#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

1310 Kenrick Drive Wickenburg, AZ 85390

$890,000

3 Beds

2 Baths

1,490 SqFt

Status Active Under Contract

MLS # 6745756

Property Type Single Family Residence

Price Type --

Welcome to your peaceful retreat in Wickenburg! This beautifully-crafted log home offers 3 bedrooms & 2 baths across 1,490 square feet of comfortable living space, nestled on 12.75 acres of endless possibilities. Enjoy complete privacy while being conveniently close to historic Wickenburg, just 4 miles from the Wickenburg Ranch Golf & Social Club, and near all the local restaurants & shopping spots. Step inside to a warm & inviting interior, where exposed beams on the vaulted ceilings add character, and soft carpet ensures coziness in all the right places. Enjoy the bright & airy living room, perfect for entertaining, and flows seamlessly into the dining area and the fully-equipped kitchen; A cook's delight with ample cabinet & counter space, a peninsula with breakfast...CONTINUE READING. ...breakfast bar seating. Unwind in the Arizona room, ideal for relaxation at any time of day. The romantic main suite features a cozy sitting area, balcony access, a private bathroom & a walk-in closet. The other two bedrooms are perfect for guests, sharing a full bathroom that's just right for their needs. Outside, the views are simply breathtaking, with stunning sunsets behind the mountains, all enjoyed from the comfort of your covered patio. The expansive, fenced backyard offers room for all your outdoor passions, from storing your toys in the storage shed, working in the detached 2-car garage with a carport & workshop, to caring for horses in the arena, corrals & vast roaming space. This property is more than just a home; it's a lifestyle waiting for you to make it your own. Come explore all the potential this exceptional property has to offer! Includes two parcels: APN: 50503-023C and APN: 505-03-023J. Property includes 25x50 Pole Barn; 20x14 Corral with 100 sq. ft Horse Arena: 14x20 Shop Tack Shed; Goat Pen; Bird Aviary; Chicken Pen; Metal Roof on Home and Garage.

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2503 S Wattlewood -- Mesa, AZ 85209

$890,000

3 Beds

2.5 Baths

2,922 SqFt

Status Active Under Contract

MLS # 6779145

Property Type Single Family Residence

Price Type --

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5712 N Scottsdale Road Paradise Valley, AZ 85253

$890,000

3 Beds

2 Baths

1,922 SqFt

Status Active

MLS # 6714346

Property Type Townhouse

Price Type --

Prime location Paradise Valley home in a quite GATED community. New Roof replacement with 10 year warranty for new owner. This fully remodeled 3-bedroom gem offers the ultimate blend of luxury and comfort; spacious living area, featuring soaring vaulted ceilings with beautiful wood beams and a unique bar under staircase. The open concept kitchen with brand new stainless steel appliances and waterfall countertops with over hang. Bathrooms have been remodeled to offer modern convenience and style with led mirrors and freestanding tub. Upstairs' master is spacious offering a view of Camelback mountain and also has a private outdoor patio. The community features a heated pool, spa, work out facility and club house for your enjoyment. Close to 5-star dining, shopping & entertainment.

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28042 N 45th Street Cave Creek, AZ 85331

$890,000

4 Beds

3.5 Baths

3,489 SqFt

Status Active

MLS # 6752295

Property Type Single Family Residence

Price Type --

Welcome to luxury living in the gated community of Diamond Creek! This home is truly a rare find with its luxurious upgrades, prime location with mountain views & impeccable maintenance. This beautiful 4 bed, 3.5 bath home boasts cathedral ceilings, gleaming wood and travertine floors that shows pride of ownership. Enjoy a gourmet kitchen with top of the line stainless steel appliances with a six burner gas range/griddle, double ovens and custom cabinetry. All the bathrooms have been upgraded with custom cabinetry, beautiful stone/tile work and vessel sinks. Step outside to relaxing waterfalls, pebble-tec pool and tranquil spa, enveloped by the lush foliage of mature trees that offer the ultimate privacy. Entertaining guests is easy with a built-in BBQ, multiple seating area, turf putting green. Even the garage is upgraded boasting epoxy flooring and custom cabinets. Majestic mountain views on a premium corner lot with open space behind the home all with easy access to golf, hiking, biking, restaurants and A+ schools. Welcome home to Diamond Creek Community!

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10150 E Talon Avenue Mesa, AZ 85212

$890,000

6 Beds

4.5 Baths

3,287 SqFt

Status Active

MLS # 6762507

Property Type Single Family Residence

Price Type --

Welcome to this stunning 3,287 sq ft home situated on an upgraded lot within the desirable Cadence community. As you step inside, you'll be greeted by luxury vinyl plank flooring throughout the first floor and a striking black metal railing leading up the stairs. The gourmet kitchen is a true showstopper, featuring ceiling-height cabinets, quartz countertops with a matching backsplash, a farmhouse sink, a sleek black faucet, modern black pendant lighting, and an extended two-tone island that makes a bold statement. The living room offers seamless indoor-outdoor living with a full wall slider, perfect for entertaining. The first-floor primary suite boasts ample natural light, no carpet, surround sound speakers, and its own full wall slider to the backyard. The ensuite bathroom has been upgraded with dual sinks, a rainfall showerhead, floor-to-ceiling tile in the shower, and a massive walk-in closet. There's also an additional ensuite bedroom on the first floor, perfect for guests. The downstairs laundry room is equipped with upper and lower cabinets, a built-in sink, and plenty of storage. Upstairs, you'll find a spacious loft with upgraded carpet and padding, along with generously sized bedrooms, some featuring walk-in closets. The backyard is an entertainer's paradise, with over $100,000 in upgrades including an extended patio, gas firepit with a gas stub, travertine pavers, a prewired TV mount, and a heated pool with a UV sanitizer. Plus, it backs up to Encore, offering mature trees and a lush green view. Additional features include a tankless water heater and a whole-home filtration system for added comfort. As part of the Cadence resort-like community, enjoy access to a main pool, lap pool, spa, fitness center with a yoga studio and cycling room, and a game room. Live in luxury and comfort in this meticulously designed home, and experience all the amenities Cadence has to offer. Don't miss out on making this dream home yours!

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15407 E Palisades Boulevard Fountain Hills, AZ 85268

$890,000

3 Beds

3 Baths

3,196 SqFt

Status Active

MLS # 6754256

Property Type Single Family Residence

Price Type --

Discover your dream home nestled in the picturesque town of Fountain Hills where design meets comfort with views from every room. Home is built of concrete block for energy efficiency, has over 3100 sq ft, with three bedrooms, all suites, providing a personal retreat for family members and guests alike, all in a separate wing!! Enjoy the convenience and privacy that these oversized suites offer. The home is situated on .42 acre lot so there is ample outdoor space with a pool, gardening area, fruit trees BBQ island with seating. Relax and unwind on the expansive 450 sq ft patio that offers stunning vistas of 4 peaks and views of the world famous fountain! The outdoor space is ideal for morning coffee, sunset cocktails, or simply soaking in the natural beauty of the space. The home is equipped with top-of-the-line products including high-end kitchen appliances that will delight any culinary enthusiast. The property was fitted with newer HVAC units in 2021, roofing that is 10 years old but cost close to $27,000 due to high end underlayment and workmanship (documents available upon request). Pella windows were installed to avoid the noise from Palisades and yet allow you to take in the mountain views from the front areas of the home. Enjoy pure, clean water with the Kinetico water treatment system that provides peace of mind and enhances your overall living experience. This residence is not just a home; it is a lifestyle choice that embodies great living in a serene environment. Fountain Hills is renowned for its breathtaking views , vibrant community, making it an ideal location for families and individuals alike. Whether you are looking to entertain guest, enjoy quality family time, or simply want to relax in your own private sanctuary, this property has it all. Don't miss the opportunity to own a piece of paradise in Fountain Hills. Your dream home awaits!

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7433 E Via De Luna Drive Scottsdale, AZ 85255

$890,000

3 Beds

2.5 Baths

2,378 SqFt

Status Active

MLS # 6766815

Property Type Townhouse

Price Type --

Pinnacle at Silverstone in North Scottsdale. A luxury community offering resort style living. Built in 2020 this Townhome features high ceilings, an open concept and an enormous kitchen island, perfect for entertaining. Sitting just under 2,400 square feet, this popular layout is the largest floor plan in the community. Enjoy the many upgrades throughout this home like the gourmet chefs kitchen, motorized window shades, and a built in surround sound system. Step beyond the gates and enjoy the vibrant lifestyle that North Scottsdale has to offer. Walk or bike to nearby shopping/dining, enjoy endless trails and paths, or grab the golf clubs and head to one of the numerous surrounding Golf Courses. This property is just 5 minutes from the 101 freeway & 10 minutes from the Scottsdale Airport. Excellent Community amenities include BBQ area, pool, spa, and many more. This gem is waiting for you!

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16829 E Nicklaus Drive Fountain Hills, AZ 85268

$890,000

4 Beds

3 Baths

2,897 SqFt

Status Active

MLS # 6770925

Property Type Single Family Residence

Price Type --

Great location, Great lot. Located right behind tee box on Desert Canyon Golf Club. 4 Full bedrooms and 3 full baths. Resort style pool. RV Parking, Newer roof and mechanical. Home needs paint and carpet and seller willing to negotiate. 3 car garage, front courtyard, tile roof. Craft room, large laundry room and bonus room.

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5922 W Michelle Drive Glendale, AZ 85308

$890,000

3 Beds

2.5 Baths

2,176 SqFt

Status Active

MLS # 6776581

Property Type Single Family Residence

Price Type --

Finally! A spectacular horse property is now available. Fully updated kitchen with all new appliances and deep farmhouse sink. Impressive Calacatta floor tile throughout. Spacious master bedroom with a step-up sitting area / office / workout area. Formal living room & dining room, breakfast nook. Wood burning fireplace. Roof replacement in mid-2022. Three car garage with new epoxy floor. RV gate with plenty of room to park the toys, or multiple cars, or care for your horses! Beautifully landscaped front and back. Amazing backyard with a new gazebo and putting green is perfect for entertaining! Rear patio with new travertine and custom wood slat ceiling. Tack room, feeder and corral are already on site. Security cameras. Water filtration system. Tinted front windows for energy efficiency. Water fountain in backyard. Mini-farm with drip system - lemon, mulberry, fig, apples, olives, peaches. All appliances on the property stay with the home. Too many upgrades to list! This home is beyond awesome! Excellent location - convenient to shopping, schools, medical and Arrowhead Mall !

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7427 W Union Hills Drive Glendale, AZ 85308

$890,000

7 Beds

4.5 Baths

4,001 SqFt

Status Active Under Contract

MLS # 6723006

Property Type Single Family Residence

Price Type --

Welcome to your dream home! Nestled on a sprawling .81-acre lot, this exceptional property is just a short drive from Arrowhead Towne Center, offering the perfect blend of tranquility and convenience. Best of all, there are no HOA fees! Ideal for an extended family of someone looking to make extra income. Main House Features: •

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4223 N 31st Place Phoenix, AZ 85016

$889,999

4 Beds

3.5 Baths

2,877 SqFt

Status Active

MLS # 6634256

Property Type Single Family Residence

Price Type --

Spectacular opportunity in Arcadia Lite/ Biltmore! Starting with the main house, you are greeted with a large entry and beautiful atrium that separates the home. You will find a large open floorplan with an updated kitchen, living room w/fireplace and dining area. On the other side of the entry is a large master suite with private updated bathroom and custom closet with built in safe. Additionally, there is a large bedroom, full bath and laundry room. Don't miss the 2 car garage. The back house is a 2 bedroom, 1.5 bath with its own separate entrance and patio off of the adjacent alley. Full kitchen, nook area, separate living room and its own laundry area. Both units have been fully remodeled with new A/C in 2017 and 2023 Don't miss out on this beauty

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6499 E Night Glow Circle Scottsdale, AZ 85266

$889,999

2 Beds

2 Baths

1,974 SqFt

Status Active

MLS # 6723772

Property Type Single Family Residence

Price Type --

Beautiful home well maintained by original owners. Open and large floor plan with the right amount of gathering areas. Enjoy the front courtyard in the cooler months out front with mountain views. Enjoy the private Heated Pool and Spa all year round! Lovely covered patio with built in BBQ. Large eat in Kitchen open to Family Room with a gas fire place. Separate den/office. Terravita is a life style to enjoy! Private Golf Club Membership available, dining, pickle ball, tennis courts walking and biking paths through out neighborhood. This home is the beginning of a whole new life style.

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