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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16029 E Rancho Laredo Drive Scottsdale, AZ 85262

$575,000
4 Beds
2 Baths
1,795 SqFt
Status Active
MLS # 6781610
Property Type Single Family Residence
Price Type --
Welcome home to your brand new 4 bedroom 2 bath 2024 new build! This spit open floor plan features quartz countertops, wood cabinets, custom tile showers and synthetic stucco finish. With NO HOA and an acre of land, your backyard is a blank canvas for outdoor serenity. This home is signed up with Epcor for water to ease your mind. Don't miss out on this great opportunity.

31344 S Eastview Road Marana, AZ 85658

$575,000
3 Beds
2 Baths
1,959 SqFt
Status Active
MLS # 6787390
Property Type Single Family Residence
Price Type --
Beautiful home on 10 acres of land! This rare find is remote, yet very nicely finished. At 1,959 sqft, this 3 bed, 2 bath 2014 custom build has plenty of space. It is entirely off-grid, with a private well and solar power with battery bank. The mountain views are breathtaking, and can be seen from nearly every window and both balconies. The lot is also uniquely situated with enough room for another dwelling. Enjoy the views and abundant wildlife during the day, and the fireplace, outdoor firepit, and stars in the evenings. This home is in a private, gated, and fenced community with very few neighbors, lots of space, and no HOA. The home is down a long dirt road, and downtown Marana and the comforts of city living are about 35-45 minutes away, making this a true getaway.

35938 N 138th Place Scottsdale, AZ 85262

$575,000
3 Beds
2.5 Baths
2,138 SqFt
Status Active
MLS # 6782719
Property Type Single Family Residence
Price Type --
Nestled on a spacious 1.25-acre lot, this charming 2,138-square-foot home offers the perfect blend of comfort, tranquility, and outdoor adventure. Surrounded by natural beauty, the property provides ample space for relaxation and recreation, while being just moments away from scenic hiking trails that wind through breathtaking landscapes. The home's inviting floor plan features generous living spaces with large windows that frame stunning views of the surrounding countryside and sky. Whether you're enjoying the crisp air from the patio, stargazing under the expansive night sky, or exploring the nearby trails, you'll feel a sense of peace and connection with nature at every turn.

2849 N Heritage Street Buckeye, AZ 85396

$575,000
5 Beds
3.5 Baths
2,975 SqFt
Status Active
MLS # 6724962
Property Type Single Family Residence
Price Type --
Exceptional housing opportunity in the sought-after Verrado community! This nearly 3000 sq. ft. property features 4 bedrooms and a loft. It includes a rare 440 sq. ft. casita with a private entrance—ideal for extra rental income. The main house boasts durable wood and tile flooring, a well-appointed kitchen with granite countertops and brand new stainless steel appliances. The master suite offers a garden tub, separate shower, private toilet room, and walk-in closet. Fully paid-off solar panels reduce energy costs. Currently rented until May 2025, ensuring immediate rental income. The newly renovated casita adds tremendous value to this home. Don't miss this turn-key investment in Verrado!

1 E Lexington Avenue Unit 1101 Phoenix, AZ 85012

$575,000
2 Beds
2 Baths
1,261 SqFt
Status Active
MLS # 6720258
Property Type Apartment
Price Type --
Urban luxury living at your oasis in the city with million dollar views from the 11th floor of One Lexington, the premier high rise community in downtown Phoenix. This loft style contemporary is spacious and bright with floor to ceiling glass that capture dramatic views of the Phoenix City scape, along with picturesque surrounding mountain views. The kitchen is sleek and opens onto the main living space with custom cabinetry, stainless steel appliances and ample storage space. The primary bedroom windows frame the city beyond and the spa like bath has dual vanities, a soak tub, walk in shower and roomy closet space. The secondary bedroom offers flexibility and additional opportunities for endless sunsets and desert night skies.Amenities include front desk staff, a heated resort style pool and spa, built in outdoor grills, a full gym facility with free weights and a club lounge for special events, along with a dog run for your urban city furry friend. The unit has 2 assigned gated parking spaces, as well as a separate lockable storage locker. Walk or ride the light rail to sporting events, dining, theater, opera and museums: all within walking distance of your desert city oasis. Go to our website for more information.

23038 E Twilight Drive Queen Creek, AZ 85142

$575,000
3 Beds
2 Baths
2,243 SqFt
Status Active
MLS # 6763396
Property Type Single Family Residence
Price Type --
Welcome to your New Home in the prestigious master-planned lake community of Harvest Queen Creek! This beautiful property has over $40k in builder & seller upgrades! It features an open floor plan with 3 bedrooms, 2 bathrooms, and a versatile flex space perfect for a playroom, office, or teen retreat. The Great Room is highlighted by a builder-upgraded kitchen, complete with a gas range, an oversized island, and tasteful Roman shade window coverings. Modern light fixtures and ceiling fans add elegance and comfort throughout the space. Expansive 12-foot sliding doors open to an extended covered patio, overlooking one of the largest lots in Hacienda at Harvest, spanning 8,281 square feet. The Primary Suite offers privacy with a split-floor layout, featuring a spacious walk-in shower and a walk-in closet. Both secondary bedroom include walk-in closets and share a full bathroom. The home's exterior has an upgraded paver driveway, walkway, and entrance, leading to a 3-car tandem garage equipped with a commercial-grade, non-slip floor, backed by a lifetime warranty. As part of the Harvest community, you'll enjoy access to a variety of amenities, including a heated pool, children's playground, and scenic walking and biking paths around the catch & release lake. The home is within walking distance to Schnepf Elementary and is conveniently located near shopping, dining, and fun seasonal events. This property is a blank canvas, ready for you to transform into your dream indoor-outdoor oasis. Refrigerator, Washer, and Dryer are included! The Seller is willing to install rocks at backyard for the right Buyer.

4115 S 75th Drive Phoenix, AZ 85043

$575,000
4 Beds
2 Baths
2,170 SqFt
Status Active
MLS # 6733896
Property Type Single Family Residence
Price Type --
Come take a look at this amazing home. It could be YOUR New Home Sweet Home. It is a corner lot with an oversize lot and huge backyard. You will appreciate the great curb appeal and attractive landscaping when you pull up. It has a split floor plan with 3 spacious secondary bedrooms on one side of the home and the primary bed on the other. Your new kitchen offers a breakfast bar, granite countertops, tile backsplash, and a ton of cabinet storage space. You will spend a lot of time in the oasis of a backyard which has covered patio, dog run, covered gazebo with built in BBQ, sparkling swimming pool, RV Parking, and a ton of room to play and entertain. You don't want to miss out on this amazing home so hurry and come take a look! You will love it.

6841 N 15th Place Phoenix, AZ 85014

$575,000
3 Beds
3 Baths
2,125 SqFt
Status Active
MLS # 6783194
Property Type Single Family Residence
Price Type --
LOCATION, LOCATION, LOCATION. THIS 3 BEDROOM 3 BATH HOME IS READY FOR YOUR PERSONAL TOUCHES. INTERIOR FRESHLY PAINTED, TILE IN ALL ROOMS EXCEPT ROOM OFF OF LAUNDRY, PROPERTY HAS GREAT VEIWS OF THE MOUNTAINS. LARGE FENCED BACKYARD WITH COVERED PATIO, STORAGE, AND MATURE TREES. CLOSE TO SHOPPING, DINING AND ENTERTAINING AS WELL AS EASY ACCESS TO PUBLIC TRANSPORTATION

18720 E Via Laguna -- Rio Verde, AZ 85263

$575,000
3 Beds
2 Baths
1,799 SqFt
Status Active
MLS # 6744613
Property Type Single Family Residence
Price Type --
Come enjoy resort style living in this sunny, turn key 3 bed/2 bath home nestled into a very quiet street in the active adult, golf community of Rio Verde. Incredible views of green fairways on Quail Run and the majestic Mazatzal Mountains from your very private North facing back patio. Plenty of room for outdoor entertaining on the extended, fenced in patio area. Wood burning fireplace to take the chill off a cool desert night. Eat in kitchen with separate dining area. Community lap and social pool, tennis and pickleball courts, billiards room, two clubhouse restaurants and our new community café/bodega next to the post office as a fun meet up place for breakfast and coffee. golf membership information upon request.

39920 N River Bend Road Phoenix, AZ 85086

$575,000
5 Beds
2.5 Baths
2,168 SqFt
Status Active
MLS # 6747304
Property Type Single Family Residence
Price Type --
Your search is over!! LEASE TO OWN OR SELLER FINANCING with 0% DOWN and NO BANK QUALIFING!! This Beautiful 4 bedroom + office and loft RECENTLY REMODELED home is available in the much sought after community of Anthem. The kitchen has all new stainless steel appliances and new quartz counter tops. The primary suite has a large walk in closet, spa like bathroom with dual sinks with new quartz countertops and fixtures. The other three spacious bedrooms have new plush carpet and paint. The backyard is fully landscaped in an easy maintenance desert theme including a beautiful large custom fireplace feature. This truly is a MUST SEE! (please see documents for a complete list of remodeled features and Seller Financing Details) The backyard is fully landscaped in an easy maintenance desert theme including a beautiful large custom fireplace. This truly is a MUST SEE! (please see documents for a complete list of remodeled features and Seller Financing Details)

1411 N Overfield Road Casa Grande, AZ 85194

$575,000
4 Beds
3 Baths
3,000 SqFt
Status Active
MLS # 6765465
Property Type Single Family Residence
Price Type --
Home on approx 1/2 acre $575,000, Home with 1 acre pasture, $650,000 LOT SPLIT IN ESCROW Seller will provide water from well located on the adjacent property.

3616 E Ludlow Drive Phoenix, AZ 85032

$575,000
3 Beds
2 Baths
1,426 SqFt
Status Active
MLS # 6748475
Property Type Single Family Residence
Price Type --
Don't miss out on this large corner lot home with a huge 33,000 gallon diving pool, pavers, synthetic grass, and a built in BBQ in the backyard. Inside you'll find a lovingly cared for, fully remodeled home with tons of upgrades including custom white shaker cabinets in the kitchen and bathrooms. Kitchen has Quartz countertops, matching stainless steel appliances with stainless steel undermount sink. Barn door from dining room leads to a large laundry room with more than enough space to serve as a craft room or home office. Both bathrooms have beautifully tiled showers and entire home is tiled throughout for easy maintenance and upkeep. All doors and windows have been upgraded to dual pane for great energy efficiency. Great central location right off of the 51 and 101 Freeways.

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