#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

42920 N Highway 60 -- Morristown, AZ 85342

$845,000

3 Beds

2 Baths

1,967 SqFt

Status Active

MLS # 6745454

Property Type Single Family Residence

Price Type --

VIEWS, VIEWS, VIEWS! This newly constructed 3-bedroom, 2-bathroom home offers captivating mountain views and a charming front porch, ideal for having your morning quite time. As you enter through the double doors, you'll be greeted by a spacious, open floor plan and an elegant wood-looking flooring that perfectly flows throughout. The galley kitchen is a culinary delight, featuring plenty of counter space accompanied by a stylish tile backsplash, and stainless steel appliances. The primary suite has plenty of space with a pristine ensuite, dual sinks, a glass-enclosed shower, and a generous walk-in closet. Unwind on the covered patio, where you can relax and take in the stunning panoramic views and endless blue skies. This home is an absolute must-see and is sure to exceed your expectations!

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1803 N Harper -- Mesa, AZ 85207

$845,000

3 Beds

2.5 Baths

2,372 SqFt

Status Active

MLS # 6750678

Property Type Single Family Residence

Price Type --

This gorgeous home is located in Canyon Preserve at Moutain Bridge. The premium lot, with no direct neighbor to the back and Tanto National Park mountain views, offers privacy and a peaceful setting. Top-of-the-line curb appeal with a paver driveway and walkways, as well as desert landscaping and artificial turf. A three-car tandem garage with industrial-grade epoxy flooring and garage cabinets provides plenty of space for vehicles and storage. It is climate-controlled with backyard access. Enter the arched wrought iron security gate entrance to the private front patio. The home has new Luxury Vinyl Plank flooring, plantation shutters and two tones of interior paint. The kitchen is an entertainer's dream, with stainless steel appliances, a gas range, white maple cabinets with Nantucket doors, granite countertops, and an island. The great room has an additional 300 square feet with a 20' wall of glass with a drop-down screen leading to the backyard, a private pool that is heated and cooled, and a cool deck patio. The primary bedroom is split with an ensuite bathroom with dual sinks, vanity, large walk-in shower and oversized closet. So many more upgrades are included on the additional upgrade list.

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3067 E Canyon Creek Drive Gilbert, AZ 85295

$845,000

5 Beds

3.5 Baths

3,914 SqFt

Status Active

MLS # 6777025

Property Type Single Family Residence

Price Type --

Welcome to this stunning 5-bedroom, 3.5-bath home, featuring an inviting open floor plan and an incredible backyard oasis with a sparkling pool! Perfect for entertaining and family gatherings, the spacious living areas seamlessly connect to the outdoor space, creating an ideal flow for hosting. The gourmet kitchen boasts modern appliances, ample counter space, and a large island, perfect for casual dining. The luxurious master suite offers a serene retreat with an en-suite bath, complete with dual vanities, a soaking tub, and a separate shower. Four additional bedrooms provide ample space for family and guests, while the extra two rooms can be customized as a home office, gym, or playroom. Step outside to your private paradise, where you can enjoy sunny days lounging by the pool or hosting summer barbecues in the beautifully landscaped backyard. The outdoor living area is perfect for relaxation or entertaining, featuring a covered patio and plenty of space for outdoor dining and seating. This home also includes a solar system that is owned and paid off, ensuring energy efficiency and long-term savings. Additional features include a 3-car garage, plenty of storage space, and a location that provides both privacy and convenience, with easy access to local amenities, schools, and parks. Don't miss out on the opportunity to make this dream home yours!

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2568 E Aloe Place Chandler, AZ 85286

$845,000

4 Beds

2.5 Baths

2,583 SqFt

Status Active

MLS # 6771536

Property Type Single Family Residence

Price Type --

Gorgeous Single-level 4 Bed/3 Bath + Office with Pool and Jacuzzi in a highly desirable part of Chandler! This well-built Maracay Home features an open concept with split floor plan and plenty of room for entertaining, 10ft ceilings & 8ft doors. Right when you pull up, you will notice the beautiful curb appeal with low maintenance yard & extended driveway. Walk in the front door to a view of the pool through the large slider door. The kitchen has a large island for serving and sitting, 42'cabinets, backsplash, gas cooktop, and dining nook. The Master Suite is spacious and has a beautiful bathroom with dual sinks & large walk-in-closet. The office is in a quiet secluded area of the house. The resort-style backyard showcases a pool, spa, fire pit & outdoor kitchen with North facing patio!

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2419 E Tomahawk Drive Gilbert, AZ 85298

Open House

$845,000

6 Beds

4 Baths

3,831 SqFt

Status Active

MLS # 6750097

Property Type Single Family Residence

Price Type --

Discover luxury living in this stunning 2-story home in Gilbert's sought-after Adora Trails community. This elegant residence features a spacious living area with a cozy fireplace, a gourmet kitchen with stainless steel appliances, quartz countertops, and custom cabinetry. The luxurious downstairs guest suite offers privacy and comfort. Enjoy your private backyard oasis with a sparkling pool and ample space for entertaining. Additional highlights include a three-car garage and meticulous landscaping. Located near parks, trails, shopping, and dining. Schedule your private showing today to explore all that this exceptional residence has to offer and discover the luxury lifestyle awaiting you in Adora Trails.

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17829 E Cindercone Road Rio Verde, AZ 85263

$844,999

3 Beds

2 Baths

1,752 SqFt

Status Active

MLS # 6695609

Property Type Single Family Residence

Price Type --

Welcome Home to Trilogy at Verde River. This community is like a cruise ship that doesn't leave port. There are so many social activities associated with The Trilogy Lifestyle! This Acacia Model Floor Plan is Located on the North Side of Trilogy at Verde River Nestled Beside an NAOS Area Protecting the Views Directly Behind the Home. This Open Kitchen to Great Room Concept is Best Known for Bringing the Outdoor Living Inside with the Large Sliding Glass Doors. Covered Patio, Fire Pit, and Easy-to-Maintain Backyard Complete Make this a Perfect Lock & Leave Option. Trilogy at Verde River Boast a Large Clubhouse with both Bar & Dining Options. The Resort Style Pool & Spa are Accompanied by Eddie's Poolside Bar & Grill. Alvea Spa has All Your Health & Rejuvenation Needs. Come Experience TVR!

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1952 W Bramble Berry Lane Phoenix, AZ 85085

Open House

$844,990

5 Beds

4.5 Baths

3,018 SqFt

Status Active

MLS # 6731409

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. Explore the Prato two-story floorplan, ready by Sept/Oct, featuring an owner's suite and an additional suite on the first floor. The chef's kitchen includes a gas cooktop, hood, and quartz countertops, with upgraded tile and carpet throughout. A center slider in the gathering room enhances indoor-outdoor living. An added bathroom upstairs creates another suite. The home also includes a full electrical package, a landscaped front yard, and stylish interiors.

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36627 N 18th Drive Phoenix, AZ 85086

$844,900

3 Beds

2 Baths

2,246 SqFt

Status Active

MLS # 6759814

Property Type Single Family Residence

Price Type --

Experience the essence of Southwest charm on this 1-ac Desert Hills property! This beautifully rebuilt 3-bdrm home, completed in 2022, boasts all the right finishing touches, meticulously chosen to create the feel of a brand-new custom home but with yard improvements including a pool & turf. Step into an expansive open concept living space that flows into a gourmet kitchen, featuring custom cabinetry, stainless-steel appliances, and a large island with granite counter tops. The primary suite includes a spacious walk-in closet and a private exit to the backyard oasis. Outside, you'll find a tranquil retreat with a covered patio in site of mountain vistas! Enjoy the easy-care turf lawn, fully fenced pool and a yard with ample room for additional improvements! Private well. create a perfect backdrop for both relaxation and entertainment. After a refreshing swim, unwind in the nearby sauna, or enjoy quiet moments under the charming gazebo. The fully block-fenced backyard ensures privacy and serenity for all your outdoor gatherings. Perfectly located near an array of shopping, dining, and recreational amenities, this home offers the ideal blend of natural beauty and modern conveniencetruly the best of Southwest living.

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9558 W Gambit Trail Peoria, AZ 85383

$844,750

5 Beds

3.5 Baths

4,566 SqFt

Status Active

MLS # 6727638

Property Type Single Family Residence

Price Type --

Don't miss your chance to make this serene neighborhood of Pleasant Valley home! This stunning five-bedroom, three-and-a-half-bath residence features a spacious four-car garage and an RV gate, offering ample space for everyone. The formal dining and living areas, complete with a cozy fireplace and wet bar, make entertaining a breeze. The roomy kitchen, adorned with granite counters and extra storage, transforms meal prep into a delightful experience. Unwind in your spa-like tub with a charming fireplace, creating a perfect retreat for relaxing evenings. The expansive loft area is versatile, ideal for a hobby space, home office, workout room, or family theater. The large covered patio is perfect for enjoying summer days and nights, while the generous backyard, complete with a pool, custom fireplace, and fire pit, is ideal for creating cherished memories. This prime location offers easy freeway access and is close to shopping, restaurants, Lake Pleasant and Paloma Community Park. Paloma Community Park is home to a catch and release lake, water park and various sport courts that will provide something for everyone. Seize this opportunity to live in Pleasant Valley! One AC unit replaced in April 2024.

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26158 N 96th Drive Peoria, AZ 85383

$844,000

4 Beds

3 Baths

2,354 SqFt

Status Active

MLS # 6725121

Property Type Single Family Residence

Price Type --

One of only 72 homes in this stunning gated community. Enjoy your NEW, beautiful home in Querencia! This single-level home with 4 bedrooms and 2.5 bathrooms boasts an entertainment-ready backyard. Featuring a great room and split floor plan, an expanded garage, and a cul-de-sac corner lot location, this home truly has it all. Don't miss the opportunity to make this your dream residence! Walk to Great Hearts and BASIS Peoria super close.

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5825 N 107th Lane Phoenix, AZ 85037

$844,000

3 Beds

2.5 Baths

2,524 SqFt

Status Active

MLS # 6781894

Property Type Single Family Residence

Price Type --

This gorgeous home strikes a perfect balance of charm and modern elegance! Starting with a 4-car/RV garage, RV gate, & stone accents. Spacious open-concept floor plan boasts wood-look tile flooring & bountiful natural light promoting a homely ambiance. Chef's kitchen gleams w/stainless steel appliances, recessed lighting, a walk-in pantry, white cabinets w/crown molding, sleek quartz counters, tile backsplash, & a prep island w/a breakfast bar. Large main retreat is a true sanctuary that promises rest & relaxation! Plush carpet & an ensuite offering dual sinks, quartz vanity, a glass-enclosed shower, & a walk-in closet complete the picture! Versatile den w/French doors is ideal for work/play. Escape the hustle & bustle in the HUGE backyard w/a relaxing covered patio & artificial turf.

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7272 E Gainey Ranch Road Unit 110 Scottsdale, AZ 85258

$843,000

2 Beds

2 Baths

1,544 SqFt

Status Active

MLS # 6779795

Property Type Townhouse

Price Type --

Discover the perfect blend of comfort and style in this inviting 2-bedroom, 2-bathroom condo, located within the prestigious gated community of Gainey Ranch. This immaculate single-level residence boasts beautiful wood floors, plantation shutters and features Maytag appliances, ensuring both elegance and functionality. Enjoy the luxury of a direct entry 2-car garage. The versatile layout includes a dining area or office space, as well as an eat-in kitchen ideal for casual meals and gatherings. Step outside to your private covered patio, where a calming water feature adds tranquility to your outdoor experience. The Pavilions community has a sparkling pool and relaxing spa. The master Gainey Ranch community includes tennis & pickleball courts, extensive gym, 25 meter pool & clubhouse.

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