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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6735 N 10th Street Phoenix, AZ 85014

$629,000
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.

4078 E Catclaw Street Gilbert, AZ 85296

$629,000
5 Beds
3 Baths
1,951 SqFt
Status Active
MLS # 6775699
Property Type Single Family Residence
Price Type --
Welcome to this beautiful single level home in Warner Meadow. As you enter the home through the entryway there's a secondary bedroom with a full size bathroom, which is a great option for overnight guests. Continuing on leads you straight into the kitchen with its beautiful countertops and ample cabinet space. This connects effortlessly into the dining room/great room through an open-concept layout. The primary bedroom is large with a luxurious bathroom, dual sinks and walk in closet. The cozy backyard boasts pavers and synthetic grass. This is a must see!!

1700 E Lakeside Drive Unit 65 Gilbert, AZ 85234

$629,000 - 2Br/2Ba -  for Sale in Breckenridge Bay Lot 1-65 Tr A-i, Gilbert
Open House
$629,000
2 Beds
2 Baths
1,777 SqFt
Status Active
MLS # 6761143
Property Type Townhouse
Price Type --
Beautifully situated in Breckenridge Bay sits this meticulously appointed single-level townhouse! Upon entry, enjoy ample natural lighting, generous-sized open living and dining areas, vaulted ceilings & warm color tones throughout. The gorgeous dark wood floors contrast perfectly with bright silver-gray-colored walls. The vibrant Kitchen boasts granite tops and stainless steel appliances all accented with natural white cabinetry. Both bedrooms have newer LVT flooring and the main bath has been impressively remodeled to 5-Star Resort standards! Ideally located just steps away from the clubhouse, full amenities, and the lakes.... living in Val Vista Lakes is resort Lifestyle Living at its best!

2066 S Martingale Road Gilbert, AZ 85295

$628,900
3 Beds
2.5 Baths
2,708 SqFt
Status Active
MLS # 6779585
Property Type Single Family Residence
Price Type --
This two-story home has OWNED SOLAR and a spacious design, offering 3 bedrooms, 2.5 bathrooms, a cozy den, and an airy loft area. Inside, you'll find an large kitchen designed for both cooking and entertaining, complete with ample counter space, gas stove, and an oversized pantry ideal for all your storage needs. The large primary bedroom serves as a peaceful retreat and connects to an en-suite bathroom with dual sinks and a walk-in closet. The additional bedrooms are well-sized, perfect for family or guests. The den offers a flexible space perfect for a home office, library, or playroom and the upstairs loft provides a bonus area for lounging, a second family room, or a study zone. Exterior was painted in 2022. Backyard has new pavers and easy to maintain turf.

31510 N 24th Drive Phoenix, AZ 85085

$628,000
3 Beds
2.5 Baths
2,026 SqFt
Status Active
MLS # 6570906
Property Type Single Family Residence
Price Type --
Beautiful Modern Appeal. Multiple Upgrades. High ceilings and Great Lighting make this home feel expansive. Gourmet Kitchen with gas range and hood. Oversized Quartz Waterfall countertop. GE Profile Appliances. Electric blinds, large farmhouse sink, water softener. 2-Large Screen Wall Mounted TV's included. Nest thermostats. Low maintenance backyard with Gas lined Fire Table, Gas Grill, Artificial turf and Tiled patio. Lights and Irrigation on timers. Energy efficient rated home. Community Pool and BBQ. There is also a dog park conveniently located close to this home. Excellent Location, close to shopping and restaurants! Great Investment Opportunity!

10728 E Monterey Avenue Mesa, AZ 85209

$628,000
3 Beds
3 Baths
2,277 SqFt
Status Active
MLS # 6767540
Property Type Single Family Residence
Price Type --
Welcome to Mulberry, a master-planned community that EVERYONE falls in love with. It's almost like an enchanted land - magically reminiscent of the early 1900s when homes created quaint neighborhoods w/ front porches.The home offers pride of ownership on a premium private lot. Open floor plan with a great room concept. Chef's kitchen offers upgraded cabinets, island, granite countertops, SS appliances, custom pendant lighting. Informal dining all open to the great room w/ large slider overlooking the beautiful backyard. Private owners suite walk in closet. Master bath offers: soaking tub & huge walk in shower. All secondary BR's are good size with 2 full baths. Shutters throughout home. Backyard offers putting green, covered patio and lush landscaping. Newer exterior paint. Three car garage with over head storage. Mulberry amenities include sport courts, playgrounds, two pools, fitness, multipurpose room, a huge event lawn, and a Lifestyle program. Adjacent to the community, Desert Ridge Junior and High Schools, as well as two elementary schools, are all part of the top-rated Gilbert School District. The 202 San tan and US 60 Superstition Freeways are each within approximately 1.8 miles of Mulberry. Mesa's tech corridor, expected to provide thousands of job opportunities, lies just one mile south. Within a mile find major shopping, dining, and entertainment. Come see this perfect home.

1240 E Kramer Circle Mesa, AZ 85203

$628,000
4 Beds
2 Baths
2,318 SqFt
Status Active
MLS # 6766889
Property Type Single Family Residence
Price Type --
This spacious floor plan features a living room and dining room, along with a separate family room. The fabulous open kitchen includes an island and pantry, perfect for all your cooking needs. The large master bedroom boasts an expansive master bath with a separate shower, and there's also a dedicated laundry room. The extended cabinets in the kitchen provide ample storage space for your cookware and countertop appliances. The backyard is an entertainer's dream, complete with a Pebble Tec pool/spa, a water feature, a covered patio, and numerous upgrades. Experience resort-style living in this beautiful gated community!

7946 E Portobello Avenue Mesa, AZ 85212

$628,000 - 5Br/4Ba -  for Sale in Boulder Creek Unit 5, Mesa
New
$628,000
5 Beds
3.5 Baths
3,020 SqFt
Status Active
MLS # 6784500
Property Type Single Family Residence
Price Type --
BRAND NEW ROOF WITH TRANSFERRABLE WARRANTY! This beautifully updated home features 5 spacious bedrooms, 3.5 bathrooms, formal living & dining, a large bonus room + fresh paint & new carpet throughout. This thoughtfully designed floorplan offers formal living & dining, a large family room open to the kitchen, upstairs bedrooms & tons of natural light. The kitchen overlooks your large, lush yard & includes a center island, granite countertops, glass-tile backsplash, a walk-in pantry & NEW stainless steel appliances including the refrigerator & beverage fridge. The primary bathroom has been completely renovated with NEW dual sink vanity + Quartz top & separate tub and shower with custom tile surround. Enjoy relaxing in this beautiful yard, complete with outdoor kitchen area & RV gate.

6895 N 79th Place Scottsdale, AZ 85250

$628,000
2 Beds
2 Baths
1,052 SqFt
Status Active
MLS # 6781366
Property Type Townhouse
Price Type --
Welcome to CAMELVIEW GREENS, an exclusive townhome community ideally located in the heart of Scottsdale. This meticulously maintained, TURNKEY residence features a well-appointed 2-bedroom, 2-bath split floor plan. REMODELED in 2020. Upgrades include premium quartz countertops, elegant wood-look vinyl flooring, multi-functional kitchen shutters, glide-out drawers, custom shelves, updated hardware, SS appliances with Bosch smart dishwasher and wine fridge. NEST and Ring. Soaring ceilings, and recessed lighting throughout with upgraded, modern ceiling fans. The low-maintenance backyard is by design with pavers, turf, rock, and drip system for ease of care. The community offers a gated entrance, beautifully landscaped grounds, and thoughtfully designed common areas, as well as a heated pool and spa. Situated just minutes from Old Town Scottsdale, Fashion Square, Camelback Mountain, Spring Training fields, Talking Stick Resort, walking and biking trails, golf courses, fine dining, and a host of other amenities, this residence presents an exceptional opportunity for upscale living. Don't miss the chance to own this MOVE-IN-READY home in one of Scottsdale's most sought-after communities.

13300 W Red Hawk Drive Peoria, AZ 85383

$628,000
2 Beds
2 Baths
1,926 SqFt
Status Active Under Contract
MLS # 6782879
Property Type Single Family Residence
Price Type --
Light and bright with neutral color pallet throughout, this model-like home filled with upgrades and ready for immediate move-in is the trophy property of Trilogy. When it's all about the details, there's no overlooking the clean lines, contemporary finishes and sophisticated style present. Vertical plank porcelain tiles are carried throughout leading past the guest quarters, home office, and into the great room and gourmet kitchen. Here, you'll find a gas cooktop, built-in stainless steel appliance package, wine chiller, granite countertops paired with white cabinetry providing plenty of storage. A pantry and optional 'SMART SPACE' are just around the corner. Included with the high-end washer and dryer, sink, upper and lower cabinetry there's a workstation here too. Crafting, hobbies, 2nd office are all possible. A natural flow to the open floor plan spotlights the 90 degree angle WALL OF GLASS connecting two rooms where the gas fireplace of the exterior becomes the focal point. This award-winning Shea Home faces south allowing the warmth of the sun to gently illuminate the yard in a gentle even distribution year round. The two-car garage has been extended 4 feet and can accommodate larger vehicles or more room for storage. Take a look at the areal shots of the neighborhood. There are trails and walking paths just outside your door. The vibrant community of Trilogy at Vistancia is alive with community events, golf, tennis, pickle-ball, crafting, fitness classes, gourmet eateries... there's endless options to partake in. Whether you're looking for your forever home or respite from the cold, this picture-perfect property provides style, convenience and practicality.

11329 E Savannah Avenue Mesa, AZ 85212

$628,000
4 Beds
2.5 Baths
3,080 SqFt
Status Active Under Contract
MLS # 6745817
Property Type Single Family Residence
Price Type --
You will fall in love with this huge corner lot property that exhibits pride of ownership in East Mesa. Notice the fantastic curb appeal and easy to maintain and beautiful landscaping. It has separate living & family rooms and either tile or wood flooring throughout.Kitchen offers upgraded cabinetry with a ton of storage space, gas cook top stove, wall ovens, island with breakfast bar, &granite countertops. The laundry has extra cabinets & sink. There are 4 spacious bedrooms, 2.5 baths, and fantastic loft. In the primary bath there is a garden tub, separate shower, walk-in closet, and private toilet room. The backyard is an oasis with covered patio and swimming pool. Meticulously maintained home by original owners. New Roof, paint, laminate floors in 2024. A/C units routinely maintained.

3357 E Derringer Way Gilbert, AZ 85297

$627,900
4 Beds
2.5 Baths
2,834 SqFt
Status Active
MLS # 6765583
Property Type Single Family Residence
Price Type --
Location, Location! Stop and take a look!! You'll love the new floors (installed in 2024). In addition to all of this, the home features an impeccable eat-in kitchen, great room, and formal living room. Enjoy afternoons in the beautiful backyard with a covered patio, cozy firepit, and sparkling pool. This is a value you won't want to miss!

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