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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1295 E Elysian Pass San Tan Valley, AZ 85140

$664,900 - 2Br/2Ba -  for Sale in Encanterra Shea Homes At Johnson Farms, Neighborhood 3 201209, San Tan Valley
Open House
$664,900
2 Beds
2 Baths
1,949 SqFt
Status Active
MLS # 6780498
Property Type Single Family Residence
Price Type --
Step into luxury with this stunning ''Nice'' plan home, designed to impress. The gourmet kitchen boasts top-of-the-line appliances, custom light fixtures, and a beautiful backsplash. Enjoy the rolling wall of windows that open to an expansive backyard oasis with a spacious patio, cozy fireplace, lush turf grass, extended travertine pavers, mature trees, and a fenced yard—perfect for entertaining or relaxing. The den, with its custom-built bookcase, is ideal for a home office. The large laundry room offers ample cabinet space and an additional desk area. Located at Encanterra Golf & Country Club Resort, this well-maintained home offers world class amenities at your doorstep. Enjoy dining at La Casa, stay fit at the state-of-the-art fitness center, or unwind in the indoor pool and spa.

10337 E Brown Road Mesa, AZ 85207

$664,900 - 3Br/2Ba -  for Sale in Unknown, Mesa
Open House
$664,900
3 Beds
2 Baths
2,238 SqFt
Status Active
MLS # 6756063
Property Type Single Family Residence
Price Type --
**PRICE REDUCED! HORSE PROPERTY, AMAZING INVESTMENT POTENTIAL WITH RU43 ZONING! Welcome to this expansive 3-bedroom, 2-bathroom ranch-style home in Mesa, sitting on OVER AN ACRE OF LAND! With 2,238 sq. ft. of living space and a total lot area of 46,623 sq. ft., this property is perfect for those seeking space, privacy, and versatility. As you enter, you'll notice the tile flooring throughout the house, adding durability and a cohesive look. The spacious living and dining areas provide ample room for gatherings and family time. The kitchen features a convenient island and plenty of cabinets, making it ideal for cooking and storage. The bedrooms are generously sized, with the primary suite offering a walk-in closet and a bathroom with double sinks for added comfort. There's also an indoor laundry hookup for your convenience. The exterior boasts a huge covered patio, ideal for outdoor entertaining or relaxing in the shade. The roof was updated in 2016, and the brand-new A/C unit ensures the home stays cool year-round. The water heater was replaced in 2023, giving you peace of mind. This property is a horse lover's dream, featuring a stable and corral with plenty of space for riding or caring for animals. An additional garage and shed provide extra storage, and with over an acre of land, there's ample room for expansion or customization. There's also potential to convert part of the home into a separate apartment, creating opportunities for rental income or multi-generational living. The motivated seller is ready to make a deal, so don't miss out on this fantastic opportunity to own a spacious, versatile property in a great Mesa location.

917 E Furness Drive Gilbert, AZ 85297

$664,900 - 4Br/3Ba -  for Sale in Layton Lakes Parcel 7 Replat, Gilbert
Open House
$664,900
4 Beds
2.5 Baths
2,104 SqFt
Status Active
MLS # 6776254
Property Type Single Family Residence
Price Type --
Discover this stunning 4-bedroom gem in Layton Lakes! 2 story home with 4 bedroom and 2.5 bath. Enjoy the great room with updated LVP floors that will lead you to the gorgeous kitchen with granite counter tops, new backsplash, spacious pantry and an Eat-in bar, matching SS Appliances, GAS Range & Dining Space. On the first floor you can also find a large laundry room and a half bath. Upstairs you will find 4 bedrooms, main bath with dual sinks. Primary Bath has Dual Vanity Sinks, Separate Walk-In Shower / Garden Tub & CUSTOM Master Closet with A LOT of storage space. The amazing backyard features built in BBQ, sparkling pool, artifical grass. perfect for enjoying outside entertaining! The community has tennis courts for residents only, Parks, Playgrounds & Walking path TOP Rated Schools, Dining & Shopping. Community Amenities!

8594 E Kelly Road Prescott Valley, AZ 86315

$664,400
4 Beds
3 Baths
2,575 SqFt
Status Active
MLS # 6721065
Property Type Single Family Residence
Price Type --
Motivated seller! Enjoy spectacular sunsets and views from this 4 bed/3 bath home. 5th bedroom accessed through another bedroom. This lovingly built owner constructed home is on a level 10 acre parcel conveniently located close to highway 89A. Super desirable area just off Coyote Springs Rd. The original owner lovingly built this unique house with many special features: a fireplace that heats the entire house, and a basement bunker. 1200 sq ft metal workshop building with a security system which can house 6-8 vehicles and has living quarters with kitchen and bath. Plenty of room for RVs and toys, horse facilities or countless other possibilities! New vinyl plank flooring, new HVAC and newly remodeled kitchen. Only 22 minutes to the heart of Prescott, and a quick ride to Jerome/Phoenix.

537 N Jay Street Chandler, AZ 85225

$664,000
4 Beds
2 Baths
2,436 SqFt
Status Active
MLS # 6750757
Property Type Single Family Residence
Price Type --
Step into timeless Vintage - fabulous 4bedroom-3 min Downtown Chandler-block build & original-yet trending Plaster Design Finish/Textured walls blend harmoniously w/ the authentic charm of 70's -ERA cupboards, stunning saltillo tiles that grace each room. 3wall ovens/Open kitchen floor plan, designed for both culinary delights/comfortable seating for over twelve guests, making every meal a memorable event. Experience the warmth of the family room's cozy fireplace & view of the patio. Then another fireplace providing unique ambiance in the fourth bedroom, which doubles as a study. Outside, the deep diving pool offers endless family fun & relaxation, making this home a truly once-in-a-lifetime opportunity to own a piece of history w/the luxury of todays' modern feel

15134 W Corrine Drive Surprise, AZ 85379

$664,000 - 5Br/4Ba -  for Sale in Marley Park Parcel 5, Surprise
Open House
$664,000
5 Beds
3.5 Baths
3,505 SqFt
Status Active
MLS # 6766081
Property Type Single Family Residence
Price Type --
Gorgeous Marley Park home with 5 bedrooms, 3.5 bath, den, loft, casita with private entrance, and 3 car garage has been meticulously maintained. Chefs kitchen with oversized island, granite countertops, backsplash, gas stove, butlers pantry and custom farm sink. Upstairs features large primary suite with double sinks, separate tub and shower, 2 walk in closest. 3 guest bedrooms have private bathrooms. This home also features wood-look tile, plantation shutters, built in bookcase, custom iron door, garage cabinets w/ epoxy floors. PLUS OWNED SOLAR. Its resort-style backyard boasts great outdoor living, gracious pool with swim up bar, waterfall feature, built-in BBQ, travertine floors and pergola. This home is located minutes away from the new Prasada shopping and restaurant district.

4703 E Preserve Way Cave Creek, AZ 85331

$663,500
5 Beds
3 Baths
2,230 SqFt
Status Active
MLS # 6772228
Property Type Single Family Residence
Price Type --
**PAID OFF SOLAR SYSTEM**Discover this stunning home nestled on a cul-de-sac lot in a exclusive gated community. Spanning 2,230 sqft, the open layout welcomes you with a stylish kitchen featuring elegant wood cabinets and stainless steel appliances, perfect for culinary adventures. Natural light pours through shuttered windows, illuminating the spacious living area—ideal for cozy evenings or lively gatherings. Step outside to your personal oasis, complete with a sparkling pool and relaxing jacuzzi, perfect for entertaining or unwinding in privacy. Retreat to the luxurious owner's suite, boasting a spa-like ensuite with double sinks, a separate shower, a soaking tub, and an expansive walk-in closet. With four additional well-appointed bedrooms and two more bathrooms, this home blends elegance and functionality, offering a serene lifestyle in a secure community.

2717 N 216th Avenue Buckeye, AZ 85396

$663,219
4 Beds
3.5 Baths
2,639 SqFt
Status Active
MLS # 6743381
Property Type Single Family Residence
Price Type --
Ready in November!! Brand New Never Lived In! Discover your mountain-view sanctuary in Arizona! This 4-bed, 3.5-bath home with a 2.5-car garage offers a quick move-in. Nestled in The White Tank Mountains, enjoy privacy and stunning views. Energy-efficient home. Welcome to The Juniper Floor Plan, a magnificent single-story haven meticulously designed to offer space, comfort, and versatility. Boasting an expansive 2,639 square feet, this home features 4 bedrooms, 3.5 bathrooms, and a 2-car garage, along with two additional flex rooms.

25149 N 171st Avenue Surprise, AZ 85387

$663,161
4 Beds
3 Baths
2,660 SqFt
Status Active
MLS # 6776904
Property Type Single Family Residence
Price Type --
MLS#6776904 March Completion! Experience true multigenerational living with the Zion plan at Asante! Step through the welcoming porch into the foyer. To one side, discover a private multi gen suite featuring a bedroom, a dedicated living area, bathroom, a one-car garage, and a separate entry from the outside as well as into the main home. In the main home, you'll find a formal dining area, a powder room, a laundry room, and entry to your two-car garage. At the heart of the home, a spacious great room seamlessly connects to a kitchen with an island, casual dining space, and covered outdoor living area. Tucked away in the back, the primary suite offers a spa-inspired bathroom and a large walk-in closet—your perfect retreat. Structural options include: paver front porch, garage service door, interior door at hall , interior door at multi-gen living, tile super shower at primary, gourmet kitchen, and pre-plumb for laundry sink.

19781 S 231st Way Queen Creek, AZ 85142

$663,003
3 Beds
3 Baths
2,290 SqFt
Status Active
MLS # 6583849
Property Type Single Family Residence
Price Type --
READY FOR MOVE IN!! 5 BEDROOM, 3 BATH 10 'CEILINGS, GOURMET KITCHEN LAYOUT, UPGRADED CABINETS, QUARTZ KITCHEN TOPS, TILE FLOORING, ALL THIS, IN THE NEW PREMIER MASTER PLAN COMMUNITY, IN QUEEN CREEK, FEATURING A 22 ACRE LAKE. THIS IS THE CENTERPIECE OF THE COMMUNITY. KAYAKING AND CANOEING, AQUATIC CENTER WITH LAP AND SPORT POOL SPLASH PAD, BOCCE BALL, PICKLE BALL, BOARDWALKS AND RAMADAS THROUGHOUT AND MUCH MORE.. THE HOME INCULDES 2'' FAUX WOOD BLINDS, CEILING FANS, TANKLESS WATER HEATER+++ KATHERINE MECHAM BARNEY SCHOOL IN THE COMMUNITY.

17978 W Long Lake Road Goodyear, AZ 85338

$662,995
5 Beds
3 Baths
2,612 SqFt
Status Active
MLS # 6772553
Property Type Single Family Residence
Price Type --
Modern family deluxe. The Kenly's welcoming extended covered porch and inviting foyer hallway flow right into the spacious great room and bright casual dining area, with views to the desirable covered patio beyond. The well-designed gourmet kitchen is equipped with a large center island with breakfast bar, plenty of counter and cabinet space, and ample walk-in pantry. The superb primary bedroom suite is complete with a king-size walk-in closet and spa-like primary bath with dual-sink vanity, large luxe shower, and private water closet. Central to a generous loft, secondary bedrooms feature sizable closets and shared hall bath with separate dual-sink vanity area. Additional highlights include a versatile office, convenient powder room, centrally located laundry, and additional storage.

9951 S Centennial Road Apache Junction, AZ 85120

$662,990
4 Beds
3.5 Baths
3,344 SqFt
Status Active
MLS # 6750717
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 Casoria floor plan presents a sophisticated two-story layout featuring four bedrooms, an upstairs loft, and a versatile flex space perfect for an office, TV room, or study. Enhanced by professionally landscaped front yard, this home will be ready for occupancy in October or November. Ideally situated near community parks, grocery stores, and a variety of restaurants.

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