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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30218 N 162nd Way Scottsdale, AZ 85262

$789,000 - 3Br/3Ba -  for Sale in Se4 Sw4 Ne4 Sw4 Sec 22, Scottsdale
Open House
$789,000
3 Beds
2.5 Baths
2,480 SqFt
Status Active
MLS # 6782477
Property Type Single Family Residence
Price Type --
Fabulous horse property on 2.5 acres which has a confirmed EPCOR Membership for SECURED WATER SUPPLY in the future!!! The home features an open & split floor plan w/ lots of natural light. Step into the charming great room with rustic ceiling logs and cozy fireplace. The large kitchen with ample cabinetry & granite counters, opens up to the family room & breakfast room which makes a great entertainment space. Eastern backyard exposure so you can capitalize on the gorgeous mountain views! If you are an outdoor enthusiast, you'll love all the hiking, biking & horseback riding in the Tonto National Forest. Starry skies, cooler temperatures, and a serene, quiet, location are awaiting you.

15243 N 11th Street Phoenix, AZ 85022

$789,000 - 4Br/3Ba -  for Sale in Lookout Mountain Phase 1 Lots 16 Thru 55 57 60 65, Phoenix
Open House
$789,000
4 Beds
3 Baths
2,448 SqFt
Status Active
MLS # 6732717
Property Type Single Family Residence
Price Type --
Beautiful retreat near the preserve that offers miles of hiking trails to delight! Expansive backyard with two patios, large turf play area, outdoor kitchen, multiple seating areas all nestled under the trees with gorgeous mountain views. Outdoor lighting in the trees make for delightful evenings under the stars. Inside the home are four bedrooms, living room, family room, formal dining room, in addition to an eat in kitchen. This home has a great flow for entertaining with french doors to both patios. All kitchen appliances are GE Profile (2022),Vinyl welded double glazed windows (2023), Roof replaced (2021) New HVAC in 2018. Electrical sub-panel added in 2022.And the list goes on!

1048 W Ridge Road Apache Junction, AZ 85120

$788,990
3 Beds
2.5 Baths
2,376 SqFt
Status Active
MLS # 6726579
Property Type Single Family Residence
Price Type --
3 bedrooms, 2.5 baths, enclosed study, 12-foot ceilings in Family room leading to expansive covered patio space with 12-foot ceilings, 12-foot sgd in family room ( this is stunning). Stacked 54 'cabs in kitchen with stainless steel appliances including chimney hood, with tile splash to top of hood. Owners retreat with expansive windows overlooking the back yard, double vanity, super shower with upgraded tile work and rain can. Plank style wood looking tile throughout with carpet in bedrooms. All bathrooms have upgraded tile work in bathtub and super shower. All BR's have upgraded quartz tops except powder bath. 3-car garage. Backyard space - large for pool = over 35 feet. Full utility room cabs with sink.

7064 Moon Creek Circle Pinetop, AZ 85935

$788,800
4 Beds
3 Baths
2,502 SqFt
Status Active
MLS # 6760836
Property Type Single Family Residence
Price Type --
This delightful cedar-sided cabin, nestled among tall pines, offers ample space and comfort with its 4 bedrooms plus a bonus room, accommodating 12-14 people with ease. Constructed in 1999 and cherished by only one owner since, this custom-built home features a natural-gas powered fireplace, hot water heater, and furnace, ensuring year-round comfort. The interior boasts 9-foot ceilings and new stainless-steel appliances, complemented by freshly stained exteriors, enhancing its rustic charm. Enjoy the tranquility from the covered front and back porches. Conveniently located near the National Forest and included in the Pinetop Lakes Country Club recreation center, this cabin is a perfect blend of modern amenities and natural beauty. One of the sellers was a realtor in the state of AZ, though he is not currently active. Sellers' agent is related to the seller.

19939 N Golden Barrel Drive Surprise, AZ 85374

$788,000
2 Beds
2.5 Baths
2,483 SqFt
Status Active
MLS # 6762294
Property Type Single Family Residence
Price Type --
Stunning Ashbury Estate on Granite Falls North Golf Course This beautifully updated home on the 13th hole is move-in ready and designed for luxury. Featuring granite countertops, rich cherry cabinets, freshly cleaned and resealed tile floors, new carpet, and plantation shutters throughout, every detail shines. The windows have been reglazed, and the home has been freshly painted inside. Additional highlights: Owned Solar (Installed 2023) - Energy-efficient savings. 3-Car Garage (2 + Golf Cart) - Plenty of space for your vehicles and golf cart. A perfect blend of elegance and comfort, this home won't last long!

18019 E Vista Desierto -- Rio Verde, AZ 85263

$788,000
2 Beds
2 Baths
1,543 SqFt
Status Active
MLS # 6749704
Property Type Single Family Residence
Price Type --
Total SHOWSTOPPER! Introducing a stunning single-level home in the exclusive community of Trilogy at Verde River. From the moment you walk in you'll be wowed by the Great Room floor plan and Luxury finishes throughout, including Custom stacked stone walls at entry, Custom built 300 bottle temperature-controlled wine wall with stone, ½'' thick glass and custom cabinetry, including programmable LED lighting and Wi-Fi temperature/humidity monitoring system. The Gourmet Kitchen is a chef's dream featuring Quartz countertops, decorative backsplash, luxurious stainless-steel appliances, beautifully upgraded cabinets and undercabinet LED lighting. Other notable upgrades include wood look tile flooring, Custom Window Treatments, Reverse Osmosis and Soft Water system, Central Vacuum System, integrated Surround Sound Speaker system, two-tone paint package, custom Barn Doors in the Primary Suite and enclosing the Den, upgraded baseboards throughout and a lot more. Experience the ultimate in Luxury Resort Living! This home is STUNNING - Inside and Out! Trilogy at Verde River offers upscale Resort living at its finest and the very best of all possible worlds, close to the conveniences of affluent North Scottsdale, yet secreted within the pristine privacy of the Sonoran Desert. The amenities are World Class with Tom Lehman inspired eighteen-hole Golf course, tennis courts, pickle ball courts, and bocce ball, heated lap pool and Resort style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails. Whether you're seeking a second, winter home, or will live here year-round, Trilogy at Verde River is an ideal distance from the hustle and bustle of North Scottsdale. Attitudes here are different; there's a sense of community. You'll love the Resort living! What memories will you make?

2366 W Naranja Avenue Mesa, AZ 85202

$788,000
5 Beds
3.5 Baths
3,171 SqFt
Status Active
MLS # 6753631
Property Type Single Family Residence
Price Type --
Completely remodeled 5 bedroom 4 bathroom home in Mesa with a full Mother-In-Law Suite! The possibilities are endless! The separate Mother-In-Law Suite has its own full kitchen, living area, large bedroom, bathroom, walk in closet, separate entrance, and is accessible from the main house if desired. Sitting on a 1/4 acre corner lot within the highly rated Dobson Ranch Community, this home has many upgrades include new luxury cabinetry, quartz counter tops, fire clay farm sink, stainless steel appliances, new wood look plank flooring, new roof, new AC unit on En-Suite, updated landscaping, sparkling pebble tech pool, gazebo, basketball court, large covered patio, and much more. Located near 101 freeway, tons of restaurants, great schools, and shopping. Not far from Tempe and Phoenix! Please Visit the Dobson Ranch Community Website to see a full description of all the amenities and benefits the Dobson Ranch Community has to offer! There are recreation centers, swimming, pools, pickle ball courts, lakes, and much more!

1501 N Miller Road Unit 1010 Scottsdale, AZ 85257

$787,000 - 3Br/3Ba -  for Sale in Vistas Of Scottsdale, Scottsdale
Open House
$787,000
3 Beds
2.5 Baths
2,080 SqFt
Status Active
MLS # 6753447
Property Type Townhouse
Price Type --
COMPLETED NEW HOMES NOW FROM $799900. The Magic of Vistas of Scottsdale. A boutique Enclave of only 16 private, luxury homes in the Heart of Scottsdale - Location is Everything. Open spaces, clean lines & abundant glass create a design experience to merge the indoors and outdoors. Vistas of Scottsdale are curated with a discerning eye using warm, organic tones and natural textures focusing on the personal nature of the home as a retreat. Sweeping Mountain Vistas are captured from the 580sf roof terrace and unique floating overlook to rival a hotel/restaurant environment. The 30ft wide main living area provides unparalleled openness and light. The builder's vision from the inception was to focus on incorporating premium materials to create an innovative Scottsdale lifestyle.

4376 E Anderson Drive Phoenix, AZ 85032

$786,000
3 Beds
2.5 Baths
2,231 SqFt
Status Active
MLS # 6733830
Property Type Single Family Residence
Price Type --
APPRAISED JUNE 24 FOR $800,000.00 Nearly fully remodeled 3 bed/2 ½ bath + loft single family home. Desert Ridge community 5 minutes from Kierland, The Scottsdale Quarter. Soaring ceilings with formal living and dining furthering you into the open kitchen, informal dining and family room. Kitchen includes white shaker cabinets, granite countertops, SS appliances and walk-in pantry. Your new backyard oasis is truly resort style living with pebble tech pool, custom landscaping, covered patio with misters. Upstairs boasts a spacious loft, three bedrooms and newly remodeled master bathroom. Upgrades include: -Ceiling fans -Base boards -Chandeliers -Dual water softener osmosis system. -New white Italian tile throughout. -Plantation shutters -Exterior Gas line -Security Sys

22452 E Orchard Lane Queen Creek, AZ 85142

$785,990 - 4Br/4Ba -  for Sale in Harvest Queen Creek Parcel 2-5, Queen Creek
New
$785,990
4 Beds
3.5 Baths
3,464 SqFt
Status Active
MLS # 6784590
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 Majesty Series is nestled in a gated enclave within the popular Harvest community, offering a serene location just steps from swimming pools, a catch-and-release lake, and a lush green park. Enjoy the best of both worlds—peaceful surroundings yet close to shopping and entertainment. The home features a thoughtfully designed open layout, perfect for entertaining or relaxing, with a stunning waterfall island, a chef's kitchen, and spacious living areas. A private courtyard entry adds a warm and inviting touch, welcoming you home.

11301 N Northfield Street Surprise, AZ 85388

$785,900
2 Beds
2 Baths
2,503 SqFt
Status Active
MLS # 6741005
Property Type Single Family Residence
Price Type --
Welcome home to the prestigious Wayland floor plan in the Providence collection of Sterling Grove. View fence golf course lot! Exclusive design and location. Step inside to real wood flooring throughout. Stone island and beautiful wood cabinetry. Simple and elegant backsplash, gourmet kitchen with wall oven, oversized farmhouse sink, KitchenAid appliances. Pride of ownership is shown in every upgraded detail. Plantation shutters throughout. Eco-friendly milieu. Oversized living space with a den. Both the primary and the second bedroom have their own bathrooms. The primary shower is expansive glass with dual sinks, and a private toilet room. The primary closet is oversized and organized with drawers and more. The main living area features two oversized sliders that create a glass wall with light pouring into the home and showcasing the grassy golf course views. Step outside to the view! The yard is an oasis with turf and natural landscaping in order to savor the sweet life of all that Sterling Grove offers. A short walk to the club house with fitness center, spa, restaurant, tennis courts, pickleball courts, and more. Mountain views surround this premier community in Surprise. The sunsets are unmatched. Gated community with guards, close to the 303, the newly developed Prasada restaurants, shopping, theatre, and more. This is living at its finest. A true GEM in the heart of Surprise, AZ.

3510 N Miller Road Unit 1014 Scottsdale, AZ 85251

$785,000
2 Beds
3 Baths
1,762 SqFt
Status Active
MLS # 6771970
Property Type Townhouse
Price Type --
Location, Location, Location! Welcome to Treo, ideally situated near the vibrant Old Town Scottsdale! This desirable end unit boasts an open feel with stunning views overlooking the heated community pool—perfect for relaxing and cooling off in summer. Enjoy outdoor living at its finest with an oversized private patio and three additional balconies. Inside, you'll find a sleek contemporary interior featuring beautiful cabinetry, soft taupe porcelain plank tile flooring, and a modern white patterned kitchen backsplash. The kitchen is a showstopper with a massive waterfall edge quartz countertop and high-end stainless steel gas appliances, ideal for hosting and entertaining. The luxurious primary suite offers a private balcony with serene community views, an oversized walk-in shower with floor-to-ceiling tile and a drying area, dual sinks, and an expansive walk-in closet. The spacious second bedroom also includes an ensuite bath for added privacy. Additional features include 2 car garage, brand new air conditioner, a stackable washer and dryer, a 240-volt charging outlet in the garage, and ample storage space. Located near Spring Training, fine dining, entertainment, shopping, and morethis home offers the best of Scottsdale living. Don't miss out on this stunning 2-bed, 3-bath townhome at the Treo! PROPERTY AVAILABLE FULLY FURNISHED! Come view your turnkey Scottsdale modern oasis today.

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