Existing-Home Sales Hit Rough Patch in February

Talk to a Realtor® in much of the country right now and they’ll all echo a similar narrative: homes are selling quickly because there are not enough listings on the market.

It’s why existing sales stumbled in February and price growth accelerated to its fastest pace in over a year (7.7 percent). Even more staggering, inventory has now fallen year-over-year for 21 straight months and homes last month sold 14 days faster than last February.

Is this an indicator of things to come as the spring buying season heats up?

One sign of hope is that a larger share of homeowners in NAR’s first quarter HOME survey said that now is a good time to sell a home. However, as NAR Chief Economist Lawrence Yun pointed out at yesterday’s press conference, new home construction is what’s really needed to slow price growth and allow supply to catch up with demand.

The first two months of 2017 have been up and down. If you’re looking for clues on how the coming months will pan out, listen closely to the sounds of drills and hammers in your neighborhood.

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11865 N Allegro Road Maricopa, AZ 85139

$460,000
3 Beds
2 Baths
1,440 SqFt
Status Active
MLS # 6684957
Property Type Single Family Residence
Price Type --
Nearly 5 acres of fenced horse property with a site built metal frame block stucco home! Home has recently been upgraded with wood-look tile flooring throughout! Spacious bright kitchen, includes all appliances & large breakfast bar w/storage overlooking living room! Primary bedrm & bath have jetted tub, remodeled vanity, walk-in & secondary closets. Guest bathrm has matching remodeled vanity. Huge laundry rm connects to primary bath w/door provides privacy. Key items include: 400' deep well & 2 neighbors pay for water usage, 45x36' concrete slab ready for supersized garage, gravel driveways, storage sheds, new water heater, watersoftner, fans thru out, full covered front patio, newer exterior paint & 7 pine trees w/irrigation. All this in quaint Hidden Valley surrounded by mountains!

847 S Ashbrook -- Mesa, AZ 85204

$460,000
4 Beds
2 Baths
1,740 SqFt
Status Active
MLS # 6686063
Property Type Single Family Residence
Price Type --
Wow Take A Look At This, Almost Fully Remodeled Incredible Home, Upon Arriving Notice This Low Maintenance Yet Inviting Curb Appeal, Head In To This Neutral Light N Bright Home With Granite Counters, Recessed Lighting & Modern Kitchen Appliance Package (Refrigerator Washer & Dryer Stay). Designer Painted Inside & Out, Updated Flooring, & Ceiling Fans Throughout. Spacious Living Room With Soaring Vaulted Ceilings, Hardwood Flooring With A Cozy Fireplace. Formal Dining & The Kitchen Opens Perfectly For Entertaining Friends & Family. A Generous Sized Master Suite With A Custom Tile Shower. A TRUE 4 BEDROOM Including A Large Master Suite, Plus An Extended 2 Car Garage For Toys Or Work Space, Plus Extra, Extra Storage & RV Gate/RV Parking. Nestled Perfectly On a Large LOT With NO HOA. Welcome!

40045 W Novak Lane Maricopa, AZ 85138

$460,000
4 Beds
2.5 Baths
3,267 SqFt
Status Active
MLS # 6689283
Property Type Single Family Residence
Price Type --
Welcome to this stunning two-story home nestled in a desirable neighborhood! This meticulously maintained residence boasts four spacious bedrooms, including a luxurious master suite, and two and a half baths. As you enter, you're greeted by an inviting living space adorned with elegant tile flooring throughout. The heart of the home is the gourmet kitchen, featuring granite countertops, an expansive island, and ample cabinet space, perfect for culinary enthusiasts and entertaining guests. The second floor offers a tranquil retreat with generously sized bedrooms, each offering comfort and privacy. The master suite is a true sanctuary, complete with a spa-like ensuite bathroom, offering a relaxing haven after a long day. Step outside to your own private oasis, where the lush backyard awaits. Enjoy endless summer days lounging by the salt water sparkling pool, complete with a slide for added fun, and a soothing fountain, creating a serene ambiance. This home is an entertainer's dream, offering seamless indoor-outdoor living and plenty of space for gatherings and celebrations. Don't miss the opportunity to make this dream home yours!

3938 E Sweetwater Avenue Phoenix, AZ 85032

$460,000
3 Beds
2 Baths
1,855 SqFt
Status Active
MLS # 6690532
Property Type Single Family Residence
Price Type --
NO HOA! Step into comfort & convenience w/ this home boasting luxury vinyl plank flooring throughout the home. Fresh interior paint provides a crisp & modern look. The heart of the home features newer appliances w/ a view of your sparkling pool & recently installed artificial turf in the backyard- a low maintenance outdoor space that looks perfect year round. Comfort is key, w/ double paned windows & a new evaporative cooler installed in 2022 to keep you cool during the warm summer months, while ceiling fans in every room ensure optimal airflow & energy efficiency.The primary & secondary bathrooms are tastefully updated w/ new vanities, offering both style & storage solutions. Additionally, patio posts were replaced in 2018, ensuring the outdoor space is as sturdy as it is inviting. For added convenience, a stackable washer and dryer set were purchased in 2023, offering modern laundry amenities right at your fingertips. Nestled next to the existing Road Runner park with lakes, tennis courts, and expansive spaces, this home is poised to benefit from enhanced amenities and increased value brought forth from the up and coming Red Development (formerly PV Mall). Don't miss your chance on this lucrative asset and enriching lifestyle that awaits you!

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