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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20287 W Catalina Drive Buckeye, AZ 85396

$569,990
4 Beds
3 Baths
2,510 SqFt
Status Active
MLS # 6783358
Property Type Single Family Residence
Price Type --
QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! Jade floor plan sitting on a LARGE LOT with over 10,250 SQ. FT and a 10' GATE in addition to the 4' gate. Brick pavers at drive, walk and entry. Multi slide door off the great room that leads out to the covered patio. Kitchen features include stainless steel gas appliance package with a 36'' cooktop, wall oven, Microwave, dishwasher and canopy hood. Barnett Latte stain cabinets with 42'' kitchen uppers, pull out trash drawer. AZT White Sands quartz countertops in and at enhanced countertop. White undermount single bowl sink. Dual sinks at bathroom 3. Upgrade flooring includes wood laminate in all areas of the home except for bedrooms and baths and so much more.

20131 W San Juan Avenue Litchfield Park, AZ 85340

$569,990
4 Beds
3 Baths
2,561 SqFt
Status Active
MLS # 6767689
Property Type Single Family Residence
Price Type --
QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! Cinnabar with an 8' gate. 4 bedrooms, 2.5 baths, study with double doors and formal dining. Front court yard. Pavers at drive, walk and entry. Multi slide door that leads out to your covered patio. Stainless steel gas appliance package with double oven, 36'' cooktop, microwave and glass canopy hood perfect for the cook in the family. Maple (Slate-gray) cabinets with 42'' kitchen uppers, pull out trash drawer and 3 drawers ILO of cabinets in kitchen. AZT Delta terra quartz linen countertops in kitchen and at the enhanced kitchen island. Flooring includes EWS Riverside Firenza 20x20 tile with 5'' baseboards and 3 1/4'' door casings. Dual sinks in bath 2, gas stub for future BBQ and so much more. Please verify all information with onsite agent . Thank you!

20095 W San Juan Avenue Litchfield Park, AZ 85340

$569,990
4 Beds
3 Baths
2,561 SqFt
Status Active
MLS # 6775719
Property Type Single Family Residence
Price Type --
QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! It's the stunning Cinnabar with 4 bedrooms + study, dining room, 3 full baths and 3 car garage. 8' gate for easy access to the backyard. Multi slide door that leads out the covered patio. Stainless steel gas appliances with 36'' cooktop, wall oven and canopy hood. Sonoma Maple Slate (Gray) cabinets with 42'' kitchen uppers, pull out trash drawer. Himalaya white granite countertops in the kitchen and at the enhanced kitchen island. Stainless steel single bowl undermount sink. Upgrade flooring includes EMS Baccarate 12x24 Astra tile in all areas of the home except bedrooms and closets. Dual sinks at bath 2. Soft water loop, garage service door, 8' tall garage door with two controls. Please verify all information with onsite agent . Thank you!

720 E Aurora Drive San Tan Valley, AZ 85140

$569,990
3 Beds
2.5 Baths
2,094 SqFt
Status Active
MLS # 6755660
Property Type Single Family Residence
Price Type --
Ready for a Quick MOVE-IN!! - This Santa Rosa plan offers 3 bedrooms, 2.5 baths, and a versatile FLEX room, perfect for a home office or peaceful retreat. Part of our signature Classics ''Looks'' interior collection, the kitchen boasts a spacious island with breakfast bar, White Cabinets, and Quartz Counters. The open great room and dining area flow seamlessly to an oversized covered patio, ideal for indoor/outdoor living. Enjoy the convenience of our unique HovHub with a built-in desk as a drop zone near the garage entry. The Primary suite features a luxurious resort-style bath and spacious walk-in closet. Up to 6% of Loan Amount 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.

274 S 164th Drive Goodyear, AZ 85338

$569,990
4 Beds
3 Baths
2,510 SqFt
Status Active
MLS # 6744181
Property Type Single Family Residence
Price Type --
QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! Very spacious Jade floor plan with 5 bedrooms, 3 baths and 3 car garage. Multi slide door off the great room. Bedroom #4 has it's own private full bath and walk in closet perfect for a guest suite. All secondary bedrooms have walk-in closets. Plenty of storage space. Large walk in shower at owner's bath. Pavers at drive, walk and entry. Stainless steel gas appliance package with 30'' cooktop, wall oven and canopy hood. Additional kitchen cabinets in Barnett Maple Boulder (Gray) with 42'' uppers and pull out trash bins. AZT Hana Sky quartz countertops in kitchen and the enhanced kitchen countertop. Upgrade flooring includes DT Broxburn Gray 6x24 plank tile in all areas of the home except bedrooms and closets. Please verify all information with onsite agent . Thank you!

4523 E Camino De Cafe -- Hereford, AZ 85615

$569,900
4 Beds
2 Baths
1,988 SqFt
Status Active
MLS # 6782421
Property Type Single Family Residence
Price Type --
Custom New Construction by Sun Canyon Homes. This home is located in the beautiful subdivision Ranchos San Pedro all home sites are up to one acre and have mountain views in several directions. This home has wood-look ceramic tile throughout, granite countertops, stainless appliances including refrigerator. Concert driveway to the street with plenty of parking in addition the 3car garage finished with epoxy floor finish. steal insulated garage doors withJackshaft Wifi openers. Large walk-in shower with double faucets. Built with high-quality construction materials. This home includes 2x6 exterior framing, Polyglass premium roof underlayment, R-21 open-cell foam insulation in exterior walls, and a Tyvek wrap vapor barrier for energy efficiency & durability plus a 2-10 Home Warranty.

17871 W Southgate Avenue Goodyear, AZ 85338

$569,900
4 Beds
3.5 Baths
3,232 SqFt
Status Active
MLS # 6734110
Property Type Single Family Residence
Price Type --
30 DAY QUICK MOVE IN!! ASK ABOUT OUR LOWER THAN MARKET FINANCING! BEAUTIFUL 2-STORY HOME* EN SUITE ON 1ST FLOOR* FLEX ROOM & LOFT* WHITE SHAKER CABINETS* WOOD-PLANK LVP FLOORING* QUARTZ COUNTERTOPS* END LOT* N/S FACING!!!

20314 N Wagner Wash Drive Buckeye, AZ 85396

$569,900
2 Beds
2.5 Baths
2,342 SqFt
Status Active
MLS # 6733834
Property Type Single Family Residence
Price Type --
**PREMIUM DESERT VIEW HOMESITE** This extended popular Refuge model includes the 4' garage extension and a 2' rear extension. Wonderfully appointed with a chef's kitchen, large pantry and two dens, each with glass French doors. Also, this home has 2 bedrooms, each with its own en-suite bath, plus a powder room for guests. Other add-ons include plantation shutters throughout, pre-wired surround sound, built in storage in garage, fully enclosed backyard, custom designed lighting and so much more!. Do not let this opportunity pass you by. Elegant French doors enhance the home's aesthetic appeal, adding a touch of sophistication to your living spaces. Step outside to your large covered patio, perfect for outdoor dining and relaxation. The electric sun screen provides shade and comfort, allowing you to enjoy the outdoor space year-round. Experience the best of active adult living in this exceptional home. Don't miss out on this opportunity!

5912 W Bushwood Way Florence, AZ 85132

$569,900
2 Beds
2 Baths
2,039 SqFt
Status Active
MLS # 6755790
Property Type Single Family Residence
Price Type --
ENJOY THE STUNNING VIEWS OF THE 8TH FAIRWAY of Poston Butte Golf Course with this gorgeous ''Pursuit'' model in Sun City Anthem at Merrill Ranch. This meticulously maintained home offers an abundance of upgrades that includes an outdoor living space that offers a paver entry w/sitting area, extended paver patio w/putting green, where all putts are good, and surrounded by beautiful landscape. Your new home is just as stunning inside with details that include upgraded LVP flooring throughout , reclaimed WY fence wood accent walls, French doors and Murphy bed for optional 3rd bedroom, simulated wood beam accents in great room and surround sound. Take advantage of the tremendous SOLAR SAVINGS w/23 panels producing 8.5kw of OWNED SOLAR and mini-split A/C in the garage. The Chefs kitchen... features true staggered upgraded cabinetry w/pull out shelves, pots/pans drawers, gas cooktop French door refrigerator, tiled backsplash, under cabinet and pendent lights over the spacious island. Additional features include a Roman walk-in shower with floor to ceiling tile in the primary en-suite, 4' extended garage and cabinets, epoxy garage floor, insulated garage, water softener, tankless water heater and a service door that leads to the exterior garbage corral. Some furniture available on a separate bill of sale...A MUST SEE HOME!! Merrill Ranch also offers the Anthem Grille, The Poston Butte Golf Club, a learning center and all the festivities, activities and amenities a Sun City community has to offer. Remember you are buying a lifestyle that goes beyond the homes property lines.

4043 N Smithsonian Drive Florence, AZ 85132

$569,900
3 Beds
2.5 Baths
2,467 SqFt
Status Active
MLS # 6762591
Property Type Single Family Residence
Price Type --
LOCATION, LOCATION, LOCATION! Enjoy the tour and views of this stunning 3 bedroom, 2.5 bath ''Endeavor'' model. The PREMIUM WASH LOT and outdoor living space offers gorgeous sunrises and private Sonoran desert views from the extended paver patio, surrounded by beautiful mature landscape. The home is just as beautiful inside with details that include a gourmet kitchen featuring upgraded staggered cabinetry w/roll-out trays, gas cooktop, beautiful granite countertops, tile backsplash, pendant lighting, RO system, water softener, tankless hot water, NEW A/C unit, impressive entry door, laundry/garage cabinets, entertainment center, solar and MUCH MORE! The primary suite features matching granite and cabinets, soaking tub w/separate shower and a large walk in closet. A MUST SEE HOME! Enjoy our Anthem Grille, The Poston Butte Golf Club, a learning center and all the festivities, activities and amenities a Sun City community has to offer. Remember you are buying a lifestyle that goes beyond the homes property lines.

2044 W Trotter Trail Phoenix, AZ 85085

$569,900
3 Beds
2.5 Baths
1,942 SqFt
Status Active
MLS # 6770717
Property Type Single Family Residence
Price Type --
Modern home located in the highly sought after north Phoenix community of Union Park At Norterra. Home is only 5 years old w/ desirable open floor plan & great room feel. Upgraded gourmet kitchen has breakfast island, gas cook top & walk-in pantry. Large primary suite features dual vanities, oversized shower and spacious walk-in closet w/access to laundry room located on 2nd floor and the low maintenance yard has artificial turf & water fall. Conveniently located near DVUSD K-8, shopping & dining at Shops at Norterra, close to TSMC and has easy access east to Scottsdale or north to Sedona/Flagstaff via nearby I-17 & 101 Hwys. Friendly community w/resort-style heated pool & kids play pool, playgrounds, dog park, pickle ball & basketball courts too.

4196 E Bonanza Road Gilbert, AZ 85297

$569,900
4 Beds
2.5 Baths
2,257 SqFt
Status Active
MLS # 6772058
Property Type Single Family Residence
Price Type --
This is it folks very well maintained lovely two story home in Popular Power Ranch. Formal Living and Dining with a Family room kitchen area. Kitchen has stainless appliances with beautiful dark cabinets. 4 bedrooms plus a loft area, 2.5 bathrooms. Primary Bedroom ensuite with a separate tub and shower, double sinks and walk in closet. Low maintenance front and back yards with auto drip system. Power Ranch offers Elementary School across the street from subdivision, Tennis courts, pickle ball, heated pool, spa, 2 catch and release lakes, two club houses, playgrounds and walking trails and so much more. SO MANY COMMUNITY AMMENITIES.......

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