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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16450 W Desert Wren Court Surprise, AZ 85374

$699,000
2 Beds
2 Baths
1,850 SqFt
Status Active
MLS # 6751366
Property Type Single Family Residence
Price Type --
Welcome to this stunning, fully remodeled Palo Verde located on the 14th green of Desert Springs Golf Course. This home boasts a desirable split bedroom floorpan with recent 2022 updates including a new roof underlayment, fully owned solar, and heat radiant windows. The new 5-ton HVAC system ensures year-round comfort. Enjoy modern luxury with new flooring throughout, 5 inch baseboards, windows with custom trim, and fresh interior and exterior paint. The beautifully renovated primary bathroom features a luxurious shower and a custom California Closet. The kitchen is equipped with new appliances and elegant quartz countertops. The updates continue with all interior doors upgraded to stylish 2-panel designs with new hardware. The exterior features fresh cool decking and an epoxied garage.

3010 E Shady Spring Trail Phoenix, AZ 85024

$699,000
3 Beds
2.5 Baths
2,439 SqFt
Status Active
MLS # 6753812
Property Type Single Family Residence
Price Type --
Sellers are offering $5,000 to spend on Buyers' choice! This house is as impressive on the inside as it is on the outside! Beautiful custom wood shutters. Updated, but timeless wood laminate and tile flooring in all areas but the bedrooms. Upgraded light fixtures inside & out. All newer SS kitchen appliances, granite countertops, and island w/breakfast bar, newer disposal & faucet. Spacious master with ensuite with dual vanity, and a walk-in closet. Space and functionality abound in this home. The loft brings options for additional bedrooms, office, or home gym. The backyard is tranquil facing a natural desert view.

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!

1935 W Plum Road Phoenix, AZ 85085

$699,000
4 Beds
3 Baths
2,022 SqFt
Status Active
MLS # 6755607
Property Type Single Family Residence
Price Type --
Welcome home! This remarkable 2020 build by DR Horton features the sought-after Bluebird floorplan, designed for modern living. With 4 spacious bedrooms, 3 well-appointed bathrooms, and a convenient den, this home is perfect for families and professionals alike. Enjoy seamless flow throughout the open kitchen that connects effortlessly to the luxurious living room, creating an ideal space for entertaining or relaxing. Step through the sliding doors from the living room to your private backyard oasis, where you'll find no rear neighbors, ensuring a tranquil atmosphere for gatherings and outdoor enjoyment. Located in the amenity-rich Norterra Fireside community, you'll have access to a heated pool, spa, fitness center, and children's playgrounds, all within a secure, gated environment.

19817 N 67th Drive Glendale, AZ 85308

$699,000
4 Beds
3 Baths
3,596 SqFt
Status Active
MLS # 6756330
Property Type Single Family Residence
Price Type --
Beautiful Arrowhead Home! Sparkling salt water play pool* assumable VA loan at 2.62%* 3596 sq ft* 4 bedrooms* 2.5 bathrooms* large upstairs bonus room* 3 car garage* 2 newer AC units 2023 & 2019* new solar panels installed in 2022 w/ pigeon proofing* solar is $159.31 a month- fixed rate* pool totally resurfaced 2023* new salt water pool dispenser & pool light 2024* new custom window coverings 2023* roof replaced entirely 2013* all stainless steel kitchen appliances* newer stove and dishwasher* custom stainless steel refrigerator* beautiful walk out balcony off master bedroom* fresh grey epoxy coated garage flooring* close to the new Children's Hospital* Abrazo Hospital* Arrowhead Mall* restaurants* shopping* schools* golf* Thunderbird park w/hiking and walking* top rated Deer valley Schools* highly desirable Arrowhead Ranch community* excellent location* fantastic home!!

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!

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