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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2608 E Elk Run Court Payson, AZ 85541

$665,000
2 Beds
3 Baths
1,484 SqFt
Status Active
MLS # 6773123
Property Type Single Family Residence
Price Type --
Single Level, NO STEPS !! Built In 2013 Two Split Master Suites Both With Stunning Views Of The Forest. Open Great Room Floor Plan With Vaulted Ceilings And A Stone Fireplace. The Rear Yard Backs To A 10 Acre Park Setting Of Tall Ponderosa Pine Trees And Lush Green Grass All Maintained By The Golf Club Owner. Scraped Hickory Wood Floors In The Great Room Along With 8 Ft. Tall Stained Knotty Alder Doors Thru Out & Matching Knotty Alder Cabinetry Give This Home A Feeling Of Rustic Elegance. Granite Tops, Ceramic Tile Walk In Showers And Large Walk In Closets In The 2 Master Suites Provide You With All The Comforts You Expect. A Powder Room For Your Guests And A Walk In Utility Room Provide Great Fashion & Function. The Attached 2 + Car Garage Has Room For Your Golf Cart . Additional Storage Needs Are Provided By Way Of The Pull Down Attic Stair System With A Large Plywood Floor Storage Space . Walking Distance To The 1st Tee , Golf Practice Facility , Clubhouse Dining & Lounge. Low Maintenance Exterior Concrete Siding. Extremely Well Insulated Walls, Ceilings And Windows Help Keep Utility Bills Affordable. Words Cannot Properly Describe This Offering, Please Come See For Yourself! Furniture is available by separate agreement for an additional amount of money.

1934 E Secretariat Drive Tempe, AZ 85284

$665,000
3 Beds
2 Baths
2,120 SqFt
Status Active Under Contract
MLS # 6733514
Property Type Single Family Residence
Price Type --
Welcome to your dream home in Tempe! This updated, single-level 3-bedroom, 2-bathroom home is an entertainer's paradise, featuring a pebble-tec pool and an expansive covered patio. Discover modern elegance with shaker-style cabinets and granite countertops in the kitchen, along with a tiled backsplash, stainless steel appliances, and a wine refrigerator. The master suite offers a dual fixture shower with a rain head, while the hall bath features a tub/shower combo. Enjoy the private backyard with a sunken brick patio, fireplace, and synthetic grass. This home includes dual-pane low-E windows, a new roof installed in July 2021, and a brand-new AC installed in 2023. Located in the Kyrene School District, this home offers an unbeatable South Tempe location.

15835 W Desert Mirage Drive Surprise, AZ 85379

$665,000
4 Beds
2.5 Baths
3,905 SqFt
Status Active
MLS # 6754114
Property Type Single Family Residence
Price Type --
Welcome to this stunning 4 bedroom, 3 bathroom home, with 3 spacious loft areas and an array of luxurious features. Step inside to find gorgeous tile flooring throughout the entire first floor, soaring ceilings, elegant light fixtures and ceiling fans, and a cozy fireplace perfect for relaxation. The primary bedroom is conveniently located downstairs includes an updated en-suite bathroom and huge closet. The kitchen is spacious and features stainless steel appliances, cooktop, micro/oven, ample cabinet and countertop space and a large center island, perfect for entertaining. Upstairs enjoy new carpeting throughout entire 2nd floor, and enjoy the 3 spacious loft areas, the balcony offers a picturesque view of the backyard, grass and pool area. Hidden Room, see if you can find it?

10538 W Quail Avenue Peoria, AZ 85382

$665,000 - 4Br/3Ba -  for Sale in Camino A Lago South Parcel 1, Peoria
Open House
$665,000
4 Beds
3 Baths
2,021 SqFt
Status Active
MLS # 6767382
Property Type Single Family Residence
Price Type --
Step into this HIGHLY UPGRADED ever popular layout in the blossoming Camino A Lago neighborhood! From the moment you enter, you'll feel right at home with the light and inviting open-concept floor plan, featuring spacious living and dining areas perfect for both relaxing and entertaining. The beautifully designed kitchen features soft-close shaker cabinets, gourmet stainless appliances with gas cooktop & double wall oven/micro, walk in pantry with custom floor-to-ceiling shelving, & expansive island with gleaming quartz countertops, designer backsplash & pendant lights. The generous primary bedroom offers a peaceful retreat with dual sinks, large spa-worthy shower, & dreamy custom designed walk-in closet system. The secondary bedrooms are pristine & include nicely sized closets & ceiling fans w/lights. Additional features include wood-like tile throughout, plantation shutters and remote-controlled blinds, recessed lighting, added laundry cabinets, 3-way thermostat, & Smart Home technology. Enjoy the peaceful, low maintenance backyard with extended pavers and artificial grass. Nice 3-car garage with epoxy flooring, NEMA 14-50/40 amp 240V EV outlet, tankless gas water heater, water softener and room for storage. Excellent Peoria location with many shopping options & top-rated A+ schools, plus community walking/ biking trails, greenspace, and playground. Don't miss out on this gorgeous home!

6181 S Granite Drive Chandler, AZ 85249

$665,000 - 2Br/2Ba -  for Sale in Lone Tree, Chandler
Open House
$665,000
2 Beds
2 Baths
2,008 SqFt
Status Active
MLS # 6781646
Property Type Single Family Residence
Price Type --
You'll love this 2 bed, 2 bath PLUS den home in the lovely 55+ gated Lone Tree Community! There's so many upgrades you won't want to miss! The great room area allows for relaxed living & easy entertaining with the upgraded kitchen open to the dining & family room. The kitchen offers 42 in painted gray cabinets, custom tile backsplash, granite counters, gas cooktop, reverse osmosis & stainless appliances. The kitchen also has pull-out drawers in cabinets for easy access & a large pantry. The main bedroom is a true retreat with a luxurious ensuite bath complete with dual vanity with upgraded quartz counters, vessel sinks, newer lighting & faucets & feature wall. The large walk-in closet is not to be missed! The guest bedroom is oversized & comfortably fits a king bed. It's split from from the master & is adjacent to the guest bath with upgraded vanity featuring a vessel sink, granite counter & upgraded lighting. The office/den could be a 3rd bedroom & offers plenty of space for your needs. Step out back & relax in your beautiful back yard with covered patio, nice landscaping & upgraded Shasta pool - a perfect place to cool off. This pool is heated & cooled & can be fully run from your phone app! The laundry is fabulous as it is oversized & offers loads of cabinets, a sink & quartz counters. Upgraded engineered hardwood flooring throughout all the common areas, plantation shutters throughout, two-tone paint & more! All this plus a 2-car garage complete with heated & cooled workshop area! Hurry to view this property - this won't last long!

3297 E Saddletree Way San Tan Valley, AZ 85140

$664,990
4 Beds
3 Baths
3,024 SqFt
Status Active
MLS # 6781860
Property Type Single Family Residence
Price Type --
Welcome to Wales Ranch! San Tan Valley's newest master planned community with a wealth of amenities to enjoy. Conveniently located with easy access to great local attractions and amenities, including shopping and dining at Queen Creek Marketplace, outdoor recreation at San Tan Regional Park, fresh produce at Schnepf Farms and popular sites such as Queen Creek Olive Mill. A copy of the public report is available on the Arizona Department of Real Estate's website.

18950 W Ocotillo Road Waddell, AZ 85355

$664,990
4 Beds
3 Baths
2,623 SqFt
Status Active
MLS # 6739881
Property Type Single Family Residence
Price Type --
MOVE IN BEFORE THE HOLIDAYS!!! Topaz floor plan with 4 bedrooms + study, 3 baths. Large multi slide door off the great room and leads out to the extended covered patio. Pavers at drive, walk and entry. Stainless steel 36'' gas cooktop, wall oven, micro, canopy hood. Sonoma Maple Slate (gray) cabinets with pull out trash drawer, 42'' kitchen uppers, and stainless steel under mount single bowl kitchen sink. Himalaya white granite countertops in kitchen and owner's bath. 8' tall interior doors. Upgrade flooring includes EMS Novales 12x24 Astra tile in all areas of the home except beds/closets. 5'' baseboards and 3 1/4 door casings throughout. Dual sinks at bath 2, 8' tall garage door with two controls, garage service door for easy access into the backyard and so much more.

787 W Rock Needle Trail Apache Junction, AZ 85120

$664,990
4 Beds
3 Baths
2,607 SqFt
Status Active
MLS # 6750732
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 Livorno floor plan offers a stylish single-story design with four bedrooms, an All Gen suite, and a spacious flex area ideal for an office, TV room, or study. The home includes front yard landscaping and will be ready for occupancy in October. Conveniently located near community parks, grocery stores, and a variety of dining options.

42205 N Golden Trail San Tan Valley, AZ 85140

$664,990 - 4Br/3Ba -  for Sale in Edgewood Estates, San Tan Valley
Open House
$664,990
4 Beds
3 Baths
2,513 SqFt
Status Active
MLS # 6709618
Property Type Single Family Residence
Price Type --
Nearly complete and ready for a QUICK Move-in!!! - Welcome to Edgewood Estates located in the convenient Queen Creek Corridor. This Belfast plan home includes our Extra Suite Plus with private entrance, ideal for multigenerational living or guests. The focus of the home is the large great room with a 12' sliding glass door and stunning kitchen with Loft inspired interior selections including grey cabinets accented with open shelving and upgraded Bosch stainless-steel appliances. A split floorplan makes the Primary Suite is a private oasis accented with a spa-like bath. Solar prewire and an EV charger outlet in the garage included making it a Department of Energy ''Zero Energy Ready Home' certified. Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

15270 E Countryside Road Mayer, AZ 86333

$664,900
3 Beds
3 Baths
2,437 SqFt
Status Active
MLS # 6781865
Property Type Single Family Residence
Price Type --
Welcome to this stunning Santa Fe-style home set in the gated community of Bensch Ranch, where impressive mountain views and contemporary design come together. Enjoy main-level living with the added versatility of a walk-out basement, all within a spacious, upgraded home. Upon entering, you're greeted by an open floor plan, anchored by beautiful tile flooring that flows through the main level. The living room is an inviting space, boasting a wall of windows on two sides that frame the picturesque views, creating a stunning backdrop for gatherings. Cozy up by the fireplace on cooler evenings or simply relax while soaking in the natural beauty just beyond the glass. The kitchen features stainless steel appliances, gleaming quartz counters, & high-quality solid wood knotty hickory cabinets. Retreat to the primary bedroom, where a rain glass double-door entry, bay windows, and an elegantly appointed ensuite await. The ensuite bathroom is complete with double vanities, a luxurious jetted tub, and a separate walk-in shower. The main level also includes a secondary bedroom, a full bathroom, a convenient laundry room, ample storage, access to a spacious 3-car garage, and direct access to the oversized Trex viewing decka perfect spot to unwind while enjoying unobstructed mountain views. The lower level provides even more space for relaxation or entertainment, featuring a family room with walk-out access to a covered patio, a third bedroom, and an additional bathroom. Outside, this 3/4-acre property includes access to community amenities, such as a clubhouse with a pool, fitness center, and backs up to dedicated HOA space. With this property only being 4 miles west of I-17 off HWY 69, this serene retreat offers mild seasons and convenient access to popular retreats across Arizona. 1 hour from Sedona, 1 hour from Phoenix, less than 1 ½ hours from Flagstaff, this home is truly the ideal blend of comfort, style, and convenience.

8180 E Shea Boulevard Unit 1038 Scottsdale, AZ 85260

$664,900
2 Beds
2.5 Baths
1,733 SqFt
Status Active
MLS # 6718983
Property Type Townhouse
Price Type --
This beautifully updated 2-bedroom, 2.5-bathroom condo in the heart of Scottsdale is available fully furnished. The open-concept living and dining area, enhanced by natural light and a cozy fireplace, creates a warm and inviting atmosphere. The updated kitchen boasts granite countertops, new stainless steel appliances, and ample cabinet space, perfect for cooking at home. The luxurious master suite features a walk-in closet and an en-suite bathroom with a dual-sink vanity, and a nicely updated walk-in shower. The community offers a pool with a covered area. Located just minutes from Loop 101, this home provides easy access to top shopping, dining, and entertainment, as well as top-rated schools and parks. W With 1,733 sq. ft. of living space, a direct-entry 2-car garage, and bedrooms both upstairs and downstairs, this unit is perfect as a second home or for someone seeking low-maintenance living.

22611 N 70th Drive Glendale, AZ 85310

$664,900
4 Beds
2 Baths
2,066 SqFt
Status Active Under Contract
MLS # 6768445
Property Type Single Family Residence
Price Type --
$20,000 PRICE REDUCTION from original price. Come & See this GORGEOUS, MODEL SHARP, BEAUTIFULLY UPDATED & REMODELED (over $112K, see photo #2), 4 bed 2 bath single level home on cul de sac w/ RV Gate & 3-car garage in Hillcrest Ranch. Elegant kitchen w/ quartz counters, white cabinets w/ hardware, SS appliances, breakfast-bar island & spacious eat-in kitchen that overlooks back yard. Soaring vaulted ceilings, open, bright, & neutral throughout with NEW windows, NEW Roof (underlayment & tiles), plantation shutters, exterior doors, exterior paint & more. Primary suite w/ exit overlooks back yard, remodeled bathroom, & walk-in closet. Enjoy your spacious back yard w/ sparkling pebble tec pool & REAL grass-NEW SOD added. Close to restaurants, shopping, & 101 freeway access. SEE FEATURES DOC!

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