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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20447 N 266th Avenue Buckeye, AZ 85396

$674,900
2 Beds
2 Baths
2,323 SqFt
Status Active
MLS # 6771161
Property Type Single Family Residence
Price Type --
Welcome to this Copper Canyon Golf Course Home with expansive Mountain Views. The popular FIESTA model is located in the heart of Sun City Festival, near the Sage Rec Center, Golf Pro Shop & Indigo Grill. This 2,323 sqft home sits on an elevated 9,200 sqft lot. Enter the private courtyard and discover an open floor plan with 10' ceilings showcasing tile floors w/marble inserts. The Chef's dream kitchen offers cherry cabinets, granite countertops, kitchen island, 5 burner gas cooktop, SS appliances & breakfast nook. After a day of fun in this active 55+ community, retire to your large Owner's Suite w/patio doors, spacious ensuite w/dual vanities, tiled shower, soaking tub & roomy closet w/custom built ins. This home is truly an entertainer's delight w/extended paved patio, built in BBQ firepit & LUSH GOLF COURSE BACKDROP. Both interior & exterior were recently painted & new HVAC was installed in 2021. The 3 Car garage w/built in storage; large laundry room w/sink & leased solar complete the package for a perfect Desert Oasis.

1331 S Illinois Court Chandler, AZ 85286

$674,900
4 Beds
2 Baths
2,334 SqFt
Status Active
MLS # 6779533
Property Type Single Family Residence
Price Type --
Check out this lovely home in PRIME CHANDLER LOCATION! This single level, 2334 sf, 4 bedroom home offers about everything you could possibly need. Open concept floorpan, eat-in kitchen featuring stainless steel appliances, granite countertops, island w/ barstool seating, walk-in pantry and breakfast nook. Primary suite includes soaking tub, separate walk-in glass shower, and large walk in closet. This home sits on a nice cul-de-sac lot and is a great home for entertaining! East facing backyard has pebble-tec pool, built-in BBQ w/ bar seating, and mini fridge and covered patio with misting system and speakers. Charming curb appeal with paver slab for additional parking at RV gate and slab behind gate for all your toys! Garage features epoxy floors, built-in cabinets with workbench, and storage racks. All around GREAT HOME and Chandler Excelling Schools.

2501 W Red Tail Way Prescott, AZ 86305

$674,900
4 Beds
3 Baths
2,396 SqFt
Status Active
MLS # 6781915
Property Type Single Family Residence
Price Type --
Beautiful home on over an acre of land. This 4 bedroom, 3 bath, 3 car garage home has two year old roof, stucco and paint, 3 year old water heater, and 3 year old appliances. Remodeled kitchen and baths, owned solar, newer well pump, fenced yard, large patio with views and all appliances included. Zoned for up to 2 horses. Close to town with the country feel.

1715 S Hardy Drive Tempe, AZ 85281

$674,900
4 Beds
2 Baths
1,858 SqFt
Status Active
MLS # 6712585
Property Type Single Family Residence
Price Type --
This property is perfect for either an active STR or as a fully-furnished move-in ready home. The previous owners made over $58,000 in improvements, including new exterior siding, pool resurfacing, pool heater and automation, panel installation, replacement of old Orangeburg sewer line, new washer and dryer, new pool pump, back yard landscaping with high quality turf installation & rock in front. They also added over $55,000 worth of home furnishings and accessories. Whether you are looking for an STR opportunity or a new home, this property is move-in ready, with access to Tempe and South Scottsdale sports, dining and entertainment.

3040 Hoskinini Circle Prescott, AZ 86305

$674,900
3 Beds
3 Baths
3,288 SqFt
Status Active
MLS # 6722206
Property Type Single Family Residence
Price Type --
Welcome to this inviting home, nestled on a secluded ½ acre homesite in the Tonkawa neighborhood. Surrounded by mature pine trees, this property offers a sense of tranquility and privacy. A gated circular drive leads you to this split-level entry home, ideal for multi-generational living with separate living spaces and entrances all under one roof. The main level boasts a formal living room with large picture windows that bathe the space in natural light, centered around a charming brick-surround gas fireplace. The kitchen is a chef's delight, featuring gleaming granite counters, pendant lighting, a tray ceiling, breakfast bar, and an adjacent dining area. The master suite offers gorgeous wood floors, two closets, a full bath & an adjoining sitting room/office, creating a serene retreat. Additionally, the enclosed 14' x 10' Arizona room (not included in the square footage) provides flexible space for your needs. The lower level, currently configured as two apartments each with its own private entrance, features two bedrooms, two bathrooms, a family room, a full kitchen, and ample storage space, making it perfect for extended family or rental income. Step outside to enjoy the park-like backyard, which has hosted numerous weddings thanks to its picturesque setting. The outdoor area includes a spacious back deck, private patio, garden area, detached 2-car garage, large shed, and plenty of room to relax or entertain. Meticulously maintained over the years, all three buildings received new roofs in early 2024. Don't miss the chance to own this elegant, functional, and naturally beautiful property, offering endless possibilities for multi-generational living or investment.

2323 N Central Avenue Unit 705 Phoenix, AZ 85004

$674,900
2 Beds
2 Baths
1,398 SqFt
Status Active
MLS # 6723457
Property Type Apartment
Price Type --
This historic mid-century landmark graces the Phoenix skyline with its timeless presence. Step into unit #705 and discover a truly unique, turnkey living space, meticulously designed with porcelain tile floors, quartz countertops, bespoke cabinetry, stainless steel appliances, induction stove and exquisite designer touches at every turn. The open-concept layout boasts floor-to-ceiling windows and custom patio doors that frame stunning vistas of the Midtown skyline and mountains. A spacious private balcony offers serene views of the pool and lounge area, seamlessly blending indoor and outdoor living. Enjoy an array of upgrades and exceptional amenities including ''HOA-covered'' utilities, assigned underground parking, round-the-clock concierge service, and more. Perfectly situated within walking distance of Midtown's vibrant offerings, this is more than just a homeit's your sanctuary. Welcome to your new oasis at the Regency on Central!

9292 E Dreyfus Place Scottsdale, AZ 85260

$674,900
3 Beds
2 Baths
1,720 SqFt
Status Active
MLS # 6745860
Property Type Single Family Residence
Price Type --
This stunning 3-bedroom single-level home in Scottsdale is a true gem, offering the perfect blend of comfort and convenience. With vaulted ceilings and elegant plantation shutters throughout, the open and airy design creates a welcoming atmosphere. The wood flooring adds a touch of sophistication, while the corner lot position provides added privacy and a lovely view of the community park. The open kitchen seamlessly flows into the family room, making it ideal for both everyday living and entertaining guests. Enjoy a lifestyle of ease with everything you need just moments away: movie theaters, diverse dining options, grocery stores, Scottsdale Shea Hospital, the McDowell Mountain Preserve, and an array of shopping opportunities.

656 W Johnson Drive Gilbert, AZ 85233

$674,900
4 Beds
2 Baths
2,374 SqFt
Status Active
MLS # 6739611
Property Type Single Family Residence
Price Type --
Discover your dream home in this exceptional property, boasting a spacious three-car garage and a host of upscale features. The beautifully designed primary bathroom offers a tranquil retreat, while the expansive kitchen is a chef's delight, featuring a wine cellar and a high-end Sub-Zero refrigerator/freezer. Set on a generous lot, this residence includes a sparkling pool with a diving board, perfect for entertaining and relaxation. Plus, enjoy the benefits of a solar savings! This home seamlessly combines luxury, comfort, and efficiency, making it a must-see!

21320 N 56th Street Unit 1199 Phoenix, AZ 85054

$674,000
2 Beds
2 Baths
1,884 SqFt
Status Active
MLS # 6747324
Property Type Apartment
Price Type --
Welcome to your dream condo in the resort-style community of Bella Monte! This rare first-floor gem features 2 bedrooms, plus an office/ or guest room, making it the largest floor plan in Bella Monte. Step inside and experience the open-concept layout and charming stone fireplace. The upgraded kitchen boasts solid wood cabinetry and sleek brand new stainless steel appliances. Step outside to a spacious and private back patio, perfect for outdoor living. A 2-car garage adds convenience and keeps your car cool. Located near Highway 101 and High Street, you're just minutes away from fantastic dining, shopping, and Paradise Valley. Experience the ease of low-maintenance living without compromising on luxury. Bella Monte boasts 3 pools, spas and workout rooms! Photos virtually staged.

10649 E Hawk Avenue Mesa, AZ 85212

$674,000
4 Beds
3 Baths
2,284 SqFt
Status Active
MLS # 6763179
Property Type Single Family Residence
Price Type --
You'll LOVE this gorgeous 4-bed, 3-bath home in Eastmark! Displaying a manicured landscape & a 2-car garage w/paver driveway. Home exudes elegance with vaulted ceilings, chic light fixtures, plantation shutters, neutral paint, and Berber carpet & wood-look tile flooring. The inviting open layout is paired with a fireplace & multi-sliding doors to the back! The gourmet kitchen boasts granite counters, a pantry, subway tile backsplash, a prep island, white staggered cabinetry, and SS appliances w/cooktop gas & wall ovens. Main bedroom has barn doors that open to the ensuite with dual sinks, separate tub/shower, & a walk-in closet. PLUS! The large den can be an office. Enjoy the entertainer's backyard with a covered patio, artificial turf, firepit, built-in BBQ, & a sparkling pool! Just WOW!

8413 E Jackrabbit Road Scottsdale, AZ 85250

$674,000
3 Beds
2 Baths
1,722 SqFt
Status Active
MLS # 6765157
Property Type Single Family Residence
Price Type --
This meticulously maintained 3-bedroom, single-story residence is a rare find with no HOA. With a brand-new roof, new A/C, and fresh exterior paint, this home is ready for you to move in and enjoy. Located in a prime location, you'll be just moments away from the beauty of Chaparral Park, the vibrant energy of Old Town Scottsdale, and shopping at Fashion Square. Plus, you're close to spring training facilities and Talking Stick Resort, making it easy to enjoy all that Scottsdale has to offer. Step inside to discover a warm and inviting living space that flows seamlessly. Don't miss your chance to own this exceptional home in a fantastic location!

9223 W Running Deer Trail Peoria, AZ 85383

$674,000
3 Beds
2.5 Baths
2,650 SqFt
Status Active
MLS # 6713470
Property Type Single Family Residence
Price Type --
Best value in West Wing. Great split floor plan open kitchen great room with gorgeous upgrades. Large master suite with separate tub and shower double sinks and envious walk-in closet.

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