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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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!

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!

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.

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.

1367 E Verde Boulevard San Tan Valley, AZ 85140

$695,000 - 2Br/3Ba -  for Sale in Shea Homes At Johnson Farms, Neighborhood 3 201209, San Tan Valley
Open House
$695,000
2 Beds
2.5 Baths
2,247 SqFt
Status Active
MLS # 6687159
Property Type Single Family Residence
Price Type --
*** STUNNING, MINT CONDITION, MOVE-IN READY... SINGLE-STORY BEAUTY!!!*** Don't miss this GORGEOUS, METICULOUSLY MAINTAINED home in the highly sought-after ENCANTERRA community. This OPEN FLOOR PLAN features 2 MASTER SUITES w/2 BATHS, Large 1/2 BATH...PLUS a LARGE BONUS ROOM...ideal for FORMAL DINING, OFFICE or DEN!! Absolutely LOADED w/ UPGRADES including GOURMET KITCHEN W/ GRANITE COUNTER TOPS, STAINLESS STEEL APPLIANCES ...including LG 4-Drawer fridge w/ CRAFT ICE MAKER...BOSCH DISHWASHER & CUSTOM CABINETRY. PLANTATION SHUTTERS & WOOD-LOOK TILE FLOORING THROUGHOUT. Finishing touches include SPACIOUS COVERED PATIO w/ MISTER SYSTEM...and a FULLY AIR CONDITIONED, 3-Car TANDEM GARAGE w/ EPOXY FLOORING, CUSTOM STORAGE CABINETRY, WORKSHOP AREA & EXTRA REFRIGERATOR!! HURRY...THIS WON'T LAST The award-winning Encanterra Community offers SOMETHING FOR EVERYONE... featuring amazing amenities including a 60,000 sqft La Casa club house with restaurants, wine room, cafe, two outdoor pools, spa, indoor pool, exercise rooms, billiards and poker lounge and so much more. In addition, you'll find four tennis courts and pickle ball courts, bocce courts and more...including a beautiful Tom Lehman-designed 18-hole golf course!!

23807 S Angora Drive Sun Lakes, AZ 85248

$695,000 - 2Br/2Ba -  for Sale in Sun Lakes Unit 45a, Sun Lakes
Open House
$695,000
2 Beds
2 Baths
1,842 SqFt
Status Active
MLS # 6767203
Property Type Single Family Residence
Price Type --
AMAZING GOLF & WATER VIEWS! Sedona model w/ 2 bedrooms + 2 Baths & full 3 CAR Garage in the GATED, ADULT COMMUNITY of Oakwood! Beautiful entry to OPEN GREAT ROOM lined with windows to enjoy the expansive EAST FACING golf views. TILE FLOORS, Vaulted Ceilings, NEWER WINDOWS & UPDATED Kitchen/Baths. The Kitchen features 42'' CABINETS, NEWER STAINLESS appliances, EAT-UP bar + office area w/CUSTOM BUILT-INS. The SPACIOUS PRIMARY Suite has double sinks, TILED Walk-In Shower + Tub & WALK-IN CLOSET. Plenty of storage in laundry & 3 CAR Garage w/NEW Cabinets. FRENCH DOORS lead outside to the PAVER COVERED patio overlooking breathtaking views from Sonoran # 4. Come Enjoy Sun Lakes with its amenities including golf, tennis, pickleball, pools, fitness center, clubs, social activities & restaurants.

669 Star Rock Drive Prescott, AZ 86301

$695,000 - 5Br/4Ba -  for Sale in Yavapai Hills 3, Prescott
Open House
$695,000
5 Beds
4 Baths
2,763 SqFt
Status Active
MLS # 6775553
Property Type Single Family Residence
Price Type --
NEW PRICE! $695,000! This unique property features a 2284sf main floor PLUS a private 478sf studio suite with bedroom, living area, full bath and kitchenette totalling 2763 sq ft! As you walk through this home, notice the bamboo wood floors, vaulted ceilings, large picture windows to take in some beautiful views. The main floor features an oversize living room with gas fireplace plus a separate family room/den right off the kitchen and a for easy kitchen access, plus an independent dining room! 4 bedrooms, 3 baths, a large laundry room and a 2 car attached garage! Bedroom 4 has minisplit heat and cooling. Trex decking on both the front and back decks for nearly maintenance free outdoor living while enjoying the beautiful Prescott forest views. There is so much this home has to offer!

22338 N O Sullivan Drive Maricopa, AZ 85138

$695,000 - 5Br/3Ba -  for Sale in Phase Ii Parcel 14 At Rancho El Dorado, Maricopa
Open House
$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!

17149 W Middlebury Street Surprise, AZ 85388

$694,995
4 Beds
2.5 Baths
2,019 SqFt
Status Active
MLS # 6782309
Property Type Single Family Residence
Price Type --
This wonderfully designed Toll Brothers home is Move In Ready. Our Carlyle, 4 bed 2.5 bath, 2 car, will not disappoint. The bright foyer sets the perfect mood, offering plenty of natural light and flowing effortlessly into the rest of the home. The large laundry room and powder room are nestled right off the garage entry for convenient access. Overlooking the great room and accompanied by a casual dining area, the gorgeous kitchen is equipped with stunning Whirpool appliances connected to the wraparound counter space and a sprawling central island. Immerse yourself in the stunning primary bedroom suite that features a lavish bathroom and an immaculate walk-in closet. The extended garage provides additional storage and convenient parking for additional vehicles.

7538 W Honeysuckle Drive Peoria, AZ 85383

$694,990 - 4Br/3Ba -  for Sale in Aloravita South Parcel 8b, Peoria
New
$694,990
4 Beds
3 Baths
2,264 SqFt
Status Active
MLS # 6783372
Property Type Single Family Residence
Price Type --
Special Financing Available!!!!!!!!!!! This single-level home features a spacious open floorplan shared between the Great Room, kitchen and dining room, while a more formal living room situated off the foyer offers a versatile space that could easily be converted into a study. A generous covered patio makes indoor-outdoor living and entertaining simple. Four bedrooms complete this home.

25919 N 23rd Avenue Phoenix, AZ 85085

$694,990
3 Beds
3 Baths
2,618 SqFt
Status Active
MLS # 6718323
Property Type Single Family Residence
Price Type --
This Spanish style Pinnacle floorplan with covered front porch and pavers offers a 2-story Floorplan with 2618 square feet, 4 bedrooms, 3 bathrooms and a 2-car garage. This is our only floorplan with a bedroom and full bathroom on the main floor. Open concept great room with kitchen featuring stainless steel appliances including 5 burner gas cooktop, under cabinet microwave/hood combo, wall oven and microwave and dishwasher against charcoal stained shaker style cabinet. Cabinet extras throughout including trash/recycling pullout, champagne bronze cabinet hardware, and more. Quartz countertops and tile backsplash in kitchen. 8' interior doors, 4-1/4'' baseboards throughout. 4-foot gate at rear of side yard. Gas stub for BBQ at side yard. Modified master bath; includes walk-in shower with linen closet and executive height vanities with shaker style cabinets. Shower to include clear glass enclosure and cultured marble surrounds. Electrical upgrades include ceiling fan prewire, separate switch pendant light prewires over kitchen island, upgraded vanity lights and more. 6x36 ceramic tile throughout first floor, and in laundry and secondary bath. Primary bathroom to include 12x24 tile. Upgraded carpet and pad on stairs, in loft and bedrooms. Low voltage and plumbing upgrades throughout. And so much more! Union park offers Tree-lined streets, pedestrian-friendly sidewalks and a 5,500 sf recreation center with resort style pool an kiddie pool, shaded ramadas, parks, gathering areas, pickleball courts and basketball. Close to I-10, 101 and 303. Walking distance to restaurants, movies, entertainment and shopping.

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