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.

What’s Your Home Worth?

Search for Your New Home

1420 N Wickiup Road Apache Junction, AZ 85119

$699,000
3 Beds
2 Baths
1,786 SqFt
Status Active
MLS # 6756486
Property Type Single Family Residence
Price Type --
The property across the street recently listed at $3.7 million, making this 2.5-acre horse estate, which can be subdivided, an exceptional value and investment opportunity in a prime location. Equestrian Paradise in Apache Junction Nestled between the legendary Superstition and Goldfield Mountains, welcome to your perfect 2.5-acre retreat in the heart of the Valley's most equine-friendly town—Apache Junction. This level, square lot offers breathtaking views in every direction and all the space you need for a true cowboy lifestyle. This sturdy block-constructed home has been beautifully remodeled with a spacious kitchen flowing seamlessly into the great room, featuring updated flooring, lighting, and fixtures. The large primary suite is designed with comfort in mind with his-and-hers closets. The A/C unit has been replaced with a massive, energy-efficient system designed for zone heating and cooling. Best of all, it's large enough to comfortably support an addition to the home, giving you the flexibility to expand if needed. Equestrians, this property is ready for you! With over $20,000 invested in custom stalls and a massive pen and turnout area, you'll find two 16x24 covered stalls, a large round pen with premium sand and dirt and plenty of room for your horses and toys. From your backyard, ride through rural neighborhoods to nearby trails, bars, and shops, this is truly a horse lover's dream! Additional features include a private well (never used by the current owner) and city water, ensuring you have ample water supply. The utility room off the garage is ducted with A/C, making it a versatile space for extra living, work, or storage year-round. The property also has orange and olive trees, adding a touch of charm. Recent updates: Roof replaced in 2019, water heater in 2019, ring security camera installed, and a brand-new septic system replaced in 2024. Bring your horses, toys, and sense of adventurethis property is ready for you to make it your own!

24728 N 72nd Place Scottsdale, AZ 85255

$699,000
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!

7744 N 14th Street Phoenix, AZ 85020

$699,000
3 Beds
2.5 Baths
2,044 SqFt
Status Active
MLS # 6758338
Property Type Single Family Residence
Price Type --
JUST UPDATED 3 Bedroom, 2.5 Bath 2044 Square foot home is ready for move-in. Bright & airy VAULTED CEILING GREATROOM has NEW FLOORING that flows to the FORMAL DINING AREA as well as the entire home. Great room has large storage closet. Open kitchen has NEW SHAKER STYLE CABINETS, ALL NEW STAINLESS STEEL appliances, QUARTZ counter tops, EAT-IN area, PANTRY and ARCADIA DOORS for plenty of natural light. Yes, the RANGE TOP IS GAS. Primary bedroom has a PRIVATE EXTERIOR COVERED PATIO, TWO (2)Large WALK-IN CLOSETS and an ALL NEW BATHROOM. * Bonus UPSTAIRS LOFT LIVING AREA* Bedrooms 2 and 3 share a full JACK AND JILL BATHROOM with double sinks. The ample sized yard has VIEW FENCE to HOA PRIVATE WASH, a large covered patio & gas hook up for BBQ.

7729 N Via De Fonda -- Scottsdale, AZ 85258

$699,000
2 Beds
2 Baths
1,812 SqFt
Status Active
MLS # 6760240
Property Type Single Family Residence
Price Type --
Experience the allure of Southwestern living in this 2 bed, 2 bath patio home, ideally situated in the Santa Fe neighborhood of McCormick Ranch, Scottsdale, AZ. This meticulously maintained residence seamlessly blends style and comfort. The welcoming living space boasts a fireplace and rich tile flooring that extends into a well-appointed kitchen. Unwind on the expansive patio, perfect for enjoying Arizona's sunsets. The master suite offers a private retreat with an ensuite bath, while the second bedroom adds versatility for guests or a home office. Community amenities enhance the Scottsdale lifestyle, making this home an ideal desert sanctuary.

291 N Cottonwood Street Chandler, AZ 85225

$699,000
4 Beds
2 Baths
2,428 SqFt
Status Active
MLS # 6764613
Property Type Single Family Residence
Price Type --
Meticulously maintained home OVER 2400 square feet situated across from Tibshraeny Park in a highly desirable neighborhood of Cooper Ranch. Located in a favored Chandler area close to Costco, Sam's Club, Santan Village Mall, tons of shopping centers and restaurants with easy access to freeway. EXCELLENT SCHOOL DISTRICT. 4 SPACIOUS BEDROOMS and 2 full baths with DOULBE VANITY+ 2 LARGE FLEX ROOMS can be used as office or game room. . Laundry room with built in cabinets. TILE AND PLANTATION SHUTTER THROUGHOUT. Kitchen features granite counters and GAS RANGE. Easy to maintain backyard with orange tree. HEATED POOL AND SPA. NEWER INTERIOR AND EXTERIOR PAINT. Don't let this great property pass by you.!!

11818 W Luxton Lane Avondale, AZ 85323

$699,000
3 Beds
3.5 Baths
3,158 SqFt
Status Active
MLS # 6764269
Property Type Single Family Residence
Price Type --
Magnificent David Weekley home now on the market in the highly desired Alamar community! This single level home is better than new and comes with generous upgrades. Exciting features include10' ceilings, 8' doors, 4 car garage, epoxy flooring and paver driveway on a large lot! Step inside and you will be blown away by the elegant interior. The gourmet kitchen has floor to ceiling cabinets, custom tile backsplash, granite counter tops on an enormous island, high-end SS appliances, a coffee/dry bar, and custom walk-in pantry with pull-out drawers too. The spacious owner's suite hosts an immaculate bathroom with large dual vanity, an oversized walk-in shower plus walk-in closet. Second and third bedrooms are huge and have their own ensuites. The large laundry room comes with attached cabinets & a utility sink. Home is equipped with water softener and RO system. The multi-sliding glass doors allow abundant natural light in and connect the indoor with outdoor living. The outdoor space has been landscaped beautifully with artificial turf, paver patio, various trees and is highlighted by a stunning fireplace! Community has its own lake, sports courts, pool, children's playgrounds and more!

10618 E Ensenada Street Mesa, AZ 85207

$699,000
3 Beds
2.5 Baths
2,221 SqFt
Status Active
MLS # 6765796
Property Type Single Family Residence
Price Type --
Discover this stunning open single-level home on an oversized lot with breathtaking mountain views! The entertainer's gourmet kitchen features a built-in stainless wall oven, microwave, and cooktop, along with staggered cabinets and granite countertops. Enjoy brand new appliances, fixtures, and handles, spacious bedrooms, a tiled walk-in shower, a new hot water heater, and a whole-home filtration and softener system. The half bath is beautifully remodeled, the interior freshly painted, and tile flooring is installed throughout. The garage offers ample extra storage and an extended paved driveway with a double gate to park your recreational vehicles. The expansive backyard boasts a sparkling heated and cooled pool, with a landscaped yard that's ready for you to enjoy. This is a must-see!

8067 W Sands Drive Peoria, AZ 85383

$699,000
3 Beds
2.5 Baths
2,536 SqFt
Status Active
MLS # 6766566
Property Type Single Family Residence
Price Type --
Beautiful 3 bed, 2.5 bath home in the sought-after Fletcher Heights community! Updated AC units, pool pump, and water heater all replaced in 2022. Enjoy added luxury with soft water and a reverse osmosis system. The kitchen is equipped with a gas range, double ovens, and stainless appliances. The guest bath was remodeled in 2022. Other highlights include plantation shutters and a surround sound system. The backyard is a private oasis with a PebbleTec pool, fountain, and lush grassy area. In the front of the home you will find a cozy porch, and beautiful landscape to include turf. A roomy 3 car garage with a mini split tops off this home with plenty of cabinetry space for storage. You do not want to miss out on this opportunity!

192 W Los Arboles Drive Tempe, AZ 85284

$699,000
4 Beds
3 Baths
2,599 SqFt
Status Active
MLS # 6768498
Property Type Single Family Residence
Price Type --
Prepare to be captivated by this gorgeous 4-bedroom haven w/a 3-car garage that includes an EV charger in Pecan Grove Village! Perfect for entertaining & everyday living, the large living/dining room & the desirable great room enhance by a stone fireplace, surround sound, & sliding glass doors to the back patio, merging the inside-outside activities. High vaulted ceilings, wood-look flooring, plantation shutters, & stylish light fixtures add to the overall appeal. The kitchen is fully equipped w/abundant white cabinetry, SS appliances, mosaic tile backsplash, a pantry, & granite counters. The main retreat showcases a newly remodeled ensuite w/dual sinks, soaking tub, & a walk-in closet. Easy-care backyard offers an attached pergola for morning coffee or relaxing evenings. Don't miss

2158 W Clearview Trail Anthem, AZ 85086

$699,000
4 Beds
2.5 Baths
2,666 SqFt
Status Active
MLS # 6768721
Property Type Single Family Residence
Price Type --
This stunning single-story Majesty model home offers 4 bedrooms, 2.5 bathrooms, and is set against the backdrop of breathtaking Daisy Mountain views. The property features a formal living and dining area, alongside an open-plan eat-in kitchen complete with stainless steel appliances, a large island, and ample cabinet space. The kitchen flows seamlessly into the dining area and spacious family room, creating an ideal layout for entertaining. The primary bedroom suite boasts an en-suite bathroom with dual vanities, a separate tub, and a walk-in shower. The resort-like backyard includes a covered patio, lush landscaping, and a sparkling pebble-finish pool with a tranquil waterfall feature. The property also offers a 3-car garage with abundant space for vehicles and storage. Anthem Parkside amenities include a community pool, tennis and pickleball courts, parks, and a wide range of recreational activities and events, providing a vibrant lifestyle for residents.

28131 N Marchant Trace Queen Creek, AZ 85142

$699,000
4 Beds
2 Baths
2,098 SqFt
Status Active
MLS # 6769536
Property Type Single Family Residence
Price Type --
THIS is it! Country living with no HOA and minutes from the San Tan hiking trails, yet only 10 minutes from groceries and 20 min from QC Marketplace and the new Costco. This is the perfect 4 bed/2 bath home on 1.25 acres.Enjoy the fully insulated shed, complete with AC and electricity - perfect for a home office or creative work space. Inside, this beautiful home boasts a bright and open floor plan, perfect for gatherings. The kitchen will impress with its stunning cabinetry, an entertainer's layout, and ample storage. With a split floorplan enjoy the privacy of the primary suite, with a luxurious soaker tub and walk in shower. Additional highlights include a 4-car insulated garage, a circular driveway with dual gates, chicken coop and a barn/shed with extra storage. Get back to nature and enjoy your evenings watching the stars - this home will not disappoint!

18410 N 78th Drive Glendale, AZ 85308

$699,000
4 Beds
3 Baths
3,679 SqFt
Status Active
MLS # 6771453
Property Type Single Family Residence
Price Type --
This 4 Bedrooms, 3 Bathrooms, Double Door Entry, Large Open Great Room with Vaulted Ceilings & French Doors to Exterior, Fireplace, Lots of Natural Light, Separate Formal Dining Area & Tile Throughout is located in the Highly Desirable neighborhood of Hidden Manor. The Gourmet Kitchen includes a large Island, Lots of Cabinet Space, Dual Oven, 4-Door Refrigerator & Breakfast Area. Additional Family Room leads to side exterior door. With nearly one acre, the backyard is your private escape. It showcases an extended covered patio, full outdoor kitchen, fruit trees, beautiful Koi Pond with mature Koi Fish, Pond Bridge, Lots of Vegetation, Gardening Square & Private Sitting Area. Near Arrowhead Elementary School, Arrowhead Mall, Restaurants, Shopping, Entertainment, Easy Access to Loop 101.

Leave a Reply

Your email address will not be published.