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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19710 E Arrowhead Trail Queen Creek, AZ 85142

$565,000

4 Beds

2.5 Baths

2,859 SqFt

Status Active

MLS # 6720965

Property Type Single Family Residence

Price Type --

Check out this gem in the heart of Queen Creek! This amazing family home features 4bed 2.5bath plus a den and loft. The large master bedroom features a walk-in closet with built in shelving! The master bath is equipped with dual vanities, separate bath and shower, new flooring and new cabinets. The kitchen is the perfect setup for families that love to cook, featuring new counters, new cabinets, gas stove, and modern stainless steel appliances. This home has been meticulously maintained with modern carpet and paint throughout the house. Stepping in the yard experience a comfortable area to relax with a covered patio, a large tree providing shade for the entire yard, space to garden, and low maintenance landscaping. All this in the amazing Emperor Estates makes this property a must see.

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31020 N 42nd Way Cave Creek, AZ 85331

$565,000

3 Beds

2 Baths

1,857 SqFt

Status Active

MLS # 6732311

Property Type Single Family Residence

Price Type --

Great opportunity to live in Tatum Ranch at the right price! Barely lived in home has been lovingly maintained over the years, just bring your remodeling ideas! Open and inviting floorplan with elevated entrance. Separate formal living room perfect for his or her space, media room, or kids area. Open great room with kitchen island and large family room area complete with built-ins. Split floorplan with two bedrooms, bathroom, and laundry room separate from master bedroom with large bathroom and walk-in closet. Enter your backyard complete with sparkling pool and water feature, mature landscaping, and automatic watering system. Pool resurfaced 2024 and new variable speed pump installed 2023. Two car garage with extra shelving for storage. Tatum Ranch is a perfect community for those looking to live a little outside the hustle and bustle of Phoenix, but still enjoy plenty of close amenities such as restaurants, shopping, golf courses, and hiking. Desert living at its finest!

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2663 W Kilarea Avenue Mesa, AZ 85202

Open House

$565,000

3 Beds

2 Baths

1,638 SqFt

Status Active

MLS # 6764485

Property Type Single Family Residence

Price Type --

Welcome to PRIME Dobson Ranch living! Nestled in one of Mesa's most desirable master-planned communities, this charming home offers the perfect balance of comfort and convenience. Step inside to be greeted by an open, sun-drenched layout, where natural light pours through every corner. The updated kitchen is a chef's oasis, featuring sleek white quartz countertops, stylish herringbone subway tile backsplash, modern cabinets, and stainless steel appliances. Newer wood floors flow throughout the home, providing a warm and inviting touch to go along with the newly painted to perfection interior walls and split master bedroom design. Relax in your private courtyard or take advantage of the oversized driveway and 2-car garage. The backyard is an entertainer's paradise with a sparkling diving pool, freshly refinished pool deck and a shaded pergola ideal for Arizona evenings. Dobson Ranch amenities include community pools, parks, pickleball courts, and so much more. With easy access to Hwy 101, Hwy 60, and just minutes from ASU, Tempe Town Lake, South Scottsdale, and the thriving Chandler tech corridor, you're never far from the best of the East Valley. This home is a rare find! Don't miss this opportunity - Come see your new home today!

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2749 E Bellerive Drive Gilbert, AZ 85298

Open House

$565,000

4 Beds

2 Baths

1,759 SqFt

Status Active

MLS # 6759037

Property Type Single Family Residence

Price Type --

Discover this METICULOUSLY maintained north/south facing 4-bedroom, 2-bath home. Located on a quiet street in the highly sought-after community of Adora Trails in South Gilbert. Featuring the popular Lily floor plan, this home boasts an UPGRADED kitchen with granite countertops, stainless steel appliances, a gas stove, and a pantry. The spacious dining area and large breakfast bar make mealtimes a delight. This split floor plan showcases wood-look tile in all main living areas and neutral paint throughout, creating a warm and inviting atmosphere. The upgraded 9' ceilings throughout and impressive 12' vaulted ceilings in the family room add to the sense of space and elegance. Enjoy the beautiful Arizona weather from your front porch with a lovely sitting area or retreat to your backyard covered pavered patio equipped with an outdoor TV, perfect for entertaining. The low-maintenance backyard is ideal for those who prefer relaxation over upkeep. Storage is plentiful with upgraded full cabinets in the laundry room, Monkey Bar shelving, and two large suspended ceiling racks in the garage, ensuring you have space for all your belongings. This home is move-in ready with washer, dryer and refrigerator. Have peace of mind knowing that the AC and heating have been under an annual inspection and service contract. All this nestled in the highly sought-after Adora Trails community, residents are treated to an exceptional lifestyle enriched by a variety of amenities. Enjoy beautifully maintained parks, scenic walking trails, and state-of-the-art recreational facilities, perfect for both relaxation and active living. The community clubhouse is a hub of activity, featuring a fully equipped gym, spacious meeting rooms, and a modern kitchen for gatherings. Residents can also take advantage of the inviting pool, which boasts lap lanes, a wading area with a splash pad, and is heated during the winter months for year-round enjoyment. With an on-site elementary school and a calendar full of community events, Adora Trails fosters a vibrant, active lifestyle that brings neighbors together. Discover the perfect blend of convenience, community, and fun in this desirable neighborhood!

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2235 W Aston Drive San Tan Valley, AZ 85144

Open House

$565,000

4 Beds

2.5 Baths

2,553 SqFt

Status Active

MLS # 6711865

Property Type Single Family Residence

Price Type --

Seller may consider buyer concessions if made in an offer. Welcome to this beautiful property with a natural color palette that creates a serene atmosphere throughout the home. The kitchen features a center island for extra counter space, while the primary bedroom boasts a walk-in closet for ample storage. The primary bathroom offers a separate tub and shower, double sinks, and good under sink storage. Step outside to the fenced backyard, complete with a private in-ground pool and covered sitting area. Fresh interior paint and partial flooring replacement in some areas make this home move-in ready. Don't miss out on this fantastic opportunity!

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7631 S Kenwood Lane Tempe, AZ 85284

$564,999

3 Beds

2 Baths

1,656 SqFt

Status Active

MLS # 6765825

Property Type Single Family Residence

Price Type --

BEAUTIFULLY REMODELED! Move right into this charming home in a prime Tempe location! Providing 3 beds, 2 baths, 2-car garage, & a low-care landscape. The immaculate interior, with a spacious open layout, boasts clean lines that promote a modern feel! Enhanced by fresh neutral paint, vaulted ceilings, recessed lighting, abundant natural light, & new wood-look floors. The renewed kitchen has SS elec range & dishwasher, quartz counters, tile backsplash, white shaker cabinetry, and a waterfall peninsula w/breakfast bar. Well-appointed bedrooms & updated bathrooms! Main bedroom offers French doors to the back and a barn door that opens to the ensuite w/dual sinks & a walk-in closet. Enjoy the entertainer's backyard with two covered patios, a well, artificial turf, & a sparkling pool! Just WOW!

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7524 S Lone Pine Place Gold Canyon, AZ 85118

$564,999

4 Beds

2 Baths

1,913 SqFt

Status Active Under Contract

MLS # 6750439

Property Type Single Family Residence

Price Type --

The sellers are relocating out of state, so this move-in-ready home is available for a quick closing! Featuring a unique and sought-after split-floorplan, this property offers ample privacy and personal space. The backyard is a standout, showcasing stunning desert and mountain views that stretch as far as the eye can see. This is one of the few homes in Peralta Canyon with a pool, spa, and waterfall feature, all on a tranquil west-facing mountain view lot. Designed for entertaining, the spacious layout includes an open great room that seamlessly extends through wide glass patio doors to a large, pergola-covered extended patio. Built just 5 years ago, the home boasts numerous modern upgrades, including abundant canned lighting, stylish pendant lights above the oversized kitchen island, neutral ceramic and wood tile flooring, granite countertops, a generous pantry, and stainless-steel appliances. The pool and spa are less than a year old, and the home features a super-efficient tankless water heater and an owned water softener. With ample storage throughout, the property is also conveniently located within walking distance to the local elementary school and less than 10 miles from highly-rated public charter schools.Peralta Canyon is known for its proximity to hiking trails, world-class golf courses, and lakes for kayaking and boating. Nearby amenities include dining options, medical and urgent care facilities, grocery stores, and more. This home offers the perfect blend of serene, picturesque living with easy access to city conveniences.

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11934 W Parkway Lane Avondale, AZ 85323

$564,995

5 Beds

3 Baths

2,370 SqFt

Status Active

MLS # 6741556

Property Type Single Family Residence

Price Type --

Explore this dynamic Raleigh home, ready for quick move-in on a homesite boasting driveway pavers and front yard landscaping. Included features: an inviting covered entry; an impressive guest suite; a gourmet kitchen offering 42'' cabinets, quartz countertops, stainless-steel appliances, a double oven, a walk-in pantry and a center island; an open dining area; an expansive great room with center-meet doors leading onto a charming covered patio; a beautiful primary suite showcasing an immense walk-in closet and a private bath with cultured marble countertops; a convenient laundry; a mudroom and a 3-car garage. This home also offers stone tile flooring, additional windows and ceiling fan prewiring in select rooms as well as airy 10' ceilings throughout.

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16400 W Avenida Del Sol -- Surprise, AZ 85387

$564,995

4 Beds

3 Baths

2,570 SqFt

Status Active

MLS # 6686225

Property Type Single Family Residence

Price Type --

4 bed 3 bath Elev B 2570 SQ FT 2 Car Garage. Has Gourmet Kitchen, Deluxe Master bath with walk in shower. Garage service door, 10ft ceilings at entry. Gas cooktop/range, Gas stub at Patio, 42'' White upper cabinets with 2-1/2'' molding. Wood looing tile through out and carpet in bedrooms.

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16380 W Avenida Del Sol -- Surprise, AZ 85387

$564,995

3 Beds

2.5 Baths

2,500 SqFt

Status Active

MLS # 6701706

Property Type Single Family Residence

Price Type --

The gorgeous Cassandra floor plan offers 10-foot ceilings with a tray at entry, gourmet kitchen with quartz countertops and 42 inch cabinets, a huge walk-in pantry, a multi-slide door at great room and a slider at Nook, walk-in Shower with rain shower, and pavers at driveway/walkway, the lot is nearly 8000 square feet and it is North/South exposure.

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16355 W Avenida Del Sol -- Surprise, AZ 85387

$564,995

4 Beds

3 Baths

2,480 SqFt

Status Active

MLS # 6718951

Property Type Single Family Residence

Price Type --

This home features a lovely Guest Suite as well as dramatic 10' ceilings throughout and a tray ceiling at entry; a gourmet kitchen with quartz countertops, 42'' cabinets, a spacious open great room with a multi-slide door; a beautiful primary suite with a generous walk-in closet. The master bath features a drop-in tub and a shower. This home offers stylish pavers at driveway/walkway.

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16348 W Avenida Del Sol -- Surprise, AZ 85387

$564,995

4 Beds

3 Baths

2,480 SqFt

Status Active

MLS # 6727605

Property Type Single Family Residence

Price Type --

This home features a lovely Guest Suite as well as dramatic 10' ceilings throughout and a tray ceiling at entry; a gourmet kitchen with quartz countertops, 42'' cabinets, a spacious open great room with a multi-slide door; a beautiful primary suite with a generous walk-in closet. The walk-in shower features a rain shower head. This home offers stylish pavers at driveway/walkway.

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