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.”

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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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4259 W Jasper Drive Chandler, AZ 85226

$639,000
3 Beds
2.5 Baths
2,272 SqFt
Status Active
MLS # 6766947
Property Type Single Family Residence
Price Type --
This diamond in the rough 3-bedroom, with an office that can be made into a 4th bedroom 2-bathroom, with a powder room and a pool in Chandler is waiting for your updates! The well-maintained property offers comfortable living spaces, a functional layout, and a convenient location just minutes from shopping centers, the 10 & 101 freeways, and the airport. This is the perfect opportunity to own a home in a vibrant and accessible community.

1111 N High Point Drive Prescott, AZ 86305

$639,000
1 Bed
1 Bath
960 SqFt
Status Active
MLS # 6776096
Property Type Single Family Residence
Price Type --
Escape to this beautifully remodeled cabin in the serene pine setting of Highland Pines, where tranquility awaits. This charming one-bedroom, one-bath retreat offers an open floor plan, making the most of its cozy footprint. Inside, you'll find the tongue and groove beamed ceiling complemented by new wood flooring throughout, creating a warm and inviting atmosphere. The top-of-the-line chef's kitchen includes quartz counters, built-in shelf microwave and a professional KUCHT range with double ovens and. The great room opens to the deck through three glass folding doors, allowing natural light to pour in. The bathroom, completely renovated with a new bidet featured toilet and high-end marble subway-tile wainscotting and shower surround. The expansive deck provides amazing, sweeping views. The unobstructed views of the Prescott National Forest and Thumb Butte, offers the perfect spot for outdoor relaxation and entertaining. The home also boasts a newer roof for added peace of mind. A major bonus is the newly installed alternate septic system, which is designed to accommodate an additional two bedrooms and another bath. Whether you choose to expand with a single-level addition or explore a split-level or multi-level design, the spacious homesite offers flexible options for future growth. This property is easily accessible via paved roads and is served by a private water company, eliminating any concerns about water supply. For the right buyer, this is an incredible opportunity to own a piece of paradise with endless potential to make it your own.

1834 N Mitchell Street Phoenix, AZ 85006

$639,000
3 Beds
2 Baths
1,218 SqFt
Status Active
MLS # 6775620
Property Type Single Family Residence
Price Type --
This historic bungalow is truly as good as it gets, and on one of the best streets in Coronado Historic District. The original 1937 bungalow has been carefully preserved, but just about all the major systems have been recently upgraded to modern (over $120K). The house is cozy, but flows bigger with the original two bedrooms and bath on the front side of the house, and the split addition of the master suite on the rear. The front room features updated floors (2024), fireplace and gorgeous light. Modern kitchen features custom cabinets, exposed brick wall and all new appliances. Completely remodeled master suite. OWNED SOLAR!!! Multiple hospitals close by as well as close to freeways, Downtown Phx and much more.

1903 E Ayden Court Payson, AZ 85541

$639,000
3 Beds
2 Baths
1,610 SqFt
Status Active Under Contract
MLS # 6757095
Property Type Single Family Residence
Price Type --
Nestled in the highly sought-after, newer subdivision of Chaparral Vista, in a peaceful cul de sac located off Tyler Parkway. This stunning brand-new all electric home boasts 3 spacious bedrooms and 2 luxurious bathrooms, designed with modern elegance and functionality in mind with too many upgrades to list here. To see a full list see documents. The wrap-around deck is a standout feature, providing an ideal setting for outdoor entertaining or simply relaxing while enjoying the serene surroundings. Inside, every detail has been meticulously curated with high-end upgrades that elevate the living experience. The open-concept floor plan seamlessly connects the living, dining, and kitchen areas, creating a perfect space for both everyday living and special gatherings. The kitchen is a chef's delight, featuring state-of-the-art KitchenAid appliances, sleek quartz countertops, and custom cabinetry. The master suite is a tranquil retreat, complete with a beautifully appointed en-suite bathroom featuring premium fixtures and finishes. The additional bedrooms are generously sized, offering comfort and versatility for family, guests, or a home office. With its blend of contemporary design, thoughtful upgrades, and a picturesque wrap-around deck, this home in Chaparral Vista offers an exceptional living experience. Buyer to verify property taxes with Gila County.

7146 W Emile Zola Avenue Peoria, AZ 85381

$639,000 - 5Br/2Ba -  for Sale in Tierra Norte 2 Lot 57-114, Peoria
New
$639,000
5 Beds
2 Baths
2,668 SqFt
Status Active
MLS # 6784081
Property Type Single Family Residence
Price Type --
Priced to SELL! This stunning, single-level, 5-bedroom home is nestled in a prime Peoria location with no HOA and a fantastic, family-friendly atmosphere. Boasting an open floor plan on an expansive lot, the home offers vaulted ceilings and a desirable split layout—perfect for privacy, with the main bedroom suite thoughtfully separated from the other bedrooms. The northern exposure provides a shaded, private backyard oasis, ideal for entertaining, relaxing, or even setting up a potential short-term rental. Families will appreciate the proximity to top-rated schools and quick access to shopping, dining, and local events. Move-in ready and waiting for your personal touch!

10498 E Cochise Avenue Scottsdale, AZ 85258

$639,000
2 Beds
2 Baths
1,781 SqFt
Status Active
MLS # 6735402
Property Type Townhouse
Price Type --
This 55+ neighborhood is in a fantastic location with proximity to Via Linda Senior Center, Scottsdale Ranch Park Tennis Club, 101 and shopping! This 2 bedroom 2.5 bath home has vaulted ceilings and skylights everywhere! There is so much natural light! The totally split floorplan makes it great for guests and the additional room could be converted to a third bedroom! There is a large inside laundry with room for folding and two car garage with built -in cabinets for your collectibles! The community has two beautiful pools and tennis courts for your enjoyment. This home is priced to sell and ready for all your personal touches. Come see this home today!

1700 E Lakeside Drive Unit 58 Gilbert, AZ 85234

$639,000
3 Beds
3 Baths
2,517 SqFt
Status Active
MLS # 6753691
Property Type Townhouse
Price Type --
Spacious home with courtyard entry in gated resort community of Val Vista Lakes! TWO PRIMARY SUITES plus another bedroom and LOFT! One primary suite w/remodeled bathroom downstairs and other primary suite w/ bathroom upstairs. 3rd bdrm is downstairs next to remodeled hall bath. Vaulted high ceilings as you enter with a spacious living area and views to the back patio. Luxury vinyl wood flooring throughout the downstairs, carpet on stairs and upstairs area. Fresh looking kitchen with white cabinetry & countertops, and farm sink with views to courtyard. Large eat in kitchen area too! This home is ideally located just steps away from the clubhouse and you can walk to the ramada and enjoy views of the lake! Living in Val Vista Lakes is resort style living with all the amenities it offers!

2801 E Osborn Road Phoenix, AZ 85016

$639,000
3 Beds
2.5 Baths
2,110 SqFt
Status Active
MLS # 6761770
Property Type Single Family Residence
Price Type --
This cute home is located in the vibrant Arcadia Lite neighborhood of Phoenix! This property sits on a large lot with ample on-site parking behind a secure remote-controlled gate. Inside, the home feels cozy and inviting with a large living room, featuring an updated kitchen with modern finishes and convenient bar seating, perfect for casual dining or entertaining guests. The extended garage has AC & includes a built-in workbench area, ideal for car enthusiasts or hobbyists. Enjoy the convenience of being in the heart of Arcadia Lite, just minutes from popular dining, shopping, and entertainment. This property offers the perfect blend of comfort, functionality, and prime location!

6735 N 10th Street Phoenix, AZ 85014

$639,000
3 Beds
2 Baths
1,703 SqFt
Status Active
MLS # 6763810
Property Type Single Family Residence
Price Type --
Vintage meets contemporary in this delightful home in the heart of north central Phoenix. Remodeled in 2019 to add new A/C, electrical panel, and all new kitchen, complete with stainless steel appliances and soft close modern cabinetry. Tons of additional upgrades added over the last 3 years, including new epoxy sewer lining, lighting/fans, roman shades, paint, baseboards, contemporary black door hardware, storage shed, block fence, side gate & front door. Abundant natural light throughout the home through efficient dual-pane windows. Huge great room with vaulted ceilings and built in fireplace. Dreamy primary suite has 2 closets including a spacious luxury walk-in. Mature fruit trees grace the private, quiet back yard, with the perfect patio for entertaining. Top rated schools.

8608 E Mariposa Drive Scottsdale, AZ 85251

$639,000
3 Beds
2 Baths
1,688 SqFt
Status Active
MLS # 6769267
Property Type Single Family Residence
Price Type --
LOCATION LOCATION LOCATION, This couldn't be better. High demand neighborhood with no HOA. Move in ready, freshly painted, lovely flooring, large bedrooms, facing north/south. Grassy area in backyard, RV Gate for all your toys. Close to Chaparral Park with lake, walking and bike paths dog park. Minutes to Scottsdale Fashion Square as well as Old Town Scottsdale, and EASY ACCESS to 101.

4297 E Bernice Street Gilbert, AZ 85295

$639,000
3 Beds
2 Baths
1,815 SqFt
Status Active
MLS # 6773956
Property Type Single Family Residence
Price Type --
This beautiful Capital Plan, 1815 sf single story home is a beautifully laid out with 3, bedrooms, open study with 2 baths. With a spacious great room with open gourmet kitchen. The master bedroom has a French door opens to a large covered patio and features a large walk in closet and a beautifully appointed master bath highlighted by a gorgeous spa shower. Beautiful plant tile flooring shows off the wonderful great room which opens to the outside with an all expansive 16'' atrium glass door. The gourmet kitchen features upgraded 42'' upper style cabinets with crown molding. The granite countertops are highlighted by the upgraded full tile backsplash. This beautiful home is amazing- shows like a dream!

4010 S Big Horn Place Chandler, AZ 85249

$639,000 - 4Br/3Ba -  for Sale in Old Stone Ranch Phase 2, Chandler
Open House
$639,000
4 Beds
3 Baths
2,569 SqFt
Status Active
MLS # 6777912
Property Type Single Family Residence
Price Type --
If you're in search of a home that combines a fantastic location inside the beautiful tree lined community of Old Stone Ranch, you're in luck! This loved home features 4 beds 3 full baths,+ den w/glass French doors. Cozy upstairs loft (w/full bed & bath up). Inviting kitchen opens to great rm Newer Samsung refrigerator, large island with granite counters and tons of storage through out. The oversized laundry rm has both upper and lower cabinets & even space for crafting. Low maintenance desert landscape front yard, private backyard backing greenbelt boasts artificial lawn, mature trees offer evening shade + sitting area. Equal distance to downtown Chandler and Gilbert with quick access to the 202 San tan freeway & outdoor shopping mall. Welcome home to your sanctuary!

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