Epic Housing Shortage Being Reported

Epic Housing Shortage Being Reported | Simplifying The Market

The Joint Center of Housing Studies (JCHS) at Harvard University recently released their 2017 State of the Nation’s Housing Study, and a recent blog from JCHS revealed some of the more surprising aspects of the study.

The first two revelations centered around the shortage of housing inventory currently available in both existing homes and new construction.

Regarding Existing Home Inventory:

“For the fourth year in a row, the inventory of homes for sale across the US not only failed to recover, but dropped yet again. At the end of 2016 there were historically low 1.65 million homes for sale nationwide, which at the current sales rate was just 3.6 months of supply – almost half of the 6.0 months level that is considered a balanced market.”

Regarding New Home Inventory:

“Markets nationwide are still feeling the effects of the deep and extended decline in housing construction. Over the past 10 years, just 9 million new housing units were completed and added to the housing stock. This was the lowest 10-year period on records dating back to the 1970s, and far below the 14 and 15 million units averaged over the 1980s and 1990s.”

Bottom Line

The biggest challenge in today’s market is getting current homeowners and builders to realize the opportunity they have to maximize profit by selling and/or building NOW!!  Give me a call to get started – J.P. Cook – 602-320-4253.

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42920 N Highway 60 -- Morristown, AZ 85342

$845,000
3 Beds
2 Baths
1,967 SqFt
Status Active
MLS # 6745454
Property Type Single Family Residence
Price Type --
VIEWS, VIEWS, VIEWS! This newly constructed 3-bedroom, 2-bathroom home offers captivating mountain views and a charming front porch, ideal for having your morning quite time. As you enter through the double doors, you'll be greeted by a spacious, open floor plan and an elegant wood-looking flooring that perfectly flows throughout. The galley kitchen is a culinary delight, featuring plenty of counter space accompanied by a stylish tile backsplash, and stainless steel appliances. The primary suite has plenty of space with a pristine ensuite, dual sinks, a glass-enclosed shower, and a generous walk-in closet. Unwind on the covered patio, where you can relax and take in the stunning panoramic views and endless blue skies. This home is an absolute must-see and is sure to exceed your expectations!

1803 N Harper -- Mesa, AZ 85207

$845,000
3 Beds
2.5 Baths
2,372 SqFt
Status Active
MLS # 6750678
Property Type Single Family Residence
Price Type --
This gorgeous home is located in Canyon Preserve at Moutain Bridge. The premium lot, with no direct neighbor to the back and Tanto National Park mountain views, offers privacy and a peaceful setting. Top-of-the-line curb appeal with a paver driveway and walkways, as well as desert landscaping and artificial turf. A three-car tandem garage with industrial-grade epoxy flooring and garage cabinets provides plenty of space for vehicles and storage. It is climate-controlled with backyard access. Enter the arched wrought iron security gate entrance to the private front patio. The home has new Luxury Vinyl Plank flooring, plantation shutters and two tones of interior paint. The kitchen is an entertainer's dream, with stainless steel appliances, a gas range, white maple cabinets with Nantucket doors, granite countertops, and an island. The great room has an additional 300 square feet with a 20' wall of glass with a drop-down screen leading to the backyard, a private pool that is heated and cooled, and a cool deck patio. The primary bedroom is split with an ensuite bathroom with dual sinks, vanity, large walk-in shower and oversized closet. So many more upgrades are included on the additional upgrade list.

3067 E Canyon Creek Drive Gilbert, AZ 85295

$845,000
5 Beds
3.5 Baths
3,914 SqFt
Status Active
MLS # 6777025
Property Type Single Family Residence
Price Type --
Welcome to this stunning 5-bedroom, 3.5-bath home, featuring an inviting open floor plan and an incredible backyard oasis with a sparkling pool! Perfect for entertaining and family gatherings, the spacious living areas seamlessly connect to the outdoor space, creating an ideal flow for hosting. The gourmet kitchen boasts modern appliances, ample counter space, and a large island, perfect for casual dining. The luxurious master suite offers a serene retreat with an en-suite bath, complete with dual vanities, a soaking tub, and a separate shower. Four additional bedrooms provide ample space for family and guests, while the extra two rooms can be customized as a home office, gym, or playroom. Step outside to your private paradise, where you can enjoy sunny days lounging by the pool or hosting summer barbecues in the beautifully landscaped backyard. The outdoor living area is perfect for relaxation or entertaining, featuring a covered patio and plenty of space for outdoor dining and seating. This home also includes a solar system that is owned and paid off, ensuring energy efficiency and long-term savings. Additional features include a 3-car garage, plenty of storage space, and a location that provides both privacy and convenience, with easy access to local amenities, schools, and parks. Don't miss out on the opportunity to make this dream home yours!

2568 E Aloe Place Chandler, AZ 85286

$845,000
4 Beds
2.5 Baths
2,583 SqFt
Status Active
MLS # 6771536
Property Type Single Family Residence
Price Type --
Gorgeous Single-level 4 Bed/3 Bath + Office with Pool and Jacuzzi in a highly desirable part of Chandler! This well-built Maracay Home features an open concept with split floor plan and plenty of room for entertaining, 10ft ceilings & 8ft doors. Right when you pull up, you will notice the beautiful curb appeal with low maintenance yard & extended driveway. Walk in the front door to a view of the pool through the large slider door. The kitchen has a large island for serving and sitting, 42'cabinets, backsplash, gas cooktop, and dining nook. The Master Suite is spacious and has a beautiful bathroom with dual sinks & large walk-in-closet. The office is in a quiet secluded area of the house. The resort-style backyard showcases a pool, spa, fire pit & outdoor kitchen with North facing patio!

2419 E Tomahawk Drive Gilbert, AZ 85298

$845,000 - 6Br/4Ba -  for Sale in Adora Trails Parcel 5, Gilbert
Open House
$845,000
6 Beds
4 Baths
3,831 SqFt
Status Active
MLS # 6750097
Property Type Single Family Residence
Price Type --
Discover luxury living in this stunning 2-story home in Gilbert's sought-after Adora Trails community. This elegant residence features a spacious living area with a cozy fireplace, a gourmet kitchen with stainless steel appliances, quartz countertops, and custom cabinetry. The luxurious downstairs guest suite offers privacy and comfort. Enjoy your private backyard oasis with a sparkling pool and ample space for entertaining. Additional highlights include a three-car garage and meticulous landscaping. Located near parks, trails, shopping, and dining. Schedule your private showing today to explore all that this exceptional residence has to offer and discover the luxury lifestyle awaiting you in Adora Trails.

17829 E Cindercone Road Rio Verde, AZ 85263

$844,999
3 Beds
2 Baths
1,752 SqFt
Status Active
MLS # 6695609
Property Type Single Family Residence
Price Type --
Welcome Home to Trilogy at Verde River. This community is like a cruise ship that doesn't leave port. There are so many social activities associated with The Trilogy Lifestyle! This Acacia Model Floor Plan is Located on the North Side of Trilogy at Verde River Nestled Beside an NAOS Area Protecting the Views Directly Behind the Home. This Open Kitchen to Great Room Concept is Best Known for Bringing the Outdoor Living Inside with the Large Sliding Glass Doors. Covered Patio, Fire Pit, and Easy-to-Maintain Backyard Complete Make this a Perfect Lock & Leave Option. Trilogy at Verde River Boast a Large Clubhouse with both Bar & Dining Options. The Resort Style Pool & Spa are Accompanied by Eddie's Poolside Bar & Grill. Alvea Spa has All Your Health & Rejuvenation Needs. Come Experience TVR!

1952 W Bramble Berry Lane Phoenix, AZ 85085

$844,990 - 5Br/5Ba -  for Sale in Copperleaf Parcel 3a, Phoenix
Open House
$844,990
5 Beds
4.5 Baths
3,018 SqFt
Status Active
MLS # 6731409
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. Explore the Prato two-story floorplan, ready by Sept/Oct, featuring an owner's suite and an additional suite on the first floor. The chef's kitchen includes a gas cooktop, hood, and quartz countertops, with upgraded tile and carpet throughout. A center slider in the gathering room enhances indoor-outdoor living. An added bathroom upstairs creates another suite. The home also includes a full electrical package, a landscaped front yard, and stylish interiors.

36627 N 18th Drive Phoenix, AZ 85086

$844,900
3 Beds
2 Baths
2,246 SqFt
Status Active
MLS # 6759814
Property Type Single Family Residence
Price Type --
Experience the essence of Southwest charm on this 1-ac Desert Hills property! This beautifully rebuilt 3-bdrm home, completed in 2022, boasts all the right finishing touches, meticulously chosen to create the feel of a brand-new custom home but with yard improvements including a pool & turf. Step into an expansive open concept living space that flows into a gourmet kitchen, featuring custom cabinetry, stainless-steel appliances, and a large island with granite counter tops. The primary suite includes a spacious walk-in closet and a private exit to the backyard oasis. Outside, you'll find a tranquil retreat with a covered patio in site of mountain vistas! Enjoy the easy-care turf lawn, fully fenced pool and a yard with ample room for additional improvements! Private well. create a perfect backdrop for both relaxation and entertainment. After a refreshing swim, unwind in the nearby sauna, or enjoy quiet moments under the charming gazebo. The fully block-fenced backyard ensures privacy and serenity for all your outdoor gatherings. Perfectly located near an array of shopping, dining, and recreational amenities, this home offers the ideal blend of natural beauty and modern conveniencetruly the best of Southwest living.

9558 W Gambit Trail Peoria, AZ 85383

$844,750
5 Beds
3.5 Baths
4,566 SqFt
Status Active
MLS # 6727638
Property Type Single Family Residence
Price Type --
Don't miss your chance to make this serene neighborhood of Pleasant Valley home! This stunning five-bedroom, three-and-a-half-bath residence features a spacious four-car garage and an RV gate, offering ample space for everyone. The formal dining and living areas, complete with a cozy fireplace and wet bar, make entertaining a breeze. The roomy kitchen, adorned with granite counters and extra storage, transforms meal prep into a delightful experience. Unwind in your spa-like tub with a charming fireplace, creating a perfect retreat for relaxing evenings. The expansive loft area is versatile, ideal for a hobby space, home office, workout room, or family theater. The large covered patio is perfect for enjoying summer days and nights, while the generous backyard, complete with a pool, custom fireplace, and fire pit, is ideal for creating cherished memories. This prime location offers easy freeway access and is close to shopping, restaurants, Lake Pleasant and Paloma Community Park. Paloma Community Park is home to a catch and release lake, water park and various sport courts that will provide something for everyone. Seize this opportunity to live in Pleasant Valley! One AC unit replaced in April 2024.

26158 N 96th Drive Peoria, AZ 85383

$844,000
4 Beds
3 Baths
2,354 SqFt
Status Active
MLS # 6725121
Property Type Single Family Residence
Price Type --
One of only 72 homes in this stunning gated community. Enjoy your NEW, beautiful home in Querencia! This single-level home with 4 bedrooms and 2.5 bathrooms boasts an entertainment-ready backyard. Featuring a great room and split floor plan, an expanded garage, and a cul-de-sac corner lot location, this home truly has it all. Don't miss the opportunity to make this your dream residence! Walk to Great Hearts and BASIS Peoria super close.

5825 N 107th Lane Phoenix, AZ 85037

$844,000
3 Beds
2.5 Baths
2,524 SqFt
Status Active
MLS # 6781894
Property Type Single Family Residence
Price Type --
This gorgeous home strikes a perfect balance of charm and modern elegance! Starting with a 4-car/RV garage, RV gate, & stone accents. Spacious open-concept floor plan boasts wood-look tile flooring & bountiful natural light promoting a homely ambiance. Chef's kitchen gleams w/stainless steel appliances, recessed lighting, a walk-in pantry, white cabinets w/crown molding, sleek quartz counters, tile backsplash, & a prep island w/a breakfast bar. Large main retreat is a true sanctuary that promises rest & relaxation! Plush carpet & an ensuite offering dual sinks, quartz vanity, a glass-enclosed shower, & a walk-in closet complete the picture! Versatile den w/French doors is ideal for work/play. Escape the hustle & bustle in the HUGE backyard w/a relaxing covered patio & artificial turf.

7272 E Gainey Ranch Road Unit 110 Scottsdale, AZ 85258

$843,000
2 Beds
2 Baths
1,544 SqFt
Status Active
MLS # 6779795
Property Type Townhouse
Price Type --
Discover the perfect blend of comfort and style in this inviting 2-bedroom, 2-bathroom condo, located within the prestigious gated community of Gainey Ranch. This immaculate single-level residence boasts beautiful wood floors, plantation shutters and features Maytag appliances, ensuring both elegance and functionality. Enjoy the luxury of a direct entry 2-car garage. The versatile layout includes a dining area or office space, as well as an eat-in kitchen ideal for casual meals and gatherings. Step outside to your private covered patio, where a calming water feature adds tranquility to your outdoor experience. The Pavilions community has a sparkling pool and relaxing spa. The master Gainey Ranch community includes tennis & pickleball courts, extensive gym, 25 meter pool & clubhouse.

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