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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18420 N 46th Way Phoenix, AZ 85032

$739,950
3 Beds
2.5 Baths
2,618 SqFt
Status Active
MLS # 6780963
Property Type Single Family Residence
Price Type --
WOW, 3 car garage, 2,618sqft, POOL, and incredible location. This beautifully updated family home is designed for both style and functionality. As you step inside, you're greeted by an open floor plan flooded with natural light and enhanced by high-end modern finishes throughout. The kitchen, truly the heart of the home, boasts brand new stainless steel appliances, quartz countertops, and a cozy built-in breakfast nook—perfect for family gatherings. The spacious primary suite upstairs offers a private retreat, oversized shower and an expansive walk-in closet. A versatile loft area nearby provides flexibility, making it ideal as a kids' playroom or an additional living space. Step outside to enjoy a backyard oasis, complete with a large covered patio for shaded relaxation, a stunning Pebb Pebble Tec pool with a generous baja step for lounging, and plenty of space for entertaining. The location is equally impressive, just steps from the community park and a short drive from Desert Ridge and Scottsdale Quarter. MUST SEE!!

5703 S Dante -- Mesa, AZ 85212

$739,940 - 5Br/4Ba -  for Sale in La Mira Expeiditon, Mesa
Open House
$739,940
5 Beds
4 Baths
3,314 SqFt
Status Active
MLS # 6706166
Property Type Single Family Residence
Price Type --
MLS#6706166 August Completion! The Revere at La Mira Expedition Collection welcomes you with a stunning courtyard, leading to an inspiring spiral staircase and a grand foyer. The spacious and elegant formal dining room, an entertainer's dream, connects seamlessly to the butler's pantry and the expansive kitchen. The gourmet kitchen, featuring an island and an adjoining breakfast room, overlooks the inviting gathering room. Additionally, there is a guest bedroom with a full bath on the main floor. Upstairs, you'll find a game room, three secondary bedrooms, two full baths, a laundry room, and the private owner's suite. The owner's bath boasts dual vanities Structural options include a gourmet kitchen, extended patio, loft, and an added 5th bedroom, paver front porch and garage service door.

16332 E Skinner Drive Scottsdale, AZ 85262

$739,900
4 Beds
4 Baths
2,616 SqFt
Status Active
MLS # 6769907
Property Type Single Family Residence
Price Type --
EPCOR Water Approval is Confirmed for this property! Certificate of Occupancy obtained. No waiting! Nestled amid stunning mountain views, this home offers luxurious desert living with a perfect fusion of modern elegance & natural beauty. Enjoy panoramic vistas, with generously sized windows & soaring 9-10' ceilings paired with elegant 8-foot doors. Open and airy design, drenched in natural light, creates an inviting atmosphere throughout. Step outside to the covered back patio, ideal for entertaining or simply unwinding while soaking in the breathtaking desert landscape. Private En Suites for primary and 2 guest suites for optimal privacy and comfort. 4th guest room has ensuite with main living access. Spacious 3+ Car Garage & Workspace: Plenty of room for vehicles, hobbies, etc. HURRY! 5000-Gallon Water Storage Tank provides added convenience for desert living.

7400 W Quail Track Drive Peoria, AZ 85383

$739,900
5 Beds
3 Baths
2,837 SqFt
Status Active
MLS # 6748512
Property Type Single Family Residence
Price Type --
Ready now-North/South Exposure. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'Stork' floorplan features 5 full bedrooms plus a game room and a multipurpose room, 3 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes White Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 9' ceilings, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Home is under construction, photos of similar spec home to show layout, options may vary**

3799 W Starlight Drive Happy Jack, AZ 86024

$739,900
4 Beds
3 Baths
2,436 SqFt
Status Active
MLS # 6757402
Property Type Single Family Residence
Price Type --
Welcome to your dream retreat in Happy Jack, Arizona, where this stunning property offers the perfect blend of luxury and natural beauty. Situated on 1.77 acres of lush land that borders the greenbelt, this fully remodeled home boasts 4 bedrooms, 3 bathrooms, and an oversized 3-car garage, ensuring ample space for both relaxation and recreation. Step inside to discover an inviting open floor plan flooded with natural light from large sunny windows, creating a warm and welcoming ambiance throughout. The focal point of the great room is a custom stone fireplace, perfect for cozying up on chilly evenings. Custom wood ceilings, along with interior T & G ceilings, add rustic charm and warmth throughout the home. The spacious master suite features a luxurious master bathroom with a double custom vanity and large walk-in closet. Luxury vinyl waterproof flooring flows seamlessly throughout the home, providing both durability and style. The heart of the home is the kitchen, featuring a custom stone island with a built-in wine rack. A farmhouse sink adds charm and functionality to the space, while new stainless steel appliances complete the modern amenities. With tons of storage and a flowing floor plan, entertaining family and friends is a breeze. Outside, a large covered deck overlooks the lower open patio area, providing the perfect space for outdoor gatherings. Well-constructed fencing encloses the backyard for privacy and security, while tall pines dot the property, creating a picturesque backdrop for enjoying the serene mountain surroundings. Best of all, horses are allowed, allowing you to fully embrace the equestrian lifestyle amidst the beauty of Happy Jack. Don't miss your chance to own this exquisite property-- and start living the mountain retreat lifestyle you've always dreamed of.

7546 W Villa Rita Drive Glendale, AZ 85308

$739,900
4 Beds
2.5 Baths
2,779 SqFt
Status Active
MLS # 6781410
Property Type Single Family Residence
Price Type --
Escape the ordinary and get inspired by this architecturally-unique, Spanish-influenced home in the picturesque Hidden Manor neighborhood. Unusually rich in character, this custom-built home is situated on a 18,000 square foot lot with remarkable outdoor spaces that have taken decades to cultivate. The curb appeal is a 10/10 with lush lawns, a meandering front walkway surrounded by a canopy of yellow bells and an entry loggia/courtyard with latticed roof, mature ficus trees and stately columns. This special home captures the essence of AZ living with gorgeous surroundings, classic interiors and charming outdoor spaces. The interior and exterior were freshly painted in 2024. The vaulted and beamed ceilings in the living areas feel both grand and welcoming, with complementary wood + laminate flooring underfoot. Rich, textured walls create a very European feeling, with the prominence of the interior columns. The living room's extraordinary design will instantly lift your mood, with all the magnificent natural light filtering in. Just off the living room is the cozy family room, which features a wood-clad ceiling and 2 sets of French doors that open to the rear patio for entertaining. A full wall fireplace brings warmth and comfort, with bench seating, firewood alcove and a wood mantel. Don't miss the decorative loft space overhead which can be made into a fun, hidden room or re-purposed for storage needs. Prep and enjoy meals in the classically-styled, eat in-kitchen. Overlooking the park-like rear yard, the kitchen also opens to the living space, making it perfect for gatherings. Crisp white recessed panel cabinetry is paired with black granite counters. There is a breakfast bar and a built-in desk niche, along with a breakfast area that is perfect for everyday dining. The spacious walk-in pantry/butler's pantry is an unexpected delight with walls of built-in cabinetry + shelving, ample counter space, second full size refrigerator, picture window and pull-down stairs access to the attic space for additional storage opportunities. Retreat to the primary suite for rest and relaxation. It offers dual closets, newer carpet and a spacious, private bath with dual sinks and tiled tub/shower. The generous secondary bedrooms have walk-in closets and newer carpet. The 4th bedroom is split and would make a wonderful guest suite or home office. Prepare to fall in love with the dream backyard that has been 20+ years in the making! With the home's inimitable indoor/outdoor connection, you'll see why every detail in the backyard is curated to enhance year-round livability. There will surely be some epic backyard parties in your future! You'll be entertaining in style from the poolside kitchen ramada with concrete bar top, built-in BBQ, fridge and swivel-mount for TV, all surrounded by a canopy of mature trees and lush, sprawling lawns. Whether you are taking a dip in the sparkling pool to cool off in the summer or gathering around the paver-lined, sunken firepit in the cooler months, you'll be in your own private paradise. You'll find yourself marveling at your park-like surroundings, which include a concrete sports court, spacious fenced garden area and in-ground pond. An assortment of trees include ash and ficus trees, along with tasty tangerine and lemon trees + hearty grape vines. Shade sails and misters help keep you cool and the sprawling lawns invite play. There are RV gates on both sides of the home, so you can bring your toys. The Northwest valley location can't be beat. Nearby many local staples/destinations along with the best culinary, retail, and entertainment epicenters (less than a mile to Trader Joe's and Arrowhead town center). Hidden Manor is a special enclave of homes on large lots with an active neighborhood watch. The HOA is a modest $7/mo fee. The community was originally marketed to tennis lovers, with shared, private tennis courts as an option. There are still several private tennis courts still in use today-check out the aerial views of the neighborhood-it is just so cool!

18148 S Via Loma Del Venado -- Vail, AZ 85641

$739,900
4 Beds
2.5 Baths
2,363 SqFt
Status Active
MLS # 6760338
Property Type Single Family Residence
Price Type --
Dreaming of a horse property? This stunning 5-acre estate offers 360-degree views of the city, mountains, and a scenic canyon that backs up to the property. Perfect for families and horse lovers alike, this split-level home features a spacious primary bedroom, luxurious en suite bath with a shower and clawfoot tub, and office/den on the upper level, with three bedrooms on the lower level. The great room boasts a beautiful stone and wood fireplace, while the updated kitchen shines with granite countertops, a one-of-a-kind artistic desert scene backsplash, new appliances, a tall breakfast bar, and a gas stove cooktop. With the gorgeous Sonoran desert views that draw you outside, you'll love the back patio for entertaining with a built-in BBQ, and open spaces that look upon the horse arena with a tack room, and a hay barn, plus the handy RV/trailer storage to fully equip you for the equestrian lifestyle. The oversized 4-car garage is a mechanic's dream, it's complete with steel beams, a workspace, and a handy half bath. This property is a rare find and won't last long.

545 S Lemon Court Gilbert, AZ 85296

$739,900
5 Beds
2 Baths
2,159 SqFt
Status Active Under Contract
MLS # 6769537
Property Type Single Family Residence
Price Type --
Welcome in to this STUNNING REMODEL with 5 BED, 2 BATH, & 2159 sq ft. This WELL-DESIGNED home features UPDATED CABINETRY and FLOORING throughout, GRANITE countertops, HUGE KITCHEN ISLAND, STYLISH FIXTURES, plantation SHUTTERS, & fresh INTERIOR PAINT. Situated on a 9187 sq ft CUL-DE-SAC lot with a HEATED POOL/SPA, OUTDOOR KITCHEN, newly installed TURF, new 10 ft RV GATE & 40 ft pad in the lovely FINLEY FARMS Neighborhood in North Gilbert.2022 HVAC, 2018 water heater, This beautiful planned community features neighborhood PARKS, basketball courts, sand volleyball, BBQ's & the neighborhood elementary part of the HIGHLY RATED Gilbert School District. You're just minutes away from shopping & dining. Amenities & Upgrades list in additional docs

11883 N 111th Way Scottsdale, AZ 85259

$739,900
3 Beds
2 Baths
1,715 SqFt
Status Active
MLS # 6753088
Property Type Single Family Residence
Price Type --
Location, Location, Location...Nestled amidst the picturesque McDowell Mountains, this stunning 3-bedroom, 2-bathroom residence located in the highly desired community of Sierra Ridge is a perfect of blend of style, comfort & functionality with gorgeous mountain views. Situated on a large corner cul-de-sac lot. As you step inside, this immaculately cared for home is immediately apparent with new baseboards and custom-made valances. The kitchen is equipped with stainless steel appliances and an upgraded pantry door, making it both beautiful and functional. The large master suite is a retreat in itself, offering a sitting area or perfect for a home office and a spacious walk-in closet with custom built-ins. Step outside to your own personal oasis. The backyard is an oasis boasting a Pebble Tec chlorine pool with a serene water feature with Hayward digital equipment and a Catch a Kid pool net for added safety. The extended patio is perfect for gatherings with a built-in propane grill, fire pit, outdoor fans and accent lighting that enhances the ambiance. The RV gate, lush turf and irrigated planters add convenience and charm to this outdoor space, while sunscreens on the outdoor windows help keep the home cool and energy-efficient. This home has been meticulously cared for, with a newer Trane AC unit still under warranty. The 2-car epoxy-coated garage includes cabinets, a workshop area and surround sound, making it the ultimate space for projects. This home is move-in ready and waiting for you to make it your own. Don't miss out on this exceptional opportunity! Ideally located to Scottsdale's finest shopping, dining, schools and 101 Freeway.

884 W Whitten Street Chandler, AZ 85225

$739,900
3 Beds
2.5 Baths
2,600 SqFt
Status Active
MLS # 6774478
Property Type Single Family Residence
Price Type --
Beautiful 3 Bedroom, 2 ½ bath, 2600 SF home in highly desirable Campo Verde. Sits on a large 9800 SF lot and backs up to the community park. Includes a formal living room, dining room, office space, great room and eat in kitchen. Surround sound throughout. The 2nd and 3rd bedrooms share a Jack-and-Jill bathroom. 3 car tandem garage. This one owner home has been proudly maintained with custom draperies, fresh paint throughout, professionally cleaned tile floors and new carpet. Desert landscaping in the front and a large backyard that is a blank slate for whatever the new owner wants to create!

4142 E Thistle Landing Drive Phoenix, AZ 85044

$739,900
4 Beds
3 Baths
1,936 SqFt
Status Active
MLS # 6767466
Property Type Single Family Residence
Price Type --
RARE PRESERVE LOT - almost a quarter acre! Sit in your tranquil backyard , dip your toes in your pool and when you feel like hiking, the hillside trail starts behind you. No neighbors behind or to East. Downstairs features vaulted beamed ceilings, custom curved maple railing, two living spaces at front & side of kitchen, laundry, bedroom/office, bath with outside entry for pool access. Upstairs features primary suite with en-suite bath, two additional bedrooms and another bath. . Propane heated pool, spa and kitchen stove. Located in Mountain Park Ranch with pool, spa, and tennis. Kyrene schools. Owned solar.

14341 N 81st Drive Peoria, AZ 85381

$739,900
5 Beds
3 Baths
3,294 SqFt
Status Active
MLS # 6767388
Property Type Single Family Residence
Price Type --
Absolutely Stunning 5 Bedroom, 3 Bath, Single Level Home Located in Private Gated Community, Formal Living & Dining Room, Open Kitchen w/Custom Cabinets & Corian Countertops, New Stainless Steel Appliances, Double Oven, Build-In Microwave, Kitchen Island w/Breakfast Bar, Eat-In Kitchen Dining Room, Spacious Family Room w/Vaulted Ceilings & Gas Fireplace, Master Bedroom w/Separate Exit to Backyard & Spacious Walk-In Closet, Master Bathroom w/Dual Sinks & Custom Walk-In Shower, Split Floor Plan w/3 Bedroom/1 Bath w/Separate Teen Room, Additional Office/Den w/3rd Bathroom, Newer A/C Units, Extended Covered Backyard Patio, Sparkling Pool & Spa w/Waterfall Feature, Mature Landscaping Front & Backyard, 2 Car Ext Garage, RV Gate & RV Parking, Community Park w/Playground and Covered Ramada Area

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