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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6948 W Williams Drive Glendale, AZ 85310

$635,000
4 Beds
2 Baths
2,126 SqFt
Status Active
MLS # 6781263
Property Type Single Family Residence
Price Type --
This beautifully updated single-level home in the desirable Hillcrest community offers 4 spacious bedrooms and 2 renovated bathrooms. The open floor plan features vaulted ceilings, plantation shutters, and a gourmet kitchen with updated cabinetry, a tile backsplash, and a breakfast bar island. The primary bath is a true retreat, with a stand-alone tub, separate shower, and elegant finishes. The guest bedroom includes a built-in Murphy bed for added versatility. Energy-efficient features include solar panels, a newer roof, upgraded heat pumps, and a 220-amp electric car charger. The epoxy-finished 3-car garage offers plenty of storage, plus there's an additional storage shed in the backyard. The private backyard is perfect for entertaining, with a resurfaced PebbleTec pool and new Kool Deck, easy-care turf, a dirt area for pets and a removable pool fence for safety. With no rear neighbors, you'll enjoy peaceful outdoor living. Located minutes from shopping, restaurants, and the 101 Freeway, this home is both convenient and comfortable.

9060 E Captain Dreyfus Avenue Scottsdale, AZ 85260

$635,000 - 3Br/2Ba -  for Sale in Retreat, Scottsdale
Open House
$635,000
3 Beds
2 Baths
1,440 SqFt
Status Active
MLS # 6761855
Property Type Single Family Residence
Price Type --
Seller offering $5,000 in closing cost. Welcome to this beautifully updated 3-bedroom, 2-bathroom home, complete with a 2-car garage featuring a new garage door installed just a year ago. As you step inside, you'll be greeted by soaring vaulted ceilings and a spacious great room, highlighted by a cozy wood-burning fireplace with an elegant stone mantel that extends to the ceiling. The new vinyl flooring adds a modern touch throughout. The updated kitchen boasts Quartz countertops, brand-new stainless steel appliances, recessed lighting, and self-closing drawers for added convenience. The primary suite offers a serene retreat with high ceilings, a sliding door to the backyard, and an ensuite bathroom featuring a dual-sink vanity, a tiled shower, and a walk-in closet. Bedrooms 2 and 3 feature ceiling fans, new vinyl flooring and closet space. The second bathroom has been tastefully updated with a tiled shower, new vanity, and toilet. Outside, the backyard offers a covered patio, a grass area, and a second patio with an above-ground jacuzzi just off the primary suite. Additional highlights include a 5-year-old roof and a backyard drip system. Don't miss out on this stunning, move-in-ready home! This home has a fantastic North Scottsdale location! You'll enjoy a vibrant mix of outdoor recreation and upscale amenities. Just minutes away, explore hiking and biking trails in the McDowell Mountain Preserve or golf at renowned courses like TPC Scottsdale. The area also offers top-notch shopping at Kierland Commons and Scottsdale Quarter, as well as dining at a variety of high-end restaurants. With easy access to cultural hotspots like Old Town Scottsdale and the Taliesin West architecture tour, there's always something to experience nearby.

19550 N Grayhawk Drive Unit 2041 Scottsdale, AZ 85255

$635,000 - 2Br/2Ba -  for Sale in Cachet At Grayhawk Condominium, Scottsdale
Open House
$635,000
2 Beds
2 Baths
1,323 SqFt
Status Active
MLS # 6757018
Property Type Apartment
Price Type --
This property received a MAJOR facelift in 2022. High end materials & workmanship transformed this END UNIT into a CONTEMPORARY gem. Enter through the TWO car epoxy-coated garage (or private front door) & ascend the stairs to the single level living space. All arches have been removed or squared off. Engineered wood & tile floors, custom lighting (including recessed art lights) & remote controlled blackout shades throughout. Kitchen features a modified breakfast bar with granite waterfall counter. Soffit removed above. Bathrooms boast floating vanities, soft close drawers, fully tiled showers with glass entries & new toilets. Large walk-in primary closet has custom organizing system. Two patios. Mountain views. Abundant natural light. Community pool, spa, gym, tennis. Guard gated. Nice!

12122 N Finch Drive Fountain Hills, AZ 85268

$635,000 - 3Br/2Ba -  for Sale in Morningside At Lakeside Village Phase 2 Amd, Fountain Hills
Open House
$635,000
3 Beds
2 Baths
1,794 SqFt
Status Active
MLS # 6753161
Property Type Single Family Residence
Price Type --
Super clean and well maintained 3 bedroom, 2 bath patio home in the Morningside at Lakeside community.You will love the bonus room off Primary Bedroom too. Home has newer windows, updated kitchen & bathrooms. Vaulted ceilings make it feel much larger than it is. Private fenced backyard with trees. Attached 2 car garage with new epoxy flooring & direct access to home. Polished Travertine tile throughout, No Carpet. Low maintenance yard and home. Perfect for lock and leave or full time residence. Close to the Fountain park, hiking trails, dog park, skate park. Community features a heated community pool, spa, ramada plus a small picnic park.

2930 N 154th Drive Goodyear, AZ 85395

$634,999
3 Beds
2.5 Baths
2,614 SqFt
Status Active
MLS # 6722894
Property Type Single Family Residence
Price Type --
This gorgeous 3 bed/2.5 bath home located in the lovely adult golf course community of Pebblecreek just underwent substantial updates and renovations for you to enjoy and call home! Beautiful updates include painted kitchen cabinets, new paint throughout interior of home, new vinyl flooring, fresh New cool deck paint, landscape timer. golf cart garage was converted to an A/C controlled gym. Family room has vaulted ceilings, a fireplace, and built in niche. This home has so much space to enjoy with its over 2600sf, Sparkling private Pebble-Tec pool and above-ground hot tub. 2-car garage has built in storage cabinets, There are outside storage cabinets on one side of the home and a shed on the other for additional storage. Leased solar as an added bonus! You don't want to miss this one!

15163 W Cameron Drive Surprise, AZ 85379

$634,999 - 5Br/3Ba -  for Sale in Rancho Gabriela Phase 3, Surprise
Open House
$634,999
5 Beds
3 Baths
3,684 SqFt
Status Active
MLS # 6775454
Property Type Single Family Residence
Price Type --
Welcome home! Recently renovated and turn-key! 5 spacious bedrooms, 3 bathrooms and a bonus loft + 3-car garage. New luxury vinyl flooring and tile floors throughout, formal living /dining room, kitchen with island, walk-in pantry, granite counters, stainless steel appliances, open to breakfast nook and family room overlooking covered patio, grassy backyard and pool w/ shark inlay. Upstairs to spacious loft for a 2nd family room! Primary suite w/sitting area, separate shower/tub and extra large closet and sleek renovated bathrooms. Added features include modern light fixtures and ceiling fans, surround sound, garage with attached cabinets and epoxy flooring. Enjoy community features of parks, greenbelts, playgrounds, sport court and sand volleyball court.

35568 N Lodestone Drive San Tan Valley, AZ 85144

$634,995 - 4Br/3Ba -  for Sale in San Tan Shadows - Unit 2 2017093030, San Tan Valley
Open House
$634,995
4 Beds
2.5 Baths
2,980 SqFt
Status Active
MLS # 6769242
Property Type Single Family Residence
Price Type --
Check out this stunning move-in ready home! The inviting entry features elegant features and vaulted ceilings that immediately makes you feel at home. A chef's dream kitchen comes complete with marble countertops, stainless appliances, and gas cooktop. Embrace relaxation in the sun-filled great room that is bursting with natural light and is adjacent to the kitchen and casual dining area. The outdoor patio offers pristine views of the community as well as additional dining space that is perfect for social gatherings. Discover what luxury living truly means and come visit today!

23997 N 172nd Avenue Surprise, AZ 85387

$634,995
3 Beds
2.5 Baths
2,734 SqFt
Status Active
MLS # 6732038
Property Type Single Family Residence
Price Type --
Welcome to Estates at Asante, a beautiful community with surrounding views to enjoy! This community offers single story homes with floor plans you will love, like our beautiful Julia plan! This home sits on an oversized, cul de sac, corner lot with mountain views. Once you walk inside the Julia, the extended entry leads to an expansive gourmet kitchen with an extended Quartz center island and 42'' cabinets; a large Butlers Pantry with a wetbar, breakfast nook and great room with a 15ft center meet slider, for indoor and outdoor entertaining. In addition, there is a formal dining room with adjacent covered courtyard off to the side of the home accessible by the center meet doors! This home is set up with 3 bedrooms, 2 and half bathrooms, 3 car garage with additional storage. Welcome to the home of your dreams!

11506 E Utah Avenue Mesa, AZ 85212

$634,990
4 Beds
3.5 Baths
2,615 SqFt
Status Active
MLS # 6728747
Property Type Single Family Residence
Price Type --
Welcome to the Garnet at Destination at Gateway in Mesa, Arizona. This stunning single-story home boasts 4 bedrooms, 3.5 bathrooms, and a den. With 10-foot ceilings and 8-foot doors, the space feels open and inviting. The gourmet kitchen features GE stainless steel appliances, a 36-inch gas cooktop, built-in wall oven and microwave, shaker cabinets with hardware, quartz countertops, and a tile backsplash. Enjoy 6x36'' wood-look tile in the main areas and upgraded carpet elsewhere. A 4-panel sliding glass door connects the great room to a covered patio. The primary bathroom includes a separate shower, soaking tub, dual sinks, and vanity. Bathrooms have upgraded vanity lighting with matte black faucets and fixtures.

11512 E Utah Avenue Mesa, AZ 85212

$634,990
3 Beds
2.5 Baths
2,702 SqFt
Status Active
MLS # 6751960
Property Type Single Family Residence
Price Type --
''Stunning Suntone floorplan - 3 bedrooms with Teen Room and 2.5 Baths, located in the East Valley's newest community, Destination at Gateway. Discover this inviting home featuring a 4 Panel Center siding glass door off the great room, seamlessly connecting indoor and outdoor living. The kitchen boasts stainless steel appliances, including a 36-inch gas cooktop, built-in wall oven and microwave, along with white shaker cabinets adorned with hardware and a convenient trash pull-out. The quartz countertops and tile kitchen backsplash add a touch of elegance to the space. Throughout the home, 8-foot interior doors with upgraded door hardware create a modern, cohesive feel. The main areas are adorned with 6 x 36'' wood-look tile and 4 1/4-inch baseboards, providing a stylish foundation for the home. Bathrooms feature upgraded vanity lights and bath faucets, while the primary bathroom offers an enlarged shower and a separate soaking tub for relaxation. With 10-foot ceilings, an oversized laundry room, a separate valet area at the garage entrance, and a paver driveway, this home is designed to offer both luxury and practicality, providing a comfortable and stylish living space for you and your family.

6754 W Andrea Drive Peoria, AZ 85383

$634,990 - 3Br/3Ba -  for Sale in Aloravita North Phase 3 Parcel 10, Peoria
Open House
$634,990
3 Beds
2.5 Baths
2,125 SqFt
Status Active
MLS # 6740369
Property Type Single Family Residence
Price Type --
Ready now! Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'Barstown' floorplan features 3 full bedrooms, 2.5 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes Burlap Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 8' doors, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Interior photos of similar spec home, options will vary

7432 W Quail Track Drive Peoria, AZ 85383

$634,900 - 3Br/3Ba -  for Sale in Aloravita North Phase 3 Parcel 4, Peoria
Open House
$634,900
3 Beds
2.5 Baths
2,125 SqFt
Status Active
MLS # 6755381
Property Type Single Family Residence
Price Type --
October completion! Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'Barstown' floorplan features 3 full bedrooms, 2.5 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes White Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 9' ceilings, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Home is under construction, photos of similar spec to show layout, options may vary**

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