Epic Housing Shortage Being Reported

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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5041 E Peak View Road Cave Creek, AZ 85331

$650,000

4 Beds

2.5 Baths

2,455 SqFt

Status Active

MLS # 6773541

Property Type Single Family Residence

Price Type --

This spacious 4 bedroom home with a large loft/bonus room is located in the wonderful Tatum Ranch community. The home has been recently upgraded with luxury vinyl floors and new baseboards on the main level and new carpet on the upper level. Interior was recently painted. The large kitchen has cherry cabinets, slab granite counters and stainless appliances including a new dishwasher. A large covered patio with paver floor leads to the gorgous fenced pool with newly resurfaced kool deck, new tiles, water filler and new pool motor. New epoxy floor in garage. Roof replaced in 2020. This is a truly move in ready home in a fabulous location near award winning schools, outstanding shopping & dining venues and great golf courses.

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20369 N Painted Sky Drive Surprise, AZ 85374

$650,000

2 Beds

2.5 Baths

2,732 SqFt

Status Active

MLS # 6770410

Property Type Single Family Residence

Price Type --

TASTEFULLY UPDATED AND BEAUTIFULLY MAINTAINED IRONWOOD MODEL. UPGRADES AND FEATURES: Remodeled Luxury Kitchen boasts Natural Hickory Cabinets w/Pull-out Shelving & Soft-closing Drawers, S/S Appliances, Granite Counters, Walk-in Pantry, Large Islands and Butler's Pantry*New Roof (2020)*New Exterior Paint (2024)*Newer HVAC (2018)*Newer Hot Water Heater (2020)* Neutral 20'' Tile throughout w/ Neutral Carpet in Bdrms & Den*Large Master Bath is updated w/Hickory Cabinetry, Granite Counters, New Sinks & Toilet*Large Master Bdrm w/Sitting Area*Rear Outdoor Living Space has been extended w/Pavers and Pergola**Whole House Filtration System*Newer PVC Irrigation & Control Box*Huge Laundry Rm w/wall-to-wall Cabinets, Large Granite Counter & Sink*Coffered Ceiling in Dining Room and MUCH, MUCH MORE!

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1780 S Yellow Brick Road Chino Valley, AZ 86323

$650,000

3 Beds

3 Baths

2,569 SqFt

Status Active

MLS # 6773298

Property Type Single Family Residence

Price Type --

Fantastic custom built home on 2.61 acres with panoramic mountain views! This 3 bedroom, 3 bathroom also has a den/office area and wonderful back courtyard offering outdoor entertaining space including built-in BBQ and huge views of Granite Mountain. Living room has fireplace and is adjacent to the open kitchen offering granite counter tops, pantry, tile floors, newer appliances and access to back courtyard. The large owners suite offers dual walk in closets, separate his/her vanities, large travertine shower & separate garden tub & private toilet room w/sink. The oversized owners bedroom and access to back courtyard. Spacious 2nd & 3rd bedrooms. 2.61 acres offers plenty of space for barns, arenas, extra garages, workshops, etc. The attached extra deep garage has epoxy floor finish.

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9443 E Riviera Drive Scottsdale, AZ 85260

$650,000

3 Beds

2 Baths

1,484 SqFt

Status Active

MLS # 6773744

Property Type Single Family Residence

Price Type --

This beautifully remodeled end unit patio home features a large private yard perfect for someone looking for low maintenance yet plenty of space and privacy. Updated porcelain and wood plank tile throughout! The well-equipped kitchen boasts stainless steel appliances, ample cabinet storage, double ovens and an induction range, perfect for culinary enthusiasts. The office, complete with built-in bookshelves and a beverage fridge, can easily be converted back into a third bedroom. The primary opens to the backyard, and has dual vanities and two spacious closets with built-in drawers and shelves. Set in a desirable neighborhood, this home backs up to the greenbelt and community pool, one of the best lots in the community. Don't forget about the new AC unit and water softener too!

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2665 E Gillcrest Road Gilbert, AZ 85298

$650,000

3 Beds

2.5 Baths

2,658 SqFt

Status Active

MLS # 6774316

Property Type Single Family Residence

Price Type --

Beautiful 3 bedroom + downstairs office, 2.5 bath home in a great lake community with pool, gym, basketball courts, clubhouse, parks and children's play areas. This home features beautiful granite counters and sleek stainless-steel appliances. The primary bathroom offers a luxurious separate tub and shower and a double sink vanity, and a spacious walk-in closet to fulfill all your storage needs. Freshly painted walls and professionally cleaned carpets. The convenience of this location is unmatched with an elementary school conveniently located within the subdivision, and community amenities.

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8640 W Monaco Boulevard Arizona City, AZ 85123

$650,000

3 Beds

4 Baths

3,536 SqFt

Status Active

MLS # 6773844

Property Type Single Family Residence

Price Type --

Beautiful Custom home w/Casita on the golf course! Enter thru Custom metal door w/Wrought Iron detail into beautiful, tiled courtyard w/gas fireplace. From the private courtyard you have access to a Bonus Room w/mini split, entry to private Casita/Guest House & entrance to main home. Another Custom Door welcomes you into the main living area w/soaring ceilings & gorgeous views of the backyard pool & golf course! Entertainers Dream w/Formal Dining, Great Room w/fireplace, Kitchen, w/gas cooktop, French Door Refrigerator, Butler's Pantry, Wine Rack, & a large Granite Island. Primary suite w/step up Garden Tub, Walk thru Shower, Separate Dual Vanities, & huge walk-in closet. Backyard Oasis w/Covered Patio, Pool, Spa, Outdoor Bath, RV Gate, RV Parking & Hookups. So many features - a must-see!

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21950 N 100th Avenue Peoria, AZ 85383

$650,000

4 Beds

2 Baths

1,940 SqFt

Status Active

MLS # 6781931

Property Type Single Family Residence

Price Type --

I humbly introduce you to the property that checks all of your boxes. Freshly painted, four bedroom, split floorplan that has not one beautiful kitchen, but two! This property takes indoor-outdoor living to a whole new level. Oversized collapsible slider, custom granite and stone outdoor kitchen, table, private pool, pre-wired surround sound system, and no neighbors behind, puts this home in a league of it's own. This move-in ready property is only missing one thing . . . YOU!

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12698 E Pivot Peak -- Gold Canyon, AZ 85118

$650,000

4 Beds

3 Baths

1,961 SqFt

Status Active

MLS # 6776706

Property Type Single Family Residence

Price Type --

Welcome to this beautiful 4-bedroom, 3-bathroom home, built in 2022, nestled in the serene community of Peralta Canyon, located in Gold Canyon AZ. featuring BREATHTAKING mountain views. This modern gem boasts an open floor plan with a spacious living area perfect for entertaining. The kitchen features high-end appliances and a reverse osmosis (RO) system for clean, fresh water. Step outside to your private oasis, where a heated pool and spa await, perfect for relaxing or enjoying Arizona's sunny weather during any season. The front and backyard are equipped with an efficient irrigation system, ensuring easy maintenance for your outdoor spaces. Don't miss the chance to check out this home!

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29623 N 205th Avenue Wittmann, AZ 85361

$650,000

4 Beds

2 Baths

2,416 SqFt

Status Active

MLS # 6775482

Property Type Single Family Residence

Price Type --

Welcome to this stunning 4 BR, 2BTH home. It has an oversized garage with expansive bays. This property features a beautifully landscaped yard with an automatic irrigation system. The back yard is surrounded by a block wall with no-climb fence around property perimeter with an automatic gate situated on a 1.67 acre cul-de-sac lot. Plenty of room for horses or 4-wheeled toys. Built in 2018 by 1 owner/GC to the highest standards. Meticulously maintained and cared for, this move in ready home has no HOA making it an ideal choice for those seeking privacy and quality of life.

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136 N 11th Avenue Phoenix, AZ 85007

$650,000

5 Beds

4 Baths

1,720 SqFt

Status Active

MLS # 6775519

Property Type Single Family Residence

Price Type --

Versatile property offering a main home and two studio units. Primary home is a charming three bedroom two bath. Two attached studio units located in the back. Main house is month to month lease allowing a perfect owner occupant and investing opportunity. Live in the primary home and allow the two studio units to offset your mortgage by $1,918 per month! Primary unit is currently M2M at $1650. Flexible R-8 Zoning allows for six attached units to be constructed. This block has a great mix of new developments and historic homes. Property is located in the Woodland historic district, a vibrant and evolving area that is walking distance to Historic Grand Avenue, downtown campuses, and all the best dining and nightlife Phoenix offers!

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21632 N 58th Drive Glendale, AZ 85308

$650,000

4 Beds

2 Baths

2,388 SqFt

Status Active

MLS # 6776336

Property Type Single Family Residence

Price Type --

A beautiful, move-in ready home for sale in sought-after neighborhood of Arrowhead Lakes! The soaring 10'+ ceilings in the formal living room welcomes you in once you open the front door. Honey maple cabinetry in the kitchen, and all interior doors were custom-built honey maple doors. Huge primary bedroom with a patio door to the backyard oasis; tiled walk-in shower in primary bathroom with a jetted tub; RV gate, 3-car garage, fresh paints in common area, utility sink in the good size laundry room, and this house is sitting in a huge lot over 11,000 sqft in a cul-de-sac. A+ schools, convenient to shoppings, freeways and more. Come see this gem today!

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40568 N Spotted Lane San Tan Valley, AZ 85140

$650,000

4 Beds

3 Baths

2,475 SqFt

Status Active

MLS # 6777852

Property Type Single Family Residence

Price Type --

Entertainers & Car Lovers take notice! Want to know why this home can be better than a new build? Move in ready is one reason, but having the window treatments and landscape completed are the major cost savers here. Plus this location is fantastic. Tucked away in a quaint neighborhood, but with all the new grocery stores and restaurants nearby. Beautiful, upgraded home with wood plank tile throughout. Amazing kitchen with a gas cooktop. Large kitchen island for entertaining, open to DR and family room. The home has solar & energy efficient thermostats. The 5 car garage shows off with an epoxy floor, built-in cabinets, and room for cars & toys. HOA approved RV parking with the RV Gate, Pad, and Hook Up.

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