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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7301 E 3rd Avenue Unit 201 Scottsdale, AZ 85251

$695,000
2 Beds
2 Baths
1,303 SqFt
Status Active
MLS # 6771839
Property Type Apartment
Price Type --
Light and bright loft style condo with huge windows overlooking pool plus private outdoor balcony. Gorgeous wood floors, two large bedrooms on separate sides of the unit with large walk in closets and two updated bathrooms! Updated Kitchen opens to family room making this 1303 square feet seem like 2000 +! The 3rd Avenue Loft building is just steps from everything in Old Town Scottsdale! Walk to shops, museums and dining! Two assigned parking spots in the gated garage and a concierge daily on site to buzz guests/deliveries in through lobby door. Extra large assigned storage space in basement. One of the BEST locations in Old Town Scottsdale! Can be sold furnished on separate bill of sale! Hurry! Ideal floor plan and view!

2643 N 162nd Lane Goodyear, AZ 85395

$695,000
3 Beds
2 Baths
2,962 SqFt
Status Active Under Contract
MLS # 6708410
Property Type Single Family Residence
Price Type --
Stunning 3-Bedroom Home on the golf course in PebbleCreek. Welcome to your dream home located in the prestigious PebbleCreek community! This exquisite 3-bedroom, 2-bath residence is perfectly situated on a prime golf course lot, offering breathtaking views and an unparalleled lifestyle. Spacious Bedrooms: Enjoy the comfort of three generously sized bedrooms, including a luxurious master suite with a walk-in closet and a private en-suite bathroom featuring dual vanities and a spa-like shower. Outdoor Kitchen perfect for entertaining, overlooking the 18th fairway. Amenities, include championship golf courses, pools, fitness centers, and a vibrant social scene and 36 pickleball courts! This home has just been repainted with neutral colors, all brand new kitchen appliances and new grill on the outdoor kitchen.

22462 E Marsh Road Queen Creek, AZ 85142

$695,000
5 Beds
4 Baths
2,923 SqFt
Status Active Under Contract
MLS # 6709373
Property Type Single Family Residence
Price Type --
MOTIVATED Seller! Meticulously designed interior showcases wood-look tile flooring, stylish light fixtures/ceiling fans, & a bright den that can be used for work/play. Open-concept kitchen boasts a plethora of white cabinetry with crown molding, a huge walk-in pantry, glossy granite counters, and a large kitchen island to gather around. Cozy loft is ideal for a reading nook! Venture to the main retreat equipped with plush carpet, an ensuite with two vanities, & a walk-in closet. 2nd primary bedroom has a bathroom for convenience. Discover a tranquil backyard sanctuary adorned with a secluded pool and a fire pit offering an enchanting retreat for relaxation and rejuvenation A covered patio, pergola with a fire pit, artificial turf, and a sparkling pool complete this paradise. Don't let this amazing deal escape!

10260 E White Feather Lane Unit 2059 Scottsdale, AZ 85262

$695,000
2 Beds
2 Baths
1,646 SqFt
Status Active Under Contract
MLS # 6744706
Property Type Townhouse
Price Type --
GOLF COURSE, DESERT FLORA & FAUNA and ICONIC PINNACLE PEAK IN THE DISTANCE...ALL FROM THIS SECOND FLOOR TOWNHOME'S BALCONY! You've worked hard...now it's time to start relaxing and enjoying all that AZ golf course living has to offer! Savor a morning cup of coffee in your kitchen nook overlooking the 9th green of Troon North's top-ranked Monument course. Then it's time to hit the links, relax at the neighborhood pool, or get in a workout at the gym or on the pickleball courts. The evening is for cocktails with friends on your spacious second floor balcony with the sites and sounds of an Arizona nightfall as your backdrop. This move-in-ready, maintenance-free townhome will make every day feel like a vacation. Let's take a look at your new AZ home. Step into the cool-toned entry and take in this open-concept, entertaining-friendly floor plan. The welcoming family/dining area features bright windows, large sliders and a corner fireplace for ambience and cool nights. The kitchen offers stainless appliances, granite countertops and ample storage. Down the hall on the right, you'll find the den/office, set off by French doors, and two spacious bedrooms, each with a walk-in closet. There are two full bathrooms; the primary en-suite draws you in with a spa-like soaking tub, glass and tile shower and double sinks. Situated conveniently close to the bedrooms, is the laundry room with a spacious storage closet for your golf clubs and shoes, pickleball racquets and any other sporting goods you'll need. Finally, check out the two-car side by side epoxy coated garage with more storage. And, to keep your new space comfortable in every AZ season - a brand new HVAC system installed in January 2024. Start living your dream in this fantastic townhome at The Ridge at Troon North!

2102 N 7th Avenue Phoenix, AZ 85007

$695,000
4 Beds
3 Baths
2,820 SqFt
Status Active Under Contract
MLS # 6740598
Property Type Single Family Residence
Price Type --
INSTANT $80K IN EQUITY WHEN YOU PURCHASE AT LIST!!!! Beautiful Historic Home in the Encanto Historic District. This 1941 Home is on the National Historic Registrar. Open floor plan 4BD+Den 3BA on a large lot. *One bedroom is en suite w/possible kitchenette & has separate entrance! Perfect Casita for AirBnB or generational living! Wood & tile flooring throughout, original crown molding, resort-style backyard w/pergola, fire pit, pool, grass area & enclosed patio perfect for enjoying the outdoors w/friends! 2-car garage off alley for easy access. Walking distance to Encanto Park & Golf Course, Roosevelt Arts District, ASU Downtown campus, Chase Field, light rail & world-class dining & entertainment! Sky Harbor Airport & multiple freeways are all minutes away from your new home. Won't Last

11888 W Nadine Way Peoria, AZ 85383

$695,000
4 Beds
3 Baths
2,422 SqFt
Status Active
MLS # 6780268
Property Type Single Family Residence
Price Type --
Discover the perfect blend of luxury and functionality in this upgraded 4-bedroom, 3-bath home nestled in a sought-after gated community in beautiful Vistancia. With 2,422 sq. ft. of living space, this home features a pool, pristine hard-surface flooring, a 3-car air-conditioned garage with a car charger, RV gate, and insulated attic. A butler's pantry, water softener, reverse osmosis, putting green, and included major appliances add even more to love. Priced to sell, this home is a rare gem offering tremendous value and modern amenities. Come see it for yourself before it's gone!

7524 E Wildcat Drive Gold Canyon, AZ 85118

$695,000 - 2Br/2Ba -  for Sale in Mountainbrook Village, Gold Canyon
Open House
$695,000
2 Beds
2 Baths
1,857 SqFt
Status Active
MLS # 6750505
Property Type Single Family Residence
Price Type --
BEAUTIFUL mountain views from your private back yard! Enjoy relaxing in your quiet oasis with wildlife and the peaceful comfort of this lovely setting. PLUS: A THREE-CAR GARAGE, an extra-large laundry room, a home office with built-ins, lots of storage in the laundry room and garage. This is a special home, located in one of the most desirable areas of Mountainbrook Village. The Mountainbrook Village adult community has it all: Pickleball, pools, an exercise facility, a community center, as well as countless resident activities! Don't miss this opportunity to enjoy this private sanctuary of a home.

3529 E Morelos Court Gilbert, AZ 85295

$695,000 - 4Br/3Ba -  for Sale in Pecos Park 2, Gilbert
Open House
$695,000
4 Beds
2.5 Baths
2,607 SqFt
Status Active
MLS # 6775056
Property Type Single Family Residence
Price Type --
What a find! Don't miss the premium property in a premium Gilbert location on a premium cul-de-sac lot right next to community park. Rare 4 car double deep tandem garage with tons of garage cabinets! Lot of parking with deep driveway and covered parking spaces. Beautiful backyard with pool and BBQ area. Great floor plan with living and family rooms, staggered stained cabinets in kitchen with island and granite counter tops. Loft upstairs with three additional bedrooms. Oversized master suite with lots of floor space, master bath offers separate tub and shower, two sinks, and private toilet room. Big walk in closet. Fresh interior paint, new LED can lights, and two new ceiling fans.

2011 E Meadow Drive Tempe, AZ 85282

$695,000 - 3Br/2Ba -  for Sale in Santo Tomas Unit 1, Tempe
Open House
New
$695,000
3 Beds
2 Baths
2,302 SqFt
Status Active
MLS # 6783904
Property Type Single Family Residence
Price Type --
Time to make one of the rare Santo Tomas villas your own! Nestled in the Shalimar neighborhood, this 3 bed 2 bath PLUS office home is light and bright with character boasting indoor/outdoor living, a spacious kitchen, travertine tile, and dual pane windows throughout. The kitchen features granite countertops, a wine bar, large peninsula with breakfast bar and stainless-steel appliances. Enjoy private back patio access through double doors off the primary bedroom, which also features an ensuite bath with separate tub/shower plus a walk-in closet. Vaulted ceilings with wood beams add the charm and character you just don't see anymore. Enter the front arched gate into your tranquil garden with citrus trees and synthetic grass, a view you also have through the charming arched living room window. Cozy up in your outdoor living space next to the exterior wood burning fireplace or throw a party with your entertainer's grill and bar off the pool. Yet another exterior patio with kitchen and bedroom access features an RV gate/parking, so bring the toys! Out front you have options for parking with both covered spaces and a 2 car garage. Your office also offers private back patio access, making it the perfect work escape or home gym. All this and NO HOA! This home truly has it all and won't last long!

16800 E El Lago Boulevard Unit 1019 Fountain Hills, AZ 85268

$695,000 - 2Br/2Ba -  for Sale in Village At Towne Center Condominium, Fountain Hills
Open House
$695,000
2 Beds
2 Baths
1,898 SqFt
Status Active
MLS # 6775435
Property Type Apartment
Price Type --
Highly upgraded, GROUND FLOOR 2 b/2 bath condo with DEN (can be an office, 3rd bedroom, etc) located in the heart of scenic Fountain Hills. This idyllic home boasts a large 2 car garage, well designed gourmet kitchen with 14th level upgrade suede maple cabinets and tile backsplash, open, bright and sunny floorplan and an ideal view of the Fountain and Four Peaks from patio, primary and living room. Upgraded tile, wood floors & carpet in bedrooms only. Custom accent paint thru out. Both baths have Granitex vanity tops. All appointments are rich neutral earth tones. 2 car garage has epoxy floor and ceiling storage racks, but best of all, direct access to condo, all one level. Village at Towne Center is an upscale community with heated pool, hot tub and fitness center, GATED community.

1502 E Hermosa Drive Tempe, AZ 85282

$695,000 - 4Br/4Ba -  for Sale in Tempe Gardens Unit 4, Tempe
Open House
New
$695,000
4 Beds
3.5 Baths
2,356 SqFt
Status Active
MLS # 6783161
Property Type Single Family Residence
Price Type --
Welcome to this beautifully upgraded tri-level home, where modern amenities meet timeless charm. Recently renovated just 3 years ago, this home boasts a wealth of thoughtful improvements that make it move-in ready. As you step inside, you'll immediately notice the stylish entryway doors that set the tone for the rest of the home. The heart of the home is the spacious kitchen, featuring sleek quartz countertops, two generously sized pantries for ample storage, and new tile flooring that flows throughout. The fresh carpet in the living areas adds warmth and comfort, while the new windows invite an abundance of natural light, creating a bright and welcoming atmosphere. The master bathroom is a true retreat, showcasing a stunning updated design with quartz countertops and modern fixtures, offering the perfect space to unwind. Additionally, the home includes updated baths throughout, adding to the overall elegance and appeal. For those who work from home or need a little extra organization, the living area features a built-in office desk space, perfect for productivity and convenience. Step outside to your private oasis. In 2019, an above-ground spa was added, offering relaxation under the stars and out of the view of neighbors. A brand new cover was installed in 2024 for added protection and convenience. The expansive backyard features an RV gate, providing easy access for your toys or additional vehicles, and plenty of space for a storage shed, ramada BBQ area, or whatever your dream backyard looks like. The seller is offering Buyer concessions, making this the perfect opportunity to make this exceptional home your own. Don't miss out on this incredible find!

19285 E Domingo Road Queen Creek, AZ 85142

$695,000 - 4Br/2Ba -  for Sale in Lucia At Queen Creek, Queen Creek
Open House
$695,000
4 Beds
2 Baths
2,344 SqFt
Status Active
MLS # 6749702
Property Type Single Family Residence
Price Type --
VERY motivated seller. Welcome to your next chapter! This charming 4-bedroom, 2-bath home in Queen Creek offers a perfect blend of comfort and charm. Newly renovated with brand new shaker kitchen cabinets and quartz countertops, fresh flooring in the main living areas, and a completely replaced irrigation system, this home is ready to create new memories. Boasting 2,344 square feet of living space, this property ensures ample room for growth and creativity. Don't miss the dedicated bonus room—ideal for your home office or yoga studio! Step outside to your expansive outdoor space, complete with a gas fire pit and a hot tub, perfect for Arizona's magical evenings. The four car garage space provides room for all your toys, with a pull-through garage adding convenience with a touch of sophistication. Nestled in a friendly neighborhood, the house is a stone's throw from Mansel Carter Oasis Park, where the green expanses invite leisurely afternoons. Enjoy proximity to Schnepf Farms and Queen Creek Olive Mill, bringing the best local produce and cuisine right to your doorstep. With Queen Creek Marketplace and San Tan Mountain Regional Park nearby, every day can be a new adventure. Come see how this home is just the one you've been dreaming about.

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