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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6108 W Stony Quail Way Florence, AZ 85132

$609,900
2 Beds
2 Baths
2,067 SqFt
Status Active
MLS # 6770315
Property Type Single Family Residence
Price Type --
SUN CITY ANTHEM at Merrill Ranch 5 years new. Southeast facing - Energy Efficient HERS 55 rating - 2 bdr + den Large corner lot block privacy wall - 10 foot ceilings WiFi ceiling extendrs. Custom window coverings throughout - Main Bth has huge walk in shwr. Bay Windows kitchen & main bdrm- Upgraded Kitchen Granite Counters w/Chef Lux Alder Cabinets soft close drawers-dual flush toilets - Ceiling fans in all rooms & patio. Total home AquaSana million gal water filtration system. Custom Pool 36' x 19' w/Travertine deck rock waterfall + UltraTemp Pool Heater 145K BTU. Epoxy coating in entryway, patio & garage 4 ft garage extension & workshp area w/service door & utility sink Pavers on driveway & walkway, Seamless rain gutters. Some home furnishings may be available for purchase

13431 W Los Bancos Drive Sun City West, AZ 85375

$609,900
2 Beds
2 Baths
2,423 SqFt
Status Active
MLS # 6784214
Property Type Single Family Residence
Price Type --
Welcome to serene living nestled within the prestigious gated community of Corte Bella Country Club. This elegant detached single-family home is a sanctuary of comfort and style, perfect for those seeking leisure in an exclusive setting. With an expanded Cambria floor plan, this home offers a unique blend of space and sophisticated design ideal for those who value both functionality and luxury. The home features two spacious bedrooms, with a bonus room that can effortlessly transform into a third bedroom or a private home office, depending on your needs. The heart of this home is its chef's kitchen, designed for culinary enthusiasts. Enjoy the convenience of double ovens, a new refrigerator, built-in microwave, and thoughtfully upgraded cabinets with pullouts. Adjacent lies a butler pantry for added storage and efficiency, flowing into a formal dining room that promises memorable gatherings. A separate laundry room adds to the home's functionality, making everyday tasks a breeze. With recent upgrades like new A/C units, furnaces, hot water tank, recent roof inspection and more, this home offers modern comfort with peace of mind. The expansive 22' x 31' garage includes a workshop area and golf cart parking, catering to hobbies and hobbies alike. Outdoors, an extended double covered patio overlooks lush landscaping, creating a private oasis for relaxation or entertaining. This outdoor living space feels like an additional room to the home. Life in Corte Bella extends beyond the home, offering access to a private fitness center, indoor spa, outdoor heated pool and spa, and beautifully maintained courts for tennis, pickleball, and bocce ball. Golf enthusiasts will appreciate the on-site course, and residents the community's renovated restaurants invite you to dine without venturing far. Convenience is at your doorstep, with key community amenities just a short distance away. Embrace an active lifestyle or enjoy the tranquility of this exclusive community and embrace the ease with its move-in ready condition.

25125 N 171st Lane Surprise, AZ 85387

$609,328
5 Beds
4 Baths
3,185 SqFt
Status Active
MLS # 6762106
Property Type Single Family Residence
Price Type --
MLS#6762106 January Completion! The versatile Victory floor plan at Asante boasts an open-concept design, where the kitchen seamlessly connects to the great room, complemented by a nearby dining area. The first-floor primary suite offers a spacious walk-in closet and a well-appointed bath. The main level also includes a full bathroom, an additional half bath, and a flexible space perfect for a home office or playroom. Upstairs, you'll find secondary bedrooms, a full bathroom, ample storage, and a loft, providing additional space for relaxation or entertainment. Structural options added include; Gourmet kitchen,12' x 8' sliding glass door, paver front porch and walkway, bedroom 5 with bath 4, and garage service door.

22450 E Duncan Street Queen Creek, AZ 85142

$609,000
4 Beds
2 Baths
2,588 SqFt
Status Active
MLS # 6734137
Property Type Single Family Residence
Price Type --
Experience the perfect blend of comfort, style, and convenience in your new home where your next chapter begins! This stunning residence offers over 2,550 sq ft of luxurious living space. The heart of this home is the contemporary kitchen, boasting an extended granite countertop and island, providing ample space for cooking and entertaining. Storage is plentiful, ensuring that everything you need is within easy reach. Experience seamless indoor-outdoor living with the impressive 3-panel sliding glass doors, allowing you to entertain. The thoughtfully designed community area is perfect for social gatherings and creating lasting memories.

4585 San Cristobal -- Sierra Vista, AZ 85635

$609,000
4 Beds
3 Baths
2,629 SqFt
Status Active
MLS # 6736231
Property Type Single Family Residence
Price Type --
Welcome to 4585 San Cristobal! This beautiful custom home is perfect for those who love to entertain. The spacious great room is perfect for gatherings of all kinds, and the formal dining room is ideal for more intimate occasions. The kitchen is a chef's dream, with granite countertops, stainless steel appliances, and a walk-in pantry. The master suite includes a large walk-in closet, dual sinks in the bath, and an oversized tub. The 4th bedroom would make a great in-law suite or guest quarters, it is split and has its own bathroom. Need a 5th bedroom? This plan has also been built with a 5th bedroom where the formal dining room is located! The large, covered patio at the back of the house is the perfect place to sit and enjoy your morning coffee decompress at the end of the day. The four-car attached garage with built-in storage shelves and extra workspace is perfect for the hobbyist or car enthusiast. Come see everything this amazing home has to offer today!

7527 E Elderberry Way Gold Canyon, AZ 85118

$609,000
4 Beds
3 Baths
1,900 SqFt
Status Active
MLS # 6753890
Property Type Single Family Residence
Price Type --
Welcome to your new AZ home! Everything is here (except your personal belongings & items to fill kitchen cupboards). 3 bedroom (split floorplan) & 2 bath home has ALL the furniture & appliances included PLUS comes with a 1 bedroom / 1 bath casita with it's own entrance making it a total of 4 bedrooms/3 bath home. Owners have been diligent about upgrading & maintaining their winter home(used approx. 3 months a year). Kitchen has granite counters & newer appliances. Garage has built in cabinets, sink, overhead storage racks, water softener, & epoxy flooring. Enjoy the gas fireplace on those chilly nights or mornings, and when outdoors, enjoy entertaining outdoors by the gas firepit , cooking by the grill, or just enjoying the view. List of improvements in document section.

1710 W Winchester Way Chandler, AZ 85286

$609,000
3 Beds
2 Baths
1,808 SqFt
Status Active
MLS # 6757286
Property Type Single Family Residence
Price Type --
EXCEPTIONAL SO CHANDLER BEAUTY in the coveted, Master Planned Community of Silverton Ranch! Buy now & move in before the Holidays! This 1-Story Home has been Meticulously Cared for & Upgraded. 3Bed+Den/ Office/ Library ( easy to make this a 4th Bedroom) NEWER Upgrades&Improvements: Wood-look Tile Plank Floors., Cabinets, Appliances, Granite, Ceiling Fans, Baseboards, Door Hardware, Window Treatments, Master&Guest Baths, Interior /Exterior Paint, Water Heater, Video-recording Doorbell. Backyard: Irrigation piping conver. + multi-port emitters, Shade, Pavers, Raised Garden., Vrble Spd Pool Pump. Artif Turf so you can enjoy your yard w/ easy-care Landscape. All this & more makes this your perfect Staycation Home! Conveniently located to many So Chandler great Amenities. See Photos!

32828 N 228th Drive Wittmann, AZ 85361

$609,000
4 Beds
2 Baths
1,403 SqFt
Status Active
MLS # 6757577
Property Type Single Family Residence
Price Type --
Set on a full acre, this 4-bedroom, 2-bathroom home is a striking combination of modern updates and rural charm. With a 2023 refresh that includes new flooring and updates to the kitchen and bathrooms, the interior feels fresh, cool, and contemporary. The open floor plan flows effortlessly, creating a spacious and inviting atmosphere that's perfect for both entertaining and everyday living. The property is ideal for those with hobbies or larger projects, featuring a massive 30' x 50' x 14' detached, insulated shop, fully equipped with electrical and offering 10' x 10' and 10' x 12' doors, providing ample room for up to six vehicles or larger equipment. The 10' x 16' wood shed with a window AC unit adds additional functional space, perfect for storage or a small workshop. Backing up to... state trust land, this property offers expansive views and exceptional privacy. For pet owners, the fenced dog yard includes a dig-proof kennel, giving peace of mind and security for your pets. This home perfectly blends modern conveniences with the freedom and space of rural living, offering a lifestyle that's as practical as it is peaceful.

1609 E Montecito Avenue Phoenix, AZ 85016

$609,000
3 Beds
2 Baths
2,362 SqFt
Status Active
MLS # 6759860
Property Type Single Family Residence
Price Type --
This stunning property is nestled in the desirable Biltmore/Camelback corridor and is surrounded by an array of shopping options, and some of the city's finest restaurants. This beautifully designed two-story residence features three spacious bedrooms and two bathrooms, providing ample space for relaxation and privacy. The master bedroom is conveniently located on the first floor. The property boasts modern finishes and an open floor plan that enhances its inviting atmosphere, with a stylish kitchen, bright living spaces, and a lovely outdoor space, perfect for family gatherings or the addition of a pool. Large laundry with ample storage. Two car carport with a Tesla charging station. Easy access to highways and public transpiration. Do not miss this one!

7632 E Bonita Drive Scottsdale, AZ 85250

$609,000
3 Beds
3 Baths
2,026 SqFt
Status Active
MLS # 6763467
Property Type Townhouse
Price Type --
*AMAZING Villa Monterey Home *Three Bedrooms, three bathrooms, over 2000 square feet of space *COVETED DOUBLE CARPORT! *Low HOA fee of just $650 annually! *Scottsdale Historic District *Age 55+ Community *REMODELED KITCHEN with maple cabinets, GRANITE countertops, granite backsplash, NEWER APPLIANCES *Main level features spacious living room, in-ceiling lighting, formal dining space, breakfast nook, laundry utility room, primary bedroom & full bath, additional bedroom and hall bath *Upper level features loft style bedroom, full bathroom, balcony with mountain views, walk-in closet and BONUS SPACE (can be used as office, hobby area, pet area) *Wood laminate flooring *CONVENIENT door from living room to primary bedroom suite * *Large laundry room with extra storage and side-by-side washer dryer which conveys! *Pretty PANED WINDOWS on back of home *Super nice north facing covered patio mature citrus tree, PAVERS and two fans *Home is in great condition and has been VERY WELL MAINTAINED by owners of many years *Sparkling community pool & spa *Minutes to Fashion Square Mall, Scottsdale's Waterfront, Old Town Scottsdale, Fifth Avenue Shops & Galleries, Spring Training Venues, fine and casual dining venues and SO MUCH MORE!

1449 W Islandia Drive Gilbert, AZ 85233

$609,000
3 Beds
2 Baths
1,846 SqFt
Status Active
MLS # 6768896
Property Type Single Family Residence
Price Type --
Move-in ready! Fantastic opportunity to own this wonderful 3-bed, 2-bath home with a sparkling pool! Great curb appeal with nice desert landscaping, a covered front porch, and a 3-car garage. The welcoming interior offers a spacious living & family room, soaring vaulted ceilings, soothing palette, ceiling fans, soft carpeting, archways, a wood-burning fireplace, and beautiful laminate flooring. The kitchen is fully equipped with sleek granite counters, a mosaic tile backsplash, track lighting, lots of white cabinetry with crown molding, and two windows with great views of the backyard. Don't forget about the large dining area with a bay window perfect for entertaining family & friends. The main bedroom offers an ensuite bathroom with a separate tub & shower, dual vanities, and a walk-in closet. The remaining bedrooms are an ample size and share the hall bathroom. Laundry inside with utility sink. Enjoy the outdoors with a large covered concrete patio, artificial turf, additional desert landscaping and a refreshing pool. Make this gem yours today! The exterior of the home was painted in 2023.

35508 N Tin Court San Tan Valley, AZ 85144

$608,995 - 4Br/3Ba -  for Sale in The Preserve San Tan - Unit 2a, San Tan Valley
New
$608,995
4 Beds
2.5 Baths
2,433 SqFt
Status Active
MLS # 6784991
Property Type Single Family Residence
Price Type --
*Home is still Under Construction* This beautiful home was crafted for the way you live. The foyer welcomes you with stunning views of the main living space and rear yard. The open-concept kitchen provides connectivity to the great room area with prime access to the outdoor patio. The backyard retreat is perfect for activities, complete with a stacking door system. The resort-style amenities in this community will make your family feel they're on vacation year-round. Come experience your dream home today!

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