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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4636 E Tierra Buena Lane Phoenix, AZ 85032

$639,900 - 3Br/3Ba -  for Sale in Alcantara Villas Replat, Phoenix
Open House
New
$639,900
3 Beds
2.5 Baths
2,020 SqFt
Status Active
MLS # 6783271
Property Type Single Family Residence
Price Type --
Welcome to this stunning 3-bedroom, 2.5-bath home packed with features to make it the dream home you've been searching for! Spanning 2,020sf., every inch of this thoughtfully designed space offers a blend of comfort, convenience and style. Step into the bright, open kitchen, which overlooks a spacious great room - ideal for entertaining! The kitchen features a large gourmet island, quartz counters, sleek stainless steel appliances, white cabinetry and a timeless subway tile backsplash. Throughout the downstairs and bathrooms, enjoy modern tile and light wood LPV in all the bedrooms and loft which blend seamlessly to enhance the modern aesthetic - NO CARPET! Freshly painted walls (all downstairs and loft area) and stylish Fanimation 52-inch fans on both levels further elevate... the home's polished, move-in-ready appeal. Entertainment options continue upstairs in the loft area that has been transformed into a custom-designed movie room, featuring a 120-inch screen, BenQ projector, Dolby Atmos in-wall and ceiling speakers, and a Marantz audio cabinet with high-end amplifier equipment. Sink into the cozy Lovesac lounger (Included!) and enjoy family movie nights or entertain friends in style. Stay comfortable year-round with smart climate controls, including a Nest thermostat and an 18,000 BTU Mr. Cool mini-split AC in the primary bedroom - perfect for those that love to sleep cool! The two-car garage is also an organizational dream with epoxy-coated floors, ceiling storage, and a 220V outlet for electric vehicles or workshop equipment. The backyard is designed for easy living, with pavers and synthetic turf that keep maintenance low and create the perfect setting for BBQs and relaxation! The community also features a sparkling pool, walking paths, and more, adding to the lifestyle appeal. Ideally located near premier shopping, dining, and entertainment destinations such as Desert Ridge, Kierland Commons, Scottsdale Quarter, and the newly renovated PV Mall, this home offers an unmatched combination of luxury, convenience, and community. Don't miss your chance to make this stunning property your forever home!

2614 N 15th Street Phoenix, AZ 85006

$639,900 - 3Br/3Ba -  for Sale in Maxwelton Tract Lots 8 Thru 22, Phoenix
Open House
$639,900
3 Beds
2.5 Baths
1,972 SqFt
Status Active
MLS # 6735434
Property Type Single Family Residence
Price Type --
This exceptional home offers quality and low-maintenance living in the heart of Coronado. Completely rebuilt in 2016, the home was taken down to the studs and updated with all-new electrical, plumbing, insulation, and premium finishes throughout. The thoughtfully designed floor plan includes an inviting library with raised ceilings and floor-to-ceiling bookshelves, a spacious primary suite with vaulted ceilings and a luxurious en suite bath, and a gourmet kitchen equipped with a breakfast bar, pantry, and high-end AGA range. Modern upgrades include dual HVAC systems with WiFi thermostats, energy-efficient dual-pane windows, hardwood flooring, a tankless water heater, and a robust whole-house water filtration system. Additional features include a dedicated laundry room, an upgraded garage with a 220V line for EV charging, hanging storage, and extra outlets. Enjoy entertaining on the wraparound porch amidst lush landscaping, including fruit-bearing trees and large shade trees, or retreat to the custom-designed great room with a hardwood bar and ample amenities. With paid-off solar panels, an average electric bill of only $120, and a prime location near parks, restaurants, and the Oak Street Alley Murals, this home offers the perfect blend of charm, convenience, and efficiency. Don't miss out on this standout property, recently featured in the 2024 Coronado Home Tour!

17425 W Tara Lane Surprise, AZ 85388

$639,900 - 4Br/2Ba -  for Sale in Surprise Farms, Surprise
Open House
$639,900
4 Beds
2 Baths
2,185 SqFt
Status Active
MLS # 6737950
Property Type Single Family Residence
Price Type --
Seller is offering a $10,000 credit toward rate buy-down or closing costs with a full-price offer! This stunning, one-of-a-kind home has been fully remodeled with over $100K in upgrades, making it an entertainer's paradise! Located on a massive 12,000 sq ft lot, enjoy your private pool and spa in a resort-like setting. The home features 4 spacious bedrooms, 2 luxurious baths, a versatile bonus room, and a secured large dog run with a convenient doggie door for your furry friends. Host gatherings in the fabulous great room with bifold doors that seamlessly open to the outdoors, a formal dining room, and an eat-in kitchen perfect for entertaining. Step outside to find a built-in BBQ under a stylish shade structure, a putt-putt green, and a pergola with a projection system for games or.... family movie nights. The backyard is the ultimate retreat for both relaxation and entertainment! This home truly has it all.

4072 E Las Colinas Drive Chandler, AZ 85249

$639,900 - 3Br/3Ba -  for Sale in La Valencia, Chandler
Open House
$639,900
3 Beds
2.5 Baths
2,220 SqFt
Status Active
MLS # 6766016
Property Type Single Family Residence
Price Type --
Built in 2022, this stunning single-level home offers 3 bedrooms, 2.5 baths, and a spacious 2,220 sq ft layout. The open-concept design features a gourmet kitchen with white shaker cabinets, quartz countertops, and a large eat-up island. Enjoy seamless indoor-outdoor living with a 20' multi-panel sliding glass door opening to a private courtyard. The master suite also includes a sliding door to the courtyard, a tiled shower, and a large walk-in closet. 10 ft ceilings throughout home. Recent upgrades includes motorized roller shades for 20' sliding door and custom shutters throughout home. Don't miss the community pool, playground, and green spaces. This home is the perfect blend of style, comfort, and convenience!

18321 E Spring Valley Court Rio Verde, AZ 85263

$639,854
2 Beds
2 Baths
1,678 SqFt
Status Active
MLS # 6765037
Property Type Single Family Residence
Price Type --
Welcome to this beautiful home in the Resort Collection at Trilogy at Verde River. The Valletta offers a well-thought-out layout with 2 bedrooms, 2 bathrooms, and an open office. The great room has a multi-slide glass door. You will love the Gourmet Chef kitchen with stainless steel wall appliances. The back patio is expansive with pavers and an extended patio. The primary suite has a lavish ensuite with a huge tiled shower and walk-in closet. Do not miss out on this home The amenities at Verde River are World Class with Tom Lehman inspired eighteen-hole Golf course, tennis courts, pickleball courts, and bocce ball, heated lap pool and Resort style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails.

14376 W Corrine Drive Surprise, AZ 85379

$639,711 - 4Br/3Ba -  for Sale in Marley Park Parcels 17 And 18, Surprise
New
$639,711
4 Beds
3 Baths
2,618 SqFt
Status Active
MLS # 6784276
Property Type Single Family Residence
Price Type --
Welcome to this beautifully upgraded 4BR, 3BA home that combines comfort and easy lifestyle. Step inside to discover a bright and open floorplan that offers a seamless flow between the living, dining, and kitchen areas, perfect for both everyday living and entertaining. The heart of the home is the large, updated kitchen featuring a generous island that serves as both a cooking space and a gathering hub. With plenty of cabinetry, modern finishes, and high-end appliances, this kitchen is a chef's dream. The spacious master suite is a true retreat, featuring a custom-designed walk-in closet and a separate dressing room that provides both ample storage and a touch of luxury. The ensuite bath offers a relaxing spa like space. Step outside into the beautifully landscaped backyard, an ideal setting for outdoor gatherings or simply unwinding in a private oasis. Whether you're enjoying the lush landscaping or entertaining guests, the backyard offers a perfect backdrop for every occasion. Other highlights include three additional well-sized bedrooms (one used as an office). Extensive upgraded security system and solar system owned. No expense was spared in making this home exceptional and a MUST SEE! Don't miss the opportunity to own this incredible home.

20654 E Avenida Del Valle -- Queen Creek, AZ 85142

$639,651
4 Beds
3 Baths
2,474 SqFt
Status Active
MLS # 6781616
Property Type Single Family Residence
Price Type --
MLS#6781616 January Completion! The Cambridge is a single-story floor plan at Ellsworth Ranch Landmark, offering 2,474 sq. ft. of living space with 4 bedrooms, 3 bathrooms, a 2-car garage, and an exercise/flex room. The welcoming porch greets you at the front of the house. Upon entering, the foyer leads you down a hallway with secondary bedrooms and 2 full bathrooms on one side and a laundry room on the other. Continuing straight, you'll arrive at the spacious, open kitchen, great room, and dining area—a space sure to capture your heart. Structural options include: alternate extended laundry with drop zone in lieu of tandem. This home sale includes a washer and dryer!

19973 N Half Moon Drive Surprise, AZ 85374

$639,500
2 Beds
2.5 Baths
2,732 SqFt
Status Active
MLS # 6764824
Property Type Single Family Residence
Price Type --
Picture yourself hosting gatherings in this spacious & versatile 2,732 sf Ironwood Estate.Discover a seamless flow between the living room, dining area, family room & kitchen, creating a perfect space for relaxing or entertaining.Gourmet kitchen with built in ovens, island, an abundance of counter top space, ample cabinets, walk in & butlers pantry.Primary ensuite retreat has a double vanity, soaking tub & walk-in shower.Cozy guest suite ensures your guests feel welcome & comfortable.Retreat to the comfort of the den for a good read.Inside utility room with sink,cabinets & W/D included. Shutters on many windows.2.5 car garage.Expansive 11, 891 square foot lot provides endless possibilities for creating your outdoor oasis.Save on utilities with Solar.Quality furnishing available separate.

3408 W Via Del Deserto -- Phoenix, AZ 85086

$639,500
4 Beds
3 Baths
3,011 SqFt
Status Active
MLS # 6763352
Property Type Single Family Residence
Price Type --
Pride of ownership shows in this beautiful home located in the desirable Tramonto subdivision. This home sits on a premium lot with common area to the East and North. One of the 4 bedrooms is on the lower level making a great office, guest suite or playroom. The large loft works also works great for those work-from-home individuals. The exterior of the home has a fresh coat of paint, and the entire home has been meticulously maintained by the original owners. Location in the community is perfect and in walking distance to school for your k-8th graders. You don't want to miss this great opportunity!!

18861 E Blue Sky Drive Rio Verde, AZ 85263

$639,500
2 Beds
2 Baths
1,380 SqFt
Status Active
MLS # 6702241
Property Type Single Family Residence
Price Type --
This home is beautiful! Located in the highly sought after, Tonto Verde Country Club-Gated Community (2 Courses). Home features: 12-foot ceilings, impressive (Iron) front entry door, SS appliances, white cabinets and granite counter tops throughout home, large island w/ a breakfast bar, farm sink, open kitchen/dining and living room, split bedrooms, light paint colors, beautiful tile floors, additional storage (laundry room) and even parking for your Golf Cart! The backyard boasts a large travertine (Paver'd) patio, newly installed patio sunshade, a view fence overlooking the golf course. A true Arizona lifestyle, the backyard is beautifully landscaped and is close to Tonto National Forest. Move right in and enjoy! TURN-KEY! Quick close possible.

1906 W Lariat Lane Phoenix, AZ 85085

$639,000
3 Beds
2.5 Baths
2,567 SqFt
Status Active
MLS # 6761420
Property Type Single Family Residence
Price Type --
Gorgeous home looking for a new owner! Welcoming great room with abundant natural light, wood-style tile floors, a powder room, and modern light fixtures. The open-concept kitchen includes stainless steel appliances, popular white cabinets, an island with a breakfast bar, and granite counters. Continue upstairs to find a spacious loft for entertainment and 3-sizable bedrooms! The main retreat has a bathroom with a glass enclosure shower, dual sink vanity w/makeup area, and a walk-in closet. Outside, relax under the covered patio or lovely front porch. Don't miss the 2-car rear garage. Light tree-lined streets, pedestrian-friendly sidewalks, and a recreation center with a resort-style pool, kiddie pool, gathering areas, etc. A must-see property!

41216 N Prestancia Drive Anthem, AZ 85086

$639,000
3 Beds
2 Baths
2,082 SqFt
Status Active
MLS # 6764616
Property Type Single Family Residence
Price Type --
Fall in love with this wonderfully upgraded and updated Telluride model in Anthem Country Club. Wonderful floor plan with multiple entertaining spaces. Enter the home from the front courtyard to a cozy living room and formal dining room. Kitchen has it all with tons of cabinets, beautiful granite counter tops and awesome island/breakfast bar. Main bath has been remodeled and is a must see and the secondary bath has granite counters and dual sinks. The family room off the kitchen and is where everyone hangs out and you can exit to the wonderfully landscaped backyard with built in BBQ and beautiful golf, mountain and sunset views awaiting you!! This home is the perfect size for full time living or locks and leave for the summer. Cozy up to the outdoor fireplace on an elevated patio to watch the magical AZ Sunset! WELCOME HOME! Anthem Country Club is home to two 18 hole championship golf courses with two restaurants, 2 work out rooms, 2 pools, tennis, pickle ball, bocce ball and lots of fun people!

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