#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.

#1 Answer to the Housing Shortage: New Construction | Simplifying The Market

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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5345 E Mclellan Road Unit 118 Mesa, AZ 85205

$850,000
3 Beds
3 Baths
2,702 SqFt
Status Active Under Contract
MLS # 6755884
Property Type Single Family Residence
Price Type --
Stunning Home for Sale in Gated Golf Course Community - Alta Mesa Estates Welcome to this exquisite home in the highly sought-after gated golf course community of Alta Mesa Estates. This luxury property boasts impeccable craftsmanship and high-end finishes throughout. As you step inside, you'll be greeted by an inviting foyer with graceful archways and a living room featuring elegant crown molding. Enjoy formal dining and a versatile den/office with a private courtyard, perfect for work or relaxation. The chef's kitchen is a true showstopper with custom cabinetry, crown molding, a glass tile backsplash, a large prep island with a breakfast bar, granite countertops, stainless steel appliances, and double ovens. A cozy breakfast nook with bay windows completes this beautiful space. Throughout the main living areas, you'll find wood-look porcelain tile flooring, adding both style and durability. Upstairs, a cozy loft offers a perfect spot for a reading nook, while the grand primary suite features balcony access, a walk-in closet, and a luxurious ensuite bathroom. The backyard oasis is ideal for entertaining, with a covered patio, multiple seating areas, and a saltwater pool with water features, creating a private resort-like atmosphere. Key Features: Located in NE Mesa with easy access to the 202 and US 60 Minutes from downtown Phoenix, Scottsdale, and Gilbert Close to Tonto National Forest (10-15 minute drive) Newer HVAC units and pool heater Fiberglass exterior windows and solid core exterior doors New ceramic tile in all three bathrooms Beadboard ceilings in the front entry and covered back porch Many more upgraded features throughout This home is perfect for entertaining, relaxing, and enjoying the Arizona lifestyle. Don't miss this exceptional opportunity!

26199 S 227th Street Queen Creek, AZ 85142

$850,000
4 Beds
4.5 Baths
3,621 SqFt
Status Active
MLS # 6754975
Property Type Single Family Residence
Price Type --
Experience luxury living in this turnkey home, featuring high ceilings, expansive windows, and abundant natural light. Enjoy versatile spaces with a dedicated office and a separate movie room, while the serene primary suite offers a spa-like bathroom with his-and-her sinks and an additional powder space. Each junior suite comes with its own bathroom, ensuring comfort for everyone. The low-maintenance backyard, complete with lush turf and shade-providing trees, adds to the appeal. The original owners did not skip on the details, making it a dream home to move into! This community has something for everyone to enjoy. It features two outdoor parks, children's orchards, playgrounds, a scenic lake, and bike paths, pools and more! DISCOVER YOUR DREAM LIVING TODAY!!!!

22462 N 80th Lane Peoria, AZ 85383

$850,000
5 Beds
2 Baths
2,824 SqFt
Status Active
MLS # 6760556
Property Type Single Family Residence
Price Type --
Your dream home is finally here! This beautiful 5-bedroom, 2-bath residence boasts a 3-car garage, an RV gate, and an impeccably designed front yard. Inside, you'll find a living/dining room with high ceilings and stone tile flooring. You'll also find a dry bar perfect for entertaining. The spacious great room boasts classic plantation shutters and a surround sound home theater system. Kitchen equipped with quartz counters, white shaker cabinetry, chic pendant lighting, stainless steel appliances, and a center island with a breakfast bar. The main bedroom offers wood flooring, an ensuite with dual sinks, and a walk-in closet. Gorgeous Backyard for entertaining features a pool with a fountain, built in gas grill, gas fire pit, and an in-ground trampoline. Enjoy breathtaking sunsets in the enchanting backyard, showcasing a covered patio, pristine artificial turf, a shed for added storage, a warm firepit, a built-in BBQ, and a sparkling pool for endless summer fun. This gem will sell fast!

4760 W Mountain Hollow Loop Show Low, AZ 85901

$850,000
3 Beds
2 Baths
2,552 SqFt
Status Active
MLS # 6748773
Property Type Single Family Residence
Price Type --
Welcome to your dream home! This beautiful 3-bedroom property with massive bonus room above garage offers a perfect blend of comfort and convenience. Here are some of its standout features! Spacious open concept cathedral main living area. Real stone hearth with programmable thermostat pellet stove. Don't like the pellet stove then swap out for a natural gas fireplace as gas line is already there. Custom soft close cabinets throughout entire house (even the laundry room) with quartz counters and all lower kitchen cabinets with pull out shelves. Laundry room also include a full-sized upright freezer. With three generously sized bedrooms, there's plenty of room for family, guests, or even a home office. Large master on sweet with massive full ceramic double shower, double sinks, heated ceramic floors with programmable thermostat, very large soaking tub and huge custom designed walk-in closet. Guest bathroom is also a well-appointed designed with modern fixtures and finishes for your comfort and convenience including ceramic shower around the tub. Huge bonus room above garage could have many uses: home office, arts and crafts room, extra sleeping quarters, movie room, near endless possibilities). Expansive 3-Car Garage with space for work shop area and two large heavy duty storage racks. The garage ceiling is over 11ft permitting room for a car lift. Whether you have multiple vehicles, boat, UTV or need extra storage space, the extra-large three-car garage has you covered. Outside paver RV parking with full hook-ups and 50 Amp receptacle. Traveling enthusiasts will love the dedicated RV parking space making it easy to hit the road at a moment's notice. This home is perfect for those who value comfort, space and functionality. Then step outside to the front or back porch and enjoy your wine or coffee while watching the sun rise and sun set. Out back is a gas grill converted to natural gas (no more lugging propane bottles) and a natural gas fire ring perfect for those cool or winter evenings. Just off the back porch is a paver patio with power cabling under the house waiting for you to add your hot tub. For your safety and security along with a fire hydrant in the front yard, this house also has a complete automatic security system with motion sensors, live and recorded video, and smoke, fire, CO2 and crawl space freeze warning sensors. HVAC is a split system so you can control both floors to your comfort. Also remember that most of the furniture is also available outside of escrow. Just look at those powered recliners!!!! Be warned if you see it you will want to buy it. Home is nestled on TWO lots that have been combined offering additional privacy between neighbors and creates more of an estate feel

28657 N 68th Drive Peoria, AZ 85383

$850,000
4 Beds
3 Baths
3,064 SqFt
Status Active Under Contract
MLS # 6756127
Property Type Single Family Residence
Price Type --
Welcome to your dream home nestled in a serene cul-de-sac! This semi-custom masterpiece boasts four spacious bedrooms plus a versatile den, perfect for a home office. With three beautifully appointed bathrooms, this residence offers both comfort and convenience. Step inside to discover an inviting open concept layout that seamlessly connects the dining room and living areas, making it ideal for entertaining! The chef's kitchen is a culinary delight, featuring modern appliances, ample counter space, and elegant finishes. As you venture outside you'll be greeted by a sparkling pool that promises endless summer fun, surrounded by lush landscaping and varieties of citrus, pomegranate and fig trees. Relax in beautifully designed courtyards. HUGE BONUS $45,000 Solar Owned for your buyers.

15728 E Burro Drive Fountain Hills, AZ 85268

$850,000 - 3Br/2Ba -  for Sale in Fountain Hills 605-a Lt 24 Bk 1 Lt 14,15 Blk 2, Fountain Hills
Open House
$850,000
3 Beds
2 Baths
2,304 SqFt
Status Active
MLS # 6777632
Property Type Single Family Residence
Price Type --
This beautifully upgraded two-story residence combines style, comfort, and modern updates to create the ideal retreat. With no HOA and an impressive 2,304 square feet of living space, this property offers three spacious bedrooms, two full bathrooms, and a versatile layout perfect for both relaxation and entertaining. Enter through a welcoming front courtyard and into a voluminous family room, where a floor-to-ceiling electric fireplace creates a stunning focal point. The family room flows seamlessly into the eat-in kitchen, fully equipped with a suite of stainless-steel appliances, rich cabinetry, and generous granite countertops, making it an entertainer's dream. Expansive windows bathe the home in natural light and offer scenic views from multiple vantage points. Upstairs, the master bedroom offers the ultimate retreat, with its own private patio exit, an ensuite bathroom with granite finishes, and a luxurious walk-in closet. The home is further enhanced with new luxury vinyl flooring, fresh interior/exterior paint, updated guest bathroom vanities, and stylish ceiling fans and fixtures, all completed in 2024. The exterior is equally captivating. The front yard is enhanced with gravel and stone landscaping, sprinkler systems, and automated timers for low-maintenance care. A private pool with a travertine surround is the highlight of the backyard, offering a luxurious space to cool off on warm days. The stone-paved driveway leads to a two-car garage, complete with an electric door opener and an inside entrance. Don't miss the chance to own this beautifully updated property that embodies Arizona living at its finest. Schedule your viewing today!

7680 E Golden Eagle Circle Gold Canyon, AZ 85118

$850,000 - 3Br/3Ba -  for Sale in Golden Eagle Village At Superstition Foothills, Gold Canyon
Open House
$850,000
3 Beds
3 Baths
2,382 SqFt
Status Active
MLS # 6780999
Property Type Single Family Residence
Price Type --
Undoubtedly one of the finest locations in the coveted Golden Eagle Village at Superstition Mountain Golf & Country Club, a prestigious guard-gated community. Boasting 3 bedrooms and 3 baths, the villa also includes a separate casita, making it an ideal lock-and-leave abode. Generously sized kitchen island, elegant plantation shutters, lofty ceilings, 8' solid core doors, and a cozy fireplace, are among its notable features. Each bedroom has its own private bathroom, ensuring maximum comfort and privacy. Also NEW HVAC unit. The patio area is perfect for hosting get-togethers with its built-in BBQ, a captivating west-running brook just a few feet away and picturesque views of the majestic Superstition Mountain, rendering it an idyllic sanctuary. The community amenities are simply unparalleled, including access to a private golf club, championship courses designed by the legendary Jack Nicklaus, a clubhouse, fitness center, heated swimming pool, tennis and pickleball courts, and even a dog park. Membership to the club is sold separately.

15863 N 46th Place Phoenix, AZ 85032

$850,000 - 3Br/2Ba -  for Sale in Longmoor Estates, Phoenix
Open House
New
$850,000
3 Beds
2 Baths
2,014 SqFt
Status Active
MLS # 6783997
Property Type Single Family Residence
Price Type --

4241 S Danyell Drive Chandler, AZ 85249

$850,000 - 5Br/4Ba -  for Sale in Cooper Corners West, Chandler
Open House
$850,000
5 Beds
3.5 Baths
3,996 SqFt
Status Active
MLS # 6781019
Property Type Single Family Residence
Price Type --
LOOK NO FURTHER! THIS BASEMENT HOME HAS IT ALL! LOCATED IN THE DESIRABLE FULTON COMMUNITY, COOPER CORNERS! ENJOY A STUNNING OPEN KITCHEN WITH TONS OF CABINETS, HUGE ISLAND & GRANITE COUNTER TOPS. PRIMARY BEDROOM FEATURES CLASSY CLOSETS & RAISED BATHROOM VANITIES. OTHER UPGRADES GAS FIRE PLACE, PLANTATION SHUTTERS, SURROUND SOUND, SOFT WATER SYSTEM, BUILT IN VACUUM SYSTEM,,INTERCOM & RV GATE, BACKYARD FEATURES SPARKLING POOL WITH WATER FEATURE, BUILT IN BBQ + FIRE PIT.ADDITIONALLY THERE IS A HUGE CASITA STYLE/FLEX ROOM W KITCHENETTE,BATHROOM & BEDROOM WITH SPACE FOR A SECOND STACKABLE WASHER/DRYER. BASEMENT BOASTS A LARGE FAMILY ROOM, FULL BATHROOM & THREE SPACIOUS BEDROOMS! EASY ACCESS TO FREEWAYS, SHOPPING, & DINING! GREAT NEIGHBORHOOD! THIS HOME IS SPECIAL! DON'T WAIT. COME BUY TODAY!

14534 W Hidden Terrace Loop Litchfield Park, AZ 85340

$850,000 - 3Br/3Ba -  for Sale in Villas At Litchfield Park, Litchfield Park
Open House
New
$850,000
3 Beds
2.5 Baths
2,574 SqFt
Status Active
MLS # 6784656
Property Type Single Family Residence
Price Type --
Nestled in the prestigious gated community of ''The Reserve'' in Litchfield Park on the Wigwam Golf Course, this stunning home sits on the largest lot in the neighborhood and offers 3 bedrooms, a versatile den, and 2.5 bathrooms. Beyond the private courtyard gate, you'll be greeted by soaring ceilings and an open layout designed for modern living. The gourmet kitchen boasts custom wood cabinetry, stainless steel appliances, a built-in microwave and oven, a gas cooktop, and a spacious island with barstool seating overlooking the inviting living space. An OWNED SOLAR package dramatically reduces energy costs, and recent upgrades, including new AC units, a hot water heater, fresh paint, and new carpet, make this home move-in ready. The luxurious primary suite features a custom-tiled walk-in shower, dual sink vanity, and a walk-in closet, while the guest bedrooms share a convenient Jack-and-Jill bathroom. The additional den is perfect for a home office, gym, or extra living space. Outside, the backyard is a true entertainer's paradise with a paver patio, a covered pergola, a built-in BBQ, a gas fireplace with seating, and a sparkling pool complete with a swim-up bar and sunken covered seating area. Fully landscaped with lush grass, vibrant plants, and landscape lighting, this outdoor retreat is both stunning and functional. Don't miss your chance to live the luxury lifestyle in this sought-after community!

2634 N 141st Lane Goodyear, AZ 85395

$849,999
5 Beds
4.5 Baths
5,128 SqFt
Status Active
MLS # 6782102
Property Type Single Family Residence
Price Type --
Energy-efficient Palm Valley 5 bedroom 5 bathroom with finished basement and castia over 5000 SqFt with golf course views. This exquisite home offers attractive curb appeal w/stone accents on the façade, lush green landscape, private courtyard w/firepla ice. Impressive interior showcases crown molding, archways and plantation shutters throughout. The Chef's kitchen has six burner gas stove, staggered cabinets, tile backsplash, granite counters, island w/breakfast bar, SS appliances, double wall ovens, and breakfast nook. Spacious great room with a pre-wired surround sound, fireplace with double sliding glass doors to the backyard. The large master bedroom has an upgraded snail shower, huge walk-in closet and dual vanities. Property also features a finished basement that boasts two bedrooms full bathroom and its own living room. The spacious casita has it's own private entrance bathroom.

19702 W Elliot Road Buckeye, AZ 85326

$849,999
2 Beds
2 Baths
1,920 SqFt
Status Active
MLS # 6742176
Property Type Single Family Residence
Price Type --
This expansive 4-acre property offers the perfect blend of comfort, functionality, and freedom without the constraints of an HOA. Ideal for those with a passion for outdoor toys, RV(s), &/or horses. This property boasts a well-appointed 2-bedroom, 2-bathroom single-family home with 1920 sq. ft. of updated living space & 3-car garage, and a 40X80 workshop giving you ample space (3200 SQFT) for your toys and your latest projects. The highlight of this unique property is the rooftop balcony, where you can take in breathtaking 360-degree views of the surrounding mountains and cityscape. Equipped with both water and power, this elevated space is perfect for relaxation or entertaining under the stars. Prepare to be amazed by the open floor plan equipped with wood-look tile flooring throughout. Large family room offers a wet bar ideal for entertaining. Impeccable kitchen complete with recessed lighting, NEWER black SS appliances, plenty of crisp white cabinets, an island with a breakfast bar, and quartz counters. Make the flexible den a media room or additional lounging area. Main retreat boasts a walk-in closet and a private ensuite with a separate seating/office area. Enjoy views of the Estrella and White Tank Mountains throughout the kitchen and bedroom windows. This property is 1 of a kind. Don't miss it!

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