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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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

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.

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!

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!

6584 E Shooting Star Way Scottsdale, AZ 85266

$695,000
3 Beds
2 Baths
1,673 SqFt
Status Active
MLS # 6753844
Property Type Single Family Residence
Price Type --
Embrace the charm of this 3 bedroom 2 bath beauty. Enjoy Arizona and all that Terravita Golf and Country Club Community has to offer. High ceilings, travertine flooring, spacious and bright great room, enhanced by a gas fireplace and open to the dining and kitchen. Well-appointed and expanded kitchen boasts abundant custom cabinetry, recessed & pendant lighting, stainless steel appliances, granite counters, and tile backsplash. You'll love the main retreat showcasing wood-look floors and complemented by the ensuite walk in closet, dual vanities and a separate shower and tub. 2nd bedroom can function as a den or office and is a passthrough to the 3rd bedroom addition. Relaxing backyard covered patio. Garage has plenty custom built storage. Energy saving home with an owned solar system.

8512 W Behrend Drive Peoria, AZ 85382

$695,000
2 Beds
2.5 Baths
2,203 SqFt
Status Active
MLS # 6757573
Property Type Single Family Residence
Price Type --
This stunning home is located in Westbrook Village, one of Arizona's most premier adult communities. Enjoy the sprawling floor plan w/ room to spread out, entertain & enjoy easy living. You'll appreciate all this home has to offer w/ vaulted ceilings, natural light, plantation shutters throughout and a gourmet kitchen featuring double ovens, gas cooktop, huge island and plenty of cabinet space. Cozy up in the Family & living room w/ a 2 way gas fireplace. The main bedroom offers a large walk-in closet, double sinks and beautiful shower. 3 car garage has expansive storage with built-in cabinets. Relax in your resort-style backyard w/ built in BBQ and ample outdoor living space. Thoughtfully upgraded in 2019 including water softener and tankless water heater, 2 stage 15 seer ac unit in 2024 Westbrook Village offers a wealth of amenities! 2 championship golf courses, driving range, club houses & restaurants. There is never a lack of activities with their 87 clubs. Enjoy billiards*bocce ball*horseshoes*dance*aerobics/yoga*crafts/hobby rooms*pickleball*tennis*RV parking*pools*fitness facility*ballroom and so much more! This home is the perfect combination of luxury and comfort. Come and see it and do not miss the opportunity to make this gorgeous home yours!

18187 E Via Jardin -- Gold Canyon, AZ 85118

$695,000
4 Beds
3 Baths
3,243 SqFt
Status Active
MLS # 6757344
Property Type Single Family Residence
Price Type --
This beautifully remodeled home is a true gem, featuring nearly two years of thoughtful updates throughout. The open kitchen shines with granite countertops, a large pantry, updated lighting, and hidden pop-up outlets that add both convenience and style. All bathrooms have been modernized with fresh shiplap, new countertops, and sleek fixtures, while the primary bathroom offers a luxurious escape with its tiled walk-in shower and clawfoot tub. Additional updates includes all new flooring, plantation shutters throughout and a high-end roll-down shade on the sliding door for extra elegance and functionality, full interior paint, crown molding, baseboards, and a fresh exterior paint job in August 2024. Step outside to a transformed backyard, complete with a... heated salt water pool, spa, gas fireplace, and a fully equipped outdoor kitchenperfect for entertaining. Located on a desirable corner lot with gorgeous views and extra privacy, plus a 3-car garage, this home is the total package!

10488 W Nosean Road Peoria, AZ 85383

$695,000
4 Beds
3 Baths
2,860 SqFt
Status Active
MLS # 6763141
Property Type Single Family Residence
Price Type --
This home features approximately 2,860 square feet of living space with four bedrooms, three full bathrooms, and two split family rooms. The interior features durable and easy-to-maintain hard-surface flooring throughout, and a bright, open kitchen with lots of counterspace and storage. The split master bedroom boasts his and hers walk-in closets, a luxurious bathroom, and direct access to the oversized laundry room. All major appliances are included! Outside, enjoy a large backyard with lush green grass, low-maintenance desert plants, and a generously-sized, paver patio. Two garages for three total cars both have direct access into the home. The solar panels are OWNED and paid-off; the school district is A- rated, and the location is close to shopping, great dining, and the 303 freeway.

1140 W Lakeridge Drive Gilbert, AZ 85233

$695,000
3 Beds
2 Baths
2,241 SqFt
Status Active
MLS # 6766368
Property Type Single Family Residence
Price Type --
Coveted Gilbert location in ''The Islands,'' these homes do not come available often, so take a look quickly!! This corner home has a beautifully landscaped front yard & private, perfectly sized backyard w/pretty pebble tec play pool. Covered patio is large enough for a table, BBQ & chaise lounges. This home lives large w/incredible vaulted ceilings t/o the front formal living & dining room as well as the centrally located great room. Plentiful beautiful oak cabinets are keepers or paint them as you desire. New tasteful granite--refrigerator, ovens & dishwasher are near new. Kitchen island & window above the sink w/a view to the yard & pool. Master bedroom/bath is HUGE & the closet amazing. Two spacious secondary bedrooms to suit your needs. Lg laundry room w/cabinets. Click ''more 3 car garage has a double & single door. Room for a work bench. Newer water heater & whole home water system. You can't go wrong with this home. Come see it, take a drive through the beautiful lake community & admire the many nearby amenities. Awarded school system, neighborhood eateries & shopping abound. Enjoy this superior location close to everything Valley of the Sun. Ease of highway transportation & convenient location to both Sky Harbor & Mesa Gateway airports.

1274 W Windhaven Avenue Gilbert, AZ 85233

$695,000
4 Beds
2 Baths
2,518 SqFt
Status Active
MLS # 6770512
Property Type Single Family Residence
Price Type --
Welcome to the Estates at North Shore! Prime Gilbert location, 5 min to DownTown Gilbert and freeway access. Upgraded single level house, over 2,500/sf with a 3 Car Garage. Beautiful kitchen cabinets, oversized island with granite countertops and stainless appliances (all included!). Open and bright popular floorplan. High-end hardwood flooring throughout. New interior/exterior paint, upgraded fixtures and shutters. Full 3 Car epoxy coated garage. Oversized backyard with extended patio. Shows pride of ownership. Turn key opportunity, must see in person to appreciate!

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