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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10535 E Lincoln Avenue Mesa, AZ 85212

$697,000
5 Beds
3 Baths
3,184 SqFt
Status Active
MLS # 6776622
Property Type Single Family Residence
Price Type --
Welcome to your dream home! With brand new carpet and fresh interior & exterior paint, this beautiful Eastmark home is ready for you! Featuring a 3 car garage, over 3000sqft, 5-beds and 3-baths this home boasts a spacious open-concept layout which makes it perfect for modern living. In the heart of this home is its stunning kitchen, featuring an gas cooktop, built-in microwave & oven, SS appliances, a large island w/pendant lighting and updated bar area. You'll love the functionality of the walk-in pantry, providing gracious amstorage space. Upstairs, you'll find the laundry, bedrooms with a jack and jill bath, and a large loft area that offers endless possibilities for use as a media room, home office, or play area. The spacious master bed is a retreat in itself, complete w/ an en-suit bathroom and his and her closets spaces. Retreat to your spacious backyard for ultimate relaxation. With a large covered patio, upgraded travertine tile and shaded pergola this outdoor space is perfect for relaxing after a long day or enjoying the Arizona sunsets.

3131 N Central Avenue Unit 5012 Phoenix, AZ 85012

$696,772
2 Beds
2 Baths
1,419 SqFt
Status Active
MLS # 6614699
Property Type Apartment
Price Type --
*Construction Completed* 5% BUYER INCENTIVE! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom plus den condo offers ten ft. ceilings, an open floor plan, and large master bedroom with ensuite bathroom. Chefs kitchen offers expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful pool and lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.

578 E Las Puertas Lane Queen Creek, AZ 85140

$696,520
2 Beds
2.5 Baths
2,180 SqFt
Status Active
MLS # 6600560
Property Type Single Family Residence
Price Type --
Welcome to the extraordinary Genova plan - a showcase of luxury and thoughtful design. Step inside and be greeted by a sprawling and functional layout, featuring a huge gourmet kitchen that offers convenience and ample storage. This home is designed with your comfort in mind, ensuring that every aspect complements your lifestyle. Every inch of this residence has been meticulously upgraded.....from high-end fixtures to premium materials, no detail has been spared. A few upgrades include the expanded guest room, gourmet gas appliances and all landscaping included. Book your tour today and start living the good life at Encanterra!

25120 W Patton Road Wittmann, AZ 85361

$696,000
4 Beds
3 Baths
3,008 SqFt
Status Active
MLS # 6688711
Property Type Single Family Residence
Price Type --
Custom home with many upgraded features. 24'' travertine tile, upgraded cabinets, granite counters, stainless steel appliances. Open concept with large great room, columns, 10' ceilings. Bathrooms/showers feature travertine tile. Large master suite with separate walk-in shower and jetted tub with a large walk-in closet, separate entrance. Stone accents and 14' turret entrance. Fenced-in garden area, window shutters throughout.

12826 S 189th Avenue Buckeye, AZ 85326

$695,000
4 Beds
3.5 Baths
2,379 SqFt
Status Active Under Contract
MLS # 6761611
Property Type Single Family Residence
Price Type --
Be excited to see this newly built residence now on the market! With 4 beds, 3.5 baths, and a spacious split 3 car garage, this beautiful home offers style and comfort. The immaculately designed interior highlights a captivating open layout bathed in natural light enhanced with tall ceilings, recessed & chic light fixtures, and sleek wood-look tile flooring. Spotless kitchen is fully equipped with quartz counters, white shaker cabinetry, a walk-in pantry, and an island with a breakfast bar. Retreat to the romantic main suite, showcasing an ensuite and a walk-in closet. On the other end of the home, enjoy an attached in-law suite with just enough privacy. Sliding glass doors open to the expansive backyard with a covered patio overlooking fantastic mountain views. Take advantage of this gem

7322 S Briarwood Lane Gilbert, AZ 85298

$695,000
6 Beds
4 Baths
2,625 SqFt
Status Active
MLS # 6748833
Property Type Single Family Residence
Price Type --
Stunning 6 bed, 4 bath home in Gilbert, AZ! Built in 2023, this modern gem boasts upgraded stainless steel KitchenAid stainless steel appliances, LG front-loading washer/dryer, and a beautifully designed backyard with luxury pavers and artificial grass-perfect for entertaining or relaxing. Located by the San Tan Mountain, you'll enjoy quick access to hiking trails, parks, and Gilbert's vibrant dining and shopping options. With modern finishes and energy-efficient upgrades, this home offers both style and functionality. **OPEN TO OFFERS** **Includes 9 year limited home warranty from KB Homes**

5116 W Top Hand Trail Laveen, AZ 85339

$695,000
4 Beds
3 Baths
2,394 SqFt
Status Active
MLS # 6762265
Property Type Single Family Residence
Price Type --
This newly constructed Taylor Morrison home in Laveen boasts an impressive 5-car RV garage and is packed with modern amenities. As you arrive, a beautifully pavered driveway sets the tone for the luxurious design. Inside, you'll find 4 spacious bedrooms and 3 well-appointed bathrooms, with a thoughtfully designed floor plan that includes a great room and a private dining area. The gourmet kitchen is a chef's dream, featuring a large granite center island with a breakfast bar, perfect for casual dining or entertaining. The great room seamlessly flows to a private patio and backyard, ideal for gatherings. Guests will appreciate the secondary bedroom with its own ensuite bathroom for added privacy. The split primary bedroom offers a serene retreat with a spa-like ensuite, complete with a walk-in shower, dual granite-topped sinks, and a generous walk-in closet. This home is the perfect blend of comfort and sophistication and offers generous spacing between neighboring properties providing added privacy and tranquility. Enjoy easy access to the 202 freeway making trip to the West Valley, East Valley or downtown effortless. All while being surrounded by serene mountain views that provide a peaceful retreat from city life.

44973 W Sandhill Road Maricopa, AZ 85139

$695,000
3 Beds
2.5 Baths
1,844 SqFt
Status Active
MLS # 6740557
Property Type Single Family Residence
Price Type --
This beautifully maintained three bedroom two and half bath home with a GORGOUS DESERT OASIS is surrounded by scenic views and walking paths. Lounging in your PRIVATE POOL your view is open to the expansive community green belt, while still offering private seclusion behind the lush landscape just beyond your property., with the neighborhood park just around the corner. Surrounded by all of this greenery, is your ULTRA LOW MAINTENANCE dessert landscaped retreat. Whether you are sitting around cooking up smores around the fire. Splashing around in your pool or enjoying a glass of wine in your SPA your entertainer's yard will truly be your indulging retreat. Walking into your home you can't help but take note of the impressive craftsmanship of the solid iron screen door as you walk in to the room filled with warm colors and beautiful flooring. The GREATROOM prewired with 7.1 surround sound has the perfect niche for your art or sculptures. The staggered cabinetry, GAS RANGE, and Corian counter-tops make this kitchen open and inviting. Upstairs, your loft is open and bright. Your large master bedroom is complemented by a large tub, separate shower, WALKIN CLOSET, and double sinks. Your spare bedrooms share views of the front yard. This home has everything you are looking for, fans in all the bedrooms, great room and loft, soft-water system, RO water system, EPOXIED GARAGE FLOOR, much much more. Upgrade: AC system, washer & Dryer had complete overhaul. All faucets been changed to Delta brand in bathrooms & kitchen. The entire 2nd floor including stairway been changed to hard planks water and scratch resistant. Bathroom commodes been changed to 17.5 height. 30 electrical solar panels been installed reduces electrical bill Tremendously in hot summer days.

8307 E Gary Road Scottsdale, AZ 85260

$695,000
5 Beds
6 Baths
5,505 SqFt
Status Active
MLS # 6722753
Property Type Single Family Residence
Price Type --
New co-ownership opportunity: Own 1/8 of this professionally managed, turnkey home. Named for a tropical Yucatan oasis, Tulum Oasis features a great room with 17-foot wood ceilings and a two-sided fireplace. A floor-to-ceiling corner window wall floods the space with light and opens to the backyard pool, a gas fire pit, large grassy lawn, BBQ and dining space. The kitchen has a limestone backsplash, two islands and Sub-Zero and Wolf appliances. The dining room offers a view of a stone patio and fountain. The home includes a den and a flex space. All five bedrooms have ensuite baths. The primary suite features a cozy fireplace, a walk-in closet and a luxurious bathroom with a dual-sink vanity, stone tub and open walk-in shower. The home comes fully furnished and professionally decor

5138 Pine Dawn Road Lakeside, AZ 85929

$695,000
3 Beds
2.5 Baths
2,608 SqFt
Status Active
MLS # 6751626
Property Type Single Family Residence
Price Type --
Bring your toys!! Ranch style home located in Scotts Pine Meadows on two lots, .59 acres. Beautifully landscaped home with a three car garage. This well cared for home has three bedrooms, two bathrooms, family and living room. The kitchen has a ceramic tile backsplash and countertops. Dining area can be part of the large family room with views of the backyard or off of the kitchen. A pass thru window makes serving to the family room easy and gives the kitchen a great view. The screen in patio leads to an outside patio. A 5' chain link fence encloses the back yard. On each side of the home is a drive thru gate. There is also RV parking with a sewer hookup.

15221 N Clubgate Drive Unit 1110 Scottsdale, AZ 85254

$695,000
2 Beds
2 Baths
1,401 SqFt
Status Active
MLS # 6754503
Property Type Apartment
Price Type --
Luxury 2BR/2BA condo - first-floor corner unit in the gated Kierland Greens community! Fully remodeled in late 2023: entire kitchen with upgraded cabinets, granite countertops, and brand-new appliances; both bathrooms with walk-in tile showers; luxury vinyl flooring; new HVAC and water heater. There is an attached, oversized 2-car garage, gas tile fireplace, and wood blinds. Easy to access - downstairs, near parking, and close to the pool. The community features a resort-style heated pool/spa, a workout room, BBQ grills, and a ramada with heaters & misters. You'll love the excellent location with excellent dining and shopping options; near the Kierland Golf Club, the Westin Hotel, Kierland Commons, and Scottsdale Quarter. Available for immediate move-in or as an investment property.

14344 W Alvarado Drive Goodyear, AZ 85395

$695,000
5 Beds
4 Baths
3,400 SqFt
Status Active
MLS # 6761951
Property Type Single Family Residence
Price Type --
Great home in Palm Valley awaits you. The primary bedroom is downstairs, and the detached casita is perfect for work from home. Close to Great Hearts/Trivium, Lifetime Fitness, and easy access to i-10. Spacious and well laid out, make this your home today. Loft, bedroom and bathroom upstairs, garage cabinets, pool, artificial turf in the backyard. Walking path to the west of the home so no neighbors directly to the west of you.

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