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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13615 W Merrell Street Avondale, AZ 85392

$650,000
5 Beds
3 Baths
3,728 SqFt
Status Active
MLS # 6756481
Property Type Single Family Residence
Price Type --
Stunning 5 Bed, 3 Bath BASEMENT home in Fulton Estates with a $10,000 seller concession for buyer expenses. Beautiful ranch-style home with low-maintenance landscaping, a 3-car garage, and RV gate. Inside, a welcoming foyer leads to a bright, spacious living/dining area, warm tones, neutral tile in high-traffic zones, and plush carpet in others. The family room connects to the kitchen and opens to the backyard for seamless entertaining. The eat-in kitchen includes staggered cabinets with crown molding, SS appliances, solid surface counters, an island, and a walk-in pantry. Primary bedroom has outdoor access, a full ensuite with dual sinks, a makeup vanity, and a walk-in closet. Basement is approx. 1,100 sq ft with 2 beds, 1 bath, and a large recreation room. 2 new A/C units with warranty! In the basement, you'll find a large bonus room ideal for a game/entertainment center, a cinema, or a home gym. In addition, there are 2 beds & 1 bath downstairs, which is perfect for overnight guests. Enjoy relaxing in the backyard on the covered patio while sipping your favorite beverage. Desirable location, close to restaurants, markets, major roads, and easy access to the I-10. Hurry to see!

10523 E Simone Avenue Mesa, AZ 85212

$650,000
4 Beds
2.5 Baths
2,930 SqFt
Status Active
MLS # 6772714
Property Type Single Family Residence
Price Type --
*** EASTMARK BEAUTY!!!***...Don't miss this Stunning MOVE-IN READY...4 bed/2/5 bath home LOADED w/ UPGRADES!! Incredible OPEN FLOOR PLAN includes GORGEOUS KITCHEN w/ GRANITE COUNTER TOPS. CUSTOM CABINETS, STAINLESS STEEL APPLIANCES...including GAS RANGE, huge CENTER ISLAND & so much more! Ideal for a growing family, this home features plenty of room for everyone...INCLUDING AN UPSTAIRS LOFT perfect for a game room, entertainment center or den. Step outside through EXTENDED SLIDING GLASS DOORS to a LARGE back yard w/ PERGOLA COVERED AREA ideal for entertaing & family gatherings! Finishing touches include ENERGY-SAVING SOLAR PANELS, 3-car garage & cozy FRONT PORCH AREA. AWARD-WINNING EASTMARK AMENITIES & SCHOOLS along with restaurants, shopping & easy freeway access just MINUTES AWAY!!

3630 N 372nd Lane Tonopah, AZ 85354

$650,000
4 Beds
2.5 Baths
2,472 SqFt
Status Active
MLS # 6759877
Property Type Single Family Residence
Price Type --
This is a rare opportunity to own a stunning 4-bedroom home on a fully fenced nearly 2-acre lot with breathtaking mountain views. The home exudes pride of ownership, featuring meticulously maintained desert rock landscaping, an extended driveway, fresh interior and exterior paint, abundant natural light, and elegant archways. The gourmet eat-in kitchen boasts SS appliances, granite countertops, tile flooring, recessed lighting, ample wood cabinetry, & a center island breakfast bar. Enjoy seamless indoor-outdoor living in the Arizona sunroom, complete with retractable windows and its own AC for year-round comfort. Take advantage of energy savings with paid-off solar panels & new AC unit. Check out the expansive backyard, offering a Pickle Ball court for sports enthusiasts! Also including 3 stalls along with a tack room and horse wash rack. PLUS! The other lot, with a huge RV garage & a corral, presents a remarkable chance for expansion, investment, or customization. Bring your toys, RVs, horses, & other animals - this property has plenty of space! Don't miss this excellent opportunity!

2736 E Sourwood Drive Gilbert, AZ 85298

$650,000
4 Beds
2 Baths
2,138 SqFt
Status Active
MLS # 6760086
Property Type Single Family Residence
Price Type --
Nestled in the heart of Gilbert, in the coveted Freeman Farms community, this stunning single-story gem is where elegance meets everyday comfort. Boasting 4 spacious bedrooms, and two luxurious baths, this home is designed with an open floor plan that seamlessly blends living, dining, and kitchen spaces—perfect for both quiet evenings and lively gatherings. The 3-car garage offers ample room for all your vehicles and toys. The Primary suite provides direct access to the backyard, where the art of entertaining comes alive, with built-in BBQ and large covered patio. This is more than just a house; it's the lifestyle you've been dreaming of, in one of Gilbert's most sought-after neighborhoods... WELCOME HOME!

356 Ancora Drive Litchfield Park, AZ 85340

$650,000
4 Beds
2 Baths
1,894 SqFt
Status Active
MLS # 6761307
Property Type Single Family Residence
Price Type --
Beautifully remodeled home with Heated Pool located in the heart of Litchfield Park. Not only is Litchfield Park pretty central to most of the West Valley such as West Gate and the Cardinals Stadium but here you are right down the street from award winning golf, restaurants, shopping and more. Inside the home you will notice a completely updated kitchen with Quartz countertops, new cabinets, stainless steel appliances, and gas stove. The home also features 3 spacious secondary bedrooms and a large Master Bedroom complete with a beautiful en suite with dual sinks and walk in shower. Both bathrooms have also been updated. Clean Modern style throughout the home.

18238 N 43rd Drive Glendale, AZ 85308

$650,000
5 Beds
3 Baths
2,813 SqFt
Status Active
MLS # 6761922
Property Type Single Family Residence
Price Type --
Multi-Generational home on one of Bellair's 10 Largest Lots! Of over 1100 homes in Bellair, there are only 10 lots this size. Four bedrooms in main house, including main bedroom with en suite bathroom, private exit and TWO closets. Next-Gen suite offers private bathroom with walk-in shower, wider door frames, no steps, Living Room, Kitchenette, Laundry hook-up, Bedroom and private exit. Huge 14,111 square foot lot offers sparkling play pool, two separate grassy yards, mature landscaping, citrus tree, patio that extends length of home. Entertain in either the Great Room with updated kitchen or Formal Living Room adjacent to Dining Room. Vaulted ceilings and custom flooring are enhanced by stainless steel appliances, custom paint and beautiful granite countertops. Unique Find!

7467 E Pleasant Run -- Scottsdale, AZ 85258

$650,000
2 Beds
2 Baths
1,590 SqFt
Status Active
MLS # 6766453
Property Type Single Family Residence
Price Type --
Welcome to your beautifully upgraded 2 bedroom master suite in the highly sought after community off Pleasant Run.The kitchen features new cabinets, granite counter tops, stainless steel appliances with ample pantry space. The expansive greenroom boasts vaulted ceilings and a cozy fireplace. Relax on your private patio wile overlooking lush gardens.

555 N Ocotillo Drive Wickenburg, AZ 85390

$650,000
3 Beds
2 Baths
1,879 SqFt
Status Active
MLS # 6764922
Property Type Single Family Residence
Price Type --
Nestled on 1.4 acres of scenic horse property in the heart of Wickenburg, this beautifully updated 3-bedroom, 2-bathroom home offers a perfect blend of modern comfort and rural tranquility. With breathtaking panoramic views surrounding the property, you'll experience peace and privacy while still being close to town. Inside you'll discover a thoughtfully remodeled interior, where the kitchen shines with its 2024 upgrades, featuring sleek countertops, updated cabinetry, and new appliances, making it a dream space for cooking and entertaining. Fresh, stylish flooring flows throughout, providing a clean, contemporary feel, while the newly updated AC system ensures comfort year-round. Outside, you'll find a comfortable oasis perfect for relaxation and entertaining. The heated pool... offers the ideal spot to cool off during warm Arizona days, while the included above-ground spa promises relaxation under the stars. Additionally, the property boasts an oversized, over-height garage/shop, perfect for projects, storage, or accommodating larger vehiclesan excellent bonus for any hobbyist! Designed with both comfort and practicality in mind, this Wickenburg retreat offers the perfect space to enjoy rural living with modern conveniences, making it a must-see for those seeking a peaceful escape in Wickenburg!

4514 N Kirkwood Avenue Prescott Valley, AZ 86314

$650,000
4 Beds
2.5 Baths
2,560 SqFt
Status Active
MLS # 6767302
Property Type Single Family Residence
Price Type --
Welcome to this stunning Prescott Valley home featuring a desirable floor plan with a spacious Great Room, versatile Den/Dining Room, and 4 bedrooms, including a luxurious Master Suite. BRAND NEW ROOF in 2023 with a transferable warranty. The Master Suite offers private access to the rear patio, a relaxing garden tub, dual vanities, and an expansive walk-in shower. With 2.5 baths, three additional spacious guest rooms, and a fantastic location, this home has everything you need for comfort and convenience. Ideal for entertaining and everyday living, this is the perfect blend of style and functionality. Don't miss out!

22335 N Celtic Avenue Maricopa, AZ 85139

$650,000
5 Beds
3 Baths
3,721 SqFt
Status Active
MLS # 6768522
Property Type Single Family Residence
Price Type --
Welcome to this impressive home in the highly sought-after Cobblestone Farms community of Maricopa! This property offers everything you need for luxury living and entertaining. As you step inside, you'll find an open and inviting floor plan, perfect for both daily living and entertaining. The main level features a full bedroom and bathroom— great for visitors or multi-generational living. Upstairs, the master suite is a true retreat, complete with a private balcony overlooking your backyard paradise. The backyard is an entertainer's dream with a sparkling pool, swim-up bar, fire pit, and outdoor kitchen—ideal for Arizona living! Cobblestone Farms provides parks, a community pool, splash pad, and convenient access in and out of the city for commuters.

1433 E Tulsa Street Gilbert, AZ 85295

$650,000
3 Beds
2 Baths
2,136 SqFt
Status Active
MLS # 6770807
Property Type Single Family Residence
Price Type --
Welcome to your dream home! This stunning property offers modern convenience and comfort in an excellent neighborhood and top-rated school district. Step into the open living space with soaring high ceilings and beautiful waterproof luxury vinyl plank flooring. The chef's kitchen is a masterpiece, featuring quartz countertops, brand-new stainless steel appliances, an Italian-made sink, soft-close cabinets, and a new refrigerator and dishwasher. The spacious bonus room is perfect for an office or den. Enjoy the low-maintenance front and back yard, complete with a large paver patio and double-door RV gate.

14829 W Pershing Street Surprise, AZ 85379

$650,000
5 Beds
4.5 Baths
3,505 SqFt
Status Active
MLS # 6772071
Property Type Single Family Residence
Price Type --
This Gorgeous Home has a Casita with it's own exterior access and a Full Bathroom. The main House has a Huge Master Bedroom upstairs along with 3 additional Bedrooms. The formal living room/den/playroom is right off the entry, there's a formal dining room, Huge Kitchen with an attached Family Room! The Fabulous Kitchen has upgraded cabinets, a HUGE Island, Gas 5 burner cooktop and separate oven, microwave. There's a large walk-in pantry and a butler's pantry with sink and space for a wine/beverage refrigerator. The 3 car tandem garage has plenty of cabinets for storage and it's own A/C system, just in case you want to use the 3rd car portion as a workout area. Backyard has a covered patio, paver firepit area and a pergola paver patio. There is a solar system to.. help with the electric bill. These homes are so well insulated - I have the same floor plan and with smart thermostats and energy management (we keep the house at 70 degrees except for 4pm-7pm) our August bill was $380 and we don't have solar. HOA amenities include 3 pools, a splash pad, recreation center, firepit and 2 fireplaces, 20+ parks (each with it's own theme) and beautiful tree lined streets. Veranda Park with a half Basketball Court and Playground is just 1 block South!

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