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

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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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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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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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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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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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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21472 N Elba Road Maricopa, AZ 85138

Open House

$499,995

4 Beds

3.5 Baths

2,500 SqFt

Status Active

MLS # 6666354

Property Type Single Family Residence

Price Type --

The ranch-style Cassandra plan showcases an open layout with a great room, a breakfast nook and a large kitchen that's ready to enjoy. The owner's suite is adjacent, and boasts a generous walk-in closet and an attached bath. Two additional bedrooms flank a full bath upon entry, and the nearby fourth bedroom and third bathroom give you all the space and comfort you'll need.

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15794 W Mckinley Street Goodyear, AZ 85338

$499,995

4 Beds

2 Baths

2,265 SqFt

Status Active

MLS # 6694239

Property Type Single Family Residence

Price Type --

Gorgeous corner lot home with north/south exposure. This spacious open floor plan home includes 2,265 sqft. of open living space, 3 bedrooms + 1 den, 2 bathrooms, a split floor plan, tile on all common areas, wall to wall sliding glass door with power controlled blinds, a beautiful gourmet kitchen. The kitchen features dark espresso cabinetry, granite counters, tile backsplash, stainless appliances including a gas range and oversized kitchen island with plentiful breakfast bar seating. Walk into the master bathroom with a rain shower that you will never want to leave. Enjoy those mornings and evenings in your own backyard's small private oasis. This property is a MUST SEE!!!!

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3935 E Rough Rider Road Phoenix, AZ 85050

$499,995

3 Beds

2.5 Baths

1,575 SqFt

Status Active

MLS # 6698733

Property Type Apartment

Price Type --

Welcome to luxury living in the heart of Desert Ridge! This might be the best location in this desirable gated enclave, featuring 3 full bedrooms, 2.5 baths, 2 car garage, granite counters, stainless steel appliances, soft water system and all appliances included! The stunning Villages at Aviano features incredible amenities! In addition to the heated pool and outdoor spaces within the complex, you also have full access to the award winning Aviano facilities featuring heated pool, spa, fitness center, weight room, tennis & basketball courts, rock wall and a more! Desert Ridge is the place to be! Over 30 restaurants within 5 min, world class shopping, highly rated schools, amazing parks and ample open spaces-the crown jewel of the North Valley!

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3614 W Cobalt Court San Tan Valley, AZ 85144

$499,995

4 Beds

3 Baths

1,991 SqFt

Status Active

MLS # 6700066

Property Type Single Family Residence

Price Type --

This beautiful home was crafted for the way you live. The open-concept kitchen provides connectivity to the main living area with prime access to the outdoor patio. Embrace relaxation in the sun-filled great room that is bursting with natural light and is adjacent to the kitchen and casual dining area. A first-floor office provides the space to work from home. Don't miss this opportunity!

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18016 W Puget Avenue Waddell, AZ 85355

$499,995

3 Beds

3 Baths

1,870 SqFt

Status Active

MLS # 6661377

Property Type Single Family Residence

Price Type --

BEAUTIFUL MODEL HOME-Enjoy this ready to move in 3 Bedroom 3 Bath with Study popular Larimar floorplan that offers endless upgrades including 9' ft ceilings, quartz countertops throughout ,an open great room with center-meet slider doors, immaculate landscaped backyard with firepit and comes fully designer furnished. This is an Incredible Value & A Must See!!!!

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3743 E Longhorn Drive Gilbert, AZ 85297

$499,995

4 Beds

2 Baths

1,656 SqFt

Status Active

MLS # 6694088

Property Type Single Family Residence

Price Type --

Stunning single-level home offering a blend of comfort, style, and entertainment. Step inside to discover updates throuhgout including new laminate flooring, new paint, and a wired surround sound system. The attic insulation was also redone, ensuring year-round comfort and efficency. The open floorplan flows right into the kitchen with granite countertops and dark stainless steel appliances. 4 spacious bedrooms can be found down the hall along with 2 updated / modern style bathrooms. Venture into the backyard to see the refreshing pool, perfect for cooling off during those warm AZ days. This home is nestled in an A+ school district and conveniently located near walking paths and the Gilbert Temple. Don't miss out!

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