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

18390 W Hayden Drive Surprise, AZ 85374

$499,999

4 Beds

2.5 Baths

2,882 SqFt

Status Active

MLS # 6697856

Property Type Single Family Residence

Price Type --

This well cared for home nestled in the Bell Pointe Community close to the foothills of the beautiful White Tank Mountains. Hiking, Off-Roading, Bike Paths and beautiful mountain views are just minutes away! Inside, you'll find spacious living areas with NEWLY added wood-like flooring, NEW carpet upstairs, neutral color scheme, and NEW PLANTATION SHUTTERS. This home offers versatility with a private downstairs den that could easily serve as an additional bedroom, perfect for guests! The kitchen is a highlight, with elegant wood cabinetry with crown molding, sleek stainless steel appliances, recessed lighting, a generous walk-in pantry and a peninsula complete with a breakfast bar. Entertain guests in the formal dining space, ideal for formal dinners or game nights. Upstairs features all BRAND NEW CARPET. Additionally, a versatile loft area awaits, perfect for use as an additional living space, home office, or even a playroom. The primary bedroom is bright and open featuring a MASSIVE WALK-IN CLOSET that's sure to delight any fashion enthusiast. The primary private bathroom has dual sinks, a soaking tub, and shower. Step outside to the serene backyard, complete with low maintenance artificial turf landscaping, a shaded pergola, and a covered patio, providing the perfect setting for outdoor gatherings and relaxation!

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18643 W Miami Street Goodyear, AZ 85338

Open House

$499,999

3 Beds

2.5 Baths

2,489 SqFt

Status Active

MLS # 6701844

Property Type Single Family Residence

Price Type --

The perfect stunning 3-bedroom, 2.5-bathroom residence nestled in the heart of Goodyear. This home boasts contemporary light fixtures and open floor plan seamlessly connects the family room to the chef's kitchen. The kitchen featuring a gas cooktop, granite countertops, and sleek stainless-steel appliances. a large island. A master suite, with a full bathroom that has dual sinks, separate tile shower and tub, large walk-in closet. RV Gate, A 3 car tandem garage that offers durable epoxy floor ensures easy maintenance, while the well-organized cabinets optimize storage efficiency, resulting in a space that is both visually appealing and highly practical. Your new home awaits you! organized cabinets optimize storage efficiency, resulting in a space that is both visually appealing and highly practical. Your new home awaits you!

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14595 W Acapulco Lane Surprise, AZ 85379

Open House

$499,999

4 Beds

2.5 Baths

2,310 SqFt

Status Active

MLS # 6699093

Property Type Single Family Residence

Price Type --

Clean and Fresh! 4 bed/2.5 bath with a Den, Formal Dining and Living Room, Loft upstairs. Open Floorplan! Backyard is already complete with BBQ, Above Ground Pool with Professional Equipment, and Shed. Area has Everything! Spring Training, Surprise Community Park with Fishing, Library, Dog Park and Family Ammenities including Shopping, Restaurants, Easy Freeway Access to 303, 101 and Grand.

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3668 S 180th Lane Goodyear, AZ 85338

$499,998

3 Beds

3 Baths

1,955 SqFt

Status Active

MLS # 6695603

Property Type Single Family Residence

Price Type --

Welcome to your dream home in Las Brisas Phase 2B! This stunning residence built by Taylor Morrison in 2021 is a masterpiece of modern living, offering a perfect blend of luxury and functionality. The kitchen is outfitted with a customizable Samsung Smart Refrigerator and washer-dryer units, adding a touch of modern convenience to your daily routine. The entryway is adorned with a beautiful accent wall, setting the tone for the elegance and style found throughout the home. Don't miss your chance to own this exceptional residence in Las Brisas Phase 2B. It's a rare opportunity to experience luxury living in one of Goodyear's most sought-after communities. As you step inside, you're greeted by an inviting open floor plan that seamlessly connects the living, dining, and kitchen areas. The heart of the home is the spacious gourmet kitchen, featuring a large granite countertop island, ample cabinetry, and a walk-in pantry. It's a chef's delight, perfect for hosting gatherings and creating culinary masterpieces. The state-of-the-art smart home security system ensures peace of mind and convenience for you and your family. Luxury continues in the bathrooms, where you'll find raised vanities that add a touch of sophistication to your daily routine. The large 3-car tandem garage is a car enthusiast's dream, complete with built-in shelving and cabinets for all your storage needs. Outside, the backyard is a blank canvas awaiting your creativity. Whether you envision a serene oasis with a lush garden and patio or a vibrant outdoor entertainment area, the possibilities are endless. Additionally, within the Las Brisas community, you'll discover many parks with amenities such as volleyball nets, basketball courts, and soccer nets. It's a perfect setting for a fun and active lifestyle, ideal for both families and those who love to stay active. The community is also pet-friendly, ensuring that your furry companions can enjoy the outdoors as much as you do. This home is also Pearl Certified, meaning it's energy-efficient and environmentally friendly, saving you money on utility bills while reducing your carbon footprint.

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40419 W Michaels Drive Maricopa, AZ 85138

$499,995

4 Beds

2.5 Baths

3,000 SqFt

Status Active

MLS # 6695669

Property Type Single Family Residence

Price Type --

The main floor of the Yorktown was designed for entertaining, offering an expansive great room and an open dining room overlooking a covered patio and backyard. A gourmet kitchen with a large center island, built in wall microwave/oven combination, and gas cooktop awaits the inner chef. The 3-car garage leads to a convenient mudroom with walk-in closet, a powder room and a private study. On the second floor, there's an immense loft surrounded by three bedrooms(one includes a walk-in closet!), a shared bath, and a large laundry room. The owner's suite includes a deluxe bath showcasing a separate soaking bath and shower along with a spacious walk-in closet.

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21415 N Elba Road Maricopa, AZ 85138

$499,995

4 Beds

3.5 Baths

2,500 SqFt

Status Active

MLS # 6528777

Property Type Single Family Residence

Price Type --

Maricopa decadence! Welcome to one of the premier properties located within the prestigious Rancho El Dorado Community of Mariocopa. This home boasts an immense great room with center-meet doors that leads onto a cheerful covered patio that faces to the east and gets great shade in the afternoon. Also included: a gourmet kitchen boasting 42'' upper cabinets, a center island, a spacious walk-in pantry and an adjacent dining room; a secluded owner's suite showcasing an oversized walk-in closet and a deluxe bath with double sinks; a convenient powder room; a central laundry; three secondary bedrooms with a shared full bath; a 2-car garage PLUS an additional side-turn garage.

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18655 W Honeysuckle Drive Surprise, AZ 85387

$499,995

3 Beds

2 Baths

1,826 SqFt

Status Active

MLS # 6630289

Property Type Single Family Residence

Price Type --

Welcome to this RV Ultra Garage Pewter home! Included features: a covered entry; a well-appointed kitchen boasting 42'' upper cabinets, quartz countertops, stainless-steel appliances, a center island and a walk-in pantry; a relaxing great room and adjacent dining room; a secluded primary suite showcasing additional windows, a spacious walk-in closet and a private bath with double sinks; a central laundry; two secondary bedrooms with a shared bath; a charming covered patio; a 2-car garage and an attached RV garage. This home also offers wood laminate flooring, cultured marble bath countertops, ceiling fan prewiring in select rooms, front yard landscaping and concrete pavers at the driveway and walkway. Spring 2024 Move-in

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17657 W Running Deer Trail Surprise, AZ 85387

$499,995

4 Beds

3 Baths

2,220 SqFt

Status Active

MLS # 6636944

Property Type Single Family Residence

Price Type --

You'll find plenty to love about this home! The center of the home boasts a large kitchen with a convenient center island and walk-in pantry, which flows into an open-concept dining nook and great room. This home has four bedrooms and 3 bathrooms. The owner's suite has a deluxe master bath shower and large walk-in closet. An upgraded shower in the guest bath. Additional options include ten-foot ceilings, 2 car extended garage with plenty of storage, gourmet kitchen, soft water pre-plumb and great room slider.

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17646 W Running Deer Trail Surprise, AZ 85387

$499,995

3 Beds

2 Baths

2,220 SqFt

Status Active

MLS # 6636891

Property Type Single Family Residence

Price Type --

This home has 10' ceilings throughout. The center of the home boasts a large kitchen with a convenient center island and walk-in pantry, which flows into an open-concept dining nook and great room. This home has four bedrooms and 3 bathrooms. The owner's suite has a deluxe master bath shower and a walk-in closet. Additional options include: 2 car extended garage with plenty of storage, gourmet kitchen, soft water pre-plumb and great room slider

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20076 W Montecito Avenue Litchfield Park, AZ 85340

$499,995

4 Beds

2.5 Baths

2,370 SqFt

Status Active

MLS # 6639833

Property Type Single Family Residence

Price Type --

Explore this impressive Raleigh home, ready for quick move-in on a homesite boasting driveway pavers and front yard landscaping. Included features: a welcoming covered porch; a bedroom and bathroom in lieu of a study and powder room; a gourmet kitchen offering a double oven, 42'' cabinets, stainless-steel appliances, quartz countertops, a walk-in pantry and a center island; an open dining area; a spacious great room; a lavish primary suite showcasing a generous walk-in closet and a private bath with cultured marble countertops; a convenient laundry; a storage area; a covered patio and a 2-car garage. This home also offers additional windows and ceiling fan prewiring in select rooms as well as airy 10' ceilings throughout.

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17599 W Running Deer Trail Surprise, AZ 85387

$499,995

3 Beds

2 Baths

2,370 SqFt

Status Active

MLS # 6643918

Property Type Single Family Residence

Price Type --

You'll find plenty to love about the Raleigh plan! The center of the home boasts a large kitchen with a convenient center island and walk-in pantry, which flows into an open-concept dining nook and great room. This home has three bedrooms and 2 bathrooms, with the master suite W/I shower / drop-in tub combo. Additional options include: extended garage with plenty of storage, ten foot ceilings, gourmet kitchen and great room with multi slide door.

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40363 W Wade Drive Maricopa, AZ 85138

$499,995

5 Beds

3 Baths

3,030 SqFt

Status Active

MLS # 6693668

Property Type Single Family Residence

Price Type --

The Main floor of the inviting Ammolite plan offers a great room and well appointed kitchen with center island and roomy pantry. Upstairs, discover a central loft, a laundry and three secondary bedrooms with a shared bath. A lavish primary suite boasts an expansive walk-in closet and private bath rounds out the floor. You'll love the professionally curated fixtures and finishes selected by our design team.

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