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.”

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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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1228 E Wesleyan Drive Tempe, AZ 85282

$560,000
3 Beds
2 Baths
1,486 SqFt
Status Active Under Contract
MLS # 6758491
Property Type Single Family Residence
Price Type --
Prime Tempe Location! This stylish 3-bedroom, 2-bathroom home with 2-car garage is just minutes from ASU and the freeways. The kitchen boasts sleek stainless steel appliances, granite countertops, and seamlessly flows into the dining area. Enjoy the additional living space in the separate living room which opens to the backyard. Recently updated with new flooring installed in 2024, this home features a distinctive and modern look. The backyard is perfect for entertaining, with a covered patio, misting system and a refreshing diving pool. The property is situated among single-story homes, offering added privacy. New roof. No HOA. Come see it today!

6850 N 15th Place Phoenix, AZ 85014

$560,000
3 Beds
2 Baths
1,906 SqFt
Status Active
MLS # 6710157
Property Type Single Family Residence
Price Type --
Charming 3-bed, 2-bath home on a spacious corner lot with ample storage and an RV gate. The pride of ownership is evident as this home has been with the same family since it was built. Enjoy stunning mountain views from your front porch. Recent updates include a roof replacement just 2 years ago. Don't miss this opportunity!

17831 N 130th Avenue Sun City West, AZ 85375

$560,000
4 Beds
2 Baths
2,394 SqFt
Status Active
MLS # 6703110
Property Type Single Family Residence
Price Type --
Come see this completely renovated 4 Bedroom/2 Bath home with paid off solar! No detail was missed in this stunning 2394 square foot property. All work was permitted and completed by licensed contractors. Updates include: New Windows, Electrical, Plumbing, Fixtures, Paint, Flooring, ductwork, outdoor upgrades, and Appliances. From the new flooring to the kitchen upgrades, you don't want to miss out on the opportunity to tour this home! Seller to pay the $5000 SCW Asset Preservation Fee if COE by 12/31. Enjoy all of the amenities Sun City West provides! The new owner(s) will be able to pick out their new backsplash for the kitchen and installed by our contractor.

22443 E Munoz Street Queen Creek, AZ 85142

$560,000
3 Beds
2 Baths
2,301 SqFt
Status Active
MLS # 6731713
Property Type Single Family Residence
Price Type --
Welcome Home! Situated in the coveted Meridian neighborhood this property comes highly upgraded and professionally designed. Stunning laminate flooring throughout, marble kitchen backsplash, oversized island and new carpet freshly installed. All upgraded pendants and dining lighting is included, also pre-wired for surround sound. This is a 3 bedroom plus spacious office/playroom and 2 bath home. Front and back yard are connected to an automatic watering system for easy maintenance. Post tension slab included along with tankless water heater. Meridian offers lots of green spaces, parks and a luxury community pool.

10913 W Chino Drive Sun City, AZ 85373

$560,000
2 Beds
2 Baths
1,746 SqFt
Status Active
MLS # 6719018
Property Type Single Family Residence
Price Type --
PRICE ADJUSTMENT! Beautiful Lakefront Home in Ventana Lakes 55 + community! It has everything you want, 2 bedroom, 2 baths, 3 car garage, Living room, separate great room, and an Office. You will enjoy the morning sunrises and evening sunsets from the patio and backyard. Ventana Lakes is one of Peoria's premier 55+ communities. The community features 9 lakes, some with waterfalls, and great fishing! 4 pools and spas, recreation and fitness room, billiards, fine arts and crafts and quilting rooms, handball, tennis courts, Bingo games, etc.

26916 N 52nd Glen Phoenix, AZ 85083

$560,000
3 Beds
2 Baths
1,927 SqFt
Status Active
MLS # 6749367
Property Type Single Family Residence
Price Type --
Experience luxury living in this stunning resort-style retreat featuring a fenced Pebble Tec saltwater pool and spa, heated and self-cleaning with a variable speed pump. The professionally landscaped yard boasts a pomegranate tree in the front, a synthetic grass backyard, and a covered patio with extended cool decking—perfect for outdoor relaxation. Nestled in a cul-de-sac, this home offers privacy and direct access to a greenbelt and walking trail, all framed by picturesque mountain views. Inside, enjoy a formal living and dining area, along with a spacious family room that flows seamlessly into an open-concept kitchen designed for entertaining. The kitchen is equipped with a large island and sink, a breakfast bar with ample seating, a gas oven/range, a pantry, and a reverse osmosis system. Modern touches include updated light fixtures, surround sound wiring, ceiling fans, and a combination of tile and laminated flooring. The master suite is a serene retreat with dual sinks, an updated walk-in shower, a spacious walk-in closet, and a private toilet room. This smart home is equipped with a programmable thermostat, security system, and an owned solar system with a loan assumption. Additional features include garage storage cabinets, overhead storage racks, a water softener, and an automatic garage door opener. With great curb appeal and a welcoming front porch, this home is conveniently located near top-rated schools, shopping, dining, Deem Hills Recreation Area, and major highways including I-17, Loop 101, and 303.

12910 W Rampart Drive Sun City West, AZ 85375

$560,000 - 3Br/2Ba -  for Sale in Sun City West, Sun City West
Open House
$560,000
3 Beds
2 Baths
2,166 SqFt
Status Active
MLS # 6780993
Property Type Single Family Residence
Price Type --
Shows like a model! Prepare to be impressed with the tasteful upgrades of this pristine Castillo model. Residing in a peaceful cul-de-sac, the welcoming courtyard invites you into the living room where you'll notice the high ceilings, recessed lighting, and wood-look laminate flooring that runs throughout most of the home. The kitchen is a showstopper, featuring sleek quartz countertops, abundant wood cabinetry, a stylish backsplash, and modern stainless-steel appliances. As if that weren't enough, there's a bright and cozy sunroom where you can soak up Arizona's beautiful weather, complete with dual-pane windows for comfort. The main bedroom is your personal retreat, offering sliding doors to a private courtyard for effortless indoor-outdoor living, not one but multiple spacious walk-in shower. Step outside to your newly updated backyard oasis! It's the perfect blend of style and function, with a spacious open patio, a charming gazebo, practical storage sheds, lush artificial turf, and even a tranquil water feature.

17243 W Seldon Lane Waddell, AZ 85355

$560,000 - 4Br/3Ba -  for Sale in Granite Vista Phase 2f, Waddell
Open House
New
$560,000
4 Beds
3 Baths
2,326 SqFt
Status Active
MLS # 6788023
Property Type Single Family Residence
Price Type --
Welcome to Your Dream Home - A Smart, Stylish, & Functional Oasis! From the moment you enter, you'll notice the attention to detail, quality finishes, & thoughtful design that make this home stand out. The master bedroom boasts luxurious wood laminate flooring, seamlessly matched with a one-of-a-kind, custom-designed closet boasting floor-to-ceiling storage, built-in shoe racks, & stunning full-length mirror - everything you need for a stylish, organized space. Cook in style with chic 6-inch subway tile backsplash & soft-close cabinets that add both elegance and functionality. Expansive backyard features large paver patio - perfect for hosting gatherings or enjoying peaceful evenings outdoors. Experience a truly unique living environment with an abundance of lemon, orange, and grapefruit trees throughout the community to enjoy fresh fruit anytime - a rare treat that adds charm and character to this wonderful, tight-knit community with warm, welcoming neighbors. Whether you're running errands or grabbing a bite, everything is within easy reach, located just 3 miles away. This home is a rare find - a perfect blend of luxury, comfort, and functionality. Don't miss your chance to own this lovely property in a truly exceptional neighborhood. Book your tour today!

16972 W Alice Avenue Waddell, AZ 85355

$560,000 - 4Br/3Ba -  for Sale in Northern Farms, Waddell
Open House
$560,000
4 Beds
3 Baths
2,788 SqFt
Status Active
MLS # 6763393
Property Type Single Family Residence
Price Type --
This better-than-new 4-bedroom + Den, 3-bathroom home is nestled in a peaceful community with no homes behind, offering ample privacy. Conveniently located near shopping, dining, and entertainment, you'll have everything you need just minutes away. Whether you're looking for a primary residence or an income generating property, this home is perfect - currently operating as an established Airbnb. It features a family room and upstairs loft, highlighted by fresh interior paint, soft carpet and wood-look tile flooring. The oversized primary bedroom on the main floor has an oversized ensuite bathroom with double sinks and a walk-in shower. The kitchen offers a pantry, granite countertops, a kitchen island and an eat-in dining area. The exterior features a covered patio and lush real grass!

3406 E Libby Street Phoenix, AZ 85032

$560,000 - 3Br/2Ba -  for Sale in Parque Vista Estates Unit 7, Phoenix
Open House
$560,000
3 Beds
2 Baths
1,560 SqFt
Status Active
MLS # 6717614
Property Type Single Family Residence
Price Type --
Welcome to this beautifully updated three-bedroom, two-bath home nestled in a prime location backing directly onto a beautiful golf course. This open-concept floorplan boasts a bright and spacious layout, The kitchen flows seamlessly into the living and dining areas, ideal for entertaining. Step outside to your private oasis which features a view fence that showcases the golf course, a large putting green, and a chipping area, perfect for golf enthusiasts. Enjoy evenings by the firepit, soaking in the serene surroundings of AZ. Best of all, there's NO HOA, offering you unparalleled freedom and flexibility.

3839 N St Elias Circle Mesa, AZ 85215

$559,999
3 Beds
3 Baths
2,181 SqFt
Status Active
MLS # 6766638
Property Type Single Family Residence
Price Type --
Welcome to 3839 N St Elias Cir, nestled on a quiet cul-de-sac with mountain views in the highly desirable Red Mountain Ranch community of Mesa, AZ. This 3 bedroom home, plus a spacious den, offers not only a beautifully maintained interior but also a lifestyle that embraces Arizona's natural beauty. The peaceful backyard is a private retreat with a large, extended covered patio, perfect for dining, surrounded by vibrant landscaping. From your kitchen window, enjoy the view of blooming flowers and frequent hummingbird visits. The cozy gazebo offers a shaded sitting area, making it the ideal spot to savor your morning coffee. Inside, the home features soft, clean carpeting with upgraded padding, providing comfort underfoot. High ceilings and very large energy efficient windows invite an abundance of natural light, creating a bright, airy atmosphere throughout. The kitchen overlooks the living room and is designed with granite countertops, stainless steel appliances, and soft close cabinetry, blending style and function. The den, larger than a standard bedroom, is equipped with custom shelves and drawers, offering versatility for work or leisure. Living in Red Mountain Ranch means more than just a home; it's a lifestyle. With access to world class golf courses, fitness centers, hiking trails, and more, there's always something to enjoy. Plus, located just minutes from the Red Mountain 202, the home's location provides easy access to local dining, shopping, and entertainment. This well maintained property combines comfort, convenience, and a true sense of community. With its move in ready condition and prime cul-de-sac location, this home is a perfect sanctuary for those looking to embrace both relaxation and an active lifestyle.

4324 W Orchid Lane Glendale, AZ 85302

$559,999
3 Beds
2 Baths
2,237 SqFt
Status Active Under Contract
MLS # 6755871
Property Type Single Family Residence
Price Type --
A stunning and completely renovated home boasts an open floorplan, 3 bedrooms, 2 bath and a Den with 2237 sqft, 2 car garage with a large backyard RV gate & parking, large lot room for all the toys and a sparling pool with covered patio. The kitchen comes with stainless-steel appliances, quartz countertops and brand-new white shaker cabinets. Brand new vinyl wood flooring & upgraded carpet throughout the home. Enjoy the fully upgraded, spa like bathrooms with high end shower system, framed mirrors, shower niche, and custom vanities. Brand new water heater. Located in a lovely desirable neighborhood located close to shopping, parks, schools, and dining. No HOA's A Must see

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