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

4164 W Nora Drive San Tan Valley, AZ 85144

$498,135

3 Beds

2 Baths

2,232 SqFt

Status Active

MLS # 6688576

Property Type Single Family Residence

Price Type --

Beautiful 3 bedroom plus flex room with European kitchen layout, stainless steel appliances. Tile throughout except bedrooms, white cabinets granite counter tops.

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1911 N 163rd Drive Goodyear, AZ 85395

$498,000

2 Beds

2 Baths

1,706 SqFt

Status Active

MLS # 6681542

Property Type Single Family Residence

Price Type --

Motivated Owner has done many upgrades to this Riveria model home since building in 2008. 2016 intereior painted, 2019 Hot water heater,and exterior painted, 2021 Trane HVAC system, PVC system, Security screen door, owner's suite main window replaced, guest bath solar tube to name a few! Home offers eat-in kitchen w/island, gas range, all appliances incld. Open floor plan with easy access to the fun outdoor entertaining area w/covered patio, lots of seating areas, built-in BBQ, fireplace, very private! Home offers 2 bed(owners suite w/own bath and walk-in closet, den w/doors, 2 car extended garage! Must see to appreciate! PebbleCreek is an Active Adult Community offering 3 golf courses, pickleball, bocce ball, tennis, theater and more!

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4103 S Lois Lane Sierra Vista, AZ 85635

$498,000

4 Beds

2 Baths

2,160 SqFt

Status Active

MLS # 6683150

Property Type Single Family Residence

Price Type --

Stunning 2,160 sf open concept, split plan, 4BD/plus Den/Office/2BA custom home with 3-car garage. White painted cabinets with hardware, and granite counter tops throughout (including utility/laundry). Kitchen features large island, pantry, subway tile backsplash, and pendant lights over large island. Vaulted ceilings in Living, Kitchen, and Dining. Baths feature double sinks, subway tile shower and bath surrounds. Luxury vinyl plank (LVP) flooring throughout entire house. Master suite has huge walk-in closet, double sinks, and large walk-in shower with two niches. Ceiling fans in Living, all bedrooms and Den. Huge back patio and large backyard with block fence. This home is nestled within a beautiful custom home neighborhood and boasts breathtaking panoramic mountain views.

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40905 N 10th Street Phoenix, AZ 85086

$498,000

3 Beds

2.5 Baths

1,843 SqFt

Status Active

MLS # 6684047

Property Type Single Family Residence

Price Type --

Discover your desert sanctuary in this contemporary gem built in 2021. Set on almost an acre and a half at the base of a gentle hill, this two-story retreat offers three bedrooms, 2 1/2 bathrooms, and an airy open floor plan. Picture-perfect views greet you from every angle, with the master suite boasting panoramic vistas. Inside, a modern kitchen with top-of-the-line appliances beckons for culinary adventures, while expansive windows blur the lines between indoors and out, leading to a spacious patio ideal for entertaining or stargazing. This is more than a home—it's an invitation to embrace the desert lifestyle. Don't miss out on making it your own oasis.

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18217 W Cedarwood Lane Goodyear, AZ 85338

$498,000

2 Beds

2 Baths

1,891 SqFt

Status Active

MLS # 6687325

Property Type Single Family Residence

Price Type --

Welcome to this beautifully upgraded Cadence floor plan in the lake-inspired Active Adult community of CantaMia! This stunning property offers not only an open living space with no carpet but also a lifestyle filled with excitement and endless possibilities. As you enter through the front gate, you're greeted by a sprawling courtyard, perfect for entertaining or simply enjoying the outdoors. Inside, the kitchen is a chef's dream with granite countertops, matching backsplash, stainless steel appliances, and a large kitchen island also serving as a breakfast bar. The primary bedroom is a sanctuary featuring an oversized closet, granite counters, and a luxurious tiled walk-in super shower with a built-in bench. Flexibility is key with a versatile room complete with French doors located off the great room that can be used as a den, office, or guest room. Outside, the fully enclosed backyard offers privacy with block fencing and the added bonus of no homes behind, thanks to state-owned land. Enjoy the pomegranate, lemon, and orange trees, which add a touch of nature's bounty to the property. Plus, there is a wash across the street that enhances the sense of space and tranquility, keeping neighboring homes at a distance. Additional highlights include new plantation shutters, an oversized laundry room, a three-car split garage, water softener, and the convenience that all appliances convey. Don't forget about CantaMia's array of amenities. From heated pools and hot tubs to pickleball courts and billiards, there's something for everyone. Engage in card clubs, explore your creative side in the art studio, or stay connected in the IT center. With a 29,000 sq ft village center, fitness facilities, and a charming café, resort-style living is at your fingertips. Don't miss the opportunity to immerse yourself in the amazing lifestyle that CantaMia at Estrella has to offer. Come and experience the pinnacle of active adult living, where every moment is infused with excitement and possibility.

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12738 E De La Cruz Street Dewey, AZ 86327

$498,000

3 Beds

2 Baths

1,694 SqFt

Status Active

MLS # 6691424

Property Type Single Family Residence

Price Type --

Better than new! This stunning Quailwood home is turnkey and ready for you. 3 bedrooms and 2 baths, the Grand Teton model features a light and bright open floorplan. Beautiful cabinets and large kitchen island with granite countertops and stainless-steel appliances. Welcoming living room with attractive gas fireplace. Plank porcelain tile throughout and new upgraded carpet in bedrooms. Spacious primary bedroom with impressive walk in closet. Garage has epoxy flooring and storage cabinets. You will appreciate the instant hot water, and water conditioner. Low maintenance yard with paver patio and pergola for all day outdoor enjoyment. Attractive paver driveway. Enjoy the lifestyle of an affordable golf course community full of amenities like pickle ball, fitness center and tennis.

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2323 N 51st Place Phoenix, AZ 85008

New

$498,000

3 Beds

2 Baths

1,308 SqFt

Status Active

MLS # 6695100

Property Type Single Family Residence

Price Type --

This impeccably remodeled turn-key home is ideally situated just south of Arcadia. As you arrive at the property, you will notice the house's charming curb appeal and views of Camelback and Papago. Inside, no detail has been spared. The kitchen has undergone a complete transformation with sleek quartz countertops and top-of-the-line appliances. Both bathrooms exude on trend style with subway tile accents, shiplap detailing and updated vanities. Each room offers ample space for comfortable living. Outside, the backyard features a generously sized covered patio and expansive grassy area. The location is unparalleled, offering effortless freeway access and close proximity to the airport, as well as the vibrant dining and entertainment options of Arcadia and Old Town Scottsdale.

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2912 Blue Lake Circle Pinetop, AZ 85935

New

$498,000

3 Beds

2 Baths

1,281 SqFt

Status Active

MLS # 6698097

Property Type Single Family Residence

Price Type --

This one owner Pinetop Lakes cabin has been lovingly cherished by it's family. The woodsy interior feels so warm and inviting the moment you walk through the door. This 3 bedroom/2 bath 1,281 sq. ft. home is ready for you to call it home today. The versatile 3rd bedroom is also a den/study area but many more uses are possible. Sit on the large sun and covered deck and enjoy the sound of the breeze through the tall pine trees on the spacious .40 acre lot. There is a 1 car garage for extra storage too. This cabin comes with Rec Center privileges and a low HOA.

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25657 N 185th Drive Wittmann, AZ 85361

$497,995

3 Beds

2 Baths

1,693 SqFt

Status Active

MLS # 6669478

Property Type Single Family Residence

Price Type --

The Bronze floor plan would certainly take home gold for design! This ranch-style home centers around an open layout with a dining area, a kitchen with a center island, and a great room with center-meet doors leading to the covered patio. The primary suite is adjacent, and showcases a generous walk-in closet and a private bath. Two bedrooms and a second bath complete the residence, which also includes an attached RV garage. You'll love the professionally curated fixtures and finishes selected by our design team!

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3335 S Primrose -- Mesa, AZ 85212

New

$497,990

4 Beds

3.5 Baths

2,039 SqFt

Status Active

MLS # 6697624

Property Type Single Family Residence

Price Type --

A collection of brand-new single-family homes located in the master-planned community in Mesa, AZ. The community feeds into the highly rated Gilbert Public School District, making this an ideal place for growing households. There are many onsite amenities at the masterplan everyone will enjoy, including a swimming pool, basketball court, pickleball court, playground and picnic area. Commuters have easy access to Loop 202 and Phoenix-Mesa Gateway Airport for travel accommodations. This beautiful home features our platinum package including Sonoma Maple Linen cabinets and quartz countertops. Super luxury 7 x 22 plank tile flooring.

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17708 W Silverwood Drive Goodyear, AZ 85338

$497,950

3 Beds

2 Baths

1,935 SqFt

Status Active

MLS # 6677807

Property Type Single Family Residence

Price Type --

Up to 3% of total purchase price towards closing costs incentive offer. Additional eligibility and limited time restrictions apply. MLS#6677807 Ready March! Discover the Zafiro plan with 3 bedrooms and flex space. Enjoy curb appeal with a landscaped front yard and paver driveway leading to the porch. Perfect for entertaining, living space and covered patio are on one side, while bedrooms and flex room are on the other. Owner's suite offers privacy with walk-in closet, dual vanities, and walk-in shower. Located in a gated, active adult community with resort lifestyle in Estrella Mountain Foothills. Structural options include: paver front porch, multi-slide door at gathering, upgraded square corners, 5' baseboards, 8' interior doors, and pre-plumb reverse osmosis system.

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16216 W Indianola Avenue Goodyear, AZ 85395

$497,900

2 Beds

2 Baths

2,200 SqFt

Status Active

MLS # 6602047

Property Type Single Family Residence

Price Type --

Elegant travertine courtyard entry welcomes you to this one of a kind 'Milano' floor plan which has been customized with enclosed game room/sun room, beautiful library cabinets in den, built in cabinets & 'Murphy' bed in guest bdrm; extended master bdrm & family room; ext garage with storage cabinets, golf cart garage; water softener & R/O system. Freshly painted interiors in neutral color palette. Situated on a beautiful lot with great outdoor entertaining spaces including travertine patio, water feature & outdoor kitchen. Pebble Creek showcases stunning resort-style amenities and offers the ultimate value in active adult luxury living. PRICE REDUCED FOR QUICK SALE!

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