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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10757 N 74th Street Unit 2012 Scottsdale, AZ 85260

$649,900
3 Beds
2 Baths
1,932 SqFt
Status Active
MLS # 6707453
Property Type Townhouse
Price Type --
Reduced!! Complete remodel! Recent comp in same complex sold July 2024 for 691k with no upgrades. 3 bedroom, 2 bath, 2 car garage in the perfect location. Newly updated with new plank and tile floors, new cabinets with soft close doors and drawers, all new light fixtures including LED can lights, new faucets, new sinks, updated showers with glass doors, new freestanding tub. This is a master bedroom split floorpan, open kitchen with dining area, great room with electric fireplace and electrical on wall for your flat screen TV. New 18 bottle wine fridge in kitchen, large island with navy cabinets with gold hardware, extra storage and waterfall countertops. White wood shutters on the dual pane insulated windows along with insulated walls for dramatically sound reduction. Click for more 2 car garage has upgraded metallic epoxy floors. New paint everywhere. Large bedrooms to fit king beds and furniture. Big fans in each bedroom with remote controls. Each bedroom has a walk-in closet with shelves, the master has and drawers with locks. Each bathroom has new cabinets, new light fixtures with new black framed mirrors. There is a separate large laundry room with frontload washer and dryer with new cabinets and more storage behind the door. There are 2 balconies, one is a large covered balcony big enough for a comfortable patio seating set and the other balcony is uncovered. Close to the 101 freeway, great restaurants, grocery stores and entertainment. Townhome is north south exposure. You'll love this! Community has a private community pool and common areas are always clean. Please come see and enjoy. open to offers

5803 N 88th Lane Glendale, AZ 85305

$649,900
5 Beds
4.5 Baths
3,018 SqFt
Status Active
MLS # 6740942
Property Type Single Family Residence
Price Type --
Welcome to your dream home in Glendale, near the Cardinals Stadium and Westgate. This stunning residence offers five spacious bedrooms and four and a half bathrooms, providing comfort for the entire family. You'll love the elegant design and modern upgrades throughout. The main floor features a grand open-concept living area, perfect for entertaining. The gourmet kitchen boasts top-of-the-line appliances and sleek countertops. Upstairs, a large loft offers versatile space for a home office or playroom. Each bedroom is designed for comfort, offering a peaceful retreat. Inspected and approved by Inspector CYFY Home Inspections, this property meets high standards of quality and safety. Don't miss the chance to own this exceptional home!

15758 S Maui Circle Arizona City, AZ 85123

$649,900
3 Beds
3 Baths
3,039 SqFt
Status Active
MLS # 6744179
Property Type Single Family Residence
Price Type --
Welcome to this exquisite custom waterfront home with a fully self-contained casita! Nestled in a peaceful cul-de-sac, offering both privacy and luxury living. Main house features an expansive chef-inspired kitchen with a massive island. Enjoy the split floor plan, high ceilings, and a fully enclosed Arizona room with breathtaking water views. The fully self-contained Casita is perfect for guests or multigenerational living, with its own living area, full kitchen, and a private back patio overlooking the water. This one-of-a-kind property combines elegant design, functionality, and serene waterfront living in a highly sought-after location. The spacious, move-in-ready design is complemented by low-maintenance landscaping, apex garage with ample storage adds to the home's convenience. This home also boasts an additional section with private entry, living room, kitchen, bathroom, and bedroom. Don't miss the opportunity to make this stunning property your new home!

805 W Zane Grey Circle Payson, AZ 85541

$649,900
5 Beds
3 Baths
2,900 SqFt
Status Active
MLS # 6745886
Property Type Single Family Residence
Price Type --
Beautifully remodeled home in the heart of Payson! Bright open floorplan welcomes you to a great room that that flows into the custom kitchen with granite countertops, ample cabinets, plus a large kitchen island. Main level offers a split floor plan with a large master suite, full bathroom, walk-in closet, and deck access, plus 2 additional bedrooms and a full bathroom! The lower level has a large family room, additional bedroom, full bathroom plus a HUGE 5th Bedroom/Bonus Room with it's own private entrance. Backyard has a covered deck is fully fenced. This home is in a cul-de-sac with NO HOA, near Rumsey Park. MUST SEE to get the full layout and experience! Pictures do not do this home justice! Please See Floorplan & Video

12940 N Northstar Drive Fountain Hills, AZ 85268

$649,900
2 Beds
2.5 Baths
1,502 SqFt
Status Active
MLS # 6748159
Property Type Single Family Residence
Price Type --
High ceilings and plantation shutters give this 2-bedroom, 2.5 bath open-concept condo a spacious feel. You'll love the large screen porch with sun-blocking shades, patio, colorful landscaping, and beautiful view of the mountains beyond. The primary bedroom is spacious and both bedrooms feature an ensuite bath and walk-in closet. The kitchen and large laundry room/pantry provide plenty of storage. A gas fireplace separates living and dining areas. And the powder room is plus! Centrally located in the heart of Fountain Hills, The Enclave is a gated, dog-friendly community with a pool - walkable to ''everything downtown.''

249 E Grandview Street Mesa, AZ 85201

$649,900
4 Beds
2 Baths
2,559 SqFt
Status Active
MLS # 6756270
Property Type Single Family Residence
Price Type --
Rare opportunity to own a 4-bedroom, 2-bathroom home in the highly sought-after Hohokam Village neighborhood with no HOA! This inviting home features an open floor plan, perfect for entertaining, with a cozy fireplace in the great room. Recent updates include brand new flooring throughout, fresh interior paint, and upgraded bathrooms. Step outside to your private backyard oasis, complete with a sparkling pebble tec pool, a large covered patio, and lush landscaping. Additional recent improvements include roof and pool repairs, along with new hardware throughout. Don't miss out on this gem!

7301 E 3rd Avenue Unit 121 Scottsdale, AZ 85251

$649,900
1 Bed
1 Bath
1,023 SqFt
Status Active
MLS # 6764366
Property Type Apartment
Price Type --
Check out this industrial-style condo at Third Avenue Lofts, located in the heart of Old Town Scottsdale. This stunning upgraded condo features an open-concept layout that maximizes space and light. As you enter, you're greeted by a spacious living area with floor-to-ceiling windows that fill the room with natural light. The gourmet kitchen is a chef's dream and the open floor plan is perfect for entertaining! Amazing location: leave the spacious patio and head straight onto 3rd Avenue for the best food and nightlife. This is available for lease-purchase, not sure what that is? We can walk you through it!

3476 E Pinto Drive Gilbert, AZ 85296

$649,900
3 Beds
2 Baths
1,702 SqFt
Status Active
MLS # 6764649
Property Type Single Family Residence
Price Type --
Discover your oasis in Lakeview Trails at Morrison Ranch! This like-new, meticulously maintained home, built in 2019, features 3 spacious bedrooms, 2 luxurious baths, a versatile den and an additional bonus space. Upgraded throughout, the home boasts beautiful wood plank tile flooring that enhances its modern charm. The heart of the home is a large, open kitchen with a massive island, perfect for gatherings and culinary adventures. Step outside to your backyard paradise, complete with low-maintenance artificial grass, a built-in BBQ, and a cozy fire table for memorable evenings. With built-in permanent LED holiday lighting, your home shines year-round. Enjoy serene lake views, multiple playgrounds for the kiddos, and walking paths throughout this welcoming community with friendly neighbors. This gem won't last long-come see it today!!

20131 N Sonoran Court Surprise, AZ 85374

$649,900
2 Beds
2 Baths
1,909 SqFt
Status Active
MLS # 6765537
Property Type Single Family Residence
Price Type --
One Of A Kind Custom Palo Verde Updated and Expanded. This Home Site is Very Special with Views of both Hole 1 And Hole 18 & Desert Springs End Of Driving Range. Hit Practice Balls From Your Custom Pad on the Extended Private Patio. Private Walled Courtyard for Sun Sets and Sun Rises. Cul De Sac Offers a Quite Wide Open Setting in The Grand. Interior Offers Beautilful Tile Flooring Throughout. Gourmet Kitchen with Newer Cabinets, Back Splash, Electric Range, SS Range Hood, Refrigerator , Dishwasher & Composite Sink. Beautiful Granite Counter Tops and Indirect Lighting. 10K Window Replacement In Home, H2O Concepts Whole House Filtration System. Bathrooms Custom Walk In Tile Showers, Quarts Counters, Newer Vanities and lighting. Stone Work Added to Front Of Home To Elevate Design.

10345 E Kinetic Drive Mesa, AZ 85212

$649,900
3 Beds
2.5 Baths
2,425 SqFt
Status Active
MLS # 6772205
Property Type Single Family Residence
Price Type --
Welcome to this stunning Eastmark home, where modern elegance meets thoughtful design! The exterior, freshly painted in July 2024, creates the perfect contrast with its light color and dark trim. Inside, you'll be greeted by a coffered ceiling entrance, beautiful wood plank tile flooring, white wood shutters, and 10-foot ceilings throughout. The gourmet kitchen is a chef's dream, featuring double wall ovens, an electric cooktop, two-toned cabinets, granite countertops, and a tiled backsplash. With pots and pans drawers, a single basin sink, and even a pot filler, this kitchen offers both style and functionality. Extra cabinets provide ample storage, and the open-concept layout flows seamlessly into the dining and living areas. The primary suite is massive and offers coffered ceilings, built-in side table lights, dual sinks on executive height vanities with granite countertops, a separate tub and shower with tile details, and a spacious walk-in closet that conveniently connects to the oversized laundry room, complete with built-in cabinets.The additional bedrooms are perfectly sized, and one of the bathrooms boasts a tiled shower and an executive height vanity. The backyard is a serene oasis, featuring a paved covered patio, artificial turf, an extra paver pad, and lush landscapingideal for relaxation and entertainment. This community offers a resort-like experience with a luxurious pool, splash pads, numerous parks, the charming Steadfast Farm, and the state-of-the-art clubhouse, The Mark, which hosts year-round events and family-friendly games. Don't miss this incredible opportunity to make this home yours!

623 W Harvard Avenue Gilbert, AZ 85233

$649,900
4 Beds
2 Baths
2,152 SqFt
Status Active
MLS # 6773584
Property Type Single Family Residence
Price Type --
SOUGHT AFTER SILVERHAWKE ORIGINAL OWNER LOVED AND CARED FOR HOME! MANY UPDATED FEATURES INCLUDE FLOORING, GORGEOUS UPSCALE KITCHEN WITH NEW APPLIANCES, GRANITE BEVELED EDGE COUNTERS, PULL OUTS AND SOFT CLOSE DOORS/DRAWERS, ROOF HAS BEEN REPLACED WITH EXTENDED WARRANTY, HVAC UPDATED 2020, POOL RESURFACED!! NOTHING TO DO BUT PERSONALIZE, JUST MOVE IN! SO MANY EXTRAS THERE IS A LIST IN THE HOUSE WHEN YOU VISIT! SILVERHAWKE IS THE BEST NEIGHBORHOOD IN NORTHWEST GILBERT WITH FREEWAY ACCESS, DOWNTOWN GILBERT, RESTAURANTS SHOPPING ALL A VERY SHORT DISTANCE... GREENBELT & PLAY EQUIPMENT RIGHT DOWN THE STREET. OUTSIDE IS PARTY YARD WITH SELF CLEANING PEBBLE SHEEN POOL WITH NEWER FILTER, GAS GRILL, LIGHT UP BAR, CEILING FANS, MATURE CITRUS,!!! DID I MENTION THE EXTENDED LENGTH GARAGE? 3 CAR GARAGE HAS PULL DOWN STAIRS TO STORAGE, STORAGE CABINETS, CUSTOM RUBBERIZED GARAGE MATS, STORAGE CEILING RACKS, LOW MAINTENACE FRONT & REAR YARD LANDSCAPE, QUALITY BUILT POST TENSION SLAB, ... WARRANTIES TO BE PROVIDED SOON FOR ROOF AND HVAC, THIS IS A WONDERFUL HOME JUST WAITING FOR YOU IN A GREAT LOCATION

17159 E Rand Drive Fountain Hills, AZ 85268

$649,900
3 Beds
2 Baths
1,580 SqFt
Status Active
MLS # 6774975
Property Type Single Family Residence
Price Type --
Fabulous 3BR/2BA split master plan features an open kitchen / living room area perfect for entertaining. Upgraded kitchen includes stainless steel appliances, maple wood cabinets & massive breakfast bar with granite counters. Cozy enclosed Arizona Room set up with a fireplace for those quiet movie nights or book reading binges. Vaulted ceilings throughout! MASSIVE lot at over 20,000 SF, offers superior desert mountain views to the northeast! Perfect 2nd home for those that love the Arizona winters & refuse to shovel snow ! Superior location ! 10 minutes from the Mayo Clinic, 20 minutes from al the premier shopping and dining in Scottsdale, Kierland, etc. Take a 1 hour drive north to the cool mountain town of Payson and or 1.5 hours to the rim. A MUST SEE !

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