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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6758 W Firebird Drive Glendale, AZ 85308

$679,000
4 Beds
3 Baths
2,524 SqFt
Status Active
MLS # 6763104
Property Type Single Family Residence
Price Type --
This Is It! Beautiful Home In Sierra Verde Community! 4 Beds + Bonus Room, 3 Baths, 2 Car Garage, Formal Living Room w/Plantation Shutters & High-Vaulted Ceiling, & Inviting Family Room That Opens To The Kitchen! Natural Light Filled The Interior, Complemented By Designer Paint, Tile, Etc. Gourmet Kitchen w/SS Appliances, Granite Counters, Recessed Lighting, Updated White Cabinets, Island, Breakfast Bar, & Bay Window In Dining Area. 1 Bedroom/Bath Downstairs, Upstairs Main Bedroom w/Bonus Room Perfect For Office/Gym, Remodeled Shower & Walk-In Closet. Oversized Corner Lot, Tons Of Privacy From The Mature Trees, Entertainer's Backyard w/Extended Covered Patio, Grassy Area, Storage Shed, & Sparkling Pool! Community Lake, Playgrounds, Basketball Courts, Close to 101 Freeway! N/S Exposure!

16205 N Zane Grey Ln Lane Fountain Hills, AZ 85268

$679,000
3 Beds
2 Baths
1,680 SqFt
Status Active
MLS # 6765911
Property Type Single Family Residence
Price Type --
This stunning corner-lot home features a pool surrounded by mature landscaping and fruit trees. The updated kitchen is a chef's dream with cabinetry, newer stainless steel appliances, and granite countertops. The open-concept living room has a cozy stone fireplace and flows into the dining area, perfect for entertaining. Tile flooring is throughout, with carpet in two bedrooms. The primary suite boasts a private exit to the backyard, a luxurious en-suite bath, and a walk-in closet. A new AC unit was installed in August 2024. The home also includes a side-entry 2-car garage with EV wiring. Seller is related to listing agent.

11122 E Sleepy Hollow Trail Gold Canyon, AZ 85118

$679,000
3 Beds
2 Baths
1,854 SqFt
Status Active Under Contract
MLS # 6679120
Property Type Single Family Residence
Price Type --
This home is in a great location in Gold Canyon a corner acre lot with NO HOA and has incredible views of the Superstition Mountains! The main house has 2 full bedrooms, a den and a loft that could be converted for an additional bedroom if desired! Plus, there is a separate one room Casita with a full bath for added space and the perfect mother-in-law set up! Private pool fully fenced along with the side yard that would be perfect for your pets. Enclosed 29x11 Arizona room allows for you to enjoy the views of the Superstitions right in the comfort of your home. 3 car garage has lots of additional storage and this home is ready for your personal touches and updates. You can paint your vision and improve to your tastes as the bones are good.

4305 Copperhead Drive Wickenburg, AZ 85390

$679,000 - 2Br/3Ba -  for Sale in Wickenburg Ranch, Wickenburg
Open House
$679,000
2 Beds
2.5 Baths
2,176 SqFt
Status Active Under Contract
MLS # 6775447
Property Type Single Family Residence
Price Type --
Incredible Opportunity Priced to Sell at $679,000! Step into this beautifully designed home featuring a customized floor plan, where a welcoming hallway opens to breathtaking views of the pristine Arizona desert through multi-paneled patio sliders. The open layout seamlessly connects the kitchen, dining, and living areas, creating an inviting space for gatherings, complemented by two ensuite bedrooms and a convenient powder room. Elegant double doors lead to the den, which features a Murphy bed, desk, and cabinets, combining style and functionality. The spacious tandem garage, with a sink, accommodates three cars. And much more!! The beautifully landscaped yard is a true oasis, complete with a secure backyard fence, enhancing privacy and outdoor enjoyment!

454 E Hackamore Street Mesa, AZ 85203

$679,000 - 3Br/2Ba -  for Sale in High Meadows, Mesa
Open House
$679,000
3 Beds
2 Baths
2,052 SqFt
Status Active
MLS # 6778415
Property Type Single Family Residence
Price Type --
Completely renovated modern Spanish farmhouse style home in the heart of Mesa. This home has all the bells and whistles, and no stone has been unturned. Awesome split ranch layout that provides total privacy for the master. Everything is new in this home, including stylish waterproof & scratch-proof flooring throughout. At the heart of the home is a chef's kitchen with plenty of shaker cabinets, a gorgeous 6' square quartz waterfall island, and all GE Profile stainless steel appliances. The kitchen includes a herringbone backsplash for that extra touch of elegance. Huge open floor plan that's ideal for large gatherings of family & friends. Luxurious tile work in both the master and hall bath with Kohler sinks and matte black Delta faucets. Stylish doors and moldings throughout with four sets of barn doors with custom heavy-duty hardware that all slide like butter. A beautiful 48 rustic barn door leads into the large master bath, which includes a private toilet. Matte black windows with 3 sets of sliders open to a yard featuring a large turf area, herringbone patio with special lighting, and a Pergola that screams five-star resort living. Brand new 5-ton AC unit and a freshly painted roof with Kool Seal paint help reduce energy costs up to 30% per manufacturer. Custom deco wall in the dining area, shiplap walls, and sleek benches by the front foyer add those extra special touches. Stylish flaked epoxy garage floor and beautiful lighting fixtures throughout are just the icing on the cake. Great schools and a serene, peaceful neighborhood complete the package. This is the house you've been waiting for, so run, don't walk!

3990 Crown Rock Trail Prescott, AZ 86301

$679,000 - 2Br/3Ba -  for Sale in Granite Dells Estates Phase 2a & 2b, Prescott
Open House
$679,000
2 Beds
3 Baths
1,764 SqFt
Status Active
MLS # 6730757
Property Type Single Family Residence
Price Type --
Gorgeous home with so many thoughtful upgrades throughout. This 2 ensuite home also has a den/office/3rd bedroom. Light & bright great room with fantastic kitchen offering a large island with storage, custom 5 burner gas cooktop, built-in micro & wall oven & LED under cabinet lighting. Owner's suite has extra large bedroom, bathroom w/dual vanities & opalescent quartz tops, custom tile shower surround with bench & niche, walk in closet. The second ensuite down its own hall offering privacy. Enjoy back covered patio w/mature landscaping and extensive paver patio - area wired to add a hot tub. Plank tile throughout. Home across from open space, so enjoying the mtn views from front patio is a plus. Laundry room with custom cabinetry, granite tops & sink. 12 panel Solar is owned.

7178 W Rue De Lamour -- Peoria, AZ 85381

$679,000 - 4Br/2Ba -  for Sale in Tierra Norte, Peoria
Open House
$679,000
4 Beds
2 Baths
2,651 SqFt
Status Active
MLS # 6747484
Property Type Single Family Residence
Price Type --
BEST HOME ON TOUR Beautiful 4-bedroom, 2-bathroom ranch-style home features a remodeled kitchen with LG appliances, a Bosch dishwasher, and custom cabinets with granite countertops. The living room includes a custom-built entertainment center, while the family room is perfect for relaxing with its cozy fireplace and adjacent bar. Both bathrooms have been tastefully remodeled, featuring custom cabinets, granite countertops, elegant custom mirrors, and luxurious Jetta tubs with custom shower enclosures. Anderson windows and wood shutters throughout the home provide both style and energy efficiency. A versatile room with custom cabinets, a walk-in closet, and a door to exterior, can be used as an office, second primary bedroom, or hobby room. The freshly painted exterior complements the beautifully landscaped front and back yards, with the backyard offering a fenced Pebble Tec pool and large covered patio, ideal for outdoor living and entertaining. additional highlights include LG washer/dryer in the laundry room and a 2-car garage with epoxy floors, ample storage cabinets, a workbench, and a sink. Located in the Oakwood school district, this home offers the perfect blend of comfort and convenience. NO HOA!

3131 N Central Avenue Unit 4012 Phoenix, AZ 85012

$678,917
2 Beds
2 Baths
1,419 SqFt
Status Active
MLS # 6599088
Property Type Apartment
Price Type --
*Construction completed* 5% BUYER INCENTIVE! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom+ den condo is one of the larger two bedroom floor plans and offers ten ft. ceilings, an open floor plan, and large master bedroom with ensuite bathroom. Chefs kitchen offers expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Spacious balcony to capture the amazing views while outside as well. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful pool and lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.

21521 S 215th Place Queen Creek, AZ 85142

$678,000
5 Beds
3 Baths
3,595 SqFt
Status Active Under Contract
MLS # 6531657
Property Type Single Family Residence
Price Type --
New Carpet and New Interior and Exterior Paint are COMPLETED. Rare To Find. Beautiful Former Model House w/ Private Pool & Basement. Large Adorable Kitchen with lots of Cabinet space and build in desk. 5 Bedroom w/ Den PLUS Large BASEMENT. Grass Front and back yards with private pool. Beautiful Master bedroom with separate walk-in Shower and Spa Tub. Very Low maintenance front and back yard. PLEASE WATCH Video!!

21421 E Roundup Way Queen Creek, AZ 85142

$677,500
6 Beds
5 Baths
3,527 SqFt
Status Active Under Contract
MLS # 6697761
Property Type Single Family Residence
Price Type --
***5,000 Credit towards closing costs!! Welcome Home! This beautiful Richmond American home is ready for you and your family to enjoy and create amazing memories. With 6 bedrooms and 5 bathrooms you will have plenty of room for your family and endless possibilities for working from home or caring for an aging loved one; with two bedrooms and 2 full bathrooms downstairs. Enjoy the new sparkling pool and putting green in the backyard. Granite countertops and upgraded kitchen make it a wonderful environment to cook and enjoy family. Newer exterior paint and Air Conditioning make this home move in ready. Low maintenance yards will allow you to spend time enjoying life.

2444 W Rowel Road Phoenix, AZ 85085

$677,475 - 4Br/4Ba -  for Sale in Aster In Union Park, Phoenix
Open House
$677,475
4 Beds
3.5 Baths
2,511 SqFt
Status Active
MLS # 6743070
Property Type Single Family Residence
Price Type --
NEW HOME - DREAM LOCATION! This home at Aster in Union Park includes 2,511 sq ft of living space, 4 bedrooms, 3.5 bathrooms, and a 2-car large garage. Interior design features include Elevated C design upgrades, including 42'' Burlap cabinets, quartz countertops, custom backsplash, large island, 6x36'' tile, stainless-steel gas range kitchen appliances, single bowl sink. All bathrooms have quartz countertops with Kohler undermount sinks. Quality and Energy efficiency includes tankless hot water heater, Tech Shield roof barrier and blown in wet cellulose insulation. EVO smart home technology included. Union Park, residents can indulge in amenities including a pool, clubhouse, playgrounds, pickleball and basketball courts.

22664 E Happy Road Queen Creek, AZ 85142

$677,433
4 Beds
3.5 Baths
2,965 SqFt
Status Active
MLS # 6735583
Property Type Single Family Residence
Price Type --
This is a brand new Quick Start Home under construction in Queen Creek, with a Ranch Elevation. The Kelly plan includes 4 bedrooms, 3.5 baths, Flex Room, 3 car garage. Gourmet Kitchen appliances that include a gas cooktop with a built-in oven/microwave and dishwasher. Owner's Bathroom includes a separate shower with a freestanding tub. Move-in anticipated for October/November. Included in the Emerald Collection are 10 foot ceilings, 8 foot interior doors and paver driveways and front porches. Please ask about our special financing incentives with Mattamy Home Funding.

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