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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24815 N 106th Drive Peoria, AZ 85383

$705,000
4 Beds
3 Baths
2,725 SqFt
Status Active Under Contract
MLS # 6736237
Property Type Single Family Residence
Price Type --
A beautiful 4 bed, 3 bath residence in Tierra Del Rio is now on the market! Nestled on a premium cul-de-sac corner lot and featuring a 3 car tandem garage, low-care front yard, and an RV gate, it's sure to be the home for you! SOLAR for savings. Discover a spacious open floor plan w/elegant wood-look flooring, dazzling light fixtures, and trending palette throughout. The chef's kitchen is comprised of espresso cabinetry w/crown moulding, a pantry, granite counters, stylish backsplash, stainless steel appliances, and an island complete w/a breakfast bar. Upstairs you'll find a cozy loft w/soft carpet, where you can spend a relaxing Sunday afternoon! The primary bedroom boasts a walk-in closet and a private ensuite w/dual sinks. Don't forget about the cozy open den, ideal for a lounge area. Finally, the expansive backyard includes a covered patio, natural turf, pavers, a lovely pergola, and a fenced pool! What are you waiting for? Act now!

7530 W Honeysuckle Drive Peoria, AZ 85383

$704,990 - 4Br/3Ba -  for Sale in Aloravita South Parcel 8b, Peoria
New
$704,990
4 Beds
3 Baths
2,375 SqFt
Status Active
MLS # 6783394
Property Type Single Family Residence
Price Type --
Special Financing Available!!!!!!!!!!! This single-story home features a central open design with patio access for easy living and entertaining. The luxe owner's suite is situated toward the back for privacy, while the secondary bedrooms feature toward the entrance—one of which boasts a separate flex space perfect for independent residents. A 3-car garage provides additional storage space.

10789 W Yearling Road Peoria, AZ 85383

$704,900
5 Beds
4 Baths
2,909 SqFt
Status Active
MLS # 6718312
Property Type Single Family Residence
Price Type --
Welcome to your dream home in Peoria! This stunning 2,909 square foot residence offers a perfect blend of elegance and functionality. Step inside to be greeted by soaring vaulted ceilings, tile floors, and beautiful granite countertops, enhancing the spacious and modern feel of this home. With five generously sized bedrooms, an office, and a loft, there is plenty of room for everyone. Including a secondary bedroom and full bath on the ground floor, perfect for guests! Outside, the backyard oasis features a sparkling pool and low-maintenance artificial turf, ideal for relaxation and entertaining. The property also boasts solar panels, making it both eco-friendly and cost-efficient. Backing up to a serene wash and with only one neighboring house, this home offers exceptional privacy. paved covered patio or hangout on the grass lawn before cooling off in the large pool that includes a basketball hoop for lots fun! This home also includes leased solar. This property is also a short drive from plenty of restaurants, activities, grocery stores, shopping and golf courses. This property will go fast!

21715 E Bonanza Way Queen Creek, AZ 85142

$702,995
3 Beds
3 Baths
2,630 SqFt
Status Active
MLS # 6706593
Property Type Single Family Residence
Price Type --
Welcome to Light Sky Ranch! Ease and elegant design blend beautifully in the ranch-style Pomona plan. An inviting great room is at the heart of the open layout, adjacent to a dining nook and a kitchen showcasing a gourmet kitchen, large pantry and a center island. The impressive owner's suite offers a walk-in closet and a private bath with double vanities and an elegant walk-in shower. An additional bedroom with a full bath, and a central study. An extensive Guest Suitewith a private entrance rounds out the floor plan. Outside, a covered patio, a 2-car garage and a 1-car side-turn garage offers ample storage for vehicles, outdoor gear, and more. With amenities such as a tankless water heater for efficiency and a charming paver driveway, this home seamlessly blends convenience with sophistication

21665 E Roundup Way Queen Creek, AZ 85142

$701,995
3 Beds
2.5 Baths
2,890 SqFt
Status Active
MLS # 6702773
Property Type Single Family Residence
Price Type --
Welcome to Light Sky Ranch and the Pearce plan boasts a smartly designed layout, with the main floor featuring a spacious great room and an eye-catching kitchen with a built-in pantry, center island and adjacent dining room with covered patio access. A powder room, flex room with storage space and a mudroom provide added convenience. The second floor offers a laundry room, a large loft and three bedrooms, including a relaxing primary suite with a private bath and expansive walk-in closet. In addition to a 2-car garage, you'll also love the possibilities that come with a 40' attached RV garage! Options include the gourmet kitchen feature and deluxe master bathroom upgrades. With additional amenities like a tankless water heater for efficiency and a charming paver driveway, this home harmoniously blends convenience and sophistication.

13528 W Phacelia Lane Peoria, AZ 85383

$701,412
3 Beds
2.5 Baths
2,668 SqFt
Status Active
MLS # 6740310
Property Type Single Family Residence
Price Type --

35571 N Tonto Road San Tan Valley, AZ 85144

$700,900
5 Beds
3.5 Baths
3,204 SqFt
Status Active
MLS # 6666033
Property Type Single Family Residence
Price Type --
Beautifully Landscaped Master Planned Community by Fulton Homes. Located within minutes of major shopping, restaurants, and freeways. Promenade is at the base of the San Tan Mountains. There are Six Parks throughout the community, one of which is an Aquatic Center with a 7,400 square foot pool. Full basketball and sand volley ball courts. Bocce ball court, pickle ball court, and corn hole are available. Ramada's, Tot Lots, BBQ's, an entry waterfall, and acres of landscaped and grass areas make Promenade your Oasis in the Desert. We look forward to meeting you soon.

13312 S 331st Avenue Arlington, AZ 85322

$700,000
2 Beds
1 Bath
973 SqFt
Status Active
MLS # 6717388
Property Type Single Family Residence
Price Type --
Charming 2-bedroom residence in Arlington is now for sale! Nestled on an oversized 2.9-acre lot with a corral for horse keeping, this is sure to be the home for you! Inside, you'll find perfect-sized living and dining areas. The large kitchen provides a breakfast bar. Both bedrooms have closets for convenience. Don't miss the spacious Arizona room, ideal for hosting lively gatherings without worrying about the weather. This fully fenced property offers carport parking, stalls, and storage sheds. What are you waiting for? Act now!

6504 N 14th Place Phoenix, AZ 85014

$700,000
4 Beds
2.5 Baths
2,046 SqFt
Status Active
MLS # 6780594
Property Type Single Family Residence
Price Type --
Gorgeous, extensively remodeled four bedroom home located in the heart of North Central Phoenix! This immaculate residence has been completely upgraded with stylish, high-quality finishes throughout. Step inside to find soaring ceilings, elegant wood-look tile flooring, and abundant natural light that flows through every room. Thoughtful touches like plant shelving, recessed lighting, and custom plantation shutters add to the charm.The spacious eat-in kitchen is perfect for entertaining, featuring quartz countertops, stainless steel appliances, a beautiful tile backsplash, and a large island with breakfast bar. The sunny primary retreat offers a private ensuite with stunning park-like views to the West, custom quartzite countertops, a walk-in shower, and a generous walk-in closet. Over the past four years, nearly every surface has been upgraded. The home includes a Samsung washer, dryer, stove, microwave, refrigerator, and dishwasher, as well as new tile flooring throughout. Custom steel security doors, new baseboards, recessed lighting fixtures, and fresh paint inside and out. Additional features include new Pella energy-efficient windows in 2024, ceiling fans in every room, custom cabinetry in the garage, new AC and tankless water heater in 2022, and epoxy garage flooring. Outside, the home boasts artificial turf, updated landscaping with lighting, and stucco wall exterior fencing for a low-maintenance, polished look. The community offers a sparkling pool, spa, green spaces, and is located in an ideal North Central Phoenix neighborhood, close to the 51, Biltmore, Arcadia, and a wide variety of shopping, dining, and nightlife. Located in the highly regarded Madison School District, with beautiful sunset views among mature trees, this home provides the perfect blend of luxury and convenience. This exceptional home won't last long, sodon't miss your chance to experience it for yourself!

4335 E Clifton Avenue Gilbert, AZ 85295

$700,000
3 Beds
3 Baths
1,891 SqFt
Status Active
MLS # 6780303
Property Type Single Family Residence
Price Type --
This home has it all—modern upgrades, energy efficiency, and exceptional style. It looks and feels like a model home! When it was built, the sellers put a lot of thought into the energy features and the aesthetics. ($90K in upgrades with the builder) Step inside to a spacious great room with a 16-foot atrium glass door filling the space with natural light and leading to an incredible backyard oasis. The upgraded gourmet kitchen is a chef's dream, featuring luxurious split-color cabinets, quartz countertops, and GE matte black cafe appliances, adding both elegance and functionality. The large island, farm sink, and pantry ensure you have everything you need to entertain in style. Tray ceilings elevate the main living areas, adding architectural interest throughout. The master bath is designed for relaxation, featuring an upgraded shower, dual sinks, and tasteful finishes. Plantation shutters offer timeless charm and privacy, while the DuPure reverse osmosis water filtration system and tankless water heater provide convenience and efficiency. Window throughout are dual-pane Low-E for comfort and savings, complemented by an energy-efficient SEER 16 A/C unit. The outdoor space is a showstopper. The backyard was thoughtfully designed just two years ago with a $100,000 investment in a pool with in-floor cleaners, artificial turf, and pavers. A covered patio offers shade, making this low-maintenance backyard perfect for relaxation and gatherings. This exceptional property is a must-see to fully appreciate all its premium features!

19312 W Colter Street Litchfield Park, AZ 85340

$700,000 - 4Br/3Ba -  for Sale in Jackrabbit Estates, Litchfield Park
New
$700,000
4 Beds
2.5 Baths
2,830 SqFt
Status Active
MLS # 6781944
Property Type Single Family Residence
Price Type --
Introducing a METICULOUSLY MAINTAINED Shea Homes masterpiece with the most breathtaking backyard retreat revamped in 2017 with unobstructed MOUNTAIN VIEWS capturing dreamy sunsets year-round! This resort style oasis is equipped with a NEW PEBBLE TEC HEATED POOL and SPA with fountain and overspill, plus new pool equipment all in 2017 and pool heater installed in 2023! Note the double French doors to the covered patio, pergola, inviting built in gas grill and bar with convenient sink, custom professional pavers, palm trees, plants and landscape lighting all added in 2017. This spacious 4-bedroom residence PLUS office with OPPORTUNITY FOR 5TH BEDROOM, features a thoughtful SPLIT STYLE FLOOR PLAN, perfectly crafted for comfort and functionality. Home had NEW EXTERIOR PAINT in 2024 and fresh interior paint in 2021, new AC unit in 2023, new hot water tank in 2018. Reach out for our Upgrades and Features document to see all the improvements and pride of ownership! The 10 ft ceilings, oversized doors, crown moulding paired with an open concept chef's kitchen fully loaded with oversized island, 2.5'' granite countertops, 42'' cabinetry running the full length of the wall, built in stainless steel appliances, REVERSE OSMOSIS water purification system and a walk in pantry. Massive homeowner's suite with his/her vanities AND walk in closets, soaking tub and walk in shower. Enjoy low electric bills with SOLAR PANELS already installed in 2017 and TWO GARAGES! The air-conditioned 3-CAR tandem garage, plus the separate single car garage is a dream for projects as a workshop, for car lovers, or extra storage. Appreciate the longer driveway and additional street parking plus NO NEIGHBORS IN FRONT, allowing privacy and spectacular, unobstructed MOUNTAIN VIEWS. Designed with refined luxury and privacy in mind, this gently lived in home is an absolute rarity and the ultimate retreat! Come see for yourself!

8361 E Via De Viva -- Scottsdale, AZ 85258

$700,000
2 Beds
2 Baths
1,987 SqFt
Status Active
MLS # 6705758
Property Type Townhouse
Price Type --
McCormick Ranch single story townhome in PRIME Del Norte Gardens subdivision complete with community pool, tennis/pickleball and plenty of greenbelts throughout the Ranch. This home has been lovingly cared for and presents in a true Arizona Southwest fashion with custom hand painted tiles, saltillo flooring in main areas, wonderful covered patio spaces. A perfect lock and leave winter retreat. Updates include: AC (2022), water heater (2016), roof (2017). Enjoy the McCormick Ranch lifestyle!

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