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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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.

20219 S 229th Way Queen Creek, AZ 85142

$699,000
4 Beds
3 Baths
2,717 SqFt
Status Active Under Contract
MLS # 6698529
Property Type Single Family Residence
Price Type --
$120+k of upgrades/options. Welcome to Barney Farms! A coveted Queen Creek resort style community. Enjoy sparkling lakes for kayaking, an aquatic center, fishing, sport courts, pickleball, miles of trails with scenic views, a world class playground, & a social clubhouse. This single level home was designed with sophistication & comfort in mind. The heart of the home includes an impressive gourmet kitchen with upgraded stacked, soft close cabinets, crown molding, 6cm quartz counters, tile backsplash, & chiller with full extension racks. Wood plank tile flooring. A dream owner's suite bath includes a floating vanity & spa shower with rain faucet. Designer tile flooring, custom framed mirrors at guest baths Built with energy efficient features throughout. Features list under document tab. Barney Farms includes lakes for catch & release fishing & Kayaking/boating, community pools, pickle ball, bocce ball, cornhole, basketball, clubhouse & playgrounds. Ramadas & BBQ grills for social gatherings. Events & activities are planned throughout the year by CCMC, a premiere lifestyle HOA. Be sure to visit the Barney Farms Barn clubhouse and Aquatic Center with community pools that include a leisure pool, splash pad, sport & lap pools. Be WOWed by the beautifully manicured tree-lined streets and resort-feel throughout the community. This active community has several monthly events for meeting neighbors. A few community events include Halloween Trunk-or-Treats, Fall Festivals, Santa visits, Easter Egg hunts, Spring & Fall Festivals, neighborhood potlucks & socials, bike & boat parades, live music events and so much more. Welcome Home!

6610 E Regina Street Mesa, AZ 85215

$699,000
4 Beds
3 Baths
2,557 SqFt
Status Active Under Contract
MLS # 6715948
Property Type Single Family Residence
Price Type --
Pride of ownership is shown in this remarkable corner lot property in Mesa! No HOA! Perfect for a family to make memories or an investors turn key STR dream! Fall in love with an impressive interior showcasing spacious living areas, gleaming tile wood floors, high ceilings, soothing color palette & delightful stone fireplace.The fabulous kitchen boasts stainless steel appliances, sleek granite counters, white shaker cabinets, pantry & center island equipped w/ a breakfast bar. Upstairs double doors open to the primary bedroom, comprised of private access to the balcony, an immaculate ensuite w/ dual sinks & walk-in closet. Host memorable gatherings in the amazing backyard, including a covered patio, fire pit, putting green & sparkling swimming pool w/ a spa! Many upgrades throughout

7923 E Hubbell Street Scottsdale, AZ 85257

$699,000
4 Beds
3 Baths
1,976 SqFt
Status Active Under Contract
MLS # 6714223
Property Type Single Family Residence
Price Type --
Welcome to the Home on Hubbell, a charming mid-century modern gem in the heart of South Scottsdale. This 1976 sq ft home seamlessly combines style and space. The remodeled kitchen features quartz countertops, shaker-style cabinetry, open shelving and a gas cooktop. A large butler pantry doubles as an indoor laundry and direct access from the 1 car garage...if you know South Scottsdale you know these are two huge bonuses! No car port here! The mid-century style of this home is complemented by stained concrete flooring and fresh interior paint. The versatile floor plan includes 4 bedrooms and 3 bathrooms, with a dual master layout perfect for multi-generational living, a roommate setup, or even a vacation rental. The sandblasted brick exterior and reimagined outdoor desert landscaping add to this home's Frank Lloyd Wright-inspired curb appeal. The lush backyard is truly a desert oasis, it's as if you are on vacation in Palm Springs, featuring a beautiful pebble-tech pool. Located just minutes from Old Town Scottsdale, Loops 101 and 202, Sky Harbor and ASU. The Home on Hubbell truly encompasses Scottsdale living with prime location and accessibility.

7147 E Rancho Vista Drive Unit 3007 Scottsdale, AZ 85251

$699,000
2 Beds
2 Baths
1,252 SqFt
Status Active Under Contract
MLS # 6731296
Property Type Apartment
Price Type --
Unbeatable Location, Luxury Amenities - Motivated Seller! Step into modern living with this stunning 2-bed/2-bath condo featuring an open-concept design and courtyard views. Every detail exudes elegance, from high-end upgrades to the spacious primary suite with a huge walk-in closet and flexible space for dining, a home office, or a cozy den. Nestled within the lush, botanical beauty of Optima, enjoy resort-style amenities: two outdoor pools, an indoor lap pool with spas, steam saunas, indoor basketball and racquetball courts, a putting green, pickle ball court, a cutting-edge fitness center, full-time concierge, and an on-site restaurant. Located just steps from renowned restaurants, luxury shopping, and outdoor adventures, this rare opportunity won't last. All of this is within walking distance to numerous acclaimed restaurants, luxury shopping destinations, and various outdoor activities.

25555 N Windy Walk Drive Unit 54 Scottsdale, AZ 85255

$699,000
3 Beds
2.5 Baths
2,140 SqFt
Status Active Under Contract
MLS # 6743317
Property Type Townhouse
Price Type --
REDUCED,Did you ever want to live in Troon? Now is your chance at Skye Top, the most desirable, vibrant TH community. Two story wall of windows in great room. Charming entertaining patio. White cabinetry, granite counters, replaced AC, water heater. Community lagoon pool & spa w/ boulder waterfall & clubhouse w/ FP. Located in N. Scottsdale near golf, fine dining, & shopping. **** HOA fees include cable & internet.. Walk the neighborhood, meet friends of varied ages some with dogs. attend our clubhouse get togethers.

9725 E Lompoc Avenue Mesa, AZ 85209

$699,000
4 Beds
3 Baths
3,409 SqFt
Status Active Under Contract
MLS # 6750116
Property Type Single Family Residence
Price Type --
Prime corner lot on golf course, home offers 4 bdrm/3ba/loft perfect for families/entertaining. Formal living/dining, fam room w/electric fireplace. Upstairs, master suite, master bath w/separate shower/tub, & walk-in closet. 2 bdrms upstairs & 1 bdrm downstairs. Private oasis backyard w/covered patio, hot tub, pool w/water fall ideal for relaxing/hosting gatherings. 3-car garage w/ample space to park plus storage. Access golf course through nearby passageway, perfect for sunset strolls/walking the dog. Community offers 5 parks including 4 play structures, 3 basketball courts, 3 sand volleyball courts & 9 ramadas. Excellent schools in the area, along w/nearby shopping, dining & quick freeway access. This home has it all for a growing family & those who love to entertain.

17518 E Bismark Lake Trail Rio Verde, AZ 85263

$699,000
2 Beds
2.5 Baths
1,679 SqFt
Status Active Under Contract
MLS # 6746487
Property Type Twin Home
Price Type --
Enjoy tranquility at it's best in the ''Resort Collection'' on a PREMIUM LOT with 180 DEGREE MOUNTAIN VIEWS under your extended paver patio & pergola with BUILT-IN BBQ ISLAND and FIREPIT! Enjoy cooking in your Gourmet Chef's Kitchen complete with GRANITE COUNTERTOPS & ISLAND, custom backsplash, STAINLESS STEEL APPLIANCES & HOOD, double ovens, hand blown glass pendants, & upgraded cabinets. Large primary suite with MOUNTAIN VIEWS, upgraded bathroom with custom walk-in tile shower, dual sinks, & GIANT WALK_IN CLOSET. Upgraded lights/fans/fixtures, PLANTATION SHUTTERS, & tile floors throughout. Spacious Den with CUSTOM BARN DOORS. The garage boasts EPOXY FLOORS & custom industrial grade cabinets. TANKLESS WATER HEATER, R/O System and Water Softener. Barely lived in-FEELS LIKE IT'S BRAND NEW Also including a lovely backyard w/a covered patio, attached pergola, a built-in BBQ, fire pit, and wonderful mountain views, this home is simply a dream come true! Act now before it's gone!

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