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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11757 W Montana De Oro Drive Sun City, AZ 85373

$575,000
5 Beds
3 Baths
2,791 SqFt
Status Active
MLS # 6777966
Property Type Single Family Residence
Price Type --
Owned Solar! In the Dos Rios Neighborly Neighborhood! This spacious 5-bedroom, 3-bath home in Sun City is NOT in an age-restricted area, offering all the benefits of the thriving North Peoria community nearby. The main floor features a friendly layout with one bedroom and a full bath, plus a living room, family room, and dining area, while upstairs adds a versatile loft space. The low-maintenance turf yard and 3-car garage provides convenience and ample storage. Don't miss this exceptional opportunity!

7353 E Milagro Avenue Mesa, AZ 85209

$575,000
5 Beds
3 Baths
2,352 SqFt
Status Active
MLS # 6770673
Property Type Single Family Residence
Price Type --
Discover this beautifully updated 5-bedroom home, freshly painted and move-in ready. The expansive living area on the main floor provides an ideal space for hosting and gathering. Step outside to enjoy a meticulously landscaped backyard, complete with a sparkling pool, safely enclosed by a fence. Situated in a highly desirable location, this property is within walking distance to Monterey Park, Gilbert's top-rated schools, and offers easy access to major highways, shopping centers, and dining options. An opportunity like this is not to be missed!

4429 E Del Rio Drive San Tan Valley, AZ 85140

$575,000
4 Beds
2.5 Baths
3,460 SqFt
Status Active
MLS # 6767453
Property Type Single Family Residence
Price Type --
A beautiful 4 bed, 2.5 bath in Laredo Ranch is now for sale! Nestled on a premium corner lot and boasting great curb appeal, a manicured landscape w/lush natural turf, and a 2 car tandem garage! Come inside to discover spacious dining & living areas w/tile flooring and trending palette throughout. Prepare delicious meals in this chef's kitchen comprised of staggered cabinetry w/crown moulding, granite counters, mosaic tile backsplash, pendant lighting, stainless steel appliances, and an island complete w/a breakfast bar. Upstairs you'll find a sizeable loft w/soft carpet, where you can spend a relaxing Sunday evening! Double doors open up to the primary bedroom, showcasing a mirrored walk-in closet, and a full ensuite w/dual sinks for added comfort. Don't forget about the large media room w/custom coffered ceilings! Lastly, the expansive backyard includes a covered patio, mature shade tree, and a sparkling blue pool! This is sure to be the home you've been looking for, hurry and act now!

5023 E Desert Forest Trail Cave Creek, AZ 85331

$575,000
3 Beds
2 Baths
1,527 SqFt
Status Active
MLS # 6766899
Property Type Single Family Residence
Price Type --
Discover this modern, open-concept home featuring a spacious 15-foot multi-slider door that seamlessly connects to an extended, private covered patio—perfect for indoor-outdoor living. The gourmet kitchen boasts a large island, 42-inch Timberlake upper cabinets, granite countertops, and Whirlpool stainless steel appliances, ideal for cooking and entertaining. The split-bedroom floor plan offers a private master retreat, complete with 8-foot interior doors and stylish tile flooring throughout. Located near shopping, dining, and the best of Cave Creek living!

3031 E Colonial Place Chandler, AZ 85249

$575,000
3 Beds
2 Baths
2,170 SqFt
Status Active
MLS # 6787735
Property Type Single Family Residence
Price Type --
Welcome to this extraordinary home that boasts both charm and personality! The fabulous interior features vaulted ceilings, tons of natural light, elegant stained glass, gorgeous light fixtures, designer paint & distressed wood floors. With both a separate living/dining room combo, an open-concept family room, this gem has versatile spaces for relaxing & entertaining! The impressive kitchen boasts custom additions such as: coffee station, SS appliances, double ovens, metal stove hood, farm sink, island w/breakfast bar, stone counters & backsplash, roll out shelving, RO, walk-in pantry & antique white cabinetry w stained glass doors. The large main bedroom has a bay window, new carpet, an ensuite w/ dual sinks, separate tub/shower & walk in closet. New Trane HVAC system & ductwork 11/20. PLUS! One bedroom doubles as a den and offers a unique setup, currently serving as a rental with two bedrooms separated by a steel privacy door. This layout provides endless possibilities, whether for a roommate, private office, or in-law suite. Discover your private backyard retreat including a covered patio, pavers, and a Gazebo for entertaining. Home has a 220 electrical outlet ready for a hot tub. Also, there is a large side yard with lovely 8x6 storage shed. NO neighbors behind for added privacy & on a cul-de-sac lot!!! Don't miss this opportunity! New suncreens (7/20),new water heater (8/21), new dishwasher (2/24).

2809 N 70th Street Scottsdale, AZ 85257

$575,000
2 Beds
2 Baths
1,217 SqFt
Status Active
MLS # 6768285
Property Type Single Family Residence
Price Type --
VOTED BEST OUTDOOR SPACE-Scottsdale Tour! Where artistic design and nature combine. Large front and backyard with mature, low maintenance, desert acclimated flowering plants. Tasteful artistic design add to the serenity of the home. New roof, exterior paint, and natural gas heater/AC unit this year. Newer natural gas tankless water heater keeps utility costs to a minimum. Ready to move in and enjoy but plenty of space to add on should you desire.

1844 W Virginia Avenue Phoenix, AZ 85007

$575,000
3 Beds
2 Baths
1,750 SqFt
Status Active
MLS # 6770895
Property Type Single Family Residence
Price Type --
Charming 3-bed, 2-bath Home backed up to the beautiful Encanto Golf Course, this home offers breathtaking views! With new Anderson windows and a sliding door, plus custom stonework inside and out, this house blends elegance with durability. The AC system is only 2-3 years old and comes with a premium dust-collecting filter, an upgrade valued at $1,250. The kitchen floor is finished with luxurious Colorado stone, New dishwasher and washer ready to go. The property features beautiful landscaping, a large garage that fits both a sedan and a truck. New electrical box. All the fascia and soffits are covered, so you'll never need to repaint. Enjoy energy efficiency with awnings on all windows, and the monthly electric bill is just $168 for this all-electric home. Don't miss this opportunity!!!

624 Leisure World -- Mesa, AZ 85206

$575,000
3 Beds
2 Baths
2,269 SqFt
Status Active
MLS # 6782156
Property Type Single Family Residence
Price Type --
Beautiful home on the lake. Large open floor plan, lake views from the entrance. Two great patios for entertaining. Large 2 car garage as well as an additional door for your golf cart. Located in a quiet cul-de -sac in a central spot in Leisure World. This community is a safe, fun and clean place to live in full time or for your winter get away. All this in the Premiere Active Adult Community of Leisure World with 36 holes of private golf, new tennis complex, pickle ball, swimming pools, library, state of the art fitness center, theater, arts and crafts, billiard room, and much more!

8143 E Obispo Avenue Mesa, AZ 85212

$575,000
4 Beds
2.5 Baths
2,516 SqFt
Status Active
MLS # 6774113
Property Type Single Family Residence
Price Type --
Move in ready home in a super convenient location! Convenient floor plan with ample living space and large bedrooms w/ walk in closets. NEW Interior paint. Wood plank tile flooring and modern fixtures. Kitchen features granite counters, newer cabinets, custom tile backsplash, and stainless steel appliances. Bathrooms updated with custom tile showers, vanities, toilets, tile accents, and lighting fixtures. Lots of storage and indoor laundry room with large pantry. French doors lead to the spacious low maintenance grassy backyard with pool and covered patio & RV gate. Playset conveys with property. 1 New AC unit! Community park is 2 doors down. Did I mention the private pool? 2 doors down from a community park

23014 N 22nd Place Phoenix, AZ 85024

$575,000
3 Beds
2 Baths
1,554 SqFt
Status Active
MLS # 6775017
Property Type Single Family Residence
Price Type --
This is IT. The perfect home with an incredible location. With easy freeway access, lots of local parks and entertainment while still being situated in a nice quiet suburb. With a spacious 3 bedroom 2 bathroom floor plan with dining and entertainment space you will be ready to invite over all your guests. The pool and outdoor space is perfect with mountain views to relax and enjoy your new home. Only 12 minutes to Desert Ridge with dining, entertainment and shopping. Close enough to main freeways for an easy commute to Downtown, TSMC, or Scottsdale. This one is sure to check all your boxes! So go ahead and start packing them!

22850 E Calle Luna -- Queen Creek, AZ 85142

$575,000
5 Beds
3 Baths
2,311 SqFt
Status Active
MLS # 6779462
Property Type Single Family Residence
Price Type --
Beautiful one level 5 bedroom 3 bathroom home located in Meridian community which features a community park walking paths and community pool. Upgraded kitchen featuring stunning cabinetry granite counters mosaic backsplash black/stainless steel appliances gas range and a spacious island that fits 4 barstools & large pantry. Kitchen opens to the dining area & great room. Home has high ceilings tile flooring and recessed lighting throughout. The great room has a sliding glass doors leading to private backyard, plumbed with a gas line for outdoor cooking/barbecuing. Low maintenance front & backyard with paver boarders & paver walk path. 2 front side gates. Primary bedroom has walk in closet and walk in shower 2nd bedroom has private bathroom. Home has reverse osmosis and a water softener.

27602 N Denver Hill Drive Wittmann, AZ 85361

$575,000
5 Beds
3 Baths
2,278 SqFt
Status Active
MLS # 6778733
Property Type Single Family Residence
Price Type --
Welcome to your private desert retreat! A home that offers not just comfort and space, but a true sense of community in a peaceful neighborhood. Set on a quiet dirt road, this property is surrounded by friendly, welcoming neighbors and picturesque land with expansive mountain views. Both levels provide a cozy, private flow between the separate rooms. Designed to accommodate a range of outdoor interests, this property is ready for whatever you envision—from horseback riding, gardening, ATV trails, and more. An RV station with power and water hookups ensures guests can comfortably share in the beauty of this property. Located only 30 minutes from Wickenburg, and 20 minutes from Surprise, this home offers the perfect balance of rural living, without being a far drive from the city.

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