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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3419 W Thoreau Lane Anthem, AZ 85086

$674,998
5 Beds
4 Baths
3,366 SqFt
Status Active
MLS # 6750368
Property Type Single Family Residence
Price Type --
Live the Anthem Lifestyle! This MOVE IN READY home has an EXCELLENT FLOOR PLAN w/ 2 large flex rooms PLUS HUGE loft. Downstairs has the primary bedroom/bath PLUS 2nd bedroom & full bath. Upstairs has Large bedrooms, jacknjill bath & 4th bathroom. Wonderful features include; VAULTED ceilings,2 NEW HVAC, NEW Hot water Heater, NEW PAINT inside & out, NEW Granite, NEW jacuzzi showers, NEW LVP, carpet & more! Relax in the backyard oasis w/ extended covered patio, POOL, SPA & WATERFALL. A grassy park is across the street for neighborhood fun! The Anthem Community LIFESTYLE includes a 63 acre park w/ Big Splash Water Park, ball fields, large workout facility, tennis, Pickleball, Bball & volleyball courts, skate park, plus large pond! Minutes to I-17, outlet mall, restaurants & shopping!

3172 W Via Dona Road Phoenix, AZ 85083

$674,990
4 Beds
3 Baths
2,375 SqFt
Status Active
MLS # 6774426
Property Type Single Family Residence
Price Type --
Special Financing Available!!!!!!!!! The Great Room, kitchen and dining room share an open floorplan that serves as the heart of this single-level home, leading out to a covered patio through sliding glass doors. The owner's suite is privately tucked away at the back, while three more bedrooms and a bonus room complete the residence. Photos are renderings of a model home, not the actual home.

6728 N 190th Drive Waddell, AZ 85355

$674,990
3 Beds
2.5 Baths
2,397 SqFt
Status Active
MLS # 6739349
Property Type Single Family Residence
Price Type --
START PACKING AS THIS HOME IS READY FOR MOVE-IN. It's the very spacious Carmona on a LARGE LOT. 3 bedrooms + study, 2.5 baths, Multi slide door perfect for entertaining off of your extended covered patio. Large walk in shower at owner's bath. Brick pavers at porch, drive, and walk. Garage service door for easy access to the backyard. Stainless steel gas appliance package with 36'' cooktop and canopy hood for the cook in the family. Slate (gray) cabinets with 42'' kitchen uppers and pull out trash drawer. AZT Himalaya white granite tops in kitchen and at the enhanced kitchen island. Upgrade flooring includes 5'' base boards and 3 1/4'' door casings throughout the home. EMS Novales 12x24 Astra tile in all areas of the home except bedrooms and closets.

844 W Flatiron Trail Apache Junction, AZ 85120

$674,990
4 Beds
3 Baths
2,833 SqFt
Status Active
MLS # 6750737
Property Type Single Family Residence
Price Type --
Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. The Ravenna floor plan features a stylish single-story layout with four bedrooms and a versatile flex space, perfect for an office, TV room, or study. Complete with front yard landscaping, this home will be ready for occupancy by October. Ideally located near community parks, grocery stores, and dining options.

22697 E Roundup Way Queen Creek, AZ 85142

$674,990
3 Beds
2.5 Baths
2,702 SqFt
Status Active
MLS # 6775015
Property Type Single Family Residence
Price Type --
''Discover this exquisite 2,702 square foot Topaz model, featuring 3 spacious bedrooms and 2.5 baths, plus a generous bonus room perfect for your needs. Step into the heart of the home—a gourmet kitchen that's a chef's dream. It boasts a Whirlpool 5-burner gas cooktop, built-in microwave, and oven, alongside a butler's pantry equipped with a beverage refrigerator. The kitchen shines with espresso-colored cabinets featuring soft-close hinges and upgraded crown molding, complemented by a sleek stainless steel chimney hood and a dazzling quartz countertop. Enjoy luxurious details throughout, including tiled primary shower, 8-foot doors, and tasteful shutters for added privacy. The entire home is adorned with beautiful 7x22 wood plank tile, creating a warm and inviting atmosphere. Plus, it's pre-plumbed for a sink and water softener, offering even more convenience. Don't miss the opportunity to make this beautifully appointed home yours!

5816 E Rose Garden Lane Phoenix, AZ 85054

$674,990 - 3Br/3Ba -  for Sale in Desert Ridge Superblock 1 Southwest Phase 3, Phoenix
Open House
$674,990
3 Beds
2.5 Baths
2,120 SqFt
Status Active
MLS # 6780939
Property Type Townhouse
Price Type --
IGNORE DAYS ON MARKET HOMES ARE ALMOST DONE PICTURES COMING SOON! Nestled in the hustle and bustle of the gorgeous community of Talinn at Desert Ridge you will find a charming floorplan welcoming a family ready to start their next journey. This 3 bed 2.5 bath with a den and a loft gives you more than enough space to grow! Having quartz countertops, white cabinets and wood-like tile helps keeps the home trending every year! Make this home your home in September when we finish construction, don't wait as this will go fast.

18593 E Ranch Road Queen Creek, AZ 85142

$674,978
5 Beds
3 Baths
2,553 SqFt
Status Active
MLS # 6751752
Property Type Single Family Residence
Price Type --
Do not miss this beautifully remodeled 5 bedroom, 3 bath home in masterplanned community of Cortina in Queen Creek! Sitting on a corner lot, across from one of the community parks, the curb apeal is unmatched with new professional landscaping. The front porch is perfect for your morning coffee, watching the kids play or chatting with the neighbors. Walk inside and you are greeted by an open, light and bright floorpan! Just remodeled with new tile, upgraded carpet, cabinet doors, countertops, paint, fixtures, hardware and more! This dream kitchen offers lots of storage with white shaker cabinet doors, gorgeous quartz countertops and black accessories. Look out over the large island to the great room, with plenty of space for a large kitchen table, sectionals, couches or more! Perfect for spending quality family time or for entertaining. The primary suite is spacious and private with a spa like en suite! Offering Corian surrounds, separate tub and shower and a walk in closet with ample storage! The secondary bedroom with it's own en suite offer privacy for guests, or would be a perfect home office space! The split floorpan perfectly offers 3 more large bedrooms and bathroom. Out back is a true oasis with all new turf, plants and enough stamped concrete for dining or lounging! Do not miss out, schedule your appointment today!

3165 E Indigo Bay Drive Gilbert, AZ 85234

$674,950
4 Beds
2 Baths
2,274 SqFt
Status Active
MLS # 6765310
Property Type Single Family Residence
Price Type --
Located in a desirable Gilbert neighborhood, this spacious 4-bed, 2-bath home is a perfect blend of style, comfort, and functionality. Set on a North/South-oriented lot with no rear neighbors, enjoy peace and privacy along with stunning features inside and out. Step into an open-concept living and dining area with vaulted ceilings that create an airy and inviting atmosphere. The gourmet kitchen is a chef's dream, complete with granite countertops, stainless steel appliances, a walk-in pantry, and a center island perfect for meal prep and casual dining. The split floor plan offers maximum privacy, with the primary suite featuring a cozy sitting area, direct access to the backyard, and a luxurious en-suite bathroom. The spacious backyard is an entertainer's paradise.

29408 N 244th Drive Wittmann, AZ 85361

$674,950
5 Beds
2 Baths
3,100 SqFt
Status Active
MLS # 6773790
Property Type Single Family Residence
Price Type --
Remodeled custom home on premium corner lot. No HOA. Large lot that can accommodate guest quarters, RV storage, pool, or horse set up. Mountain views. Tiffany style chandelier in foyer. Archway with wood Vega poles. 3 skylights create light & bright interior. Stainless appliances. Large pantry. Master bathroom with freestanding shower, tub, & walk in closet. Laundry room with custom cabinets & built in wine cooler. Energy saving synthetic stucco. $Priced below appraisal(see doc tab).

15221 N Clubgate Drive Unit 1141 Scottsdale, AZ 85254

$674,900
2 Beds
2 Baths
1,401 SqFt
Status Active
MLS # 6666784
Property Type Townhouse
Price Type --
! BACK ON MARKET newly PAINTED upgrade MAY 2024. MOVE IN READY Kierland Greens condo. This roomy 2-bed, 2-bath condo delivers lots of natural light. Large & bright living room with top of the line travertine flooring, crown molding & plantation shutters. Beautiful granite countertops in kitchen with a convenient pantry, stainless steel appliances, and plenty of cabinet space. Primary bedroom provides a private bathroom with dual sinks, a soaking tub, and an enclosed glass shower. Situated near all the action of Kierland Commons, Scottsdale Quarter and stunning golf courses. Easily get your steps in while having fun! Kierland Greens has all the beautiful ammenities one would expect. Very low turnover in this community. Beautifully maintained complex with pool and gym. Make it yours!

3438 W Little Hopi Drive Phoenix, AZ 85086

$674,900
3 Beds
2 Baths
2,423 SqFt
Status Active
MLS # 6771166
Property Type Single Family Residence
Price Type --
Desirable corner lot with gorgeous shade trees, paver driveway and an RV gate. Large 2423 square foot single level floor plan with a dedicated den off the entry, a large formal dining area and a spacious kitchen with a diagonal island opening to the family room. Great master suite with all the amenities. Lots of storage space throughout. Large laundry room with space for an extra frig or freezer. Neutral color paint and carpet. All appliances included. Private backyard with a large patio for entertaining and a sparkling pool.

1243 N Ambrosia -- Mesa, AZ 85205

$674,900
5 Beds
4 Baths
3,097 SqFt
Status Active
MLS # 6776563
Property Type Single Family Residence
Price Type --
stunning 5 bedroom 4 bathroom completed updated rare basement home with pool. this rare home boasts ample living space, professional designer touches and remodeled by licensed contractor. owner agent with fast answers. home is also available for rent or lease purchase.

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