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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13637 W Hackamore Drive Peoria, AZ 85383

$799,500
4 Beds
2.5 Baths
2,752 SqFt
Status Active
MLS # 6780840
Property Type Single Family Residence
Price Type --
Current promo: $20,000 towards closing costs or rate buy down, FREE Fridge, Washer, and Dryer! *** Step into elegance and modern comfort with the Harmony floor plan—a stunning 2,752 sq ft home designed for those who value both style and functionality. Located in an exclusive gated community, this luxury residence features 4 spacious bedrooms plus a den, 2.5 bathrooms, and a 3-car garage, providing ample space for the entire family. The kitchen showcases sleek, high-end finishes, a double oven, modern cabinetry, a large island, and designer lighting, making it the perfect centerpiece for gatherings. With ample walk-in closets, this home provides abundant storage and convenience. Discover the perfect blend of sophistication and comfort in a home that truly has it all.

2949 W Wescott Drive Phoenix, AZ 85027

$799,500 - 3Br/2Ba -  for Sale in Ridgewood Acres, Phoenix
New
$799,500
3 Beds
2 Baths
2,353 SqFt
Status Active
MLS # 6783799
Property Type Single Family Residence
Price Type --
Beautifully updated with a modern yet comfortable design. No HOA, a 17,760 sq ft lot, a pebble-finish pool w/ outdoor shower and meticulously maintained landscape. 2-Car garage w/AC plus an RV Gate and RV parking behind the gates. Luxury plank-tile flooring throughout most of the home. Overlooking the patio, pool and backyard is a bright open kitchen with a 12 ft island, full tiled backsplash, stainless appliances, 42'' upper cabinets with lower drawer stacks, wall-mounted vent hood and lots of storage. Flex Dining Room or Living Room. Tiled dry-bar adjacent to the Great Room with a wood-burning fireplace with TV connection. Bali shades, dual French doors to extended paver patio and pool and gazebo. Perfect condition, walkable, safe established neighborhood.

18002 N 75th Avenue Glendale, AZ 85308

$799,500 - 4Br/3Ba -  for Sale in Hidden Manor 2, Glendale
New
$799,500
4 Beds
3 Baths
3,040 SqFt
Status Active
MLS # 6784674
Property Type Single Family Residence
Price Type --
Experience Luxury living in this incredible 3-bedroom plus den 4th bdrm possibility, 3-bathroom custom home, which was recently remodeled with modern elegance. floorplan features functional design. A highlight of the renovation is the attached guest space, featuring a private entrance, a custom bathroom, and endless potential for multigenerational living or income generation. The kitchen boasts trendy cabinetry, while the bathrooms and floors reflect refined taste. The centerpiece fireplace and ceilings add a unique architectural charm. The master suite is a tranquil retreat, offering a spa-like ambiance with a luxurious Cinderella tub and a soothing electric fireplace. Step into the backyard to find your private oasis—a lush garden retreat designed for relaxation and entertainment. Ejoy the sparkling pool, rejuvenating spa, and charming gazebo, all perfectly crafted to make outdoor living a joy. This home offers not just solitude but a true lifestyle upgrade. A must-see to fully appreciate the upgrades, character, and serenity it provides.

1510 E Big Rock Road Tucson, AZ 85718

$799,500
3 Beds
2 Baths
2,495 SqFt
Status Active
MLS # 6729524
Property Type Single Family Residence
Price Type --
Price Reduced—Your peaceful escape at the base of the Santa Catalina Mountains is now offered at $799,500! Originally designed by an architect as his personal residence, this home features unique trapezoidal windows inspired by the Inca of Machu Picchu, showcasing jaw-dropping views of Pima Canyon and the Tucson cityscape. Set on a spacious 0.81-acre lot, it boasts unmatched privacy and tranquility. Just minutes from upscale shopping, scenic hiking trails, and world-class golf courses, this property seamlessly blends convenience and serenity. A recent $50,000+ solar system with 28 high-performance panels ensures energy-efficient living. Request your tour today to explore this distinctive home and its stunning surroundings at the foothills of the Santa Catalina Mountains. SCHOOLS Elementary: Harelson Elementary School Middle: Cross Middle School High: Canyon Del Oro High School SOLAR SYSTEM Solar System (recently installed at a cost of $52,900): 28 solar panels (Freedom Forever #MP-BBB-370) x 370 W each = 10.360 kW DC power (7.6 kW @ 240 V); Solaredge SE7600H-US inverter

7358 E Red Hawk Street Mesa, AZ 85207

$799,500
4 Beds
2.5 Baths
2,757 SqFt
Status Active
MLS # 6734801
Property Type Single Family Residence
Price Type --
Welcome to the beautiful gated community of Las Sendas! NEW ROOF (2022), NEWER A/C UNITS, NEWER WATER HEATER, NEW LVP FLOORING and fresh exterior paint (2024)! This highly desirable single story floor plan features 4 bedrooms, 2.5 baths and a 3 car garage with a POOL! Interior features neutral tones throughout, vaulted ceilings and plenty of natural light. This split floorplan includes a spacious primary bedroom complete with an en suite bathroom and walk-in closet. Secondary bedrooms are separated from the primary suite and have a separate full bathroom with a double vanity and shower/tub. The kitchen is fully equipped with a built-in microwave and oven, island with a cooktop, and walk-in pantry. From the eat-in kitchen, step outside to a large covered patio, a backyard with desert landscaping, a fenced in play pool, and a large grassy area. The garage is equipped with built-in cabinets for ample storage. Community amenities include two swimming pools/spas, parks, trails, pickleball/tennis courts and more. Neighborhood attractions include the Las Sendas Spa & Fitness Club, Trailhead Members Clubhouse, Las Sendas Golf Course & restaurant. Just minutes away from the Salt River and Saguaro Lake. Easy access to Loop 202 and quick commute to Sky Harbor Airport.

21479 E Pecan Lane Queen Creek, AZ 85142

$799,500
4 Beds
3 Baths
3,122 SqFt
Status Active
MLS # 6742654
Property Type Single Family Residence
Price Type --
RARE GEM WITH AN OVERSIZE LOT !!! Step into a world where your HOME truly feels like a RETREAT. Imagine whipping up culinary masterpieces in an AMAZING KITCHEN that will leave you in awe. With SOFT-CLOSE cabinets that glide effortlessly, a GAS COOKTOP for precision cooking, and DOUBLE OVENS for all your baking needs, this space is a chef's dream. The KITCHEN BACKSPLASH and GRANITE COUNTERTOPS add a touch of elegance and durability, while the stylish KITCHEN HOOD complements the modern aesthetic. Beyond the kitchen, discover UPGRADED FLOORS that lead you to one of the LARGEST LOTS in the area. Your backyard is an ENTERTAINER's PARADISE, featuring a stunning and well maintained 16,000-GALLON LAP POOL that is serviced monthly. OWNED SOLAR HEATER PANEL to extend your swimming season. Enjoy the lush, SYNTHETIC GRASS that requires minimal upkeep and relish the PRIVACY of having NO NEIGHBORS behind you. Inside, the HUGE MASTER BEDROOM offers a sanctuary of space, complete with a VAST WALK-IN CLOSET and DUAL VANITY. STORAGE is never an issue with a MASSIVE 3-CAR GARAGE, fully equipped with plenty of RACKS for all your belongings. An RV GATE ensures you have room for all your adventures. This property is not just a home; it's a LIFESTYLE. Every detail has been carefully crafted to offer comfort, convenience, and a touch of LUXURY. Come and explore your FUTURE OASIS today! You Must See It For Yourself ! Ask Listing Agent For The Video

8642 E Monterosa Avenue Scottsdale, AZ 85251

$799,500
3 Beds
2 Baths
2,007 SqFt
Status Active
MLS # 6758788
Property Type Townhouse
Price Type --
Welcome to your dream home in the sought after Sands East Community! This stunning single-story home is just minutes from the vibrant atmosphere of Old Town Scottsdale. Designed by the renowned architect ET Wright, each home in this community boasts a unique charm, and this one is no exception.Step inside to discover an inviting open floor plan bathed in natural light, creating a warm and welcoming ambiance. The seamless flow between the living areas makes it perfect for entertaining or simply enjoying a quiet evening at home. The beautifully designed backyard is an inviting retreat as well. With its incredible location, you'll have easy access to the best dining, shopping, and cultural experiences that Scottsdale offers. Don't miss the chance to make this exceptional home your own!

1526 E Lexington Avenue Gilbert, AZ 85234

$799,500
4 Beds
3 Baths
2,610 SqFt
Status Active
MLS # 6755392
Property Type Single Family Residence
Price Type --
This unique, highly-upgraded one-level home in the Brighton Estates community offers a split floor plan with 4 bedrooms and 3 full baths. Built in 2017 by CalAtlantic/Lennar, the home features 10-foot ceilings, plank tile ceramic floors, and a modern open layout. The private courtyard entry leads to a front bedroom with its own en-suite, ideal as a second primary, home office, or guest suite. An additional flex space in the center of the home can serve as a playroom, office, or sitting area. The expansive primary suite is a true retreat, with a large bedroom, walk-in closet, and spa-worthy bathroom with upgraded marble extended shower and freestanding tub. The open living and kitchen area is the heart of the home, with access to the resort-style backyard through large patio sliders complete with built-in travertine firepit and Weber BBQ island/bar. The gourmet kitchen boasts a giant granite island, upgraded cabinets, double ovens, and gas cooktop. Enjoy low-maintenance living with features like 3 cooling zones, Nest thermostats, and window treatments to keep you comfortable. Conveniently located just 5 minutes from downtown Gilbert and 10 minutes from Freestone Park and the San Tan shopping/entertainment area.

4368 Stage Stop Way Wickenburg, AZ 85390

$799,500 - 2Br/3Ba -  for Sale in Wickenburg Ranch, Wickenburg
Open House
$799,500
2 Beds
2.5 Baths
2,226 SqFt
Status Active
MLS # 6766373
Property Type Single Family Residence
Price Type --
Beautiful Sycamore floor plan with panoramic views from great room and extended covered patio. Large corner lot, low maintenance professional desert landscape with watering system throughout. Popular split floor plan, huge open family room, reading room, large master bedroom with full bath with comfort height toilet and walk in closet, gourmet kitchen, upgraded appliances, undercabinet lighting with soft close doors and drawers, water softener, RO system and central vac. Ceiling speakers thru much of the house, huge laundry room, extended garage with epoxy floor and side entry door.

705 E Arrowhead Court Payson, AZ 85541

$799,400
4 Beds
3 Baths
2,505 SqFt
Status Active
MLS # 6720290
Property Type Single Family Residence
Price Type --
Million dollar views of the Mogollon Rim. State of the art water treatment system. Heated floors. New tankless water heater. Remote control overhead storage in garage. Premium upgrades in kitchen and bathrooms: custom cabinets, marble/tile shower, walk-in jetted tub. Kitchenette, pellet stove on lower floor. Separate office in 3rd car garage with its own mini-split air conditioner. Large half acre with low maintenance landscaping. 3 car garage. 4 bedrooms and 3 bathrooms. 2500 square feet. This is an absolute ''must see''.

880 W Golden Ore Pass Apache Junction, AZ 85120

$799,166
4 Beds
3 Baths
3,150 SqFt
Status Active
MLS # 6771685
Property Type Single Family Residence
Price Type --
Beautifully constructed single-story home at Blossom Rock. Loaded with designer features and luxury highlights, this home includes a spacious floor plan, 4 bedrooms, 3 bathrooms, an office, game room, and an attached 3-car tandem garage. The Executive kitchen includes a 36'' gas cooktop and Della Quartz kitchen countertops. Other designer features include upgraded Sarsaparilla cabinets, upgraded satin Nickle fixtures and faucets, a frameless walk-in shower and custom tile surrounds at the primary bath, plank tile flooring with upgraded carpet, and a 16' multi-slide glass door at the Great Room. The home includes an extended back patio and extended dining area, a gas stub for a future BBQ, pavers at the porch and courtyard, and so much more!

27637 N Ironrock Trail Queen Creek, AZ 85144

$799,000
4 Beds
3 Baths
3,205 SqFt
Status Active
MLS # 6730600
Property Type Single Family Residence
Price Type --
BRAND NEW Construction w/ Custom-Quality Upgrades! This beautiful Modern Farmhouse is located on 1.25 ACRE of Horse Property. Gourmet Kitchen w/ WOLF Appliances, high-end Cabinets w/ 42'' uppers, White Quartz Countertops, 36'' Electric Cooktop, drawer Stainless-Steel Microwave, Steam Oven & Convection Oven, and Wood Plank Tile Floors. Stunning Master Bathroom w/ Freestanding Soaking Tub, Modern Glass Shower & Double Vanities. Exceptional Energy Efficient - boasting Spray Foam Insulation, Premium Trane AC units & High-end Windows. Superior Construction & Craftmanship includes Premium Roofing System, Premium Synthetic Stucco & much more! Estimated completion date NOV/DEC.

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