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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19014 W Ocotillo Road Waddell, AZ 85355

$694,990
4 Beds
2.5 Baths
2,713 SqFt
Status Active
MLS # 6739962
Property Type Single Family Residence
Price Type --
WAITING FOR YOU TO MOVE-IN!!! It's the beautiful Granada floor plan with 4 bedrooms, 2.5 baths. Very spacious floor plan with a 12x8 sliding glass door off the extended covered patio. Pavers at drive, walk and entry. Stainless steel gas appliance package with a 36'' cooktop, wall oven, microwave. Sonoma Maple Linen-off white cabinets with matte black T-bar hardware, 42'' kitchen uppers, pull out trash drawer with two bins. Upgrade flooring includes EMS-Ravenna Olmo 7x22 plank tile in all areas of the home except bedrooms and closets. 5'' upgraded baseboards and 3 1/4 door casings throughout. Soft water loop, gas stub for future BBQ. Two tone interior paint - ''whiskers''. Garage service door, 8' tall garage door with two openers and so much more.

25928 N 22nd Lane Phoenix, AZ 85085

$694,990
3 Beds
2.5 Baths
2,567 SqFt
Status Active
MLS # 6758375
Property Type Single Family Residence
Price Type --
Located across from Heirloom Park, this Alta floor plan offers stylish curb appeal with the Spanish Farmhouse elevation, pavers at the walkway and driveway, and front yard turf and desert landscaping package. The interior features 2567 square feet on 2 levels, 3 bedrooms 2.5 bathrooms, and 2 car garage. Open concept floorplan with 9-foot ceilings and 8-foot doors. The kitchen features quartz countertops, silver grey painted shaker style cabinets with matt black hardware, stainless steel gas 5-burner cooktop, under cabinet hood, wall oven and microwave and 5 cycle dishwasher. Primary with on-suite bathroom featuring modified shower with marble surround, matching shaker style cabinets, and walk-in closet. Spacious laundry room located upstairs near bedrooms. Split concept bedroom layout with 2 bedrooms and a full bath on the opposite side of the upstairs loft from the primary suite. 6x36 natural wood look tile and upgraded carpet and pad. Ceiling fan prewires in bedrooms and pendent light prewires with a separate switch over the island in the kitchen. There is also a 4-panel sliding glass door to the side yard and gas BBQ stub. Tree-lined streets, pedestrian-friendly sidewalks, and a 5,500 sf recreation center with resort-style pool and kiddie pool, shaded ramadas, parks, gathering areas, pickleball courts and basketball. Close to I-17, 101, and 303. Walking distance to restaurants, movies, entertainment, and shopping.

7601 W Smoketree Drive Peoria, AZ 85383

$694,990
4 Beds
3.5 Baths
2,998 SqFt
Status Active
MLS # 6773432
Property Type Single Family Residence
Price Type --
''Discover the perfect blend of style and functionality in this stunning Daisy plan, a spacious 2-story home featuring 4 bedrooms and 3.5 baths. Step inside to find a welcoming den on the main floor, ideal for a home office or quiet retreat. Upstairs, the versatile loft offers extra living space, perfect for gatherings. The heart of the home showcases a modern kitchen with elegant grey cabinets and a striking white sand quartz island, perfect for entertaining or casual dining. Extra touches abound with brushed nickel bathroom fixtures, 8-foot doors, and a beautifully crafted mission staircase rail that adds a touch of sophistication as you walk upstairs. The center sliding door opens to a covered patio, seamlessly extending your living space outdoors. Additional highlights include a spacious 3-car tandem garage and a lovely paver driveway that enhances the home's curb appeal. With its craftsman elevation and thoughtful design, this home is ready to welcome you

42177 N Cutbow Trail San Tan Valley, AZ 85140

$694,990 - 4Br/4Ba -  for Sale in Edgewood Estates, San Tan Valley
Open House
$694,990
4 Beds
3.5 Baths
2,744 SqFt
Status Active
MLS # 6734842
Property Type Single Family Residence
Price Type --
Ready for a December 2024 MOVE_IN!! ***Be in your new home for the Holidays!!!***Welcome to Edgewood Estates conveniently located in the Queen Creek Corridor. Discover this stunning home featuring a spacious great room and gourmet kitchen with a large island, perfect for entertaining. With 4 bedrooms and 3 baths, including a luxurious primary bath with a resort-like shower and freestanding tub. Additional highlights include a media room, home office, and a 3-car tandem garage. This home combines elegance and functionality, offering a stylish and versatile living space for every need. ^^^Homes have been significantly discounted and have the option of short/long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply. Additional eligibility and limited time restrictions apply

13635 W Calavar Road Surprise, AZ 85379

$694,990 - 5Br/3Ba -  for Sale in Litchfield Manor Parcel 7, Surprise
Open House
New
$694,990
5 Beds
3 Baths
4,119 SqFt
Status Active
MLS # 6784309
Property Type Single Family Residence
Price Type --
Your DREAM home is here in the desirable Litchfield Manor! This gorgeous property has all the bells & whistles. Starting with 5 beds, 3 baths, a 3-car tandem garage, and a delightful low-care landscape. Just off the front entry, you'll find a versatile den and a formal dining room! Continue onto the desirable great room paired with a media center, pre-wired surround sound, tons of natural light, and French doors to the back. The impressive kitchen boasts sleek SS appliances w/wine cooler, granite counters, recessed lighting, a tile backsplash, a center island, and a breakfast nook w/sliding doors that open to the courtyard. The large pantry and plethora of cabinetry ensure ample storage. One bedroom & one bathroom complete the downstairs. Head upstairs to find the other bright bedrooms! Also including a large loft, providing extra space for an entertainment area. The spacious, double-door owner's suite is a true retreat! Its ensuite has two vanities, a soaking tub, a separate shower, & two walk-in closets. Laundry room with attached cabinetry for convenience. Beyond the interiors, the backyard oasis holds its own charm! Designed for relaxing & entertaining, this space offers a full-length covered patio, a hot tub under the Gazebo, and a refreshing pool w/rock waterfall for year-round enjoyment. See it! Love it! Live it!

2930 Glenview Court Sierra Vista, AZ 85650

$694,900
2 Beds
2 Baths
3,068 SqFt
Status Active
MLS # 6776601
Property Type Single Family Residence
Price Type --
Magnificent 3068SF, Very Private Walston Custom Golf Course Property on 12th Fairway w/amazing Mountain Views on cul-de-sac!!! Lovely entrance to your Open Concept Living w/Full-Length Outdoor Views, 2x6 Construction/10-foot Ceilings, Quartz & Stainless Gourmet Kitchen w/upgraded cabinets/appliances, food warmer, pot filler, porcelain sink, under cabinet lighting...Built-in marble-top China cabinet...Bay window w/window seat/storage overlooks golf course...Eat-In Area, Formal Dining, Gas-Log/Stone FP w/Granite Hearth...Amazing MBR Suite w/Luxury Bath/HUGE Walk-in...Cozy 2nd Bedroom & Ensuite, 3rd BR is Dual Office w/Built-in Desks...HUGE Laundry Room...Custom & Stunning tilework/accents throughout...Oversized/Deep 3-Car Garage...Plus, H&C BONUS Room!!! THIS IS A MUST-SEE PROPERTY!!!

4910 N 128th Lane Litchfield Park, AZ 85340

$694,900
4 Beds
3 Baths
2,912 SqFt
Status Active Under Contract
MLS # 6755197
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the exclusive gated community of Wigwam South Vintage. This stunning single-level residence offers the perfect blend of elegance and comfort, featuring 4 spacious bedrooms and 3 beautifully appointed full baths. As you step inside, you'll be greeted by a seamless flow of sophisticated living spaces, highlighted by all-new gorgeous granite countertops in both the kitchen and baths. The kitchen is a chef's delight, boasting ample counter space, modern appliances, and a stylish design that makes cooking and entertaining a pleasure. The expansive living areas are designed to impress, with high ceilings and large windows that fill the space with natural light. The bedrooms and closets are spacious as are the living room and office/den area.

13944 N 88th Place Scottsdale, AZ 85260

$694,900
3 Beds
2 Baths
1,369 SqFt
Status Active
MLS # 6772846
Property Type Single Family Residence
Price Type --
SELLER IS OFFERING BUYER CONCESSIONS with a competitive offer! Discover the stunning beauty of this Scottsdale home, exuding charm with its fresh exterior paint that enhances its curb appeal. Step through the entryway adorned with designer tile, setting the stage for the open family room that seamlessly flows into a chef's dream kitchen. Here, new cabinets, gleaming quartz countertops, a stylish tile backsplash, and upgraded appliances await. The informal dining area features a sliding door leading to a screened patio and inviting pool, perfect for relaxation. The luxurious primary suite offers a spacious walk-in closet and an elegant double sink vanity, while secondary bedrooms share a beautifully updated bath. Every inch of this home shines with all-new LVP flooring, patterned carpet and modern fixtures, making it a true gem!

8894 W Garnet Mountain Drive Casa Grande, AZ 85194

$694,900
4 Beds
2 Baths
2,353 SqFt
Status Active Under Contract
MLS # 6739670
Property Type Single Family Residence
Price Type --
Wow! Gently lived in, single story, 2 year old, 4 bedroom house with a beautifully landscaped yard on 1+ acre on private lot in Casa Grande. Low HOA fee. Mountain views - even has a putting green and hot tub. No carpet, large kitchen, open concept, double slider in great room with views of the mountains & back yard, split floor plan with sizable bedrooms and dual sinks in both bathrooms. Modern color schemes and tile flooring perfect for pets or kids! 4 car garage with storage units and an RV gate with driveway to the gate and behind the gate - great for toy storage. If you're looking for a large home with lots of space, come see this today! Conveniently located to Freeway and Casa Grande mod-cons.

9762 E Research Avenue Mesa, AZ 85212

$694,850
4 Beds
3 Baths
2,474 SqFt
Status Active
MLS # 6742774
Property Type Single Family Residence
Price Type --
Welcome to this beautiful Lennar NextGen home in Eastmark! The main home has 3 bedrooms and 2 bathrooms and the casita, 1 bedroom, 1 bathroom, a living room, a stackable washer and dryer, and a full kitchen! The great room has beautiful wood-looking tile, a modern ceiling fan, and surround sound. You will love the upgraded shutters throughout! The kitchen offers quartz countertops, stainless steel appliances, and pendant lighting over the island breakfast bar. The primary suite has an ensuite bathroom with a large shower, dual sink vanity, and 2 walk-in closets. The remaining bedrooms are move-in ready with shutters and a ceiling fan. The backyard is cozy with an above-ground spa, a covered patio with a ceiling fan and a covered extension. Additional features include a shed, screens on the windows, prewired for surround sound, garage flooring is epoxied and finished with cabinets. Do not miss out on this home! Eastmark is an amenity-rich community offering its residents a resort-style community has a pool that's heated, a kid recreational center, a splash pad, lakes, and a farmers' market.

4283 E Bernice Street Gilbert, AZ 85295

$694,180
3 Beds
3.5 Baths
1,869 SqFt
Status Active
MLS # 6773948
Property Type Single Family Residence
Price Type --
This beautiful Cavalcade plan, 1869 is our most popular plan of our Seaboard Homes, Beautifully laid out with 3 bedroom and 3.5 baths and spacious great room and open gourmet kitchen. The master bedroom has a French door to a large covered patio and features a roomy walk in closet and a beautifully master bath highlighted by a gorgeous spa shower. Beautiful wood look - Luxury Vinyl Plank flooring shows off the wonderful great room which opens to the outside with an expansive 16'' atrium glass door. The gourmet kitchen features upgrade cabinets with upgraded crown molding. The Quartz countertops are highlighted by the upgraded tile backsplash. This home shows like a dream!

34327 N Sandpiper Trail San Tan Valley, AZ 85144

$694,161
3 Beds
2.5 Baths
2,553 SqFt
Status Active
MLS # 6726633
Property Type Single Family Residence
Price Type --
Welcome to this gorgeous home in Emblem at Oro Ridge boasting a well thought out great room floorplan, and a 3 car tandem garage with service door! The gourmet chefs kitchen is stunning with quartz countertops, a waterfall kitchen island with a breakfast bar, Urban Coffee Cabinets, stainless steel appliances, and a pantry. The primary suite is spacious with a lavish ensuite featuring a dual sink vanity, walk-in shower, and a walk-in closet. Bedrooms 2 and 3 are spacious! Plus a den! The backyard is huge!

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