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.

What’s Your Home Worth?

Search for Your New Home

18808 N 34th Way Phoenix, AZ 85050

$727,000
5 Beds
3 Baths
2,615 SqFt
Status Active
MLS # 6755964
Property Type Single Family Residence
Price Type --
Gorgeous 5-bedroom haven w/a 3-car garage is about to be yours! Welcoming interior has been tastefully upgraded. Fresh interior paint, tile & new carpet, Vaulted ceilings, plantation shutters. Large living & dining room. Don't miss the floor-to-ceiling brick fireplace in the family room. Open-concept kitchen offers recessed & pendant lighting, granite counters, cabinets & cupboards w/crown molding, SS appliances, island & bay window in the breakfast nook. You'll have a bonus room ideal for an office. Double doors reveal the spacious main retreat equipped w/an ensuite w/dual sinks, a walk-in closet, & a soaking tub. Serene backyard provides a covered patio for outdoor dining & a refreshing pool perfect to beat the summer heat. NO HOA! This is your next home!

23046 N 21st Street Phoenix, AZ 85024

$727,000
3 Beds
2.5 Baths
2,623 SqFt
Status Active Under Contract
MLS # 6712292
Property Type Single Family Residence
Price Type --
Dream home nestled in a serene cul-de-sac, boasting large backyard & expansive covered patio w/ mountain views. Vaulted ceilings offer a spacious & airy ambiance. This comfortable home features large bedrooms and well-appointed bathrooms. A generous loft offers flexibility, be it a home office or a play area. Designed for entertaining large or intimate gatherings, the layout includes a sizable living room and open kitchen, complete w/ granite countertops & ample cabinetry, flowing into the dining area & separate great room. This North Phoenix community is known for its schools, including top-ranked K-8 elementary, and proximity to essential freeways, shopping & dining. Other luxuries include 3-car garage & cost efficient OWNED solar panels. Pride of ownership shines throughout this home.

7684 W Tether Trail Peoria, AZ 85383

$726,990
3 Beds
2.5 Baths
2,495 SqFt
Status Active
MLS # 6731530
Property Type Single Family Residence
Price Type --
Welcome to Ashton Woods newest community in Peoria -The Sanctuary at Aloravita. This 2,495 Topaz floorplan features a Craftsman elevation and includes 3 bedrooms, 2.5 baths, and a 3-car tandem garage. The massive kitchen island is perfect for family and friends to gather as it opens to the home's great room for easy entertaining. The kitchen includes stainless steel appliances with a gas cooktop, large undermount sink, beautiful charcoal stain shaker style cabinets, cabinet hood, quartz countertops, and a must see Butler's Pantry. Other features include, 8' interior doors, wood plank floor tile, upgraded carpet/pad, and a soft-water loop in the 3-car tandem garage.

4200 W Acer Lane Show Low, AZ 85901

$726,840
3 Beds
3 Baths
1,844 SqFt
Status Active
MLS # 6749195
Property Type Single Family Residence
Price Type --
This is a virtual spec to be built on currently vacant lot. The spacious 1844sf floor plan is perfect for a single family home. Have this 3 bedroom plan with excellent standard features built for $726,840. This is a lot and home package and we have builders ready to finance the project. Estimated build time is 12 months from HOA approval. If you would prefer a custom home be designed for that lot, we can help with that too, other floor plans and lots are available. Located in the highly desirable Torreon community, this home offers the best of both worlds - a quiet and peaceful setting, with convenient access to nearby amenities. Don't miss the opportunity to make this stunning property your own. Make your dream home a reality - We can modify or change this plan as needed.

34320 N Sandpiper Trail Queen Creek, AZ 85144

$726,620
3 Beds
3 Baths
2,770 SqFt
Status Active
MLS # 6722507
Property Type Single Family Residence
Price Type --
Welcome to this brand new home in Emblem at Oro Ridge. This home boasts 3 bedrooms, an office, 3 bathrooms, a 3 car tandem garage, and beautiful upgraded throughout. The gourmet kitchen is gorgeous with stainless steel appliances, Urban Taupe Cabinets, Quartz countertops, and a breakfast bar at the kitchen island. You will love the upgraded flooring throughout and the barn doors on the hobby room! Do not miss out on this gorgeous home!

9848 E Sunburst Drive Sun Lakes, AZ 85248

$726,000
4 Beds
2.5 Baths
3,166 SqFt
Status Active
MLS # 6752239
Property Type Single Family Residence
Price Type --
Immaculately cared for 4BR, 2.5BA home within walking distance of the clubhouse in the exclusive active adult community of Oakwood in Sun Lakes. Great curb appeal, N/S facing lot. Expansive LR/DR with vaulted ceilings greets you as you walk in this charming property. The spacious kitchen features a large island, perfect for entertaining, oak cabinets, granite counters and a breakfast area. Family room off kitchen can accommodate large furniture and overlooks the serene backyard. Enormous primary suite with plenty of room for a sitting area, large bathroom with separate shower and tub and long dual sink vanity. A bonus 4th bedroom on the main floor could also be an office, den or craftroom. Privacy of the upstairs has 2 large bedrooms and a full bath: perfect for your out of town guests Long covered north facing back patio in a private, walled backyard with mature vegetation. 2 newer AC units and a full 3 car garage. Oakwood boasts golf, pools, tennis, pickleball and so much more!

17025 E La Montana Drive Unit 107 Fountain Hills, AZ 85268

$726,000
2 Beds
2.5 Baths
2,373 SqFt
Status Active
MLS # 6746483
Property Type Townhouse
Price Type --
Excellent Location and VIEWS! Walk to Fountain Park, restaurants, hiking trails and shopping. You will enter the home through a private, gated courtyard with beautiful desert landscaping. The 2 level Townhome-style has 2 ensuite bedrooms, 1 up and 1 down, The primary bedroom has access to large covered patio with a built-in gas BBQ and beautiful mountain and fountain views. Lower level has the second bedroom/full bath as well as a large family room/office room and also has a large patio (separate entrance/exit). Quiet interior unit, away from traffic. This gated community has a community pool and a work-out room for residents. Recent updates include kitchen appliances, quartz countertops,wine fridge, self-closing cabinet doors, 1 new AC,,. List price is at Sept 2024 appraised value New walk-in shower and lighting in primary bathroom. Full house water treatment system (One Energy) New fans and lighting throughout home. New shutters and window coverings. 1 New AC 2024

10935 E Tahoe Avenue Mesa, AZ 85212

$725,735
5 Beds
4 Baths
3,314 SqFt
Status Active
MLS # 6622556
Property Type Single Family Residence
Price Type --
MLS#6622556 Ready Now! The Revere at La Mira Expedition Collection greets you with the beautiful courtyard and an inspiring spiral staircase and large foyer. The spacious formal dining connects to the butler's pantry and into the large kitchen. The gourmet kitchen with island and adjoining breakfast room overlooks the gathering room. There is also a guest bedroom with full bath down! Upstairs, you will find a game room, three secondary bedrooms, two full baths, a laundry room and the private owner's suite. Owner's bath features dual vanities, a spacious walk-in closet, and a separate tub/shower. Structural options include: added bed 5 in place of study, multi-slide door, 220 Volt outlet on dedicated circuit in the garage, shower in lieu of tub at secondary bath, softer water loop and paver driveway and walkway.

2142 W Hide Trail Phoenix, AZ 85085

$725,106
4 Beds
3.5 Baths
2,718 SqFt
Status Active Under Contract
MLS # 6727818
Property Type Single Family Residence
Price Type --
Move in ready home! Popular Virtue 493 plan with primary suite downstairs. Spacious great room open to the gourmet kitchen with gas cooking, stainless steel appliances, upgraded luxury vinyl plank flooring, and stained maple cabinets. Easy maintenance with front and side yard landscaping included! The Retreat collection at Union Park features multiple parks, community pool, and rec center. Conveniently located with quick access to schools, shopping, restaurants, all the conveniences of urban town living.

8025 S Jefferson Avenue Casa Grande, AZ 85193

$725,000
4 Beds
4 Baths
2,459 SqFt
Status Active
MLS # 6734049
Property Type Single Family Residence
Price Type --
Experience the future of homeownership with this 2023 Net Zero Smart Custom Home, where you can say goodbye to water, gas, and power bills. Nestled on a tranquil 1.48-acre lot in Pinal County, this eco-friendly haven offers the ultimate in sustainable living, all with no HOA fees. Perfectly situated just minutes from the I-10 freeway, this property combines convenience with serenity. The open design seamlessly blends the living, dining, and kitchen areas, creating a spacious and inviting atmosphere ideal for both everyday living and entertaining. This home is a technological marvel, featuring 30 high-efficiency 450W solar panels and two 18kW backup batteries, ensuring you're always powered up. The Rannai water heater, triple low-E windows, thermal bridging, and top-tier insulation contribute to its impressive energy efficiency. Built on a robust 24'' foundation, this home also boasts numerous upgraded finishes and a charming wrap-around porch, perfect for enjoying the serene surroundings. The property includes a shared well, an advanced energy solar system, and a septic system, providing you with complete off-grid living. There's ample space and opportunity to bring your toys and horses, making it ideal for those who love outdoor activities and equestrian pursuits. Located just miles from LCID Motors, Attesa Motorsports Complex, and other exciting upcoming projects in Casa Grande, this home is perfectly positioned for both relaxation and adventure. Please follow the provided directions for your visit, as GPS may not be reliable in this area. Take advantage of the seller's willingness to carry the loan on this remarkable property and embrace a lifestyle of sustainability and tranquility

2677 W Marita Street Queen Creek, AZ 85144

$725,000
4 Beds
3 Baths
2,766 SqFt
Status Active Under Contract
MLS # 6777084
Property Type Single Family Residence
Price Type --
BRAND NEW Construction w/ Custom-Quality Upgrades! This beautiful Modern Farmhouse is located on 1.25 ACRES of Horse Property. Gourmet Kitchen w/ WOLF Appliances, high-end Cabinets w/ 42'' uppers, White Quartz Countertops, 36'' WOLF Gas Cooktop & Range, Built-in Stainless-Steel pull-out Microwave & Wood Plank Tile Floors. Stunning Master Bathroom w/ Freestanding Soaking Tub, BEACH ENTRY 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 in MARCH.

19334 W Pasadena Avenue Litchfield Park, AZ 85340

$725,000
5 Beds
3.5 Baths
3,072 SqFt
Status Active
MLS # 6726453
Property Type Single Family Residence
Price Type --
GORGEOUS, SPACIOUS HOME ON PREMIUM, CORNER LOT! STARTING W/ THE WONDERFUL CURB APPEAL & INVITING COUTRYARD ENTRANCE, THIS HIGHLY UPGRADED HOME IS SURE TO IMPRESS YOU! FABULOUS KITCHEN W/ WOLF OVEN & MICROWAVE, GAS COOKTOP, BUILT-IN S/S REFRIG., TILED COUNTERTOPS/BACKSPLASH & LOTS OF CABINETS IS COMPLETE W/ BREAKFAST BAR, ISLAND, PANTRY, & BREAKFAST ROOM. POPULAR GREAT RM CONCEPT W/ SEP. DINING AREA. TERRIFIC SPLIT-BR FLOOR PLAN, WITH 3 OTHER BEDROOMS & CHARMING GUEST SUITE TO BOOT! EXPANSIVE MAIN SUITE HAS COZY FIREPLACE & SEP. EXIT. INSIDE LAUNDRY. POWDER ROOM. THIS 5 BR/3.5 BATH W/ 3 CAR GARAGE (TANDEM) IS LIKE A MODEL W/ PLANTATION SHUTTERS, & DESIGNER TOUCHES T/O! BEAUTIFUL TILE & LAMINATE FLOORING. BACKYARD PARADISE INCLUDES COV. & OPEN PATIOS W/ PAVERS, WATERFALL, & FIREPIT!

Leave a Reply

Your email address will not be published.