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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2619 S Shannon Drive Tempe, AZ 85282

$640,000
4 Beds
2 Baths
2,155 SqFt
Status Active Under Contract
MLS # 6772715
Property Type Single Family Residence
Price Type --
Recently Renovated Charmer! Great chance to be in central Tempe location with all the work done for you! This is one sexy house with all the new finishes! All new bathrooms! Kitchen opened up and makes it feel so much bigger! Tile everywhere but bedrooms which have new carpet! Nice sized secondary bedrooms too! Roof approx 5 yrs, 2 newer water heaters, pool has newer pebble finish, new patio roof, the list is endless! AMAZING location with one of the largest lots in the subdivision! Don't miss out on the ''back'' backyard! Easy walk to elementary and middle school! Easy freeway access, great shopping and restaurants close by! NO HOA! Turn it into a short term rental? Would even be great as an ASU rental!

731 W Melody Avenue Gilbert, AZ 85233

$640,000
4 Beds
2.5 Baths
2,458 SqFt
Status Active
MLS # 6780474
Property Type Single Family Residence
Price Type --
Live in the heart of Gilbert. This Immaculate 4 bed 2.5 ba home has new roof, new hot water heater, newer AC, new paint, new flooring, with no neighbors across the street just green grassy park, has a vaulted ceiling grand entrance leads you past the living room and formal dining area and into a beautiful remodeled kitchen that is open and inviting, large family room and 1/2 bathroom downstairs. Upstairs you will love the large primary bedroom w/ spacious bathroom. There is an exit door to the long balcony attached to the primary bedroom. 3 additional good sized bedrooms upstairs with a beautiful hall bathroom. Lush and green grassy backyard sitting under the spacious covered patio. Close to the heart of downtown Gilbert and all the dining, shopping, and entertainment it has to offer

2276 W Periwinkle Way Chandler, AZ 85248

$640,000
4 Beds
2 Baths
1,961 SqFt
Status Active
MLS # 6777924
Property Type Single Family Residence
Price Type --
Single level home in Ocotillo near the Ocotillo golf course. Home was remodeled in 2020 with beautiful flooring, light fixtures, & baths. Corner lot with 3 car garage which includes wiring for EV charging. Inside you'll find beautiful wood like floowing throughout the home, bright and open formal dining & living space that continues into the family room / kitchen area. Beautiul granite counters, white cabinetry, stainless steel appliances, pendant lights, and an island. The family room has a fireplace. Large sliding glass door opens to a covered patio, pool and backyard space. Primary bedroom faces the backyard and the primary bath, has a separate tub, beautilful shower with separate toilet area. One of the secondary bedrooms could double as an office w/french doors, Solar panels

3137 W Baseline Road Laveen, AZ 85339

$640,000
4 Beds
2.5 Baths
2,480 SqFt
Status Active
MLS # 6533532
Property Type Single Family Residence
Price Type --
Welcome to this stunning and breathtaking 4-bedroom, 2.5 bathroom home that will take your breath away! This magnificent residence is the epitome of family living and offers a warm and inviting atmosphere that will make you feel right at home. As you step inside, the grandeur of this home will envelop you with a sense of awe and wonder. The spacious living room exudes an ambiance of calmness and serenity, making it the perfect place to relax and unwind after a long day. The open floor plan creates a seamless flow into the dining area and kitchen, providing a natural gathering spot for family and friends. The mother-in-law suite is a wonderful addition to this home, providing a comfortable living space for extended family or guests. Step outside to the backyard oasis that will transport you to a world of calm and relaxation. Enjoy your gatherings and afternoons in this spacious backyard w/storage shed, paved patio, a tree house, & so much more to make it your own. You also can have animal on this property like horse, chicken, sheep, etc! Don't miss this opportunity! This home also boasts a laundry room, a 2-car garage, and easy access to near by parks, shopping, and dining. Come and see for yourself why this home is the perfect place to create everlasting memories with your loved ones. Schedule your showing today and let the magic of this home take your breath away!

8519 E Sandalwood Drive Scottsdale, AZ 85250

$640,000
4 Beds
2 Baths
1,620 SqFt
Status Active
MLS # 6739772
Property Type Single Family Residence
Price Type --
Welcome to your first home in PRIME South Scottsdale! Ideally located just 2.5 miles from Scottsdale Fashion Square, Pavilions shopping, and Talking Stick Casino, this home also offers easy access to the 101 freeway for added convenience. You'll be in the sought-after Scottsdale School District, making it perfect for families or first-time buyers. Whether you're beginning your homeownership journey or growing your family, Sandalwood Dr is the perfect place to create lasting memories. Don't miss your chance—say yes to this address and make it yours today!

4254 S Winter Lane Gilbert, AZ 85297

$640,000
4 Beds
3 Baths
2,869 SqFt
Status Active
MLS # 6757979
Property Type Single Family Residence
Price Type --
Premium Location and corner lot right across from the park. No neighbors on 3 sides of the home. 4 bedrooms and 3 full bathrooms. There is a large bonus room with real wood flooring. Kitchen has 42 inch Cherry cabinets, kitchen island, and stainless steel appliances. Master bedroom is upstairs with a huge walk in closet, dual sinks, separate tub and shower. Two secondary bedrooms upstairs and one bedroom downstairs with a full bathroom. Epoxy flooring in the garage Beautiful backyard sitting area with view fence over looking the grassy area in the back

255 E Thurber Road Wickenburg, AZ 85390

$640,000
3 Beds
2 Baths
1,864 SqFt
Status Active
MLS # 6674765
Property Type Single Family Residence
Price Type --
Welcome to your own slice of paradise in the heart of Wickenburg, Arizona! Perched atop a hill on nearly 2 acres of picturesque land, this stunning Santa Barbara style home offers unparalleled views of the Hassayampa River and the surrounding mountains. Step inside this recently remodeled oasis and prepare to be dazzled by its elegant charm and modern amenities. Brand new roof in 2024!! The spacious living areas feature vaulted ceilings with exposed beams, and wood fireplace, creating an airy and inviting atmosphere. Beautiful tile floors and granite countertops add a touch of luxury to the open-concept kitchen, which boasts updated appliances and ample space for entertaining. With multiple bedrooms and bathrooms, including a separate guest quarters or hobby room, there's plenty of room for family and friends to relax and unwind. And when it's time to escape the Arizona heat, you'll love cooling off in the refreshing pool while taking in the breathtaking sunset views. But the beauty of this property doesn't end thereoutside, you'll discover desert landscaping and expansive outdoor living spaces perfect for enjoying the stunning 360-degree vistas. Whether you're lounging on the patio, gardening in the backyard, or tinkering in the workshop, every moment spent here is sure to be filled with tranquility and serenity.

6346 N 14th Street Phoenix, AZ 85014

$640,000
2 Beds
3 Baths
2,283 SqFt
Status Active
MLS # 6703109
Property Type Townhouse
Price Type --
Welcome to your dream home! This stunning Uptown house with 2 bedrooms, 3 full bathrooms, and office space, and separate den offering ample space for comfortable living. With spacious bedrooms, walk in closet, an open-concept kitchen, separate laundry room, and a private pool, luxury meets functionality here. This house is situated in gated area with a private street. Located in the greatly desired Madison School District only minutes away from Biltmore, PHX airport, downtown Phoenix, and Scottsdale. Enjoy the convenience of a 2-car garage. HOA covers: COX cable with all the movie channels ($130 value), landscaping and maintenance in common areas, as well as landscaping of grass along the front of the house. Don't miss out on the opportunity to make this your new home.

1596 High Country Drive Heber, AZ 85928

$640,000
3 Beds
2.5 Baths
1,810 SqFt
Status Active
MLS # 6703861
Property Type Single Family Residence
Price Type --
Stunning mountain retreat in High Country Pines nestled on a heavily treed .50-acre homesite on a private cul-de-sac. This 3 BR/ 2.5 BA is more than just a home; it's a sanctuary where nature's beauty surrounds this beautiful cabin. This home boasts a great room with a wood burning fireplace embraced by floor to ceiling river rock, chiseled slab granite in the kitchen with an island, gas stove, tiled backsplash, spacious laundry room with cabinets and sink, bathrooms are stone counters, travertine tiling in the baths/shower, knotty pine interior doors and ceiling, bay windows, central heat /AC, the master has dual vanities and a private balcony. The exterior offers a 2 car garage, flagstone and a firepit. The spacious rear deck brings breathtaking treetop vistas with panoramic views.

15413 W Alexandria Way Surprise, AZ 85379

$640,000
4 Beds
3 Baths
2,906 SqFt
Status Active
MLS # 6713660
Property Type Single Family Residence
Price Type --
A must see. This 4-bed, 3-bath home in Marley Park! Displaying a 2-car garage, manicured landscape, & a cozy front porch. Fabulous interior features tons of natural light, designer paint, & wood-look tile flooring w/carpet in bedrooms. Discover the welcoming living room, formal dining room, and an inviting family room that opens to the kitchen! SS appliances, granite counters, a walk-in pantry, mosaic tile backsplash, a breakfast bar, & staggered cabinetry w/crown Moulding make up the culinary space. Main bedroom has outdoor access and an ensuite with two vanities, separate tub/shower, & a walk-in closet. Laundry room w/sink & cabinetry. Side patio for a morning coffee! Enjoy the entertainer's backyard with a covered patio, pavers, firepit, hot tub, & a refreshing pool & owned solar.

1715 W Satinwood Drive Phoenix, AZ 85045

$640,000
5 Beds
3 Baths
2,904 SqFt
Status Active
MLS # 6721969
Property Type Single Family Residence
Price Type --
Welcome to the desirable Ahwatukee Foothills Club West! Step into this beautifully upgraded 5 bedroom home that immediately feels inviting, functional and spacious. Bedroom and full bathroom downstairs. Three separate living spaces including formal, family room and loft area. Open kitchen with granite counters, stainless steel appliances, gas range, and large island. 4 generously sized bedrooms and convenient laundry room upstairs. Primary bedroom with large closet & beautiful walk-in shower. Newer Pergo waterproof laminate flooring throughout! Enjoy the refreshing play pool with Baja shelf & table/umbrella stand, surrounded by travertine tile. Misters, pergola and artificial turf are a plus!. Great schools including highly accredited Kyrene Altadena! Transferable HVAC maintenance plan.

3424 E Wyatt Way Gilbert, AZ 85297

$640,000
5 Beds
2.5 Baths
3,094 SqFt
Status Active
MLS # 6731650
Property Type Single Family Residence
Price Type --
PRICE REDUCED!! HOME IN GILBERT'S DESIREABLE SAN TAN RANCH! 2 story, open concept floorplan with 5 Bedrooms +a huge Loft. Freshly painted interior with updated wood look tile throughout. The upgraded bright, white, eat in Kitchen has newer marble counters, stainless appliances with gas range & hood, farmhouse sink, island, custom tile backsplash, pantry & opens to spacious Great Room. Huge 1st level primary bedroom with separate door to backyard pool! Entertain guests in the Formal Dining Room. Upstairs find an enormous Loft & 4 very spacious Bedrooms with Hall Bath. Sparkling pool with water feature finishes off this great family home. Just needs a little more TLC & you will have an exceptional family home in a great Gilbert location for a value price!

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