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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21520 W Watkins Street Buckeye, AZ 85326

$635,000
3 Beds
2 Baths
1,644 SqFt
Status Active
MLS # 6730156
Property Type Single Family Residence
Price Type --
Beautiful well-cared for 3-bed/2-bath on 1-ACRE, IRRIGATED LOT WITH HORSE PRIVILEGES. Quality constructed CUSTOM HOME with 2 x 6 framing, NEWER ROOF (2020), ALL NEW LOW-E WINDOWS (2024), TRANE 18-SEER Variable Speed A/C (2016), Porcelain faux-wood tile throughout living space, upgraded custom closets in all closets. Fully fenced back yard with a fenced off area and shade structure for horses. Water available at horse shade with conduit run for electric. RV Parking w/30-AMP hook-up. 3-Car Extended Length Garage. 10' X 14' Tuff Shed Storage w/ upgraded floor and radiant roof barrier for extra insulation. Nestled in a quiet, established neighborhood with *NO HOA*. A short drive from Costco, New Banner Hospital (planned for 2025), schools and I-10 freeway. See Docs for nearby horse arenas.

22353 N 99th Lane Peoria, AZ 85383

$635,000
3 Beds
2 Baths
1,898 SqFt
Status Active
MLS # 6728823
Property Type Single Family Residence
Price Type --
This METICULOUSLY CARED FOR and IMMACULATELY KEPT home with GREAT ROOM floor plan will PROVIDE a SPECIAL PLACE for COMFORT and DAILY LIVING but ALSO a PLACE for ENJOYMENT and ENTERTAINMENT*You have YOUR OWN PRIVATE POOL with GREENBELT VIEWS rather than back yard neighbors, as well as the DESIRABLE MEADOWS' COMMUNITY PICKLE BALL COURTS, POOL, SPA, and SPRAWLING PARK only a few doors away*Your KITCHEN has OVERSIZED ISLAND, GAS STOVE, R/O, refrigerator included, and PANTRY*CONVENIENT BUILT IN STUDY CENTER*LARGE OWNER SUITE is split and you can APPRECIATE the added 4-ft extension*This NEWER BUILT HOME has updated CEILING FANS and PENDANT lighting, NEST thermostat, BLINK exterior CAMERAS, and ORANGE and LEMON tree planted in 2023*COME BY and SEE why YOU WILL WANT TO CALL THIS PLACE YOUR ''HOME

1202 W Davis Way Flagstaff, AZ 86001

$635,000
4 Beds
2 Baths
1,667 SqFt
Status Active
MLS # 6730477
Property Type Single Family Residence
Price Type --
Welcome to your home in Coconino Estates close to downtown, schools, skiing, and the Flagstaff Urban Trail System! This charming single-level home has 4 bedrooms & 2 baths, an inviting open floor plan, a wood-burning stove and huge windows for tons of natural light. In the backyard you'll find mature trees, Koi pond and covered patio. Other features include new roof in 2019, large storage shed, tons of parking and a view of the beautiful San Francisco Peaks. A perfect place to call home, whether it's your full-time residence or a vacation home in the mountains. Walking distance to downtown Flagstaff, parks, Coconino Center for the Arts, bus stop, schools and Flagstaff Urban Trail system. Access to the ''Ditch Pool'' with voluntary HOA.

6225 E Carolina Drive Scottsdale, AZ 85254

$635,000
3 Beds
2 Baths
1,415 SqFt
Status Active
MLS # 6733040
Property Type Single Family Residence
Price Type --
Welcome to this charming single-story home boasting fresh interior and exterior paint that accentuates its bright and airy ambiance. The kitchen features stainless steel appliances including a range and dishwasher, complemented by beautifully painted cabinets and quartz countertops that provide ample workspace. With three bedrooms and two baths, this home offers both comfort and functionality. Enjoy entertaining in the spacious living areas complete with a cozy fireplace and luxury vinyl plank flooring throughout. Outside, a fenced pool awaits in the private backyard, perfect for relaxing or hosting gatherings. This home combines modern upgrades with classic charm, making it an ideal retreat for any homeowner.

2680 E Lodgepole Drive Gilbert, AZ 85298

$635,000
3 Beds
2 Baths
2,109 SqFt
Status Active
MLS # 6749444
Property Type Single Family Residence
Price Type --
Welcome to this wonderful single story home in beautiful Freeman Farms. This 3 bedroom/2 bath (plus a den) home showcases an open floor plan with an abundance of natural light. The home boasts of a bright kitchen, granite countertops, stainless steel appliances, and large walk-in pantry. This move in ready home features neutral tile throughout, plush carpet in the bedrooms, ceiling fans in every room, and an extended 3 car tandem garage with tons of storage and epoxy flooring. You will love the mature landscaping, covered patio, and spacious backyard that features a soothing waterfall, BBQ island, and relaxing hot tub. This quiet community offers beautiful views and is only minutes from Gilbert Regional Park and SanTan Village Mall. Make an offer today before it is gone!

18410 W Pioneer Street Goodyear, AZ 85338

$635,000
3 Beds
2.5 Baths
2,390 SqFt
Status Active
MLS # 6753104
Property Type Single Family Residence
Price Type --
Come see this versatile property that offers an enclosed RV garage & a wonderful place to call home! In addition to 3 bedrooms, this great room floor plan also offers flex space that can be used as a game room, work out area or office. Enjoy spacious green parks, walking paths & a quiet neighborhood. This well-kept open floor plan is sure to please with it's upgraded kitchen featuring stylish cabinets, tiled backsplash, roomy kitchen island & Quartz countertops. The insulated garage is also enhanced w/ mini splits to cool your work space, has an overheight area, & an extended length for a variety of enclosed parking options as well as custom cabinets/storage rack. Other features include: extended paver driveway which leads to a concrete pad behind the utility gate, & back patio pavers! Bonus misc items: RV garage portion measurements are 40 ft in length and 14ft tall door with 16ft clear height, large walk-in tile shower in master, tiled 2nd bath shower, water softener, 2 year old water heater, whole house surge protector, wired fiber optics for improved efficiency and speed of telecommunications services/internet transmission, sun shades on sun bearing windows, custom tint on Arcadia doors and east facing windows. 

15492 W Campbell Avenue Goodyear, AZ 85395

$635,000
5 Beds
3.5 Baths
3,900 SqFt
Status Active
MLS # 6755869
Property Type Single Family Residence
Price Type --
Basement homes are not synonymous with Arizona. Welcome to Palm Valley Living at it's finest! This well appointed home has 5 bedrooms 3.5 bathrooms with 3900 sq ft for your enjoyment. 3 car garage and a neutral pallet makes this one a winner!

1701 W Frier Drive Phoenix, AZ 85021

$635,000
4 Beds
3 Baths
2,310 SqFt
Status Active
MLS # 6761449
Property Type Single Family Residence
Price Type --
Welcome to this beautifully upgraded 4-bedroom, 3-bathroom home nestled in the heart of Northern Star. This property boasts an open-concept floor plan, perfect for entertaining, with a spacious new kitchen and wine bar area featuring granite countertops, stainless steel appliances, and a large island. The primary suite offers a private retreat with a walk-in closet and luxurious en-suite bathroom with a custom wet room. Step outside to enjoy the patio, ideal for relaxing or hosting summer barbecues. Located just minutes from Phoenix Mountains Preserve, Light rail system and Orangewood Elementary School, this home offers the perfect balance of comfort and convenience. Don't miss out on this fantastic opportunity. Listing Agent is Part Owner of LLC. Spacious secondary living room featuring a cozy fireplace, perfect for relaxing on chilly days while enjoying your favorite shows. This versatile space also provides an ideal setting for hosting large gatherings and entertaining guests or making the perfect office space. All wood flooring has been freshly refinished and cleared coated that will last a long time.

7632 E Bonita Drive Scottsdale, AZ 85250

$635,000
3 Beds
3 Baths
2,026 SqFt
Status Active
MLS # 6763467
Property Type Townhouse
Price Type --
*AMAZING Villa Monterey Home *Three Bedrooms, three bathrooms, over 2000 square feet of space *COVETED DOUBLE CARPORT! *Low HOA fee of just $650 annually! *Scottsdale Historic District *Age 55+ Community *REMODELED KITCHEN with maple cabinets, GRANITE countertops, granite backsplash, NEWER APPLIANCES & modern tile flooring *Main level features spacious living room, in-ceiling lighting, formal dining space, breakfast nook, laundry utility room, primary bedroom & full bath, additional bedroom and hall bath *Upper level features loft style bedroom, full bathroom, balcony with mountain views, walk-in closet and BONUS SPACE (can be used as office, hobby area, pet area) *Wood laminate flooring *CONVENIENT door from living room to primary bedroom suite *Upgraded lighting, plantation & front entry door *Large laundry room with extra storage and side-by-side washer dryer which conveys! *Pretty PANED WINDOWS on back of home *Super nice north facing covered patio mature citrus tree, PAVERS and two fans *Home is in great condition and has been VERY WELL MAINTAINED by owners of many years *Sparkling community pool & spa *Minutes to Fashion Square Mall, Scottsdale's Waterfront, Old Town Scottsdale, Fifth Avenue Shops & Galleries, Spring Training Venues, fine and casual dining venues and SO MUCH MORE!

6401 E Lewis Avenue Scottsdale, AZ 85257

$635,000
3 Beds
3 Baths
1,755 SqFt
Status Active
MLS # 6775282
Property Type Single Family Residence
Price Type --
Instant equity- SAME HOUSE WITHOUT UPGRADES SOLD ONE MIN AWAY FOR $715K! PLUS get $3000 at closing for backyard upgrades. This spacious house featuring new quartz countertops, located on a corner lot with freshly painted interiors and exteriors. This home boasts of two living spaces and an open floor plan, perfect for entertaining. Situated on a generously sized lot in a great neighborhood with no HOA.

20750 N 87th Street Unit 2139 Scottsdale, AZ 85255

$635,000
2 Beds
2 Baths
1,356 SqFt
Status Active Under Contract
MLS # 6743827
Property Type Townhouse
Price Type --
Amazing townhome near McDowell Mountain Preserve! Welcome to this beautifully updated two-bedroom, two-bath townhome featuring a two-car garage. The living room boasts a beautiful fireplace with elegant stone accents, creating a warm and inviting atmosphere. Step outside to a large, open patio, perfect for relaxing or entertaining. The modern kitchen is a chef's dream, equipped with stainless steel appliances, stunning granite countertops, and a convenient breakfast bar. Enjoy meals in the adjacent formal dining area, enhanced with updated fixtures that add a touch of sophistication. The large master bedroom offers a private balcony, providing a serene retreat with views of the surrounding area. Inside laundry adds convenience, making daily chores a breeze. Located just steps away from the McDowell Mountain Preserve, and minutes from Scottsdale's shopping and dining, this townhome offers easy access to outdoor adventures and breathtaking scenery. Experience the perfect blend of comfort, style, and location in this must-see home!

3107 W Languid Lane Phoenix, AZ 85086

$635,000
6 Beds
3 Baths
2,981 SqFt
Status Active Under Contract
MLS # 6730197
Property Type Single Family Residence
Price Type --
Wow, she's looking GOOD! New carpet, fresh paint, and now a new price! Location near I-17 & Loop 303 freeways, making commuting a breeze. Ideal for those connected to the nearby TSMC plant or seeking proximity to Lake Pleasant. The first level features vinyl plank flooring in the main living areas, creating a warm & inviting atmosphere. All 3 bathrooms have been tastefully updated to reflect modern comfort & style. Updated kitchen with plenty of cabinets, double ovens, & modern lighting, flowing into a cozy family room anchored by a gas fireplace. Adjacent, a sunlit flex room with abundant storage & utility sink. Off of the main entry, there is a convenient bedroom & bathroom providing privacy for guests or an ideal home... office. The primary suite features a custom walk-in closet, a bay window sitting room with mountain views, & a remodeled en-suite. Step outside to enjoy the beautiful backyard featuring an artificial grass area, private pool, extended patio with sun shade-perfect for outdoor gatherings & relaxation. Additional highlights include new Trane AC units (2023), soft water system, & RV gate. The Tramonto Community enhances daily life with amenities such as pools, tennis, basketball & volleyball courts, playgrounds, & trails. Nearby shopping, dining, & schools ensure seamless convenience. Experience the best of Arizona living in this beautiful home!

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