#1 Answer to the Housing Shortage: New Construction

The biggest challenge to today’s housing market is the shortage of housing inventory for sale. A normal market would see a six-month supply of homes for sale. Currently, that number is below four months. This is the major reason home prices have continued to appreciate at higher levels than historic averages.

The good news is that builders are now starting to build more homes in lower price ranges.

Builder Confidence is Up

The Housing Market Index from the National Association of Home Builders (NAHB) reveals that builder confidence increased last month. HousingWire quoted NAHB Chief Economist Robert Dietz about the reason for the increase in confidence amongst builders.

“The HMI measure of future sales conditions reached its highest level since June 2005, a sign of growing consumer confidence in the new home market. Especially as existing home inventory remains tight, we can expect increased demand for new construction moving forward.”

Builders are Meeting the Needs of Today’s Purchaser

Builders are not only jumping into the market – they are doing a better job of matching current demand. The Wall Street Journal recently reported:

“In a shift, new households are overwhelmingly choosing to buy rather than rent. Some 854,000 new-owner households were formed during the first three months of the year, more than double the 365,000 new-renter households formed during the period, according to Census Bureau data.”

The WSJ article went on to say:

“Home builders are beginning to shift their focus away from luxury homes and toward homes at lower price points to cater to this burgeoning millennial clientele.”

The graph below compares 2016 to 2017 new construction sales by price point. As we can see, builders are slowly beginning to shift to prices more favorable to the first-time and non-luxury buyer.

Bottom Line

There is a drastic need for a larger supply of home inventory to meet the skyrocketing demand. Builders are finally doing their part to help rectify this situation.  If you are exploring the real estate market for a new build or a resale home, give me a call for more information – J.P. Cook – 602-320-4253.

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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

7660 E Golden Eagle Circle Gold Canyon, AZ 85118

$895,000

3 Beds

3 Baths

2,382 SqFt

Status Active

MLS # 6716941

Property Type Single Family Residence

Price Type --

REDUCED! This lock & leave villa in premier Superstition Mountain Golf & Country Club is tastefully remodeled & requires no yard work. You can spend your time lounging or playing! Located in a coveted Golden Eagle location, it's like an oasis in the desert. It backs to the park with babbling stream and Superstition Mountain views. Casita has 1 bed/1bath, separate entrance. RARE TWO CAR driveway! Smart home capabilities allows you to manage your home with ease from wherever you are. 24/7 guard gated community. Two newer HVACS, Water Heater, Kitchen Appliances. Amenities included with private club membership. 36 holes of Jack Nicklaus golf, pool, pickleball, tennis, bocce, fitness center. 30 miles to Sky Harbor, 20 miles to Mesa Gateway, 9 miles to retail & dining, 5 miles to hiking trails.

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9812 E Grandview Street Mesa, AZ 85207

$895,000

5 Beds

4.5 Baths

4,015 SqFt

Status Active

MLS # 6722091

Property Type Single Family Residence

Price Type --

Captivating 4015 sf home situated on oversized lot (.33 acre) on quiet street. Xeriscape landscape, in highly desirable Saguaro Mountain gated Community minutes from Zaharis Elementary, Usary Mountain Regional Park, Saguaro Lake, Salt River, hiking/biking trails. MAIN floor- vaulted living/formal dining areas, spiral staircase, large en-suite bedroom, four storage closets, kitchen with granite counters/walk-in pantry, built-in desk, sizable family room/gas fireplace, sliding glass door leads to well-designed backyard. UPSTAIRS encounter ANOTHER en-suite bedroom with walk-in closet, Master bedroom with double sinks, walk-in closet and access to balcony. Additionally, there are three more bedrooms and a hallway bath. Backyard Oasis features a large patio area, outdoor dining area with gas fire feature, pathways lead to putting green, sandy playground, fenced in pool with grotto/slide, citrus trees, raised garden, and fenced side yard. Insulated four-car garage with built in cabinets and epoxy floor.

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7800 S Big Bug Mesa Road Prescott, AZ 86303

$895,000

4 Beds

3 Baths

3,635 SqFt

Status Active

MLS # 6722671

Property Type Single Family Residence

Price Type --

Enjoy the cool mountain breeze while sitting on the deck of this large 3,635SF, 4 bed, 3 bath home. Upgraded and elegant. Views for miles. Located in the forest, on 2 acres in the Upper Big Bug area, on Big Bug Mesa Road, with a keypad locked gate. Appraised at $1,075,000. Top floor has the primary bedroom, bath, sitting room, & private office. Main floor has kitchen, large dining area, guest bed & bath, & laundry room, with a large living room and a fireplace. Lower floor is 2 more bedrooms, a game room, bathroom, & more storage. Plenty of room for guests. Plenty of storage. A garage for toys, and a work shed for tools. Perfect for a weekend retreat. Feels like you're a million miles away, but only 23 minutes to Costco. Watch the video. Search YouTube for the address

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2295 Bison Ranch Trail Overgaard, AZ 85933

$895,000

3 Beds

3 Baths

2,064 SqFt

Status Active

MLS # 6732606

Property Type Single Family Residence

Price Type --

One-of-a-kind nearly 2 acre fenced horse prop in Bison Ranch that features a 2064sq ft 2 story rustic cabin home, matching 729sq ft garage that has been converted to the ultimate entertainment room, an 1150sq ft wraparound deck & a breathtaking 1350sq ft Castlebrook Barn w/2 stalls, wash station, woodworking shop, equipment & hay storage room & a gorgeous office/tack room-all backing the national forest. Home features 2 primary bedroom suites & a guest room. Vaulted ceilings finished with gorgeous t&g wood, as well as lodgepole stair rails. The 2nd fl loft & upstairs primary bedroom share access to a covered balcony with endless uninterrupted views of the forest & the frequent visits from the majestic Heber wild horses. This dream vacation retreat is fully furnished & turn key ready.

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2000 E Yellowbell Lane Payson, AZ 85541

$895,000

3 Beds

4 Baths

3,111 SqFt

Status Active

MLS # 6753606

Property Type Single Family Residence

Price Type --

Nestled at the end of a tranquil cul-de-sac in the prestigious private golf country club of Chaparral Pines, this beautiful home is surrounded by lush trees, offering both privacy and serenity. With its thoughtful design, spacious layout, and luxurious finishes, this home is a perfect retreat for those seeking an elevated lifestyle. The spacious great room features high vaulted ceilings, large glass windows that flood the space with natural light, and a stunning stone-accented fireplace, creating a warm and inviting ambiance. The huge kitchen is a chef's dream, with granite countertops, a walk-in pantry, beverage cooler, a gas cooktop, and ample space for meal preparation and entertaining. MORE The primary bedroom is a luxurious retreat, complete with a stone fireplace, a spacious bathroom with a jetted tub, a large shower with stone surrounds, and direct access to the back deck for seamless indoor-outdoor living. Two additional bedrooms are located upstairs along with a cozy loft that overlooks the family room, offering extra living space for relaxation or work. The expansive four-car garage includes a convenient half-bath, providing plenty of room for vehicles, storage, or a workshop.

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11673 N 136th Street Unit 1022 Scottsdale, AZ 85259

$895,000

2 Beds

2.5 Baths

2,021 SqFt

Status Active

MLS # 6759270

Property Type Townhouse

Price Type --

LOCATION, LOCATION! A MUST SEE ''Nearly New'' Home Built 2023. MOUNTAIN VIEWS & $200,000+ in Upgrades make this Townhome a True Value! THE RESERVE SCOTTSDALE is a Very Private Gated Community at base of the McDowell Mountains. Entrance to this 2- bedroom + DEN, 2.5 Bath Villa is through a Private Gated Courtyard. It Features 4'' Plantation Shutters, 12 X 24 Pietra Italia Porcelain Flooring, A Gourmet BOSCH Kitchen W/ Quartz Counters & Island, Custom Alder Espresso Cabinetry. This Open Floorplan Also Features Private En-suites and a Front Den w/ Open Beam Ceilings that could be an Office or even a 3rd Bedroom. The Primary Bedroom is large with Private Exit to Patio & Open Wood Beam Ceiling. The Primary bath features a walk-in Tiled Shower, Quartz counters and a huge walk-in closet. Laundry has tons of Quality Storage Cabinets, A Sink, and Newer LG Washer and Gas Dryer. The 2- car Garage w/ Epoxy Flooring also has a Nova Water Conditioning System. Community Heated Pool and Spa and much more! Easy to Show and Priced Below Comps!

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1713 W Las Palmaritas Drive Phoenix, AZ 85021

$895,000

3 Beds

2 Baths

1,794 SqFt

Status Active

MLS # 6763474

Property Type Single Family Residence

Price Type --

First time ever on the market!! 28,567 sq ft lot!! This is a great property. House could use some updating, but if you are looking for a large lot with a huge garage in back with a lift, an unfinished studio apt, and a large woodshop, this is it!! There is access to the back lot through the alley. This is a gated alley subdivision, so double security to get into the back. Nice dead end street. House features 3 bedrooms and 1.75 baths. 1 car garage and carport at the front of the house. Irrigated lot. There is another room off of the garage that could be a 4th bedroom or hobby room. 2 covered patios, diving pool that was resurfaced not long ago. Wonderful neighborhood with a neighborhood garden and lots of events!!

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22632 E Camacho Road Queen Creek, AZ 85142

$895,000

6 Beds

4.5 Baths

5,144 SqFt

Status Active Under Contract

MLS # 6660361

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the gated community of Spur Cross. This 6-bedroom, 5-bathroom residence was constructed in 2020 and offers a spacious and bright living environment spanning a generous 5,144 square feet. Downstairs is an open-concept floor plan that seamlessly connects the living, dining, and kitchen areas. The kitchen features stainless steel appliances, quartz countertops, & an oversized island with waterfall edge, great for entertaining. On the main level, you'll find a full ensuite bedroom and bathroom, providing privacy and convenience for guests or family members who prefer ground-level living. The first level also has an extra living space for a den or office. Upstairs are four more bedrooms and three full baths plus an additional den/office. Laundry rooms can be.. ... found on both levels for added convenience. Don't forget there is a 3 car garage and fully landscaped backyard with easy to maintain turf. The lot is just over a quarter acre! Enjoy the built in BBQ and firepit with friends and family. Spur Cross offers a community pool and sport courts/parks. Close to shopping, schools, and amenities!

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15052 N 100th Place Scottsdale, AZ 85260

$895,000

3 Beds

2 Baths

1,677 SqFt

Status Active Under Contract

MLS # 6689619

Property Type Single Family Residence

Price Type --

OFFERED COMPLETELY TURN-KEY INCL. LINENS AND PATIO FURNTURE! Just bring your suitcase and move right in! Sparkling clean updated Great Room split 3 bedroom 2 bath with pool and 2 car garage on a corner lot. Vaulted ceilings and huge windows with views. Control 4 system, RING cameras front and back. Also for lease 30 day minimum no maximum.

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1909 W Yearling Road Phoenix, AZ 85085

$895,000

3 Beds

2 Baths

2,391 SqFt

Status Active Under Contract

MLS # 6735712

Property Type Single Family Residence

Price Type --

The Chatman Charm awaits! This beautiful one-story Desert Craftsman meticulously built by David Weekley in the prestigious Union Park community exudes modern elegance. The fabulous interior features warm tones and dramatic entry rotunda, leading to an open great room, abundant natural light, gorgeous flooring, sizable bedrooms, and ample living spaces for entertainment. The kitchen is equipped for the family chef, boasting an elongated kitchen island, wall oven, stainless steel GE appliances, pantry and an abundance of cabinets. The spacious primary suite offers a luxurious walk-in closet and bath complete with an oversized double vanity, a walk-in shower and private water closet. Gorgeous 3 panel sliding glass doors create an indoor/outdoor entertaining dream and lead to your backyard... paradise! Host fun gatherings with a sparkling pool, lush matured trees and a covered patio. Low-maintenance landscaping combines rock, pavers, and artificial turf. Additional features include a tandem garage, 10ft flat ceilings, updated paint 2024, updated flooring in 2024. The house itself is only 5 years old being built in 2019. Don't miss out on this fantastic opportunity!

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9121 E Crystal Drive Sun Lakes, AZ 85248

Open House

$895,000

3 Beds

3 Baths

3,166 SqFt

Status Active

MLS # 6775190

Property Type Single Family Residence

Price Type --

Beautiful GALLERIA in the gated community of Oakwood with GOLF COURSE AND WATER VIEWS!! Vaulted ceilings, plantation shutters, water treatments. Kitchen is a chef's delight with a LARGE ISLAND, granite, black appliances and a PANTRY. Home has 3 bedrooms, a SEPARATE OFFICE, and 3 full baths. Master BR has a slider to the patio, a sitting area, WALK-IN closets and an updated bath! Upstairs features 2 BR's and a full bath. The laundry room has extra storage and leads to a 3-car garage. Enjoy the built-In BBQ and patio water feature while watching golf course and lake views! Sun Lakes is an active community offering an array of active and social lifestyles including golf, tennis, pickle ball, pools, fitness center, clubs, social activities and restaurants. COME SEE....

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22649 E Alyssa Road Queen Creek, AZ 85142

$894,701

5 Beds

4 Baths

3,396 SqFt

Status Active

MLS # 6774207

Property Type Single Family Residence

Price Type --

Last opportunity to own a Tri Pointe Home in Madera! Single-level 5-bedroom home featuring endless designer selections throughout. There is a gen smart suite with a kitchenette and private entrance. The kitchen boasts executive appliances with double wall ovens and a 36' gas cooktop, hana sky quartz countertops with a waterfall island, custom backsplash, and benton white stacked cabinets. There is also a 16' multi panel sliding glass door at the great room, custom tile surrounds at the primary bath, upgraded bath fixtures in stainless brilliance, and a laundry sink with base cabinets. Other highlights include square drywall corners with contemporary baseboards and door trim, 2 inch faux wood blinds, upgraded interior paint in Snowbound, 6 x 36 vicinity gray brown plank tile, and more!

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