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.

What’s Your Home Worth?

Search for Your New Home

Listing types.

For Sale

For Rent

Land

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Distressed

Open House

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Price MaxAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Location Search Nearby

Lot SizeAny1+ Acres2+ Acres3+ Acres4+ Acres5+ Acres6+ Acres7+ Acres8+ Acres9+ Acres10+ Acres20+ Acres30+ Acres40+ Acres50+ Acres

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Neighborhood

Address, MLS# or Keyword

View As: Thumbnails List

Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

2409 W Mandalay Lane Phoenix, AZ 85023

$499,900

4 Beds

3 Baths

2,162 SqFt

Status Active

MLS # 6668488

Property Type Single Family Residence

Price Type --

NO HOA! 4 Bedroom 3 Bathroom Tri-Level Home Located in North Central Phoenix. This beautiful home with a recently upgraded kitchen, pool and front yard has 3 bedrooms upstairs and one private bedroom on the bottom floor. Just an easy 20 Min Drive From Downtown, Sky Harbor Airport and North Scottsdale. You are mere Minutes From I17 and Loop 101 Freeway's. The Convenience of this location is Just Fabulous! The Sparkling Blue Pool awaits in your private low maintenance backyard. The Property does have solar, the seller will pay off the solar note at closing so it will be owned. Pool was redone in 2017 and HVAC in 2020. On top of all this, it has North / South Exposure.

View Property

3749 E Emile Zola Avenue Phoenix, AZ 85032

$499,900

4 Beds

3 Baths

1,714 SqFt

Status Active

MLS # 6671627

Property Type Single Family Residence

Price Type --

PRICED BELOW APPRAISAL! The perfect single level home with 4 bedrooms and 3 full bathrooms is now available in Paradise Valley Oasis! This beautiful home features an open floor-plan, spacious kitchen with dark wood shaker style cabinets, granite counter-tops and stainless steel appliances, staggered laid tile flooring throughout, updated lighting, new exterior paint, new roof, whole house water treatment system, master bedroom split for additional privacy, large master bathroom with dual sinks, granite counter-tops and travertine tile wrapped shower, hall bathroom has granite counter-tops with tile wrapped shower, additional bedroom has ensuite bathroom with spacious walk-in shower and much much more. This one will sell fast!

View Property

21838 N Scott Court Maricopa, AZ 85138

$499,900

4 Beds

2 Baths

2,312 SqFt

Status Active

MLS # 6673046

Property Type Single Family Residence

Price Type --

Golf course lot! iIncredible 3-bed + Den home sitting on a golf course lot of a quiet cul-de-sac in the desired Rancho El Dorado Community! RV gate, 2-car garage, and manicured landscaping welcome you. Enter to see a formal living & dining room, designer paint, a double-door entrance den, and high vaulted ceilings. You will love the family room boasting wood floors, built-in niches, a gas fireplace, and backyard access! The eat-in kitchen features an island w/breakfast bar, a walk-in pantry, oak cabinets, a chic backsplash, granite counters, and SS appliances. The oversize main bedroom has access to the backyard and an ensuite w/dual sinks & walk-in closet. Oasis-style backyard highlights a blue pool w/water feature, a covered patio, a storage shed, and multiple seating areas. Close to schools and shopping.

View Property

1610 W Lynwood Street Phoenix, AZ 85007

$499,900

3 Beds

1 Bath

1,140 SqFt

Status Active

MLS # 6683262

Property Type Single Family Residence

Price Type --

Step into a piece of Arizona history with this charming 1920's bungalow, nestled in the coveted and iconic F.Q. Historic District. Retaining its distinctive classic integrity while boasting modern finishes, this home offers a unique blend of old-world charm and contemporary convenience. The spacious kitchen is a standout feature, adorned with exposed brick, white beadboard, and butcher block countertops. Built-in stainless steel appliances, an island cook top, and cobalt blue Mexican tile surround the cozy breakfast nook, creating a perfect blend of functionality and style. Newer windows allow natural light to flood the interior, illuminating the subtle Smokey Ash porcelain wood plank flooring and crown molding that graces every room. designated dining area lead to a versatile flex office space and the third bedroom, providing flexibility for modern living. Outside, a spacious covered patio overlooks the backyard, offering a tranquil retreat for relaxation or a stylish setting for entertaining guests. Whether seeking solitude or a quintessential Arizona outdoor experience, this home provides the perfect backdrop for enjoying the desert lifestyle in style. Don't miss the opportunity to own a piece of Arizona's architectural heritage in this enchanting F.Q. Historic District residence. NO HOA!

View Property

2611 Leisure World -- Mesa, AZ 85206

$499,900

3 Beds

2 Baths

3,278 SqFt

Status Active

MLS # 6683707

Property Type Single Family Residence

Price Type --

This is the best value at $153 per square feet in Leisure World The Laguna floor plan has the large, vaulted ceiling living area with plenty of room to entertain. The primary bedroom and bathroom are also oversized with 16' of closet space. On the other side of the house is 2 large bedrooms and an enormous family room that could be a game room, theater room, or a combination of both. Behind the kitchen is a office or den area with built in shelving units and another large room to use. The back yard has a built in spa and plenty of room to spread out. All this in the Premiere Active Adult Community of Leisure World with 36 holes of private golf, new tennis complex, pickle ball, swimming pools, library, state of the art fitness center, theater, arts and crafts, billiard room, and more!

View Property

34967 N 30th Avenue Phoenix, AZ 85086

$499,900

3 Beds

2.5 Baths

1,614 SqFt

Status Active

MLS # 6691449

Property Type Townhouse

Price Type --

** Amazing Opportunity ** Beautifully furnished with new one year lease. This exquisite three-story townhome comes with a stellar track record of success as a rental. Step into luxury as you enter this meticulously designed interior featuring stunning granite countertops, stainless steel appliances, and custom lighting fixtures that illuminate the contemporary furnishings throughout. With three spacious bedrooms and 2.5 baths, there's ample room for guests to relax and unwind in style. This property delivers with a walking path just 100' from your front door. Enjoy the warmth of hardwood floors on the second level, adding a touch of elegance. Your investment includes all furnishings shown in the photos.

View Property

15130 W Andora Street Surprise, AZ 85379

$499,900

4 Beds

3 Baths

2,607 SqFt

Status Active

MLS # 6694832

Property Type Townhouse

Price Type --

This beautiful 4 bed, 3 bath townhome in Marley Park has all the right upgrades in all the right places! Discover spacious dining & living areas w/high ceilings, and trending palette throughout. The fabulous kitchen is comprised of painted cabinetry w/quartz counters, a pantry, herringbone tile backsplash, SS appliances, and a lovely large island. Downstairs has a spacious bedroom with a beautiful custom ''California Closets'' walk -in closet and a full bathroom. End your busy day in the primary bedroom, boasting elegant hardwood flooring, a walk-in closet, and a lavish ensuite w/dual sinks & a freestanding tub and shower. You'll also find a cozy loft area, great for sitting or an office. This home also has a stunning travertine side patio w/an attached pergola! This home simply has it al

View Property

372 W Nikita Drive San Tan Valley, AZ 85140

$499,890

5 Beds

3 Baths

2,586 SqFt

Status Active

MLS # 6630546

Property Type Single Family Residence

Price Type --

On 4-18-24, the Carpets were cleaned and ready for a new owner. Large backyard! Don't wait any longer, as the seller is highly motivated. This is your chance to own a stunning McKinley floor plan with a 5-bedroom, 3-bathroom that includes a loft in the coveted Meadows community. The house is close to a new shopping complex, restaurants, a hospital, and grocery stores. You'll love the spacious and well-designed floor plan, which features an open concept on the main floor with access to a covered patio. The kitchen is a chef's dream, with plenty of cabinet and counter space and a walk-in pantry. With one bedroom and a full bath downstairs, you'll have plenty of space for your family and guests. Upstairs, you'll find the laundry room, three additional bedrooms, and a split primary bedroom, each spacious and perfect for relaxation. The primary suite is the ideal retreat, with a large, secluded room, a private ensuite bathroom with dual sinks, and a walk-in closet. The loft is suitable for movie nights or a separate space to unwind. The house is fully landscaped and ready for you to move in. The lot is large enough for a future pool/spa/spool. Take advantage of this opportunity to own your dream home!

View Property

1731 W Palmaire Avenue Phoenix, AZ 85021

$499,880

3 Beds

2 Baths

1,375 SqFt

Status Active

MLS # 6694080

Property Type Single Family Residence

Price Type --

WOW, this home has just completed an extensive remodel and it looks great! This 3 bed 2 bath home on a large north central, culdesac lot also has a great pebble tech pool! The interior has been updated with plank flooring, quartz counters, new paint inside and out, baseboards, vanities, tile showers, lighting, landscaping, epoxy garage floors, the list goes on! Located in area of million dollar homes, this house has it all at half the price. Large back yard for entertaining, two car garage, storage, large interior laundry room, space for RV, no HOA. Newer AC and appliances. Third bedroom can make a great work from home office. Come check out this north central Gem today!

View Property

25229 W Rockaway Hills Road Morristown, AZ 85342

$499,800

3 Beds

2 Baths

1,801 SqFt

Status Active

MLS # 6639688

Property Type Manufactured Home

Price Type --

Your new home away from the crowds awaits in Morristown! Santa-Fe-style residence sitting on a more than 1-acre lot on a desired corner! This property is fully fenced w/an RV gate for all your toys. Beautiful interior has tile floors, a cozy fireplace in the living room, gorgeous light fixtures, and neutral paint. Cook gourmet dishes in the eat-in kitchen showcasing SS appliances, center island, a walk-in pantry, white cabinetry, and ample counter space. Split main retreat has a walk-in closet and a full bathroom with a dual sink vanity and a jetted tub for a spa-like feel. In the backyard, discover a fenced covered patio w/a Ramada, a greenhouse, a detached garage w/a small workshop attached, a fire pit, and natural desert landscaping. Don't miss the AZ sunsets and mountain views! Hurry!

View Property

1683 W Cottonwood Lane Phoenix, AZ 85045

$499,800

3 Beds

2.5 Baths

1,977 SqFt

Status Active

MLS # 6671249

Property Type Single Family Residence

Price Type --

Foothills Club West former model home situated on one of the few larger lots within this subdivision. Highly upgraded with two tone paint & plantation shutters throughout. Entertainment layout as kitchen is completely open to dining area and flows to great room with slider out to patio. Staggered maple cabinets, granite counter-tops, island, stone backsplash, recessed lighting, all SS appliances including French door refrigerator. Surround sound in family room, primary bedroom & prewired on patio. First floor has a private office/den with built in maple cabinets and bench window seating. Huge open loft with built in cabinets. Primary bedroom has crown molding, private door to balcony, large bath remodeled 2022 with separate tub & frameless glass shower, updated tile and dual integrated sinks in quartz countertop, large walk-in closet. Good size secondary bedrooms, full bath and upstairs laundry room with built in cabinets, front loading washer and dryer included, split from primary bedroom. Custom front door with glass insert, sun-screens, brushed nickel hardware and fixtures throughout. Garage has new side utility door and upgraded epoxy floor coating. Mountain views, close proximity to 202 Fwy, many hiking trails, new bike trail and shopping/dining. This home will not disappoint.

View Property

18326 N Gila Springs Drive Surprise, AZ 85374

$499,800

2 Beds

2 Baths

1,782 SqFt

Status Active

MLS # 6673887

Property Type Single Family Residence

Price Type --

Beautifully designed home in the highly sought-after Sun City Grand community! Versailles pattern travertine flooring extends through the living area with a stone fireplace & additional sitting area off the kitchen ideal for a conversation or game table. The open kitchen boasts granite countertops, stainless steel appliances, drawer pull-outs, & RO. All bathrooms have been elegantly crafted with travertine & gorgeous vanities. Den area complete with custom built-in desk & shelving. The backyard offers a covered patio with a built-in BBQ ideal for hosting & citrus trees. Also featured, a 2-car garage with built-in cabinetry, water softener, & heat shield. You'll love the Sun City Grand community with amenities like a pool, spa, gym, clubhouse, sports courts, & fun community events!

View Property