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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935 Calle Azul -- Wickenburg, AZ 85390

$567,900
4 Beds
2 Baths
1,884 SqFt
Status Active
MLS # 6722019
Property Type Single Family Residence
Price Type --
Beautiful 4bed 2bath 2 car garage home with a large lot large patio RV gate with amazing views. Must see property in Wickenburg AZ.

8718 N 180th Drive Waddell, AZ 85355

$567,500
5 Beds
3.5 Baths
3,548 SqFt
Status Active
MLS # 6715988
Property Type Single Family Residence
Price Type --
Don't miss out on this beautiful Pulte home in a Great location! Easy access to the 303, I-10 and Luke Air Force Base. This home has an amazing floorplan with the master suite downstairs and 4 large bedrooms plus a huge loft upstairs. The nice sized lot backs to a greenbelt with mountain views from the backyard. You can take this all in while enjoying some quality time under the expansive covered patio. Some of the many wonderful features you will find inside include, granite countertops, an eat-in kitchen, tasteful neutral flooring and tons of storage space. The laundry room has ample space plus a utility sink. The 3 car garage features shelving and an epoxy floor. Come see it today. This one won't last.....

10221 S Bickwell Trail Apache Junction, AZ 85120

$567,028
4 Beds
2 Baths
2,386 SqFt
Status Active
MLS # 6739939
Property Type Single Family Residence
Price Type --
Experience the difference at Laurel at Blossom Rock! This stunning single-story Laredo design is currently under construction and features a spacious open-concept floorplan. The heart of the home includes an inviting kitchen with an island, seamlessly connected to a bright great room that opens to a private, covered outdoor living space. With 4 bedrooms, 3 bathrooms, and a convenient drop zone right off the 3-car garage, this home offers both comfort and functionality. Plus, $49,000 in premium upgrades are already included, and special financing options are available. The home is expected to be completed by November. Living at Blossom Rock means embracing the outdoors with community parks, miles of scenic trails, beautiful lakes, and signature events. Nearby the Superstition Mountains.

2422 E Saint Anne Avenue Phoenix, AZ 85042

$567,000
5 Beds
4.5 Baths
2,599 SqFt
Status Active
MLS # 6743335
Property Type Single Family Residence
Price Type --
Welcome to this spacious 5-bedroom, 4.5-bathroom residence blends comfort, and modern living in the sought-after Arbor Subdivision. The spacious open floor plan seamlessly connects the living, dining, and kitchen areas. The gourmet kitchen features stainless steel appliances, ample cabinet space, and a large island. The home boasts five generously sized bedrooms, with the primary suite offering dual sinks, dual walk-in closets, and an en-suite bathroom. Enjoy mountain views from the beautifully landscaped backyard with a large covered patio, turf, and pavers. Additional features include a loft, office, and two-car garage. Arbor Subdivision provides well-maintained common areas, parks, and walking trails. Check it out!

23852 N 167th Lane Surprise, AZ 85387

$567,000
4 Beds
3 Baths
2,016 SqFt
Status Active
MLS # 6781319
Property Type Single Family Residence
Price Type --
Stunning Family Home with Private Outdoor Oasis This spacious 4-bedroom, 3-bathroom home offers the perfect blend of comfort and luxury, with an inviting front patio that welcomes you into a well-designed living space. As you step inside, you'll immediately appreciate the open, airy feel of the home with its modern finishes and thoughtful layout. The heart of the home features a beautifully kitchen that flows seamlessly into a cozy living room, making it perfect for both everyday living and entertaining. The master suite is a true retreat, offering privacy and tranquility with its own ensuite bathroom and walk-in closet. Step outside to your own private paradise. The backyard is an entertainer's dream, with a heated pool complete with a tranquil water feature, ideal for relaxing or hosting summer gatherings. Enjoy outdoor cooking and dining with the built-in BBQ area, and when the sun gets too bright, simply extend the retractable awning for shade and comfort. Whether you're lounging by the pool or enjoying a meal with family and friends, this outdoor space is perfect for creating lasting memories. With its ideal layout, stylish features, and amazing outdoor amenities, this home truly offers the best of both worlds indoor and outdoor luxury!

2398 W Arroyo Way San Tan Valley, AZ 85144

$567,000
4 Beds
2.5 Baths
2,535 SqFt
Status Active
MLS # 6707047
Property Type Single Family Residence
Price Type --
Beautiful single family home featured in popular community ''Morning Sun Farms' located in Queen Creek, AZ. This highly preferred [single level] home incorporates a subtle balance of contemporary finishes with a modern design. The home features 4 bedrooms, +Den/5th bedroom, 2.5 bath(s), 2,534 sq ft open concept floor plan, nicely appointed kitchen w/ granite countertops, large [eat-in] island, dual ovens, gas cooking, raised panel cabinetry, ss appliances, and walk-in pantry. Also, this home features large great room space, 9ft+ ceilings, tile flooring, modern plumbing/lighting fixtures [fans], dual pane [low-e] windows, 2'' wood faux blinds, designated dining space, and a dedicated master retreat featuring a spacious sleeping quarters, separate shower/tub, dual sinks, and large walk-in. closet. Lastly, the home features a 3-car tandem garage w/ new epoxy floors & built-in storage cabinets, and a private [resort style] backyard equipped with covered patio space, sparkling heated pool, built in BBQ [w/ dedicated gas line], mature landscaping, backyard wall raised for increased privacy, and separate RV gate --perfect for entertaining guests & family. Morning Sun Farms offers residents plenty of walking & bike paths, green spaces, and is just minutes away from great shopping, restaurants, and entertainment.

441 S Dodge Drive Chandler, AZ 85225

$567,000
3 Beds
2 Baths
2,162 SqFt
Status Active
MLS # 6736916
Property Type Single Family Residence
Price Type --
Fantastic location in the popular single level community in Kempton Crossing. Well maintained one owner 3BR 2BA plus large den, large kitchen with island and granite counter tops , breakfast nook, formal dining, formal living room and family room with gas fireplace, upgraded tile and wood flooring through out the home, Oversized lot with mature backyard and cover patio, 3 car garage, the home is one of a kind for the subdivision only one built, Kempton crossing is a unique community where all homes are single level with 7400 sqft minimum lot size, this home is the only one of its floor plan in the community, enjoy several nearby family parks with pickle ball courts, biking or walking along the canal and convenient close access to freeway and many stores.

34475 N Fortini Way Queen Creek, AZ 85144

$566,610
5 Beds
3.5 Baths
2,937 SqFt
Status Active
MLS # 6748798
Property Type Single Family Residence
Price Type --
From AZ-24, take Ellsworth Rd, south. Make a right onto Thompson Pkwy. Turn left onto Tesota Way. The sales office will be on your right.

4010 S 178th Lane Goodyear, AZ 85338

$565,588
4 Beds
3.5 Baths
2,639 SqFt
Status Active
MLS # 6768888
Property Type Single Family Residence
Price Type --
Ready for quick move in! Welcome to the Juniper Floor Plan, a magnificent single-story haven meticulously designed to offer space, comfort, and versatility. Boasting an expansive 2639 square feet, this home provides a seamless fusion of elegance and practicality. Discover the allure of 4 beautifully appointed bedrooms, each offering a serene sanctuary for rest and rejuvenation. The Owners Suite stands out as a true retreat, featuring a walk-in closet that keeps your belongings organized and easily accessible. ALWAYS BUILT W/SPRAY FOAM INSULATION & TANKLESS WATER HEATER!!

13747 W Nogales Drive Sun City West, AZ 85375

$565,500
2 Beds
2 Baths
1,837 SqFt
Status Active
MLS # 6734640
Property Type Single Family Residence
Price Type --
Presenting the San Ysidro Model home, a masterpiece of elegance and refined taste, situated on a corner lot within the serene, gated community of Corte Bella. This home spans 1,837 sq ft and features two spacious bedrooms and two luxurious bathrooms,+ large den/office tailored for both enchanting entertainment and peaceful relaxation. The heart of this home offers a chef's dream kitchen, fully upgraded with stainless steel appliances, granite countertops, a center island, and an ample pantry. The primary suite offers a sanctuary-like experience with bay windows, modernized flooring, a large walk-in closet, and a private water closet with double sinks. The accompanying bedroom and bathroom continue the theme of luxury with updated fixtures, and new installations. Expansive connections between the great room, den/office with custom French doors, dining, and kitchen areas showcase the carefully selected neutral tile flooring throughout, reflecting a tastefully designed interior. This exceptional property is now available for sale, ready to fulfill your dream of sophisticated yet practical living.

10909 E Silvertree Drive Sun Lakes, AZ 85248

$565,444
2 Beds
2 Baths
1,833 SqFt
Status Active Under Contract
MLS # 6777341
Property Type Single Family Residence
Price Type --
Looking for a private, gated, community with access to 2 golf courses, 2 club houses, 3 community pools/spas, 2 restaurants, many pickle ball courts, and more? Well, look no further. This home has many updated features including, but not limited to, HVAC in 2024, updated kitchen with all new appliances, cabinets updated with paint, euro soft close hinges & hardware in 2023, Whole home salt free filter system in 2024, and updated plumbing fixtures in 2024. There's also a private front courtyard for relaxing as well as a covered patio in the private backyard. There are ceiling fans in the great room, both bedrooms and the breakfast nook off the kitchen. This home also has a two car garage and a golf cart garage. Stop by and see if this is just the home you've been looking for. Thank you.

30133 N 172nd Street Rio Verde, AZ 85263

$565,000
3 Beds
2 Baths
1,637 SqFt
Status Active Under Contract
MLS # 6771208
Property Type Single Family Residence
Price Type --
Stunning views of Four Peaks, Weaver's Needle, and the Superstitions are the backdrop of this 1.059 acre property. The 3 bedroom, 2 bathroom split floor plan is move-in ready, lightly lived-in, and only 2 years old. The home is centered around a spacious great room, offers 9+ ft ceilings, and energy-efficient dual-pane low-e windows. The kitchen is beautifully designed with quartz countertops, upgraded cabinetry, and tile backsplash. Upgrades include 12ft sliding doors, spray foam insulation, upgraded doors throughout, enhanced desert landscaping, custom paver patio, retaining wall, and gutters. Step outside to a covered patio and enjoy the beautiful scenery. Ask about the guaranteed water through EPCOR's Rio Verde Foothills Standpipe project.

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