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.

What’s Your Home Worth?

Search for Your New Home

3033 E Millbrae Lane Gilbert, AZ 85234

$579,000
4 Beds
3 Baths
2,146 SqFt
Status Active
MLS # 6726711
Property Type Single Family Residence
Price Type --
MOVE-IN-READY!!! LOTS of CHARM & CHARACTER EVERYWHERE!!! This home is a MUST SEE!!! Full Bedroom & Bathroom DOWNSTAIRS!!! Upon entry, you're wowed by VAULTED CEILINGS, along with two separate living areas, a STUNNING KITCHEN overlooking the main living space, making this the PERFECT HUB OF THE HOME!!! Spend some time outback in your Sparkling POOL, or relax in tub HOT TUB, cook out in your BUILT-IN-BBQ, or even enjoy your very own PUTTING GREEN!!! This backyard is an Entertainer's Dream!!! Workbench area in garage, along with LOTS OF STORAGE!!! This home has it all!!! Home is steps away from a FANTASTIC park with playground area and Basketball courts!! Don't miss out on this one!!!

2319 E Earll Drive Phoenix, AZ 85016

$579,000
3 Beds
2 Baths
1,416 SqFt
Status Active
MLS # 6747987
Property Type Single Family Residence
Price Type --
Welcome to this freshly updated 3-bedroom, 2-bathroom gem close to all of the action of Arcadia and Central Phoenix! Boasting a modern, neutral aesthetic with designer touches throughout, it offers comfort and style at every turn. Enjoy outdoor living with covered patios in the front and back, a charming porch swing, and a generously sized backyard complete with a pool and firepit—perfect for entertaining. Additional features include a storage room off the 1-car carport. Conveniently located near freeways, restaurants, and shopping, Enjoy the freedom and flexibility of homeownership with no HOA restrictions.

25024 S Stoney Lake Drive Sun Lakes, AZ 85248

$579,000
2 Beds
2 Baths
1,968 SqFt
Status Active
MLS # 6750372
Property Type Single Family Residence
Price Type --
Welcome to this beautiful 2-bed, 2-bath Plus Office/Den residence on a coveted corner lot! The exterior boasts a striking stone facade, a 2.5-car garage, and a tasteful paver driveway. The inviting living room showcases vaulted ceilings, a soothing palette, and plush carpeting throughout. The eat-in kitchen comes with granite counters, ample wood cabinetry with crown molding, built-in appliances, a center island, and a serving window with a breakfast bar for casual dining. The cozy main bedroom offers direct backyard access, an en suite with dual sinks, and a walk-in closet. Venture outside to find a covered patio for al fresco dining, a relaxing spa, and a low-maintenance desert landscape. Don't miss out on this fantastic opportunity! HVAC - 2 Units- Replaced in 2021, Hot water heater replaced 2021, Exterior Painted 2023, New Drip system - valves & timer replaced 2023. Exterior Stone work & Pavers done in 2023. New SPA Hot Tub 2024 Hard wired Security System. Reverse Osmosis.

1509 E Peach Tree Drive Chandler, AZ 85249

$579,000
3 Beds
2 Baths
2,250 SqFt
Status Active
MLS # 6757886
Property Type Single Family Residence
Price Type --
Welcome home to this gorgeously redone 3BR 2BA home in the vibrant active adult community of Sunbird CC. A charming courtyard greets you. Enter a large living/dining area with wood look tile throughout. The stunning kitchen boasts granite counters, crisp white cupboards, bar and newer SS appliances. Large family room with access to the relaxing patio and backyard. Bonus art studio den just off the family room. Enjoy the active adult resort lifestyle with golf, pool, tennis and pickleball. Plus, restaurant, bar and loads of entertainment!

2511 W Queen Creek Road Unit 425 Chandler, AZ 85248

$579,000
3 Beds
3 Baths
1,584 SqFt
Status Active
MLS # 6755740
Property Type Apartment
Price Type --
Experience true luxury living in this stunning 2-bedroom, 3-bathroom loft-style residence located in the prestigious Cays Downtown. Boasting one of the best floor plans in the entire subdivision, this spacious and stylish home offers an open, modern layout with soaring ceilings, abundant natural light, and high-end finishes throughout. Loft used as 3rd room with murphy bed. Each bedroom features its own en-suite bathroom for ultimate privacy and comfort, while the third bathroom provides added convenience for guests. The sleek, contemporary design complements the vibrant downtown lifestyle, with easy access to upscale dining, shopping, and entertainment. Whether you're relaxing in the expansive living spaces or enjoying the urban energy of downtown, this home is the perfect blend of sophistication and convenience. Don't miss your chance to live in one of the most sought-after addresses at The Cays Downtown!

20597 W Walton Drive Buckeye, AZ 85396

$579,000
4 Beds
3 Baths
2,785 SqFt
Status Active
MLS # 6767346
Property Type Single Family Residence
Price Type --
Beautiful 4/3 Craftsman home in Verrado. Great location with tree lined streets and close to park. Relax on beautiful patio in this welcoming community.

233 E Angela Drive Phoenix, AZ 85022

$579,000
3 Beds
2 Baths
1,808 SqFt
Status Active
MLS # 6774515
Property Type Single Family Residence
Price Type --
This charming home features three bedrooms and two bathrooms, providing ample space for family or guests. The updated kitchen boasts modern amenities, making meal preparation a joy. All the windows are energy-efficient low-E windows, complemented by new doors throughout the home. Two of the bedrooms are particularly spacious, with the master bedroom offering a large walk-in closet for plenty of storage. The master bathroom includes a beautifully tiled walk-in shower, adding a touch of luxury. For those who work from home, there's a dedicated office space, perfect for productivity. The family room is a cozy retreat, complete with vaulted ceilings and a warm fireplace for those chilly evenings. Step outside to a backyard oasis, where a sparkling pool invites relaxation. The expansive covered patio offers a fantastic space for outdoor living and entertaining, with a lush grass area and a paver front entry adding curb appeal. Additionally, art lighting highlights your favorite pieces, and a large laundry/storage room adds functionality to the home.

24612 S Starcrest Drive Sun Lakes, AZ 85248

$579,000 - 2Br/2Ba -  for Sale in Sun Lakes Unit Thirty-six A, Sun Lakes
Open House
New
$579,000
2 Beds
2 Baths
1,679 SqFt
Status Active
MLS # 6789231
Property Type Single Family Residence
Price Type --
Experience modern living in this beautifully REMODELED home in the sought-after Oakwood Subdivision of Sun Lakes, AZ! This STUNNING property features a split floor plan, vaulted ceilings, and a spacious great room with ample natural light. The home boasts ALL-NEW tile flooring, plush carpeting in the bedrooms, and upgraded baseboards throughout. Both bathrooms have been completely remodeled with a fresh, contemporary design. This RARE backyard is SPACIOUS with no neighbors behind you, featuring brand-new pavers, artificial turf, and breathtaking sunset views from the covered patio. The master suite offers a large walk-in closet, double sink vanity, and a spacious shower, while the guest bedroom includes his-and-her walk-in closets. Don't miss the walking paths steps from your backyard!

21263 W Sycamore Drive Buckeye, AZ 85396

$578,999
4 Beds
2 Baths
1,903 SqFt
Status Active Under Contract
MLS # 6775817
Property Type Single Family Residence
Price Type --
Welcome to this beautifully designed 4 bedroom, 2 bathroom home located in the heart of Buckeye's highly sought after Verrado community. This home features an inviting open floor plan with soaring ceilings and plenty of natural light. The gourmet kitchen is perfect for the modern chef, offering granite countertops, matching appliances, a large island, and plenty of cabinet space. It flows seamlessly into the living and dining areas, making it perfect for entertaining. Step outside to enjoy the beautifully landscaped large low maintenance backyard, complete with a covered patio, perfect for outdoor dining and relaxing. Situated in the vibrant Verrado community, you'll have access to incredible amenities such as parks, community pools and spa, children's playground, walking trails, golf courses, and a bustling Main Street with shops and restaurants that is walking distance from the property! Top-rated schools and easy access to major freeways make this location unbeatable! Don't miss out on the chance to live in this highly desirable neighborhood! Buyers currently living in Maricopa or Pinal County ask about an ADDITIONAL $7,000 home buyer credit available via the Community Promise Program. Rate Relief Rebate Program: Benefit from a 2% seller credit to reduce your mortgage payments by Approximately $591/month in year 1 and $303/month in year 2. This exclusive offer makes homeownership more affordable now, while you await potential rate decreases.

16062 W Alameda Road Surprise, AZ 85387

$578,960
4 Beds
3.5 Baths
2,674 SqFt
Status Active
MLS # 6729568
Property Type Single Family Residence
Price Type --
MOVE IN READY, BRIGHT GREAT ROOM PLAN , QUICK CLOSE!! 4 BEDROOM PLUS LOFT, 3.5 BATH , 9'CEILINGS, GOURMET KITCHEN LAYOUT, UPGRADE CABINETS , GRANITE KITCHEN TOPS, SPA SHOWER, TILED FLOORING. 2'WHITE BLINDS, CEILING FANS, FRONT YARD LANSCAPING COMPLETED, ENERGY STAR QUALIFIED HOME, INDOOR AIR PLUS. A SHORT DISTANCE FROM THE COMMUNITY POOL AREA, PICNIC AREA, TOT LOTS, BASKETBALL, PICKLE BALL COURTSAND SO MUCH MORE.

3726 E Rochelle Circle Mesa, AZ 85215

$578,950
3 Beds
2 Baths
1,705 SqFt
Status Active
MLS # 6749729
Property Type Single Family Residence
Price Type --
This is a to be built home being offered at Base Price plus lot premium. Price includes a nice standard feature package and an option allowance to be used at the Design Studio to personalize the home to your tastes. Features include a heavy iron front door, 2x6 ext. framing, dual pane vinyl windows, Carrier gas furnace and AC. Price includes ceramic tile in select areas. Choice of interior door styles, iron front door styles plus choice of door hardware and bathroom fixture colors. 10' interior ceilings, front porch and rear patio included! Much more. Front view picture is of an artists rendering, pics are of a upgraded former model home. Final price is determined by any other options or upgrades added by buyer at the Design Studio. Taxes are estimated. 2025 completion

8572 W Palo Verde Avenue Peoria, AZ 85345

$578,900
5 Beds
2 Baths
2,196 SqFt
Status Active
MLS # 6731165
Property Type Single Family Residence
Price Type --
Welcome to your next business opportunity! This spacious 5 beds, 2 baths home with a sprinkler system is ideal for starting or expanding a group home business. Previously licensed for a 10-bed behavior group home, it offers ample room for residents with its professionally converted garage adding extra space. Located in a prime area with easy access to local amenities and healthcare facilities, Its turnkey nature allows for business operations, offering significant growth potential and profitability.

Leave a Reply

Your email address will not be published.