Epic Housing Shortage Being Reported

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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19821 W Medlock Drive Litchfield Park, AZ 85340

$724,999

4 Beds

3.5 Baths

2,297 SqFt

Status Active

MLS # 6769178

Property Type Single Family Residence

Price Type --

New AC unit, new roof, private casita, & a completely remodeled home on 1 acre! Not to mention this home has already appraised for $750,000 and has No HOA! Come and check it out today.

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11175 N Luckenbach Street Surprise, AZ 85388

$724,995

3 Beds

3 Baths

2,354 SqFt

Status Active

MLS # 6646968

Property Type Single Family Residence

Price Type --

This brand new Skybrook model is waiting for your family! Bring them out to Sterling Grove Golf and Country Club to discover the difference. This three bedroom three full bath home is ready for you to make it your own The enormous kitchen boasts name-brand appliances, upgraded countertops, and ample cabinet space. The casual dining area is the centerpiece of the first floor, with connectivity to the kitchen and beautiful views of the rear yard. A short walk, or golf cart ride away, you can enjoy all of the amenities Sterling Grove offers. With a resort style pool that rivals most hotels, two restaurants, workout facility, full service spa and more, Living in Sterling Grove is the lifestyle you've been looking for.

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20277 W Mulberry Drive Buckeye, AZ 85396

$724,990

4 Beds

2.5 Baths

2,713 SqFt

Status Active

MLS # 6716597

Property Type Single Family Residence

Price Type --

It's the Beautiful Granada with private courtyard has 4 bedrooms, 2.5 baths and 3 car garage. 12'x8' sliding glass door that leads out to the covered patio. Stainless steel gas appliance package with 36'' cooktop, wall oven, canopy hood. Sonoma Maple Linen-off white cabinets throughout the home with AZT Quartz Tawny countertops in the kitchen and on the enhanced kitchen island. Upgrade flooring includes Beaumont Olmo 7x24 plank tile in all areas of the home except for bedrooms and closets. Dual sinks in secondary bath, gas stub for future BBQ, dryer and soft water look. 8' tall garage door with openers, garage service door. Estimated completion late this year.

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1000 E Marigold Lane Tempe, AZ 85288

$724,990

3 Beds

2.5 Baths

1,671 SqFt

Status Active

MLS # 6756608

Property Type Single Family Residence

Price Type --

Welcome to this beautifully remodeled 3-bedroom, 2.5 bath home that seamlessly blends modern luxury with classic charm. Entering the home you will find a bright, open-concept layout, flooded with natural light, perfect for comfortable living and entertaining. The thoughtfully designed floor plan connects the gourmet kitchen featuring stainless steel appliances, quartz countertops, and ample cabinetry—with the inviting living area. The primary suite is a private haven, offering a spacious walk-in closet and an elegant ensuite bathroom, designed for relaxation and comfort. Outside, the backyard is your personal oasis—a sparkling pool and a meticulously landscaped yard. Located just minutes away from ASU and Old Town and offering tons of options for shopping, restaurants, and entertainment!

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22508 E Orchard Lane Queen Creek, AZ 85142

$724,990

4 Beds

3.5 Baths

2,911 SqFt

Status Active

MLS # 6773423

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender. The Majesty series is set in the desirable Harvest community within its own gated section. Conveniently located across from the pools, catch-and-release lake, and green park, it offers a serene escape while remaining near shopping and entertainment. The oversized kitchen, island, and pantry are perfect for hosting or simply enjoying extra space. A guest suite with a living area adds comfort and versatility. The inviting courtyard entry welcomes you home—don't miss this opportunity.

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2095 S Hillcrest Drive Camp Verde, AZ 86322

$724,900

3 Beds

2 Baths

1,783 SqFt

Status Active

MLS # 6768145

Property Type Single Family Residence

Price Type --

This is a Must See Move-In-Ready 3 bdrm 2 bath home that's been completely renovated with quality workmanship and top of the line appliances and finishes. All new stainless steel kitchen with a farm sink and a 6 burner stove that's sure to please any cook. There's plenty of Quartz countertops including an island. The cabinets have many custom conveniences.The main bath has new tile and a non slip tub! Master ensuite has a walk in marble and glass shower, double vanity and more. Spacious bedrooms with over size closets. Master bedroom has his and hers (2) closets. There's a bonus breezeway room, an attached 2 car garage and a storage/well house. New Roof. New HVAC. Plenty of room for RV/Boat,Horses, Chickens or ??? This 1.21 acre lot is located in the desirable Quarterhorse Ln area.

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3200 N 39th Street Unit 33 Phoenix, AZ 85018

$724,900

4 Beds

2.5 Baths

2,124 SqFt

Status Active

MLS # 6772932

Property Type Townhouse

Price Type --

Discover this stunning townhome located in the sought-after 85018 Arcadia zip code! This beautiful model home comes fully furnished, featuring stylish decor throughout. It has been lightly used, with the current resident primarily based in California. Upon entry, you'll find a convenient drop space for shoes, coats, and bags. The kitchen is a chef's dream, equipped with built-in Bosch appliances, quartz countertops, a chic backsplash, and built-in trash bins. The inviting living area offers abundant custom storage and opens to a beautifully paved patio through two sets of doors. Upstairs, you'll find a custom-built desk area and four spacious bedrooms, each uniquely designed by a professional. The master suite boasts elegant berber carpeting, custom finishes, a walk-in shower, a separate toilet, double sinks, and a generous walk-in closet. The community features a heated pool and spa, a small gated dog park, and is securely gated for your peace of mind.

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1857 Pine Cone Road Heber, AZ 85928

$724,900

2 Beds

2 Baths

1,900 SqFt

Status Active

MLS # 6770886

Property Type Single Family Residence

Price Type --

Perched on 2.35 acres in the heart of Heber-Overgaard, the Buckskin Artist Community offers a serene retreat in a park-like setting surrounded by tall pines. This charming cabin features a beautiful 2-bedroom, 2-bath home with an open loft, showcasing a knotty pine tongue-and-groove vaulted ceiling and walls throughout. The interior boasts peel pole log beams, chalet windows that frame the picturesque views, and a captivating stack stone wood-burning fireplace. The kitchen is equipped with stainless steel appliances and complemented by a kitchen island with counter-height seating. The log façade exterior is elegantly accented with exposed stack stone, while the ¾ wrap-around deck, featuring a screened-in section, invites relaxation amidst nature. An inviting hot tub provides a perfect spot to unwind, and the tastefully landscaped yard enhances the natural beauty. For convenience, there's a single-car attached garage with storage cabinets and a detached 1456 sq. ft. two-car garage with a workshop. Additionally, a 448 sq. ft. carport offers covered RV storage with an electric hookup. With a nominal HOA fee of $325 per year covering water and road maintenance, this property is ideally located near local services and national forest trails. Generator and firewood do not convey.

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4722 W Silva Drive New River, AZ 85087

$724,900

3 Beds

2 Baths

2,128 SqFt

Status Active

MLS # 6753676

Property Type Single Family Residence

Price Type --

RV AND BOATS ALLOWED ON PROPERTY! 30 MINUTES TO LAKE PLEASANT WITH BOAT IN THE WATER. This updated 3 bedroom 2 bath home with a 3 car garage and RV parking (80 ft concrete)! Located 20 minutes from Lake Pleasant! Kitchen features grey cabinets, granite counters, farmhouse sink, stainless steel appliances, subway tile backsplash, pantry and breakfast bar. Dinning area provides extra storage with built in serving cabinets and access to the back patio. Main bedroom has private entry to backyard. MUST SEE backyard in which you will want to entertain guests all year with ramada, heated pool (plus solar), spa, built in BBQ, sports court, mist sprinklers and putting green. Newer carpet & paint, epoxy garage floors, 220 amps outdoor RV charger, 220 amps electric car charger installed in garage.

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6272 E 16th Avenue Apache Junction, AZ 85119

$724,900

3 Beds

2 Baths

1,608 SqFt

Status Active

MLS # 6741475

Property Type Single Family Residence

Price Type --

Charming Desert Retreat with Stunning Superstition Mountain Views Nestled in the heart of the picturesque desert landscape, this exquisite property offers unparalleled views of the majestic Superstition Mountains. This home seamlessly blends comfort, style, and functionality, making it an ideal retreat for those seeking both luxury and the great outdoors. Key Features: Bedrooms: 3 spacious bedrooms providing ample space for relaxation and privacy. Additional Room: A versatile den/office, perfect for remote work or a cozy reading nook. Garages: A 4-car garage plus an additional RV garage, catering to all your storage and vehicle needs. Pool: A beautiful pool with panoramic mountain views, offering a serene and private oasis. Horse Property: Ideal for equestrian enthusiasts, providing ample space and facilities for horses. This property combines modern amenities with breathtaking natural beauty, making it a unique and highly desirable home. Whether you're enjoying a swim with a view, working from your den, or taking in the serene mountain vistas, this home promises a lifestyle of tranquility and luxury.

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21 Hummingbird Circle Sedona, AZ 86336

$724,900

2 Beds

2 Baths

1,653 SqFt

Status Active

MLS # 6759448

Property Type Single Family Residence

Price Type --

Discover this diamond in the rough, nestled in the coveted Chapel area of Sedona! Situated on a tranquil .31-acre lot at the end of a quiet cul-de-sac, this 1653 sq ft, 2-bedroom, 2-bathroom home offers immense potential as a peaceful retreat with magnificent red rock views. Light-filled and move-in ready, the home features easy-to-maintain tile floors, gas heating, evaporative cooling, and an irrigation system for the lush landscaping that surrounds the property. The fully fenced backyard is a private oasis with mature trees, abundant patios, and ample space for outdoor living—perfect for year-round enjoyment. Picture yourself relaxing in a jacuzzi, with the stunning sunset over Cathedral Rock as your backdrop. The spacious master bedroom includes a cozy fireplace, a walk-in closet, and opens into a bright sunroom with French doors that showcase breathtaking views. A separate room provides the ideal space for a private office or den, while the in-law setup adds versatility to the home. This property is a true hidden gem, offering the perfect blend of tranquility and potential for those looking to add their personal touch. With a bit of polish, this energy-efficient sanctuary could become a stunning Sedona treasure. Don't miss the opportunity to make this unique property your own!

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29449 N 130th Drive Peoria, AZ 85383

$724,900

3 Beds

2 Baths

2,111 SqFt

Status Active

MLS # 6745133

Property Type Single Family Residence

Price Type --

The search is finally over! This charming home features a 2-car garage, paver driveway, striking stone facade, and low-maintenance desert landscape. Venture into a living room with high ceilings, clerestory windows, a neutral palette, tile flooring, and a cozy fireplace. The kitchen comes with granite counters, plentiful wood cabinetry, recessed lighting, built-in appliances, a walk-in pantry, and a large island with a breakfast bar. The spacious main bedroom offers an ensuite with dual vanities, patio access, and his and hers closets. You'll also find a casita with separate access, perfect for visiting loved ones, game room, hobby room, or office. The backyard boasts a covered patio, an exterior fireplace, a built-in BBQ, and a sparkling pool. Make this gem yours today!

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