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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12854 S 189th Avenue Buckeye, AZ 85326

$649,999
4 Beds
3 Baths
2,250 SqFt
Status Active
MLS # 6761627
Property Type Single Family Residence
Price Type --
MOUNTAIN VIEWS! This 2024-built home with a HUGE 3-car garage nestled on a SPACIOUS 1.26 acres is the one for you! Enter through the custom double doors to discover a roomy open floor plan that promotes a modern feel. Wood-look tile flooring, neutral palette, and stylish light fixtures are worth mentioning. Spotless kitchen is equipped with abundant white cabinetry, stainless steel appliances, a walk-in pantry, sleek quartz counters, and a center island with a breakfast bar. In the large main retreat, you will have an ensuite with dual sinks, garden tub, and a walk-in closet. Massive backyard with a covered patio and views that go on and on has enough room for a pool, a shop, or whatever you can imagine! Hurry! Your forever haven is ready to welcome you!

1957 W Fawn Way San Tan Valley, AZ 85144

$649,999
4 Beds
3 Baths
2,252 SqFt
Status Active
MLS # 6763536
Property Type Single Family Residence
Price Type --
Welcome to your dream oasis at 1957 W Fawn Way. This beautifully maintained 4-bedroom, 3-bathroom home offers the perfect blend of comfort and style. As you step inside, you'll be greeted by a spacious open floor plan filled with natural light, ideal for both family gatherings and entertaining friends. The modern kitchen features stainless steel appliances, ample counter space, and a convenient breakfast bar. Retreat to the luxurious primary suite, complete with an en-suite bathroom and walk-in closet, while the additional three bedrooms provide plenty of space for family or guests. Outside, you'll find your very own private swimming pool, perfect for cooling off during hot summer days or hosting weekend barbecues. The beautifully landscaped yard offers a serene atmosphere and ample room for outdoor activities. Located in a friendly neighborhood with easy access to local amenities, parks, and schools, this home seamlessly combines convenience and tranquility. Don't miss your chance to make this slice of paradise your own!

11865 N 143rd Avenue Surprise, AZ 85379

$649,999
5 Beds
3.5 Baths
3,886 SqFt
Status Active
MLS # 6770462
Property Type Single Family Residence
Price Type --
MAGNIFICENT 5 BED/3.5 BATH/4 CAR DRIVE-THROUGH GARAGE LOCATED IN A GATED COMMUNITY: COPPER CANYON RANCH. Furniture can convey. Includes an additional den/office and bonus room. Situated on an oversized lot this home is loaded with custom features. Gently lived in, tastefully decorated, looks and shows like a model home. Custom cherry kitchen cabinets. Granite counter tops,double ovens,butlers pantry. Huge open floor plan with real wood flooring, 20 inch tile and plush thick carpeting. Outdoors is an entertainers featuring a large grass area and beautiful pool with custom water features. Heated negative edge spa with soothing therapy jets. This home is a 10....don't wait !!

6285 E Broadway Avenue Apache Junction, AZ 85119

$649,999
3 Beds
2.5 Baths
2,186 SqFt
Status Active
MLS # 6772527
Property Type Single Family Residence
Price Type --
Want to spend your nights looking at the sunset & city lights and your days gazing at the Superstition Mountains? Well then this is your place! Updated 3 bedroom, 2.5 bath single-level home, sitting on 1.1 acres at the base of the Superstition Mountains. And if you're looking for your own workshop and garage space for your toys --you won't be disappointed! An oversized, 6-car detached garage awaits with mini-split, ducted Torit Industrial Dust Collecting System, Extra LED lighting, 7 X 240 outlets, 2 X 50 amp & RV plugs. TONS of storage! Then, step inside to relax and be delighted by the lovely interior showcasing a great room with soaring vaulted ceilings, a soothing palette, attractive wood-look flooring, & cozy two-way fireplace. The family room has double French doors that lead to the backyard for seamless indoor-outdoor living. Cook delicious meals in the kitchen, equipped with granite counters, knotty alder cabinetry, SS appliances, a walk-in pantry, and a peninsula with a breakfast bar for casual dining. You'll also find a versatile bonus room, perfect for an office or study. Huge covered patio in the back makes for great viewing. Make this yours today!

630 E Laguna Drive Tempe, AZ 85282

$649,999 - 5Br/2Ba -  for Sale in Tempe Royal Palms Unit 5, Tempe
New
$649,999
5 Beds
2 Baths
2,112 SqFt
Status Active
MLS # 6783954
Property Type Single Family Residence
Price Type --
A stunning single-family home located in the heart of Phoenix has 5-bed, 2-bath with 2112 sqft, 2-carport, and covered patio. Brand new windows throughout. You will be greeted by a bright & airy floor plan that is perfect for entertaining. The kitchen comes with stainless steel appliances, quartz countertops & brand-new white & black shaker cabinets. Brand new vinyl wood & carpet flooring throughout the home. Enjoy the fully upgraded, spa like bathrooms with high end shower system, framed mirrors, shower niche, & custom vanities. No HOA. Walking distance to parks and bike paths. Do not miss out!

1628 E Magellan Drive New River, AZ 85087

$649,999
3 Beds
2 Baths
1,978 SqFt
Status Active
MLS # 6683844
Property Type Single Family Residence
Price Type --
Motivated Seller! Will look at all offers. LIKE NEW home. Voted BEST VALUE by Desert Hills New River tour agents! All the updated features. Large kithchen, with center counter. White cabinets and granite countertops. Open great room with lots of windows for the mountain views. 3 bedrooms 2 bath spllit floorplan. The garage is a large oversized 2 car with a space for your tools. Full one acre for your enjoyment. Shared newer well, 2 party. Plus a new rear yard fence to be sure your animals are safe. Central vac. You won't want to miss this well maintained home!

3145 W Sandra Terrace Phoenix, AZ 85053

$649,999
4 Beds
3 Baths
3,601 SqFt
Status Active
MLS # 6736381
Property Type Single Family Residence
Price Type --
Discover the perfect home in a super convenient location! This beautifully maintained residence offers 4 spacious bedrooms, a huge den, and 3 bathrooms. Enjoy 3 expansive living rooms, one with a cozy fireplace, and a grand great room, ideal for family gatherings and entertaining. The heart of the home is the spacious island kitchen, perfect for meal prep and family time. Step outside to a huge backyard, ideal for children, gardening, or hosting get-togethers. Plus, enjoy the convenience of a 3-car garage. With 3,601 sqft of living space, this home provides ample room for everyone. Don't miss the opportunity to make this incredible home yours.

7326 E Portland Street Scottsdale, AZ 85257

$649,999
4 Beds
2 Baths
1,741 SqFt
Status Active
MLS # 6744851
Property Type Single Family Residence
Price Type --
PERFECT Rental! This rare gem in Scottsdale boasts 4 bedrooms plus a den, a 2-car garage, and a refreshing pool. Inside, discover an inviting open-concept layout complemented by sleek concrete floors, exposed metal beams. The kitchen is a culinary paradise, featuring stainless steel countertops, backsplash, and appliances, along with ample white cabinetry. Renovated bathrooms offer modern tile work and fixtures. The spacious master suite grants access to the backyard oasis, complete with a sparkling pool, and covered patio with a bar area. Situated in downtown Scottsdale, it's conveniently close to Fashion Square, dining, entertainment, and major attractions like the botanical gardens and the Phoenix Zoo and spring training stadiums! A rare blend of luxury and convenience.

2771 E State Route 260 Highway Overgaard, AZ 85933

$649,999
4 Beds
2.5 Baths
3,208 SqFt
Status Active
MLS # 6752564
Property Type Single Family Residence
Price Type --
Here's your opportunity to own a piece of nostalgia with the storied Irish Castle. The exterior retains its original castle charm, continuing to captivate passersby with its unique appeal. Inside, you'll find a completely renovated space that masterfully blends modern comforts with the exterior historic character. This landmark offers a distinctive blend of old-world charm & contemporary interior living. This would make an outstanding bed & breakfast or airbnb with 4 bedrooms, 2.5 baths, huge kitchen and separate gathering spaces. All updates have been done within the last 2 years which include items such as mini splits in each room, new roof, new septic, flooring, painting, windows, spray insulation &so much more. List of updates/upgrades attached. Only 219 a square foot!

7315 N 82nd Drive Glendale, AZ 85303

$649,999
5 Beds
3 Baths
2,629 SqFt
Status Active
MLS # 6761667
Property Type Single Family Residence
Price Type --
This spacious home is perfect for your family or as an investment property. Recently updated with a brand-new backyard, new irrigations system, wired ground lighting, beautiful grass lawn, new fencing to separate RV storage, from yard. Home has energy savings roll down security shades. Sparkling pool with a water fall feature, this property offers plenty of space and convenience. The HOA allows RVs, boats, and other toys, making it ideal for those with an adventurous spirit. Plus, the 3-car garage and HUGE RV gate offer over 80 feet of fenced storage for all your vehicles, trailers, and more. No credit qualifying options. See private remarks for more details.

1413 E Windsor Avenue Phoenix, AZ 85006

$649,999 - 3Br/2Ba -  for Sale in Futerer Place, Phoenix
Open House
$649,999
3 Beds
2 Baths
1,734 SqFt
Status Active
MLS # 6778809
Property Type Single Family Residence
Price Type --
Welcome to this appealing renovated Mid-Town, 3bed/2full bathroom, home located steps from Coronado Historic District! Classic bungalow style, beautifully updated in 2022, begins at the front door with an inviting paver walkway and stone facade. The open-concept floor plan welcomes you into the main living area and leads into the spacious kitchen with Quartz countertops, center island, tile backsplash, shaker cabinets, stainless steel appliances and dining area. Laundry room/pantry is located next to kitchen. Light and bright family room, with a white brick fireplace, opens to large covered patio area. The primary bedroom with en-suite bathroom is fully remodeled with dual sinks, oversized walk-in shower, spa-style soaking tub, stunning tile work and walk-in closet! Bedrooms 2 & 3 are similar in size, the second bath features a stylish vanity, tiled shower, and modern lighting. Step outside to enjoy the private yard, covered tile patio, shaded Gazebo area surrounded with artificial turf, and Horseshoe court. Gravel walkways, block fencing and mature shade trees make this low-maintenance yard the perfect spot for relaxing, playtime, and entertaining! Updated ceiling fans, LPV flooring, lighting fixtures, neutral paint, and a separate storage area makes this home move-in ready!

2542 W Kit Carson Trail Anthem, AZ 85086

$649,999 - 5Br/3Ba -  for Sale in Anthem Unit 25, Anthem
Open House
$649,999
5 Beds
2.5 Baths
2,968 SqFt
Status Active
MLS # 6711929
Property Type Single Family Residence
Price Type --
Offering $10,000 in Concessions to Assist Buyers With Rate BuyDown or Closing Costs. Welcome to your Dream Home at this stunning and spacious 2,968 square foot, coveted Victory model that offers an exceptional blend of beauty, functionality, and modern convenience -in the award-winning Master Planned Community of Anthem, with its 63-acre park, various sports fields and courts, fitness center, skate park and more - all included with your HOA! Perfectly positioned on a north/south facing lot, this home is designed to maximize natural light while minimizing heat exposure. Upon entering this gorgeous home, you'll be greeted by an expansive living space large enough for all to enjoy! The heart of the home, the kitchen, has been completely updated to meet the needs of the most discerning chef. It features sleek Corian countertops, custom cabinets, a large center island with seating, and stainless steel appliances. The pantry provides plenty of storage space, while the adjacent breakfast area offers the perfect spot for making memories around the table. This home boasts five spacious bedrooms, with the primary suite and a den conveniently located on the main floor. The primary bedroom is a true retreat, featuring a large walk-in closet, and an en-suite bathroom with dual sinks, a soaking tub, and a separate walk-in shower. The den, tucked away on the main floor, can easily be converted into a sixth bedroom, perfect for guests or multi-generational living. Upstairs, you'll find four generously sized bedrooms, each with ample closet space and large windows. Wait until you see the beautiful Castle like bedroom, fit for royalty! A full bathroom serves the upstairs bedrooms, making it convenient for family members and guests alike. The upstairs also features a dedicated tech center, ideal for remote work or homework. The backyard is a private paradise, perfect for both relaxation and recreation. The centerpiece is a sparkling pool, surrounded by beautiful landscaping and a spacious patio area. Whether you're hosting a summer barbecue or enjoying a quiet evening under the stars, this outdoor space has everything you need. Living in Anthem means enjoying access to a plethora of amenities and activities. The community has been recognized as the Best Master Planned Community and one of Phoenix Magazine's Best Family Friendly Neighborhoods and Best Master Planned Community for Children. Residents have access to over 15 miles of hiking and biking trails, offering endless opportunities for outdoor adventures. The Anthem Community Center is a hub of activity, featuring tennis courts, pickleball courts, other various fields/courts, multiple pools, a state-of-the-art fitness center, and much more. This home offers the perfect combination of luxurious living with modern amenities, and a vibrant community lifestyle. Don't miss the opportunity to make this beautiful house your new home! Additional Features: - Newer HVAC units ensure efficient climate control throughout the year at this beautiful North/South facing home. - A newer hot water heater. - Freshly painted interior - The three-car garage comes equipped with a charging station, ideal for electric vehicle owners.

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