Inventory Shortages Are Slowing Down the Market

The real estate market is moving more and more into a complete recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2017 will be the year that the housing market races forward again.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the summer, supply is not keeping up.

Here are the thoughts of a few industry experts on the subject:

Lawrence Yun, Chief Economist at NAR:

“Sellers are in the driver’s seat this spring as the intense competition for the few homes for sale is forcing many buyers to be aggressive in their offers. Buyers are showing resiliency given the challenging conditions. However, at some point — and the sooner the better — price growth must ease to a healthier rate. Otherwise sales could slow if affordability conditions worsen.”

Tom O’Grady, Pro Teck CEO

“The lack of inventory is very real and could have a severe impact on home sales in the months to come. Traditionally, a balanced market would have an MRI (Months Remaining Inventory) between six and 10 months.

This month, only eight metros we track have MRIs over 10, compared to 27 last year and 48 two years ago—illustrating that this lack of inventory is not being driven by traditionally ‘hot’ markets, but is rather a broad-based, national phenomenon.”

Ralph McLaughlin, Chief Economist at Trulia

“Nationally, housing inventory dropped to its lowest level on record in 2017 Q1. The number of homes on the market dropped for the eighth consecutive quarter, falling 5.1% over the past year.”

Freddie Mac

“Tight housing inventory has been an important feature of the housing market at least since 2016. For-sale housing inventory, especially of starter homes, is currently at its lowest level in over ten years. If inventory continues to remain tight, home sales will likely decline from their 2016 levels. …all eyes are on housing inventory and whether or not it will meet the high demand.”

Bottom Line

If you are thinking of selling, now may be the time. Demand for your house will be strongest at a time when there is very little competition. That could lead to a quick sale for a really good price.  Give me a call for more details – J.P. Cook – 602-320-4253.

What’s Your Home Worth?

Search for Your New Home

Listing types.

For Sale

For Rent

Land

Multifamily

Commercial

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

Location Search Nearby

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

School District

Address, MLS# or Keyword

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

Address, MLS# or Keyword

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+

View As: Thumbnails List

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

4082 N Monticello Drive Florence, AZ 85132

$564,900

2 Beds

2 Baths

2,352 SqFt

Status Active

MLS # 6784576

Property Type Single Family Residence

Price Type --

This immaculate 2 bed, 2 bath, w/den ''Concord'' model has all of the upgrades and options one would want. Your new home is located on an arroyo lot with no neighbors directly behind or to one side. Close the electric shades and enjoy cool winter nights on your spacious paver patio. Inside your new home is as amazing as out. The kitchen has staggered cherry cabinets, stainless steel appliances, granite countertops, pull out drawers, R/O, pendant lights and a breakfast nook. The spacious primary suite has a separate tub and shower, dual sinks and walk-in closet. More features of the home include plantation shutters, ceiling fans, extra storage in laundry/garage, epoxy floors, 3-car GARAGE w/4 FT EXTENSION, water softener, solar shades, service door, and OWNED SOLAR! SIMPLY A MUST SEE HOME!!

View Property

2505 W Corral Road Phoenix, AZ 85041

$564,900

3 Beds

2.5 Baths

2,406 SqFt

Status Active Under Contract

MLS # 6751747

Property Type Single Family Residence

Price Type --

SELLER TO HELP WITH BUYER FEES TO MAKE THIS HAPPEN IF CLOSED BY 12/15/24. WALK TO SOUTH MOUNTAIN FROM THIS IMMACULATE AND WELL-MAINTAINED, LARGE 3 BEDROOMS, 2.5 BATH (W/ITH DEN/OFFICE). THIS BEAUTIFUL SINGLE LEVEL IS IN A GREAT LOCATION AND NESTLED INSIDE A GATED COMMUNTY FOR PLENTY OF SAFETY AND PRIVACY. PAMPER YOURSELF, AND INDULGE YOURSELF ON A DAILY BASIS., YOU GET A SPACIOUS KITCHEN WITH GRANITE COUNTER TOPS AND LARGE STAGGERED CABINETS, WITH A WALKIN PANTRY, CENTRAL HVAC, AND PROGRAMMABLE THERMOSTATS. TO TOP THIS PUPPY OFF, YOU GET A LARGE 3-CAR GARAGE WITH AWESOME AND HELPFUL NEIGHBORS. THERE IS A LOT OF HIKING TRAILS, BIKE TRAILS, AND HORSEBACK RIDING CLOSE BY, OR SIMPLY STAY HOME AND ENJOY YOUR LARGE BACKYARD.

View Property

2772 S Betty Street Gilbert, AZ 85295

$564,900

4 Beds

3 Baths

2,067 SqFt

Status Active

MLS # 6785326

Property Type Single Family Residence

Price Type --

Stunning, only lived in one year, 4/3 with all appliances in great location with community pool. Easy care yard, stainless appliances, granite counters, ceiling fans and much more! This one is a must see on any list! Come and see me today!

View Property

296 W Burtons Lane Tonto Basin, AZ 85553

$564,900

3 Beds

3 Baths

2,240 SqFt

Status Active

MLS # 6695245

Property Type Single Family Residence

Price Type --

Nestled amidst the serene landscape of Tonto Basin, this exquisite property at 296 W Burtons Lane offers a unique blend of luxury and tranquility. Spanning over 6.14 acres of pristine land, you're guaranteed privacy with no possibility of neighbors building close by. The estate boasts a fully-equipped RV hookup, perfect for the adventurous at heart. The grounds are a horticultural delight with multiple fruit trees dotting the landscape, providing both shade and bounty. The residence itself offers phenomenal views of Mount Ord, Four Peaks, and Picture Mountain, ensuring a picturesque backdrop to your daily life. Inside, the home welcomes you with a totally remodeled kitchen, featuring Brazilian granite countertops, a spacious walk-in pantry, and all new appliances. The property also includes horse stalls, catering to equestrian enthusiasts. Also, the brand-new bridges across Tonto Creek to be finished in June.

View Property

3422 E Ravenswood Drive Gilbert, AZ 85298

$564,900

3 Beds

2 Baths

1,750 SqFt

Status Active

MLS # 6718352

Property Type Single Family Residence

Price Type --

Located in Seville Golf & Country Club neighborhood! 3 bedroom, 2 bath home with pool, built-in BBQ and extensive upgrades. Gourmet kitchen with granite countertops, walk-in pantry with frosted glass door, maple cabinets, island and peninsula bar top. Formal dining and kitchen nook. Family room with french door exits to backyard. Master Suite with two walk-in closets, double sinks, tile surround bathtub and shower. Backyard Oasis! Travertine pavers surround the sparkling pool. Covered ramada with built-in BBQ. Wood shutters. 2 car garage. This home resides in the prestigious Seville Golf & Country Club and close to neighborhood park! Owned Solar, enjoy low SRP bills.

View Property

3862 E Narrowleaf Drive Gilbert, AZ 85298

$564,900

4 Beds

3 Baths

1,940 SqFt

Status Active

MLS # 6747524

Property Type Single Family Residence

Price Type --

This charming home, located in the highly sought-after Bridges at Gilbert, is brimming with character and ready for its next owner. Meticulously maintained and turn-key ready, this residence features an open-concept floor plan that seamlessly combines a spacious living area with upgraded plank tile flooring, soaring vaulted ceilings, granite countertops, and modern cabinetry. The generously sized primary bedroom, tucked away at the rear of the home, offers privacy and direct access to the backyard. A Jack and Jill bathroom serves an oversized secondary bedroom, providing convenience and functionality. The split and open floor plan enhances the home's cozy yet private atmosphere. The RO system and Water softener are owned and convey with the property. With professional low-maintenance landscaping, impressive curb appeal, practical updates, community amenities, and an unrivaled location, this property is the perfect place to call home.

View Property

1020 N Blue Marlin Drive Gilbert, AZ 85234

$564,900

5 Beds

3 Baths

2,610 SqFt

Status Active Under Contract

MLS # 6760750

Property Type Single Family Residence

Price Type --

BRING ALL OFFERS! Assume Loan 2.75%, No HOA, 5-bed 3-bath directly across from community park. 2 new HVAC systems installed in 2021, vaulted ceilings, and abundant natural light throughout. Formal living & dining areas, wood-look floors & modern neutral tones, creating a warm & inviting atmosphere. Cozy family room just off spacious eat-in kitchen, granite countertops, stylish white cabinetry, stainless steel appliances, a center island & convenient pantry. Primary bedroom retreat w/ double doors, bay window, space for sitting area. Ensuite bathroom has dual sinks, walk-in closet & separate soaking tub & shower. Versatile downstairs bedroom and full bathroom provides comfort & flexibility, perfect for guests or multi-generational living. Great backyard for outdoor dining & entertaining.

View Property

18581 W College Drive Goodyear, AZ 85395

$564,900

3 Beds

2 Baths

2,279 SqFt

Status Active

MLS # 6778682

Property Type Single Family Residence

Price Type --

Discover this stunning 3-bedroom, 2-bath home in the highly sought-after Sedella Community. This gem offers everything you could want, including a spacious 3-car garage, RV gate, and dedicated RV parking. Step inside and be captivated by the bright, open floor plan adorned with stylish tile flooring, a custom entertainment niche, and an abundance of natural light pouring in through large windows. The chef's kitchen is a dream come true, featuring upgraded cabinetry, granite countertops, a prep island with a breakfast bar, recessed and pendant lighting, a walk-in pantry, and stainless steel appliances, including a gas cooktop and wall oven. There's even a cozy nook, ideal for a pocket office or a special space for your furry friend. Retreat to the main bedroom, a serene haven with plush carpeting, dual vanities, and a spacious walk-in closet. Outside, enjoy a generous backyard designed for relaxation and entertaining, complete with a covered patio and built-in bar - perfect for year-round gatherings. Don't miss out on this exceptional home!

View Property

9315 E Arrowvale Drive Sun Lakes, AZ 85248

$564,900

2 Beds

2 Baths

1,842 SqFt

Status Active

MLS # 6779048

Property Type Single Family Residence

Price Type --

Welcome home! This 2-bedroom, 2-bath residence features a 2-car garage, a paver driveway, and a well-maintained front yard. You'll be delighted by the living/dining room with vaulted ceilings, a soothing palette, and durable tile flooring. The gourmet kitchen boasts a breakfast nook, granite counters, custom wood cabinetry with crown moulding, recessed lighting, built-in appliances, a pantry, and an island with a breakfast bar. You'll also find a versatile den ideal for an office or study. The main bedroom offers plush carpeting, a quaint sitting nook, an ensuite with dual sinks, and a walk-in closet. Enjoy relaxing outdoor moments in the backyard, showcasing a covered patio and abundant space for hosting memorable gatherings with loved ones. Make it yours today!

View Property

11840 N 59th Lane Glendale, AZ 85304

$564,850

4 Beds

3 Baths

2,523 SqFt

Status Active

MLS # 6673649

Property Type Single Family Residence

Price Type --

Beautifully Designed Single Level Multi-Generational Home with Split Floorplan located in The Gated Community of Cholla Cove. Two Master Bedrooms, Two Additional Bedrooms, Spacious Den/Office, Wide Hallways, and comes with Plenty of Storage. Relax out by the Saltwater Play Pool or Enjoy the Plush Grass. *Solar Panels are Owned* Home is monitored by ADT, Vacuflo Central Vac, Envirotec Water Softner System, Large Tile, Granite Countertops, Epoxy Garage Floors, Professionally Landscaped, and many more upgrades included with this property. Home is located across the street from the Mailbox and Green Belt with Ramada where it sits on an Interior Lot in a Quite Sought-After Community,

View Property

10539 E Corbin Avenue Mesa, AZ 85212

$564,000

3 Beds

2.5 Baths

1,788 SqFt

Status Active

MLS # 6786971

Property Type Single Family Residence

Price Type --

Experience luxury in this gorgeous 3-bedroom home in the highly sought after community of Eastmark! Minutes away from grocery stores, restaurants, and shopping. The elegant stone-accented exterior and 3-car tandem garage with workshop set the stage for sophistication. Inside, you'll find wood porcelain tile, shutters, and a neutral palette complementing the great room's charm, all enhanced by pre-wired surround sound. The sleek kitchen is a chef's delight, featuring stainless-steel appliances, wall ovens, granite counters, a mosaic backsplash, a pantry, and an island with a breakfast bar.The main suite offers a spa-like retreat with dual sinks, a soaking tub, and a walk-in closet. Relax in the tranquil backyard with a covered patio and cozy fire pit. This is an amazing home-don't miss it!

View Property

1972 W Olive Way Chandler, AZ 85248

$564,000

3 Beds

2 Baths

1,910 SqFt

Status Active

MLS # 6744573

Property Type Single Family Residence

Price Type --

Welcome to this captivating 3-bedroom, 2-bath residence in Montefino Village! Discover a welcoming living/dining room with high ceilings, a soothing palette, classic plantation shutters on the new Low E windows, and contemporary wood-look flooring. The inviting family room is perfect for gathering loved ones, featuring sliding doors leading to the backyard for seamless indoor-outdoor living. The gourmet kitchen comes with durable tile counters, ample wood cabinetry with crown moulding, recessed lighting, SS appliances, a pantry, and a two-tier island/breakfast bar. The main bedroom offers plush carpeting, an ensuite with dual sinks, and a walk-in closet. The backyard oasis showcases a covered patio and a refreshing pool for cooling down on hot days. This gem will sell fast!

View Property