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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1212 E Indianola Avenue Phoenix, AZ 85014

$614,999
4 Beds
2 Baths
1,738 SqFt
Status Active
MLS # 6675839
Property Type Single Family Residence
Price Type --
Welcome to this well-built 1950s mid-century modern with a total 2023 remodel from top to bottom. Upgrades include a new roof, new electrical panel, dual pane windows, energy efficient HVAC, all new flooring, fully upgraded kitchen with huge island and quartz countertops, all new appliances, newly renovated bathrooms, paver patio, sidewalk and driveway, tankless water heater, irrigation system. On suite bathroom in the master bedroom with a walk-in closet, 3 additional large bedrooms, as well as a bonus room/home office. Step out into privacy in your fully fenced backyard with a beautiful patio to enjoy the Arizona sunshine! Located in the heart of Central Phoenix minutes from downtown, Arcadia/Biltmore and highway 51. This is truly the perfect location!

9311 W Coolidge Street Phoenix, AZ 85037

$614,999
6 Beds
5.5 Baths
3,949 SqFt
Status Active
MLS # 6729757
Property Type Single Family Residence
Price Type --
$6,000 Monthly Lease Income Included! This stunning 6-bedroom home not only offers exceptional living but also comes with a $6,000 per month lease—providing immediate cash flow! If you're looking to make it your primary residence, the tenant is willing to relocate, giving you complete flexibility. Location, Location, Location! Perfectly situated just off the 101 & Camelback, this home puts you at the heart of it all—minutes from Westgate, Glendale Stadium, and the soon-to-be-built waterpark and hotels in this rapidly growing area. Key Features:

4430 S Hassett Circle Mesa, AZ 85212

$614,999
4 Beds
2 Baths
2,032 SqFt
Status Active
MLS # 6748046
Property Type Single Family Residence
Price Type --
BACK ON THE MARKET, buyer could not perform. Absolutely stunning home that has been meticulously cared for and loved! This home shows light and bright, with a fresh new coat of paint throughout interior. The exterior was repainted within last few years as well. This floor plan has many flex options, with up to five bedrooms possible. There are currently 3 bedrooms. The 4th (with full closet) is opened up, currently used an office/flex space, which would be easy to frame to builder 4th bedroom option. Entry is extremely open and has a formal living room, easy to add a barn door for office, or additional room. Stunning floor update throughout Master, office, and family room. The kitchen is an entertainer's delight as it is open to the family room and dining area with an XL (See More) island for those fun, social gatherings. Nice stainless steel appliance package and large pantry! Upgraded exterior elevation with stone siding and front patio, which you could easily add pavers for seating area. Garage has extra overhead storage, which conveys, and is pre-plumbed for soft water loop. New sunscreens, New RV gate, opens to spacious side yard with extra gate added for dog run, recent $2500 upgrade. The backyard is enormous and truly an entertainer's delight, with pavers throughout, showcasing the stunning pool and spa! AC, Pool/ spa just inspected, with clean bill of health, and new pool filter pump in 2022. Too many upgrades to list a must see! Hurry this one will not last!

37750 W Padilla Street Maricopa, AZ 85138

$614,990
4 Beds
3.5 Baths
2,024 SqFt
Status Active
MLS # 6762739
Property Type Single Family Residence
Price Type --
Move in FAST to this completed home! Say hello to luxury, Maricopa! This captivating Flagstaff floorplan features an expansive great room, Media room, Extra Suite with kitchenette, and stunning kitchen appointed with stacked cabinetry, gas stove top, and double ovens! Relax in your Primary suite and resort like bath with freestanding tub. The great room and adjacent patio are ideal for hosting gatherings. The tandem 4 car garage is perfect for storing offroad toys! With 10ft ceilings, 8ft doors, and 8,750 sq ft homesites, come see why K. Hovnanian is the First Name in Lasting Value! ^^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

16711 W Saguaro Park Lane Surprise, AZ 85387

$614,990
4 Beds
3.5 Baths
2,664 SqFt
Status Active
MLS # 6767427
Property Type Single Family Residence
Price Type --
Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. This Parklane floorplan offers 4 bedrooms, 3.5 baths, a garage extension, and a glass no-step walk-in shower. Notable features include 8' interior doors, built-in appliances, granite kitchen countertops, and gas stubs in the kitchen, backyard for BBQ, and laundry for a gas dryer.

32018 N 117th Avenue Peoria, AZ 85383

$614,990
4 Beds
3 Baths
2,012 SqFt
Status Active
MLS # 6755506
Property Type Single Family Residence
Price Type --
Larkspur - 4 bed/3 full baths. Stainless steel gas appliance package with 36'' cooktop, wall oven, microwave, glass canopy hood. Sonoma Maple Linen-off white cabinets with black hardware, 42'' kitchen uppers. Upper and lower cabinets at owner's entry, and cabs in laundry room. AZT Steel gray granite tops in kitchen and all baths. Upgrade flooring - Mohawk Wood laminate Driftwood in all areas except beds & closets and so much more. Amenity Rich Mystic includes a Resort Style community pool, Rec center with year-round events, Hiking paths & community parks. The perfect location- close to shopping, restaurants, golf, Lake pleasant and the loop 3. PHOTOS OF THIS LISTING ARE OF THE CLOVER MODEL HOME.

2212 W Chisum Trail Phoenix, AZ 85085

$614,990
3 Beds
2.5 Baths
1,976 SqFt
Status Active
MLS # 6784079
Property Type Single Family Residence
Price Type --
Welcome to the Perata plan, a 3 bedrrom, 2.5 bathroom floorplan offering 1,976 square feet of elegant living space with a charming Farmhouse exterior with artificial turf in the front yard enhancing the home's curb apeal. As you step onto the pavers at the covered entry, you'll immediately appreciate the attention to detail in every corner of this beautifully crafted home. Stepping into the home, the white paint grade mission stair rail adds a touch of traditional craftsmanship while the 8' interior doors adorned create a sense of grandeur. This home's kitchen and greatroom open to a spacious outdoor space with a gas stub for BBQ ensuring the possibilities of effortless outdoor entertaining. The heart of the home, the kitchen, features stainless steel GE appliances including a 36'' chimney hood, a built-in gas cooktop with five burners, and a built-in wall oven and microwave with trim kit. There are white-painted 42 upper shaker cabinets at the kitchen perimeter and shale cabinets at the island with satin nickel and matte black hardware. A large single basin stainless steel sink with a Moen stainless steel kitchen faucet completes this chef's dream kitchen. All bathrooms feature Moen Eva 8 widespread brush nickel premium faucets. The bathrooms continue the theme of elegance with shale painted shaker cabinets and crisp white cultured marble tops with rectangular sinks. Throughout the downstairs, bath 2 and the laundry upstairs, you'll find durable 6x36 Natural wood look tile, while the primary bathroom boasts a serene 12x24 AZ Futura Tile in the shade Ivory which compliment the enlarged primary bath shower with white cultured marble surrounds and 3/8 glass, perfect for unwinding after a long day. All flooring is elegantly trimmed with upgraded 4 ¼ baseboards. This home is complemented by a soft water loop located in the garage for added convenience. Union Park offers Tree-lines streets, pedestrian-friendly sidewalks and 5,500 sq ft recreation center with resort style pool and kiddie pool, shared ramadas, parks, gathering areas, pickleball courts and basketball. Close to I-10 and 303. Walking distance to restaurants, movies, entertainment, and shopping.

3043 E Rose Lane Phoenix, AZ 85016

$614,900
2 Beds
2 Baths
1,185 SqFt
Status Active
MLS # 6696353
Property Type Townhouse
Price Type --
This charming, newly renovated 2 bed, 2 bath townhome is situated on the prestigious Biltmore golf course and offers amazing views and amenities. The kitchen opens to the family room overlooking the patio and course. The bedrooms and baths are separated offering privacy. The community offers a swimming pool, spa, guard gate and tennis court. Plenty of room for parking between the single private garage and the covered public one.

21225 W Wilshire Drive Buckeye, AZ 85396

$614,900
4 Beds
2.5 Baths
2,322 SqFt
Status Active
MLS # 6713534
Property Type Single Family Residence
Price Type --
Picture yourself enjoying the fall sunsets on your private patio next to your heated pool, perfect for entertaining family and guests, or maybe just your own quiet time This stunning 4-bedroom, 3-bathroom gem with a den features a modern design and an open floor plan, perfect for both family life and entertaining. The gourmet kitchen is a chef's delight, boasting contemporary appliances, a large island, sleek tile backsplash, quartz countertops, and ample cabinetry. Step outside to your private oasis with a fully landscaped yard and a luxurious heated pool, perfect for year-round enjoyment. The home also offers a three-car tandem garage, solar system for energy savings, and double gates to conveniently park your toys. Nestled on a desirable corner lot, this home is an absolute must-see

3415 Phantom Street Wickenburg, AZ 85390

$614,900 - 2Br/2Ba -  for Sale in Wickenburg Ranch, Wickenburg
Open House
$614,900
2 Beds
2 Baths
2,012 SqFt
Status Active
MLS # 6779421
Property Type Single Family Residence
Price Type --
Highly upgraded Home located at Wickenburg Ranch an Active Adult Community! • Corner Multi-slider Door. • R/O & H2O softener • Oversized-Secluded Private Backyard with extended Travertine Patio with built-in firepit table. • 4-foot Garage Extension with Epoxy Coating Additional upgrades added after close valued at $100k +. Additional features include The Luminette Windows blinds, Hunter shutters throughout. Rain gutters. Laundry cabinets, desk, new kitchen backsplash and much more!

3948 E Gold Mountain Avenue San Tan Valley, AZ 85143

$614,857
4 Beds
3 Baths
3,146 SqFt
Status Active
MLS # 6776756
Property Type Single Family Residence
Price Type --
Enchanting new home featuring designer selections, a split floor plan, and north/south exposure. Located in Bella Vista Farms, homeowners have access to their community pool and playground. The kitchen boasts a GE Executive kitchen appliance package including double ovens and a gas cooktop, there are also Delta Terra Quartz Zinc countertops and Aristokraft 42'' cabinets in Benton White. Other highlights in the home include a frameless walk-in shower at the primary suite and Vicinity White 6 x 36 Matte Wood like tile flooring. Utilities for this home include: Mesa Gas, EPCOR Water, and Rural Metro.

4321 Sawbuck Way Wickenburg, AZ 85390

$614,595
3 Beds
2 Baths
1,828 SqFt
Status Active
MLS # 6770394
Property Type Single Family Residence
Price Type --
Flourish, Homestead, 2 bed 2 bath, Design materials and selections made personally by the talented Shea interior design team, Induction builtin appliance package, matte black accents throughout, heavy glass enclosure at primary bath, upgraded quartz counters at kitchen and both bath, custom designed mosaic tile at kitchen and both bath, cabinet pull outs and recycling with pull out drawers under cooktop, service door at garage, 15ft sliding wall of glass at living room, upgraded electrical throughout, over $23,000 in upgraded tile flooring throughout the house, 4ft garage extension, custom landscape and irrigation at front and back, under cabinet lighting at kitchen. Discover current incentives at Shea sales office.

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