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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1239 E Kramer Circle Mesa, AZ 85203

$739,000
5 Beds
3 Baths
2,781 SqFt
Status Active
MLS # 6741871
Property Type Single Family Residence
Price Type --
This single level 5-bed, 3-bath home sits on a quiet cul-de-sac in a gated community. Curbside, you see an immaculate front yard, and the extended driveway leads to a 3-car garage. The living/dining room welcomes you with a soothing palette, plantation shutters, and attractive wood-look floors. The great room features high ceilings and an inviting fireplace. Sliding doors open to a beautifully landscaped backyard with an inviting pool and putting green. The chef's kitchen features granite counters, abundant white cabinetry with crown molding, mosaic tile backsplash, stainless appliances, a pantry, and an island breakfast bar. The main bedroom offers clerestory windows for natural light, an ensuite with dual sinks, and a walk-in closet. Outside, the covered patio, putting green, and refreshing pool create an enchanting oasis. Don't wait!

2402 W Cj Drive Flagstaff, AZ 86001

$739,000
3 Beds
2.5 Baths
2,128 SqFt
Status Active
MLS # 6748951
Property Type Single Family Residence
Price Type --
Impeccable, spacious home has a beautiful open floor plan & shows like a model. That gorgeous furniture? It's all included! 9-ft ceilings; huge windows; large, great room & dining area; the private courtyard & the lemonade worthy front porch make it perfect for entertaining. Loaded w upgrades including wood-look Tile & Vinyl floors, stainless appliances, granite counters & maple cabinets. Walk-in closets in every bedroom. Primary has 2 closets & oversized walk-in tiled shower. Ample storage w closet under the stairs. Air Conditioning of course! Don't forget the car charger in the garage. Only a 1 minute walk to the park. Truly a turnkey home!

1201 W Washington Avenue Gilbert, AZ 85233

$739,000
5 Beds
3 Baths
2,876 SqFt
Status Active
MLS # 6755750
Property Type Single Family Residence
Price Type --
Welcome to this stunning/beautiful two-story home situated on an inside corner lot in the heart of Gilbert, AZ. This 5-bedroom, 3-bathroom residence offers everything you need for comfortable and luxurious living. As you approach the home, you'll notice the impressive 3-car garage and RV gate, providing ample space for vehicles, as well as extra parking available on the large side yard. The spacious backyard is a true oasis, featuring a sparkling blue pool, complete with a soothing water feature, perfect for cooling off during Arizona's warm days. The large, tranquil grassy area is ideal for outdoor activities, gardening, or simply unwinding in your own private sanctuary, complete with a little house/shed for endless possibilities. Inside, you're greeted by vaulted ceilings that create an open and airy atmosphere. The formal living and dining rooms provide an elegant space for hosting gatherings and special occasions. The open eat-in kitchen is a chef's delight, complete with a center island and breakfast bar, stainless steel appliances, and seamless flow into the cozy family room. Here, you can enjoy evenings by the gas fireplace, making it the perfect spot for relaxation. Upstairs, the primary bedroom serves as a luxurious retreat, featuring an ensuite bathroom with dual sinks, a separate shower, a deep soaking tub, and a spacious walk-in closet. Three additional bedrooms and a guest bathroom are also located on the upper level, providing plenty of space for family and guests. A fifth bedroom is conveniently located downstairs, ideal for a home office or guest room. The home is part of a friendly community that offers a pool, park, and playground, making it a great place for get togethers. Its location is unbeatable, with popular restaurants, convenient shopping, McQueen Park, and local schools just a short drive away. Don't miss the opportunity to make this incredible home your own and enjoy all that Gilbert has to offer!

3020 N 24th Place Phoenix, AZ 85016

$739,000
3 Beds
2 Baths
1,662 SqFt
Status Active Under Contract
MLS # 6770644
Property Type Single Family Residence
Price Type --
A rarely preserved MCM gem just outside of one of Phx's coolest hoods - Phoenix Homesteads. The perfect time of year to make this time capsule your new home - just as the neighbors are getting ready to light up ''Candy Cane Lane''. Sunken planters, floor to ceiling windows, block construction and flagstone floors are a few of the ''they don't make 'em like they used to'' highlights. Design Builder William Corbett Jr. paid homage to his ship building father through the stunning walls and ceilings of beautiful Redwood. A special house looking for an equally awesome new owner.

20930 E Canary Way Queen Creek, AZ 85142

$739,000 - 5Br/4Ba -  for Sale in Terravella Phase 1, Queen Creek
Open House
$739,000
5 Beds
4 Baths
2,752 SqFt
Status Active
MLS # 6772572
Property Type Single Family Residence
Price Type --
Beautiful Taylor Morrison Next Gen Home In Queen Creek. This stunning 4 year old Taylor Morrison Resale offers the ultimate in modern living with a unique attached casita featuring a private entrance, perfect for multi-generational living or quests. The home boasts a bright, open floor plan, complete with sleek, updated ceiling fans and light fixtures throughout. A massive sliding glass door seamlessly connects the indoor living space to the outdoor patio, providing a perfect flow for entertaining. The gourmet kitchen is a chef's dream, showcasing granite countertops, an oversized island with a breakfast bar, and soft-close cabinets and drawers--all equipped with convenient roll-out shelves. The kitchen also includes a gas cooktop, dual electric wall ovens, and a spacious walk-in pantry. Enjoy the added benefit of a whole-house water filtration system, along with a separate under-counter reverse osmosis (RO) system for purified drinking water. Security and elegance blend with custom iron security entry doors and a beautifully designed cobblestone driveway and entry sidewalk. The backyard oasis features a heated and cooled saltwater pebble tech pool with a tranquil water feature, powered by a cutting-edge heat pump system. Ideally located close to major shopping centers, fine dining, and entertainment, this home offers both luxury and convenience, a perfect fit for families. Don't miss your chance to own this incredible home in the heart of Queen Creek.

120 Rio Sinagua -- Sedona, AZ 86351

$739,000 - 2Br/2Ba -  for Sale in Las Piedras Unit 1, Sedona
Open House
$739,000
2 Beds
2 Baths
1,630 SqFt
Status Active
MLS # 6763949
Property Type Townhouse
Price Type --
This courtyard entry home in Las Piedras boasts prime N/S exposure and stunning red rock views, with no neighbors directly in front or behind! Featuring 2 bedrooms, 2 baths, and a bonus space ideal for a desk or reading nook, this split-plan layout offers privacy with spacious bedrooms, walk-in closets, and adjoining ensuites. The dramatic turret entry with a 16-foot ceiling leads to a great room with a 12-foot volume ceiling, formal dining area, and a cozy gas fireplace. Enjoy the oversized back patio, which offers nearly unobstructed views of Court House Butte. Island kitchen is equipped with wall ovens, a cooktop, a large pantry, and a breakfast nook with corner windows framing the views. The primary suite features dual sinks, a separate tub, and a shower. Oversized garage w/storage!

8707 E Valley Vista Drive Scottsdale, AZ 85250

$739,000 - 3Br/2Ba -  for Sale in Park Scottsdale 6, Scottsdale
Open House
$739,000
3 Beds
2 Baths
1,590 SqFt
Status Active
MLS # 6749028
Property Type Single Family Residence
Price Type --
MOTIVATED SELLER! Discover your dream home in this stunning, contemporary residence, nestled on a quiet cul-de-sac. This prime location is unbeatable, just moments away from the vibrant heart of Old Town Scottsdale, with its excellent restaurants, charming shops and amenities. Newly remodeled to perfection, this home boasts a chef's kitchen, an expansive open living area, and spa-like bathrooms, all designed with exceptional attention to detail. Step outside to your private oasis, featuring a bocce ball court, above ground spa, and a covered seating area perfect for outdoor entertaining. Make this exceptional property yours and experience the finest in luxury living! Furniture available for purchase.

8716 E Mitchell Drive Scottsdale, AZ 85251

$739,000 - 3Br/2Ba -  for Sale in Park Scottsdale 16, Scottsdale
Open House
$739,000
3 Beds
2 Baths
1,713 SqFt
Status Active
MLS # 6755477
Property Type Single Family Residence
Price Type --
UPDATED, MOVE-IN Ready, adorable home near Old Town Scottsdale! NEW A/C 2024! BONUS ROOM! QUARTZ countertops, stainless stainless steel appliances, updated wood flooring throughout! Wine bar/coffee bar! Separate dining room or den! Private backyard! North/South exposure! NO HOA! NO POWER-LINES. Adorable KIVA for cool nights with built-in bbq grill! Perfect single-story home near schools, Scottsdale shopping, favorite restaurants, Spring-Training, entertainment! Great opportunity for Short-term rental! You don't want to miss this one! Furniture is negotiable. New irrigation system, 2024! Split floor plan! Clean and spacious pool! Storage shed, not visible from patio. New A/C 2024! Home Warranty!

2957 E Cherry Hill Drive Gilbert, AZ 85298

$738,990
5 Beds
3 Baths
3,625 SqFt
Status Active
MLS # 6746042
Property Type Single Family Residence
Price Type --
BRAND NEW KB HOME! This home features an open floor plan with 9-ft. first floor ceilings and a spacious great room that opens to an extended covered back patio. The modern kitchen boasts a large center island, quartz countertops, and Whirlpool® stainless-steal appliances, including a built-in double wall oven and separate gas cooktop. You'll find Emser® tile flooring throughout the first level, laundry and bathrooms and plush Shaw® carpeting upstairs. The first level includes a private den, versatile flex space and a bedroom with full bath. Moving upstairs, the spacious loft is the perfect spot for family movie nights. The primary suite boasts an expansive closet, and the primary bath features a walk-in shower and extended dual-sink vanity.

8404 W Palo Verde Drive Glendale, AZ 85305

$738,929
5 Beds
3 Baths
3,268 SqFt
Status Active
MLS # 6755753
Property Type Single Family Residence
Price Type --
MLS#6755753. January completion! NO BACK NEIGHBORS! The Breckenridge at Stonehaven Voyage. This spacious one-story floorplan has it all! The welcoming front porch entry leads to an impressive foyer. A cozy guest bedroom with walk-in closet and nearby full bath are conveniently located just off the foyer. A home office with views of the kitchen creates a connected space to stay productive. The expansive island overlooks the casual dining and gathering room. Tucked away for privacy, two additional bedrooms each with walk-in closets share a hall bath. The plush owner's suite includes a Large walk-in closet and spa-like bath complete with soaking tub and separate shower. Structural options included: bedroom 5 in lieu of dining, expanded laundry in lieu of tandem, pre plumb for laundry sink, gas line for future dryer, gas line for future outdoor kitchen, and RV gate.

17762 W Colter Street Litchfield Park, AZ 85340

$738,594
6 Beds
4 Baths
3,850 SqFt
Status Active
MLS # 6752221
Property Type Single Family Residence
Price Type --
MLS#6752221 Ready Now! The Hampton is a 2-story floor plan with 3,850sq. ft., featuring 6 bedrooms, 4 bathrooms, a 3-car split garage, game room, primary suite retreat, study, dining area, and a courtyard. Welcome to your dream home, this floor plan is designed for luxury. The spacious owner's suite has its own foyer leading to a primary bath with split vanities and a large walk-in closet. The primary suite retreat enhances your private haven. All bedrooms are upstairs, ensuring privacy from the active first level. This floor plan could be perfect for your next move. Structural options include: Guest suite downstairs, garage service door, bedroom 5 upstairs.

34284 N Sandpiper Trail Queen Creek, AZ 85144

$738,431
3 Beds
3 Baths
2,770 SqFt
Status Active
MLS # 6726623
Property Type Single Family Residence
Price Type --
Welcome to this stunning home in Emblem at Oro Ridge, you will love the charming courtyard and 3 car tandem garage! Boasting 3 bedrooms, a hobby room, a den, and designer touches throughout this home is a dream. The Gourmet kitchen is gorgeous with Quartz countertops, stacked shaker cabinets, stainless steel gas appliances, under cabinet lighting, and upgraded waterfall kitchen island. Plus matte black fixtures, upgraded doors and baseboards, upgraded electrical and low voltage, and wood floors in main areas. The primary suite is spacious with a lavish ensuite featuring a dual sink vanity and a walk-in tiled shower. The backyard offers an expansive covered patio! Do not miss out on this home!

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