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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3775 S Danyell Drive Chandler, AZ 85286

$640,000 - 4Br/2Ba -  for Sale in Saguaro Canyon, Chandler
Open House
$640,000
4 Beds
2 Baths
2,046 SqFt
Status Active
MLS # 6769582
Property Type Single Family Residence
Price Type --
At over 2000 sf, this 4 BR, 2 BA home feels like a peaceful garden paradise from the inside out! Enjoy the beauty of Travertine tile flooring laid in a special Windsor Versailles pattern and wood laminate t/o; soaring ceilings, plantation wood shutters/blinds, custom paint, lighting, ceiling fans, Tuscan iron security doors at front entry and to back patio, solar tubes in gathering room and guest bath for added natural light and upgraded baseboards. Renewal by Andersen energy-efficient windows installed on south side to keep you comfortable and help with lower utility bills. Outside, a refreshing Pebble Tech California Pool (built only 3 years ago) awaits you with a Baja shelf for lounging/wading/kids play and LED lighting with remote for fun and calming color effects. Separate hot tub, lush landscaping, slate pavers and a variety of fruit trees complete this calming outdoor space. Back inside, gather and cook in the kitchen with the added 8' island, granite counter tops, pendant lighting, SS appliances incl a 2023 French door, two drawer Whirlpool fridge, RO system (connected to fridge/ice), trash pull-outs and pantry. There are two spacious living/dining areas; primary bedroom with bay windows, ensuite with garden tub, shower and walk-in closet: three add'l bedrooms, guest bath with Travertine surround in shower/tub and granite vanity, laundry room with upgraded washer and dryer. Built-in cabinets and pull-down ladder in garage. Trane HVAC and roof regularly maintained. Saguaro Canyon in South Chandler offers tot lots, dog stations, ramadas, shade trees, paths and greenbelts. Highly rated year-round Chandler Schools, tasty eateries, shopping, dog parks, and the San Tan 202 Freeway is minutes away!

6334 E Viewmont Drive Unit 46 Mesa, AZ 85215

$640,000 - 3Br/2Ba -  for Sale in Parcel 5 At Red Mountain Ranch, Mesa
Open House
$640,000
3 Beds
2 Baths
1,978 SqFt
Status Active
MLS # 6768584
Property Type Single Family Residence
Price Type --
Looking for a peaceful escape in Mesa's sought-after Red Mountain Ranch? This immaculate 3-bed, 2-bath home offers a perfect blend of tranquility & convenience. Nestled on a private north/south-facing hillside lot, this property boasts a resort-style backyard complete with a sparkling pebble-finish pool (recoated in 2024). Inside, enjoy the airy feel of soaring ceilings, ceramic tile floors throughout, and ample living space. The large Primary Suite includes double sinks, a separate shower and tub. With recent upgrades like a new AC (2021) and fresh paint, this home is move-in ready! Set in a gated community, you'll enjoy stunning mountain views and easy access to the 202, placing shopping, dining, and outdoor recreation right at your fingertips. Explore the nearby Usery Mountain trails, or experience the perks of Red Mountain Ranch Country Club, featuring a championship Pete Dye golf course, tennis courts, fitness center, and more (with optional membership). Outdoor enthusiasts will love the proximity to Tonto National Forest, offering hiking, mountain biking, paddle boarding, and boating. With the Salt River and Saguaro Lake just minutes away, adventure awaits! Don't miss out on this serene Arizona retreat!

2242 W Myrtle Drive Chandler, AZ 85248

$639,999
3 Beds
2.5 Baths
2,241 SqFt
Status Active
MLS # 6747941
Property Type Single Family Residence
Price Type --
Located in the heart of the desirable Ocotillo area, this amazing home on the double fairway offers stunning views of an award-winning golf course & your private heated spa with a waterfall. Featuring 3 bedrooms plus a loft, this home has been freshly painted inside and out using premium paint. The first floor boasts newly installed modern and durable 12mm-thick waterproof vinyl flooring, while the upstairs is outfitted with brand-new carpeting and elegant wooden shutters throughout.The gourmet island kitchen is a chef's dream, featuring classic cabinets, granite countertops, and a stylish tile backsplash. Additionally, the garage is equipped with ample storage cabinets, ceiling shelves overhead, board wall organizers, and a work station, ensuring all your organizational needs are met.

12733 W Banyan Drive Sun City West, AZ 85375

$639,995
4 Beds
3 Baths
2,890 SqFt
Status Active Under Contract
MLS # 6759547
Property Type Single Family Residence
Price Type --
Welcome to your Sun City West 4 bedroom, 3 bathroom oasis! Are you looking for 2 master suites, golf course lot, split floorplan & a fully updated home? We got all that for you and more! Enjoy coming home and entertaining in your gorgeous kitchen with an oversized island that is open to your dining room & family room. Soft close cabinetry. Dual sided fireplace compliment living spaces and give a gorgeous focal point. Luxury vinyl plank flooring throughout home. Bathrooms have fantastic upgrades including stunning tile, cabinetry & fixtures. 2 car garage with attached cabinets. New roof. Dual pane windows. Come see all the home & community have to offer!

37627 W Padilla Street Maricopa, AZ 85138

$639,990
4 Beds
3.5 Baths
3,240 SqFt
Status Active
MLS # 6704039
Property Type Single Family Residence
Price Type --
Introducing luxury living, Maricopa! Step into the allure of this Sedona floorplan, offering both a versatile activity room and a convenient home office. Your expansive gourmet kitchen boasts stacked cabinetry, buffet-style lowers, a gas cooktop, and double ovens for culinary perfection. Unwind in your luxurious freestanding tub, entertain on the patio, or store your belongings in the spacious THREE CAR GARAGE! Discover why K. Hovnanian stands as the epitome of Lasting Value in homebuilding. Don't miss your chance to move into this home now! Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

11510 E Utopia Avenue Mesa, AZ 85212

$639,990
4 Beds
3.5 Baths
2,800 SqFt
Status Active
MLS # 6761333
Property Type Single Family Residence
Price Type --
''Welcome to the Garnet at Destination at Gateway in East Mesa. This modern desert home features 4 bedrooms, 3 ½ bathrooms, and 2 dens. Enjoy soaring 10-foot ceilings, 8-foot doors, and a gourmet kitchen with a 36-inch gas cooktop, wall oven, built-in microwave, and refrigerator. The kitchen boasts white shaker cabinets with champagne bronze hardware, quartz countertops, and a tile backsplash. The open great room leads to a covered patio through a 4-panel sliding glass door. This home also includes washer and dryer, and features wood-look tile throughout. ''

5824 E Rose Garden Lane Phoenix, AZ 85054

$639,990 - 3Br/3Ba -  for Sale in Talinn Phase 3, Phoenix
Open House
$639,990
3 Beds
2.5 Baths
1,962 SqFt
Status Active
MLS # 6781856
Property Type Townhouse
Price Type --
A brand-new quick move-in home!! Discover the perfect blend of comfort and convenience in this stunning 3-bedroom, 2.5-bathroom townhome. With no neighbors behind, you'll enjoy unparalleled privacy and tranquility. Inside, the sleek quartz countertops, crisp white cabinetry, and elegant light grey wood-like porcelain tile create a modern, sophisticated atmosphere throughout. These highly sought-after homes are selling quickly, offering an ideal ''lock-and-go'' lifestyle. Just steps away from City North and Desert Ridge Market Place, and only minutes from the 101 freeway, this location provides the perfect balance of serene living and easy access to all the vibrant amenities the area has to offer. Don't miss your chance to make this exceptional home yours! Pictures coming Soon!

37520 W Padilla Street Maricopa, AZ 85138

$639,990 - 4Br/4Ba -  for Sale in Rancho Mirage 23, Maricopa
Open House
$639,990
4 Beds
3.5 Baths
3,240 SqFt
Status Active
MLS # 6695735
Property Type Single Family Residence
Price Type --
Rancho Mirage 23 offers new single-family luxury homes in the fast-growing city of Maricopa, with access to neighborhood parks, walking paths and a community fishing lake. This incredible single-story home features 3,240 square feet, a tandem 3-car garage and 10' ceilings. The kitchen is decked out with stacked cabinetry, gourmet appliances and quartz countertops. The split floorplan is perfect for a family with 3 of the bedrooms adjacent to the Activity Room. Ready for immediate move-in! ^^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

37565 W Padilla Street Maricopa, AZ 85138

$639,990 - 4Br/4Ba -  for Sale in Rancho Mirage 23, Maricopa
Open House
$639,990
4 Beds
3.5 Baths
3,240 SqFt
Status Active
MLS # 6699191
Property Type Single Family Residence
Price Type --
Welcome to luxury, Maricopa! It's time we embrace the magnificence of new home construction previously seen in Scottsdale and the East Valley. Introducing the captivating Sedona floorplan, offering both a flexible activity room and a media room to suit your lifestyle. Your expansive gourmet kitchen is adorned with stacked cabinetry, buffet-style lowers, a gas cooktop, and double ovens. Retreat to your indulgent Ultra Spa Shower, entertain on the patio, or access your recreational gear from the THREE CAR GARAGE! Ready for immediate Move-In! ^^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

11464 E Utah Avenue Mesa, AZ 85212

$639,990
3 Beds
2.5 Baths
2,702 SqFt
Status Active
MLS # 6761747
Property Type Single Family Residence
Price Type --
Welcome to the Sunstone floorplan in East Mesa's Destination at Gateway. This craftsman-style home offers 3 bedrooms, 2.5 baths, and an additional teen room. It features 10-foot ceilings, 8-foot doors, and a 4-panel sliding glass door connecting the great room to the covered patio. The gourmet kitchen includes a 36'' gas cooktop, wall oven, built-in microwave, butler's pantry, charcoal-stained shaker cabinets, quartz countertops, and designer tile backsplash. Main areas have wood-look tile, with upgraded carpet in bedrooms. The primary bath boasts an enlarged shower, soaking tub, and matte black fixtures throughout.

6061 S Oxley -- Mesa, AZ 85212

$639,990
4 Beds
3 Baths
2,071 SqFt
Status Active
MLS # 6719560
Property Type Single Family Residence
Price Type --
''Have you ever walked through a model home and wished you could buy it exactly as is? Well, here is your chance, our stunning Aster MODEL HOME is now available for your purchase! Imagine yourself living in a beautiful, sun-kissed retreat, where every detail has been carefully crafted to create a warm and inviting atmosphere. Our stunning model home is a true masterpiece, boasting 2071 square feet of luxurious living space. As you step inside, you'll be greeted by the warmth of rich tile flooring, perfectly complemented by the plush carpet in the bedrooms and den. The elegant 42'''' white shaker cabinets with matte black hardware add a touch of sophistication, while the expansive windows allow natural light to pour in and illuminate the space. With its sleek panel center slide and breathtaking views, this outdoor oasis is the perfect spot to relax and unwind. This home is also situated on a perfect lot location facing the greenbelt to soak in all the stunning Arizona sunsets! d. This incredible home includes all the upgrades you've been dreaming of, including a washer, dryer, and a refrigerator! It's truly move-in ready! Don't miss out on this rare opportunity to own a piece of paradise.

17139 W Hackamore Drive Surprise, AZ 85387

$639,945
4 Beds
3 Baths
2,660 SqFt
Status Active
MLS # 6771863
Property Type Single Family Residence
Price Type --
MLS#6771863 January Completion! Experience the perfect blend of multigenerational living in this thoughtfully designed home. Step through the inviting porch and into the foyer, where you'll find a separate wing featuring three bedrooms, a private multi-gen living area, two bathrooms, and a one-car garage with its own dedicated entry. As you move further inside, a formal dining room sits across from a powder room and a laundry area, along with access to the two-car garage. At the heart of the home, the open-concept design showcases a spacious great room seamlessly connected to a kitchen with an island, casual dining space, and covered outdoor living. The primary suite is tucked away for privacy complete with a spa-inspired bathroom and a generous walk-in closet. Structural options include: paver front porch, garage service door, interior door at multi gen living suite, tile super shower at primary bath, and gourmet kitchen.

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