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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15045 N 20th Place Phoenix, AZ 85022

$649,900
3 Beds
2 Baths
1,537 SqFt
Status Active
MLS # 6776568
Property Type Single Family Residence
Price Type --
welcome to this gem in the desert overlooking the city with stunning mountain views. rare remodeled from top to bottom and professionally designed home with attention to detail. home is also available for rent or lease purchase. owner agent with fast answers.

3540 N Sonoran Hills Mesa, AZ 85207

$649,900
5 Beds
3 Baths
2,475 SqFt
Status Active
MLS # 6780637
Property Type Single Family Residence
Price Type --
Experience upscale living in an award-winning gated community offering an extensive list of amenities such as pickleball & tennis courts, a beautiful boutique-style spa & fitness center, numerous parks & trails, and a world-class golf course. This gorgeous 5-bedroom home features vaulted ceilings, abundant natural light, and spacious kitchen with center island and SS appliances. With an open layout, neutral color palette, and modern finishes, this home gives off a refined sophistication. Retreat upstairs to your luxurious primary suite with covered walk-out balcony to enjoy the beautiful Arizona sunsets. With one bedroom and full bath on first floor and 3 additional bedrooms on the second floor, this home is flexible and functional, as well as elegant. 2021: New laminate wood flooring in upstairs hallway, master bedroom and upstairs south-facing bedroom; kitchen water filtration system installed; new range, refrigerator, and washer/dryer. 2023: UV safe tint on Western facing windows; new dishwasher and microwave.

349 E Atlantic Drive Casa Grande, AZ 85122

$649,900 - 6Br/4Ba -  for Sale in Villago Parcel 21, Casa Grande
New
$649,900
6 Beds
3.5 Baths
2,671 SqFt
Status Active
MLS # 6780941
Property Type Single Family Residence
Price Type --
This impressive FULTON home boasts a full basement and solar panels, nestled in a resort-style lake community on over a quarter-acre lot. The residence includes four bedrooms and 2.5 bathrooms in the main living area, as well as two additional bedrooms, a full bathroom, and a bonus room in the basement. Evident pride of ownership shines throughout the property. Updates include new flooring in 2023 and a new gas stove. The backyard is an oasis with lush fruit trees, a built-in BBQ, and ample space for a potential pool.

41160 W Almira Drive Maricopa, AZ 85138

$649,900 - 5Br/4Ba -  for Sale in Raintree Parcel 14 At Glennwilde, Maricopa
New
$649,900
5 Beds
4 Baths
3,215 SqFt
Status Active
MLS # 6783057
Property Type Single Family Residence
Price Type --
Gorgeous 5 bedroom, 4 bath home with all the upgrades on a huge 15,000+ sq. ft. lot! Plank tile throughout, large granite island, gourmet kitchen and ceramic tile backsplash. Make your way through the 16 foot Arcadia door to the professionally designed backyard complete w/heated, salt water pool w/water feature, travertine decking and turf. Insulated 3 car tandem garage includes charging for electric vehicles. This home has it all!

14200 W Village Parkway Unit 2254 Litchfield Park, AZ 85340

$649,900 - 2Br/2Ba -  for Sale in Cachet At The Wigwam Amd, Litchfield Park
New
$649,900
2 Beds
2 Baths
1,723 SqFt
Status Active
MLS # 6781698
Property Type Townhouse
Price Type --
Ready to tee off into the ultimate lifestyle? Cachet at the Wigwam offers an unbeatable value, perfectly located on the 10th hole of the Red Course with stunning golf course views. Step inside to find elegant flooring, soft neutral tones, and a versatile den that offers endless possibilities. The stylish kitchen features large cabinets with crown molding, a tile backsplash, quartz countertops, matching appliances, and a breakfast bar. The primary suite includes a tiled shower, dual sinks, and a spacious walk-in closet. Unwind on the covered patio, taking in the beautiful Arizona evenings under the firepit and breathtaking scenery. Fantastic amenities include a pool, clubhouse, and fitness center. This is AZ outdoor/indoor living at its finest!

19852 W Heatherbrae Drive Litchfield Park, AZ 85340

$649,900
4 Beds
3 Baths
2,651 SqFt
Status Active Under Contract
MLS # 6741804
Property Type Single Family Residence
Price Type --
TWO HOMES IN ONE. - 3 bed, 2 bath (1,967 sq ft) Main Home with an attached 1 bed, 1 bath Casita/Guest Suite (682 sq ft) with full kitchen, separate entrance and 1 car garage, all on one level. Ideally suited for extended family/in-laws, Guest Suite or fantastic separate work at Home Office. Tile floors throughout (no carpet), Slide out shelves in the kitchens and baths; Overhead storage racks in garages, ceiling fans, reverse osmosis and soft water systems. Extended patio with beautiful marble pavers, landscaped backyard with low maintenance synthetic grass.,

15022 S 47th Way Phoenix, AZ 85044

$649,900
3 Beds
2 Baths
1,846 SqFt
Status Active Under Contract
MLS # 6779349
Property Type Single Family Residence
Price Type --
Beautifully and meticulously renovated single level home with awesome designer touches throughout! Huge kitchen granite island, amazing new cabinets, upgraded SS appliances. Open and bright with high ceilings huge windows dual plantation shutter, and awesome slider from living/ large family room and master bedroom to outside patio and beautiful pebble tech pool! Perfect changes to floorplan expanded kitchen and master with upgrades galore! Large private backyard is perfect for entertaining, kids and pets! Lush landscaping, firepit and covered patio- great extension of family room area. Great location on large cul-de-sac in this popular Ahwatukee area with no HOA. Close to great shopping, restaurants & cafes, plus minutes to freeway and airport.

23426 N 122 Lane Sun City, AZ 85373

$649,900 - 5Br/4Ba -  for Sale in Dos Rios Unit 2 Crossriver, Sun City
New
$649,900
5 Beds
4 Baths
3,837 SqFt
Status Active
MLS # 6784200
Property Type Single Family Residence
Price Type --
Truely a unique gem with so many extra features waiting to be discovered! Spacious home w/5 large bedrooms & 4 baths. One full bath and bed down that has a huge walk-in closet with storage shelves. Master suite w/sitting area, 2 walk-in classy closets, one w/a hidden storage room! Ensuite has a fabulous walk-in shower and lovely soaking tub. Huge double loft could be 6/7th bedrooms. Built-in desk in loft and in one bedroom. Lots of storage throughout home. Newer flooring throughout, paint, garage doors, A/C, and water softener and fridge. Extra cabinets in the laundry room and garage. Very Private lot w/no neighbors behind, newer pool, water feature, hot tub, turf, sport court, RV gate w/26 ft concrete parking pad. High end automatic roll down shades on huge back patio for great shad

1246 S Sunnyvale -- Mesa, AZ 85206

$649,900
4 Beds
2 Baths
2,783 SqFt
Status Active Under Contract
MLS # 6743315
Property Type Single Family Residence
Price Type --
**PRICE IMPROVEMENT** Fall in love with this large 4BR home from the minute you step inside; the immaculate and inviting interior is sure to make you smile! It's easy to picture yourself enjoying this lovely home with its inviting, open floorplan featuring vaulted ceilings and large windows that draw in the natural light, lighted niches, generous secondary bedrooms with plantation shutters, a lovely master suite with a spacious bathroom featuring dual sinks, separate shower & tub, and large walk-in closet. This home is move-in ready with a new professionally painted interior, brand new contemporary ceiling fans and updated fixtures in the main living areas. Two large living areas invite you to entertain friends or enjoy time with your family. A beautiful, upgraded kitchen with granite counters, stainless appliances and recessed lighting, direct access to the covered patio via French doors, a large laundry room and a 3-car garage with Epoxy coated floors are just a few of the things that make this home special and livable. The low-maintenance landscaping will free up your time for fun with friends and family, and the home is within walking distance to elementary and junior high schools. DON'T MISS this rare opportunity to snag a gem in Mesa's coveted STONEGATE ESTATES!

8815 W Carole Lane Glendale, AZ 85305

$649,900
6 Beds
3 Baths
3,408 SqFt
Status Active
MLS # 6637555
Property Type Single Family Residence
Price Type --
WELCOME TO YOUR DREAM HOME OVER 3408 SF. 6 BEDROOMS AND 3 BATHROOMS.FOLLOW THROUGH TO THE AMAZING LIVING SPACE AND BEAUTIFUL KITCHEN WITH GRANITE COUNTERS, GREAT DINING AREA, LOVELY MASTER WITH EN SUITE BATH.LARGE BACKYARD WITH PEBBLE TEC POOL. ONE MINUTE FROM CARDINALS' STADIUM, ONE MINTE FROM WEST GATE MALL AND 101 FREEWAY.

2408 W Crimson Terrace Phoenix, AZ 85085

$649,900
4 Beds
3 Baths
3,252 SqFt
Status Active
MLS # 6697417
Property Type Single Family Residence
Price Type --
4% LOAN ASSUMPTION AVAILABLE! Fabulous 4 bed (plus den & loft) 3 bath two-story home in the family friendly Carefree Crossing. Low HOA is a plus! Nice curb appeal w/ stacked stone accents, desert landscaping & large, healthy shade tree. Great floor plan w/ neutral paint, soaring ceilings & updated lighting/fixtures. Living room/dining room greet you, along w/ versatile French door entry office to your right. Perfect for home office or game/playroom if desired. Family room w/ built in buffet area makes perfect bar space. Open kitchen has plenty of cabinet space, SS appliances & island w/ raised bar top great for serving or extra seating. Breakfast area w/ bay windows looking out to backyard. Downstairs primary room has private sliders to backyard & bathroom w/ dual sinks, seated vanity, soaking tub, glass shower, private toilet, linen pantry & walk-in closet w/ built-in shelving. Second bedroom downstairs is a plus. Upstairs you will find the massive, versatile loft & the other two bedrooms, (one w/ delightful window seat) & a full bathroom w/ dual sinks. Backyard has large, covered patio w/ extended pavers, shade ramada, grassy area & raised planter perimeter, along w/ another great shade tree. Residents are very close to shopping areas to both the north & south & have quick, easy access to I-17. Come check it out today!

18547 W Oregon Avenue Litchfield Park, AZ 85340

$649,900
4 Beds
2.5 Baths
2,988 SqFt
Status Active
MLS # 6704866
Property Type Single Family Residence
Price Type --
FREE 2-1 BUYDOWN IN THIS RV FRIENDLY COMMUNITY!! Charming and very gently lived in 4 bedroom, 2.5 bath home. This bright and inviting floorplan offers updated faux barn wood plank style tile flooring throughout the entire first floor, a beautifully updated kitchen complete with butler's pantry and upgraded stainless steel appliances, upgraded french door overlooking the lush green back yard, upstairs offers a spacious laundry room for convenience, 3 generously sized guest rooms and a very large master retreat with spacious en suite and his and hers walk in closets. But wait, there's more, also featuring a 3 car tandem garage, RV gate and parking, storage shed, 11,000+sqft lot, large covered patio, fire pit and garden area, this home truly offers something for everyone....don't miss out

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