#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.

What’s Your Home Worth?

Search for Your New Home

Listing types.

For Sale

For Rent

Land

Multifamily

Commercial

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Distressed

Open House

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Price MaxAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Location Search Nearby

Lot SizeAny1+ Acres2+ Acres3+ Acres4+ Acres5+ Acres6+ Acres7+ Acres8+ Acres9+ Acres10+ Acres20+ Acres30+ Acres40+ Acres50+ Acres

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Neighborhood

Address, MLS# or Keyword

Location Search Nearby

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

School District

Address, MLS# or Keyword

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Location Search Nearby

Lot SizeAny1+ Acres2+ Acres3+ Acres4+ Acres5+ Acres6+ Acres7+ Acres8+ Acres9+ Acres10+ Acres20+ Acres30+ Acres40+ Acres50+ Acres

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Address, MLS# or Keyword

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

View As: Thumbnails List

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

2601 E Shangri La Road Phoenix, AZ 85028

$894,500

4 Beds

2.5 Baths

2,334 SqFt

Status Active

MLS # 6749995

Property Type Single Family Residence

Price Type --

Oversized lot perfectly situated in a highly desirable neighborhood on a peaceful cul-de-sac, this exceptional home offers stunning mountain views and an array of modern upgrades. The bright entryway welcomes you into an open front room filled with abundant natural light, setting the stage for the rest of this beautiful home. The spacious, updated kitchen features quartz countertops, elegant cabinets with crown molding, floating shelves, and stainless steel appliances, making it perfect for both everyday living and entertaining. Updated flooring flows seamlessly throughout the home's main areas, enhancing the home's contemporary feel. The large, open family room, highlighted by exposed ceiling beams, provides a warm and inviting space for gatherings. The expansive primary retreat is a true sanctuary, complete with outdoor access, ideal for enjoying the serene surroundings. With four bedrooms plus a separate office space, this home offers plenty of space for everyone. Step outside to discover a backyard oasis on one of the largest lots in the neighborhood, featuring a sparkling pool and a private, landscaped yard. A spacious covered patio with extensive pavers invites you to enjoy outdoor living year-round, making this home an entertainer's dream. The large side yard with an RV gate provides ample storage or project space. Energy-efficient windows throughout ensure comfort and cost savings. Don't miss the chance to own this perfect blend of style, comfort, and convenience in one of the area's most sought-after locations!

View Property

27600 N 130th Avenue Peoria, AZ 85383

$894,000

2 Beds

2.5 Baths

2,610 SqFt

Status Active

MLS # 6732883

Property Type Single Family Residence

Price Type --

NEW LOWER PRICE - INCLUDES DINING ROOM AND OWNERS SUITE FURNITURE. This SOLAR (Avg ELECTRIC BILL is $18/month - WOW!!) Aurora is IMPRESSIVE. The charming curb appeal is equipped with LUSH PALMS, PAVER WALKWAY & a DRAMATIC ARCHED GATE. Step inside and admire all the IMPRESSIVE upgrades & Custom Touches! Beautiful TILE FLOORING thru-out (no carpet!!). The Spacious Kitchen is a Show-Stopper w/ an atmosphere to inspire one to cook & entertain -2 ISLANDS, Built-in GAS Appliances, Roll-out shelving, Under Cabinet Lighting, Pendant Lighting & high-end RAISED-PANEL Maple Cabinetry. Located off the Kitchen is a PRIVATE COURTYARD enhanced w/ a PERGOLA! Owner's Suite is Oversized w/ a BAY WINDOW & has Access to the RESORT BACKYARD! The Spa-like Bath HAS BEEN REMODELED - custom Tile Shower & Tub Surround w/ Stone C-tops. Situated off the Owner's Suite You'll FIND a BONUS ROOM that is flexible for all your needs!! Step outside to paradise and enjoy the spectacular resort backyard oasis! The HEATED POOL & PRIVATE SPA is the perfect setting to enjoy the EXPANSIVE DESERT & MOUNTAIN VIEWS!! The Spill-over WATER FEATURE from the spa is the perfect touch! A Lounge Area with Built-in BBQ is inviting and the perfect space to enjoy the Breathtaking Views. Additional upgrades: Guest Suite w/ Remodeled finishes, Den w/ Double Doors, Plantation Shutters, ceiling fans, soft water, RO, laundry sink, garage storage & epoxy floors, sun shade at the back patio and so much more! This HOME checks the boxes on the wish list - take a look yourself - your dream home awaits you!!

View Property

1001 N Peppertree Drive Gilbert, AZ 85234

$894,000

5 Beds

3.5 Baths

3,183 SqFt

Status Active

MLS # 6774014

Property Type Single Family Residence

Price Type --

Custom Home in Prestigious Gated Val Vista Lakes Community Step into luxury with this stunning custom home featuring vaulted ceilings and an impressive spiral quartz staircase as you enter. Designed with elegance and comfort in mind, the interior boasts travertine flooring throughout and a cozy wood-burning fireplace. The master bedroom on the first floor offers convenience and privacy with separate entrance to backyard. Oversized walk-in closets. The bonus room can be a fifth bedroom including bathroom. Was previously a mother-in-law suite with separate access to downstairs. The front yard is beautifully landscaped with upgraded turf and elegant hardscape. The backyard is an entertainer's dream, featuring a sparkling Pebble Tec pool with custom flooring and a serene water feature Enjoy seamless indoor-outdoor living with an oversized custom screen door and a smart home security system for peace of mind. Unwind in the separate built-in spa, or host guests under the large gazebo. A grassy area leads to gated access to the greenbelt, where endless walking and bike paths await. Located near San Tan Mall, with wonderful shopping, restaurants, and entertainment just minutes away, this home perfectly blends luxury, convenience, and community.

View Property

1280 E Majestic Drive Prescott, AZ 86303

$890,000

4 Beds

3 Baths

2,477 SqFt

Status Active

MLS # 6782778

Property Type Single Family Residence

Price Type --

This exquisite two-story home is just minutes from downtown Prescott and features breathtaking mountain views. The main level includes a spacious formal entry, a bright living room, a luxurious south-facing master suite, and an additional bedroom off the kitchen and informal dining area. Enjoy outdoor entertaining on the expansive patio, perfect for professional-level grilling. The lower level includes a second master suite, a versatile bedroom, a cozy media room, and a family room with spectacular views. All appliances are brand new stainless steel, and the home is smoke-free. With a two-car garage, propane gas, well, and septic system, this property combines modern living with natural beauty. Experience one of the best views in Prescott.

View Property

14247 N Honeysuckle Drive Fountain Hills, AZ 85268

$890,000

3 Beds

2.5 Baths

2,526 SqFt

Status Active

MLS # 6778223

Property Type Single Family Residence

Price Type --

Lovely home in high demand Sunridge Canyon. Enjoy panoramic eastern rear mountain and moon rise views from 4 Peaks to the Goldfileds! Great split bedroom floor plan with formal living & dining plus a great room style open kitchen and family room. Tile and real wood floors- minimal carpet. Master bath has huge walk-in shower. New exterior paint 2024. Existing furnishings (except master mattresses) available on a separate bill of sale at 0 cost. 12 month minimum on rentals.

View Property

3459 E Mockingbird Drive Gilbert, AZ 85234

$890,000

4 Beds

3 Baths

3,038 SqFt

Status Active

MLS # 6748919

Property Type Single Family Residence

Price Type --

GORGEOUS Home. UPGRADE galore. BASEMENT Home. LOCATION LOCATION LOCATION!!!. Conveniently located 2 miles from the 60 and 3 miles from the 202 and mile from major shopping area. REMODELED within the last year with new windows, blinds, sliding door, light fixtures, fans, flooring paint, water-softener system with tankless water heater, painted kitchen cabinets, etc (too many to list). Solar panels were installed in 2021 together with the new roof. A must see to appreciate this beautiful and immaculate home.

View Property

2110 N 68th Place Scottsdale, AZ 85257

$890,000

4 Beds

3 Baths

1,932 SqFt

Status Active

MLS # 6748869

Property Type Single Family Residence

Price Type --

Experience unparalleled luxury in this newly renovated Scottsdale gem, just moments from Old Town. This modern marvel boasts four bedrooms, including dual master suites, and three opulent bathrooms. The primary suite features a lavish ensuite with dual vanities, a walk-in shower, soaking tub, and expansive closet. The chef's kitchen shines with granite countertops, a gas range, stainless steel appliances, and a large island with a prep sink and wine fridge. Elegant wood-like tile flooring and recessed lighting enhance the ambiance throughout. Step outside to a private oasis with a sparkling diving pool, lush artificial grass, and a putting green. Highlights include a 2022 5-ton AC unit, a spacious air-conditioned laundry room, new doors and windows, and an epoxy-floored 2-car garage.

View Property

3248 S Golden Barrel Court Gold Canyon, AZ 85118

$890,000

3 Beds

3 Baths

2,608 SqFt

Status Active

MLS # 6753279

Property Type Single Family Residence

Price Type --

NEWLY UPDATED Well appointed villa in SUPERSTITION MOUNTAIN.. NEW GRANITE IN KITCHEN AND ALL THE BATHROOMS. NEW FLOORING IN GREAT ROOM, DINING AREA, KITCHEN AND PRIMARY BEDROOM. NEWLY PAINTED INSIDE. Three bedroom, three baths. Open great room/dining room/kitchen layout. Viking appliances, Wet bar. WINE WALL.Large master suite with laundry conveniently located off the primary suite closet Two side patios - one with built in BBQ and fire table and the other with an above ground hot tub. Corner lot. Walking distance to the fitness center and TWO JACK NICKLAUS GOLF COURSES! Not a golfer? Enjoy pickle ball, bocce, tennis, hiking and many other activities You'll love it here!. Twenty minutes to Gateway Airport and 35 minutes to Phoenix Sky Harbor airports.Maintenance free living at its best Club Membership and amenities under a separate agreement. Buyer and/or buyer's agent to verify all pertinent information including square footage.

View Property

4870 W Mountain Hollow Loop Show Low, AZ 85901

$890,000

3 Beds

2 Baths

3,121 SqFt

Status Active

MLS # 6775820

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This newly constructed house is a perfect blend of modern design and comfortable living. With ample space and luxurious amenities, it promises to meet all your needs and more. The heart of this home features a beautifully designed living space that seamlessly combines the living room, dining area, and kitchen. It is perfect for entertaining guests or enjoying quiet family evenings. The primary room is an oasis of tranquility, that offers a large space with an en-suite bathroom. Two generously sized bedrooms share a well-appointed bathroom, ideal for family or guests. A modern kitchen equipped with top-of-the-line appliances, ample counter space, and elegant cabinetry. It's a chef's delight! The extra storage space that is an additional 800 sq ft under the house with a secure slab foundation. Perfect for all your storage needs or a potential workshop. The garage is 736 sq ft that can accommodate multiple vehicles and additional storage. The property offers a beautifully landscaped yard, providing a serene environment for outdoor activities and relaxation. The located in a peaceful neighborhood, this home offers easy access to local amenities, schools, and parks. It's a perfect setting for families and professionals alike. Don't miss the opportunity to make this stunning new build your forever home!

View Property

14428 E Monument Drive Scottsdale, AZ 85262

$890,000

4 Beds

2 Baths

2,672 SqFt

Status Active

MLS # 6775886

Property Type Single Family Residence

Price Type --

Welcome to this gorgeous Rio Verde Foothills home featuring paved road access and shared water well. Newly designed private front patio with turf and paver walkway built this August. This 4 bedroom, 2 bathroom home sits on 1.14 acres of land with room for expansion if needed. The property also offers dual access from two streets, E. Monument Dr. & Roy Rodgers Rd. Enjoy some of the most beautiful 360 degree views Arizona has to offer from the roof-top deck. This home also includes many sustainable energy efficient features including, fully owned Solar System installed in 2021, new White Sun Reflective Roof in 2021, new High Efficiency A/C units installed in 2021, Level 2 EV Charger, and programmable wireless thermostat. Master Suite has its own separate zoned A/C and heating units.

View Property

24426 S Ribbonwood Drive Sun Lakes, AZ 85248

$890,000

3 Beds

2.5 Baths

3,166 SqFt

Status Active

MLS # 6779343

Property Type Single Family Residence

Price Type --

Welcome to unparalleled waterfront living in Arizona. This stunning home features a lavishly remodeled backyard, reminiscent of million-dollar estates, offering breathtaking views of the water that create a unique opportunity for luxury living. Inside, you'll find a meticulously maintained space with soaring ceilings and an expansive layout that exudes elegance. The kitchen boasts ample storage, complete with kitchen island, perfect for culinary enthusiasts, while inviting fireplaces enhance the warmth and charm of the living areas. Enjoy seamless indoor-outdoor living that makes entertaining a delight. Master suite features low threshold shower & soaking tub. This property is truly one-of-a-kind, don't miss your chance to experience the best in waterfront luxury!

View Property

19428 W Colter Street Litchfield Park, AZ 85340

$890,000

6 Beds

4.5 Baths

4,861 SqFt

Status Active

MLS # 6779805

Property Type Single Family Residence

Price Type --

Introducing an original homeowner masterpiece in Litchfield Park's prestigious Jackrabbit Estates. This one-of-a-kind 6-bedroom, 4.5-bathroom residence feels like home from the moment you step inside. Entertain effortlessly with an inviting family room, formal dining room, and an open-concept that flows into the kitchen. This kitchen is as functional as it is beautiful, making cooking and entertaining a true pleasure. Stunning hardwood floors throughout, high ceilings and abundant natural light coming in from large windows. A main-floor ensuite with its own private living room offers an ideal setup for guests or multigenerational family members. This home features two separate staircases leading to the upper level, adding convenience and style to the layout. Whether you're coming from the main living area or the ensuite of the house makes navigating between floors a breeze. Upstairs, you'll find the guest bedrooms, a practical Jack & Jill bathroom and an additional flex room that can easily serve as a seventh bedroom, home office, or creative space. Send clothes straight from upstairs to the laundry room below with a convenient laundry chute, saving time and hassle. The expansive primary suite is a true sanctuary, boasting panoramic mountain views, a cozy sitting room or nursery option, and a spa-inspired bath. The backyard is a meticulously crafted oasis, with an extended covered patio, a refreshing lap pool, mature fruit trees, and a putting green for golf enthusiasts. Additional amenities include a soft water loop, an RV gate, a spacious 3-car garage, and gorgeous sunset views that complete this luxury experience. This home combines elegance, function, and stunning scenery - a true gem in Jackrabbit Estates!

View Property