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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3060 N Ridgecrest -- Unit 98 Mesa, AZ 85207

$725,000
4 Beds
3 Baths
2,733 SqFt
Status Active
MLS # 6732528
Property Type Single Family Residence
Price Type --
Two Story Home nestled on a lush oversized lot in the highly desirable neighborhood of Las Sendas. This property has a perfectly laid out backyard with loads of space to make your own. The extended covered patio includes space for dining and outdoor living. Pavers extend across from side entry gate to covered patio to the enlarged pool area. A raised terrace behind the pool is the perfect place to add a spa or firepit. Newer A/C units replaced in 2020/2021. Pool resurfaced with new pebble tec 2020. Fresh interior paint including doors and trim makes this home feel brand new! Kitchen includes granite counters, Island with storage, and Stainless Steel appliances. North / South exposure ensures your evenings will be enjoyable in this gorgeous private backyard. Las Sendas is an award winning community with upscale ammenities such as 2 heated community pools and spas, Tennis Courts, Pickle Ball Courts, Bocci, Basketball, Sand Volley Ball, Soccer and Baseball fields, Childrens Play Structures & Splash Pad, Party Ramadas, a fitness center, spa, and community center available to host events. Minutes from Saguaro Lake, Salt River Recreation Area, Usery Park and Located close to the 202 Red Mountain / San Tan Freeways.

5444 E Virginia Avenue Phoenix, AZ 85008

$725,000
3 Beds
2 Baths
1,519 SqFt
Status Active
MLS # 6754127
Property Type Single Family Residence
Price Type --
Welcome to 5444 E Virginia Ave, a stunning home nestled in the heart of Phoenix, AZ. This beautifully maintained property offers a perfect blend of modern upgrades and classic charm, making it ideal for those seeking comfort, style, and convenience. Situated on a spacious lot, this home features 3 bedrooms and 2 bathrooms, The open-concept living area flows seamlessly into the upgraded kitchen, boasting recently upgraded appliances, granite countertops, and plenty of cabinet space for all your culinary needs. Large windows flood the home with natural light, creating a warm and inviting atmosphere. New HVAC system installed 2023, roof replaced 2022 with 5 year warranty. Great outdoor space with covered patio and inviting firepit to fully enjoy the beautiful Arizona nights.

237 W Portland Street Phoenix, AZ 85003

$725,000
2 Beds
3.5 Baths
2,569 SqFt
Status Active
MLS # 6755371
Property Type Townhouse
Price Type --
Check out this wonderful townhome now for sale in Roosevelt Square! Inside you will find spacious dining & living areas w/stylish wood-look flooring, plantation shutters, and neutral palette throughout. The fabulous kitchen is equipped w/everything the aspiring chef needs, elegant wood cabinetry w/crown moulding, granite tile counters, pendant & recessed lighting, a pantry, stainless steel appliances such as a wall oven, and a lovely breakfast bar. Double doors open up to the primary bedroom, boasting soft carpet, a Juliet balcony, walk-in closet, and a full ensuite w/dual sinks. Nestled in the heart of Phoenix, close to dozens of restaurants, venues, shopping spots, and more, this home is a true gem! What are you waiting for? Act now before it's gone!

7708 S Terrace Road Tempe, AZ 85284

$725,000
4 Beds
3 Baths
2,450 SqFt
Status Active
MLS # 6771435
Property Type Single Family Residence
Price Type --
Prime Location in Tempe! Available now in the desirable 85284 area, this expansive single-story home features a stunning backyard oasis and is located within the highly acclaimed Kyrene School District. Local schools include Waggoner and KMS, with Corona del Sol just down the street. As you arrive, you'll be charmed by the inviting South Tempe atmosphere, known for its friendly community and beautiful desert landscapes. Enjoy nearby parks, walking trails, and recreational facilities that make this area ideal for outdoor enthusiasts. The vibrant dining and shopping options in the area provide convenience and variety, ensuring you'll have everything you need close to home. Step inside to experience a bright, open layout filled with natural light and lovely views of the sparkling pool. This thoughtfully designed home boasts a split floor plan, placing the primary suite and its attached bonus room away from the secondary bedrooms. This versatile bonus space can serve as an office, nursery, or workout area. Additionally, there's another bonus room near the entry, perfect for your needs. The expansive covered patio provides ample room for outdoor living and entertaining. With tasteful upgrades and unique character, this home offers qualities that are often hard to find in new constructions. Don't miss out on this exceptional opportunity to live in a thriving community!

16811 S 15th Avenue Phoenix, AZ 85045

$725,000
5 Beds
3.5 Baths
2,973 SqFt
Status Active
MLS # 6761114
Property Type Single Family Residence
Price Type --
Turn Key home shows like a model w/ all of the designer like features, from the beautiful accent walls, all neutral paint throughout and tasteful upgrades you will not be disappointed. Enter in from brand new wrought iron security door to open bright high ceiling foyer. It has plenty of space with 5 bedrooms, 3.5 baths, and an excellent layout for both family living and entertaining. The new and modernized kitchen, featuring quartz countertops, updated cabinets, and a farm sink with motion sensor faucet, adds to the designer touch, while the family room and backyard setup with a putting green, gazebo, and pool make it a perfect spot for gatherings. The master suite is a highlight, with a spacious, updated bathroom, walk-in tile shower, and large walk-in closet, adding a luxurious fee The additional 4 bedrooms, full hall bath and Jack-n-Jill bath make it ideal for a family, and the large flex/media room gives extra options for personalization. Newer AC units, pool filter, soft water system and EV charger are practical and forward-thinking, making this home truly move-in ready with minimal future updates required. Because this home is a relocation it has been inspected thoroughly. These inspections are provided to the buyer.

38065 N Cave Creek Road Unit 40 Cave Creek, AZ 85331

$725,000
3 Beds
3 Baths
2,272 SqFt
Status Active
MLS # 6765479
Property Type Townhouse
Price Type --
Experience the Southwest charm of Cave Creek.This Santa Fe-style townhouse is nestled at the rear of a tranquil, gated community in the heart of town. The two-story unit features a spacious great room complete with a cozy fireplace, a built-in bookcase, and a large bay window that floods the space with natural light. Additional highlights include plank tile flooring, plantation shutters, and fresh interior paint. The eat-in kitchen is equipped with granite countertops, stainless steel appliances, a stylish backsplash, white cabinetry, and recessed lighting. Rare double master bedrooms on split levels with exterior access to patios and decks. The large ensuite bathroom offers a dual sink vanity and storage galore. Each bedroom has plush carpeting, large windows and exterior access. The multi level rooftop deck provides breathtaking 360-degree views from every angle. Easy commute access, close to all amenities, endless outdoor activities and more. You will love it here!

3714 W Whitehawk Lane Anthem, AZ 85086

$725,000
4 Beds
3.5 Baths
3,264 SqFt
Status Active
MLS # 6769526
Property Type Single Family Residence
Price Type --
Remodeled to Perfection! Amazing Mountain Views, tucked in a Peaceful Pocket of Anthem, on a Generous N/S Lot. Big Rooms, Brimming with Appeal! 4 Bedrooms & 3.5 Baths, 1st Floor Guest Suite & Bath; Formal & Informal Spaces Designed w/Style & Comfort; Chef's Dream Kitchen w/Quartz C-Tops: Breakfast Bar & Center Island, Butler's Pantry, Professional Grade SS Appliances, Separate Eating Area/Casual Space; Plus Family Rm, Living & Dining Rm. Stunning Owner's Suite w/Luxury Spa Bath, Sitting Area, & Designer Closet. Large Loft (office), 2 More Guest Rooms & Bath on 2nd Level. Inviting Custom Entry, Wood-look Tile Flooring, Plantation Shutters, Custom Paint, Lighting, Tankless H2O Htr, + more. Laundry Rm, 1st Fl Powder Rm, Storage Space. Quick Access to I-17 Hwy, Restaurants & Shopping. Spacious Backyard w/Lrg Covered Patio, Newer Artificial Turf and Amazing Views. Plenty of room to add a private pool. Anthem is an Award-Winning Master Planned Community with incredible amenities: 60-acre Community Park, Catch & Release Lakes, Pickleball & Tennis Courts, Athletic & Fitness Activities, a Lap Pool, and Water Park. Make this your Home for the Holidays!

16510 N 92nd Street Unit 1043 Scottsdale, AZ 85260

$725,000
2 Beds
3 Baths
2,243 SqFt
Status Active Under Contract
MLS # 6179888
Property Type Townhouse
Price Type --
Phase II Now Open!! SOHO Scottsdale personifies the vibrant lifestyle of today's professional or entrepreneur with dual zoned homes for a true work/live lifestyle and is a collaboration between renowned architect Bing Hu and Catclar Investments. This new home has nearly 2,300SF of gorgeous living space with upscale finishes as standard! Two master bedrooms plus a large home office. Homes are green with smart home capabilities, Gigablast internet and attch'd 2 car garage. Prime location near a multitude of upscale shopping, dining and entertainment options including Kierland Commons, Scottsdale Quarter, TCP and views of Pool & McDowell Mountains. SOHO's contemporary design offers amenities such as a 5 star Italian Cuisine restaurant, fitness studio, pool, spa and FROGS PT Clinic and Bio Fit. BioFit was created to evaluate an individuals ability to move efficiently throughout their golf swing.

25634 N Cordova Lane Rio Verde, AZ 85263

$725,000
3 Beds
2.5 Baths
2,723 SqFt
Status Active Under Contract
MLS # 6695530
Property Type Single Family Residence
Price Type --
Discover the epitome of resort-style living in this meticulously maintained 3-bed, 2.5-bath home nestled within a vibrant adult community. Situated on a coveted golf course lot in a serene cul-de-sac, this residence boasts breathtaking Mazatzal and Four Peaks mountain views. Inside, a spacious great room with a beamed vaulted ceiling, tile floors, wet bar, and the fireplace offers an inviting retreat. The master bedroom features a walk-in closet, while outside, the flagstone tiled patio showcases a desert mural and panoramic vistas. Water features and an observation deck provide idyllic spots to savor morning coffee or soak in the Sonoran desert's majestic sunrises and sunsets. Community amenities include a clubhouse, tennis court, pool, spa, golf course, workout facility, and more!

1807 W Tombstone Trail Phoenix, AZ 85085

$725,000
4 Beds
3 Baths
2,200 SqFt
Status Active Under Contract
MLS # 6743969
Property Type Single Family Residence
Price Type --
Amazing Fireside gated community! Come see this spacious and beautiful single story home in the great Fireside community. This 4 bedroom, 3 bathroom home has gourmet kitchen, large kitchen island, new paint, coffered ceilings. Upgrades galore, a great open layout. Primary bedroom features a large walk in closet and on suite bathroom. Seller has made updates throughout. Beautiful view fence, covered patio, entertainers backyard. Spacious 3 car garage. Close to Fireside Community Center. Features include; resort amenities including swimming pools, spa, kids splash pad, rock climbing wall, gym, and more. Seller financing available.

11813 W Marguerite Avenue Avondale, AZ 85323

$725,000
5 Beds
3.5 Baths
3,158 SqFt
Status Active Under Contract
MLS # 6746842
Property Type Single Family Residence
Price Type --
Welcome to your dream home in Alamar surrounded by gorgeous mountain views! This stunning David Weekley residence boasts over $120k of interior upgrades, with an additional $155k invested in the front and backyard, creating a truly luxurious oasis. Step inside to discover an inviting open floor plan, adorned with tile flooring throughout- not an inch of carpet to be found. Vaulted ceilings create an airy atmosphere, complemented by plantation shutters throughout and ample windows for natural light. The heart of this home is the gourmet kitchen, featuring an oversized quartz island, wine fridge, hood, built in wall oven and microwave and gas cooktop. With 4 bedrooms a 5th room that can easily have a closet added for a 5th bedroom and an additional retreat/teen area, this split floor plan home offers versatility and potential for multi-generational living. Outside, indulge in your own backyard paradise, complete with an expansive pool featuring a large relaxing baja step, water feature, gas fire bowls, an in-floor cleaning system, and customizable lighting. Unwind in the spa under the stars, surrounded by lush flowered greenery, and artificial turf, evoking a private resort ambiance. Entertain in style on the extended travertine patio, equipped with a built-in gas BBQ and gas fire pit with seating area. The 2 car garage features additional insulation and ample overhead storage. Extended pavers offer 4 car driveway parking as well as an 8 foot side gate for your toys. This home is centrally located to the west valley and only minutes from the Loop 202 and I-10. Here you'll have a small town feel in your backyard, while being only 5 minutes from Phoenix Raceway, a short drive from Goodyear Ballpark and the Estrella Mountains for all your entertainment needs. The highly rated Laken Prep Academy is nestled right in the neighborhood for easy access to school as well. Additional upgrades to note: whole home water filtration and reverse osmosis, whole home built in security system, sunscreens at the back of the home, stone wall at the backyard to be used as a planter/garden.

22216 E Pecan Lane Queen Creek, AZ 85142

$725,000
3 Beds
3 Baths
2,482 SqFt
Status Active Under Contract
MLS # 6749916
Property Type Single Family Residence
Price Type --
This stunning 3-bed, 3-bath Queen Creek home offers 2,482 sq ft of modern living with standout features! Enjoy 10' ceilings, wood-look tile flooring, and wide sliding glass doors leading to a backyard oasis with a heated pool and built-in BBQ. The gourmet kitchen boasts quartz counters, gas stove, stainless steel appliances, and white cabinets with crown molding. The split floor plan provides privacy with a secondary master suite and a den convertible to a 4th bedroom. Other features include plantation shutters, sun screens on all windows, solar panels to reduce electric bills, cabinets and storage loft in the garage, water softener, pigeon proofing, and prewired surround sound. Surrounded by single-story homes provide great privacy. Near Queen Creek Olive Mill & Schnepf Farms Serene backyard is made for entertaining! A covered patio, attached pergolas, built-in BBQ, storage shed, and a refreshing pool complete the picture. Hurry & make this one-of-a-kind home yours now!

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