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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10150 E Thistle Avenue Mesa, AZ 85212

$669,000 - 4Br/4Ba -  for Sale in Cadence At Gateway Phase 3 Parcel U, Mesa
New
$669,000
4 Beds
3.5 Baths
2,794 SqFt
Status Active
MLS # 6782743
Property Type Single Family Residence
Price Type --
Stunning 4-Bedroom Home with Modern Upgrades in Cadence! Welcome to this beautifully upgraded home located in the desirable community of Cadence. Built in 2021, this spacious 4-bedroom, 3.5 bathroom residence features an office and a versatile loft, offering ample space for work and play. The heart of the home is the chef's kitchen, complete with quartz countertops, luxury LVP flooring, and top-of-the-line appliances. The open-concept living area boasts a large stackable back slider, seamlessly connecting the indoor and outdoor spaces. Step outside to enjoy the low-maintenance backyard with artificial turf and a covered patio, perfect for relaxing or entertaining. Enjoy the amazing community amenities including 2 resort style pools, featuring waterslides and a splash pad.

44421 N 12th Street New River, AZ 85087

$669,000
4 Beds
2.5 Baths
2,219 SqFt
Status Active
MLS # 6769371
Property Type Single Family Residence
Price Type --
PRICED BELOW COMPS! Don't miss this cozy 4 bed, 2.5 bath territorial home. NO HOA! 3 car garage. Nestled in the serene landscape of New River, this property offers breathtaking views of the surrounding mountains and open spaces. Living/dining areas are separated from the kitchen/family room, maximizing comfort and functionality. The spacious kitchen has a gas range, upgraded cabinetry, granite counters and beautiful stainless steel appliances. The whole house generator ensures uninterrupted power supply, adding convenience and peace of mind. Ideal for horse enthusiasts, featuring ample space for corral and horse related activities. Included is a 10x20 storage shed that can hold your off roading toys and more. 2 119-gal propane tanks. A greenhouse. Easy care artificial turf. Freshly painted exterior and 2 new garage doors and openers. Views of the mountains off both patios are amazing! Awesome sunsets. Very private at the end of the cul-de-sac. Close to TSMC, 101, 303 and the I-17 freeways. Less than a mile away from the entrance to the Tonto National Forest. This home has so much to offer - don't miss this one

21320 N 56th Street Unit 2145 Phoenix, AZ 85054

$669,000 - 2Br/2Ba -  for Sale in Bella Monte At Desert Ridge Condominium Amd, Phoenix
Open House
$669,000
2 Beds
2 Baths
1,843 SqFt
Status Active
MLS # 6756142
Property Type Apartment
Price Type --
Carefree resort lifestyle in an incredible location! Just steps to three pools, workout facilities, and gas grills in this gated community. Walk to more than 160 shops and restaurants at High Street, Desert Ridge Marketplace and City North's new mixed-use development.! Easy access to the 101 freeway, Mayo Clinic, Scottsdale, PHX, and more, just lock and go. This 2-bed + flex, 2-bath, 1,843 sq. ft. residence overlooks green-space and features a spacious covered balcony, gas fireplace, granite countertops, large primary suite with walk-in closet, and an oversized 2-car garage.

838 E Harvard Avenue Gilbert, AZ 85234

$668,900
4 Beds
3 Baths
2,733 SqFt
Status Active Under Contract
MLS # 6706778
Property Type Single Family Residence
Price Type --
This property features four spacious bedrooms, including a convenient downstairs bedroom and a luxurious primary suite upstairs. The loft overlooks a grand living room, offering an open and airy feel. The farmhouse-style kitchen is a chef's delight, perfectly blending rustic charm with modern amenities. The family room, complete with a cozy fireplace, is ideal for gatherings and relaxation. Architectural creativity shines throughout this home, with the primary suite boasting a modern design, a custom barn door bathroom enclosure, a garden tub, and a separate shower. Step outside to your own private oasis: an expansive backyard with artificial turf, diving pool, large yard, built-in BBQ, and a dedicated dog-run. New AC and Pool Pump 2022 EV Hookup in 3 car garage. New roof 10/2024 Located on a corner lot in a tranquil cul-de-sac, this home promises both privacy and community charm. This home is ideally situated close to Freestone Park in the coveted Circle G Meadows community. With no HOA and plenty of room for your RV and toys, you'll enjoy both convenience and freedom. Don't miss the opportunity to own this unique, beautifully designed home! Seller is willing to contribute flooring allowance to enhance a cohesive look throughout.

3131 N Central Avenue Unit 3012 Phoenix, AZ 85012

$668,880
2 Beds
2 Baths
1,419 SqFt
Status Active
MLS # 6629974
Property Type Apartment
Price Type --
*Construction Completed* 5% BUYER INCENTIVE! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom plus den condo 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. 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.

2440 W Rowel Road Phoenix, AZ 85085

$668,680 - 4Br/4Ba -  for Sale in Aster At Union Park - Norterra, Phoenix
Open House
$668,680
4 Beds
3.5 Baths
2,511 SqFt
Status Active
MLS # 6748781
Property Type Single Family Residence
Price Type --
NEW HOME at Aster! This home offers 2,511 sq ft of living space with 4 bedrooms, 3.5 bathrooms, large 2-car garage, walk-in closets in every bedroom and the primary and secondary bedrooms feature their own ensuite bathrooms for added privacy and comfort This home features the Elevated Design package of upgrades, including 42' White cabinets, quartz countertops, custom backsplash, large island, luxury vinyl plank and tile floors, stainless-steel GE Profile kitchen appliances and single bowl sink. Bathrooms have quartz countertops & Kohler undermount sinks. Quality and energy efficient tankless hot water heater, Tech Shield roof barrier & wet cellulose insulation. Union Park, residents can indulge in amenities including a resort, pool, clubhouse, Pickleball courts, playgrounds and more

12312 W Luxton Lane Avondale, AZ 85323

$668,000
4 Beds
3 Baths
2,497 SqFt
Status Active
MLS # 6696707
Property Type Single Family Residence
Price Type --
This 4-bedroom 3-bathroom home that boasts 10 foot ceilings, 8 foot interior doors and a 3 car garage. Designer finishes throughout make this home as beautiful as it is functional. The gourmet kitchen features an oversized island, upgraded countertops and cabinets and GE stainless steel appliances. You will love the finishes throughout the home including designer selected tile flooring, upgraded carpet and pad in all bedrooms and gorgeous backsplash in the kitchen and Owner's Bath. Find time for yourself in your huge Owner's Retreat with a large bathroom featuring a Super Shower with tile surrounds and oversized walk in closet. Your 16' multi-slide glass door opens to a large covered patio and oversized backyard. 2x6 construction and extensive new home warranty.

7209 W Larkspur Drive Peoria, AZ 85381

$668,000
5 Beds
3 Baths
3,267 SqFt
Status Active
MLS # 6759869
Property Type Single Family Residence
Price Type --
Welcome to this spacious 5-bedroom, 3-bathroom basement home situated in a well-established neighborhood within the highly sought-after Peoria School District. Inside, you'll find a thoughtfully designed floor plan that offers spacious living areas and modern amenities. The main floor features the primary suite along with a guest bedroom and bath, both of which have been recently updated. The finished basement includes a large family room, three additional bedrooms, and another guest bath, ideal for those seeking extra space and flexibility, multi-generational living, or entertaining guests. Step outside to an entertainer's dream backyard. The sparkling pool is perfect for relaxation and enjoyment, while the outdoor kitchen sets the stage for al fresco dining and summer barbecues. The custom playground and inground trampoline are great features for outdoor enjoyment and recreation. The oversized cul-de-sac lot showcases artificial turf in both the front and back yards, enhancing practicality and curb appeal. Additionally, a spacious storage shed in the side yard offers convenient space for tools, toys, or seasonal items. This property is nestled in a desirable community with access to excellent schools and nearby amenities, making it the perfect combination of comfort, functionality, and entertainment. Don't miss the chance to make this your forever home!

3802 W Mission Lane Phoenix, AZ 85051

$668,000
7 Beds
4 Baths
2,618 SqFt
Status Active
MLS # 6763951
Property Type Single Family Residence
Price Type --
Calling all Investors, This turn-key house provides immediate cash flow, with individual rooms already rented out. (pad split). The property includes six fully furnished bedrooms designed for maximum rental income, as well as a separate one-bedroom, one-bath guest house. This arrangement provides flexible living options and helps to offset mortgage costs while generating a reliable income stream. With its appealing features and prime location, this property serves as both a smart investment and a cozy home.

3734 E Rochelle Circle Mesa, AZ 85215

$667,970
4 Beds
3 Baths
1,972 SqFt
Status Active
MLS # 6761892
Property Type Single Family Residence
Price Type --
End of year builder inventory closeout, price cut to sell. Charming Farmhouse 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 oil rubbed bronze hardware and fixtures. Builder finance incentives. Taxes est. Most pics are of a model home

3757 S Honeysuckle -- Mesa, AZ 85212

$667,623
4 Beds
3 Baths
2,474 SqFt
Status Active
MLS # 6754741
Property Type Single Family Residence
Price Type --
MLS#6754741 Ready Now!! Introducing the Cambridge at Hawes Landmark, a stunning single-story floor plan offering thoughtfully designed living space. This home features 4 bedrooms, 3 bathrooms, an exercise room making it the perfect blend of style and functionality. Step through the welcoming porch into a spacious foyer that leads you past the secondary bedrooms, two full baths, a study, and a convenient laundry room. The open-concept kitchen boasts a gas cooktop, double ovens, 42'' upper cabinets, elegant maple cabinetry with white quartz countertops, and a custom backsplash. Flowing seamlessly into the great room and dining area, this layout is ideal for both relaxing and entertaining. The private primary suite features dual vanity, and a split tub and a shower. Structural options include: gourmet kitchen, paver front porch, exercise room in lieu of tandem, soft water loop, and gas line for future outdoor use.

7445 W Quail Track Drive Peoria, AZ 85383

$667,250 - 3Br/3Ba -  for Sale in Aloravita North Phase 3 Parcel 4, Peoria
Open House
$667,250
3 Beds
2.5 Baths
2,051 SqFt
Status Active
MLS # 6734111
Property Type Single Family Residence
Price Type --
Corner lot, no back neighbor-ready to call home in October 2024. Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'El Dorado' floorplan features 3 full bedrooms, 2.5 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes Burlap Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 9' ceilings, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Photos of similar spec home, options may vary-home is under construction**

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