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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920 E Mitchell Drive Unit 102 Phoenix, AZ 85014

$625,000 - 3Br/3Ba -  for Sale in Mitchell Lofts Condominium Amd, Phoenix
New
$625,000
3 Beds
2.5 Baths
2,212 SqFt
Status Active
MLS # 6784888
Property Type Townhouse
Price Type --
Welcome Home to Mitchell Lofts! Discover unparalleled luxury in this breathtaking 3-bedroom, 2.5-bathroom townhouse, ideally located in one of Phoenix's most sought-after neighborhoods. Spanning an impressive 2,200 sq ft, this sophisticated residence offers an open-concept design that seamlessly blends style and functionality. As you step inside, you'll be captivated by the soaring vaulted ceilings in the expansive living room, creating a grand and airy atmosphere. The gourmet kitchen is a chef's dream, featuring pristine granite countertops, sleek stainless steel appliances, a wine fridge, and custom cabinetry. The seamless flow between the kitchen and living areas makes it perfect for both intimate gatherings and entertaining guests. ((CONTINUED)) The master suite is a serene retreat, offering a spacious layout with a luxurious ensuite bathroom. Indulge in the spa-like experience with dual vanities, a walk-in shower, and a freestanding soaking tub. Every detail has been carefully crafted to create a sanctuary for relaxation. The lower level is just as impressive, with two additional bedrooms, a full bath, and a spacious family room - perfect for privacy or hosting. Beautiful ceramic tile flows throughout the main floor, while luxury vinyl plank flooring graces the lower level. For those who love outdoor living, a spiral staircase leads to a stunning rooftop deck, where you can enjoy panoramic views of the city skyline and beyond. Additional features include a two-car garage, storefront-style windows with custom coverings, and tasteful design elements throughout, making this townhouse the epitome of modern luxury.

43317 N Whisper Court Anthem, AZ 85086

$624,999 - 4Br/3Ba -  for Sale in Anthem Unit 57, Anthem
New
$624,999
4 Beds
2.5 Baths
2,168 SqFt
Status Active
MLS # 6781323
Property Type Single Family Residence
Price Type --
This beautifully renovated 4-bedroom + Office, 2.5-bathroom home perfectly blends luxury and practicality, with thoughtful upgrades throughout. The fully remodeled kitchen features quartz countertops, custom cabinetry, sleek fixtures, and a reverse osmosis water system. Each bathroom has been thoughtfully updated with new toilets, sinks, fixtures, and stylish flooring. For year-round comfort, the home is equipped with a newer AC, furnace, water heater, and water softener. Outside, you'll find a sparkling pool with a built-in BBQ, ideal for entertaining. The home also boasts a stunning updated stairwell, epoxy garage floors, and a meticulously maintained exterior—making it not just a house, but a true lifestyle.

5064 E Peak View Road Cave Creek, AZ 85331

$624,995
3 Beds
2.5 Baths
2,141 SqFt
Status Active
MLS # 6650226
Property Type Single Family Residence
Price Type --
3BD 2.5BA 2141 SQ FT HOME WITH PRIVATE POOL IN GREAT LOCATION. LARGE BKYD THAT BACKS TO DESSERT WASH. TILE IN ALL WALK AREAS & CARPET THROUGHOUT.

5529 W Paseo Way Laveen, AZ 85339

$624,990
5 Beds
3.5 Baths
4,122 SqFt
Status Active
MLS # 6765011
Property Type Single Family Residence
Price Type --
''Welcome to this stunning Diamond floorplan home, offering a generous 4,122 square feet of modern living space. This beautifully designed residence features 5 spacious bedrooms and 3.5 luxurious bathrooms, providing ample room for both relaxation and entertaining. As you enter, you're greeted by a bright and airy layout that seamlessly flows from the den to the inviting living areas. The office loft is perfect for remote work or study, ensuring you have a dedicated space for productivity. The heart of the home is the chef-inspired kitchen, showcasing sleek white cabinets, a striking quartz kitchen island, and stylish black hardware. Whether you're hosting gatherings or enjoying cozy meals, this kitchen is sure to impress. Stylish plank tile flooring runs throughout the main areas, adding a touch of elegance and durability. The Spanish elevation of the home adds a unique charm and curb appeal that you'll love. Additional features include a spacious 3-car tandem garage, providing plenty of storage and parking options.

22717 E Lords Way Queen Creek, AZ 85142

$624,990
4 Beds
3 Baths
2,123 SqFt
Status Active
MLS # 6761308
Property Type Single Family Residence
Price Type --
4 CAR SUPER GARAGE!!! Do not miss the opportunity to own our lovely Opal plan featuring 4 bedrooms, a Den and 3 baths, Modern Desert home Not only will you be impressed with the expansive garage, this N/S homesite has a double gate and is large enough to build a wonderful backyard Oasis. The gourmet kitchen has light grey shaker cabinetry with extended dining cabinets, sleek stainless steele hardware, quartz countertops, and a glitensing tile backsplash. Wood plank tile floors are in the main living areas with designer tile floors in the primary bath; and the primary bath features an oversized shower with tile surrounds. The Opal floor plan offers flexibility with a bedroom, bath, and den separate from the other rooms for a guest suite arrangement. This home offers room for everyone and plenty of storage with the oversized garage, expansive 10' ceilings, & 8' interior doors. Additional convenience features include an electric car charging package, garage sink, preplumb for a sink in the laundry, laundry room to the primary closet, and added LED ceiling lighting. Gather at the community pool, hottub, pickle-ball, BarBQ's, Ramadas, or neighborhood park in our lovely Madera Community. When you choose to venture out for dining and entertainment, there are several options with Queen Creek Market Place a few short miles away and the new Frontier Family Park that is almost complete.

29403 N 31st Lane Phoenix, AZ 85083

$624,990
4 Beds
3 Baths
2,105 SqFt
Status Active
MLS # 6771893
Property Type Single Family Residence
Price Type --
Special Financing Available! This single-level home showcases Lennar's signature Next Gen® suite, which is comprised of a separate living space, kitchenette, bedroom and bathroom, ideal for multigenerational living. In the main home, the Great Room, kitchen and dining room are arranged among a convenient open floorplan, with sliding glass doors that lead to the covered patio. The owner's suite is situated at the back of the home, while two bedrooms are found off the foyer. Photos are renderings of a model home, not the actual home.

26827 N 67th Drive Peoria, AZ 85383

$624,990
3 Beds
2.5 Baths
2,125 SqFt
Status Active
MLS # 6715116
Property Type Single Family Residence
Price Type --
This home is now complete and ready to make it yours! 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 9' ceilings, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Interior photos of similar spec, options may vary**

2204 E Kelly Drive Gilbert, AZ 85298

$624,990
4 Beds
2 Baths
1,793 SqFt
Status Active
MLS # 6759517
Property Type Single Family Residence
Price Type --
Nestled in the gated community of Belrose, this stunning Gilbert home offers the ideal blend of style & comfort. Wood-look tile flooring with plush carpeting in all the right places, recessed lighting, & modern fixtures & design elements throughout. The bright, open kitchen boasts white cabinets, sleek stainless steel appliances, quartz countertops, RO System, & a walk-in pantry. The spacious primary bedroom features an ensuite with walk-in shower & dual vanity. Enjoy AZ living in your backyard with a covered patio, pavers, & a dog run. Also included, a convenient doggy door, a 2-car garage with extra storage & water softener/whole house filtration system. Situated in an incredible central location, this home provides easy access to highways, top-rated schools, shopping, dining, & more!

3537 Plaza De La Rosa -- Sierra Vista, AZ 85650

$624,990
3 Beds
2 Baths
2,412 SqFt
Status Active
MLS # 6781271
Property Type Single Family Residence
Price Type --
MUST SEE, WONT LAST LONG!! A beautiful 3 bed, 2 bath residence in La Terraza is now for sale! Boasting a stunning facade w/stone accents, low-care landscape, a 3 car garage, and RV gate, it's sure to be the home for you! Inside you will find a spacious semi-open floor plan w/elegant wood-look flooring, vaulted ceilings w/skylights, neutral palette, and a warm fireplace. The kitchen is equipped w/ample wood cabinetry, tile counters & backsplash, a pantry, built-in appliances, a breakfast nook w/a lovely bay window, and a breakfast bar. End your busy day in the primary bedroom, boasting a 3-way fireplace, a walk-in closet, and a full ensuite w/dual sinks. Don't forget about the cozy bonus room, ideal for a lounge or entertainment center! Feel safe in this beautiful gated community. Lastly, the wonderful backyard includes a covered patio, a convenient storage shed, artificial turf, a seating area w/a ramada, and a sparkling blue pool!

12643 W Roanoke Avenue Avondale, AZ 85392

$624,970
3 Beds
2.5 Baths
2,494 SqFt
Status Active
MLS # 6783118
Property Type Single Family Residence
Price Type --
Welcome to Rancho Santa Fe! This 3-bedroom, 2.5-bath residence features a 2-car garage, an RV gate, and a low-maintenance yard. You're greeted by a cozy living room with a soothing palette, plantation shutters, recessed lighting, and tile flooring. The family room has an inviting fireplace and double French doors leading to the backyard. The delightful eat-in kitchen comes with granite counters, crisp white cabinetry with crown moulding, a stone tile backsplash, SS appliances, a handy pantry, and an island with a breakfast bar. The bright main bedroom boasts vaulted ceilings, plush carpeting, balcony access, an ensuite with dual sinks, and a walk-in closet. Venture out onto the balcony, which offers serene views of the surroundings. The enchanting resort-style backyard showcases a covered patio, a lovely gazebo, a built-in BBQ, an outdoor fireplace, a putting green for golf enthusiasts, and a relaxing spa and pool combo. Make this gem yours now!

8532 W Rancho Drive Glendale, AZ 85305

$624,950
5 Beds
3 Baths
2,871 SqFt
Status Active
MLS # 6734484
Property Type Single Family Residence
Price Type --
GORGEOUS 5BDRM/3BATH HOME IN MINT CONDITION W/UPGRADES GALORE!! SOARING CEILINGS & EXTENSIVE USE OF PLANK FLOORING GREET YOU AS YOU ENTER THIS OPEN & SPACIOUS FLOORPLAN! BEAUTIFUL GOURMET KITCHEN W/42' CABINETRY & QUARTZ CNTRTOPS W/LRG WATERFALL ISLAND/BRKFAST BAR - UPGRADED SS APPL, DBL OVEN, HOODED STOVE & PENDANT LIGHTING - LRG MSTR SUITE W/GLASS WALK-IN TILED SHOWER - FIBER OPTIC INTERNET - PAVERED DRIVE & WALK-WAY, COVERED PATIO + HOME CLOSE TO THE NEW MATTEL ADVENTURE PARK, CARDINALS STADIUM, SHOPPING, RESTAURANTS, ENTERTAINMENT & MORE!! A MUST SEE!!

16213 N 9th Place Phoenix, AZ 85022

$624,950
3 Beds
2 Baths
1,910 SqFt
Status Active
MLS # 6745175
Property Type Single Family Residence
Price Type --
BUYER COULD NOT PERFORM-BACK ON MARKET!!! Brand new roof!! Welcome to this beautifully remodeled 3-bedroom, 2-bathroom ranch-style home at 16213 N 9th Place! Located in a peaceful cul-de-sac, this 1,910 sq. ft. home features an open concept living space with a split floor plan, hardwood floors, a custom kitchen with a large island, coffee bar, and white cabinets that complement sleek silver appliances. The dual shower bathrooms with elegant double sinks add a touch of luxury. Outside, enjoy the covered patio, oversized backyard, RV parking, and desert landscaping. The community offers a private park, playground, and green belt, and it's just minutes from Lookout Mountain with easy access to the I-17 and 51 freeways. This home has it all!

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