Lack of Homes for Sale Slowing Down the Housing Market

The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to 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 winter, supply is not keeping up.

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

National Association of Realtors

“Total housing inventory at the end of December dropped 10.8%…which is the lowest level since NAR began tracking the supply of all housing types in 1999. Inventory has fallen year-over-year for 19 straight months and is at a 3.6-month supply at the current sales pace.”

Jonathan Smoke, Chief Economist for Realtor.com

“More than two-thirds of the markets are seeing less inventory now compared to a year ago.”

Lawrence Yun, Chief Economist at NAR:

“The dismal number of listings in the affordable price range is squeezing prospective first-time buyers the most. As a result, young households are missing out on the wealth gains most homeowners have accrued from the 41% cumulative rise in existing home prices since 2011.”

Sam Khater, Deputy Chief Economist at CoreLogic

“The lack of affordable supply is really driving up home prices.”

Peter Muoio, Chief Economist at Auction.com

“Tight housing inventory remains a constraining factor limiting stronger sales growth…

We expect further price growth to entice more homeowners to list their homes, particularly as existing homeowners have greater equity.”

Bottom Line 

If you are thinking of selling, now may be the time. Demand for your house will be strong 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 information – J.P. Cook – 602-320-4253.

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6202 E Mckellips Road Unit 42 Mesa, AZ 85215

$565,000

2 Beds

2 Baths

1,587 SqFt

Status Active

MLS # 6762857

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the gorgeous, gated community of Tuscany Villas! This beautiful detached home comes **FURNISHED** and offers a prime location right on the **golf course,** perfect for enjoying peaceful mornings or sunset views. Whether you're looking for a full-time residence, a personal vacation getaway, or a lock-and-leave option, this property delivers versatility and luxury. Inside, you'll find an open kitchen, granite countertops and high-quality furnishings throughout. Recent updates include a new HVAC system and water heater. Please see documents tab regarding items that do not convey as well as HOA information.

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4550 E Corral Road Phoenix, AZ 85044

$565,000

3 Beds

2 Baths

1,796 SqFt

Status Active

MLS # 6742076

Property Type Single Family Residence

Price Type --

Why drive to your next hike? Live nestled among the 16,000 acres of South Mountain Park (trailhead access around corner). Homes seldom come to market in this neighborhood, especially a single story, Great Room concept one. Enjoy engineered hardwood floors through out most of the house & brand new carpet in the secondary bedrooms. Dual pane windows make summer a whole lot easier to handle. Once we cool off, the two-way wood burning fireplace gives your nest an ambience you never knew you ''needed.'' Outside, the front courtyard is the perfect party patio. Use the Tuff Shed for extra storage or hobbies. With electiricity & a loft the possbilties are endless! There's no HOA. Parking an RV or boat on your concrete slab space is A-ok here. A nest perfect for those who love the great outdoors!

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16085 W Alameda Road Surprise, AZ 85387

$565,000

3 Beds

2.5 Baths

2,019 SqFt

Status Active

MLS # 6772867

Property Type Single Family Residence

Price Type --

The seller is offering a 3% concession. This beautiful, move-in-ready home features a gourmet kitchen with upgraded cabinetry, a stylish backsplash, stainless steel appliances, granite countertops, and a walk-in pantry. The spacious great room opens to a backyard that is ready for you to create your ideal outdoor oasis. Bedrooms #2 and #3 share a guest bathroom and are separated from the primary bedroom for added privacy. Enjoy shutters and ceiling fans throughout, and soft water system. The community provides exceptional amenities, including an aquatic center, pickleball, sand volleyball, bocce ball, playgrounds, trails, zip lines, and frisbee golf! Special financing incentives are available on this property through SIRVA Mortgage.

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2235 W Aston Drive San Tan Valley, AZ 85144

Open House

$565,000

4 Beds

2.5 Baths

2,553 SqFt

Status Active

MLS # 6711865

Property Type Single Family Residence

Price Type --

Seller may consider buyer concessions if made in an offer. Welcome to this beautiful property with a natural color palette that creates a serene atmosphere throughout the home. The kitchen features a center island for extra counter space, while the primary bedroom boasts a walk-in closet for ample storage. The primary bathroom offers a separate tub and shower, double sinks, and good under sink storage. Step outside to the fenced backyard, complete with a private in-ground pool and covered sitting area. Fresh interior paint and partial flooring replacement in some areas make this home move-in ready. Don't miss out on this fantastic opportunity!

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7682 W Saddlehorn Road Peoria, AZ 85383

New

$564,990

3 Beds

2 Baths

1,779 SqFt

Status Active

MLS # 6787471

Property Type Single Family Residence

Price Type --

''Welcome to the beautiful Marigold plan, offering 1,779 square feet of thoughtfully designed living space. This charming home features 3 bedrooms, 2 baths, and a versatile den—perfect for a home office, library, or personal retreat. Ideal for modern living, the open-concept layout creates a seamless flow between the spacious great room, kitchen, and dining area. The heart of the home is the stylish kitchen, featuring sleek gray cabinetry, complemented by contemporary black hardware. A large white quartz island serves as both a functional workspace and an inviting gathering spot for gatherings and friends. The kitchen flows effortlessly into the great room, where a striking center sliding door opens to the outdoor space, blending indoor and outdoor living for a truly spacious feel. The elegant Spanish elevation enhances the curb appeal of this home, with its distinctive architectural features and timeless design. Inside, you'll find stunning Edgewood steel plank tile flooring throughout, offering both durability and beauty in every room. The spacious primary suite includes dual vanities and a walk-in shower. The convenient half-bath serves guests and adds to the functionality of the home. With a 2-car garage offering additional storage space, this home provides the perfect balance of style, comfort, and practicality. Whether you're working from home in the study, relaxing in the great room, or enjoying the outdoors through the sliding doors, the Marigold plan offers a warm, inviting atmosphere for all to enjoy.

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14946 W Smoketree Drive Surprise, AZ 85387

$564,990

4 Beds

2.5 Baths

2,468 SqFt

Status Active

MLS # 6786413

Property Type Single Family Residence

Price Type --

Ask about special financing with preferred lender! Homeowners will enjoy a spacious open floorplan where the Great Room, kitchen and dining room share a footprint and offer direct access to a covered patio through sliding glass doors. A versatile den is ideal for families who need a home office. Three secondary bedrooms are situated off the foyer, while the luxurious owner's suite is found at the back of the home. Photos are of a model home, not the actual home. A public report is available on the Arizona Department of Real Estate website.

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16687 W Saguaro Park Lane Surprise, AZ 85387

$564,990

4 Beds

3.5 Baths

2,664 SqFt

Status Active

MLS # 6742761

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. This Parklane floorplan offers 4 bedrooms, 3.5 baths, a garage extension, a no-step shower, and 8' interior doors among its standout features. The home also includes built-in appliances, quartz kitchen counters, a gas stub in the kitchen for BBQs, and a laundry area equipped for a gas dryer.

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20239 W Catalina Drive Buckeye, AZ 85396

$564,990

4 Beds

2.5 Baths

2,561 SqFt

Status Active

MLS # 6655095

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! MOVE-IN BEFORE THE HOLIDAYS! It's the beautiful Cinnabar with 4 bedrooms, 2.5 baths, 3 car tandem garage. Brick pavers at drive, walk and entry. Large multi slide door off the great room that leads out to the covered patio. Stainless steel gas appliance package with a 30'' cooktop, wall oven and glass canopy hood. Barnett ''Linen-off white'' cabinets with 42'' kitchen uppers, pull out trash drawer with two bins. DT Quartz countertops in evening gray in kitchen and at the enhanced kitchen island. Upgrade flooring includes EMS Beaumont 7x24 Bosso tile in all areas of the home except bedrooms & closets. Tile surrounds at tub and shower in owner's bath. Dual sinks at bath 2, gas stub for future BBQ, Pre-plumb for soft water and so much more. Please verify information with onsite agent. Thank you!

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18944 W Ocotillo Road Waddell, AZ 85355

$564,990

3 Beds

2 Baths

2,224 SqFt

Status Active

MLS # 6739345

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! We're building this home at the beautiful Windrose community. It's the very popular Crimson with 3 bedrooms + flex space, 2.5 baths. Multi slide door that leads out to the extended covered patio. Large walk in shower at owner's bath. Stainless steel gas appliance package with a 30'' cooktop. Linen-off white cabinets with hardware, pull out trash drawer with two bins, 42'' kitchen uppers. AZT White sand granite countertops. Undermount single bowl kitchen sink. Upgrade flooring includes EMS Ravenna Olmo 7x24 plank tile in all areas of the home except bedrooms/closets and 5'' base boards and 3 1/4'' door casings. 8' tall garage door 2 openers & garage service door. Please verify all information with onsite agent. Thank you!

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9230 N 82nd Lane Peoria, AZ 85345

$564,990

6 Beds

3 Baths

3,156 SqFt

Status Active

MLS # 6785062

Property Type Single Family Residence

Price Type --

Welcome to this stunning two-story property in Peoria! Fully remodeled with fresh paint inside and out, this 6-bedroom, 3-bathroom home features a low-maintenance front yard, a 2-car garage with an RV gate, and exceptional flexibility for various living arrangements. The home boasts two fully equipped kitchens, two laundry areas (one on each level), and separate access to the upper floor from both inside and outside, making it perfect for short-term or long-term rental opportunities. This beautifully updated property is a must-see!

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1976 S Follett Way Gilbert, AZ 85295

$564,990

4 Beds

3.5 Baths

2,084 SqFt

Status Active

MLS # 6756086

Property Type Single Family Residence

Price Type --

This FANTASTIC 2018 home on a UNIQUE PREMIUM lot is full of UPGRADES! GOURMET kitchen w/stacked espresso stained cabinets, quartz countertops, stainless appliances including new dishwasher + island w/breakfast bar! Open concept great room w/wall of sliders! Head upstairs to 4 bedrooms (all with walk-in closets), 3 baths + a loft! Primary bedroom w/GORGEOUS ensuite bath w/BIG shower + built-in seat! Head outside to your EXTRA LARGE low maintenance backyard w/covered patio, pavers + faux grass! Carpets were cleaned, grout re-stained on the upgraded tile flooring + garage epoxy! This home is truly move-in ready!! Rare in this community to have a driveway! Don't miss this opportunity! Close to SO many wonderful restaurants/shopping including Agritopia, San Tan Village and MORE! WELCOME HOME! Upgraded options include hand-applied 95% smooth finish drywall, 5 baseboards, two-tone paint, wood-grain tile flooring, and plush carpet in the bedrooms. The 4th bedroom includes a full bath, and all bedrooms are equipped with spacious walk-in closets. Step outside to a meticulously landscaped backyard, complete with pavers, artificial turf, low-voltage lighting, and a stucco wall, perfect for relaxing or entertaining.

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260 S 165th Avenue Goodyear, AZ 85338

$564,990

3 Beds

3 Baths

2,456 SqFt

Status Active

MLS # 6739798

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! It's the Amethyst floor plan with 3 bedrooms + flex space to use as you wish, 3 baths. 12'x'8' off the extended covered patio great for entertaining. Sonoma Maple Linen - off white cabinets with T-bar pull hardware in matte black. Kitchen has stainless steel gas appliance package with 30'' cooktop, wall oven, canopy hood, 42'' uppers with pull out trash drawer with two bins. AZT quartz Tawny quartz countertops in kitchen and and at enhanced kitchen island and owner's bath. Upgrade flooring includes Beaumont Olmo 7x24 plank tile in all areas of the home except for bedrooms and closets. Dual sinks at bath 2, soft water loop, 8' garage door with 2 openers and so much more. Please verify all information with onsite agent . Thank you!

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