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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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.

669 Star Rock Drive Prescott, AZ 86301

$720,000
5 Beds
4 Baths
2,763 SqFt
Status Active
MLS # 6775553
Property Type Single Family Residence
Price Type --
This unique property features a 2284sf main floor PLUS a private 478sf studio suite with bedroom, living area, full bath and kitchenette totalling 2763 sq ft! As you walk through this home, notice the bamboo wood floors, vaulted ceilings, large picture windows to take in some beautiful views. The main floor features an oversize living room with gas fireplace plus a separate family room/den right off the kitchen and a for easy kitchen access, plus an independent dining room! 4 bedrooms, 3 baths, a large laundry room and a 2 car attached garage! Bedroom 4 has minisplit heat and cooling. Trex decking on both the front and back decks for nearly maintenance free outdoor living while enjoying the beautiful Prescott forest views. There is so much this home has to offer, you have to see it!

20476 N 88th Lane Peoria, AZ 85382

$720,000
6 Beds
3.5 Baths
3,590 SqFt
Status Active
MLS # 6674708
Property Type Single Family Residence
Price Type --
Stunning, updated home in North Peoria! This home sits on a huge lot and features neutral paint, new carpet, and bright and open main living area. The kitchen has beautiful granite counters, tiled backsplash, and stainless steel appliances. The main level features one bedroom and the primary suite which has a huge closet, and highly upgraded en-suite bath with granite counters, dual sinks, and tiled walk-in shower. The second level features a spacious loft, and four other secondary bedrooms. The backyard has a sparkling pool, spa, double gate, large covered patio, fireplace, and grassy area. Located in a convenient location close to great schools, parks, shopping, and restaurants.

2417 E Yucca Street Phoenix, AZ 85028

$720,000
4 Beds
2 Baths
2,628 SqFt
Status Active
MLS # 6707413
Property Type Single Family Residence
Price Type --
Fabulous opportunity at a terrific location! Your own TLC will update this property - a little bit of fix up will go a long way! This home has 4 spacious bedrooms, a great room and formal living room, 2 dining areas and plenty of storage. The flooring style includes engineered walnut wood floors, carpet and title. The kitchen cabinets were refaced and are in good condition. The dual pane windows are in good condition. The backyard has 2 patio spaces, a pool with a 1yr old multi speed pump, a privacy wall between neighbors and beautiful mature vegetation. No HOA; close to everything; mountain views - just to name a few benefits.

3342 E Mercer Lane Phoenix, AZ 85028

$720,000
4 Beds
2 Baths
2,001 SqFt
Status Active
MLS # 6729601
Property Type Single Family Residence
Price Type --
Beautiful block home near Phoenix Mtn Preserve with pool ready for your family. Corner lot with spacious backyard. Open living area with roman shades, custom wood valance and lots of natural light. New porcelain wood-look tile flooring throughout. White kitchen cabinets with soft close doors, quartz countertop, cobalt under-mount sink, black stainless appliances. Master bath has a custom tiled shower with glass door, solid surface counter. Dual pane windows throughout. Backyard has a large covered patio, big open area with synthetic grass. Quiet neighborhood but close to 51, retail, dining and entertainment. Seller is a licensed Realtor in State of Arizona - Owner Agent.

21147 W Hillcrest Boulevard Buckeye, AZ 85396

$720,000
3 Beds
3 Baths
2,519 SqFt
Status Active
MLS # 6747757
Property Type Single Family Residence
Price Type --
Welcome to your dream home in Verrado! This exquisite single-level residence, featuring custom finishes throughout, offers both elegance & functionality. With 3 spacious bedrooms, a versatile den, & 3 luxurious bathrooms, this home is designed for comfort & style. The inviting gourmet kitchen boasts top-of-the-line appliances, granite counters, a gas stove & giant walk-in pantry. The open living areas are enhanced by 12-foot ceilings & stylish plantation shutters, adding a touch of sophistication & maximizing natural light. The split master bedroom suite provides ultimate privacy, with a spa-like master bath showcasing his-&-her sinks, a large hidden step-in shower, & a generous walk-in closet. Step outside to discover a no-maintenance backyard designed for relaxation & enjoyment... Welcome to your dream home in Verrado! This exquisite single-level residence, featuring custom finishes throughout, offers both elegance & functionality. With 3 spacious bedrooms, a versatile den, & 3 luxurious bathrooms, this home is designed for comfort & style. The inviting gourmet kitchen boasts top-of-the-line appliances, granite counters, a gas stove & giant walk-in pantry. The open living areas are enhanced by 12-foot ceilings & stylish plantation shutters, adding a touch of sophistication & maximizing natural light. The split master bedroom suite provides ultimate privacy, with a spa-like master bathroom showcasing his-&-her sinks, a huge tiled snail shower, & a generous walk-in closet. Step outside to discover a no-maintenance backyard designed for relaxation & enjoyment. Featuring lush turf, a raised deck , & hot tub readiness with pre-installed electrical, this space is perfect for both entertaining & unwinding. The backyard is also plumbed for gas that feeds the resort style fire feature and BBQ, making outdoor cooking a breeze. Enjoy breathtaking views & an unparalleled location with a private park right across the street & sought-after hiking trails, Victory stairs, and Victory Golf course just a short walk away. The home is in the Highlands area that is at the base of the White Tank Mountains. Verrado has 3 pools, newly remodel Gym and several community activities like the weekly farmers market for residents. Additionally, this property offers a unique financial benefit: an assumable VA loan, providing an excellent opportunity for those qualified buyers. Come see this home today and make it yours!

9389 E Corrine Drive Scottsdale, AZ 85260

$720,000
3 Beds
2 Baths
1,780 SqFt
Status Active
MLS # 6746133
Property Type Single Family Residence
Price Type --
Experience unparalleled luxury in this meticulously remodeled 3-bedroom, 2-bathroom home nestled in Scottsdale's most sought-after neighborhood on a massive cul-de-sac lot. Every inch of this residence exudes elegance and modern sophistication. The kitchen is a true showpiece, featuring pristine white shaker cabinetry and sleek quartz countertops that create a perfect setting for culinary creativity and entertaining guests. The spa-like bathrooms are designed with indulgence in mind, offering expansive walk-in showers and exquisite attention to every detail. The allure of this home extends outdoors, where you'll find a spacious front courtyard adorned with lush greenery and mature landscaping—ideal for peaceful mornings or evening relaxation. Step into your private backyard oasis, complete with a serene spa where you can unwind and rejuvenate in utter tranquility. This home seamlessly blends style, comfort, and functionality, making it an ideal choice whether you're searching for your forever home or a wise investment. I'm excited to introduce you to this Scottsdale gem that truly has it all. Don't miss your chance to make it yours!

1431 S Wayne Drive Chandler, AZ 85286

$720,000
4 Beds
3 Baths
2,669 SqFt
Status Active
MLS # 6753818
Property Type Single Family Residence
Price Type --
The search is finally over! Take a look at this gorgeous 4 bed, 3 bath residence showcasing spacious 3-car garage in Arizona Estates! Inside, you will find a bright living/dining area featuring bountiful natural light, soothing palette, wood-look floors, & recessed lighting. The stunning kitchen boasts a plethora of white shaker cabinets, stylish light fixtures, granite counters/backsplash, black SS appliances, a walk-in pantry, & a peninsula with a breakfast bar. Fabulous loft is perfect for an entertainment area! Main bedroom enjoys a lavish ensuite with dual sinks, soaking tub, & a walk-in closet. Spend relaxing afternoons in the wonderful backyard with extended seating area, green grass, & endless blue skies. You must see it! Owned Solar! The search is finally over! Take a look at this gorgeous 4 bed, 3 bath residence showcasing spacious 3-car garage in Arizona Estates! Inside, you will find a bright living/dining area featuring bountiful natural light, soothing palette, wood-look floors, & recessed lighting. The stunning kitchen boasts a plethora of white shaker cabinets, stylish light fixtures, granite counters/backsplash, black SS appliances, a walk-in pantry, & a peninsula with a breakfast bar. Fabulous loft is perfect for an entertainment area! Main bedroom enjoys a lavish ensuite with dual sinks, soaking tub, & a walk-in closet. Spend relaxing afternoons in the wonderful backyard with extended seating area, green grass, & endless blue skies. You must see it! Owned Solar!1

21984 N 97th Glen Peoria, AZ 85383

$720,000
4 Beds
4 Baths
3,286 SqFt
Status Active
MLS # 6755348
Property Type Single Family Residence
Price Type --
Nestled in the highly sought-after neighborhood of The Meadows, this stunning home offers luxury and convenience. The gourmet kitchen features a massive island, professional-grade refrigerator, gas stove, double ovens, granite countertops, double-stacked cabinets, and a walk-in pantry—perfect for the home chef. Situated on a prime corner lot, just steps from the community center and pool, the backyard is an entertainer's dream with a built-in BBQ, outdoor fireplace, pool, spa, misters, and a serene water fountain. The primary suite, located on the first floor, boasts a spacious bathroom with a wet room, freestanding tub, shower, and an oversized closet with custom built-ins. The home offers flexible living spaces, including a den, loft, office, and two laundry roomsone on each floor. Jack-and-Jill bedrooms and a split secondary bedroom provide privacy and functionality. Located near Lake Pleasant, shopping, restaurants, schools, the public library, and scenic hiking and biking trails, this home combines luxury living with the best of neighborhood amenities.

24728 N 72nd Place Scottsdale, AZ 85255

$720,000
3 Beds
2.5 Baths
1,810 SqFt
Status Active
MLS # 6757884
Property Type Single Family Residence
Price Type --
**PRICED TO SELL** WELCOME! You'll love this recently updated home with new wood floors, updated bathrooms, beautiful kitchen with tons of counter space... plenty of room for multiple chefs or just to spread out. This home is light, bright and spacious! Primary bedroom is generously sized and has a luscious ensuite bathroom with dual sinks and a large walk in closet. Shared Jack and Jill bathroom for bedrooms 2 & 3 with dual sinks. Relax or entertain in your beautiful, low maintenance back yard with built-in barbecue, fireplace, and sparkling pool. Commuting couldn't be easier with it's easy, quick proximity to Scottsdale Rd and the 101. What's not to love? Don't wait.. come and see this home today!

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