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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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.

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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.

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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!

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5544 W Willow Ridge Drive Laveen, AZ 85339

$499,990

5 Beds

3 Baths

2,668 SqFt

Status Active

MLS # 6679551

Property Type Single Family Residence

Price Type --

Beautiful Brand New Home in a Highly Desirable Central Location - Featuring countless upgrades such as 9' ceilings, Shaw - Milan - Surf 17x17 Tile, Granite countertops in the kitchen. Whirlpool Stainless steel appliances. White cabinets. Energy-efficient features throughout, Programmable thermostat, gas heater, gas range. Spacious walk-in closet in owners suite. Front yard landscaping, covered patio in the backyard. Spectacular Mountain Views! Minutes from downtown Phoenix in a master-planned community featuring walking trails, greenbelts, neighborhood parks and playgrounds. Conveniently located off the Loop 202 and near schools, shopping and dining!

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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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1561 W Pampa Avenue Mesa, AZ 85202

$499,990

3 Beds

2 Baths

1,773 SqFt

Status Active

MLS # 6701989

Property Type Single Family Residence

Price Type --

Discover comfort and sustainability in this charming 3 bedroom 2 bathroom home. Upgraded with owned solar, beautiful custom kitchen, new a/c, fridge and w/d included! Other upgrades include fiber internet, tile throughout, added attic insulation, ceiling fans in all rooms, smart/led lighting, and updated windows. NO HOA! Bring all your toys with expansive RV parking, concrete slab, and custom rv gates for easy access. Garage is temp controlled with new mini a/c split. Close to schools and park. This home is ready to move in!

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42806 N Hudson Trail Anthem, AZ 85086

$499,990

4 Beds

2 Baths

1,827 SqFt

Status Active

MLS # 6684033

Property Type Single Family Residence

Price Type --

Private corner homesite, adjacent to common area on two sides, with only one single story neighbor next door! Highly upgraded Holiday model home includes stone flooring, upgraded tall white baseboards, granite countertops, tile backsplash, white cabinets, stainless appliances. Kitchen island and a pantry. New modern light fixtures, tons of natural light, and new carpet in the bedrooms. Main bedroom has a full bathroom with dual sinks & a walk-in closet. Oversized professionally designed backyard to watch the awesome Anthem sunsets. Extensive use of pavers and a natural gas fire pit. This home is immaculate!

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40900 W Agave Road Maricopa, AZ 85138

$499,990

3 Beds

2 Baths

1,987 SqFt

Status Active

MLS # 6527806

Property Type Single Family Residence

Price Type --

READY FOR MOVE-IN!!! It's our popular Belice floor plan. - 3 bedrooms + flex space, 2 baths and a 3 car tandem garage. Multi Slide door off the great room that leads to the extended covered patio. Walk in shower at owner's bath. Stainless steel gas appliance package with microwave. Wentworth painted white cabinets with 42'' uppers in kitchen. AZT Calcatta Capella quartz countertops in kitchen and owner's bath. 2x5 DT Marble Attache Matte back splash in kitchen. 8' tall interior doors. Upgrade flooring includes level 9 carpet ''Urban'' in bedrooms and owner's closet. MZ Norwood 6x24 Norwood Oak tile in remaining areas of the home. Garage door and a 8' tall garage door for those high profile vehicles and much more.

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30820 N 229th Avenue Wittmann, AZ 85361

$499,990

3 Beds

2 Baths

2,200 SqFt

Status Active

MLS # 6690723

Property Type Manufactured Home

Price Type --

Need your space to stretch out a little? This is the one for you! Come see this 3 bed, 2 bath, 2200 sq ft home situated on nearly 5 acres! PLUS a 1200 sq ft garage/workshop to store all your toys. The entire property is fenced and flat. Much of the home is updated including newer vinyl flooring, granite countertops, newer appliances and the AC is just 6 years old.

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108 N 236th Avenue Buckeye, AZ 85396

$499,980

4 Beds

3 Baths

2,248 SqFt

Status Active

MLS # 6678396

Property Type Single Family Residence

Price Type --

Recently remodeled 4 bed 3 bath with 3 car garage on a view lot with all new soft close kitchen/bathroom cabinets, quartz counters, designer tiled backsplash, modern cabinet hardware, stainless upgraded appliances, large farmhouse sink with commercial sprayer faucet, tile throughout main home, lush carpet and upgraded padding in bedrooms, new chrome interior door hardware, custom walk in tiled oversized master shower, his and her sinks, large master closet, walk out slider doors from master to back patio, blinds, ceiling fans, designer lighting, LED recessed lights, HUGE laundry room, new water heater, newly painted interior/exterior, huge covered patio with a professionally landscaped back yard with built in BBQ area, mountain views, and so much more to see in person!!

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Tubac AZ 85646

$499,900

2 Beds

2 Baths

1,743 SqFt

Status Active

MLS # 6683032

Property Type Single Family Residence

Price Type --

Adjoining the lush Santa Cruz River, the Trails Head community is a vibrant part of the Barrio de Tubac. You can enjoy proximity to the Historic/Artisan Village of Tubac itself which has recently been voted by USA Today as the number one up and coming Artisan Community in the Country. The Trails Head neighborhood also adjoins the renowned Juan Bautista de Anza National Historic Trail which provides many miles of shaded areas to enjoy throughout the year. This 1743 sq/ft , 2 bedroom 2 bath plus den, home is positioned to take advantage of everything Tubac has to offer. Wether it is enjoying shopping and the art scene or experiencing the many outdoor opportunities, Trails Head in the Barrio de Tubac is a wonderful place to call home!

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Pinetop AZ 85935

$499,900

3 Beds

2 Baths

1,740 SqFt

Status Active

MLS # 6695219

Property Type Single Family Residence

Price Type --

Location, Location, Location! Complete renovation was completed in 2019 including plumbing, electrical & beautiful interior finishes. Including wood floors, granite countertops in the kitchen and bathrooms. The front yard offers apple trees, cherry, blackberry, raspberry, elderberry, strawberry plants, and many more ornamental flowering plants. Rock chip seal driveway new June 2021. Attic space offers 300+ sq ft of additional storage w.a pull down ladder installed 2021. A sturdy decorative stone mailbox was built in 2021. No HOA & close to Woodland Lake Park. Better Hurry!

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