#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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16033 E Ponderosa Drive Fountain Hills, AZ 85268

$849,000
2 Beds
3.5 Baths
2,720 SqFt
Status Active
MLS # 6747344
Property Type Single Family Residence
Price Type --
Awesome Fountain Hills Home For Sale or Trade! *Have a Home to Sell? Buy This Home, We'll Buy Yours!* Ask for more information. This home comes with a free home warranty and a Buyer's Satisfaction Guarantee. RARE Single Level and Meticulously Maintained Entertainer's Home on elevated, oversized lot. READY FOR A POOL with an outdoor bathroom already done! Room for a Pool House or Casita. NO HOA! Large kitchen with full dining space and a BUTLER's KITCHEN! This is a must see! *custom drapes do not convey.

1501 N Miller Road Unit 1002 Scottsdale, AZ 85257

$849,000 - 3Br/3Ba -  for Sale in Vistas Of Scottsdale, Scottsdale
Open House
$849,000
3 Beds
2.5 Baths
2,080 SqFt
Status Active
MLS # 6780955
Property Type Townhouse
Price Type --
NEW HOMES FINISHING NOW! The Magic of Vistas of Scottsdale. A boutique Enclave of only 16 private, luxury homes in the Heart of Scottsdale - Location is Everything. Open spaces, clean lines & abundant glass create a design experience to merge the indoors and outdoors. Vistas of Scottsdale are curated with a discerning eye using warm, organic tones and natural textures focusing on the personal nature of the home as a retreat. Sweeping Mountain Vistas are captured from the 580sf roof terrace and unique floating overlook to rival a hotel/restaurant environment. The 30ft wide main living area provides unparalleled openness and light. The builder's vision from the inception was to focus on incorporating premium materials to create an innovative Scottsdale lifestyle.

1501 N Miller Road Unit 1009 Scottsdale, AZ 85257

$849,000 - 3Br/3Ba -  for Sale in Vistas Of Scottsdale, Scottsdale
Open House
$849,000
3 Beds
2.5 Baths
2,080 SqFt
Status Active
MLS # 6749430
Property Type Townhouse
Price Type --
NEW HOMES DELIVERING NOW. Primely located END UNIT with incredible roof deck views. Vistas is a boutique Enclave of only 16 private, luxury homes in the Heart of Scottsdale. Open spaces, clean lines & abundant glass create a design experience to merge the indoors and outdoors. Vistas of Scottsdale are curated with a discerning eye using warm, organic tones and natural textures focusing on the personal nature of the home as a retreat. Sweeping Mountain Vistas are captured from the 580sf roof terrace and unique floating overlook to rival a hotel/restaurant environment. The 30ft wide main living area provides unparalleled openness and light. The builder's vision from the inception was to focus on incorporating premium materials to create an innovative Scottsdale lifestyle.

312 E Windsor Avenue Unit 1 Phoenix, AZ 85004

$849,000
3 Beds
3 Baths
2,400 SqFt
Status Active
MLS # 6672428
Property Type Townhouse
Price Type --
Our eyes are made to see forms in light: light and shade reveal these forms. Rising like the sun over Midtown Phoenix is Soleil. Inspired by Original Modernism; built for connoisseurs of live, work, play. There's a renaissance going on in PHX and you can be close to it all. Uber or light rail yourself to 3 rd Street Promenade and into secluded hidey holes! And when you need to unwind? You're 15 minutes away from exciting, desert hiking trails. It's here you'll witness sun-setting colors pour and splash themselves all over the Sonoran Desert.

4245 E Desert Forest Trail Cave Creek, AZ 85331

$849,000
5 Beds
3 Baths
3,031 SqFt
Status Active
MLS # 6725322
Property Type Single Family Residence
Price Type --
Welcome to the highly sought-after Dove Valley Ranch community! This stunning two-story residence boasts 5 spacious bedrooms, offering ample space for your family and guests. The primary bedroom, located on the upper level, features two walk-in closets and a private balcony patio with a picturesque view of the backyard and pool. Step inside to find newly painted interiors in neutral colors, complemented by elegant hardwood floors that create a warm and inviting atmosphere. The upper level includes a cozy living area, ideal for family gatherings or a quiet retreat, and an office nook off one of the bedrooms, perfect for remote work or study. The outdoor space, featuring a covered patio, a large backyard with a refreshing pool, and a golf putting turf for your enjoyment. The yard backs up to a serene nature trail, providing a peaceful and scenic backdrop. Additional highlights include a spacious three-car garage, ensuring plenty of storage and parking. This beautiful home in Dove Valley Ranch offers the perfect blend of luxury, comfort, and convenience. Don't miss the opportunity to make it yours!

8219 E Sells Drive Scottsdale, AZ 85251

$849,000
3 Beds
2 Baths
2,213 SqFt
Status Active
MLS # 6744515
Property Type Single Family Residence
Price Type --
Experience the perfect blend of modern luxury and homey comfort in this beautifully remodeled residence, free from HOA restrictions. This home has been thoroughly updated, featuring new plumbing, electrical systems, roof, and an upgraded sewer line. Inside, you'll find 3 spacious bedrooms and 2 stylish bathrooms. The oversized master suite includes a generous walk-in closet, a luxurious soaking tub, and a separate shower. The heart of the home is the stunning kitchen, featuring a large island, stainless steel appliances, pristine quartz countertops, and sleek shaker cabinets. The family room is enhanced by a cozy gas fireplace, adding warmth and charm. Additional highlights include an epoxy-finished garage floor for easy maintenance and durability. Ideally situated within walking distance of Old Town, Chaparral Park, and a variety of shopping destinations. Enjoy modern elegance in a prime location with this exceptional property.

29317 N Horton Creek Trail Rio Verde, AZ 85263

$849,000
2 Beds
2 Baths
1,542 SqFt
Status Active
MLS # 6751491
Property Type Townhouse
Price Type --
Welcome to your dream retreat in the heart of the exclusive gated golf course community of Trilogy at Verde River! This stunning single-story home boasts a private split 2 bedrooms, 2 bathrooms floor plan which includes a versatile office space with built-in cabinets at your disposal. Perfectly positioned on a premium golf course lot, this home offers 180 degree exquisite mountain and golf course views day or night with an expansive covered patio perfectly positioned to take it all in while relaxing by the gas firepit. Step inside to discover a thoughtfully designed layout that blends comfort and elegance. Bathed in ample natural light and offering sleek tile flooring throughout, the spacious living areas flow seamlessly connecting the living and dining areas, truly making this kitchen... Welcome to your dream retreat in the heart of the exclusive gated golf course community of Trilogy at Verde River! This stunning single-story home boasts a private split 2 bedrooms, 2 bathrooms floor plan which includes a versatile office space with built-in cabinets at your disposal. Perfectly positioned on a premium golf course lot, this home offers 180 degree exquisite mountain and golf course views day or night with an expansive covered patio perfectly positioned to take it all in while relaxing by the gas firepit. Step inside to discover a thoughtfully designed layout that blends comfort and elegance. Bathed in ample natural light and offering sleek tile flooring throughout, the spacious living areas flow seamlessly connecting the living and dining areas, truly making this kitchen the heart of the home! The kitchen is the epitome of modern style meets functionality featuring quartz countertops and a large island, perfect for meal prep, casual dining, and entertaining guests. Complete with soft-close shaker cabinets adorned with designer finishes providing both style and convenience offering a perfect blend of form and function for everyday living and hosting. The primary suite is the perfect sanctuary offering breathtaking views as well as luxurious amenities including a spa-like primary bath featuring a large shower, double sinks and walk-in closet! Even your car will get pampered in the two car garage featuring epoxy flooring! Outside, immerse yourself in the vibrant community life, where you'll find endless opportunities for recreation and leisure. Enjoy the resort-style amenities where you can enjoy the clubhouse and its many community events, relax poolside with eats and treats at the poolside restaurant, Eddy's Poolside, stay fit in the lap pool or relax in the outdoor whirlpool. After you work on perfecting your serve on the tennis or pickleball courts or engage in a friendly competition of bocce ball or cornhole you can enjoy a savory dinner at communities exclusive restaurant Needle Rock Kitchen and Tap. Need some down time and pampering, relax at the amazing Alvea Spa where the menu of services will not disappoint! This community also offers a Social Club with enriching social experiences and exclusive access to a culinary studio, art studio, fitness center, and member-only social areas. With a packed calendar of events, there's always something exciting to enjoy. Experience the perfect blend of luxury, leisure, and lifestyle in this exceptional home. Don't miss your chance to live in this coveted community, where every day feels like a vacation!

3713 E Kimball Road Gilbert, AZ 85297

$849,000
5 Beds
3 Baths
3,892 SqFt
Status Active
MLS # 6759973
Property Type Single Family Residence
Price Type --
Gorgeous updated 5 bedroom home with PRIVATE tropical backyard oasis. Pebble tec pool with rock waterfall and putting green, covered gazebo included. Gourmet kitchen with large center island and breakfast bar. Custom stone media center and shelving in family room with gas fireplace. Surround sound in family room and loft area. Granite countertops throughout, updated light fixtures. Master bathroom remodeled with large walk-in shower, newer carpet throughout home. Oversized 3 car garage with separate storage or workbench area. South facing backyard. Great neighborhood on quite street. Walking distance to the Gilbert Regional Park.

266 W Uphill Drive Christopher Creek, AZ 85541

$849,000
2 Beds
2 Baths
2,139 SqFt
Status Active
MLS # 6765041
Property Type Single Family Residence
Price Type --
Spectacular Architectural Showpiece that captures the most Magnificent Mountain / Rim Views and surrounding lush forest beauty in the popular Mountain / River Community of Christopher Creek. This rare, newer- build home towers far above the other older homes in this Enchanting Community. It is nestled on a BIG, nearly ½ acre lot and the design offers unbelievable views from every level. The upper levels have enthralled many visitors who have taken advantage of the consistent Air BnB opportunities that are in HIGH DEMAND! The downstairs living area can be locked and separated from the upper living space to accommodate friends and family without touching the upstairs preparedness for future short-term visitors. The multiple covered and uncovered Trex-type decks provide a feeling of privacy and serenity that transforms the hectic urban lifestyle into a veritable sanctuary of escape and tranquility. The awesome design, orientation, and many large windows seamlessly integrates the outdoor beauty into the living space with a feeling of privacy like few others in Christopher Creek. Other features include a modern upgraded interior including Viking appliances, granite counter tops, vinyl plank flooring, custom metal railings, Central Air, Central Vac, a high vaulted ship-lap wood ceiling that was sourced and cut locally. There is plenty of parking space and a hookup for an electric vehicle. Escape to your Country Dream Home and enjoy the fresh air, cool breezes, nearby mountain streams, hiking trails and six picturesque Rim Lakes. BONUS!! This home is TURN-KEY and comes COMPLETELY FURNISHED!! (except for a few personal items that are locked away) Don't miss this FANTASTIC OPPORTUNITY!

5540 W Lone Cactus Drive Glendale, AZ 85308

$849,000
4 Beds
3 Baths
2,747 SqFt
Status Active
MLS # 6765788
Property Type Single Family Residence
Price Type --
Amazing 4 bedroom, 3 bathroom spacious lakeside home in Glendale with private pool. You won't be disappointed with this living space with a large open family room, formal dining area with backyard views, and separate living room with built-in fireplace. Beautiful chefs kitchen features granite countertops, tile backsplash, stunning lake views, separate dining area, large island, separate pantry and all appliances. One full bedroom and full bathroom are located on the first floor. The remaining bedrooms, including the primary suite, are located on the second floor. Primary suite has stunning Lake views and private balcony, plantation shutters, vaulted ceilings, huge bathroom with three separate closets, double sink, vanity, garden tub, and step-in shower. The views of the backyard and lake are absolutely stunning from this bedroom. Washing machine and dryer are included. Three car garage includes built-in storage cabinets for plenty of parking and storage. Absolutely stunning backyard will not disappoint. Easy to maintain desert landscaping with a beautiful sparkling pool, lake views and private back deck. It doesn't get any better than this.

22518 W Meade Lane Buckeye, AZ 85326

$849,000
4 Beds
3 Baths
2,832 SqFt
Status Active
MLS # 6772980
Property Type Single Family Residence
Price Type --
Just in time for the Holidays!! Discover the stunning new property coming soon to Rancho Sunora! This 2,832 living sq. ft. home combines modern design with traditional charm, offering 4 spacious bedrooms, 3 luxurious bathrooms, and a versatile den. The serene master suite features elegant double showers. Enjoy 4,422 sq. ft. under roof on a 1-acre lot. With extra-large patios for entertaining, horse privileges, and city water access, your lifestyle is elevated—no HOA! Quality construction includes a tiled roof, full spray foam insulation, luxurious design elements with dual-tone cabinets and stylish dual-tone paint inside and out. Live the lifestyle you deserve in Sunora Ranch, where exclusivity meets community spirit. Don't miss the opportunity to make this dream home your reality.

2374 W Weatherby Way Chandler, AZ 85286

$849,000 - 4Br/3Ba -  for Sale in Brittany Heights, Chandler
New
$849,000
4 Beds
2.5 Baths
2,954 SqFt
Status Active
MLS # 6780325
Property Type Single Family Residence
Price Type --
Now is your opportunity to own this impeccably maintained property that has been lovingly cared for by the original owners. Located in the desirable Brittany Heights community and perfectly situated on a 10,000 square foot lot with a north facing backyard! A single level home featuring a split floor plan with 4 bedrooms and 2.5 baths. As you enter, you'll be greeted by a bright and airy formal living room, which flows seamlessly into the formal dining room — perfect for hosting dinners or gatherings. The open-concept layout enhances the sense of space, with large windows allowing plenty of natural light to flood the interior. The kitchen is a true highlight, having been fully updated with modern finishes, stainless steel appliances, and ample counter space. Crisp white custom cabinets with pullout shelving, paired perfectly with granite counters and stone backsplash. The sleek hardware and updated lighting pull it all together. A dedicated pantry along with the GAS range will appeal to all the chefs out there! The eat-in kitchen opens to the great room making it ideal for entertaining or comfortable daily living. Another standout feature is the custom gas fireplace, which serves as both a functional centerpiece and a stunning design element. The primary bedroom offers a peaceful space after a long day. The primary bath is a true spa-like retreat, designed to offer a luxurious and serene experience. As you step inside, you're immediately enveloped by a calming atmosphere, where you will find high-end finishes, and thoughtful design elements to include this spectacular walk-in shower and custom designed closet. The home offers 3 additional bedrooms along with a full bathroom and powder room! Even the laundry room is a stand out! You will find an abundance of cabinetry and a nice counter space for folding. The 3-car garage offers a 4 foot extension! On the weekends you will spend your time in your private backyard relaxing under the covered patio or floating in your fenced heated pool. The hot tub provides the ultimate place to relax and recharge. The desert landscaping has been thoughtfully designed to complement the natural beauty of the Arizona desert to include artificial turf! But wait.. there is more! Both HVAC units (with 2-stage straight cool condenser) were replaced in 2019. You will also find notable upgrades such as planation shutters, hand-scraped wood flooring, upgraded baseboards and crown molding... the list goes on and on! Brittany Heights is a community in the heart of Chandler close to shopping, dining, and easy freeway access. Top ranked Chandler Schools and Hamilton High School are an added bonus! Homes of this caliber are not found often.. come see for yourself!

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