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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15079 W Desert Vista Trail Surprise, AZ 85387

$725,000
4 Beds
2 Baths
2,194 SqFt
Status Active
MLS # 6760921
Property Type Single Family Residence
Price Type --
This is home is close to Perfection !!! Horse property , no HOA in this growing area of Surprise. Corner cul-de-sac lot , w/ 3 car garage. Backyard has block fencing and 2 RV gates , bring your toys and horses!!! Water softener in garage and added 50 amp breaker to box. Kitchen features custom hood -fan, tiled backsplash , and 2 pantry cabinets , breakfast bar has granite , deep sink, built-microwave. most light fixtures/indoor-outdoor and ceiling fans were replaced. Ideal home for entertaining guest . Master bath posses luxury free-stand soaking tub , Maser bedroom has large walk-in-closet Builder warranty available , and all appliances will convey.

64 W Via De Palmas -- San Tan Valley, AZ 85140

$725,000
3 Beds
2 Baths
2,078 SqFt
Status Active
MLS # 6759036
Property Type Single Family Residence
Price Type --
1.39 irrigated acres in the heart of San Tan Valley!! The property offers an inviting front porch & a circular drive & two custom metal gates to access the backyard. The home's entry is bright and open to the den, living room, & eat-in kitchen with bay window. It is PERFECT for entertaining with all of its open space and direct access to the covered back patio. Split master bedroom offers a large walk in closet, dual sinks, a shower, tub & access to the backyard. There's also two additional bedrooms & an oversized laundry room. Garage has air conditioner for storing stuff or working on projects. Recently remodeled 45'x25' custom pool with built in spa. Play Basketball or Volleyball while you soak up the sun. Gather your horses and/or your toys, there is more than enough room!!

239 E Pinto Court Gilbert, AZ 85296

$725,000
4 Beds
3 Baths
2,733 SqFt
Status Active
MLS # 6761262
Property Type Single Family Residence
Price Type --
This stunning home in Settler's Point is exactly what you've been looking for! Featuring 4 spacious bedrooms, 3 bathrooms, and a 3-car garage, this property is nestled in a cul-de-sac near the community park. Recently updated with new tile flooring and fresh paint throughout, it feels bright and welcoming. The modern kitchen boasts neutral cabinetry, a newly installed island, and upgraded countertops. Upstairs, you'll find the generously sized primary suite, along with two additional bedrooms and a full bath. The lower level includes a full bedroom and bath, ideal for guests. Outside, the backyard offers a diving pool, a grassy area, and space for a small sport court. Located close to Downtown Gilbert fine restaurants and shopping!

10758 E Lobo Avenue Mesa, AZ 85209

$725,000
5 Beds
3 Baths
3,435 SqFt
Status Active
MLS # 6762546
Property Type Single Family Residence
Price Type --
Welcome to this exquisite move-in ready home nestled in the highly sought-after Villages of Eastridge! As you enter, you'll be greeted by a thoughtfully designed floor plan that seamlessly blends elegance and functionality. The formal living and dining areas are perfect for hosting gatherings, while a conveniently located bedroom and full bathroom on the main floor provide comfort and accessibility for guests or family. Venture upstairs to discover a sprawling loft, ideal for a game room, media center, or additional living space, catering to all your entertainment needs. This home is filled with luxurious upgrades, including beautiful wood laminate and tile flooring that add warmth and sophistication, along with stunning granite countertops and designer fixtures that elevate the overall aesthetic. The gourmet kitchen is a chef's dream, featuring a large island that invites casual dining, a spacious pantry for ample storage, and high-end stainless-steel appliances, complete with gas cooking for precise culinary creations. Retreat to the expansive master suite, where you'll find a tranquil oasis with a separate shower and a relaxing garden tub. A private exit leads you to the balcony, perfect for enjoying morning coffee or evening sunsets. Step outside to your impressive resort-style backyard, a true paradise for relaxation and entertainment. The covered patio offers a shaded retreat, while the heated saltwater pool and hot tub provide a perfect escape on warm days. An outdoor built in BBQ adds a touch of convenience and ensures that you can host unforgettable summer cookouts. This home truly embodies luxury living in a prime location!

8201 E Monterey Way Scottsdale, AZ 85251

$725,000
3 Beds
2 Baths
2,026 SqFt
Status Active
MLS # 6768389
Property Type Single Family Residence
Price Type --
Welcome to sunny Scottsdale, Arizona! This 2,026 sqft home is set on a private 1/4+ acre lot in the heart of Scottsdale, AZ. This lot is arguably the nicest lot in the community (private, no through streets, next to a quiet walking path) The original owner has taken immaculate care of the home. New roof 2024, sewer re-pipe 2024, New electric panel 2024... and the list goes on! This spacious floor plan allows for easy entertaining with open formal living and dining, while the heart-of-the-home family room (with fireplace) opens perfectly to the kitchen. Just off the living room you will find the large indoor laundry room and a private den with door access to the side yard! Use the den as a home office, gym space or crafts area. On the other side of the home, you will find three bedrooms and two bathrooms. Outside, relax under the oversized covered patio. Pick your own fruit from the handful of mature citrus trees. Watch the Arizona sunset from your own slice of paradise. This beautiful home is nestled in the highly desirable South Scottsdale Corridor - minutes from Old Town, Fashion Square Mall, Restaurants, MLB Spring Training Facilities, Chaparral Park, golf courses, hiking, and the 101 Freeway. Homes like this rarely come to the market. Schedule your showing today!

18049 W Denton Avenue Litchfield Park, AZ 85340

$725,000
4 Beds
2 Baths
2,782 SqFt
Status Active
MLS # 6763027
Property Type Single Family Residence
Price Type --
This custom home on a large lot in the coveted community of Russell Ranch has 4 bedrooms, 2 baths, a bonus room, open kitchen and great room as well as an oversized 3 car garage, exterior storage, an RV gate and 2 newer Trane AC's. Inside you'll find an updated kitchen with double ovens, built in microwave and island, new RO system, dual hot water heaters, 10ft ceilings, nest thermostats, recessed lighting, neutral finishes and a split floor plan. Take advantage of being close to entertainment, restaurants, highways, while being in a quiet, peaceful, upscale community.

2158 N Yale -- Mesa, AZ 85213

$725,000
4 Beds
3 Baths
2,440 SqFt
Status Active
MLS # 6763692
Property Type Single Family Residence
Price Type --
Completely updated home in a non HOA community with potential ADU in backyard. Brand new roof, new paint on the inside and outside. Brand new carpet, synthetic grass for easy maintenance. Great schools, Stapley Jr High and Mountain View HS. Grab your Realtor and come see this house today

10460 E Fanfol Lane Scottsdale, AZ 85258

$725,000
2 Beds
2 Baths
1,473 SqFt
Status Active
MLS # 6764702
Property Type Single Family Residence
Price Type --
Impeccable Remodeled Gorgeous Home Ready to Move-in to! This popular Single-level floorplan features a Spacious Primary Bedroom with 12' Ceilings, a Walk-in Closet, and Ensuite Bath: a Cozy Living Room, 2 car Garage, and an Easy to maintain Backyard with a Covered Patio, Barbeque Grill and Lush Landscaping. You'll Love the appeal of Suntree East, an Exclusive Gated Community of 192 homes that provides privacy & walkable streets lined with grass front yards, a Heated Community Pool, and Social Activities. Exceptional location is close to the loop 101, Honor Health, and Scottsdale Ranch Park, Tennis Center and a 10-minute walk to the Mergado Shopping Centre.

4647 N 24th Street Phoenix, AZ 85016

$725,000
3 Beds
2 Baths
1,800 SqFt
Status Active
MLS # 6764476
Property Type Single Family Residence
Price Type --
Prime Biltmore location with incredible potential! This beautifully remodeled 3 bedroom, 2 bathroom home is nestled in the heart of the coveted Biltmore area, just steps from the upscale shopping and fine dining that make this neighborhood so desirable. Situated on a high-visibility street, this property offers an exceptional opportunity for a home-based business with its dedicated office space. Imagine welcoming clients into your professional workspace while still enjoying the comforts of home. Beyond its business potential, this residence boasts a spacious and inviting interior, perfect for relaxing or entertaining. Don't miss out on this chance to own a piece of the Biltmore lifestyle!

18675 N 91st Street Scottsdale, AZ 85255

$725,000
2 Beds
2 Baths
1,542 SqFt
Status Active
MLS # 6765572
Property Type Single Family Residence
Price Type --
Great value for a single-family home in Central Scottsdale's Ironwood Village. Clean and well maintained 1-level with 2 split bedrooms, 2 bathroom, open living concept with high vaulted ceilings and lots of light. Landscaping boasts a variety of cactus and well-groomed trees and shrubs including citrus. Enjoy the over-sized backyard patio on those relaxing evenings. Ceiling fans, sunscreens, water softener, and newer water heater, roof and a/c will help keep your utility and maintenance costs reasonable. Nearby recreational opportunities at Ironwood Park, the Gateway Trailhead and more. This would make a great home for any small household or winter visitors. Similar comps are in the $825K range, so there's room to put your own stamp on refreshing the mostly original interior.

4813 W Yoosooni Drive New River, AZ 85087

$725,000
3 Beds
2.5 Baths
2,666 SqFt
Status Active
MLS # 6771298
Property Type Single Family Residence
Price Type --
Discover your perfect home in Anthem Parkside's desirable Arroyo Grande neighborhood! This beautiful ''Majesty'' model offers all the comforts of modern living with the freedom to park your RV or boat on your property—no HOA restrictions! The inviting courtyard and secure screen door lead you into a single-level layout featuring 3 bedrooms, an office/den, and 2.5 bathrooms. The chef's kitchen showcases stainless appliances, granite counters, and a spacious island. Enjoy privacy in the master suite with access to a tranquil backyard oasis, complete with a gas fire pit, hot tub, and built-in BBQ. With owned solar and low-maintenance landscaping, this home is a rare find!

2107 S Paseo Loma -- Mesa, AZ 85202

$725,000
3 Beds
2 Baths
1,954 SqFt
Status Active
MLS # 6779459
Property Type Single Family Residence
Price Type --
Lake Front, Large Lot, Large Home, completely updated to today's standards! Lake view and access from both the master bedroom and the living room! New large 12 foot slider onto your back deck, New redesigned gourmet kitchen, New redesigned master suite. The large deck is perfect Homes with private access to the lake sell quickly. Don't let this one slip by.

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