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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24173 N 160th Avenue Surprise, AZ 85387

$640,484
5 Beds
4.5 Baths
3,444 SqFt
Status Active
MLS # 6765432
Property Type Single Family Residence
Price Type --
MOVE IN READY, BRIGHT GREAT ROOM PLAN , QUICK CLOSE!! 5 BEDROOM PLUS LOFT, 4.5 BATH , 3 CAR GARAGE 9'CEILINGS, GOURMET KITCHEN LAYOUT, UPGRADE CABINETS , QUARTEZ KITCHEN TOPS, SPA SHOWER IN MASTER BATH, LUXURY VINYL FLOORING. 2'WHITE BLINDS, CEILING FANS, FRONT YARD LANSCAPING COMPLETED, ENERGY STAR QUALIFIED HOME, INDOOR AIR PLUS. A SHORT DISTANCE FROM THE COMMUNITY POOL AREA, PICNIC AREA, TOT LOTS, BASKETBALL, PICKLE BALL COURTSAND SO MUCH MORE

17126 W Hackamore Drive Surprise, AZ 85387

$640,244
4 Beds
3 Baths
2,665 SqFt
Status Active
MLS # 6776842
Property Type Single Family Residence
Price Type --
MLS#6776842 March Completion! Welcome to the Everglade at Asante Passage! Enter through the porch into a warm and inviting foyer. To one side, you'll find two bedrooms sharing a bathroom, while across the way lies a laundry room, an additional bedroom with its own bathroom, and access to the two-car garage. Move deeper into the home to uncover gorgeous open-concept living, where the great room seamlessly connects to a casual dining area, a kitchen with an island, and a covered outdoor space—perfect for entertaining. The private primary suite offers a serene retreat, complete with a spa-inspired bathroom and a spacious walk-in closet. Structural options include: paver front porch, 12'x8' sliding glass door, garage service door & study in lieu of bed 2.

Glendale AZ 85305

$640,000
4 Beds
3 Baths
2,700 SqFt
Status Active
MLS # 6725528
Property Type Single Family Residence
Price Type --
Up to 3% of total purchase price towards closing costs incentive offer. Brand New Move In Ready Home on prem. lot in highly sought-after Stonehaven Community* This Adelaide floorplan is stunning 4 bed/3 bath/3 car garage single-story gem!! Home has open floor plan. Gourmet Chef's kitchen featuring upgraded 42'' cabinets, large kitchen island, quartz countertops, WI pantry, SS appliances. Owner's retreat is spacious w/dual sinks, walk in shower & large walk-in closet. Other bedrooms are spacious. Tile in all the high traffic areas. Private CASITA w/ ensuite bathroom & sitting room. Low maintenance ft & bkyard. Community features community pool, walking/biking paths, parks, playgrounds, etc. Great Location: minutes to Westgate Entertainment Center, Cardinals Stadium, & restaurants, etc.

50910 W Long Rifle Road Aguila, AZ 85320

$640,000
2 Beds
2 Baths
1,386 SqFt
Status Active
MLS # 6780527
Property Type Manufactured Home
Price Type --
This meticulously maintained, fully furnished 2-bedroom, 2-bathroom home offers both comfort and versatility, complete with an office space for all your work-from-home needs. Outdoors, enjoy the convenience of a full RV hookup, while the expansive 7.5-acre lot provides the perfect canvas for your dream horse pens and arena, designed exactly how you envision it. A container is included, ready to be transformed into a practical tack room or additional storage space. The property is securely enclosed with an 6-foot tall chain-link fence and features easily operable gates for seamless access. Surrounding the home, you'll find a variety of mature trees, including California-imported palms and a unique Australian Willow that maintains its lush foliage year-round, offering plenty of shade for the grand Arizona room. The room itself boasts vaulted beam ceilings and a ceiling fan, creating a relaxed, breezy atmosphere. An automatic drip irrigation system ensures easy maintenance, keeping the landscape beautiful with minimal effort. Additionally, the spacious two-car garage features a concrete floor and automatic doors, providing ample storage. Attached to the garage is a game/party room with a beautiful pool tableideal for entertaining, or easily converted into a guest casita. Don't miss the chance to unwind and take in breathtaking sunsets over the mountains from your new home!

3676 Gold Rush Court Wickenburg, AZ 85390

$640,000
2 Beds
2 Baths
1,959 SqFt
Status Active
MLS # 6737439
Property Type Single Family Residence
Price Type --
Welcome to 3676 Gold Rush Court! Located in a private corner of Wickenburg Ranch, this serene oasis features a stunning backyard with a calming water feature, mature plants and trees, a large stone rectangular fire pit, and dual glass walls in the great room and dining area. Remote-controlled shades with wind sensors and outdoor speakers enhance the ambiance, offering an exceptional outdoor living experience. This highly upgraded Nice floor plan boasts over $125,000 in original enhancements, with many additional improvements. These include new carpet in the bedrooms, ceiling fans throughout, new stainless steel appliances, a glass shower door in the guest bathroom, extended patio pavers, a raised garden area, and a block wall with wrought iron fencing. The gourmet kitchen is equipped with a wall oven and microwave, gas range, pullout shelves, a recycle center, granite countertops, and pendant lights. The extra-large laundry/smart space features a built-in sink, cabinets, and a desk. All window coverings operate both top-down and bottom-up for optimal comfort and lighting. The garage is complete with an epoxy floor, built-in cabinets, a brand-new garage door, outdoor lights, and a water softener. This home offers a perfect blend of comfort, style, and convenience in one of Wickenburg's most desirable neighborhoods, where every detail is designed to enhance your living experience.

134 W Crimson Sky Court Casa Grande, AZ 85122

$640,000
3 Beds
2 Baths
2,132 SqFt
Status Active
MLS # 6743294
Property Type Single Family Residence
Price Type --
Exquisite, updated Coyote Ranch home on .38 acre with side entry 3 car garage, sparkling pool, plus Casita with bathroom and heat/cooling. Expansive chef's kitchen with upscale appliances. Great room with a gas fireplace. Split primary suite for owner privacy. Drive thru gate with RV storage slab with full hookups. Outdoor kitchen, fire-pit, citrus trees. An easement along the north lot line ensures no structures behind. Beautifully decorated and maintained.

26562 W Vista North Drive Buckeye, AZ 85396

$640,000
3 Beds
2.5 Baths
2,519 SqFt
Status Active
MLS # 6755733
Property Type Single Family Residence
Price Type --
Enjoy all the amazing features this popular Journey model has to offer AND all the wonderful amenities of the 55+ Sun City Festival community. This home features a heated, lap-style pool, owned solar, 3 bedrooms, 2.5 baths and a private den with a safe, built-in cabinets and shelving. The backyard pool area is very private with no neighbors behind the home. The kitchen area includes bow windows, SS appliances, gas cooktop, refrigerator, upgraded cabinets with roll-out trays, granite counter tops, a butler pantry and separate workspace. The owner's suite features a shower and jetted tub with split vanities and a custom walk-in closet. Bedrooms include plantation shutters. The laundry includes the washer & dryer and sink with built-in cabinets. The garage also includes built-in cabinets.

20461 W Briarwood Drive Buckeye, AZ 85396

$640,000
3 Beds
2 Baths
2,514 SqFt
Status Active
MLS # 6771287
Property Type Single Family Residence
Price Type --
Discover this stunning 2,514 sq ft home in the heart of the Verrado. Built in 2017, this beautifully updated property offers 3 bedrooms, a den, and 2 bathrooms. The spacious, open-concept floor plan features a gourmet kitchen with an oversized island, white staggered cabinets, and plenty of space for entertaining. The home has new carpet, fresh paint, and a backyard with newly planted trees, making it feel brand new. Outside, enjoy your private heated pool and built-in spa, perfect for year-round relaxation. A 3-car garage and owner's entry with extra storage add to the home's functionality. Located near several parks and Verrado's community pool, this home offers the perfect blend of comfort and convenience in one of Buckeye's most sought after neighborhoods.

1640 W Clarendon Avenue Phoenix, AZ 85015

$640,000
3 Beds
2.5 Baths
1,897 SqFt
Status Active
MLS # 6782539
Property Type Single Family Residence
Price Type --
Welcome to your dream home in a quiet, central Phoenix neighborhood! This remodeled, 3-bedroom, 2.5-bath home offers an inviting open-concept, split-floorplan design with contemporary finishes. The huge kitchen, complete with stainless appliances including a wine fridge, gas cooktop, wall oven, and large island with breakfast bar, flows seamlessly into the dining and family room, perfect for gatherings. A double-sided gas fireplace opens to both the dining area as well as separate den or office The primary bedroom opens boasts a walk-in closet, ensuite bath with custom tile, and a separate Japanese soaking tub and opens to the pool area. The large backyard features a sparking pool and covered patio. Walking distance to Phoenix Christian, Clarendon Elementary, & St. Gregory's Elementary.

9820 E Satellite Drive Mesa, AZ 85212

$640,000
4 Beds
3 Baths
2,145 SqFt
Status Active
MLS # 6781511
Property Type Single Family Residence
Price Type --
Fall in love with this beautiful 4 Bedroom 3 Bath single-level residence in EASTMARK! Impressive interior boasts a great open floor plan with wood-look tile flooring, a wall-mounted fireplace, and wide sliding glass doors that merge the indoor-outdoor living. Immaculate kitchen comes complete with recessed & pendant lighting, a pantry, ample white cabinetry with decorative molding, a prep island with a breakfast bar, sleek quartz counters, and glossy SS appliances. Romantic primary retreat offers a plush carpet, an ensuite with dual sinks, and a walk-in closet. Additional highlights include an open den that can double as a game room. Check out the large backyard with artificial turf, covered patio, and pavers - an ideal spot for relaxing. All this and lots of room for storage - 3CG!!

7163 E Grass Land Drive Prescott Valley, AZ 86314

$640,000
3 Beds
2 Baths
1,811 SqFt
Status Active
MLS # 6782324
Property Type Single Family Residence
Price Type --
Experience luxury at StoneRidge w/ This Beautiful 3-bedroom, 2-bathroom Open Floor plan home, Features elegant pecan color wood flooring thru-out, making this home a cozy setting for Entertaining . The Modern kitchen boasts convenience w/ like New KitchenAid appliances, ideal for gourmet cooking. Recent upgrades include a Brand New HVAC system and 40g Water Heater, ensuring comfort and efficiency. The backyard is fully paved for a low-maintenance outdoor living, The 3-car garage offers ample space for all Kinds of Storage and Vehicles . This is the ultimate blend of style and functionality with only a few blocks from the prestigious StoneRidge Golf Course Clubhouse. A MUST SEE!

24118 S Stoney Lake Drive Sun Lakes, AZ 85248

$640,000
2 Beds
2 Baths
1,997 SqFt
Status Active Under Contract
MLS # 6766696
Property Type Single Family Residence
Price Type --
Arizona living at its best, in the gated adult community of Oakwood! Charming Milano model featuring a 2 bedroom, 2 bath split floor plan, den, great room w/ vaulted ceilings & gas fireplace, wooden shutters, wooden blinds, tile floors and ceiling fans throughout. Interior freshly painted. Beautiful pebble finished pool w/ water feature, huge covered back patio, private courtyard entry, mature landscaping, perfect for entertaining. 2 car extended garage & separate golf cart garage located on a premium nearly 10,000 sq. ft. corner cut de sac lot. Community amenities include golf, tennis, pickleball, pools/spas, fitness center, billiards, clubs, social activities & restaurants.

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