#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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6803 E Main Street Unit 4407 Scottsdale, AZ 85251

$850,000

2 Beds

2.5 Baths

1,622 SqFt

Status Active

MLS # 6749449

Property Type Apartment

Price Type --

Welcome to The Mark in Old Town Scottsdale, and to this amazing 1622 square foot home. This condominium has 2 large bedrooms, each with ensuite bath and spacious closets. Every room in the home has a view of the Papago or McDowell Mountains. Stone tile floors throughout contribute to a spacious feel. In addition, there is a sizeable laundry room, powder room, and plenty of closet and storage space. The updated kitchen includes a Wolf gas stove and GE Monogram appliances. The community has recently updated the rooftop pool/spa, outdoor kitchen, and entertainment areas, framing views of Camelback Mountain and downtown Scottsdale. Walkability is premier for one of the best locations in Old Town. You will definitely enjoy the classic elegance of The Mark.

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33325 W Old Us Highway 80 Highway Arlington, AZ 85322

$850,000

4 Beds

2.5 Baths

2,299 SqFt

Status Active

MLS # 6753494

Property Type Single Family Residence

Price Type --

Welcome to this charming 4BR, 2.5 bath Farm house on a 7.68-acre lot with impressive mountain views! Detached 15X40 shop w/ cooler, lift & air compressor. Covered (15X40)RV pad & 20X40 covering for boat. Aprx 3 acre fenced pasture with sprinklers. Huge outdoor patio & entertaining space includes bar, sink, grill, smoker, fridge, kegarator, fans & speakers. Newer roof, HVAC's & recent exterior paint. Primary downstairs retreat boasting two spacious closets and an ensuite with a dual sink vanity. Kitchen with new SS appliances, lots of cabinets, walkin pantry & breakfast bar. Upstairs 1 bath & 3 bedrooms-1 with access to a balcony and 1 with attic storage space. Many extras include: shutters, firepit, spa, garden & RV outlets (50amp & 30 amp). Country living and no HOA! Many possibilities!

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32313 N 16th Lane Phoenix, AZ 85085

$850,000

4 Beds

2.5 Baths

3,122 SqFt

Status Active

MLS # 6756171

Property Type Single Family Residence

Price Type --

Stunning TW Lewis home in a quiet, gated community in Sonoran Foothills. Stylish and functional floor plan with plenty of space to live, work and entertain. Warm neutral finishes, custom maple cabinetry, granite counters and plantation shutters throughout. Gourmet kitchen abuts den with stacked stone fireplace. Separate area for dining room if desired. Huge primary suite with walk-in closet, 3 additional bedrooms plus a large bonus space. Garage has epoxy floors and cabinets. An intimate courtyard upon entry and a spacious backyard with gorgeous desert views. Property backs to a wash making it very private and serene. Extensive walking, hiking and biking trails from your front door. Community amenities include parks, basketball, volleyball, tennis, pickleball, pool, spa and splashpad. Easy access to I17 and 303.

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39004 N 33rd Avenue Phoenix, AZ 85086

$850,000

4 Beds

4 Baths

3,206 SqFt

Status Active

MLS # 6763037

Property Type Single Family Residence

Price Type --

Enjoy your privacy without giving up the perks of living in town with nearby shopping, dining, and outdoor recreation. This 3206 sqft custom home was recently painted inside and out and sits on a quiet street with plenty of space to expand and includes an attached Casita with separate entrance off front Courtyard. The main home has 3 Bedrooms each with full Bathrooms, separate Office or 5th Bedroom, spacious eat-in Kitchen, Family Room, Great Room or Flex Room with wet bar. The Family Room and Primary Bedroom open up to a spacious covered Patio, large fully block-fenced Backyard with 2 RV Gates, sparkling Pool, built-in Fire Pit and BBQ area. Ample parking including an attached large double Garage with room to expand; add an RV garage, storage building or workshop. No HOA! Low assumable 3.25% mortgage. Home Warranty included.

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7640 E Snowdon Circle Mesa, AZ 85207

$850,000

5 Beds

4 Baths

3,426 SqFt

Status Active

MLS # 6759152

Property Type Single Family Residence

Price Type --

Discover luxury living in the prestigious Highlands at Las Sendas, nestled on a prime cul-de-sac lot. This home boasts nearly 11,000 sq. ft. of outdoor space with RV gate access and an oversized 3-car garage. Inside, elegance meets functionality with plantation shutters, granite finishes, and crown molding throughout. The gourmet kitchen is a chef's dream, complete with a spacious island featuring a gas cooktop, two dishwashers, and two refrigerators, perfect for entertaining. Retreat to the Master Suite, where a private sitting area opens to a deck with uninterrupted views of the preserve--no neighbors in sight! The two secondary bedrooms each offer their own en suite baths, ensuring comfort and privacy. Step outside to your personal oasis: a saltwater pool, outdoor kitchen, and fire pit, designed for unforgettable gatherings. This home offers more than just spaceit's an experience. Don't miss your chance to see what makes this property so exceptional!

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9225 E Barn Wood Lane Prescott Valley, AZ 86315

$850,000

4 Beds

3 Baths

2,299 SqFt

Status Active

MLS # 6757436

Property Type Single Family Residence

Price Type --

Custom designed horse set up built in 2021 at the back of the property is a horse lover's dream! This little ''farmette'' just needs your horses and chickens and it is turn-key! Inside the home features a Spacious Island Kitchen with loads of counter space and open to the gourmet kitchen complete with a new Wolf stove. Separate living room and Great room + 4 bedrooms. High End surround sound in family room and outside patio areas. Fully fenced back yard with excellent landscaping and lots of trees, Amazing well! Enjoy the master suite with large bath with jetted tub & Separate shower along with a massive walk in closet. 3 other good sized bedrooms perfect for family and guests. Solar system for low electric bills! A super opportunity for an amazing home. Extended 3 car garage, RV parking on the side + a large storage shed, roof is 8 years old. Built in cabinets in the garage. Security cameras on exterior of the house along with a ring doorbell system. New high end water filtration system installed includes RO system and water softener.

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15444 E Palo Brea Lane Scottsdale, AZ 85262

$850,000

4 Beds

3 Baths

2,766 SqFt

Status Active

MLS # 6770538

Property Type Single Family Residence

Price Type --

Experience luxury living in North Scottsdale without the hefty price tag. This stunning home sits on a sprawling acre of land, half a mile from Tonto National Park, with breathtaking views of Four Peaks and Granite Mountain. Practically new, it stands out with an exceptional outdoor living area that includes a custom retaining wall, fresh pavers, and a spacious turfed yard—perfect for entertaining. Inside, every room feels like it belongs in a magazine, illuminated with natural light and elegant finishes throughout. The kitchen and bathrooms, especially the luxurious owner's ensuite, showcase high-end upgrades. Thoughtful storage spaces and open floor plan maximize every square foot. It's the perfect balance of privacy and comfort, offering a retreat-like feel while still being in North Scottsdale. Plus, the shared well and no HOA provide major savings. Don't miss your chance to own a Scottsdale oasis!

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1243 E Artesian Way Gilbert, AZ 85234

$850,000

4 Beds

3 Baths

1,902 SqFt

Status Active

MLS # 6772579

Property Type Single Family Residence

Price Type --

Rare lakefront home in Harbor View at Wind Drift! 4 bed 3 bath updated home w/pool & spa-plus lakefront access w/private dock. Remodeled open concept kitchen: upgraded kitchen appliances-48'' custom Italian range, 48'' range hood, pot filler, stainless steel sink w/ commercial grade kitchen faucet, subway tile backsplash, large kitchen island, all new kitchen cabinetry & countertops. Main floor bedroom & full bath w/ spa like feel. Two living areas-one w/vaulted ceiling & faux ceiling beams & one w/fireplace. Plus new light fixtures and recessed lighting. 3 bedrooms upstairs including luxurious primary suite! Enjoy all the best in your low maintenance backyard with new turf on the side -heated pool & spa, covered patio, enjoy gas AND charcoal grills! New pool heater and new smart pool pump, new garage door motors, new paint thru the house. 3 car garage with EV charging. Close to shopping and all Gilbert's amenities!

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1120 N Road 1 -- Chino Valley, AZ 86323

$850,000

3 Beds

3 Baths

2,752 SqFt

Status Active

MLS # 6771043

Property Type Single Family Residence

Price Type --

Discover country living at its finest on nearly 5 acres in Chino Valley! This ranch-style home offers 3 beds, 3 baths, plus a den/office, and an extra-large master suite. The gourmet kitchen is a chef's dream. A one-bedroom guest house with a 2-car attached garage and a 3-car detached shop adds even more appeal. Outdoors, enjoy mature trees, a greenhouse, and a large deck. The property is fully landscaped with drip irrigation. Handicap accessible with wide hallways and doors. RV garage workshop (2,120 sq ft) and space for up to 10 cars. Amazing views throughout!

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7300 E Sand Hills Road Scottsdale, AZ 85255

$850,000

4 Beds

3 Baths

2,205 SqFt

Status Active

MLS # 6773182

Property Type Single Family Residence

Price Type --

Renovated gated luxury in North Scottsdale for under $1,000,000? Yes! Once inside this desirable gated community, you will be taken to your awesome new home that has been meticulously renovated and cared for. Awesome home for entertaining with separate living and family areas, and a kitchen that will make your friends totes envious of you. There is a bedroom/office downstairs and a full bathroom-perfect for multi-generational living. Upstairs are the master suite with gorgeous bathroom and other bedrooms. The best for last--the backyard. No neighbors behind you means more privacy, relaxing play pool, sunshine, margaritas, coffee or juice--this is desert living at its finest...and in North Scottsdale, close to TPC, Barrett Jackson auto Show, Mayo and everything else. Why ya waiting?

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3424 E Plum Street Gilbert, AZ 85298

$850,000

4 Beds

3 Baths

2,972 SqFt

Status Active

MLS # 6771552

Property Type Single Family Residence

Price Type --

Discover this stunning move in ready home that has it all! With 4 bedrooms, 3 bathrooms, an office, and a spacious loft, this beautiful residence is packed with upgrades. Meticulously maintained and beautiful inside and out! The open-concept floor plan features a bright and airy great room, a formal dining area, and high ceilings. The gourmet kitchen boasts gorgeous granite countertops and a generous island with new faucet. Enjoy high-quality plantation shutters, an osmosis system, a water softener, and more. The low-maintenance backyard is ideal for relaxation, complete with premium turf, a sparkling pool, and a built-in BBQ. New HVAC, water heater, garage door opener and spring, irrigation timer, ceiling fans/light fixtures and much more. Located in the sought-after Marbella Vineyards in Gilbert, this home offers convenient access to shopping, dining, and freeways.

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9056 E Maple Drive Scottsdale, AZ 85255

$850,000

4 Beds

2.5 Baths

2,145 SqFt

Status Active

MLS # 6772565

Property Type Single Family Residence

Price Type --

Welcome to luxury living in this move-in ready home in the sought-after Ironwood Village community with Mountain views, only this enclave of DC Ranch can offer! White Carrera Marble tile, lush carpet & wood-like flooring, high ceilings, recessed lighting, plantation shutters, custom closets & high quality details carry throughout the home. Enter into the bright & open floor-plan, into the formal living room & elegant formal dining room - glide into the family room w/ soaring ceilings & cozy fireplace, open to the eat-in-kitchen w/ Frigidaire SS appliances, Corian countertops, curved Peninsula bar-top & breakfast nook. The split-floor-plan deluxe master suite is downstairs & features beautiful bay-window, private patio access, full bath w/ dual-sinks, soak tub, resort-style shower & walk-in-closet - The luxuries extend to the remaining 3 guest bedrooms & 1.5 bathroom, upstairs. 2 car garage w/ epoxy garage floors with built-in cabinets. Enjoy the tranquil backyard complete w/ covered patio, turf grass & sparkling play pool - perfect for family or entertaining. Ideally located close to hiking, tennis, DC Ranch Crossing, Coyotes Ice Den, Grayhawk Golf Course, the 101 and so much more! Don't let your dream home slip away! More the love about this home: Interior & Exterior Paint (June 2019) New vinyl plank flooring throughout entire downstairs (July 2023)

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