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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21320 N 56th Street Unit 2197 Phoenix, AZ 85054

$725,000
2 Beds
2 Baths
1,697 SqFt
Status Active
MLS # 6746388
Property Type Townhouse
Price Type --
Experience resort-style living at its finest in the luxurious Bella Monte community! This sunny, south-facing second-floor gem offers 2 bedrooms plus a den and 2 full baths, and comes fully furnished. The warmth of this home embraces you as soon as you step onto the front balcony and enter the open, inviting space. The open-concept design features a spacious family room, a well-appointed kitchen with updated counters, backsplash, and flooring, and a large rear balcony—ideal for hosting gatherings, big or small. The two split bedrooms, each with its own walk-in closet, provide the perfect retreat after a day of enjoying all this community has to offer. The fully updated baths add a touch of luxury, making every day feel like a spa day. Additional perks of this lovely unit include a full-size (not tandem) 2-car garage, a first-floor storage closet, balconies on both the north and south sides, and a large storage closet in the laundry room. Plus, you're just a few blocks from Desert Ridge, City North, and easy access to highways 101 and 51. Go to our website for more information Seller is willing to sell unit -fully furnished.

5169 N 207th Drive Buckeye, AZ 85396

$725,000
2 Beds
3 Baths
2,454 SqFt
Status Active
MLS # 6747130
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the serene gated community of Mountainside in Victory, for 55+, where every detail has been thoughtfully curated to blend luxury with comfort. This exquisite home offers breathtaking mountain views and boasts 2 spacious bedrooms and 3 elegantly designed bathrooms. The main level features a primary bedroom with a spacious bath and a custom walk-in closet. Downstairs also includes a den, meticulously finished with custom built-in cabinets, providing ample storage and an elegant touch. You have another bedroom and full bathroom to complete the downstairs. The heart of the home is the upgraded kitchen, a chef's delight w/ granite countertops, stylish tile backsplash, a custom pantry and extended island that invites both culinary creativity and casual gathering. The open-concept layout seamlessly connects the kitchen to the living and dining areas, making it ideal for entertaining. Upstairs, you'll find a versatile loft area that opens to a generous balconyperfect for taking in the stunning vistas or relaxing with a good book. The loft is complemented by a full bathroom, making it an excellent space for guests or a private retreat. Opening your extended sliders downstairs to the backyard you will find a private oasis featuring travertine decking, a built-in fire pit, and a motorized shade creating an inviting space for outdoor enjoyment and cozy evenings under the stars. Home upgrades include custom motorized shades in every room, providing ultimate privacy. This SMART home also includes a two-car epoxy garage, reverse osmosis, and a water softener. This exceptional property marries custom finishes with practical design, ensuring a sophisticated yet comfortable living experience.

17720 W Cactus Flower Drive Goodyear, AZ 85338

$725,000
3 Beds
2 Baths
2,381 SqFt
Status Active
MLS # 6751911
Property Type Single Family Residence
Price Type --
WOW! What a view! Spectacular Sunrises/Sunsets and Panoramic Mountain views! Beautifully maintained home with many upgrades. (Original UDC Copper Ridge Model Home) Spacious open floor plan with vaulted ceilings - Many options for creative room utilization. Extra large meticulously manicured lot (almost 1/3 acre!) with view fencing overlooking the North Lake! This highly sought after community is nestled next to the Estrella Mountains with gorgeous views and amazing amenities including hiking/biking, golf, fishing, tennis/Pickleball, boating - Resort living at it's finest!

5718 E Danbury Road Scottsdale, AZ 85254

$725,000
3 Beds
3.5 Baths
1,854 SqFt
Status Active
MLS # 6769825
Property Type Single Family Residence
Price Type --
Photos will be added next week as seller is moving. Two story home with two bedrooms and a loft that could easily become a third bedroom as it has a closet. Detached casita in front has a bedroom and bath. Big stirage shed and room for additional parking on the east side. Quiet Cul-de-sac with N/S facing. Needs updating but in a neithborhood of higher priced homes,

20410 N 51st Drive Glendale, AZ 85308

$725,000
4 Beds
2.5 Baths
1,892 SqFt
Status Active
MLS # 6759825
Property Type Single Family Residence
Price Type --
Prestigous Arrowhead Lake water property with specatcular sunset views with your own personal dock and pontoon boat. This Regal 4 bedroom home has been remodeled thoughout to include newer granite kitchen counters, new lighting throughout, custom shutters and window treatments, tile flooring, Custom decorator touches throughout and professionally landscaped. Solar panels are leased but will be paid off prior to closing for the new owners. Impeccably maintained inside and out. Exterior has just been painted Sept 19, 2024. Pontoon boat my be included in sale.

13036 N 20th Street Phoenix, AZ 85022

$725,000
4 Beds
2.5 Baths
2,665 SqFt
Status Active
MLS # 6755217
Property Type Single Family Residence
Price Type --
Introducing a stunning brand-new home with breathtaking mountain and city light views! This spacious home features an open layout, perfect for entertaining and family gathering. The kitchen is equipped with high-end appliances and modern finishes, while sliding glass doors lead to a back patio, seamlessly blending indoor and outdoor living. Luxurious wood flooring runs throughout. Every detail, from the spacious bedrooms to the beautifully designed bathrooms, ensures comfort and style. Just 5 minutes from the freeway, this home offers easy access to the rest of the city. Top-ranked BASIS Phoenix is nearby. Outdoor enthusiasts will love the proximity to scenic hiking trails and golf resorts. The home is offering both convenience and adventure!

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!!

4808 N 24th Street Unit 224 Phoenix, AZ 85016

$725,000
2 Beds
2 Baths
1,528 SqFt
Status Active
MLS # 6777655
Property Type Apartment
Price Type --
Discover a rare opportunity to own this luxurious, fully furnished condo crafted for those who appreciate the finer things in life. Created and designed by a top interior designer, this meticulously remodeled corner unit spares no expense including a new, special-order HVAC unit. Floor-to-ceiling windows and premium finishes elevate every detail in this condo, which boasts one of the largest private patios in the building, a true rarity. Step inside and be enveloped in warmth from natural light reflecting off wood-look luxury vinyl plank flooring, and enjoy a spacious 2-bedroom, 2-bathroom layout with a dedicated office space ideal for young professionals or as a ''lock-and-leave'' option for snowbirds. The chef's kitchen is a masterpiece, featuring crisp white quartz countertops, custom cabinetry, and newly installed stainless steel appliances, including a coveted gas stovetop. Both bathrooms are luxuriously appointed with quartz countertops and tile walk-in showers, seamlessly continuing the condo's refined aesthetic. Outside, the expansive private patio awaits, offering a tranquil spot above the vibrant Biltmore Fashion Park area, perfect for unwinding. Take in 360-degree views of the Valley from the rooftop terrace, complete with a new pool, or walk to local amenities, from upscale dining and shopping to theaters and Biltmore-area attractions. Sky Harbor Airport, Arcadia, Downtown Phoenix, and Old Town Scottsdale are minutes away, adding convenience to this incredible location. Additional perks of Unit 224 include new washer and dryer, two designated parking spaces, storage closet, abundant guest parking, and full access to the building's newly remodeled 24-hour fitness center, steam room, business center, and clubroom with a catering kitchen. An on-site HOA property manager offers concierge-level service, making every day seamless. Experience the pinnacle of luxury living at the Optima Biltmore book a tour today and make this exclusive, designer-owned residence yours!

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!

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