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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11822 Monarch Drive Bellemont, AZ 86015

$650,000 - 3Br/2Ba -  for Sale in Flagstaff Meadows, Bellemont
Open House
$650,000
3 Beds
2 Baths
1,782 SqFt
Status Active
MLS # 6780329
Property Type Single Family Residence
Price Type --
Stunning & rare single-level home situated on a highly coveted lot backing to FOREST SERVICE LAND w/breathtaking MOUNTAIN VIEWS. Meticulously maintained residence boasts a spacious floor plan w/high ceilings, archways & numerous upgrades throughout like A/C, recirculating pump & wired for heat tape. The upgraded kitchen features granite countertops, recessed lighting, ceramic tile flooring, stainless steel appliances & spectacular views from every window. Primary suite is a serene retreat with vaulted ceilings, an en-suite bath, soaking tub, separate shower, and dual sinks. Unwind on the covered patio, perfect for stargazing or enjoying the sunset over the mountains. Community offers a scenic park with a fountain, pathways, and playground for outdoor enjoyment. Exterior painted 2024.

3401 E Rosemonte Drive Phoenix, AZ 85050

$650,000 - 4Br/3Ba -  for Sale in Vistas At North Gate, Phoenix
Open House
New
$650,000
4 Beds
2.5 Baths
2,312 SqFt
Status Active
MLS # 6784060
Property Type Single Family Residence
Price Type --
PRICED BELOW MARKET VALUE! Discover this beautifully updated 4-bedroom, 2.5-bath home, ideally located near PVCC, Desert Ridge Marketplace, and is minutes away from freeways! This residence combines stylish design and modern comforts, perfect for those looking to enjoy Arizona living at its finest. The stunningly updated kitchen features new cabinets, designer tile, and overlooks the family room with wood-burning fireplace. Attached to the kitchen is a large dinning room which flows seamlessly into the front living room. The expansive primary bedroom includes a recently renovated ensuite bathroom with chic finishes for a touch of luxury. Outdoors, your private oasis awaits: a sparkling pool with a large pavered deck is perfect for entertaining or or relaxing. Brand new dual-pane windows throughout keep the home energy-efficient and quiet, while the large dining room and attached family room make this a fantastic space for gatherings. This home truly has it alldon't miss out on this unique opportunity!

725 E Washington Avenue Gilbert, AZ 85234

$650,000 - 4Br/2Ba -  for Sale in Park Grove Estates Amd, Gilbert
Open House
$650,000
4 Beds
2 Baths
1,969 SqFt
Status Active
MLS # 6777247
Property Type Single Family Residence
Price Type --
Nestled on a spacious lot surrounded by mature trees, this stunning 1,969-square-foot, 4-bedroom, 2-bath home offers privacy and tranquility. Step inside to discover brand new luxury vinyl flooring in the main living areas and new carpet in the bedrooms, creating a modern, inviting atmosphere. The main living room features a cozy electric fireplace, perfect for relaxing evenings. Both bathrooms have been tastefully updated, with the primary bathroom showcasing a separate jetted tub, a walk-in shower with multiple shower heads, dual vanities, and a spacious walk-in closet. The primary bedroom also offers a separate exit to the backyard and a new sliding door that leads directly to the sparkling diving pool—ideal for cooling off during Arizona summers. The gourmet kitchen is a true showpiece, featuring elegant granite countertops, a natural stone backsplash, high-end cabinetry, a sleek hood, and built-in oven and microwave. Designed for both functionality and luxury, it also includes a large pantry, providing ample storage for all your culinary essentials. Whether you're preparing everyday meals or entertaining guests, this kitchen is equipped to meet the highest standards of modern living. This home also includes a usable RV gate with a slab already poured, perfect for storing your trailer, fishing boat, or other toys. Located close to downtown Gilbert, you'll enjoy the convenience of popular restaurants like Postino, Joyride Taco House, and Liberty Market. With easy access to the US 60 freeway, commuting and travel are a breeze. This home blends style, convenience, and a serene setting. It's a must-see!

4098 E Rakestraw Lane Gilbert, AZ 85298

$650,000 - 2Br/2Ba -  for Sale in Trilogy Unit 6, Gilbert
Open House
New
$650,000
2 Beds
2 Baths
2,156 SqFt
Status Active
MLS # 6784215
Property Type Single Family Residence
Price Type --
Move-in ready ''Sundance'' model home with open floor plan, located on a corner, N/S facing lot in the 55 plus community of Trilogy at Power Ranch. The home features 2 bedrooms and den, great room, and large kitchen with a huge morning room overlooking the courtyard with French doors and retractable screens. As you enter the home you will notice tile flooring throughout, with new carpet in the bedrooms and den. The home has shutters throughout, just recently painted interior, and exterior last year. The master bedroom has an exit door to the patio and backyard. You will enjoy the large bathroom with double sinks, garden tub, and separate walk-in shower, and walk-in closet. The backyard has artificial turf, paver extended patio, fenced yard, and fruit trees, lemon, lime, orange and tangelo. The 2 1/2 car garage has built-in cabinets, storage and epoxy flooring with no step in the garage. Come enjoy all this home has to offer plus all the amenities available such as golf, tennis, Bocce, pickle ball, pools, workout facility, clubs and so much more.

5760 W Harrison Street Chandler, AZ 85226

$650,000 - 2Br/3Ba -  for Sale in Mays Pond, Chandler
Open House
$650,000
2 Beds
2.5 Baths
2,318 SqFt
Status Active
MLS # 6782219
Property Type Single Family Residence
Price Type --
Welcome to Mays Pond, where this fantastic two-story home awaits you! Nestled on a corner lot, it displays veneer accent details, 3-car garage, & a lovely mature landscape. Fabulous interior boasts tons of natural light, designer paint, vaulted ceilings, stylish light fixtures, and tasteful flooring - wood & soft carpet. Enjoy the formal living/dining room and a separate family room with a fireplace, media niche, & French doors to the back! The impressive kitchen has SS appliances, granite counters, mosaic tile backsplash, ample cabinets, a breakfast bar, and a bay window. Seperate den downstairs with built-ins. Large main bedroom upstairs, offering an ensuite with dual sinks, soaking tub, & a sizable walk-in closet. Outback, you have fruit trees & a paver-covered patio to relax. Just WOW This was a builders home! 3rd bedroom was converted into an amazing walk in closet.

3795 E Latham Court Gilbert, AZ 85297

$650,000 - 4Br/3Ba -  for Sale in Coronado Ranch Parcel 5, Gilbert
Open House
New
$650,000
4 Beds
3 Baths
2,934 SqFt
Status Active
MLS # 6783589
Property Type Single Family Residence
Price Type --
This Gilbert 4 / 5 bedroom and 3 bathroom home with a loft, 3 car garage, and RV gate, is truly unique to Coronado Ranch. With custom rounded doors and attention added to the architecture, you will not want to miss making this your home. There is one bedroom and full bath downstairs as well as a front room and dining room. Upstairs you will find a large loft and 3 bedrooms, with a den built off the oversized master bedroom. The den can be enclosed to make this home a 5 bedroom home plus a loft and the added space downstairs. With an open kitchen and oversized wide lot that backs to a green belt, you have plenty of physical and visual space. Great community and location in Gilbert with fantastic amenities including a splash pad, parks, and more! amenities!

3702 E Laurel Lane Phoenix, AZ 85028

$650,000 - 3Br/2Ba -  for Sale in Star Of Paradise 2, Phoenix
Open House
$650,000
3 Beds
2 Baths
1,680 SqFt
Status Active
MLS # 6738884
Property Type Single Family Residence
Price Type --
Fabulous home in a fabulous location! This stylish mid-century modern home offers lots to enjoy inside, outside, and in the area. The backyard is perfect for the summer days and nights with a sparkling pool, new no-maintenance grass, BBQ, and picnic area. Inside you will enjoy tile flooring and new carpet, a new kitchen with quartz counter tops, new cabinetry, back splash and extra cabinet space by dining. Bathrooms have been remodeled with the mid-century style. Great storage and space in the laundry room. Minutes away from hiking, golf, shopping and dining and the new PV mall re-development. Kierland/Scottsdale Quarter and the Biltmore are just short drives away. Easy access to the 51 and 101 freeways to bring you all over the Valley easily.

7668 E Pleasant Run -- Scottsdale, AZ 85258

$650,000 - 2Br/2Ba -  for Sale in Pleasant Run Unit 2 Amd, Scottsdale
Open House
$650,000
2 Beds
2 Baths
1,590 SqFt
Status Active
MLS # 6758723
Property Type Townhouse
Price Type --
McCormick Ranch: Scottsdale's Premier Location! Located in the highly sought-after Pleasant Run subdivision, this turn-key home is ready for you—just bring your suitcase and laptop! Homes rarely come on the market in this area, and this one offers a spacious, open floor plan with NO INTERIOR STEPS. It features 2 bedrooms, 2 baths, a cozy fireplace in the living room, and a 2-car garage. The quiet, low-maintenance patio offers privacy with high walls, accessible from both the living room and the primary bedroom. The home is filled with natural light thanks to skylights throughout. All furniture is available with the home, making moving in a breeze! Enjoy the community amenities, including a pool, spa, tennis, and pickleball courts. The location is unbeatable: The garage has fresh epoxy floors. The Jacuzzi tub is sold AS IS. 20+ restaurants within walking distance Close to shopping, Diamondbacks spring training, resorts, casino, and nightlife 5 minutes from Loop 101 10 minutes to The Block, The Pavilions, Gainey Ranch, and The Entertainment District Bike to Tempe Town Lake or along the Discovery Trail (25 miles of scenic paths) Stroll around the beautiful lakes or golf at McCormick Ranch Golf Course. The possibilities are endless in this fantastic location!

316xx N 171st Avenue Surprise, AZ 85387

$649,999
3 Beds
2 Baths
1,708 SqFt
Status Active
MLS # 6780196
Property Type Single Family Residence
Price Type --
WOW!! Coming soon is a 1708 sf 3 BR 2 BA with 2 car garage and a RV garage on 1 acre property. No HOA, Pavement access is under 1000 feet attached to maintained dirt road with recycled asphalt. Builder plans to break ground January 2025, completion May 2025. 3 homes to choose from. Enjoy the included front yard landscaping as you walk up to your new home. This desert contemporary homes entry has a large, covered patio perfect for watching those fall and spring sunsets on your porch swing. When entering the home, you will be greeted by a huge great room with vaulted ceilings that showcase the open concept living area to the kitchen and dining room. Spacious covered rear patio, great for relaxing or entertaining. Nice sized bedrooms for kids or office space. Cozy laundry room with utility closet. Carefully selected materials have been chosen to match the exterior theme of the homes and flow with the interior design. Boasting wood plank style tile flooring, marble tiled showers, soft close shaker cabinetry, quartz countertops, satin nickel plumbing and lighting fixtures. Included GE appliances. Washer and dryer will be included with a full price offer. The building features include fully sheared plywood exterior, spray foam insulation, cathedralized attic insulation, Low E vinyl windows, Lenox 5 Ton 14 seer HVAC unit. Qualify for your own new construction loan and take $20,000 off the price or get $20,000 in upgrades. This home won't last long once built and completed. Get in now and pick your finishes.

316xx N 171st Avenue Surprise, AZ 85387

$649,999
3 Beds
2 Baths
1,708 SqFt
Status Active
MLS # 6780213
Property Type Single Family Residence
Price Type --
WOW!! Coming soon is a 1708 sf 3 BR 2 BA with 2 car garage and a RV garage on 1 acre property. No HOA, Pavement access is under 1000 feet attached to maintained dirt road with recycled asphalt. Builder plans to break ground January 2025, completion May 2025. 3 homes to choose from. Enjoy the included front yard landscaping as you walk up to your new home. This desert contemporary homes entry has a large, covered patio perfect for watching those fall and spring sunsets on your porch swing. When entering the home, you will be greeted by a huge great room with vaulted ceilings that showcase the open concept living area to the kitchen and dining room. Spacious covered rear patio, great for relaxing or entertaining. Nice sized bedrooms for kids or office space. Cozy laundry room with utility closet. Carefully selected materials have been chosen to match the exterior theme of the homes and flow with the interior design. Boasting wood plank style tile flooring, marble tiled showers, soft close shaker cabinetry, quartz countertops, satin nickel plumbing and lighting fixtures. Included GE appliances. Washer and dryer will be included with a full price offer. The building features include fully sheared plywood exterior, spray foam insulation, cathedralized attic insulation, Low E vinyl windows, Lenox 5 Ton 14 seer HVAC unit. Qualify for your own new construction loan and take $20,000 off the price or get $20,000 in upgrades. This home won't last long once built and completed. Get in now and pick your finishes.

316xx N 171st Avenue Surprise, AZ 85387

$649,999
3 Beds
2 Baths
1,708 SqFt
Status Active
MLS # 6778344
Property Type Single Family Residence
Price Type --
WOW!! Don't miss this opportunity!! Being contructed soon is a 1700sqft, 3 Bed, 2 bath home with 2 car garage and an RV garage on 1 acre. No HOA! Pavement access is under 1000 feet attached to maintained dirt road with recycled asphalt. Builder plans to break ground January 2025, completion May 2025. 3 homes to choose from! Enjoy the included front yard landscaping as you walk up to your new home. This desert contemporary home's entry has a large, covered patio perfect for watching those beautiful Arizona sunsets on your porch swing. Upon entry, you will be greeted by a huge great room with vaulted ceilings which showcases open concept living to the kitchen and dining room. A spacious covered rear patio is great for relaxing or entertaining. Nice sized bedrooms for kids or office space. Practical laundry room with utility closet. Carefully selected materials have been chosen to match the exterior theme of the homes and flow with the interior design. Boasting tile wood plank flooring, marble tiled showers, soft close shaker cabinetry, quartz countertops, satin nickel plumbing and lighting fixtures. Included GE appliances. Washer and dryer will be included with a full price offer. The building features include fully sheared plywood exterior, spray foam insulation, cathedralized attic insulation, Low E vinyl windows, Lenox 5 Ton 14 seer HVAC unit. Qualify for your own new construction loan and take $20,000 off the price or get $20,000 in upgrades. This home won't last long once built and completed. Get in now and pick your finishes!

48336 N 27 Avenue New River, AZ 85087

$649,999
4 Beds
2.5 Baths
2,126 SqFt
Status Active
MLS # 6751295
Property Type Single Family Residence
Price Type --
Beautiful 3 BD. plus Den, 2.5 BR. home with 2 car garage. Large open kitchen/great room with 10 foot ceiling. Premium cabinets, granite counter tops, huge kitchen island, stainless steel appliances, pantry, large master suite with a walk-in shower, dual vanities, access to the laundry room. Additional upgrades include, tile plank flooring, 8 foot doors, upgraded hardware/lighting, large laundry room, energy efficient 14 Seer HVAC, dual pane low-E windows and R-38 cathedral attic insulation. Upgrades made by the current owner: fence and side gates around backyard, landscape rock in front of the back yard, installing pavers, turf, security gate, epoxy in garage, solar panels, back splash in kitchen, cabinets and tool storage in the garage, storage shelves in laundry. No HOA.

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