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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4026 W Bluefield Avenue Glendale, AZ 85308

$619,000
5 Beds
3 Baths
2,357 SqFt
Status Active
MLS # 6778290
Property Type Single Family Residence
Price Type --
Super rare find in 85308! Fantastic commuters location. Welcome home to your split floorplan boasting 5 bedrooms 3 full baths. Walk into the formal entry, step inside to an open and bright layout. Primary room with its own private court yard to enjoy some sunshine. New carpet in secondary bedrooms, updated large tile marble look floors, freshly painted and recently remodeled kitchen that steps outside into entertainers dream, large oasis grassy back yard with lush fruit trees and huge patio gazebo to enjoy out door living while you relax in your swimming pool! Conveniently located to the north 101, shopping, restaurants, schools all within easy distance from this amazing. Very large RV gated parking and more room to grow.

4127 E Edgemont Avenue Phoenix, AZ 85008

$619,000
3 Beds
2 Baths
1,449 SqFt
Status Active
MLS # 6781398
Property Type Single Family Residence
Price Type --
Amazing and wonderful opportunity to acquire this charming lovely brick home located just outside the highly desired Arcadia Osborn neighborhood. This home features timeless classic brick construction and has been lovingly maintained for over 20 years. Just under 10,000sft irrigated lot with an extended covered patio for entertaining, extensive mature trees (numerous fruit trees), and lots of space to add your own special touches or expansions! Fabulous little storage/''man/woman cave'' already equipped with electric and water set with veranda and set up for future flower/veggie garden area plus another huge storage area with electric off laundry entrance. Awesome location with great shopping, restaurants and cafes close by! Airport and freeways are close too!

2525 N 15th Street Phoenix, AZ 85006

$619,000
3 Beds
2 Baths
1,305 SqFt
Status Active
MLS # 6783862
Property Type Single Family Residence
Price Type --
Located in Historic Coronado District, this residence offers a quiet charm with contemporary upgrades that will leave you wowed. Upon entering, you'll be engulfed in natural light, beautiful wooden beams, new vinyl plank flooring and charming updates. The kitchen offers stainless steel appliances with modern fixtures and upgraded hardware. The extensive primary bedroom includes ample space to sit in front of the cozy fireplace and French doors overlooking the oversized yard. Enjoy the front and back yards with updated sprinkler systems to keep the lush grass, trees, and bougainvillea growing year round. The walkability to coffee shops, restaurants, salons and much more is part of the downtown culture you will love! Close to major freeways, Banner Medical Hospital, and Sky harbor.

1170 N 87th Place Scottsdale, AZ 85257

$619,000 - 3Br/2Ba -  for Sale in Trails At Scottsdale 4 Amd, Scottsdale
Open House
$619,000
3 Beds
2 Baths
1,592 SqFt
Status Active
MLS # 6784005
Property Type Single Family Residence
Price Type --
Exciting news for Scottsdale home buyers! A new property is hitting the market that combines modern comfort with incredible value. This charming home features a completely redone kitchen, spacious bedrooms, 2 bathrooms, as well as a 2 car garage; making it a fantastic choice for families, professionals, or anyone looking to settle in this vibrant area. With its open layout, ample natural light, and tasteful finishes, this home offers a welcoming and versatile space for entertaining or relaxing. Not only does it have everything you need, but it's also priced competitively—making it a great opportunity to secure your place in one of Scottsdale's most desirable neighborhoods. Don't miss the chance to tour this stunning property!

22806 N Wagon Wheel Drive Sun City West, AZ 85375

$619,000 - 3Br/2Ba -  for Sale in Sun City West Unit 54, Sun City West
New
$619,000
3 Beds
2 Baths
2,145 SqFt
Status Active
MLS # 6785252
Property Type Single Family Residence
Price Type --
What a great opportunity to own this furnished, nicely updated 3-bedroom home on the golf course adjacent to the green on Deer Valley golf course #14. Most furnishings and household items convey. Large kitchen with great views of the golf course. Many updates include newer roof underlayment, newer HVAC, granite countertops, flooring in bedrooms and AZ room, newer stainless appliances. See the full list in the photo section. Desired South back and great patio. Extended garage and golf cart garage, plus extra refrigerator. Leased solar set at $101 per month and designed to offset 118% of current owners use. Don't miss out on this amazing golf course property in this top rated active adult retirement community where the people are friendly and the activites available are endless!

317 W Ivanhoe Street Gilbert, AZ 85233

$618,500
3 Beds
2 Baths
2,042 SqFt
Status Active Under Contract
MLS # 6777032
Property Type Single Family Residence
Price Type --
Coming Soon! Prime Location in Gilbert! Discover this beautiful, single-story home on an expansive lot, just steps away from a massive park. This home offers three spacious bedrooms, a versatile den that could serve as a fourth bedroom, two bathrooms, and a roomy three-car garage. Inside, enjoy a formal living and dining area, along with an open-concept great room that flows into a beautiful kitchen, that boasts stylish white cabinetry, stainless steel appliances, including stainless steel appliances and sparkling quartz countertops. The large island provides bar seating with views of the lush, grassy backyard. Outside, unwind under the covered patio, surrounded by mature trees and a vast backyard with endless possibilities for creating your ideal outdoor space. This home also features newer flooring and AC system for added comfort. Perfectly situated near Gilbert's best entertainment, shopping, dining, parks, and schools, don't miss out on this incredible opportunity!

1253 W Golden Ore Pass Apache Junction, AZ 85120

$618,253
5 Beds
3 Baths
2,760 SqFt
Status Active
MLS # 6740168
Property Type Single Family Residence
Price Type --
Discover the exceptional difference in your home-buying experience! Welcome to Mariposa at Blossom Rock, where our single-story Lily design is under construction now. Imagine an open-concept floor plan featuring a warm and welcoming kitchen that flows into a bright, airy great room. This space opens up to your private, covered outdoor room - perfect for relaxing or entertaining. Convenience of the 3-car garage that leads directly into the drop zone, making organization a breeze. With 5 spacious bedrooms, 3 luxurious baths, a great room with a dining area, and a flexible office space, this home has everything! Plus, we're including $55,000 in stunning upgrades to make this home truly special, and we're offering special financing to help. Home completion is estimated in October 2024.

1252 W J Waltz Way Apache Junction, AZ 85120

$618,007
4 Beds
4 Baths
2,575 SqFt
Status Active
MLS # 6781072
Property Type Single Family Residence
Price Type --
Experience the unique offerings of this home and buying journey. Welcome to Mariposa at Blossom Rock. The single-story Agave design, presents an open-concept floorplan featuring an inviting kitchen and a bright great room with a separate dining area that seamlessly connects to the private, covered outdoor room. The 2-car garage leads to a convenient drop zone, flex room/office, and more. $59,000 in upgrades are included. ***Special financing options are available.***Blossom Rock's amenities are designed to inspire outdoor living, including community parks, miles of trails, beautiful lakes, signature events, and more. Moreover, perfect blend of tranquility and adventure to enrich your everyday life.

2326 W Gloria Lane Phoenix, AZ 85085

$618,000
4 Beds
3 Baths
2,154 SqFt
Status Active
MLS # 6782146
Property Type Single Family Residence
Price Type --
Located in the highly sought-after GATED Community of Sonoran Foothills - 24 North. This Beautiful Home sits upon a Premium Corner Lot. NO direct neighbors to the side or back! Cul de Sac with Mountain & Desert Wash Views. Low Maintenance Backyard with View Fence & Covered Patio. This Home boasts UPGRADES THROUGHOUT - Perfect for Entertaining! Stunning open floor plan with HIGH Ceilings. GOURMET Kitchen that features Stainless Steel Appliances, UPGRADED Cabinetry w/ Pull-Outs, GORGEOUS Granite Countertops & CUSTOM Backsplash. PREMIUM Engineered HARDWOOD Flooring throughout - NO CARPET. Upstairs has a Spacious En-Suite Master, 3 more Bedrooms, a Big LOFT, and Separate Laundry room with W/D INCLUDED. BRAND NEW Water Heater. Water Softener. Community pool/spa, fenced dog park, and BBQ Ramada PREMIUM Upgrades & Features: Shea Homes - The Polaris Model 4 Bedrooms / 2.5 Baths The Light & Bright, OPEN FLOOR PLAN - perfect for entertaining or just relax & unwind North / South Facing Premium Engineered Hardwood Flooring - Throughout (no carpet) Shared Parking Groups For 3 Properties - other properties share with 6 groupings Cul De Sac Mountain Views Wash Adjacent View Fence Premium Hand Selected Upgrades - throughout Kitchen is RO-Ready Upstairs Laundry Room Washer & Dryer - included **Buyer to verify all information. Listing Agent is related to Seller.

4300 W Prince Road Mcneal, AZ 85617

$617,000
3 Beds
2 Baths
2,150 SqFt
Status Active
MLS # 6721687
Property Type Single Family Residence
Price Type --
Welcome to your dream country property, nestled on 75 acres with almost 360 mountain views. With 36 acres of grandfathered irrigation rights, it's just waiting for you to grow your own hay or run livestock. The property includes a large hay barn, equipment shed, and workshop, plus fenced pastures ready for horses. This fully functioning farm features a domestic well and irrigation well which supplies water to the house, lawn, orchard and fields. The stunning three-bedroom, two-bathroom home features open-plan living. Vaulted ceilings create a bright and airy atmosphere. A spacious kitchen is at the heart of the home. French doors open onto a BBQ and entertainment area where you can host family and friends. (NRCS subsidy for 25 acres of sprinkler irrigation and certain farm implements are also available.) This is more than just a home. It's a one-of-a-kind gem that provides an unparalleled lifestyle for you and your family. Don't miss out on the opportunity to own a piece of desert paradise. Owner is Listing Agent.

7270 W Tina Lane Glendale, AZ 85310

$617,000
4 Beds
3 Baths
2,337 SqFt
Status Active
MLS # 6771486
Property Type Single Family Residence
Price Type --
Very popular floor plan in the highly desired Hillcrest community. This home has 4 bedrooms and 3 full baths and has been upgraded recently. The home has 2 A/C units replaced in 2023, newer pebbletech pool along with porcelain wood look tile in the kitchen and bathrooms, Painted cabinets, granite counters and lots of other upgrades. New carpet was just installed and interior was just painted. New gravel in the yard along with artificial grass in the back. The exterior was also just painted in 2023. New garage floor epoxy just completed as well. This home is a must see

21783 E Roundup Way Queen Creek, AZ 85142

$616,995
3 Beds
2.5 Baths
2,510 SqFt
Status Active
MLS # 6666441
Property Type Single Family Residence
Price Type --
Welcome to this stunning three-bedroom, 2.5-bathroom home that exudes elegance and functionality! Step inside to discover a teen room, study, and a three-car garage, providing ample space for all your needs. This home offers a desirable north-south exposure and a paver driveway, adding to its curb appeal. The kitchen is a chef's delight with 42-inch regal white kitchen uppers, quartz countertops, an oversize island, and upgraded stainless steel appliances including a professional gas range. The contemporary interior design features a 6 x 35 wood tile throughout, creating a seamless and stylish look. Unwind in the primary bath's tile walk-in shower or enjoy the convenience of a kitchen pantry for storage. The upgraded paint package in agreeable gray adds a touch of sophistication! Located conveniently near Highway 24, this home is also close to dining, entertainment, and shopping options, making it a prime location for a vibrant lifestyle. Don't miss out on the opportunity to own this gorgeous home, experience luxury living at its finest!

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