NAR Data Shows Now Is a Great Time to Sell!

We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. Two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now continues to be a great time to sell your house.

Let’s look at the data covered in the latest REALTORS® Confidence Index and Existing Home Sales Report.

REALTORS® CONFIDENCE INDEX

Every month, NAR surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions.” This month, the index showed (again) that home-buying demand continued to outpace supply in May.

The map below illustrates buyer demand broken down by state (the darker your state, the stronger the demand is there).

In addition to revealing high demand, the index also mentioned that “compared to conditions in the same month last year, seller traffic conditions were ‘weak’ in 24 states, ‘stable’ in 25 states, and ‘strong’ in D.C and West Virginia.” 

Takeaway: Demand for housing continues to be strong throughout 2017, but supply is struggling to keep up, and this trend is likely to continue into 2018.

THE EXISTING HOME SALES REPORT

The most important data revealed in the report was not sales, but was instead the inventory of homes for sale (supply). The report explained:

• Total housing inventory rose 2.1% to 1.96 million homes available for sale
• That represents a 4.2-month supply at the current sales pace
• Unsold inventory is 8.4% lower than a year ago, marking the 24th consecutive month with year-over-year declines

According to Lawrence Yun, Chief Economist at NAR:

“Current demand levels indicate sales should be stronger, but it’s clear some would-be buyers are having to delay or postpone their home search because low supply is leading to worsening affordability conditions.”

In real estate, there is a guideline that often applies; when there is less than a 6-month supply of inventory available, we are in a seller’s market and we will see appreciation. Between 6-7 months is a neutral market, where prices will increase at the rate of inflation. More than a 7-month supply means we are in a buyer’s market and should expect depreciation in home values.

As we mentioned before, there is currently a 4.2- month supply, and houses are going under contract fast. The Confidence Index shows that 55% of properties were on the market for less than a month when sold.

In May, properties sold nationally were typically on the market for 27 days. As Yun notes, this will continue, unless more listings come to the market.

“With new and existing supply failing to catch up with demand, several markets this summer will continue to see homes going under contract at this remarkably fast pace of under a month.”

Takeaway: Inventory of homes for sale is still well below the 6-month supply needed for a normal market. And the supply will continue to ‘fail to catch up with demand’ if a ‘sizable’ supply does not enter the market.

Bottom Line

If you are going to sell, now may be the time to take advantage of the ready, willing, and able buyers that are still out searching for your house. Give me a call for more information – J.P. Cook – 602-320-4253.

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6504 W Behrend Drive Glendale, AZ 85308

$565,000

4 Beds

2 Baths

2,313 SqFt

Status Active

MLS # 6765381

Property Type Single Family Residence

Price Type --

Move in Ready! Spacious 4-bedroom, 2-bath home in desirable Arrowhead Subdivision. Features an open concept kitchen to great room, fresh interior paint, and a prime location in Glendale with easy access to the Loop 101. Ideal for comfortable living!

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760 S Jacob Street Gilbert, AZ 85296

$565,000

3 Beds

2 Baths

2,287 SqFt

Status Active Under Contract

MLS # 6764992

Property Type Single Family Residence

Price Type --

IMMACULATE SINGLE LEVEL 3 OR 4 BEDROOM HOME LOCATED IN THE HEART OF GILBERT*FRESH INTERIOR PAINT AND NEW CARPETING IN ALL BEDROOMS JUST INSTALLED*NEW BRUSHED NICKLE LIGHT FIXTURES, CEILING FANS AND DOOR HANDLES*OPEN KITCHEN TO FAMILY ROOM WITH DOORS LEADING OUT TO YOUR PEBBLE SHEEN FINISHED PLAY POOL-NO 2 STORY HOMES BEHIND OR ON THE SIDES*THIS HOME IS SUPER BRIGHT AND FLOWS ALL SO WELL*SPLIT MASTER BEDROOM WITH LARGE BATHROOM-SEPARATE GARGEN TUB AND SHOWER WITH DUAL SINKS*THE DEN/OFFICE COULD EASILY BE CONVERTED INTO A 4TH BEDROOM WITH THE ADDITION OF A CLOSET*NEWER GARAGE DOOR AND OPENER*MAINTENANCE FREE LANDSCAPING WILL ALLOW YOU THAT EXTRA TIME TO LOUNGE AROUND THE POOL AREA AND TAKE A NICE SWIM*CONVIENIENTLY LOCATED NEAR GREAT SHOPPING AND RESTARAUNTS*THIS HOME IS MOVE IN READY!!

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22510 E Via Las Brisas -- Queen Creek, AZ 85142

$565,000

4 Beds

2 Baths

2,202 SqFt

Status Active

MLS # 6775767

Property Type Single Family Residence

Price Type --

The search is finally over! This stunning 4-bedroom, 2-bath residence features a 2-car garage, tasteful brick accents, and a welcoming front porch. Has both an office and team room. Discover a spacious great room with high ceilings, Brand new carpet and paint throughout. Kitchen comes with granite counters, abundant wood cabinetry with crown molding, pendant/recessed lighting, stainless steel appliances, a walk-in pantry, and an island with a breakfast bar for casual meals. You'll also find a cozy den ideal for an office or lounge. The primary bedroom offers plush carpeting, an ensuite with double vanities, a soaking tub, and a walk-in closet. Enjoy outdoor moments in the quaint backyard, showcasing a covered patio, pristine artificial turf, and a refreshing pool.

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17514 N Horseshoe Drive Surprise, AZ 85374

$565,000

2 Beds

2 Baths

2,298 SqFt

Status Active

MLS # 6747590

Property Type Single Family Residence

Price Type --

ONE OF THE MOST LUXURIOUS HOMES IN THE PRESTIGIOUS 'PINNACLE' AREA OF THE GRAND * SOLAR LEASE HAS BEEN PREPAID TILL 2032 SO NO MONTHLY EXPENSE. (SAVE 1,000S ) YOU WILL NOT WANT TO MISS THIS ONE !!! EXCEPTIONAL UPGRADES GALORE*FAUX STONE FRONT*STUNNING 18 INCH PORCELAIN TILE*MAGNIFICENT GRANITE COUNTER TOPS & BACKSPLASH * EXQUISITE CUSTOM DESIGNED CHERRY WOOD KITCH CABS, LIBRARY, DEN, MEDIA CENTER * SURROND SOUND* SMOOTH TOP RANGE * 2 OVENS-CONVEN&CONVEC * * GORGEOUS PVT BCKYD W/HUGE PATIO-W/BI BBQ,& SPECTACULAR WTRFALL*3 CAR GAR WITH SERVICE DOOR AND UTILITY SINK*LOW E WINDOWS* ALL APPLIANCES INCLUDED. BEDROOMS HAVE NEW CARPET. PERFECT HOME FOR ENTERTAINING. ACROSS FROM GOLF COURSE AND WATER VIEW. The Grand is a 45+ master planned golf course community Sun City Grand, an active adult community in Surprise, Arizona, offers a variety of amenities including: Four 18-hole golf courses Two fitness centers Two resort-style pools Two outdoor lap pools One indoor pool Tennis courts Pickleball courts Bocce ball courts

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22337 E Via Del Palo -- Queen Creek, AZ 85142

$565,000

4 Beds

3 Baths

2,162 SqFt

Status Active

MLS # 6765247

Property Type Single Family Residence

Price Type --

Discover a stunning two-story home nestled within the prestigious Villages at Queen Creek Golf Course community. This corner lot residence offers breathtaking mountain views, a refreshing community pool, and a spacious interior designed for comfortable living. Key features include:Prime Location, Enjoy easy access to the 60 and 202 freeways, as well as a variety of shopping, dining, and entertainment options. Enjoy the convenience of a full bedroom and bathroom on the ground floor. Modern Updates include new tile, and updated cabinets and granite countertops. The expansive open concept living space features vaulted ceilings, a large kitchen with an island, and a generous pantry. Don't Miss this opportunity to make this house yours!

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5624 E Garnet Avenue Mesa, AZ 85206

$565,000

3 Beds

2 Baths

1,847 SqFt

Status Active

MLS # 6760553

Property Type Single Family Residence

Price Type --

Welcome to this beautifully maintained single-story family home nestled in the mature and desirable Stonegate Estates. This house truly offers a brand-new roof over your head—just in time for move-in! Plus, with a fresh exterior facelift, you'll enjoy years of peace of mind knowing that the major improvements are already done, so you can focus on making it your own. This home come with updates to give you years knowing again major items like updated variable-speed pool pump and filter, a newer HVAC system, and a hot water heater mean you won't have to sweat the big stuff. And with a newer dishwasher in the mix, even the little things are taken care of, leaving you with fewer worries and more time to enjoy your new space and make it your own! The open floor plan is perfect for both entertaining and everyday living, featuring a custom kitchen complete with granite countertops, custom cabinetry, and included all kitchen appliances. Plantation shutters add airiness and privacy throughout the homes. The main bedroom is thoughtfully designed with a split layout, providing privacy, a large walk-in closet, and a luxurious ensuite bathroom. The 3-car garage offers ample space for vehicles and storage, best, it is wired for 220. Location, location, location! This home not only offers easy access to the 60 and 202 freeways, but it's also conveniently close to major employers like Boeing, Bell Helicopter, and the many businesses located at Phoenix Gateway Airport, including META, Amazon, and many aeronautic manufacturers and suppliers. Perfect for students and professionals alike, it's a quick drive to ASU, EVIT, and other top educational institutions. Plus, with great shopping nearby and easier access to beautiful lakes and state recreational areas, including less than 2 hours from the mountains, you'll have everything you need right at your fingertips! Don't miss the opportunity to own this gem in Stonegate Estates!

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7221 W Windrose Drive Peoria, AZ 85381

New

$565,000

4 Beds

3 Baths

2,292 SqFt

Status Active

MLS # 6773278

Property Type Single Family Residence

Price Type --

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287 N Scott Drive Chandler, AZ 85225

$565,000

4 Beds

3 Baths

2,575 SqFt

Status Active

MLS # 6768264

Property Type Single Family Residence

Price Type --

If you are in search of a residence that combines effortless maintenance with an exceptional location, then this property is for you. Nestled conveniently just 3 miles from downtown Gilbert, 3 miles from downtown Chandler, and a mere mile and a half from the 202 freeway, this home offers unparalleled accessibility. Boasting four bedrooms, a loft, and three full bathrooms. Notably, one of the secondary bedrooms is conveniently situated on the first floor, accompanied by a full bathroom for added convenience. This residence has an inviting open floor plan, with soaring 9-foot ceilings, and ample closet space throughout. The kitchen is adorned with stainless steel appliances, granite countertops, and exquisite tile accents that lend a touch of elegance to the space. The primary suite stands out with its generously proportioned room, complete with double sinks, an over sized shower, and an expansive walk-in closet, ensuring a luxurious daily retreat. Moreover, the community offers an array of amenities, including a refreshing pool, picturesque parks, and access to top-tier schools. This residence is truly a gem that should not be overlooked. We invite you to seize this exceptional opportunity and make this house your cherished home.

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4517 W Bluefield Avenue Glendale, AZ 85308

$565,000

3 Beds

2 Baths

2,080 SqFt

Status Active

MLS # 6704844

Property Type Single Family Residence

Price Type --

Gorgeous home with a pool & golf course views! Boasting real wood flooring throughout & vaulted ceilings. Bright, open kitchen with white cabinetry, granite countertops, stainless steel appliances, island, & RO System. Enjoy privacy with a split floor plan. 2 newly remodeled with updated vanities & modern showers/tubs. Backyard oasis offers a sparkling pool with new pump, covered patio, green space, & pavers. Also featured, a 2-car garage, new water heater, & a new washer & dryer. Seated on a lot backing the golf course with view fencing, you'll love living in this ulta-private community with amenities like a pool, spa, clubhouse, and convenient access to Tanger Outlets, Westgate Entertainment District, State Farm Stadium, shopping, dining, and more - the options are endless!

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280 S Evergreen Road Unit 1333 Tempe, AZ 85288

$565,000

4 Beds

4 Baths

1,853 SqFt

Status Active

MLS # 6693190

Property Type Townhouse

Price Type --

Very rare 4 bedroom, 3.5-bathroom townhouse in Villagio at Tempe offers a spacious and versatile layout, perfect for families , investment or for those who value extra room for guests or home offices. The LARGEST floor plan at 1853SF. 2-car garage adds convenience and storage space. Its rarity within the community, with the last 4-bedroom hitting the market three years ago, highlights its desirability and potential for investment or long-term residency. Owners replaced the areas with rugs and installed Luxury vinyl flooring, freshly painted , new window blinds.

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9854 W Ross Avenue Peoria, AZ 85382

$565,000

4 Beds

2 Baths

1,828 SqFt

Status Active

MLS # 6678518

Property Type Single Family Residence

Price Type --

Welcome Home! This 4-bed, 2-bath home sits on a huge 15,284 Sq. Ft. lot! The home offers vaulted ceilings, a freshly painted interior, tile and laminate flooring throughout. Be greeted upon entry to a gracious amount of living space. The owner's suite boasts a walk-in closet and private bathroom offering dual sinks with a separate shower and tub. The eat-in kitchen features granite countertops, a breakfast bar, stainless steel appliances and plenty of natural lighting. Make your way out back to an above ground hot tub and a SPARKLING PEBBLE FINISH POOL entirely resurfaced in 2022. Relax comfortably under the paved and extended covered patio. Here you will be conveniently located just minutes from Peoria's most popular shopping, dining and entertainment spot

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5100 E Rancho Paloma Drive Unit 2077 Cave Creek, AZ 85331

$565,000

2 Beds

2 Baths

1,990 SqFt

Status Active

MLS # 6673934

Property Type Apartment

Price Type --

MOTIVATED SELLER -OPEN TO RATE BUYDOWN! Experience the ease of condo living! This like new property is perfect for a primary or second home. A perfect pied-a-terre if you travel to the city for business frequently. Expansive, open layout provides multiple design opportunities. Kitchen with island, Tiled-to-the-Ceiling backsplash, LG Refrigerator that pops out those perfect round ice spheres and a spacious patio make entertaining delightful. Bedrooms are split for privacy, with the guest room enjoying an en-suite bath. The primary bedroom carries off a king bed, large nightstands & still has room for seating. The primary bath has a light, bright ambience with upgraded LED Lighting. Walk in Shower, dual sinks, and extra storage - nd just beyond is the walk-in closet of your dreams. Punctuated with encaustic tile in the laundry and entry, with custom window coverings throughout, this stylish home needs nothing. Schonbek modern crystal pendant lighting, Modern Forms kwall sconce and ceiling fans are all in place. Enjoy the mountain views from the living and dining room, sunsets and sunrises from the patio, overlooking the central common grounds and pool. Patio is oriented for maximum shade. This location is quiet, away from traffic noise. it's a short walk to enjoy the spa, pool or workout facility. Just steps to your private, 2 car garage. What are you waiting for? The Mirror in Guest Bath doesn't convey, but like styles can be found online. Washer and Dryer negotiable. Listing Agent is a friend of Seller. Also available as rental under MLS 6720915

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