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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6623 E 1st Street Scottsdale, AZ 85251

$840,000
3 Beds
2 Baths
1,489 SqFt
Status Active
MLS # 6775136
Property Type Single Family Residence
Price Type --
Incredible Opportunity to purchase in the highly sought out neighborhood of Southwest Village located within South Arcadia and adjacent to Old Town Scottsdale. This property has been extensively updated by the owner/agent from almost top to bottom. Updating includes: recently fully permitted laundry/flex room addition, roof replaced in the past several years, HVAC 2023, tankless H2O heater 2023, all windows & doors replaced, 14'' new attic insulation, new wood vinyl flooring in 2 bedrooms, kitchen updated with cabinetry, new quartz counters, stainless steel KitchenAid appliances, bathrooms completely replaced including drains, recent rebar re-enforced double driveway and carport and electrical panel replaced in 2024. Beautiful, lush landscaping with mature trees set this property apart.

491 E Vermont Drive Gilbert, AZ 85295

$840,000 - 3Br/4Ba -  for Sale in Jakes Ranch Amd, Gilbert
Open House
$840,000
3 Beds
3.5 Baths
3,696 SqFt
Status Active
MLS # 6769096
Property Type Single Family Residence
Price Type --
Huge Price Adjustment for a swimming pool & extras! 2 Master bedrooms upstairs (split floor plan); 1400 sqft Basement (1 bedroom and 1 gym/studio room) and a large entertainment room in basement; a 3-car garage and a manicured landscape in a highly sought after Jakes Ranch gated community built by TW Lewis. Large living & dining room with entertainment niches will greet you upon entering. Abundant natural light filled the spaces, complemented by a blend of tile & hardwood flooring, fresh neutral paint, and dual pane windows. Chef's kitchen offers recessed lighting, built-in appliances, ample cabinets & cupboards adorned with crown molding, granite counters, tile backsplash, desk area, and a prep island with a breakfast bar. Let's not forget about the breakfast nook with a lovely bay wi

16686 S 18th Way Phoenix, AZ 85048

$840,000 - 4Br/3Ba -  for Sale in Foothills Parcel 5a Lot 1-72 Tr A-f, Phoenix
Open House
New
$840,000
4 Beds
2.5 Baths
2,516 SqFt
Status Active
MLS # 6784161
Property Type Single Family Residence
Price Type --
Rare single level 4-bedroom, 2.5-bath home on the prestigious Troon-managed Foothills Golf Course offers breathtaking views of South Mountain and our Arizona sunsets, with a resort-style pool and expansive cool decking. The open-concept layout features a spacious great room, separate living and dining areas, ideal for entertaining. The updated kitchen is a chef's delight featuring double ovens, granite counters and underlit cabinetry. Enjoy the split floor plan and elegant plantation shutters and fresh Rhino Shield exterior paint w/25 year guarantee. With a whole house water purifier, new modern style flat tile roof, 3-car garage w/hanging storage racks & epoxy coated floors, AND located in the gorgeous Ahwatukee Foothills, this home combines comfort and luxury in one stunning package!

11983 W Creosote Drive Peoria, AZ 85383

$840,000 - 2Br/2Ba -  for Sale in Blackstone At Vistancia Parcel B11, Peoria
Open House
$840,000
2 Beds
2 Baths
1,982 SqFt
Status Active
MLS # 6712439
Property Type Single Family Residence
Price Type --
Luxurious, low maintenance lifestyle with access to North Peoria's premier golf and country club! Welcome to this 2 bedroom, 2 bath plus den home with scenic views of the golf course and surrounding desert. Highly upgraded with beautiful gourmet kitchen, amazing cabinetry, gorgeous under cabinet lighting, stainless appliances, upgraded granite countertops, tile backsplash, walk in pantry and large seating island. Amazing wall of cabinets and shelving in the dining area. 5 Wall mounted TVs convey. Upgraded interior window shades and shutters, Rear patio electric roller shade, Upgraded ceiling fans interior and exterior, front screen door and office Murphy bed/desk combo are just some of the amazing improvements. Exterior paint 6/2024. You are going to love this home!!

3028 E Coolidge Street Phoenix, AZ 85016

$840,000 - 3Br/2Ba -  for Sale in Sharondale Plat 2, Phoenix
Open House
$840,000
3 Beds
2 Baths
1,392 SqFt
Status Active
MLS # 6767375
Property Type Single Family Residence
Price Type --
Price Improvement & Special Offer! Nestled on a private corner lot in a charming neighborhood, this hidden gem offers the perfect blend of convenience, comfort, and luxury. Recently updated throughout, this home offers a spacious kitchen and living area designed for entertaining, with sleek countertops and high-end appliances. The floorplan provides ample privacy, featuring a large primary suite with a luxurious bathroom. Enjoy the beautifully landscaped front and back yards, ideal for outdoor gatherings or quiet relaxation. Unwind in complete privacy in the luxury spa in the backyard. The home is located squarely between Arcadia and Biltmore; providing access to some of the best shopping, restaurants, and entertainment in the state. Elevate your lifestyle in this gorgeous property today!

7601 E Indian Bend Road Unit 3027 Scottsdale, AZ 85250

$840,000 - 2Br/2Ba -  for Sale in Corriente Condominiums, Scottsdale
Open House
$840,000
2 Beds
2 Baths
1,625 SqFt
Status Active
MLS # 6750538
Property Type Apartment
Price Type --
Voted #1 at The September Heart of Scottsdale Home Tour! Updated,corner, two bedroom, two bath, large condo is just what you have been looking for. Located in the desireable gated community of Corriente, this condominium boasts views of Camelback mountain and AZ sunsets. Corriente backs to the Silverado Golf Course and Clubhouse. Enjoy being on the Scottsdale bike path and walking trails, and being part of the heart of Scottsdale activities. Close to restaurants, shopping, golf, gambling, hotels, baseball, and the 101 freeway. Enjoy the Resort style pool, spa, exercise room. and party room. Three story buildings have elevators to underground parking. Great Room, Study, two sided fireplace, beautiful primary Bedroom suite, open kitchen, granite, stainless gas appliances. Luxurious

24152 N 170th Avenue Surprise, AZ 85387

$839,999
4 Beds
3 Baths
2,406 SqFt
Status Active
MLS # 6753310
Property Type Single Family Residence
Price Type --
Welcome to your ideal retreat where luxury and practicality converge in this stunning 4-bed, 2.5-bath home. Imagine a lifestyle where every day feels like a vacation and every need is effortlessly met. Control your personal resort style paradise with a Pebble Sheen pool and spa that shimmers under 4 LED color-changing lights, warmed by nat gas heater easily controlled with Pentair automation for a tailored experience. Relax under the elegant pergola, enjoy cozy evenings by the firepit, and entertain across the travertine decking finished with artificial turf. The 48-foot deep RV garage is a game-changer, featuring a 14' front door and a 10' rear door, providing ample space for your RV, boats, or toys. Coupled with an oversized 2-car garage and equipped with epoxy-coated floors, a 50 AMP service, 2 30 AMP RV plugs, and 2 additional 20 AMP breakers, this home is perfect for enthusiasts and hobbyists. Don't miss out on this opportunity to own a home where luxury meets functionality. Experience unparalleled comfort and convenience, your new home awaits!

9590 E Blazing Star Circle Prescott Valley, AZ 86315

$839,990
4 Beds
2 Baths
2,315 SqFt
Status Active
MLS # 6732658
Property Type Single Family Residence
Price Type --
Looking for room to breathe? Then look no further than this 2.01-acre, 4 bedrooms, 2 bath, 2315 sq. ft. home, Move-in ready with open concept living, gorgeous views, spacious kitchen, with knotty pine cabinetry, that is throughout the home, granite countertops, walk-in pantry, stainless steel appliances, two refrigerators, one in main house, the other in the garage, 9 ft ceilings, stoned wood fireplace, with accent natural wood walls on each side. A reverse osmosis system in kitchen, NUVO whole house filtration with saltless water softener and a separate arsenic filtration system, plus a 2400 underground water storage tank with low level warning system. How about enjoying your morning drink in the large screened-in porch watching the breathtaking sunrises over Mingus Mtn. The perimeter is fully cross fenced/no climb with interior cross fencing/no climb and a double gate easy access for your yard toys, with a large additional cross fencing/no climb area for your pets. Mature trees, plus 4 producing fruit trees, enclosed garden, paver patio with a spacious Pergola, plus a paver outdoor firepit. 50' RV pad with 50-amp hookup. 3 car garage with built-in cabinetry, plus the full length of the garage up-top shelving for extra storage. 3 sheds, a 10x20 - spectacular She shed, a 10x14 - Tuff Shed & a 8x10 - garden shed. Whew... This home features simply too many upgrades to list, see under documents for more details.

1945 W Horsetail Trail Phoenix, AZ 85085

$839,990 - 4Br/4Ba -  for Sale in Copperleaf Parcel 3a, Phoenix
Open House
$839,990
4 Beds
3.5 Baths
2,938 SqFt
Status Active
MLS # 6752495
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, &/or price adjustments. North-facing, two-story Prato floorplan with 2.5 car garage. First-floor owner's suite with glass low-threshold walk-in shower, chef kitchen with Whirlpool gas cooktop, white cabinets, and quartz countertops. Features upgraded tile, carpet, center slider for indoor-outdoor living, laundry cabinets with sink, upstairs suite with added bathroom, surround sound, Smart Home package, and front yard desert landscaping with a main line to the backyard.

9580 E Hansen Way Gold Canyon, AZ 85118

$839,970
4 Beds
3 Baths
3,025 SqFt
Status Active
MLS # 6646047
Property Type Single Family Residence
Price Type --
JUST COMPLETED New Construction contemporary desert home on 1.25 ACRES with direct backyard views of the Superstition Mountains! This new build with NO HOA includes a gorgeous custom iron front door, a MASSIVE open Kitchen & living room with high-end Cabinets, White Quartz Countertops, 36'' Cooktop, Built-in Stainless Steel Microwave and double ovens, & upgraded flooring. The upgrades continue with a stunning Master Bathroom with a Freestanding Soaking Tub, Modern Shower and Beautiful Double Vanities, an oversized four car garage, exceptional energy efficiency with spray foam insulated walls & ceilings, upgrading A/C system, Premium Stucco, & last but not least an upgraded full 12' patio to watch the sunset on the Superstition Mountains from.

4401 S Atlas -- Mesa, AZ 85212

$839,900
4 Beds
3.5 Baths
2,939 SqFt
Status Active
MLS # 6759832
Property Type Single Family Residence
Price Type --
Don't buy new! This 2022 upgraded PARK FACING home is as good as it gets. Fully upgraded Woodside 5029 plan features every finish a buyer would want! 160K in upgrades! Nearly 1/3 of acre MASSIVE CORNER LOT. Main living space features 15' multislide doors, EXECUTIVE kitchen package with full overlay maple cabinetry, HUGE QUARTZ ISLAND, top of the line appliance package including CHEF sized gas cooktop and hood, wall ovens and large butlers pantry. Upgraded plumbing and electrical fixtures throughout. Large playroom / office off the main living space. 3 bedrooms included jack+jill bath separate from the main living area and primary suite. Don't forget the SHUTTERS throughout, 3 car tandem garage and backyard rocked and ready for your future pool / landscape plans! See QUOTE+PLANS attached!

6052 N 80th Way Scottsdale, AZ 85250

$839,900
4 Beds
3 Baths
2,061 SqFt
Status Active Under Contract
MLS # 6746136
Property Type Single Family Residence
Price Type --
Wonderful home tucked into the La Casa Rica enclave in Park Scottsdale! A two-story beauty on a large cul-de-sac lot. Two levels of living in this light & bright home. Front room has soaring ceilings, & extends to the formal dining space. The kitchen has a breakfast nook overlooking the back yard. Living space with a fireplace opens into the kitchen & out onto the covered pool-side patio. A full bedroom & bathroom downstairs. Upstairs, a large primary suite has a walk-in closet, & a bathroom with a soaking tub, dual vanities, & separate shower & toilet. Step out onto the private balcony & enjoy mountain views. Two additional guest bedrooms & guest bath are upstairs. A large side-yard has mature citrus trees, & storage. Step out of the living room onto the covered patio & pool. Fabulous cul-de-sac lot in a very desirable community. Just steps from Saguaro High School. Home of the Sabercats, the acclaimed Science & Math Academy, and Nationally recognized Football & Baseball team. Just down the road is the A+ Rated Pueblo Elementary, Scottsdale Dual-Language Immersion school. Miles of park trails begin at this communities edge, and lead throughout South Scottsdale and Old Town. Just minutes to Old Town Scottsdale, Fashion Square, The Shops at 5th Ave, and more. Close to the 101 Freeway, Talking Stick Resort, Spring Training Baseball Fields, Top Golf, Scottsdale Community College, ASU, Kierland, and so much more!

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