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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21320 N 56th Street Unit 2163 Phoenix, AZ 85054

$659,000
2 Beds
2 Baths
1,843 SqFt
Status Active
MLS # 6764820
Property Type Townhouse
Price Type --
Fantastic location next to Desert Ridge, golf course, community pool, spa, green belts and loop 101 & 51 freeways. This townhome is one level with plantation shutters, crown molding and designer colors throughout. The kitchen has beautiful cherry raised panel cabinetry, dark columbo granite countertops, stainless steel appliances and an open great room. The bathrooms have Kona beige silestone countertops, tiled showers and tub surrounds. The oversized 2 car garage has shelving, water softener and a super quiet I-drive garage opener. The large back patio looks out across a greenbelt to the community pool & spa area.

1205 E Tradewind Drive Gilbert, AZ 85234

$659,000
4 Beds
2 Baths
1,975 SqFt
Status Active
MLS # 6765192
Property Type Single Family Residence
Price Type --
Dreaming of lakeside living? This stunning 4-bedroom, 2-bathroom home has it all. With a 3-car garage and a beautiful PebbleTec pool, relaxation awaits. The interior boasts fresh paint, new master bedroom carpet, modern light fixtures, and ceiling fans. The kitchen features updated hardware, a gas stove, and all new faucets throughout the house. Enjoy mesmerizing lake views from your boat dock and open floor plan, perfect for entertaining. The master suite offers a separate tub and shower, with vaulted ceilings in all bedrooms adding elegance. Located within walking distance to Gilbert High School and minutes from Downtown Gilbert, restaurants, shopping, and entertainment. Don't miss out on this gem!

13307 W Crown Ridge Drive Sun City West, AZ 85375

$659,000
2 Beds
2.5 Baths
2,580 SqFt
Status Active
MLS # 6776517
Property Type Single Family Residence
Price Type --
Welcome to your dream home in Sun City West! Perfectly situated on a golf course along the 18th tee, this property offers stunning mountain views and a wealth of desirable features. Enter into a meticulously maintained home, where recent upgrades include a new roof and owned solar system installed in 2020, fresh carpet in 2021, and new windows added in 2023 with updated window shades. The welcoming family room, complete with a cozy gas fireplace, also includes a wet bar, ideal for entertaining. With a second gas fireplace in the den and a fresh coat of paint throughout, this home has both comfort and style. Out front, you'll find easy-maintenance artificial grass added in 2023. Don't miss your opportunity—this home is priced to sell and ready to be enjoyed! Move-In-Ready!

2624 N 68th Place Scottsdale, AZ 85257

$659,000
3 Beds
2 Baths
1,397 SqFt
Status Active
MLS # 6777287
Property Type Single Family Residence
Price Type --
Beautiful 3 bedroom, 2 Bathroom, single story, blocks from Old Town Scottsdale home. This home features recently upgraded plumbing and electric. Pool was just completely renovated with pebble-tec and is heated with brand new smart heater. A/C unit is less than a year old and under warranty as well. Huge driveway, basketball hoop, lush green jungle like back yard. Safe neighborhood. Perfect for primary or investment property.

19832 N 95th Avenue Peoria, AZ 85382

$659,000 - 2Br/2Ba -  for Sale in Monterey Greens At Westbrook Village Lot 434-494, Peoria
New
$659,000
2 Beds
2 Baths
2,147 SqFt
Status Active
MLS # 6783077
Property Type Single Family Residence
Price Type --
Keeping with the latest trends in mind this completely remodeled home sits on a large corner lot on the Westbrook Village Golf Course. This stunning remodel features a spacious open floor plan with extensive use of tile, marble & stone. All new cabinets, fixtures, countertops, kitchen island, newer AC & more. Bedrooms are oversized, and there is also a multi-purpose room for your office or craft room. Community features include golf, pickleball, arts, social events & numerous clubs of your choice. Resort style living at a fraction of the cost.

11268 E Poinsettia Drive Scottsdale, AZ 85259

$659,000
3 Beds
2 Baths
1,566 SqFt
Status Active
MLS # 6737850
Property Type Single Family Residence
Price Type --
AMAZING OPPORTUNITY! to own a fully remodeled home in a fantastic Scottsdale location! spacious living/dining room w/built-in shelves, vaulted ceilings, fireplace in the living area, & sliding doors to the back patio.Chef's kitchen offers white cabinets w/crown molding, stainless steel appliances, large granite counters, a pantry, upgraded, designer light fixtures, & large center island.Split primary suite has a walk-in closet & an upscale bathroom w/dual vanities & Large soaking tub. All tile floors throughout! Delightful backyard has a relaxing covered patio & Pergola. Newer roof! This one won't last!

2041 E Loma Vista Drive Tempe, AZ 85282

$659,000
3 Beds
2 Baths
1,886 SqFt
Status Active
MLS # 6776218
Property Type Single Family Residence
Price Type --
Gorgeous single-level home in highly desired south Tempe location! This 3 bed, 2 bath, open floor-plan home is perfect for your main residence or investment property. Updated electrical panel, 3-system irrigation system controlled by Wi-Fi, new 50-gallon water heater, new whole home water softener, new RO system for sink, new garage door and new pool door! Vaulted ceilings in the great room with wood shutters and carpet (2021) Refreshed fireplace in the formal dining area and tile flooring with a built-in buffet. New windows installed throughout the home in 2021 plus all new carpet and baseboards. Chef's kitchen with new painted cabinets, all stainless-steel appliances, kitchen island with eat-up bar seating. Master suite with ensuite bath that has dual sink vanities, bay windows, and two closets. Fully paid off solar panels! Two large guest bedrooms with wood laminate flooring. Oversized garage and workshop! The back yard has been designed for entertainment! A mixture of grass and desert landscaping with large plush trees providing you plenty of shade. Private, diving pool that is fenced in for safety with new pool light. Plenty of space for extra patio furniture. Extended covered patio with misting system. Side R/V Gate and cemented area to put your boat, R/V or other items. Just minutes away from ASU, Tempe Marketplace, Phoenix Sky Harbor Airport and the Freeway system make this home an easy to get to haven!

9415 W Wild Turkey Lane -- Strawberry, AZ 85544

$659,000
3 Beds
3 Baths
1,916 SqFt
Status Active
MLS # 6741864
Property Type Single Family Residence
Price Type --
Escape the heat & hustle of urban life at your mountain retreat tucked in the side of the Mogollon Rim among towering Pines on a lush 0.85-acre lot. This nearly 2,000 sq ft split-level home features a floor plan that makes sense for all. Main level has kitchen & dining room, comfortable living room, primary suite w/ensuite bath, fun loft area, & large guest bedroom. Lower level has another bedroom, bathroom, large family room set up as a game room, and access to the back yard & garage entrance. Take in stunning views of Strawberry Mountain from the expansive wrap-around deck & large picture windows throughout. The 2.5 car garage is equipped w/built-in workshop space. The fenced backyard allows a smaller border within the large property. No HOA. Enjoy easy access to... ... Fossil Creek trailhead & Hardscrabble road system for unlimited recreational activity, the charm of Strawberry & Pine, and approx. 45 minutes from Blue Ridge Reservoir for water enjoyment. All furnishings are available outside of escrow.

20925 E Via Del Oro -- Queen Creek, AZ 85142

$659,000
4 Beds
3 Baths
2,402 SqFt
Status Active
MLS # 6744959
Property Type Single Family Residence
Price Type --
** PRICE REDUCED $10K ** Let's make this home yours! Everyone is loving the beautiful upgrades, entertainer's backyard, floor plan with separate downstairs guest quarters, and the killer location with walkability to golf, shops, restaurants, and parks. Relax in your spacious primary suite with soaking tub & dual walk-in closets, lay by the pool while your friends enjoy the putting green, or take a stroll through the fruit trees on your almost 1/4 acre lot. There's plenty of room to store your toys in the 3-car garage complete with overhead storage, water softener, and side entry door. And don't forget you also get access to the community center with community pool, golf course, gym, pickleball courts, etc! What more do you need? Let's go!

7710 E Gainey Ranch Road Unit 133 Scottsdale, AZ 85258

$659,000
2 Beds
2 Baths
978 SqFt
Status Active
MLS # 6747694
Property Type Townhouse
Price Type --
Welcome to your gorgeous retreat in the heart of Gainey Ranch! This beautifully updated 2-bedroom, 2-bathroom townhouse boasts an oversized patio perfect for entertaining or relaxation. Located on the first level with a garage, this home is situated in the serene community of The Courts at Gainey Ranch. Just steps away from the newly renovated Estate Club at Gainey Ranch, enjoy the lifestyle of tennis, pickleball, a workout facility, two heated pools and spas, and an events center. This is an ideal turnkey retreat in the heart of Scottsdale, with easy access to shopping, golf, entertainment, and more.

4002 N San Gabriel Circle Mesa, AZ 85215

$659,000
4 Beds
3 Baths
2,564 SqFt
Status Active
MLS # 6761137
Property Type Single Family Residence
Price Type --
Motivated Seller, relocating out of state! This stunning home, located on the prestigious Pete Dye-designed golf course at Red Mountain Ranch, offers breathtaking views of the golf course, Red Mountain, and sparkling city lights. Inside, you'll find renovations completed over the past five years. The gourmet kitchen has gorgeous granite countertops, stainless steel appliances, and stylish new cabinetry, perfect for any chef. The inviting living area features a beautifully upgraded fireplace with elegant brickwork and a mantel, creating a cozy atmosphere for family gatherings. The primary bath has been transformed into a luxurious, spa-like oasis with a walk-in shower, marble countertops, and sleek new cabinetry. Additional improvements include newer dual-pane low-E windows and doors, pro viding year-round energy efficiency and comfort. Step outside to the sun-drenched pool area, complete with newer installed cool decking, ideal for lounging and entertaining. The exterior of the home has been painted within the last 5 yrs as well as the roof underlayment was replaced for long-lasting protection. Additional updates include a newer water heater, reverse osmosis system, pool pump, cleaner, and an efficient sprinkler system for easy yard care. This home offers more than just a place to live it's a lifestyle, perfect for golf enthusiasts in a tranquil setting. Don't miss the opportunity to make this dream home your own!

931 E Whiteley Street Apache Junction, AZ 85119

$659,000
2 Beds
2 Baths
1,455 SqFt
Status Active Under Contract
MLS # 6742679
Property Type Single Family Residence
Price Type --
21/2 ACRES OF NATURAL DESERT LAND WITH BEAUTIFUL HOUSE AND BRAND NEW 1800 SQ FT WORK SHOP WITH 5 TON A/C WITH ROOM FOR YOUR RV AND BOAT OR ANTIQUE CARS. OR ALL THE TOYS. HOUSE GOT A NEW A/C IN 2024 ALSO. CHERRY WOOD CABINETS, 6 PANEL SOLID WOOD DOORS ALL 36'' TO ACCOMODATE A WHEEL CHAIR IF NEEDED.. GRANITE COUNTER TOPS AND STAINLESS STEEL APPLIANCES MAKE FOR BEAUTIFUL KITCHEN. SPLIT FLOOR PLAN. VERY ENERGY EFFICIANT HOME WITH BLOCKS WITH FOAM INSULATION, DUAL PANE WINDOWS. VERY NEAT AND CLEAN MOVE IN READY HOME.

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