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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1911 E Olive Court Gilbert, AZ 85234

$700,000
3 Beds
3 Baths
2,886 SqFt
Status Active Under Contract
MLS # 6704501
Property Type Single Family Residence
Price Type --
$65K BELOW APRAISD VALU! BACK ON THE MARKET! Buyers failed to fund. This beautiful 3 bedrm home was built with your family in mind! Nestled in a quaint cul de sac in Sonoma Ranch, just walking dist. from the Elem School. Extrmly lg back yard offers plenty of possibilities for the kids & they'll spend countless hours in the newly resurfaced pool with new cool deck and a new variable speed pump all redone in 2023. Enjoy the cool evenings and beautiful sunrises on the lg balcony directly off your master bedroom. The master also boasts dual walk-in closets! The loft area upstairs makes for a fun hang-out/study area for the kids and the fmly room has a cozy gas fireplace for those cool holiday evenings! The 3 car garage offers lots of storage and the chef will appreciate the gas kit appliance

5424 N 186th Drive Litchfield Park, AZ 85340

$700,000
4 Beds
3 Baths
2,823 SqFt
Status Active Under Contract
MLS # 6721346
Property Type Single Family Residence
Price Type --
Check out this amazing 4 bed, 3 bath residence w/beautiful mountain views, now for sale in Savannah! Great curb appeal, a low-care landscape, a 5 car garage with Hydraulic car lift & rear entry, RV gate, and a welcoming front porch are just the beginning! Discover a cozy living area and a family room boasting soft carpet in all the right places, an entertainment niche, a warm fireplace, and custom palette throughout! The luxurious eat-in kitchen is comprised of wood cabinetry w/granite counters, recessed lighting, mosaic tile backsplash, high-end appliances such as a wall oven, a walk-in pantry, a lovely island, and a breakfast bar. End your busy day in the primary bedroom, boasting a walk-in closet and a lavish ensuite w/dual vanities. Finally, the wonderful backyard includes a covered patio, built-in BBQ, extended paver seating area, lush natural turf, 2 pergolas, and a sparkling blue pool! What are you waiting for? Act now!

1261 E Springfield Place Chandler, AZ 85286

$700,000
3 Beds
3 Baths
2,245 SqFt
Status Active
MLS # 6745550
Property Type Single Family Residence
Price Type --
A Rare Gem Awaits You in Madison Park! Located in the heart of Chandler's desirable Madison Park community, this exceptional 2020-built home provides unmatched privacy with no neighbors in front or behind. Step inside and be wowed by over $100K in designer upgrades—bringing a level of style and luxury rarely found at this price! The open-concept layout, complemented by high-end finishes, sets a new bar for sophisticated living. Picture yourself cooling off in the community's sparkling pool and enjoying all that Chandler has to offer—top-rated schools, trendy dining, premier shopping, and more. Known for its vibrant community events, world-class parks, and booming tech scene, Chandler is the perfect place to make your new home. Don't miss your chance to experience this lifestyle

62 W Elmwood Place Chandler, AZ 85248

$700,000
5 Beds
3 Baths
2,878 SqFt
Status Active
MLS # 6754032
Property Type Single Family Residence
Price Type --
Expansive Backyard Paradise! Gorgeous Home with Private Pool in the exclusive Ironwood Vistas Gated Community! Located in the highly desired Ironwood Vistas community, this home has it all! Relax in your own private pool on one of the largest lots, with additional access to a community pool and jacuzzi. The spacious layout includes a full bedroom and bathroom downstairs, ideal for guests or a personal retreat. Upstairs, you'll find a huge bonus room/loft, offering extra space for whatever you need. With brand new tile in the living and dining rooms, a recently serviced AC (installed in 2014), and charming touches like a Pygmy orange tree and fresh basil, this home is filled with delightful surprises. See for yourself why this home is truly one of a kind!

8361 E Via De Viva -- Scottsdale, AZ 85258

$700,000 - 2Br/2Ba -  for Sale in Del Norte Gardens, Scottsdale
Open House
$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!

10605 W Catalina Drive Avondale, AZ 85392

$700,000 - 4Br/3Ba -  for Sale in Avalon Estates, Avondale
Open House
$700,000
4 Beds
2.5 Baths
2,747 SqFt
Status Active
MLS # 6757329
Property Type Single Family Residence
Price Type --
Large corner lot with just 1 neighbor! The home offers 4 bedrooms, 2.5 bathrooms & more than 2,700 sq ft of livable space. Throughout you will notice the plank tile floors, neutral 2 tone paint, 9' ceilings/ 8' doors, 2'' faux wood blinds & ceiling fans in every room. The kitchen features gray shaker cabinets (soft close & dove tail drawers), under cabinet lighting, Newer SS appliances (Gas stove & fridge included), Reverse osmosis, granite countertops & 2 pantries. The insulated RV garage is every man's dreams with epoxy flooring, lots of outlets, garage cabinets, sink & RV hookups (220 outlets/ cleanout). Large ¼ acre lot with low maintenance landscaping, covered patio stretches the entire length of the house, 2 tough sheds, flood lights, cameras & RV gate with lots of room for parking. Nearby you have the plenty of shopping at Tanger Outlets/ Park West. Entertainment at West Gate, State Farm Stadium, Desert Diamond Casino & Top Golf. Soon VAI Resort & Mattel adventure park will be complete. All of this within 5 miles! I10 & 101 freeways are just 1 mile away!

1717 E Morten Avenue Unit 59 Phoenix, AZ 85020

$700,000 - 3Br/3Ba -  for Sale in Pointe 16, Phoenix
Open House
$700,000
3 Beds
3 Baths
1,735 SqFt
Status Active
MLS # 6659431
Property Type Townhouse
Price Type --
Sitting near the base of Phx Mtn. Preserves, this gated community rests alongside a quiet neighborhood and access to parks & outdoor trails. Natural light fills the home thanks to END UNIT location providing unobscured exposure to the south and west. Spacious middle floor offers beautiful kitchen with quartz countertops centered between the living and dining area. Multiple windows line the wall affording sunset views from inside or from large patio. Bedrooms and full baths are on top floor along with laundry. Terrific city lights & mountain views from master suite. Ground floor offers flex space to be used how you see fit! Access 2 car garage with storage racks and private patio w/ bbq & turf. Ground floor and middle floor each have powder room

20709 N 37th Way Phoenix, AZ 85050

$700,000 - 4Br/3Ba -  for Sale in Wildcat Ridge, Phoenix
Open House
$700,000
4 Beds
2.5 Baths
2,041 SqFt
Status Active
MLS # 6761515
Property Type Single Family Residence
Price Type --
***Perfect Desert Ridge location in the POPULAR WILDCAT RIDGE!!!*** SHOWS LIKE A MODEL! Your friends and family will be blown away when they see the resort-style backyard that features a built in BBQ island gas grill, gas fire-pit with sitting area, all new patio pavers, dramatic landscape lighting and just about the greenest & easiest to care for grass (artificial) in all of AZ! But wait till' you see the inside! Pride of ownership is highlighted throughout this 4 bedroom/2.5 bath stunner, with all brand new interior & exterior paint, 2024 HVAC system, an abundance of new designer finishes, updated flooring, and so much more! Don't miss this move-in ready beauty and come tour today before it's gone!

1101 E Marlette Avenue Phoenix, AZ 85014

$700,000 - 3Br/2Ba -  for Sale in Marlette Manor, Phoenix
Open House
$700,000
3 Beds
2 Baths
1,836 SqFt
Status Active
MLS # 6750105
Property Type Single Family Residence
Price Type --
New $20,000 Price Drop!! Welcome to this beautifully loved and maintained 3-bedroom, 2-bathroom + home office in the heart of Uptown Phoenix! This is your opportunity to own a truly special property. Step inside to find an all-new kitchen, stunning wood-look flooring that is a breeze to maintain, and freshly remodeled bathrooms. The newer Trane AC ensures your home stays cool, while the designer touches throughout give it a luxurious, updated feel. Outside, enjoy the Arizona lifestyle in your backyard oasis, complete with a pool to cool off on and a large covered patio ideal for outdoor entertaining. The yard boasts mature trees and landscaping, offering shade and privacy. For those who work from home, you'll love the private office tucked away in the garage— a perfect retreat for focus and productivity, separate from the main living areas. Plus, the generous laundry room adds extra convenience and space. Located in the highly sought-after Madison School District, this home radiates pride of ownership and is situated in one of Phoenix's most desirable neighborhoods, close to everything uptown has to offer.

47 N 3263 -- Vernon, AZ 85940

$699,999
3 Beds
2 Baths
2,279 SqFt
Status Active
MLS # 6694069
Property Type Single Family Residence
Price Type --
Calling all equine/nature enthusiasts dreaming of owning your own ranch on 10 acres while enjoying the wildlife, peace & tranquility that this beautiful property has to offer. The wonderful home 3 large bedrooms, 2 baths w/ huge loft with built in beds and an oversized 2 car garage. It was beautifully designed from the pole barn on the property and offers vaulted ceilings, new beautiful quartz counters throughout, a spacious kitchen with newer s/s appliances, large island with pantry, nice sized laundry room and a gorgeous fireplace in the great room that keeps the home cozy and warm. The master bedroom has a full master suite with a large walk-in shower & closet and its own sep exit with gorgeous views. This property also features a Barn with utilites, and hay storage w/ RV dump. This property also features a Barn with utilities, and hay storage w/ RV dump.The Quonset hut has room for your RV or Horse trailer and is pre-plummed for a bathroom with water and electric near by. This property has it all including a green house with water and power and an adorable 50+ capacity chicken coop with power as well as bunny hutch. The Koi pond and green house are salso set up for aquaponics. You will enjoy the views from the patios or the Pergola and will also love the night stargazing. This property is one of kind and will not last. Please call to schedule your showing today. Additional 10 acres for sale in separate listing.

4206 W Porter Lane Queen Creek, AZ 85142

$699,999
4 Beds
2.5 Baths
2,511 SqFt
Status Active
MLS # 6745615
Property Type Single Family Residence
Price Type --
BRAND NEW HOME on a HUGE 1.2-acre corner lot is now complete! This beauty offers 4 beds, 2.5 baths, and an oversized 3-car garage. Comes with front yard landscaping w/artificial turf. The home has abundant natural light, neutral paint, modern light fixtures, tall ceilings, and wood-look tile flooring in common areas. The spacious open layout makes entertaining easy, featuring multi-sliding doors merging the inside/outside activities! The gourmet kitchen has SS appliances w/wall ovens, quartz counters, subway tile backsplash, white shaker cabinetry, a walk-in pantry, and a large waterfall island. All bedrooms are complete with plush carpet & walk-in closets! Don't wait. This house is move in ready!! Relax on your back-covered patio while enjoying the tranquil mountain views! The expansive backyard gives you so much room for your creative ideas. Bring your toys, RVs, horses, & other animalsthis property has plenty of space! Don't miss this fantastic opportunity!

26110 S 196th Street Queen Creek, AZ 85142

$699,999
3 Beds
2 Baths
1,617 SqFt
Status Active
MLS # 6720483
Property Type Single Family Residence
Price Type --
'''Home OF The Heart'' Filled w/ Upgrades & Happiness! Offered on a Fenced 1 Acre, COUNTY ISLAND, No HOA Lot, w/ 3+ Car Garage, RV Gate, 3 Stall Shed Row For Livestock, Riding Arena & Room For Additional Turn Out. Located Just 1.5 Miles From The State of The Art Horseshoe Park & Equestrian Center. Located Near Great Shopping & Entertainment! The Serine Sunsets & Mountain Views Displayed From The Private,Tree Lined,Colorful,Grass Backyard,Are Surely To Bring Big Smiles, & The Extended,Covered Patio,Provides Shade For Days!The New Custom, Dual Pane,Dbl Door,Anderson,Slider Door Invites You Inside, To An Interior That Reflects a Popular 3 Bdrm/2 Bath Greatroom,Island Kitchen Floorplan w/ Designer Touches Throughout: Vaulted Ceilings, Raised Panel Doors & Cabinets, 16 Porcelain Tile Floors, Newer Carpet, Enhanced Lighting & Plumbing Fixtures Including A Newer Water Heater(2023) As Well As Microwave/Stove, Refrig(2022). All Of This, And Much More, Is Wrapped By The New Exterior Paint (2024). So, If You Are Looking For A Place That Has Been Loved & Cared, On a County Island w/ No HOA & a Nice Horse Set Up & Offers Spectacular Sunset Views, Then Set Your Sights on This Home!

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