#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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7131 W Emile Zola Avenue Peoria, AZ 85381

$849,900 - 4Br/2Ba -  for Sale in Tierra Norte 2 Lot 57-114, Peoria
Open House
New
$849,900
4 Beds
2 Baths
2,668 SqFt
Status Active
MLS # 6782935
Property Type Single Family Residence
Price Type --
Prepare to be enchanted by this stunning 4-bedroom haven featuring over $100K in upgrades! A newly painted interior favoring a sleek design & a modern feel. Upscale new wood-look flooring, stylish light fixtures & tall vaulted ceilings and so much more. Highlights include a living room & an open den that can be converted into an office or study. Generous-sized great room has a granite surround gas fireplace & French doors providing easy access to the back patio, seamlessly blending indoor-outdoor living. Fabulous kitchen is a culinary delight, fully equipped w/ample custom fitted white cabinetry, modern fixtures, built-in appliances, granite counters, a waterfall island, sitting area & an ample sized walk-in pantry. Plus multiple dining areas for family gatherings and/or entertaining. Romantic main retreat showcases a sitting area, outdoor access, & an elegant ensuite comprised of dual sinks, jetted tub, & a walk-in closet. Remodeled bathrooms designed with granite counters,custom cabinetry and modern fixtures & mirrors provide a complete spa-like experience. Resort-like backyard offers a covered paver patio with ceiling fans, multiple sitting areas, built-in gas BBQ, gazebo, a newly finished pebble sheen refreshing pool & spa, grassy play area for children/ dogs, citrus fruit trees galore and an RV gate for any sized recreational vehicles on this over sized 13,000+ square ft lot. Added bonus with new ac and new water heater. Act swiftly, this home will go quickly!

8201 E Cypress Street Scottsdale, AZ 85257

$849,900 - 4Br/2Ba -  for Sale in Cox Heights 1, Scottsdale
Open House
$849,900
4 Beds
2 Baths
1,478 SqFt
Status Active
MLS # 6777741
Property Type Single Family Residence
Price Type --
FULLY REMODELED-MODERN FARMHOUSE- SCOTTSDALE HOME!! VERY OPEN FLOORPLAN! Walls opened up, Expanded Primary Bedroom, Expanded bathrooms, and Raised hall ceiling! Boasting 4 bedrooms, 2 bathrooms on a LARGE Cul-De-Sac LOT! Nearly $200K in upgrades! Luxury Vinyl Plank flooring throughout with Custom carpet in bedrooms. Designer-Gourmet Kitchen with Custom Stained Butcher Block counters, All new soft closing cabinets and drawers, designer brick backsplash, farmhouse sink, and stainless steel appliances! Newly designed bathrooms with Quartz counters, shiplap, designers tiled floors and showers! All new doors, stylish fixtures and Lighting throughout! 2 car, new garage door and motor, and new epoxy flooring with LED recessed lighting. Exterior new Stucco and 2 tone paint. New 200 AMP panel and wiring. Enormous exterior covered patios, New front/back landscaping with new irrigation and a large side yard for games or dog play or anything you want! New tankless hot water heater, electric vehicle charging outlet! SEE DOCS TAB FOR FULL LIST OF UPGRADES Fantastic South Scottsdale Location! Close to Old Town, Dining, Shopping and Entertainment! Must See

25037 S Ribbonwood Drive Sun Lakes, AZ 85248

$849,900 - 3Br/2Ba -  for Sale in Sun Lakes 27b, Sun Lakes
Open House
$849,900
3 Beds
2 Baths
2,631 SqFt
Status Active
MLS # 6732045
Property Type Single Family Residence
Price Type --
GORGEOUSLY REMODELED, CUSTOM Borgata model (3 Bedroom PLUS DEN & 2 Bath) w/ PHENOMENAL GOLF COURSE VIEWS in the GATED, ADULT COMMUNITY OF IRONWOOD! You'll be delighted with all of the LUXURIOUS UPGRADES throughout this home like: Wood-Look tile, designer lighting, plantation shutters, neutral colors, NEWER HVAC SYSTEMS & 2-car plus GOLF CART GARAGE. The GREAT ROOM is open to the Chef's kitchen w/ QUATRZ, MASSIVE ISLAND, NEW APPLIANCES & HUGE WALK-IN PANTRY. The AMAZING MASTER SUITE has a SITTING ROOM & HUGE WALK-IN CLOSET. BOTH BATHROOMS ARE REMODELED! 2 OVERSIZED GUEST BEDROOMS & A DEN TOO! EXPANSIVE PAVER PATIO W/ GREAT GOLF COURSE VIEW & LOW MAINTENANCE LANDSCAPING. ALL OF THIS & Community amenities like: golf, tennis, pickleball, pools/spas, fitness center, clubs & restaurants!

28352 N 124th Drive Peoria, AZ 85383

$849,900 - 2Br/3Ba -  for Sale in Sunset Ridge At Trilogy At Vistancia Par C-15-c19-, Peoria
Open House
$849,900
2 Beds
2.5 Baths
2,438 SqFt
Status Active
MLS # 6752527
Property Type Single Family Residence
Price Type --
PRICED TO SELL! Welcome to Luxury Living with OWNED SOLAR on an oversized CORNER LOT boasting 2 bedrooms plus den, 2.5 bathrooms and 2,430+ sq. ft. Featuring 10ft ceilings and PLANTATION SHUTTERS throughout. A chef's dream kitchen featuring stainless-steel appliances, dual kitchen islands, GAS COOKTOP and under cabinet lighting! Benefit from 34 fully OWNED SOLAR panels. HUGE PRIMARY SUITE with access to back patio, bath w/dual sinks, shower, soaking tub, and 2 WALK-IN CLOSETS. The backyard is truly a PRIVATE OASIS with neighbors only on 1 side. Soak in your PRIVATE POOL and enjoy the mature landscaping. Sip your morning coffee on the pergola covered courtyard and experience beautiful sunsets on the large, covered patio with sensor motorized sunscreens. The 3-car tandem garage provides ample space for vehicles, with built-in storage cabinets. This home has been meticulously maintained, a MUST SEE! All of this is located within the award-winning 55+ Community of Trilogy at Vistancia, that offers resort style living at its finest.

14429 N 75th Drive Peoria, AZ 85381

$849,900 - 4Br/3Ba -  for Sale in Bella Pasa, Peoria
Open House
$849,900
4 Beds
3 Baths
2,650 SqFt
Status Active
MLS # 6512351
Property Type Single Family Residence
Price Type --
** QUICK MOVE-IN HOME*** Beautiful Modern Cottage on an 8,352 sq/ft lot, with approximately 2650 sq/ft on a single level, with 10' ceilings and 8' doors. A spacious 3 car tandem garage with upgraded electrical package including car charger outlet that should serve all your garage needs! The beautiful home includes designer decorator selections with white and charcoal 42'' shaker cabinets, popular Calacatta quartz countertops and waterfall edges in the kitchen and island, LG appliances including wall ovens in the gourmet kitchen. Extended atrium slider doors in the great room leading into the backyard. Beautiful custom designed backyard and front yard landscaping with paver driveway.

16155 E Links Drive Fountain Hills, AZ 85268

$849,900 - 3Br/4Ba -  for Sale in Balera At Firerock Condominium, Fountain Hills
Open House
$849,900
3 Beds
3.5 Baths
2,736 SqFt
Status Active
MLS # 6773766
Property Type Townhouse
Price Type --
Experience resort-style living in this updated golf villa on the 11th hole of Firerock Country Club, offering 180-degree views of the 10th Green and McDowell Mountains. This 2,736 square foot home features three bedrooms with ensuite bathrooms, a spacious family room, and a living room, ideal for zoned living. Enjoy new luxury vinyl plank flooring throughout the main floor and fresh carpeting in the upper and lower bedrooms and stairs. All rooms and ceilings are freshly painted, with updated light fixtures, ceiling fans, and a stunning 24-foot stone fireplace. The kitchen is adorned with granite countertops, painted cabinets, and new hardware. Recent upgrades include a 5-ton HVAC system (July 2024), water softener (June 2024), water heater (June 2024), and water pressure valve (July 2024). Additional features include plantation shutters, an oversized two-car garage, private patios, security gates, and access to a community pool. Embrace the exceptional golf course lifestyle in this magnificent villa!

41007 N Harbour Town Way Anthem, AZ 85086

$849,500
3 Beds
3.5 Baths
2,632 SqFt
Status Active
MLS # 6709744
Property Type Single Family Residence
Price Type --
Luxurious Living in Anthem Country Club! Welcome to your new sanctuary nestled within the private gates of Anthem Country Club. This exquisite home, set on a coveted east-facing golf course lot within close proximity to the main gate, offers a perfect blend of elegance and comfort. Wake up to the gentle morning sunshine and enjoy the serene golf action at the tee box of Hole #5 on the Ironwood course, all from the comfort of your shaded, covered patio. Step inside to discover a space designed for both entertaining and relaxation. The home boasts stunning hardwood floors, a gourmet kitchen with granite countertops, crown molding, and plantation shutters. The luxurious master suite and open-concept living areas create an inviting atmosphere. A stand out feature is the spacious casita, perfect for guests who will delight in the soothing sounds of the large water fountain in the private courtyard. The main house includes two bedrooms, an office, and a versatile bonus room with French doors, currently used as a music room. There's ample space for hosting family and friends. Outside, your backyard oasis awaits. Watch golfers tee off, take in the breathtaking views, and cool off in the sparkling pool while enjoying the soothing sounds of the pool waterfall. The east-facing orientation ensures your outdoor space remains comfortably shaded throughout the day, perfect for enjoying the patio fireplace in the evening. Living in Anthem Country Club offers an unparalleled lifestyle. The secure gated community features two championship golf courses, two stunning clubhouses with restaurants and bars, multiple pools, spas, fitness facilities, tennis and pickleball courts, bocce ball, and a vibrant calendar of events. This is more than a home; it's a haven of luxury and leisure. Embrace the best of Anthem Country Club living - a truly amazing experience awaits.

3305 N 162nd Drive Goodyear, AZ 85395

$849,500
3 Beds
3 Baths
2,405 SqFt
Status Active
MLS # 6769757
Property Type Single Family Residence
Price Type --
Incomparable Views! Overlooking Two Fairways, Lake and Mountains, Magnificent Sunsets. This Single Owner Home with Casita and Owned Solar is Located on 1st Fairway of East Course and Just Steps to the Tuscany Falls' World-Class Amenities. Enter through the Gated Private Courtyard to Home and Casita. Main Entry Opens to Great Room with Living, Dining, Kitchen and Flex Area. Double Glass Slider and Expansive Windows Frame Unblocked Views. Step Out to Extensive Brick Paver Patio with Built-in Grill Area and Easy Care Landscaping Perfect for Outdoor Entertaining. Center Patio Column has been Removed, Creating Dramatic Vista for Stunning Arizona Sunsets. Elegant Hardwood Floors lead into Large Primary Suite with Panoramic Views & Full Bath. Spacious Casita includes Bar Area and Full Bath Incomparable Views! Overlooking Two Fairways, Lake and Mountains, Magnificent Sunsets. This Single Owner Home with Casita and Owned Solar is Located on 1st Fairway of East Course and Just Steps to the Tuscany Falls' World-Class Amenities. Enter through the Gated Private Courtyard to Home and Casita. Main Entry Opens to Great Room with Living, Dining, Kitchen and Flex Area. Double Glass Slider and Expansive Windows Frame Unblocked Views. Step Out to Extensive Brick Paver Patio with Built-in Grill Area and Easy Care Landscaping Perfect for Outdoor Entertaining. Center Patio Column has been Removed, Creating Dramatic Vista for Stunning Arizona Sunsets. Elegant Hardwood Floors lead into Large Primary Suite with Panoramic Views & Full Bath. Spacious Casita includes.... Bar Area and Full Bath -- Perfect for Hosting Guests or Use as a Home Office. Fully Owned Solar Provides Lower Utility Costs. Garage has Custom Flooring to Protect and Showcase Cars and Toys Plus Storage Cabinets and Sink. Enjoy Arizona Lifestyle at its Best with Outstanding PebbleCreek Amenities, including 3 Golf Courses, Pro Shops, Putting Greens and Driving ranges, Pools, Fitness Center, Theatre, Arts & Crafts Center, and Restaurant. Don't Miss this Rare Opportunity to Own a Piece of Paradise!

3353 E Blue Ridge Way Gilbert, AZ 85298

$849,500
5 Beds
4 Baths
4,120 SqFt
Status Active
MLS # 6768347
Property Type Single Family Residence
Price Type --
This stunning 5 bedroom, 4 bath home combines modern elegance with family friendly functionality. The exterior features a charming facade with well-manicured landscaping, spacious driveway and front patio off kitchen. The bright, open floorplan seamlessly connects the living room and dining room, perfect for entertaining. The newly remodeled kitchen boasts stainless steel appliances, sleek cabinetry and island - making it a chef's dream! An inviting bonus room provides versatility, ideal for a home office, home theater, playroom or teen room. The newly remodeled primary suite exudes a serene, spa-like ambiance. Soft, neutral tones dominate the space, with decorative porcelain tiles. A freestanding soaking tub, elegantly positioned beneath glass block window invites relaxation when surrounded by candles. The spacious walk-in shower features sleek glass doors, built-in shelves for toiletries. Custom double vanities with quartz countertops and modern sinks with illuminating lighting. Unique double walk-in closets. Family room w/built-in media center, wood floor, pre-wired for surround sound & French door. Formal Dining room w/wood floors. Formal Living room w/wood shutters. Downstairs bedroom w/walk-in closet w/full bathroom is currently used as laundry room. Outside, the private backyard is a true oasis, highlighted by the sparkling pool surrounded by cool decking and lush grass yard. Solar panels enhance energy efficiency, ensuring comfort and sustainability. This home is perfect for the family seeking a blend of luxury and practicality!

8705 E Monterosa Avenue Scottsdale, AZ 85251

$849,500
3 Beds
2 Baths
2,056 SqFt
Status Active
MLS # 6746737
Property Type Single Family Residence
Price Type --
* One of a kind remodel in the heart of Scottsdale * Solid white oak flooring * Open kitchen with huge island * Custom Scottsdale Cabinets in kitchen and bathrooms * Professional series appliances featuring a double refrigerator/freezer, wall oven/microwave and flat cooktop with pot filler * Smooth textured walls throughout * Amazing bathrooms with walk in showers and soaking tub * All new faucets, sinks, mirrors and lighting * Ceiling fans and can lights throughout * New baseboards, doors and windows * New 5 ton Trane A/C unit * Across the street from pool and clubhouse * Great HOA * Remodel costs north of $240k *

6719 N 15th Avenue Phoenix, AZ 85015

$849,400
4 Beds
2 Baths
2,494 SqFt
Status Active
MLS # 6729425
Property Type Single Family Residence
Price Type --
Prepare to be dazzled! This meticulously home sits on a 1/4 acre lot, offering a private oasis perfect for indoor and outdoor living. High ceilings and a spacious living and dining area, adorned with wood floors. The gourmet kitchen features granite counter-tops, a back-splash, breakfast bar, a gas cook-top, and ample cabinetry. Open floor plan flows into the family room. Relax by the fireplace, a perfect focal point for cozy gatherings. The master bedroom provides a sanctuary for relaxation. Private access to the backyard oasis and a luxurious walk-in closet boasting custom built-in shelves. The bathroom suite features double sinks, granite counter-tops, a deep soaking tub, and a walk-in shower. The additional bedrooms provide comfortable living space for family or guests. The outside is Prepare to be dazzled! This meticulously home sits on a 1/4 acre lot, offering a private oasis perfect for indoor and outdoor living. High ceilings and a spacious living and dining area, adorned with wood floors. The gourmet kitchen features granite counter-tops, a back-splash, breakfast bar, a gas cook-top, and ample cabinetry. Open floor plan flows into the family room. Relax by the fireplace, a perfect focal point for cozy gatherings. The master bedroom provides a sanctuary for relaxation. Private access to the backyard oasis and a luxurious walk-in closet boasting custom built-in shelves. The bathroom suite features double sinks, granite counter-tops, a deep soaking tub, and a walk-in shower. The additional bedrooms provide comfortable living space for family or guests. The outside is a private paradise with a sparkling pool with cascading water features. Custom pavers create a stylish patio area, and meticulously maintained shrubs ensure complete privacy. Expansive play area with synthetic turf - perfect for all-weather enjoyment. This exceptional property offers the ultimate blend of luxury, functionality, and outdoor living - all in a highly desirable location. Don't miss this opportunity to create lasting memories in your dream home!

5100 S Hudson Place Chandler, AZ 85249

$849,104 - 3Br/3Ba -  for Sale in Treeland, Chandler
Open House
$849,104
3 Beds
2.5 Baths
2,427 SqFt
Status Active
MLS # 6743675
Property Type Single Family Residence
Price Type --
Lovely new single-story, designer accented home in the gated Treeland community. Currently under construction, this home is due to complete by the end of October 2024. The home offers a spacious floor plan featuring 3 bedrooms, 2.5 bathrooms, a den, and attached 3-car garage. The kitchen features stainless steel built-in appliances including a 30'' gas cooktop and quartz countertops with a waterfall edge island. Other highlights include a 12' multi-slider at the dining room, Bryant maple buckskin cabinets, glass French doors at the den, upgraded 8'' x 36'' tile plank flooring, and a separate tub and shower at the primary bath. The laundry room is pre plumbed for a sink and there are pavers at the driveway and front porch.

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