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.

What’s Your Home Worth?

Search for Your New Home

22514 E Saddle Court Queen Creek, AZ 85142

$692,089
5 Beds
3.5 Baths
3,340 SqFt
Status Active
MLS # 6773965
Property Type Single Family Residence
Price Type --
Last opportunity to own a Tri Pointe Home in Madera, featuring a remarkable, new, two-story home loaded with designer selections. The kitchen has a gourmet appliance package with 30'' gas cooktop and wall oven, a 12' center pull sliding glass door, concrete gray honed countertops. custom backsplash, upgraded Delta touch faucet in matte black, Benton birch burlap cabinets with upgraded knobs, and more! Other highlights include a Diamond super single bowl sink in Cinder, a frameless walk-in shower with tile surrounds, a downstairs en-suite with a walk-in shower, upgraded stainless steel plumbing fixtures and rectangle sinks at all baths, upgraded maple mission stained stair rail, 2 inch faux wood blinds throughout, upgraded interior paint in Snowbound, and square drywall corners.

26428 N 22nd Avenue Phoenix, AZ 85085

$692,045
3 Beds
3.5 Baths
2,272 SqFt
Status Active
MLS # 6775288
Property Type Single Family Residence
Price Type --
Inventory home under construction with estimated completion in late 2024 . Our Serene Plan 491 features an open-concept great room, kitchen, and dining area, a spacious utility room and den downstairs, and private outdoor veranda. Upstairs, there are 3 bedrooms, including an owner's suite, with an expansive walk-in closet and 2 full baths. This home is professionally designed with quartz countertops in the kitchen and owner's bath, wood look tile floors, upgraded carpet and pad, gas cooking, and satin nickel faucets and hardware. The Retreat collection at Union Park features multiple parks, community pool, and rec center. Conveniently located with quick access to schools, shopping, restaurants, all the conveniences of urban living.

1020 N Lakepoint Way Flagstaff, AZ 86004

$690,999
3 Beds
2.5 Baths
2,028 SqFt
Status Active
MLS # 6771472
Property Type Townhouse
Price Type --
Enjoy elegance and tranquility in this Lakepoint townhouse. Remodeled in 2012, new roof in 2023, freshly painted outside 2024. A quaint community of 25 townhouses in a cul-de-sac. 3 bedrooms upstairs, 1 full guest bath, 3/4 bath in primary, & a half bath downstairs, AC, forced air gas heat, composite deck, engineered hard wood flooring in entryway, living room, and loft, with tile flooring in kitchen & upstairs baths, with carpeting in all bedrooms. Plantation shutters on most windows with plenty of windows to allow the abundant Arizona sunshine in.

44619 N 44th Drive New River, AZ 85087

$690,792
4 Beds
2.5 Baths
2,745 SqFt
Status Active
MLS # 6756292
Property Type Single Family Residence
Price Type --
Welcome home to the popular Martina floorplan. This home welcomes you with an inviting courtyard, inside you'll find a split floorplan with 3 generously sized secondary bedrooms and walk in closets, a retreat in nestled in between these secondary bedrooms to use as an office, den, playroom or second living space. This home is architecturally upgraded with a gourmet kitchen, owners bath oasis featuring a drop in soaking tub, and a 12 foot center sliding glass door drawing you into the backyard. Designer features create a clean and timeless feel, such as warm wood plank tile flooring, neutral light gray colored cabinets, bright white subway backsplash and quartz countertops to finish off this highly upgraded home.

5100 E Rancho Paloma Drive Unit 2070 Cave Creek, AZ 85331

$690,000
3 Beds
2 Baths
2,074 SqFt
Status Active
MLS # 6772385
Property Type Apartment
Price Type --
Nestled in the secluded luxury enclave of Rancho North Condos, this exquisite FULLY FURNISHED 3 bedroom, 2 bathroom corner unit on the upper level offers unparalleled elegance and comfort. EVERYTHING IS INCLUDED except the vehicle in the garage!! Step inside and be greeted by the spacious open concept floor plan, adorned with soothing neutral tones and wood-like plank tile flooring in all the right places. The bright and airy great room features a double glass slider leading to the desirable balcony, where you can relax and enjoy views of the courtyard and distant resort-style community pool, all with the convenience of automated shades. The chef's eat-in kitchen is a culinary delight, boasting top-of-the-line stainless steel appliances, including a gas cooktop, elegant white cabinets, gorgeous granite countertops, and an oversized center island with a breakfast bar. Entertain guests effortlessly in the adjoining dining area and great room. Retreat to the primary suite, offering a lavish ensuite bathroom with dual sinks, a glass-enclosed walk-in shower with custom tile surround, private toilet, and a large walk-in closet. Two spacious secondary bedrooms, one currently being used as a game room, and a full guest bath provide ample space for family or guests. Convenience meets luxury with the well-equipped laundry room, complete with cabinets and a utility sink, and the attached 2-car garage featuring an exotic epoxied floor and plenty of built-in storage cabinets. Located within the highly desired Cave Creek Unified School District, this residence offers not just a home, but a gateway to spectacular mountain and Sonoran desert views. Nearby, you'll find world-class shopping, golf courses, hiking trails, horseback riding, and a variety of outdoor recreation opportunities. Community amenities abound, featuring a resort-style pool and spa, shade structures, barbecues, scenic walking paths, and a fitness center. Experience the epitome of luxury living at Rancho North Condos. Seller is motivated and will consider all offers!

3058 E Spring Wheat Lane Gilbert, AZ 85296

$690,000
3 Beds
2 Baths
1,694 SqFt
Status Active
MLS # 6738556
Property Type Single Family Residence
Price Type --
This beautifully sought after Warner Groves at Morrison Ranch residence is an upgraded 3-bedroom, 2-bathroom home that offers a perfect blend of modern upgrades and comfortable living. As you step inside, you'll immediately notice a warm and inviting atmosphere. There is a massive amount of storage everywhere. You will love the gourmet kitchen that includes cappucino stained Maple staggered cabinets, granite counters and backsplash, and stainless appliances. The bedrooms are cozy with like new carpeting, while the rest of the home features tile flooring. The primary bedroom boasts a huge walk-in shower and closet. The perfect entertaining backyard boasts with a large built-in BBQ, bar area, pergola, relaxing firepit, and putting green. Located in the highly rated Highland School District You'll also appreciate the convenience of being close to freeways, shopping, and top restaurants at the Epicenter at Agritopia. Don't miss out on this exceptional home in Warner Groves at Morrison Ranch. Schedule a showing today and experience all it has to offer!

7228 E Buena Terra Way Scottsdale, AZ 85250

$690,000
2 Beds
2 Baths
1,620 SqFt
Status Active
MLS # 6756177
Property Type Townhouse
Price Type --
Discover the charm of this newly UPDATED, single-level townhome featuring spacious rooms & a 2 car garage, perfect for a second home retreat or year-round living. Step into a modern oasis with BRAND-NEW kitchen cabinets, counters, fixtures, lighting, a NEW AC unit, new carpeting throughout & more. The family room is a cozy haven with its wood-burning fireplace & vaulted ceiling, creating an inviting & open atmosphere. Spend your evenings unwinding on the private covered patio w/beautiful outdoor lighting to add to the ambiance. This GATED community features nice amenities: heated pool, spa, & tennis court. Centrally located near UPSCALE shopping, FINE dining, & SCENIC outdoor recreation paths, find your dream lifestyle here! Can be purchased FURNISHED w/ separate bill of sale.

4321 E Desert Sky Court Cave Creek, AZ 85331

$690,000
4 Beds
3 Baths
2,412 SqFt
Status Active
MLS # 6776147
Property Type Single Family Residence
Price Type --
Beautiful family home (or rental) in gated community of Dove Valley Ranch. Enjoy the private resort style backyard backing to a wash, covered patio, sparkling pool with water fall and hot tub. Interior features wood laminate flooring, carpeting in 2 bedrooms. Stone Creek built in desks & Murphy bed for your home office. Granite kitchen counters, stainless steel appliances & beautiful chandeliers, vaulted ceilings with beautiful CROWN MOLDING in all the right places. Enjoy golf in the public golf courses of Dove Valley Ranch. Leased SOLAR PANELS. Built in garage cabinets. New Water heater 2022. equipment on built in desks is for the solar panel.

30605 N 25th Drive Phoenix, AZ 85085

$690,000
4 Beds
3 Baths
2,118 SqFt
Status Active
MLS # 6772704
Property Type Single Family Residence
Price Type --
This exceptional single-level home is situated on a prime lot with stunning mountain views. Offering 4 spacious bedrooms, an office, and 3 bathrooms, this residence is the epitome of luxury living. The backyard boasts a PebbleTec pool with a water feature, a travertine patio, and a built-in BBQ, ideal for entertaining. Builder upgrades include a 3-panel sliding door, custom kitchen cabinetry, walk-in showers in both the guest and primary baths, and a well-appointed laundry room. Additional features include an EV charger in the garage, a water softener, and more. A perfect blend of elegance and comfort.

13051 W Big Oak Street Peoria, AZ 85383

$690,000
2 Beds
2 Baths
2,193 SqFt
Status Active
MLS # 6777668
Property Type Single Family Residence
Price Type --
Check out this barely lived in home, nestled on a serene, mountainside, cul-de-sac street, in the 55+ community of Trilogy at Vistancia. Charming stone accents grace the exterior, adding character and elegance. The welcoming private courtyard beckons for you to grab a cup of coffee or glass of wine and enjoy the beautiful weather the fall and winter bring to Arizona. The bright and open floorplan seamlessly connects the living room, dining room and kitchen. The large den doubles as a 3rd bedroom with a queen size Murphy Bed, office wing and small library with double doors for your guest's privacy. 2.5 car garage, and beautiful backyard complete this stunning home. Recently updated with new lighting, newer carpet in bedrooms and tankless water heater and new AC units in 2019 & 2020.

1925 Crossroads -- Prescott, AZ 86305

$690,000
3 Beds
2 Baths
1,950 SqFt
Status Active
MLS # 6779040
Property Type Single Family Residence
Price Type --
Experience unparalleled beauty and privacy in this custom-remodeled 3 Bedroom/2 Bath Forest Trails retreat, where nature's artistry surrounds you. Nestled among majestic boulders and lush, mature landscaping, this corner-lot sanctuary is bathed in natural light from expansive windows, creating a warm, inviting ambiance in every room. Several updates throughout ensure modern comfort such as stainless appliances, TREX decking, AC, Security System, Anderson Vinyl Windows, & newer interior & exterior paint, while connecting you to the tranquil outdoors. Embrace the unique fusion of luxury and nature—your private oasis awaits, a perfect balance of serene seclusion and striking beauty.

11291 E Jenan Drive Scottsdale, AZ 85259

$690,000
3 Beds
2 Baths
1,566 SqFt
Status Active
MLS # 6782108
Property Type Single Family Residence
Price Type --
Don't miss this gorgeous and TOTALLY remodeled home situated on a dreamy low-maintenance lot with a pool! Soaring ceilings and an open floor plan are just the beginning. A true chef's kitchen features high-end stainless steel appliances and luxurious quartz countertops, white shaker cabinetry and a new kitchen island! This stylish home has it all... including cozy brick, natural wood-burning fireplace, wood-plank tile flooring, an energy-efficient Air Conditioner (2023) a NEW roof (2023)! The resort-quality primary suite boasts an opulent 16' tall custom marble & subway tile shower. It also flaunts new vanities, water conserving plumbing fixtures and a separate entry to luxurious backyard. Totally-remodeled and ready to delight the pickiest of buyers. Prime N/S exposure. Great location!

Leave a Reply

Your email address will not be published.