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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8901 S Dateland Drive Tempe, AZ 85284

$674,000
4 Beds
2 Baths
2,066 SqFt
Status Active
MLS # 6751031
Property Type Single Family Residence
Price Type --
WESERV Best Home on Tour winner!!! This beautiful single level 4 bdrm home with heated salt water pool/spa is truly move in ready. The owner replaced the following since purchase 2 yrs ago: new salt water system in the pebble-tec pool/spa, water heater w/recirculation system, soft water and RO system, dishwasher, kitchen countertops, back landscaping & paver areas, interior/exterior paint, tile floors and carpet! From the patio entrance, custom front door, vaulted ceilings, wood burning fireplace in family rm, laundry rm with upper and lower cab's with full countertop. Primary bdrm has door to backyard. Note: behind wood fence is where a built-in BBQ was planned (gas lines, power, water available & cement). You'll have peace of mind living here with many of the big $ items done

2726 S Rita Lane Tempe, AZ 85282

$674,000 - 5Br/3Ba -  for Sale in Tempe Royal Palms Unit 1, Tempe
Open House
$674,000
5 Beds
3 Baths
2,481 SqFt
Status Active
MLS # 6771207
Property Type Single Family Residence
Price Type --
This beautiful home located in the heart of Tempe boasts five bedrooms and three full bathrooms in a split floor plan. As you walk into an open living room there is a formal dining room off to the side. It has a spacious updated kitchen with plenty of cabinets and a premium induction range and double oven among other state of the art appliances. This home has two master bedrooms, one with a large soaking tub. All bathrooms are updated, and all the bedrooms are large with plenty of closet space, plus 2 hall closets and additional cabinet storage along the hallway.There is a sun/Arizona room that has A/C giving you more space and living area. The home has large front and back yards with easy to keep irrigated landscaping. The home is close to ASU and downtown Tempe, and sits in a good neighborhood for walking and with nearby parks. This home is perfect for any lifestyle but would also make an excellent investment property with close proximity to ASU, and Tempe dining and retail. It is also conveniently near Mesa shopping and Asian grocery markets, and with Scottsdale just a short drive away. Welcome to your Next Home!

22324 N 102nd Avenue Peoria, AZ 85383

$673,900
4 Beds
3 Baths
2,387 SqFt
Status Active
MLS # 6721590
Property Type Single Family Residence
Price Type --
This AMAZING home in The Meadows offers a Sparkling Pool with Waterfall & large Stone Pavers! The popular floor plan, Gila has a dramatic grand entryway which features almost 2,400 square feet with 4 bedrooms, 3 full bathrooms and a 3-car tandem garage. The spacious owners suite offers a large walk-in closet with a gorgeous bathroom featuring an oversized walk-in shower with tile and a double sink raised vanity. Open & spacious kitchen features stainless steel appliances with a 30-inch gas GE profile cooktop, also featuring granite countertops, subway tile backsplash and island with lots of space for cooking & entertaining! Located in highly sought after area of North Peoria with convenient access to shopping, restaurants, entertainment and just a few minutes to Lake Pleasant and TSMC semiconductor manufacturing plant! Enjoy all the amenities of The Meadows! Community Pool, Clubhouse, Pickleball, Volleyball, kids park & more! Available for a quick closing!

3738 E Rochelle Circle Mesa, AZ 85213

$672,970
4 Beds
3 Baths
1,972 SqFt
Status Active
MLS # 6782625
Property Type Single Family Residence
Price Type --
End of year builder inventory closeout, price slashed to sell. Stunning Andalusian style in new gated infill neighborhood. EOY completion Great infill location with desirable schools, EZ freeway access during the weekdays and a great gateway location for the weekends to head to the Salt River watershed lakes, mountains or a local hike! Nice finishes: 8' IRON front door, KitchenAid appliance pkg, white Shaker style cabinets with tall uppers w/ LED lights underneath Thick quartz kitchen tops, Subway tile backsplash. Wood look tile throughout, NO CARPET! 3 car tandem garage features a side door with paver path to front driveway. Stereo and Security prewire. 8' interior doors with nickel hardware and fixtures. Builder finance incentives. Taxes est. Most pics are of a model home

23059 E Pummelos Road Queen Creek, AZ 85142

$672,500
4 Beds
3.5 Baths
2,938 SqFt
Status Active
MLS # 6762287
Property Type Single Family Residence
Price Type --
MOTIVATED SELLERS! This move-in ready two-story home features a beautifully landscaped backyard with real grass, a charming gazebo, and a covered patio perfect for shaded outdoor dining or relaxation. Inside, the open concept living area showcases a striking 20-foot shiplap fireplace and a gourmet kitchen with a 10-foot island, custom backsplash, 42'' upper cabinets, and a stainless steel range hood. The main floor master suite offers a spa-like bathroom with dual shower heads, double sinks, and a spacious walk-in closet. Upstairs, enjoy a cozy loft, two bedrooms, and a full bath. Energy-efficient upgrades include sunshades, two A/C units, and a tankless water heater. Located within walking distance to Queen Creek Olive Mill and Schnepf Farms for nearby dining and entertainment options. Retreat to the romantic main suite, highlighting plantation shutters, a pristine ensuite, and a walk-in closet. The home's elegance extends outdoors to the serene backyard with a covered patio, a gazebo, and a grassy lawn, excellent for outdoor relaxation. This value will not disappoint!

14799 W Pasadena Avenue Litchfield Park, AZ 85340

$672,000
5 Beds
4 Baths
3,910 SqFt
Status Active
MLS # 6693658
Property Type Single Family Residence
Price Type --
Welcome to a charming home with a story to tell! Nestled in tranquil Palm Valley, this property boasts the distinction of being cherished by its original owner, making it a rare find in today's market.Step inside and be greeted by a warm and inviting atmosphere. This meticulously maintained residence offers 5 bedrooms, 4 bathrooms, and a separate office and loft providing ample room for relaxation and entertainment, as well as a casita with a separate entrance perfect for visitors or multi generational living. The heart of the home is the well-appointed kitchen which is a haven for culinary enthusiasts, featuring white cabinets, stainless steel appliances and large island. Whether you're hosting family gatherings or intimate dinners, this kitchen is sure to impress, and is open to the living area for seamless entertaining. Step outside through the multi panel sliding door that offers the best views of your beautifully landscaped yard, with 2 separate covered patios. Imagine sipping your morning coffee on the patio as you bask in the serenity of your surroundings and mountain views.Conveniently located inclose proximity to 303 Interstate, i-10, and 101. Wigwam resort, multiple golf courses & shopping.

20235 W Hollyhock Street Buckeye, AZ 85396

$671,995
4 Beds
3 Baths
2,890 SqFt
Status Active
MLS # 6698318
Property Type Single Family Residence
Price Type --
Designed for entertaining this ranch style Julia plan model home offers airy 10'' ceilings. Once inside an extended entry leads to an expansive gourmet kitchen with 42'' white cabinetry with brushed nickel cabinet pulls, quartz countertops, tile backsplash, GE Plus stainless-steel appliances with a chimney hood and 36'' gas cooktop, an extended island, a breakfast nook, and a great room that includes an additional flex space. French doors lead from the dining nook out to an extended patio that runs the length of the great room. Inside a Butler's pantry with wet bar leads to a large walk-in pantry and a formal dining room leads to an adjacent covered courtyard off to the side of the home. This home offers two bedrooms that share a jack and jill bathroom, both with walk-in closets. A fourth bedroom and third bathroom complete the home. The primary bedroom includes a private bath with walk-in closet, dual vanities and a tile shower. In addition, this home has 12x 24 tile in all bathrooms, upgraded carpet in the bedrooms only and wood laminate flooring in the remaining areas of the home. This home also includes two-tone paint, ceiling fan prewires in all bedrooms, great room and covered patio, pendent lighting above the kitchen island, upgraded light fixtures in the dining room, nook and entry way, exterior coach lights and a paver driveway and walkway and front yard landscaping. A two car plus one car side turn garage is also included. This home is situated on a North facing 8760 square foot lot.

3437 W Thoreau Lane Anthem, AZ 85086

$671,000
6 Beds
4 Baths
3,855 SqFt
Status Active
MLS # 6730172
Property Type Single Family Residence
Price Type --
This stunning home is located in the heart of Anthem, a beautiful award winning master planned community where joy abounds. At first sight you will notice a welcoming front porch, decorative stonework, and a lovely neutral color palette. The dramatic front entrance is enhanced by vaulted ceilings, custom pillars, and charming loft. The kitchen boasts ample storage and stainless appliances. The primary suite is located on the first floor as well as a secondary bedroom and a full guest bathroom. The second story has all the space one could need with four large bedrooms, two full baths, a bonus room and a loft. The backyard is an entertainer's dream with an extended flagstone patio, private pool and spa, and a gas firepit. Truly Sonoran living at its finest.

13827 N Wendover Drive Fountain Hills, AZ 85268

$670,000
3 Beds
2 Baths
1,732 SqFt
Status Active
MLS # 6748069
Property Type Single Family Residence
Price Type --
Flawlessly maintained pristine home nestled in serene residential neighborhood. NO HOA! Be captivated by Mountain Views & Four Peaks. Recently treated to a fresh exterior paint w/ unparalleled level of protection against the elements w/ a special waterproof coating, standing apart from other available homes. Embrace worry-free living w/ the installation of brand-new, highly efficient HVAC, ensuring optimal comfort & performance for years. Added comfort & energy savings w/ all-around window shade screens, allowing for coolness & cost-efficiency. Step inside this beautifully split-plan home. The full primary bedroom suite offers a sanctuary of serenity. The kitchen boasts stunning granite countertops. backsplash, granite sink, top-notch appliances, super large panty. Superb backyard w/shed. Move-in ready, this residence leaves nothing to be desired. Stepping outdoors, be greeted by an expansive backyard with a custom-built shed for all your additional storage needs. Additional storage cabinets & worktable in garage! Convenience is at your doorstep, w/ retail & restaurants just a leisurely stroll away. Imagine the joy of living within a mile of the iconic Fountain and Lake. This home is sure to please!

7451 W Crystal Road Glendale, AZ 85308

$670,000
3 Beds
2 Baths
2,111 SqFt
Status Active
MLS # 6729565
Property Type Single Family Residence
Price Type --
*BACK ON MARKET* This beautiful 3 bedroom + Den, 2 bath home features a 3 car garage, a RV gate, & an immaculately maintained front & backyard. The living/dining room showcases vaulted ceilings, a soothing color palette, plantation shutters, & wood look flooring. The great room includes a large sliding door for ample natural light. The newly refreshed kitchen is equipped w/ a breakfast nook, granite counters, abundant wood cabinetry, track lighting, SS appliances, a pantry, and an island w/ a breakfast bar. Double doors lead to a versatile den, ideal for work or relaxation. The serene primary bedroom offers backyard access, an ensuite w/ dual sinks, and a walk-in closet. The backyard boasts a covered patio, stylish pavers, pristine artificial turf, and a refreshing pool.

10835 E Tesla Avenue Mesa, AZ 85212

$670,000
3 Beds
2.5 Baths
2,462 SqFt
Status Active
MLS # 6737188
Property Type Single Family Residence
Price Type --
MUST SEE TODAY! Gorgeous property in the growing La Mira! This home offers excellent curb appeal with a low-care front yard, a 2-car garage, and an RV gate. The interior boasts a large open concept with tall ceilings, ceramic tile flooring, plush carpet, and abundant natural lighting. The fabulous white kitchen showcases staggered cabinets, SS appliances, granite counters, a large island with breakfast bar, and a walk-in pantry. The split owner's suite allows great privacy, and its immaculate bathroom with a huge dual vanity & an oversized shower makes it a perfect retreat to unwind after a long day. The secondary bedrooms share a Jack & Jill bathroom. Additionally, you'll find 2 dens, one perfect for an office & a larger one for a game/entertainment center. Discover a spacious backyard with covered patio and artificial turf, making an ideal spot for fun & entertaining. This fabulous community features a lush park with playground and a pool. What's not to like? Hurry to see this amazing residence before it's too late!

3407 E Glacier Place Chandler, AZ 85249

$670,000
4 Beds
2 Baths
2,121 SqFt
Status Active
MLS # 6738533
Property Type Single Family Residence
Price Type --
FRESHLY PAINTED INTERIOR. BRAND NEW CARPET- COME TAKE A LOOK NOW!! Ready to move in. Exceptional single level 4 bedrooms 2 baths & Spacious 3 car garage home in popular gated community of Quail Springs in Chandler. Formal living & Dining room Updated Kitchen with Island overlooking the great room. Wired for surround sound. Kitchen cabinets and stunning granite countertops installed in 2024. Stainless Steel appliances The Refrigerator & Microwave replaced in 2023. Double Ovens Washer & Dryer installed in 2022 are included. Laundry room cabinet & Sink. Tile floor in kitchen baths and all traffic areas. Main bath with separate tub and shower. Walk-in closet with custom shelves. Dual sinks. Water Softener. RO System. Tankless water heater. Security System Borders common area with access to walking trail. Community offers large grass area and children playground Close to schools dining shopping and Citrus Vista Park. Come take a Look.

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