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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4067 S White Drive Chandler, AZ 85249

$720,000
3 Beds
2 Baths
2,363 SqFt
Status Active
MLS # 6769766
Property Type Single Family Residence
Price Type --
Highly sought-after lake community of Old Stone Ranch! This stunning home features 3 bd, 2.5 bath, den, plus bonus room. The gourmet kitchen is a chef's dream, featuring granite countertops, a large island with ample storage, and a breakfast bar. The open layout flows seamlessly into the living area, providing the perfect space for gatherings and family time. The spacious primary suite is your personal retreat, featuring a separate tub and shower, double sinks, and a walk-in closet. Two additional bedrooms, along with a versatile den and bonus room, offer flexibility for a home office, gym, or guest space. Oversized backyard, complete with sparkling pool/spa, large covered patio, built in BBQ, and low-maintenance turf are ideal for outdoor entertaining. Three car garage provides ample storage and parking. Stunning community features include greenbelts, walking paths, picket fences, waterfalls, just to name a few. Prime location near excellent parks, shopping, dining, and schools are additional highlights to this wonderful home. Don't miss the chance to make this exceptional home in a desirable lake community your own.

38938 State Route 373 -- Greer, AZ 85927

$720,000
3 Beds
2 Baths
2,800 SqFt
Status Active
MLS # 6766456
Property Type Single Family Residence
Price Type --
Embrace the magic of all four seasons in the charming mountain town of Greer! Soak in the brilliant fall colors of October, wander through serene, snow-covered mountains in winter, and enjoy crisp spring and summer days beneath the pines—perfect for escaping the heat. Whether you're a full-time or part-time resident, there is always something to do no matter the time of year. Spring and summer are great for fishing, hiking, bike riding, exploring and campfires. Skiing enthusiasts will love being just 30 minutes from Sunrise Park Resort, where you can hit the slopes for a day of fun before heading home to relax in your own private sauna. In the summer the resort offers mountain biking, tubing, rock climbing, and more! This remarkable 3 bed/2 bath cabin, with 2800 sq feet of total living space is conveniently located right off State Route 373, and a rare opportunity to own a slice of Greer's history. Built/owned by James Emerson of Emerson Construction, who left his mark across Greer with structures like Fire Stations 1 & 2, the post office, community center, and countless cabins; this property radiates warmth, and craftsmanship. Beautiful woodwork throughout the cabin and a cozy wood stove complete the inviting atmosphere. Panoramic views, fresh mountain air, and clear and vivid night skies, make this a true mountain retreat. Zoned as both residential and commercial, this property has endless possibilities as a private escape or for additional revenue. Horseback riding for tourists, or adding a guest house for an Airbnb, are just a couple of ideas for this fantastic location. Additional features: Large barn with concrete floor; 5 stalls; 2 pastures; 3 storage sheds.

971 Kohners Ridge Drive Unit 2 Happy Jack, AZ 86024

$720,000
3 Beds
2.5 Baths
2,152 SqFt
Status Active
MLS # 6766442
Property Type Single Family Residence
Price Type --
Just listed! 971 Kohners Ridge Dr. On 2 acres, in Starlight PInes Ranchettes A charming, chalet ,with mountain views of Clear Creek Canyon. The great room, floor plan, features a stone fireplace, handsome wooden floors and Tongue and Groove Pine ceilings. The high end kitchen Ohas stainless steel appliances, granite counter tops and a large island. The huge and unique separate formal dining room is facing the forested lot.. Two bedrooms and abath are downstairs. Master bedroom with EnSuite bathroom and closet are upstairs. The low maintenance composite decking with wrought iron railing is the length of the cabin. A 2nd deck is at the back of cabin. Dog lovers will appreciate the wrought iron enclosed Dog run .Oversized 2 car garage, built in cabinets and workshop area. Sold furnish

1814 N Waverly -- Mesa, AZ 85207

$720,000
3 Beds
3 Baths
2,056 SqFt
Status Active
MLS # 6770383
Property Type Single Family Residence
Price Type --
Welcome to Valencia at Mountain Bridge, an upscale gated community in northeast Mesa! This Arizona gem offers a premium location with no neighbors in front or back and a single-story split floor plan. Inside, discover 18'' tile flooring, designer window treatments, granite countertops, and stainless steel appliances, including a gas range. This move-in ready home has 3 bedrooms, 2 with ensuite bathrooms and walk-in closets. The 3rd bedroom features double doors and can serve as a den. Enjoy low maintenance yards and a spacious covered back patio. The 3-car garage has epoxy floors and is pre-wired for an EV charger. The nearby Owner's Club offers a fitness studio, (heated) pool, spa, tennis, pickleball, and more. Plus, enjoy community events, live music, block parties, and clubs & groups.

12895 N 95th Way Scottsdale, AZ 85260

$720,000
3 Beds
2 Baths
1,610 SqFt
Status Active
MLS # 6769606
Property Type Single Family Residence
Price Type --
This beautifully updated home is located in the desirable and quiet Sweetwater Ranch neighborhood. This well-maintained property greets you with high ceilings, plenty of natural light, and a cozy fireplace. Recent upgrades include tile and carpet throughout (installed in 2021). The remodeled kitchen includes white cabinets, granite countertops, and stainless-steel appliances (2021). Both bathrooms have been updated with white cabinetry, granite counters, and stylish shower tiles. Additional upgrades include a new A/C system (2019) and water heater (2023). The backyard is ideal for relaxing or entertaining. Front yard landscaping is managed by the HOA, and the exterior was freshly painted in April 2024. Enjoy community amenities like a heated pool/spa, tennis courts, and bike paths.

4438 N 27th Street Unit 11 Phoenix, AZ 85016

$720,000
3 Beds
2.5 Baths
2,154 SqFt
Status Active
MLS # 6770243
Property Type Townhouse
Price Type --
Welcome to Biltmore Living at The Rosedale Residences - where lifestyle, location, and luxury meet. Located in the highly desirable Biltmore/Arcadia Corridor, home to Phoenix's best dining, shopping, and outdoor living. This versatile home in a gated community is ideal as either a primary residence or a lock-and-leave. Located within an exclusive community of 27 properties offering spectacular downtown and mountain views, gated resort-style pool, heated spa, and a gazebo BBQ area with outdoor dining. Private outdoor patio brings you into this gorgeous home with 11' ceilings, luxury wood-plank vinyl flooring, and high-end finishes throughout! 3 spacious bedrooms with 2 en-suite bathrooms, Kohler finishes, expansive vanities, shower/tub options, and custom California Closets make this an ideal setup! Powder bath with beautiful mosaic tile flooring has easy access to the spacious great room. Kitchen comes complete with quartz counters, espresso cabinets, NEW double oven with separate range hood, Walk-in pantry, and peaceful views from the multi-slide window. Surround sound through the dining and living room for your enjoyment. Sound attenuated double walls between all homes, fully insulated, dedicated 2 car garage with direct entry, LOW HERS rating, and multi-zoned HVAC system afford privacy and efficiency. The residents are comprised of majority owners with a respect for peace and quiet. Hard to find all of these features in the area for the price!

6226 E Betty Elyse Lane Scottsdale, AZ 85254

$720,000
3 Beds
2 Baths
1,521 SqFt
Status Active
MLS # 6772644
Property Type Single Family Residence
Price Type --
Stunning Kierland Area Updated Home! Nestled in a serene cul-de-sac, this beautiful 3-bedroom, 2-bathroom home is ready for its new owners. The main living area and kitchen feature vaulted ceilings, creating an open and airy atmosphere. The elegant kitchen showcases white quartz countertops, maple cabinets with under-counter lighting, and stainless steel appliances. This home features upgraded porcelain plank flooring and 5-inch baseboard molding throughout. Plantation shutters are installed on the front windows, and Levolor blinds are installed on the back for privacy. The interior and exterior were freshly painted in 2020. A new Bosch 18 SEER variable speed AC with an Ecobee thermostat was installed in 2024. Outside, you'll find a nicely groomed private yard with an artificial grass play area, perfect for relaxation and entertainment. This exquisite home is sure to impress even the most discerning buyers.

3135 N 34th Street Phoenix, AZ 85018

$720,000
4 Beds
3 Baths
1,670 SqFt
Status Active
MLS # 6776317
Property Type Single Family Residence
Price Type --
Located on a newly landscaped, low maintenance corner lot with 2 RV gates, this extensively remodeled 1950 home in the heart of Phoenix (85018) features a unique layout that includes an attached 1 bed, 1 bath in-law suite with a separate front entrance, backyard access, and a door that connects it to the rest of the home. With a total of 4 bedrooms, 3 baths, 2 kitchens, and 2 living areas, the floorplan offers numerous possible uses. The kitchens have stainless appliances, quartz counters, and white shaker cabs. The primary bedroom has a computer nook, spacious walk-in closet, private bath, and an exit to the patio/backyard. Relax on the large covered front porch or covered patio w 2 ceiling fans. Seller is providing AHS Home Warranty worth $450. Several years in the making, don't miss.

8767 W Villa Hermosa -- Peoria, AZ 85383

$720,000
3 Beds
2 Baths
1,895 SqFt
Status Active
MLS # 6777871
Property Type Single Family Residence
Price Type --
Discover your dream home in this stunning single-level custom residence, tucked away at the base of a cul-de-sac on over half an acre with no HOA! Perfectly tailored for all your recreational needs, this property offers expansive space, water softener and RO & new efficient air ducting. Lovingly remodeled, the kitchen features granite countertops, real wood Kemper natural maple cabinets w/ pullouts, & built-in pantry. The luxurious primary bath boasts an over-height alder wood vanity with granite countertops, dual Kohler sinks, bronze fixtures, custom mirrors, a spacious custom slate walk-in shower with dual showerheads & extensive storage options. Relax in the grand primary suite with a massive walk-in closet complete with custom built-ins. Plus a private office in the primary bedroom. The upgraded hall bath showcases a hickory vanity, granite countertops, a Kohler sink, and a custom shower door. Additional home highlights include a Trane A/C unit, oak wood shutters, recessed lighting, all-tile flooring, and spacious secondary bedrooms with closet organizers. Functional upgrades include a full laundry room with cabinets and utility sink, dual-pane windows & garage cabinetry. Outside, enjoy a full-length covered patio, slab parking for up to six cars, a half-circle driveway, an RV gate, and ample side yard space for your toys. The backyard also features a 2 sheds and citrus trees.

15226 N 10th Street Phoenix, AZ 85022

$720,000
3 Beds
2 Baths
2,191 SqFt
Status Active
MLS # 6778995
Property Type Single Family Residence
Price Type --
Lookout Mountain/Moon Valley Location - Hike the Mountain or Walk to the Shops on 7th St! IDEAL! - You are Welcomed by capturing brightness & light through the Large Picture Windows into the Backyard - The House is Full of Charm - Great Quiet Neighborhood - Scenic & Sunset Views from Full Covered Patio on West & Mountain Setting to East - Open Floor Plan - New Fully Tiled Throughout Floor Plan in 2024 - U-shaped Kitchen w/Corian Countertops & Honey Colored Cabinets - Cozy Breakfast Nook w/Counters & Cabinets - Vaulted Ceiling in Living Room w/Gas Fireplace - Large Master Bdrm w/Cedar Lined Walk-In Closet, Double Sink & Large Step-In Glass Block Shower - Paver Driveway & Tiled Front Courtyard - All Appliances Included - Seller offering $450 credit toward Home Warranty - NO HOA

27985 N 92nd Avenue Peoria, AZ 85383

$720,000
4 Beds
3.5 Baths
2,928 SqFt
Status Active Under Contract
MLS # 6757613
Property Type Single Family Residence
Price Type --
DON'T MISS THIS RARE 4 BEDROOM, 3.5 BATH NEWER RESIDENCE BUILT BY MATTAMY HOMES IN BEAUTIFUL PRADERA AT WESTWING MOUNTAIN! THIS TIMELESS SPANISH ARCHITECTURE WELCOMES YOU INTO AN OPEN FLOOR PLAN WITH MODERN FINISHES. A GOURMET KITCHEN W/GAS COOKING ANCHORS THIS GREAT ROOM WITH CRISP WHITE CABINETRY AND SLEEK COUNTERTOPS. SEVERAL SEPARATE WINGS AFFORD PRIVACY FOR ALL RESIDENTS. THIS IS ONE OF THE BETTER VALUE-ADD HOMES JUST COMING TO MARKET IN THIS GATED COMMUNITY WHICH OFFERS A PLAYGROUND, PARK AREA, WALKING PATHS AND MAJESTIC MOUNTAIN VIEWS. ALL OF WESTWING MOUNTAIN IS NEAR THE LATEST AND GREATEST RETAIL AS WELL, FOR SHOPPING AND DINING. WITH 2019 CONSTRUCTION AND FRESH INTERIOR PAINT, IT'S MOVE IN READY! ENJOY A LARGE SEPARATE DINING ROOM OR IT COULD BE AN OFFICE, GAME ROOM, ETC.

845 W Hermosa Drive Wickenburg, AZ 85390

$720,000 - 3Br/2Ba -  for Sale in Hermosa Ranches, Wickenburg
New
$720,000
3 Beds
2 Baths
1,765 SqFt
Status Active
MLS # 6779988
Property Type Single Family Residence
Price Type --
Come check out this amazing CUSTOM home in the beautiful Hermosa community!!! This 2022 Santa Barbara style home features countless upgrades and immense attention to detail!! 2 car garage plus a RV Garage with extra PARKING, and room for TOYS! Immaculately landscaped and just minutes from downtown Wickenburg. The color scheme and design of this home is warm, modern and done in great taste. Kitchen has stunning quartz counter-tops, custom cabinets. Fire place with rock accent in living room gives off warmth throughout the home. Truly a must see home with views.

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