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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4616 E Peak View Road Cave Creek, AZ 85331

$638,000
3 Beds
2 Baths
1,743 SqFt
Status Active Under Contract
MLS # 6762545
Property Type Single Family Residence
Price Type --
Gorgeous Ryland Home in desirable Tatum Ranch! This sought after floor plan has 3 bedrooms, 2 baths, large living spaces and a 2-car garage. A feeling of spaciousness is created by the vaulted ceilings and lots of natural light. Travertine floors complement the main living areas. The open concept kitchen boasts a large island, a casual eating area, beautiful granite counters, tile backsplashes and stainless-steel appliances. Kitchen area flows seamlessly into the family room which has a built-in entertainment center. At the end of the day, one can retreat into the relaxing environment of the main bedroom with high ceilings, an all-tile walk-in shower, double vanity area and large closet. The nice-sized backyard is an oasis with an updated pool and north/south exposure. A must see!!!

7593 W Smoketree Drive Peoria, AZ 85383

$637,990
4 Beds
3 Baths
2,150 SqFt
Status Active
MLS # 6767735
Property Type Single Family Residence
Price Type --
Brand new community in North Peoria! This stunning single story home offers 2,150 sq ft of functional living space. It features 4 bedrooms, 3 bathrooms, den, and a 3-car tandem garage. The open concept kitchen is perfect for entertaining and features a large Island, walk-in pantry and stainless steel appliances with gas range. It also offers our Timeless Palette which includes white painted 42'' cabinets, ivory quartz kitchen countertops, arctic white kitchen backsplash, and 6x24 wood looking plank tile in all the common areas. The great room offers a 4-panel center sliding glass door so you can step out into your covered patio to enjoy indoor/outdoor living in your backyard with friends and family. Great location close to dining, freeways, parks, and entertainment!

5771 W Cinder Brook Way Florence, AZ 85132

$637,500
3 Beds
2.5 Baths
2,590 SqFt
Status Active
MLS # 6777576
Property Type Single Family Residence
Price Type --
JOURNEY TO RESORT STYLE LIVING w/ Private heated POOL & SPA!! Only the best w/ over $130k in builder upgrades featuring a Private Courtyard w/beautiful iron security gate & ornate glass door to designer tile entry & Plantation Shutters, Den w/ gorgeous French Doors, Chef Lux kitchen w/ Gas Cooktop & dbl ovens, Luxurious Black Stainless built-in appliances, u/c lighting, Pendant lighting over a spacious unpolished Granite Island, soft close staggered raised panel cabinets w/ Pots & Pans drawers, pull outs, tiled backsplash, spacious walk-in pantry & Butler's pantry. Owner's Suite features bowed window, stunning walk-in tile shower & Granitex vanities. 2 Guest Bedrooms w/ shared en-suite. Extended Patio w/ Pergola, Private Pool w/ Water Feature & Spa! Poston Butte Golf Course & Grille!!!

7933 E Queensborough Avenue Mesa, AZ 85212

$637,370 - 4Br/3Ba -  for Sale in Hawes Crossing Village 2 Parcel B Replat, Mesa
New
$637,370
4 Beds
3 Baths
2,358 SqFt
Status Active
MLS # 6783391
Property Type Single Family Residence
Price Type --
MLS#6783391 February 2025 Completion! The Paisley is a thoughtfully designed 2-story floorplan offering 2,358 sq. ft. of living space with 4 bedrooms, 3 bathrooms, a loft, and a 2-car garage. Perfect for hosting guests, the main level features a private bedroom and an open-concept great room, dining area, and kitchen that flow seamlessly into the outdoor living space, ideal for entertaining or relaxing. Upstairs, the versatile loft can be transformed into a playroom, home office, or secondary living area. The primary suite includes a walk-in closet and dual sinks for added convenience. We're confident you'll love calling the Paisley home! Structural options include: gourmet kitchen, soft water loop, pavers on porch and driveway.

4304 Stage Stop Way Wickenburg, AZ 85390

$637,000
2 Beds
2 Baths
1,969 SqFt
Status Active
MLS # 6742345
Property Type Single Family Residence
Price Type --
Discover the epitome of modern elegance in this nearly new Cypress model in Wickenburg Ranch. Meticulously updated with luxurious features, this home boasts fresh flooring in bedrooms and closets, a sleek gourmet kitchen with a large island, and a stunning sliding glass wall that opens to an expansive outdoor patio and backyard retreat. Enjoy outdoor living at its finest with a BBQ island and cozy firepit, all while backing to a serene wash for added privacy. With PAID SOLAR and a 3 CAR GARAGE, this home combines roominess and sustainability seamlessly.

6411 S River Drive Unit 10 Tempe, AZ 85283

$636,477
2 Beds
2.5 Baths
2,589 SqFt
Status Active
MLS # 6759930
Property Type Townhouse
Price Type --
Remodeled 2 bed 3 bath townhome in the Cottonwoods Community of 68 homes. This home has an open floor plan, lots of light, high ceilings, & lots of space for entertaining. Both bedrooms have en-suites & walk-in closets. New LVP flooring in traffic areas, new carpet in bedrooms and loft & new baseboards. Interior hardwood doors, new canned lighting, new interior & exterior paint. The kitchen has lots of counter space, hardwood cabinet doors & stainless appliances. There is a fireplace, bed 2 has a walkout patio, loft has an exterior Juliet balcony, & lots of storage. The backyard is large and updated, including new exterior wall paint & gate. Close to freeway, shopping & short drive to airport.

16978 W Canterbury Drive Surprise, AZ 85388

$636,461
3 Beds
3.5 Baths
2,870 SqFt
Status Active
MLS # 6728478
Property Type Single Family Residence
Price Type --
MLS #6728478 February 2025 Completion! Discover The Shire, a single-story floor plan in Paradisi Venture II. This home offers 2,870 sq. ft. with 3 bedrooms, 3.5 bathrooms, a 3-car split garage, and a study. Each bedroom has its own en suite bathroom, providing separate spaces for kids and guests. The open layout of the gathering room, kitchen, and dining room forms the heart of the home, perfect for hosting gatherings or family game nights. Create lasting memories, whether it's a cookout with friends or quality time with family. The owner's suite includes a spacious walk-in closet, split vanities, and a generous shower. Structural options include: interior door at laundry, gas line for future outdoor kitchen, garage service door, and chef's kitchen.

20941 E Via Del Sol Street Queen Creek, AZ 85142

$636,237 - 4Br/3Ba -  for Sale in Hastings Farms Parcel B, Queen Creek
Open House
$636,237
4 Beds
3 Baths
2,537 SqFt
Status Active
MLS # 6736382
Property Type Single Family Residence
Price Type --
WOW - PRICE REDUCED $7,500. IN ADDITION, SELLER CONSESSION AVAILABLE TOWARDS CLOSING COSTS OR RATE BUYDOWN with Rates as Low as 3.875% on this Quick Move-In Home When Financing Thru Builders Preferred Lender(s). Beautiful Cul-de-sac Home Located close to Queen Creek Market Place Shopping, Dining & Entertainment with Community Parks, Tot Lots, BBQ's, Basketball Courts, Soccer Field and Just Steps to the 8-Mile Walking Trail. All Appliances Including Stainless Refrigerator, Stainless Gas Cooktop, Dbl Wall Ovens, Microwave, Dishwasher, White Washer/Dryer. Too Many Beautiful Upgrades to List Here. Primary & Two Secondary Bedrooms Upstairs. One Secondary Bedroom and Full Bath Downstairs. Don't Wait, Come See This Home Today

14655 N Kings Way Fountain Hills, AZ 85268

$636,000 - 2Br/2Ba -  for Sale in Courtside Villas, Fountain Hills
New
$636,000
2 Beds
2 Baths
1,267 SqFt
Status Active
MLS # 6784020
Property Type Single Family Residence
Price Type --
BACK ON MARKET: Don't miss this cute 2 bedroom, 2 bath detached home plus bonus room in the Courtside Villas community. Features include vaulted ceilings, sliding doors to large covered back patio, private pool with water feature. Backyard is super private as it backs to a wash area. Kitchen features granite counters, SS Fridge & Stove and is open to the dining & living room. The Living room also has wood burning fireplace. Bonus room is currently being used as an office/den but could be used as a game room or Formal dining. You have options! Inside laundry room, attached garage with direct access. Home sits in the back of the community so super quiet. Perfect for lock & leave or full time residence.

23176 W Skinner Road Wittmann, AZ 85361

$635,000
4 Beds
2 Baths
2,242 SqFt
Status Active
MLS # 6731535
Property Type Single Family Residence
Price Type --
Highly upgraded 4 bedroom 2 bath 3 car garage on an Acre lot! NO HOA! This Beautiful home comes with Quartz counter tops, large center island, tile backsplash, built-in microwave, stainless steel hood, 8' doors and 4'' baseboards, designer tile and upgraded lighting. Split floor plan, 2 walk-in closets in Master.. Located in a very nice area just minutes from Surprise and Wickenburg.

7647 W Nosean Road Peoria, AZ 85383

$635,000
3 Beds
2.5 Baths
1,982 SqFt
Status Active
MLS # 6717910
Property Type Single Family Residence
Price Type --
MLS# 6717910 Ready Now! The Iris is a single-story home offering 1,982 sq. ft. of living space with 3 bedrooms, 2 bathrooms, a 2-car garage, and a versatile flex room. As the only single-story floor plan at Aloravita South Discovery, this home is designed to impress. The foyer leads to a hallway with secondary bedrooms and a full bathroom. Moving further into the home, you'll find the open kitchen, casual dining area, great room, and flex room. Enjoy Arizona's beautiful weather from your private covered patio. The primary suite features a private bathroom with double sinks and a spacious walk-in closet, making it the perfect retreat.

4199 E Strawberry Drive Gilbert, AZ 85298

$635,000 - 2Br/2Ba -  for Sale in Meadowbrook Village At Power Ranch 2, Gilbert
New
$635,000
2 Beds
2 Baths
2,045 SqFt
Status Active
MLS # 6783469
Property Type Single Family Residence
Price Type --
Stunning Upgraded ''Juniper'' Model in Trilogy at Power Ranch! Welcome to your fully furnished dream home in this vibrant 55+ Active Adult Community! This beautifully upgraded Juniper model boasts a perfect blend of elegance and comfort, featuring wood-look plank tile flooring throughout, stylish shutters, and more. As you approach, you're greeted by a charming courtyard adorned with pavers, setting the tone for what lies beyond. Step inside to discover an inviting open floor plan that effortlessly connects the spacious great room and dining area, perfect for entertaining friends and family. Chef's Delight: The gourmet kitchen is a true highlight, showcasing granite countertops, a stunning glass tile backsplash, stainless steel appliances, and pendant lighting that illuminates the space beautifully. Cozy Living Area: The great room is a welcoming space with a striking stacked stone accent wall, cozy fireplace, and large TV. Expansive windows offer picturesque views of your large, private backyard and covered patio, seamlessly blending indoor and outdoor living. Master Retreat: Retreat to your serene master suite featuring a bay window, a generous walk-in closet, and a spa-like bath complete with a soaking tub, tiled shower, double sinks, and contemporary lighting. Flexible Spaces: A versatile den/office with double doors offers the option for a third bedroom, providing flexibility for your lifestyle. Your guests will appreciate the comfortable guest room and bath, equipped with a granite countertop, tub/shower combo, and decorative tiled wall. Practical Amenities: The spacious laundry room includes a built-in desk area and ample storage cabinets, conveniently located off the kitchen and garage. The impressive three-car garage features epoxy flooring, a workbench, cabinets, and a water softener for added convenience. Outdoor Oasis: Step outside to your expansive, walled backyard, featuring a covered patio and extended paver area, perfect for gatherings or peaceful afternoons surrounded by trees and lush landscaping. Community Perks: Enjoy a lifestyle filled with activities and amenities! Trilogy at Power Ranch offers golf, tennis, pickleball, bocce, a state-of-the-art fitness facility, pools, clubs, and so much more. Don't miss this opportunity to experience luxury living in a vibrant community! Schedule your tour today!

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