Epic Housing Shortage Being Reported

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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5330 W Jackalope Lane Laveen, AZ 85339

$549,990

4 Beds

3 Baths

2,214 SqFt

Status Active

MLS # 6732836

Property Type Single Family Residence

Price Type --

MLS#6732836 January 2025 Completion! Experience modern luxury in the all-new Hudson model at Tierra Montana Encore. This stunning 4-bedroom, 3-bath home with a 2-car garage welcomes you with an elegant paver front porch. Step inside to discover a spacious open floor plan that seamlessly integrates the heart of the home. The kitchen, featuring pristine white quartz countertops and a gas cooktop with a single oven, caters to both culinary enthusiasts and everyday convenience. Relax in the generously designed living space, which offers both style and functionality. Retreat to the primary suite, complete with an ensuite bath and ample closet space for a peaceful escape. Three additional bedrooms and well-appointed bathrooms ensure comfort for both family and guests. Design options include: Signature Canvas Collection - Manuscript.

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16707 W Whispering Wind Drive Surprise, AZ 85387

$549,990

4 Beds

3 Baths

2,432 SqFt

Status Active

MLS # 6761168

Property Type Single Family Residence

Price Type --

Up to 3% of Base Price or total purchase price, whichever is less, is available through preferred lender.'' The Avelino AllGen floorplan offers 4 bedrooms, a second kitchen, 3 baths, a soft water plumbing loop, a no-step shower, a 2' garage extension, and 8' interior doors. Highlights include granite kitchen countertops, a gas range, and upgraded flooring.

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20240 W Catalina Drive Buckeye, AZ 85396

$549,990

3 Beds

3 Baths

2,456 SqFt

Status Active

MLS # 6655730

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! Amethyst floor plan with 3 bedrooms, 3 baths and a 3 car garage. This home is stunning and has plenty of storage space including all bedrooms have walk in closets. Multi slide door at the extended covered patio. Pavers at drive, walk and entry. Gas appliance package in stainless steel, 30'' cooktop, microwave & canopy hood. Tahoe Maple Painted Boulder ''Gray'' cabinets throughout. Bianco Typhoon Polished granite tops in kitchen and owner's bath. Stainless steel under mount single bowl kitchen sink. Flooring includes EMS Riverside Yaris 20x24 in all areas of the home except Bedrooms & closets. Dual sinks at bath 2. Gas stub for future BBQ. Garage service door and so much more. Please verify all information with onsite agent . Thank you!

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20245 W Catalina Drive Buckeye, AZ 85396

$549,990

4 Beds

3 Baths

2,510 SqFt

Status Active

MLS # 6686329

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 beautiful Jade floor plan in the Arroyo Seco community. 4 bedrooms, 3 baths and a 2 car garage plus a large storage area. Pavers at the drive, walk and entry, Stainless steel gas appliance package with 30'' cooktop, wall oven and canopy hood. Tahoe maple slate - (gray) cabinets throughout. AZT Della Terra Quartz Linen countertops in kitchen and restrooms. Upgrade flooring includes EMS Riverside Firenza 20x20 tile in all areas of the home except bedrooms and closets. 5'' baseboards with 3 1/4'' door casings throughout. Dual sinks at bath 3. Interior two tone paint in ''Whiskers''. 8' tall garage door with two remotes, Garage service door for easy access into the back yard and so much more. Please verify information with onsite agent. Thank you!

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