Lack of Homes for Sale Slowing Down the Housing Market

Lack of Homes for Sale Slowing Down the Housing Market | Simplifying The 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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19589 W Jamestown Road Buckeye, AZ 85396

$499,995
3 Beds
2.5 Baths
2,400 SqFt
Status Active
MLS # 6648555
Property Type Single Family Residence
Price Type --
The heart of this floor plan is an open layout with a great room, a breakfast nook with center meet doors and a kitchen with a walk-in pantry and a center island. The owner's suite is adjacent, and showcases a generous walk-in closet and an attached bath with double sinks. . A private study, two bedrooms and a bath round out the residence.

19648 W Windsor Avenue Buckeye, AZ 85396

$499,995
4 Beds
3 Baths
2,070 SqFt
Status Active
MLS # 6622825
Property Type Single Family Residence
Price Type --
Explore this beautiful Slate home, ready for quick move-in on a homesite boasting driveway pavers and front yard landscaping. Included features: an inviting covered entry; an open dining area; an impressive kitchen offering 42'' cabinets, quartz countertops, stainless-steel appliances, a roomy pantry and a center island; a spacious great room; a lavish primary suite showcasing a generous walk-in closet and a private bath with cultured marble countertops; a 2nd bedroom with private bath and walk-in closet, a central laundry; a convenient storage area; a covered patio and a roomy 2-car garage. This home also offers stone tile flooring, ceiling fan prewiring and additional windows in select rooms.

5512 W Olney Avenue Laveen, AZ 85339

$499,990
4 Beds
3 Baths
2,150 SqFt
Status Active
MLS # 6703313
Property Type Single Family Residence
Price Type --
''Welcome to your dream home! Nestled on a spacious corner homesite, this charming single-story residence boasts comfort, style, and modern convenience at every turn. With 2,100 square feet of living space, this meticulously designed home offers ample room for relaxation and entertaining. As you approach, you'll be captivated by the inviting farmhouse exterior and charming front porch. The paver driveway leads you to a three-car garage, providing ample space for vehicles and storage. Step inside and be greeted by an abundance of natural light that illuminates the open-concept floor plan. The heart of the home is the expansive living area, featuring a stunning four-panel sliding door that seamlessly connects the indoor and outdoor spaces. Imagine hosting gatherings with loved ones or simply enjoying tranquil moments on the covered patio. The kitchen is sure to delight the chef in the family, with tall 42-inch cabinets, sleek hardware, and a beautiful backsplash that adds a touch of elegance. The white quartz countertops provide ample workspace, while the large island offers additional seating for casual meals or homework sessions. Equipped with top-of-the-line stainless steel appliances, including a gas range and built-in microwave, this kitchen is as functional as it is stylish. Adjacent to the kitchen, you'll find a versatile den, ideal for a home office, study, or playroom. Three spacious bedrooms offer comfort and privacy for family and guests, each featuring plush carpeting and ample closet space. The primary suite is a true retreat, boasting a luxurious ensuite bathroom with dual square sinks, upgraded fixtures, and a separate walk-in shower. Throughout the home, you'll appreciate the modern aesthetic of 12 by 24 plank tile flooring, offering durability and easy maintenance. Except for the bedrooms and den, this stylish flooring extends seamlessly throughout the living spaces, creating a cohesive and welcoming atmosphere.

2875 W Shanley Avenue Apache Junction, AZ 85120

$499,990
4 Beds
2 Baths
2,051 SqFt
Status Active
MLS # 6704077
Property Type Single Family Residence
Price Type --
Welcome to Radiance at Superstition Vistas, a brand new master planned community located on the border where Mesa meets Apache Junction. This is a rare opportunity for optimal living - to have the convenience of city living while enjoying the breathtaking Superstition mountains! Small town feel meets modern amenities at its best! The KINGSTON-2051 sq ft, 4 bed/2 bath adorable, energy efficient single level home in which you will find tile in all common areas, 9 foot ceilings and on trend extra bright white walls. The kitchen has gorgeous maple cabinets, granite countertops & large island. Located close to the 24, 60 & 202.

7409 W State Avenue Glendale, AZ 85303

$499,990 - 4Br/3Ba -  for Sale in Alto, Glendale
New
$499,990
4 Beds
2.5 Baths
2,465 SqFt
Status Active
MLS # 6704821
Property Type Single Family Residence
Price Type --
Almost complete, new build home with Early Summer 2024 move-in! Amazing single family 4-bedroom 2.5-bathroom, 2 car garage home positioned on a N/S facing homesite within the desirable Alto gated community!!! This Tenor floor plan features quartz kitchen countertops, modern white full overlay cabinets, stainless kitchen appliances, contemporary imperfect smooth walls, and much more! ^^^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

22896 E Roundup Way Queen Creek, AZ 85142

$499,990 - 3Br/2Ba -  for Sale in Madera, Queen Creek
New
$499,990
3 Beds
2 Baths
1,567 SqFt
Status Active
MLS # 6705357
Property Type Single Family Residence
Price Type --
''Welcome to Madera, our beautiful community nestled in Queen Creek! Experience serene living with easy access to the 24 Freeway and nearby shopping, all while enjoying an array of fantastic community amenities. From the inviting community pool to the recreational offerings of pickleball, bocce ball, playgrounds, BBQ areas, and charming ramadas, there's something for everyone here. Step into this delightful new construction home, featuring 3 bedrooms, and 2 full bathrooms. The Violet floorplan offers a spacious kitchen with a large island, pantry, and expansive dining and great room areas, ideal for entertaining guests or enjoying quality family time. Embrace the elegance of our Timeless Palette, featuring 6 x 24 plank tile floors in the main living areas, plush carpeting in the bedrooms, stylish white 42 shaker upper cabinets with cabinet hardware, and stunning Ivory White quartz kitchen countertops paired with white herringbone tile backsplash. Included are 8' interior doors, 4-panel slider, Refrigerator, SS appliances with gas range, as well as pre-wire for pendent lighting in the kitchen. Don't let this opportunity pass you by! Contact us today to schedule a personalized tour and begin your journey to owning your dream home at Madera.

32204 N Sonny Jim Road San Tan Valley, AZ 85140

$499,990
4 Beds
3.5 Baths
3,020 SqFt
Status Active
MLS # 6679026
Property Type Single Family Residence
Price Type --
New Construction!! Nestled perfectly in the sought after city of San Tan Valley. Adorable 2-story home with 4 bedrooms, 3.5 bathrooms, large den and a loft, with a 3 car tandem car garage. Ashton Woods offers a spacious owner's suite, stainless steel appliances, granite kitchen countertops and classic white shaker style cabinets makes this a place to call home. Conveniently located off of Combs Rd and Schnepf Rd. As with all of our homes, this one is also constructed as ''Energy Star'' for remarkable comfort, energy efficiency and environmental sustainability!

5622 W Thurman Drive Laveen, AZ 85339

$499,990
4 Beds
3 Baths
2,124 SqFt
Status Active
MLS # 6690313
Property Type Single Family Residence
Price Type --
Welcome to this stunning newly constructed single-story home offering a perfect blend of modern convenience and classic design in Laveen's beautiful Estrella Crossing Community featuring mountain views, miles of walking paths, open green spaces and parks! . There's plenty of curb appeal with a modern-desert exterior finish complete with a welcoming front porch and front yard landscaping. The interior boast 2124 square feet of meticulously designed living space including 4 bedrooms, 3 bathrooms and a den just off the second bedroom and bathroom which is designed perfectly to be used for a guest retreat, work from home space or private in-law or teen sweet. This home presents the Harmony pallet interior design finishes with open concept living through out the kitchen, dining and great rooms and features 8 foot doors through out giving it a feeling of grandior. The kitchen boasts a large island, quartz countertop and stainless steel appliances with a gas range accented with a signature Harmony backsplash and black cabinet pulls. The primary bedroom with on suite bath is situated at the back of the home offering quiet and privacy and has a window view of the backyard area. The 4-car tandem garage offers ample parking or storage and includes a garage door opener for your convenience. Right now, Ashton Woods is pleased to include ALL APPLIANCES in this home, making your move-in process seamless. You will find stainless steel dishwasher, stove, and refrigerator in the kitchen, and matching washer-dryer in the well-appointed laundry room .Don't miss out on making this residence yours. Located right off the new Loop 202 and Elliot. Great location close to dining, freeways, parks, and entertainment.

32166 N Buckaroo Road San Tan Valley, AZ 85140

$499,990
3 Beds
2.5 Baths
2,507 SqFt
Status Active
MLS # 6693627
Property Type Single Family Residence
Price Type --
Introducing Topaz floor plan. This single-story haven boasts a perfect fusion of modern charm and functional design. This home spans a comfortable and efficient layout across 2507 square feet.Nestled in the city of San Tan Valley, the exterior exudes curb appeal with its spanish facade and desert landscaped front yard. Step through the front door into a welcoming foyer, where the seamless flow of the open-concept design invites you further into the heart of the home, showcasing the 8' doors.The heart of the home, the kitchen, is adorned with quartz countertops, stainless steel appliances, separate dining and a convenient center island.The owner suite includes a well-appointed bathroom, and ample closet space. Two additional bedrooms provide comfort and convenience for family members or or guests. The den, a versatile space serves as the perfect home office, library, or cozy retreat for relaxation. 4 panel sliding glass doors open to the backyard where outdoor living comes to life. Whether hosting barbecues, gardening, or simply enjoying a quiet evening under the stars, the backyard offers a private escape. Embrace the ease of single-story living in this thoughtfully designed residence, where every detail has been carefully considered for the ultimate in modern lifestyle.

17672 W Encinas Lane Goodyear, AZ 85338

$499,990
4 Beds
3 Baths
2,309 SqFt
Status Active
MLS # 6698007
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.'' The Cantania floor plan includes 4 bedrooms, 3 bathrooms, a den, a luxurious super shower in the owner's suite, a water softener loop, and an 8-foot garage door for extra height. The home also offers a chef-style kitchen with quartz countertops, gas stubs in both the kitchen and the backyard, and window blinds throughout.

15912 W Bronco Trail Surprise, AZ 85387

$499,990
4 Beds
3 Baths
2,434 SqFt
Status Active
MLS # 6703902
Property Type Single Family Residence
Price Type --
Congratulation on finding this wonderful quick close home with such awesome upgrades, the quartz countertops and upgraded backsplash will add a touch of elegance to your kitchen but also provide durability, the oversized glass door in the great room will bring in natural light! Gas connections for your range, BBQ, and dryer provides more efficient dryer, and cooking and grilling, so with a combination of modern electrical features and carefully chosen window coverings, you can enjoy a sophisticated and energy-efficient living space right from the moment you move in. A tankless water heater is a great choice for your home as it provides hot water on demand eliminating the need for a storage tank the home is Energy Star Certified to save you money and Smart home modern!

3610 E Peralta Canyon Lane San Tan Valley, AZ 85140

$499,990
3 Beds
2 Baths
1,832 SqFt
Status Active
MLS # 6688521
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#6688521 Ready Now! Model home sale! The Edmonton at the new Combs Ranch Discovery community is a thoughtfully designed single story home offering 4 bedrooms, spacious owner's suite, and outdoor living space. Just off the foyer is the dining room that opens to the beautifully upgraded kitchen. There is plenty room to entertain or relax in the gathering room that overlooks the outdoor living. Design upgrades include: paver front porch, fully landscaped backyard, custom built in, curtains, GE top load white washer and dryer, Ge profile refrigerator, insulated garage, soft water loop and outdoor gas stub. Design upgrades include: paver front porch, fully landscaped backyard, custom built in, curtains, GE top load white washer and dryer, Ge profile refrigerator, insulated garage, soft water loop and outdoor gas stub.

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