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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3514 W Riordan Ranch Road Phoenix, AZ 85083

$649,000
5 Beds
3 Baths
2,780 SqFt
Status Active Under Contract
MLS # 6734283
Property Type Single Family Residence
Price Type --
Stunning home in the Riordan Ranch community! Situated at the back of a cul-de-sac, this cozy 5 bedroom, 3 bathroom home has it all! One bedroom and full bathroom on the first floor for privacy. Four bedrooms and a loft upstairs makes for an easy use of space for all your comfort and entertaining needs! Enjoy the summer nights in the fabulous pool with water feature and oasis like, east facing backyard. Step out to the front of the home and take a look at the amazing preserve that allows for privacy in your neighborhood! Close to I-17 freeway, shopping and dining, Sandra Day O'Conner High School and many other great amenities makes this a home you will not want to miss!

21297 Antelope Road Paulden, AZ 86334

$649,000
3 Beds
2 Baths
1,951 SqFt
Status Active Under Contract
MLS # 6739434
Property Type Single Family Residence
Price Type --
Check out the video! Stunning views with State Land Access and Privacy! Enjoy 5 acres with, orchard and a lovely home built in 2022! This custom home has ample space with 3 bedrooms, 2 full bathrooms, office, and open floor plan. The kitchen with farmhouse sink, quartz counter tops and exquisite finishes opens up to the huge family room. The large 17x17 main bedroom has dual sinks, granite countertops, garden tub and large walk-in closet. Enjoy the great outdoors with plenty of room to customize your own fenced in land, fruit trees, chicken coop and shed. Just 15 minutes from Chino Valley shopping and services, this special place is remote but easily accessible and just close enough. Buyer to verify all listing information. Voluntary Neighborhood Road Maintenance.

3732 W Shannon Street Chandler, AZ 85226

$649,000
4 Beds
3 Baths
2,417 SqFt
Status Active Under Contract
MLS # 6752210
Property Type Single Family Residence
Price Type --
Fabulous home in an even better location. Located in the Kyrene school district This wonderful home has 4 bedrooms and 3 baths And a 3 car Garage. All the extras your buyer is looking for, a bedroom and bath downstairs ideal for a guest room or office. The primary bedroom has a large sitting area with a fabulous view and no homes behind it. The Primary bath is updated with a soaking tub separate shower with 2 sinks.. The Kitchen has been updated with Copper backsplash, Quartzite counters, and stainless steel appliances. 3 car garage gives you room for all your toys and the side yard has an RV gate for the extra items. This home is in the fabulous award-winning Kyrene school district and Corona Del Sol High School boundaries. The seller has updated the home with high tech security sys

4226 E Everett Drive Phoenix, AZ 85032

$649,000
3 Beds
2 Baths
1,267 SqFt
Status Active
MLS # 6750491
Property Type Single Family Residence
Price Type --
Welcome to this tastefully remodeled and well cared for home in a desirable neighborhood. The flooring in the great room ties together the living room, dining area and a kitchen that features quartz counters and a brand new complete appliance package. Both the primary and hall bathrooms have been completely remodeled with upscale finishes. The 2-car garage has epoxy flooring, and the walls and attic rafters have been foam insulated for improved energy efficiency. The front yard is nicely landscaped and the walled-in backyard has a large natural grass area with plenty of room for the future addition of a swimming pool. The neighborhood is located less than 2.5-miles from the reimagined PV dining, entertainment, and retail experiences. Come discover your new home.

1800 N 156th Drive Goodyear, AZ 85395

$649,000 - 3Br/3Ba -  for Sale in Palm Valley, Goodyear
Open House
New
$649,000
3 Beds
3 Baths
2,558 SqFt
Status Active
MLS # 6782725
Property Type Single Family Residence
Price Type --
Check out that marble flooring! What a Grand entrance into this immaculate 3-bedroom, 3 bath home located in a cul-de-sac lot near a playground. This home features plantation shutters, a kitchen to delight any picky chef with so much space and extended granite counter tops to include a large enough breakfast bar to seat the family. The guest suite features a separate living space with living area, which includes separate washer, dryer hooks ups and separate bed and bath. To top it off the backyard is a blank canvas for completing your entertainment dreams.

17621 N Eagle Crest Drive Surprise, AZ 85374

$649,000 - 2Br/2Ba -  for Sale in Sun City Grand-jasper Point, Surprise
Open House
$649,000
2 Beds
2 Baths
2,273 SqFt
Status Active
MLS # 6761486
Property Type Single Family Residence
Price Type --
Sun City Grand 2 bed 2 bath w/Den on Granite Falls South Golf Course with a great view of #16 green. Quartz counter tops and maple cabinets at the kitchen, carpet and tile throughout. A gas fireplace at the living room, double sinks at master bath and bay at master bedroom. Closet shelving system at master closet. Shutters and honeycomb blinds for window coverings, Ceiling fans, solo tubes, & water softener. Extended 3 car garage w/cabinets and a work bench. Step onto the extended e facing patio for great views and a built in gas BBQ.

3794 E Terrel Street San Tan Valley, AZ 85143

$648,990
4 Beds
3 Baths
2,604 SqFt
Status Active
MLS # 6763777
Property Type Single Family Residence
Price Type --
This home has it all with room for your guests and all of your toys! Popular Explorer plan features a full guest suite with its own private entrance as well as it's own RV garage. This home is situated in the amenity rich community of Bella Vista Farms. Residents enjoy an amenity-rich lifestyle with exclusive access to an onsite swimming pool, picnic area, splash park, playground, basketball court, volleyball court and greenbelt. The local area is host to the San Tan Regional Park, where locals enjoy biking, hiking, horseback riding and more.

14217 N 11th Way Phoenix, AZ 85022

$648,790
3 Beds
2 Baths
1,991 SqFt
Status Active Under Contract
MLS # 6765992
Property Type Single Family Residence
Price Type --
You'll be enchanted by this exquisite Moon Valley gem. Located in a quiet cul-de-sac, this breathtaking home has undergone recent updates, featuring new flooring, updated baths, double-pane windows, air conditioning, ductwork, fresh interior and exterior paint and more. This gorgeous kitchen is right off your Pinterest page. Two tone cabinetry, huge center island with quarts counters and new stainless appliances. However, your favorite retreat will undoubtedly be the backyard. Step through your 15-foot sliding doors into your private sanctuary, complete with a fenced pebble-tec pool, gazebo, firepit, and stunning landscaping. Whether you're entertaining guests or simply relaxing by the pool, you'll enjoy a beautiful and tranquil atmosphere. with plenty of privacy and mountain views.

3533 N Nathan Court Buckeye, AZ 85396

$648,000
3 Beds
2.5 Baths
2,536 SqFt
Status Active
MLS # 6751010
Property Type Townhouse
Price Type --
This stunning home in the private, gated community of Vallarta offers everything Verrado is known for and more. Perfectly situated on the acclaimed Founders Course, this meticulously maintained, model-style home boasts a prime location on a secluded cul-de-sac, with open grassy common areas and breathtaking golf course views. Featuring 3 bedrooms, 2.5 baths, with 3rd bedroom available for bedroom or office and owned solar panels with transferrable warranty (recent solar system inspection, inverter firmware upgrade) for minimal electric bills, this home has it all! Enter the gourmet kitchen, a chef's dream, complete with 42'' white cabinets adorned with champagne brass knobs, a stylish backsplash, quartz countertops, stainless steel appliances, a huge kitchen island with ample storage, pendant lighting, a gas stovetop, reverse osmosis drinking water system, pull out shelving, and soft close drawers. The stainless steel refrigerator is included making this space ready for your culinary adventures. Wake up to stunning views from the primary bedroom, which features tray ceilings, updated pendant lighting, and access to a private balcony offering panoramic views of the golf course, mountains, and cityscape. The luxurious primary bathroom boasts a spacious tile and glass shower, perfect for a refreshing start to your day. An additional bedroom, bathroom, and loft area complete the upper level, providing flexible living options. The open and airy great room concept floor plan includes a multi-glass sliding door that seamlessly integrates indoor and outdoor living, making it an entertainer's dream. The serene backyard, with extended pavers and a watering system for plants, is an ideal retreat with breathtaking mountain and golf course views. Enjoy cozy evenings by the outdoor fireplace or fire pit, perfect for relaxing and entertaining. Additional home upgrades include a custom wrought iron front door, commercial grade berber carpet and LVP wood-like flooring installed upstairs in 2022, plantation shutters, designer built-ins by Classy Closets, a high-end water softener, ceiling fans with dimmer remotes, and a fully painted exterior add to the home's appeal. Updated lighting in the powder bath, included washer and dryer, Comfort Cooling AC zone differential, owned security system with cameras through ADT, Google Nest door camera, animal deterrent fencing around exterior open fence areas and backyard rain gutters enhance the home's functionality and style. The garage features a heated/cooled air conditioner, garage cabinets, a workshop, and storage racks with a 700+ lb and added insulation in the ceiling for efficiency. Residents of Vallarta enjoy exclusive access to a private pool, set among charming tree-lined streets and lush green landscapes. Verrado offers an array of amenities, including shopping, local restaurants, hiking and biking trails, two additional outdoor pool locations, a fitness center, top-rated A+ schools, and over 78 parks. Community events are hosted throughout the year, creating a vibrant and connected lifestyle. With future developments, including outdoor shopping and a medical center just down the road, Verrado's convenience continues to grow. The HOA covers exterior paint, road maintenance, pool, and all front yard landscape maintenance including irrigation, and water, offering truly Lock and Leave, maintenance-free living. Come experience the best of the Verrado lifestyle in the luxury community of Vallarta. This home is PRICED TO SELL - don't miss out on this exceptional opportunity!

18410 N 70th Drive Glendale, AZ 85308

$648,000
3 Beds
2 Baths
1,942 SqFt
Status Active Under Contract
MLS # 6766686
Property Type Single Family Residence
Price Type --
Are you looking for a 1/2+ Acre Lot, with a 3 Bedroom/2 Bathroom/2 Car Garage Home with a separate Workshop/Garage/Man Cave Office that has room for 4 more Cars? Oh, there is also a Pool and Spa with a huge, covered Patio and plenty of grass areas to enjoy this Property. No, no, H.O.A.!!! The exterior of this Home and Workshop were just painted in September 2024 and a new Roof on the main Home was completed in May 2024. Check out the extensive Home Improvement List in the Document Section.

4220 N 32nd Street Unit 2 Phoenix, AZ 85018

$648,000 - 3Br/3Ba -  for Sale in Arcadia 32, Phoenix
New
$648,000
3 Beds
3 Baths
1,487 SqFt
Status Active
MLS # 6784339
Property Type Townhouse
Price Type --
Introducing the epitome of modern patio home living in the heart of Arcadia - welcome home to the Arcadian Phoenix. Nestled in the coveted 85018 area code, these modern townhomes redefine living with their spacious floor plans and an array of amenities. Step inside to discover a haven of elegance, boasting 10-foot ceilings on the main living floor and large windows that flood the space with natural light. The gourmet kitchen seamlessly merges with the inviting family room, creating the perfect setting for both everyday living and entertaining. Revel in the exquisite finishes, featuring stunning cabinetry, sleek quartz countertops, and timeless stainless steel appliances. Experience true architectural brilliance with the inclusion of a charming Juliet balcony

30009 W Latham Street Buckeye, AZ 85396

$648,000 - 3Br/2Ba -  for Sale in West Phoenix Estates Unit 12, Buckeye
New
$648,000
3 Beds
2 Baths
1,512 SqFt
Status Active
MLS # 6784437
Property Type Single Family Residence
Price Type --
Welcome to your new home located on a serene acre lot with stunning mountain views. This beautifully remodeled home offers the perfect combination of modern living and energy efficiency. Featuring a fully upgraded kitchen and bathrooms with elegant quartz countertops, this home is designed for comfort and style. No APS bill since May 2023, due to 50 fully paid-off solar panels and an energy-efficient SolarEdge inverter. Additionally, the property is powered by a liquid-cooled 22 kW Generac generator with a 10-year extended warranty and includes a 500-gallon propane tank for extra reliability. Enjoy enhanced energy savings with Energy Star Certified Low E coating windows and back patio door from Renewal by Andersen. A 27' x 30' detached garage by Southwest Building Solutions provides ample space for vehicles or projects. A new roof installed in 2022 and Lennox 4 Ton 16 SEER A/C - Heat Pump in 2020 ensures peace of mind. The entire property is designed to offer privacy, tranquility, and a perfect environment for horses, chickens or other outdoor pursuits. Don't miss this rare opportunity to own a home with breathtaking views and unparalleled efficiency!

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