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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29825 W Bellview Street Buckeye, AZ 85396

$695,000
4 Beds
2 Baths
2,841 SqFt
Status Active
MLS # 6716717
Property Type Single Family Residence
Price Type --
Welcome to a Brand-New Home 2023 on a little over an acre. This home has a split 4 bedroom 2 bathroom with a 3 car extended garage. Large open concept living area featuring countless upgrades such as 9' ceilings, extra large kitchen island with quartz counter tops and backsplash. LED Lighting and tile floors throughout the entire house. Primary bedroom has a spa-like bathroom with a seamless walk-in shower, water closet, walk-in closet, dual sinks. Shared well with one neighbor. This one is a must see! 2x6 Constructions with foam sprayed in walls and roof. 400 amps service, plenty of power for an RV garage/casita. 50 amp outlet in garage for your electric vehicle. Not your average new built. We have the Occupancy Cert in hand!! Ready to move!

6850 S Birdie Way Gilbert, AZ 85298

$695,000
3 Beds
2 Baths
2,361 SqFt
Status Active
MLS # 6717020
Property Type Single Family Residence
Price Type --
Don't miss out on this fabulous Seville Country Club home . Single level, 3 bedrooms plus Den, 2 bathrooms, 2 car garage, and single car garage. Resort-style backyard with plenty of space to entertain including spa, built in BBQ and firepit. This prime golf course lot offers beautiful views of the pristine course. Granite countertops and matching stainless appliances. Outside of home freshly painted. Much more to see.

2216 E Meadowview Court Gilbert, AZ 85298

$695,000
4 Beds
3 Baths
2,188 SqFt
Status Active
MLS # 6732861
Property Type Single Family Residence
Price Type --
Nestled in the community of Belrose, this gorgeous 4-bed, 3-bath home offers the perfect blend of style & comfort. Discover elegant tile flooring paired with plush carpeting in all the right places, updated lighting & black hardware throughout. The bright, open kitchen boasts white cabinets, sleek stainless steel appliances, quartz countertops, & brand new pendant lighting. The spacious primary bedroom features a luxurious ensuite with walk-in shower & dual vanity. Backyard oasis with $60K of updates offering a sparkling pool & 2 patios with travertine tile. Also included, a convenient 2-car garage & soft water loop available. Situated in an incredible central location, this home provides easy access to highways, top-rated schools, shopping, dining, & more!

1275 Pebble Springs Prescott, AZ 86301

$695,000
3 Beds
3 Baths
2,213 SqFt
Status Active
MLS # 6759048
Property Type Single Family Residence
Price Type --
Welcome to this stunning single-level home located in the gated Creekside neighborhood of Prescott Lakes. Boasting exceptional curb appeal, the property features a paver driveway and beautifully landscaped front yard, complementing the stucco exterior with elegant stacked stone accents. As you enter, you'll be greeted by rich, dark engineered wood floors that flow throughout the main living areas, setting the tone for the inviting open floor plan. The great room exudes comfort and sophistication, seamlessly connecting the living room, dining area, and kitchen, while offering a versatile bonus space. At the heart of the great room is a cozy gas fireplace with a rock surround and wood mantel, flanked by a wall of windows that fill the space with natural light. The kitchen is a chef's dream, equipped with stainless steel appliances, including a 4-burner gas range, granite countertops, glass tile backsplash, and a walk-in pantry. The large kitchen island, with a breakfast bar and undermount sink, serves as a central gathering spot, perfect for casual meals or entertaining. The dining area, open to both the kitchen and great room, provides a seamless flow for hosting guests. The den offers additional flexibility, easily transformed into a breakfast nook, library, or office, with sliding glass doors that allow you to customize the space to your preferences. Escape to the luxurious primary bedroom suite, where you'll find granite counters with double sinks, a dressing table, a walk-in closet, and a spa-like glass-enclosed walk-in shower. Two additional bedroomsone carpeted and one with wood flooringshare a Jack and Jill bathroom with granite countertops, dual sinks, and a walk-in tub/shower combination. Additional features include a convenient powder room and laundry room, both located off the foyer. The spacious 3-car tandem garage provides ample storage, workshop space, or room for an extra vehicle. Outdoors, the expansive covered paver patio, open side patio, and fully landscaped backyard offer plenty of space to relax and enjoy the crisp mountain air of Prescott.

2243 W Spur Drive Phoenix, AZ 85085

$695,000
4 Beds
2.5 Baths
2,928 SqFt
Status Active
MLS # 6733386
Property Type Single Family Residence
Price Type --
Highly desired PRIVACY corner LOT in PRIME Norterra ''Valley Vista'' location featuring N/S Exposure w/Open Floorplan, 4 Beds, 2.5 Baths, Kitchen w/Upgraded Cabinetry, Island Breakfast Bar, Granite Countertops, Stainless Steel Appliances, Vaulted Ceilings, Wrought Iron Staircase Railing, NEW CARPET & INTERIOR PAINT, Family/Great Room w/Large View Windows, Hardwood & Stone Flooring, Primary Suite w/Separate Soaking Tub & Shower, 2-Walk-in Closets, Recessed LED Lighting, Water Softener System, Private Resort Style Backyard w/Pebbletec Swimming Pool, Extended Covered Patio, Pavers, Grassy Play Area & SO MUCH MORE! Community features Walking & Biking Trails, Playgrounds, Greenbelts, Basketball, Close to Everything- Shopping, Dining, Golfing, Schools, TSMC plant & EZ Freeway Access - Must See!

2325 W Highridge Road Wickenburg, AZ 85390

$695,000
3 Beds
2 Baths
2,748 SqFt
Status Active
MLS # 6762876
Property Type Single Family Residence
Price Type --
Discover the epitome of quality craftsmanship in this beautiful custom Crissman home, perfectly situated on 2.5 in the coveted Sonoran Estates community, right in Wickenburg. This expansive residence boasts a thoughtfully designed split floor plan that offers the ideal balance of privacy and space, featuring formal dining, family, living, and breakfast rooms—perfect for both everyday living and entertaining. The luxurious master suite provides a tranquil retreat, while a versatile den doubles as an exercise room or home office. A separate workshop/storage room adds to the home's functionality. The property includes a 2-car attached garage and an impressive detached 2-car garage with a 3/4 bath, offering endless possibilities for use. Step outside to the extensive covered patio, complete with a convenient kitchen pass-through, where you can enjoy breathtaking views of Vulture Peak. The beautifully landscaped grounds include fruit trees behind the house, creating a serene outdoor oasis. This home also comes equipped with security shutters and doors for peace of mind. Recent upgrades include two brand new AC units, ensuring year-round comfort. Don't miss this opportunity to own a slice of paradise with incredible views, top-notch amenities, and plenty of room for your horses, all just minutes from the heart of Wickenburg!

28327 N 164th Street Scottsdale, AZ 85262

$695,000
4 Beds
2 Baths
2,311 SqFt
Status Active
MLS # 6752370
Property Type Single Family Residence
Price Type --
Experience luxury living with breathtaking mountain views in this upgraded 4-bedroom, 2-bath home. From the moment you arrive, the refined stone accents, meticulous desert landscaping, and spacious 4-car garage set the stage for what's inside. The open living area features soaring ceilings, a stone fireplace, and expansive windows that frame stunning mountain views. The gourmet kitchen is a chef's delight with granite countertops, stainless steel appliances, double wall oven, and rich espresso cabinetry. The main suite offers plush carpeting, dual sinks, a walk-in closet, and direct backyard access. Outside, relax on the covered patio, enjoy the fire pit, or unwind in the hot tub! With space for toys or horses, this home blends modern luxury with the natural beauty of Arizona.

22338 N O Sullivan Drive Maricopa, AZ 85138

$695,000
5 Beds
2.5 Baths
4,152 SqFt
Status Active
MLS # 6741286
Property Type Single Family Residence
Price Type --
Welcome to this stunning, updated Maricopa home! With breathtaking golf course and mountain views, this spacious property offers the best the Valley of the Sun has to offer. As you enter the home, you are welcomed by open living areas perfect for entertaining. The home also features generously sized bedrooms, including a lavish downstairs master with spa-like bathroom complete with custom walk-in shower. Large windows throughout showcase the beautiful surroundings. Step outside to your private oasis, where a heated pool and putting green invite year-round enjoyment. The expansive patio area is ideal for hosting barbecues, relaxing in the sun, or simply taking in the serene golf course and mountain views. NEW AC units in 2021 and NEW water heater in 2024!

23035 W Sierra Ridge Way Wittmann, AZ 85361

$695,000
5 Beds
4 Baths
3,155 SqFt
Status Active
MLS # 6743733
Property Type Single Family Residence
Price Type --
Huge custom home in quiet subdivision on one a large 1+ acre lot with an open space behind it. The yard includes two RV gates, RV parking, pool, spa, built-in BBQ, and multiple extended patios with low maintenance artificial turf. Great for entertaining! The home includes two master suites, an open greatroom with built-in Entertainment Center, kitchen and dining area. The spacious kitchen includes granite countertops and double ovens. All appliances included! Enjoy the open space, country air and rural lifestyle in this spacious home with all of the amenities!

8640 E Indigo Street Mesa, AZ 85207

$695,000
4 Beds
3 Baths
2,359 SqFt
Status Active
MLS # 6745687
Property Type Single Family Residence
Price Type --
Mountain Bridge, 4 Bedroom 3 bath home is loaded with upgrades including lighting, French doors with glass panels, surround sound, chef's kitchen including stainless steel appliances, breakfast bar, pantry, tile backsplashes and rich granite counter tops. Mountain Bridge community is loaded with amenities including large pool & spa. tennis, fitness club and more all within walking distance

13873 N 89th Street Scottsdale, AZ 85260

$695,000
3 Beds
2 Baths
1,651 SqFt
Status Active
MLS # 6744502
Property Type Single Family Residence
Price Type --
New roof, paint and more on this updated 3-bedroom, 2-bathroom gem! Great location and price! The kitchen is a chef's delight, featuring white shaker cabinets and stunning quartz countertops that complement the stainless steel appliances. The home boasts not one, but two distinct living spaces—an inviting family room for everyday relaxation, which features a beautiful brick fireplace and a separate formal living for special occasions and entertaining guests. The updated bathrooms are elegantly designed with contemporary fixtures and finishes, offering a touch of sophistication. The master suite is a true retreat, complete with a huge walk-in shower and a luxurious soaking tub, perfect for unwinding after a long day. Conveniently located in a great neighborhood, this home offers both privacy and accessibility to amenities. Whether you're enjoying quiet evenings by the fireplace or hosting lively gatherings, this home provides the perfect backdrop for your lifestyle. Don't miss the opportunity to make this your own! Home is also available for rent.

1956 W Black Hill Road Phoenix, AZ 85085

$695,000
5 Beds
2.5 Baths
2,648 SqFt
Status Active
MLS # 6745313
Property Type Single Family Residence
Price Type --
The search is finally over! Discover this gorgeous 5-bedroom, 2.5-bathroom residence, complete with a 3-car garage and meticulously maintained front yard. Inside, the living room boasts high ceilings, a soothing palette, blinds for privacy, and stylish wood-look flooring. The great room features a cozy fireplace for relaxing evenings. The gourmet kitchen comes with granite counters, abundant white cabinetry with crown moulding, pendant/recessed lighting, SS appliances, a tile backsplash, a walk-in pantry, a center island, and a peninsula with a breakfast bar. Upstairs, the sizeable loft offers additional living space, ideal for a family room or play area. The main bedroom includes soft carpeting, walk-in closets, and an ensuite with dual sinks. Outside, the expansive backyard showcases a covered patio, a charming ramada, elegant pavers, a built-in BBQ, and a well-kept lawn, and breathtaking mountain view. Amazing community center has kids play pool, lap pool, climbing wall, gym, and more! This gem will sell fast!

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