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.”

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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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7378 W Whitehorn Trail Peoria, AZ 85383

$686,875 - 4Br/3Ba -  for Sale in Aloravita North Phase 3 Parcel 4, Peoria
Open House
$686,875
4 Beds
3 Baths
2,239 SqFt
Status Active
MLS # 6776424
Property Type Single Family Residence
Price Type --
Brand new, Multi Gen Floorplan-December completion! Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'Winchester Multi-Gen' floorplan features 4 full bedrooms, 3 bathrooms, with a separate living room and kitchenette, 2 Car-Garage and a private yard! Designer selected finish includes Birch Burlap Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 8' doors, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology.

3501 W Sunstone Drive San Tan Valley, AZ 85144

$686,425 - 3Br/3Ba -  for Sale in The Preserve San Tan - Unit 2a, San Tan Valley
Open House
$686,425
3 Beds
2.5 Baths
2,575 SqFt
Status Active
MLS # 6768895
Property Type Single Family Residence
Price Type --
This home design is the dream home you have been waiting for. Complementing the well-designed kitchen is an immense center island with breakfast bar, as well as plenty of counter and cabinet space and an enormous walk-in pantry. The spacious primary bedroom suite located off the great room offers a luxurious bath and impressive closet space. A private flex/den space extends the possibilities of this home, creating plenty of space for personalization.

1206 W J Waltz Way Apache Junction, AZ 85120

$686,116
5 Beds
3 Baths
3,234 SqFt
Status Active
MLS # 6781093
Property Type Single Family Residence
Price Type --
Discover the exceptional difference in your home-buying experience! Welcome to Mariposa at Blossom Rock, Imagine an open-concept floor plan featuring a warm and welcoming kitchen that flows into a bright, airy great room. This space opens up to your private, covered outdoor room - perfect for relaxing or entertaining. Convenience of the 3-car garage and a nice 8000 SQ FT Homesite. With 4 spacious bedrooms, 3 baths, a great room with a dining area, a flexible office space and separate hobby room, this home has everything! Plus, we're including $52,000 in stunning upgrades to make this home truly special, and we're offering special financing to help. Home completion is estimated in December 2024.

26415 S Recker Road Queen Creek, AZ 85142

$686,000
3 Beds
2 Baths
1,600 SqFt
Status Active
MLS # 6764925
Property Type Single Family Residence
Price Type --
Discover rural living at its finest! Located in Maricopa County's charming island area. This property boasts''*NO HOA** and tons of potential. The home has been thoughtfully updated, featuring modern plumbing throughout and a two-year new heat-pump that keeps the home very comfortable. The kitchen and bathrooms newly renovated, adding style and functionality. One standout feature is the **massive 980 sq ft shop** constructed with heavy duty steel framing. The shop's roof is set to be replaced a couple day after close of escrow. Ideal for entrepreneurs, no permits are needed to operate a business here! The leach field has been recently replaced and set for another 20 years of reliable use. Room for RV. Please Appt only. Dogs on property.

822 W Earll Drive Phoenix, AZ 85013

$685,900
3 Beds
3 Baths
1,956 SqFt
Status Active
MLS # 6734658
Property Type Single Family Residence
Price Type --
This 1992 home sits among beautiful historic homes in Campus Vista (Campus Manor) Historic District. All of the benefits of the location w/o the historic preservation restrictions!! Beautifully shaded front yard allows home to fit fairly seamlessly into streetscape. Seller's job has taken him out of state just after installing an owned solar system with Tesla battery backup, new water heater and water softener. Pleasing 3 way split 3 bedroom-3 bath layout. Hard surface flooring newly installed including hard wood and marble tile. Kitchen updated with new granite counters. Backyard and patio could be enlarged by pushing block wall 17 ft to back property line creating plenty of room for a pool/hot tub area. See professional pictures now posted!!

21108 N 58th Way Phoenix, AZ 85054

$685,890 - 3Br/3Ba -  for Sale in Talinn Phase 3, Phoenix
Open House
$685,890
3 Beds
2.5 Baths
1,962 SqFt
Status Active
MLS # 6781869
Property Type Townhouse
Price Type --
Ready to move in and kick back? This brand-new, quick-move-in townhome in Desert Ridge has everything you need—washer, dryer, fridge, and even backyard landscaping (yep, we did the hard part for you). With 3 beds, 2.5 baths, and a stylish, open layout, you'll love the quartz countertops, white cabinets, and sleek wood-like tile. Plus, enjoy 9-foot ceilings, smart home features, and no neighbors directly behind you—just a peaceful partial view fence in the backyard. Hurry, this one's moving fast—it's practically begging you to make it yours!

16914 E Britt Court Fountain Hills, AZ 85268

$685,800
3 Beds
3 Baths
2,094 SqFt
Status Active
MLS # 6776249
Property Type Single Family Residence
Price Type --
Your dream home in beautiful Fountain Hills awaits. Positioned on a premium lot, this exquisite property boasts unrestricted mountain and desert views. Just a short stroll from the iconic fountain, its famous park, and the Avenue of the Fountains promenade, you're at the heart of it all—local dining, shopping, and entertainment. Outdoor enthusiasts will love the nearby bike paths, hiking trails, and proximity to Saguaro lake. This well-maintained, single-owner home features a spacious open floor plan with 3 bedrooms, 2.5 baths, and an amazing outdoor space. Freshly painted with all new stainless appliances, it's move-in ready. Ideal as a primary residence, second home, or a lucrative rental. Priced to enable those personal customizations that make a house 'your home'. One not to miss! Be sure to drop by the resort-like community pool area with heated spa, large ramada, bbq, lounge chairs, bathroom and outdoor shower. Located just a short walk/drive south down Woodside Drive and at the end of the cul-de-sac on Peso Place. Enjoy views of the fountain and surrounding mountain views on your way. Spectacular!

7380 W Bent Tree Drive Peoria, AZ 85383

$685,789
4 Beds
3 Baths
2,185 SqFt
Status Active
MLS # 6746324
Property Type Single Family Residence
Price Type --
This WONDERFUL NEW 2024 home on a premium lot w/mountain views is OVERFLOWING w/over $89k of DESIGNER upgrades! Professionally landscaped front yard w/faux grass and paver driveway! BEAUTIFUL GOURMET kitchen w/gas cooktop, quartz countertops, waterfall island, urban cabinets + stainless appliance suite incl. fridge! Great room/dining room w/tons of windows! SPLIT primary bedroom suite w/LUXURIOUS ensuite bath w/ BIG walk-in shower! Bring your own backyard design to this PRIVATE backyard w/covered porch and create the oasis of your dreams! This property has too many upgrades to list here! Come see for yourself. Welcome HOME!

3031 E Cholla Street Phoenix, AZ 85028

$685,500
3 Beds
2 Baths
1,752 SqFt
Status Active
MLS # 6779331
Property Type Single Family Residence
Price Type --
Stunning recent remodeled home with an elegant kitchen featuring Calacatta Quartz counters, gas range & oven, self closing cabinets with pull out drawers, extensive white tile backsplash and peninsula island. All new luxury vinyl plank flooring and the Master bath was completely remodeled this year. An interior wall was removed to create an open floorplan rarely seen in this neighborhood. Don't miss the secluded small office for a quiet area for work or phone calls. The spacious rear yard features an updated pool with a new pump, large covered patio and grass yard. Energy efficient with newer dual pane windows and complete new attic insulation. The electric panel has all new breakers. The area sells itself with proximity to the freeway and local restaurant favorites. NO HOA

1716 W Caramel Court Queen Creek, AZ 85144

$685,045
4 Beds
3 Baths
2,331 SqFt
Status Active
MLS # 6693099
Property Type Single Family Residence
Price Type --
Home To-Be-Built on 1.25 Acre Lot & NO HOA. No Charge for the amazing view! This floor plan is an Absolutely Stunning 4 Bed (GUEST SUITE) & 3 baths! The incredible Gourmet kitchen will make you say Wow! Open concept kitchen to the great room and features 10 ft ceilings. Affordable Quality, 2x6 framing, spray foam insulation & 8' doors live large. The Gourmet kitchen includes Double Wall Ovens, 36'' Cooktop, Built-in Microwave. Select your 42'' Upgraded Cabinets color, Soft Close doors & Upgraded Granite or Quartz at all countertops & Tile in all the right places. Hurry to make changes to this plan. Want to add an office, gym, or bath? There are several layout choices available. Breaking ground soon. AFFORDABLE TURNKEY READY HOME! Check out the documents TAB for specifics.

14036 E Barbie Lane Scottsdale, AZ 85262

$685,000
4 Beds
3 Baths
2,446 SqFt
Status Active
MLS # 6712488
Property Type Single Family Residence
Price Type --
This Desert Charmer in Scottsdale. This 1 acre horse property is ideal for outdoor living & recreational enthusiasts, We have water access to epcor!!! This home has stunning sunsets & mountain views. This 4 bed/3 bath home is open, bright & very spacious. Large kitchen & breakfast room are open to family room. Room for a horse set up on the west side of the home. The perfect balance between wilderness & city living, w/near by access to hundreds of miles of hiking/horse trails, while still being close to fine dining & shopping. Best of all NO HOA.

363 E Windsor Avenue Phoenix, AZ 85004

$685,000
2 Beds
1 Bath
1,038 SqFt
Status Active
MLS # 6761383
Property Type Single Family Residence
Price Type --
The price reflects the spacious double lot and the options it creates...see Documents for details. This classic 1925 brick home is a perfect blend of original charm and modern infrastructure in Midtown on a quiet, neighborly, tree-lined street of 1920's- 1940's homes walkable to light rail. A generously sized kitchen with French doors opens to back yard. Enjoy the north-facing front porch on treed & quiet street. Restored original features include: wood floors, tiled bathroom, cove ceiling, doors & hardware, windows, and fireplace with built-ins. New infrastructure includes a/c unit, h/w heater, new wiring, gas and plumbing lines, & new sewer lines & Solar. A small basement houses the h/w heater and A/C so the attic is a blank slate ready for expansion! A wide north facing front porch overlooks a desert shade garden. A basement efficiently houses the hot water heater, a/c air handler and ductwork, leaving the large attic space as a blank canvas ready for your expansion plans where a second bathroom and additional living space can be created. A key aspect of this house is its double- size lot within the Infill Overlay District. What does that mean for you? This house and land can also serve as an investment vehicle if you wish to create one or several homes on the rear portion of the lot. The price reflects the value of the additional land at a discount as part of the overall sale rather than as a separate listing. The lot split process is underway with the intention of working with the buyer of this property to modify or customize the lot split plan before it its finalized. It's the best of both worlds - you can enjoy the unusually large yard, while having the flexibility of building on it down the road, selling it, or creating a family compound. Whatever your plans, it's a great location and brimming with possibility, and also enjoyable as it is. This block of Windsor is in the middle of the the largest contiguous walkable historic neighborhoods in Phoenix, Coronado and Willo Historic Districts. The Phoenix Country Club is two blocks away and a lovely place to stroll. The Windsor Oval Park is a couple of blocks to the East in Coronado. The midtown area is vibrant. New townhomes were recently completed at the end of the block and are selling for over $800K. Embry-Riddle University is building a new campus on nearby 7th street and Creighton University Health Sciences Campus recently opened a few blocks away. ASU downtown campus is growing and includes the Sandra Day O'Connor Law School, Thunderbird School of Global Management along with the University of Arizona College of Medicine and biomedical campus. Major medical centers and hospitals are within a 1- 2 mile radius.

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