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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14927 N 55th Drive Glendale, AZ 85306

$669,980
5 Beds
3.5 Baths
3,053 SqFt
Status Active
MLS # 6755286
Property Type Single Family Residence
Price Type --
LEED Certified Gold Home. 5 Bedroom all with walk in closets. 3.5 Bath, Huge loft. 2 car Garage. Benton Birch Burlap Cabinets. New Caledonia granite kitchen countertops. Kitchen 42'' uppers. GE gas range, SS appliances. Tile flooring is 6'' X 36'' wood looking tile

4208 E Oak Street Phoenix, AZ 85008

$669,900
3 Beds
2 Baths
1,781 SqFt
Status Active
MLS # 6778096
Property Type Single Family Residence
Price Type --
Seize the opportunity to live in the coveted Arcadia neighborhood, nestled close to premier shopping, dining, and entertainment. This exquisitely updated home sits on just over a quarter-acre and features three bedrooms and two bathrooms across 1781 square feet with an expansive great room design and additional sunroom. The kitchen boasts pristine white cabinets, Quartz and butcher block counters, a remarkable Frigidaire gas stove with pot filler, custom tile backsplash, and a central island with a breakfast bar. The main bedroom is equipped with an ample walk-in closet, a stylish accent wall, and a sliding barn door that opens to an en suite bathroom with a dual-sink vanity and a tiled shower featuring a rain showerhead and glass enclosure. An enclosed patio adds a versatile living area ideal for a home office or fitness space. The vast backyard offers abundant grassy areas for children and pets, mature trees for shade, a large patio for gatherings, a covered shuffleboard court, an RV gate with a concrete slab for extra parking, all surrounded by a block fence for privacy. Additional features include a single-car garage with extra carport space, a charming entrance with exterior shutters and a Dutch front door, an electric fireplace in the great room, custom window treatments, recessed lighting, luxury vinyl plank flooring in the common areas, an inside laundry room, and much more.

8045 N 14th Street Phoenix, AZ 85020

$669,900
3 Beds
2 Baths
1,758 SqFt
Status Active
MLS # 6745672
Property Type Single Family Residence
Price Type --
**Attention** Investment opportunity in North Central Phoenix! This property includes a 1758 Sf Main Home and 900 SF Remodeled Casita. Both units are leased, generating $4,320/lease monthly. NO HOA. 15,027 Sf lot with plenty of room for future expansion. The main home includes a spacious kitchen, living/family room, large, covered patio with a large backyard and RV gate. The 2-bed, 1-bath Casita includes New white shaker cabinets, stainless-steel appliances and LVP flooring. Conveniently Located near the Phoenix Mountain Preserve with quick access to hiking trails, Great Local dining, shopping, and the 51 Freeway. Quick access to anywhere in the valley, 10 minutes to Downtown Phoenix. If you're looking for an investment opportunity, check this out today to see the potential for yourself

15402 W Old Oak Lane Surprise, AZ 85379

$669,900
4 Beds
2.5 Baths
3,529 SqFt
Status Active
MLS # 6765107
Property Type Single Family Residence
Price Type --
WELCOME TO MARLEY PARK WHERE YOU WILL FIND THE PLEASURE OF FINE LIVING. COME VISIT THIS AMAZING HOME AND FALL IN LOVE WITH IT. BEAUTIFUL UPGRADES: TILE FLOORING,GRANITE COUNTER TOPS,WHITE CABINETES,BACKSPLASH TILE,SS APPLIANCES, SPACIOUS ROOMS: DINNING,BEDROOMS & FAMILY RM. ENJOY THE OUTDOOR ON YOUR OWN POOL AND COVER PATIO WITH UPGRADES TO DELIGHT YOUR VIEW. WORDS ARE NOT ENOUGH TO DESCRIBE THIS BEAUTY.SOLAR PANELS ARE PAID OFF.YOU MUST IMMERSE YOURSELF IN IT. UPSTAIRS LOFT HAS BEEN USED AS A 2ND MASTER BEDROOM.

18733 N Avila Drive Surprise, AZ 85387

$669,900
2 Beds
2.5 Baths
2,539 SqFt
Status Active
MLS # 6773537
Property Type Single Family Residence
Price Type --
Beautiful updated Ashbury home in one of the quietest areas in The Grand. Great open floor plan with large kitchen, dining, and living area. Kitchen has island with lots of storage, new counter, updated cabinets and all new stainless steel appliances. The living area boasts a beautiful Stonecreek media wall with fireplace and lighted shelves. The large primary bedroom includes a walk-in closet, beautifully remodeled en suite bathroom with walk in shower and free standing bathtub. Guest bedroom includes an updated en suite bathroom. Den includes a Murphy bed and can double as an office or extra guestroom. New floors and plantation shutters throughout and large windows provide lots of natural light and enhance the beauty of this home. Laundry room has new cabinets, new washer/dryer, sink and clothes bar. New paint throughout the interior and exterior. Triple garage with new storage cabinets. A private covered patio completes the beauty of this home!

14018 S 44th Street Phoenix, AZ 85044

$669,900
4 Beds
2 Baths
2,155 SqFt
Status Active Under Contract
MLS # 6774060
Property Type Single Family Residence
Price Type --
Don't miss this MUST-SEE opportunity! Entertain in your picturesque backyard with an updated Heated Saltwater Pool and Spa with Private Mountain Preserve Views! This home has it ALL! NEW ROOF, NEW OWNED SOLAR, and newer patio doors and windows on the West side make this an extremely energy efficient home! Updated luxury vinyl plank flooring throughout, plantation shutters, and an open floorplan are an entertainer's dream! Move-In Ready! Exterior painted in 2024, hot water heater in 2023. You do not want to miss this opportunity as this house will go quickly! Great location, close to highways, shopping, restaurants, trails, and parks!

3059 E Rose Lane Phoenix, AZ 85016

$669,900
2 Beds
2 Baths
1,185 SqFt
Status Active
MLS # 6741677
Property Type Townhouse
Price Type --
Welcome to this charming golf course bungalow! Turnkey and ready for you to move-in! This 2 bed, 2 bath townhouse is located in the Biltmore Courts and overlooks the 11th tee box on the Arizona Biltmore Links Golf Course! The home has been recently renovated. New paint, new kitchen appliances, new cabinets, new quartz countertops, new bathroom tile, new carpet and new light fixtures! The property was also meticulously maintained by previous owners who only utilized it seasonally. Through every window in the home you have mountain views of Camelback, Phoenix Mountain Preserve and Piestewa Peak! Enjoy your evenings on the peaceful patio watching golfer tee off, an infamous arizona sunsets over the course as well as the downtown lights once the sun goes down. It's truly an oasis! You'll also get to enjoy the tennis/pickleball courts, heated pool, exercise room and Clubhouse, just steps away from your front balcony.

4444 E Jesse Street Gilbert, AZ 85295

$669,900
4 Beds
3 Baths
2,420 SqFt
Status Active
MLS # 6731266
Property Type Single Family Residence
Price Type --
Fabulous 4 bedroom/3 bath floorplan located in the highly sought after community of Cooley Station. The open floorplan boasts 10 foot ceilings with the primary en suite, 2 bedrooms, a full bathroom, and large laundry room with built in cabinets on the first floor. The gourmet kitchen includes a farmhouse sink, LED dimmable lighting under kitchen cabinets, subway tile surround on kitchen Island, upgraded kitchen cabinets with crown molding, and ceramic subway tile back splash. A nice size loft, sitting area, bedroom, and full bath are located upstairs- perfect for guests! Exit out to the beautifully landscaped yard from the kitchen to a large covered patio and artificial turf. The community offers 2 pools and 4 large parks; 1 just footsteps from the front door. Complete front landscape and back alley landscape fully maintained by the HOA. This home is designed with functionality and style in mind, catering to both practical needs and aesthetic preference. The combination of modern amenities and thoughtful details suggests a well-appointed and comfortable living space. Don't miss this wonderful opportunity to live in Cooley Station!

18172 W Devonshire Avenue Goodyear, AZ 85395

$669,900
4 Beds
2.5 Baths
2,322 SqFt
Status Active
MLS # 6751190
Property Type Single Family Residence
Price Type --
Sedella is an RV friendly community where toys are welcomed. This 4-bed, 2.5-bath semi custom home features: PAID OFF SOLAR, BRAND NEW Trane A/C unit installed and OWNED HALO 5 water filtration syst.,Freshly painted inside and out, front & backyard pavers, custom RV gate, Chef's Kitchen Appliances(Thermador), granite counters, oversized island. Great Room offers an outstanding view to the backyard with custom automated shades. Primary Suite has walk in shower & separate vanities. Split Floor plan,vinyl plank flooring in all the right places. Take in the mountain views from the oversized backyard. Enjoy the real grass, beautiful palm trees and evenings sitting around the fire-pit. Mini split in 2 car garage. Custom cabinetry and freshly painted walls in both garages.

3629 W Amerigo Court Anthem, AZ 85086

$669,900
5 Beds
3 Baths
3,389 SqFt
Status Active
MLS # 6760593
Property Type Single Family Residence
Price Type --
COVETED UPGRADED GEM IN PRIME LOCATION WITH POOL!!! Featuring a flowing floor plan w/ wide open kitchen boasting quartz counters, upgraded cabinetry, stainless and black appliance ensemble & walk-in pantry, upgraded flooring throughout, full bedroom/ bath (w/ shower) downstairs, amazing speak easy bar area as you enter the home, huge primary suite w/ impressive spa-like bath boasting double sinks, separate glass enclosed shower/ soaking tub & massive closet, low maintenance backyard w/ incredible oversized pool with waterfall, extended pool decking & room for additional touches. Ideally located in award winning Anthem community w/ awesome parks, schools, shopping, dining & entertainment options nearby! COME CHECK IT OUT TODAY!!!

6501 W Crocus Drive Glendale, AZ 85306

$669,900
4 Beds
3 Baths
2,561 SqFt
Status Active
MLS # 6772871
Property Type Single Family Residence
Price Type --
Take advantage of this charming tri-level home with no HOA! This beauty displays brick accents, a verdant front yard, a 3-car garage, and a courtyard. Be welcomed by an inviting living room adorned with vaulted ceilings, plantation shutters, and a trending palette complemented by beautiful wood-look tile flooring. Continue onto the lower level and find formal dining and sizable family rooms featuring a brick-wall fireplace, great for cold evenings. Kitchen is fully equipped with granite counters, white cabinetry, a tile backsplash, recessed lighting, a pantry, and a breakfast nook. Upstairs, the main retreat has plush carpeting, a pristine ensuite with dual sinks, and a walk-in closet. Out the back, you have a covered patio & a refreshing pool ready to enjoy. Don't miss out!

70 W Roadrunner Drive Chandler, AZ 85286

$669,900
4 Beds
2.5 Baths
2,750 SqFt
Status Active Under Contract
MLS # 6675936
Property Type Single Family Residence
Price Type --
ASSUMABLE LOAN AT 2.75%!! -- Open to Veterans, Non-Veterans AND INVESTORS! Don't miss this recently remodeled home in Chandler. Oversized kitchen was recently updated and all new flooring throughout the home. Features 4 bedrooms and an office, an oversized loft, 2.5 baths with a 1 car garage separate from the 2 car garage. All appliances are included. Step into the back yard with the large covered patio, diving pool and spa.

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