#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

1156 W Mclaws Avenue Snowflake, AZ 85937

$839,000

5 Beds

3 Baths

4,651 SqFt

Status Active

MLS # 6704225

Property Type Single Family Residence

Price Type --

Stunning Home with Panoramic Views in Centennial Country Acres Experience the tranquility of open spaces and unobstructed views with this magnificent 5-bedroom, 3-bathroom residence set on a sprawling 2+ acres in the highly desirable Centennial Country Acres. Every inch of this home radiates a warm, welcoming ambiance. Stepping into the foyer, you are greeted by the elegance of a formal parlor, setting the tone for the rest of this impressive home. The heart of the house is in the expansive open floor plan, where the living, dining, and kitchen areas flow seamlessly together, adorned with yards of luxurious granite counters and rich solid wood cabinets—it's a chef's dream realized. Retire to generously-sized Click ''More''... Retire to generously-sized bedrooms, each designed with comfort in mind, while the separate guest suite offers privacy and a plush retreat for visitors. The vast walk-out basement unfolds as the ultimate playground for family fun and games inside and out, offering endless possibilities for entertainment and relaxation. Outside, the property doesn't disappoint with its spectacular, panorama that invites you to soak in the beauty of every Arizona sunset and Temple Views from you open back deck. The attached 2-car garage provides convenience while the 2-car detached garage/shop/barn is ready for your projects and storage needs. Useful and enjoyable landscaping boasts 13 fruit trees of various varieties, a garden, grape vines, deep covered bbq pit, fire ring...too many features to list. Designed and built with love by its only owner, this home isn't just a statement of quality and style, it's a canvas for your life's memories. Schedule a viewing and prepare to be captivated by the serene country living that awaits in Centennial Country Acres.

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2218 E Sunnyside Drive Phoenix, AZ 85028

$839,000

5 Beds

4 Baths

3,263 SqFt

Status Active

MLS # 6710783

Property Type Single Family Residence

Price Type --

This spacious home is located in the desirable Northeast Valley of Phoenix with mountain views throughout!** This unique and large 3,263 sq. ft. home features a 9,926 sq ft lot, full in-law suite/apartment and sparkling pool. **The main house is 4 bedrooms, 3 bathrooms. The upstairs master bedroom is private and has its own deck with amazing mountain views!**The attached in-law suite is perfect for extra income or multigenerational living with 700 sq ft, full bedroom, bathroom, kitchen and family room.** The home also has plantation shutters, newer AC for the in-law suite. The backyard is ready for entertainment with a pool with diving board and is already fenced for safety. ** Great curb appeal and low maintenance front yard. ** Very centrally located in Northeast Valley close to the 51 freeway for easy access to any location in the Valley. Located just down the street from the entrance to popular mountain trails. **Best priced home for the square footage in the area!**

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15802 N 71st Street Unit 307 Scottsdale, AZ 85254

$839,000

2 Beds

2 Baths

1,445 SqFt

Status Active

MLS # 6720703

Property Type Apartment

Price Type --

GOLF COURSE VIEWS in every room in this 2 bedroom/2 bath condo that looks out onto the lush green Westin Kierland Golf Course! Plus this unit comes FULLY FURNISHED! Generous walk in closets in both bedrooms and the master bath offers a walk in shower and separate soaking tub so you can truly relax in your resort style vacation home! The kitchen has gas range and opens up into the living/dining space - all overlooking those rare golf course views! Sit back and enjoy a glass of wine on your spacious balcony watching the sun set. Unit is located just across the street from Kierland shopping center and Scottsdale Quarters, and also offers concierge 6 days a week, 2 fitness centers, a private wine cellar, heated pool, all behind a guarded gate entry. Unit comes with 1 covered parking spot.

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2704 W Languid Lane Phoenix, AZ 85086

$839,000

4 Beds

3 Baths

2,979 SqFt

Status Active

MLS # 6747242

Property Type Single Family Residence

Price Type --

Quintessential Arizona living awaits in this stunning semi-custom home with **breathtaking mountain and desert views!** Nestled on one of Tramonto's premier view streets, this spacious residence offers a private courtyard perfect for your morning coffee. Inside, high ceilings and tile floors create an airy ambiance, while upgraded bathrooms and custom paint add elegance. New water heater and water softener. Kitchen is complete with SS appliances, pantry and stone countertops. Spacious family room with fireplace and built in shelving. The backyard is a desert paradise with travertine, a cozy fireplace, and an elevated mountain view area, ideal for taking in Arizona's iconic sunsets over the Valley of the Sun. This home is truly a gem that combines luxury and natural beauty. Located just steps away from the community pool and tennis courts. Also, enjoy hiking or biking on the nearby trails.

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3702 W Riordan Ranch Road Phoenix, AZ 85083

$839,000

4 Beds

3 Baths

3,479 SqFt

Status Active

MLS # 6763338

Property Type Single Family Residence

Price Type --

Experience breathtaking mountain views in this stunning 4-bedroom home. With owned solar panels, you'll enjoy significant energy savings and a reduced carbon footprint! This home features 3 full bathrooms, den, spacious living room, and a formal dining with butler's pantry, this home is perfect for entertaining. The eat-in kitchen, equipped with tons of cabinet space and storage, flows into the family room with a cozy gas fireplace. Enjoy a loft for additional space. The backyard is a private oasis with lush grass and a self-cleaning pebble tec play pool with soothing water features. Complete with a 3-car garage, this move-in ready home is a true gem. Welcome home!

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9457 W Coral Mountain Road Casa Grande, AZ 85194

$839,000

4 Beds

3 Baths

3,094 SqFt

Status Active Under Contract

MLS # 6585158

Property Type Single Family Residence

Price Type --

2023 Modern Mediterranean home with attached Casita. It's decor is a blend of cultural influences with open spaces & elegance. 1 full acre just 2 minutes from I-10. Beautiful iron doors lead you to a Dream Gourmet kitchen complete with gas cooktop, amazing hood, oven, pot filler, island, stainless appliances, deep white sink, rich quartz counter tops, decorative back splash, brilliant chandelier lighting. & upgraded cabinetry. Grand family room with fireplace & 18' slider for magnificent views. Amazing master suite with Impressive master bath complete with tile & stone inlay. huge double back patio, RV gate, block fence, Paver driveway, Blown in foam insulation,2X6 exterior walls & sprinkler system. HOA allows RV's Boats & Toy

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6921 W Fremont Road Laveen, AZ 85339

$839,000

5 Beds

3 Baths

3,662 SqFt

Status Active Under Contract

MLS # 6711972

Property Type Single Family Residence

Price Type --

Stunning Horse Property! 1 acre lot, 24 foot entry. Salt water Pool with remote controlled lights, water slide, attached Grotto in pool, cave under grotto seats 6 persons, ''10 person spa Included'' Solar leased, Kitchen Granite Counters, Cherry spice raised 42 inch cabinets with crown molding, large walk in pantry with a door. Build in Granite Island, stainless steel appliances all included. Dramatic Stairway, primary is upstairs, Master bedroom suite with jetted tub, separate shower, private toilet, spacious walk in closet. Loft upstairs. Garage has 4 plus spaces insulated. The casita has private entrance, own ac. Sprinklers throughout, Security system, 8 cameras around the property. 3 front doors. Seller needs 15 days to move.

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8622 Jupiter Drive Flagstaff, AZ 86004

$839,000

4 Beds

3 Baths

3,209 SqFt

Status Active Under Contract

MLS # 6744885

Property Type Single Family Residence

Price Type --

**SELLERS MOTIVATED**If you're looking for a beautiful multi-generational home on 2.5 acres with stunning views of the San Francisco Peaks, look no further! This property features a spacious main home of 2,473 sq feet, including 3 bedrooms and 2 bathrooms. Enjoy large family and living areas, both equipped with pellet stoves to keep you warm during the colder months. The fenced front yard is perfect for relaxing while enjoying the tranquility of rural living. Additionally, there's a charming 1 bed 1 bath guest home with an attached garage, ideal for short or long term living. This property backs up to the National Forest, providing excellent opportunities for hiking and watching wildlife. With ample space for outdoor toys, animals, and guests, you'll have plenty of room for all your needs

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302 E Coral Gables Drive Phoenix, AZ 85022

$839,000

4 Beds

2 Baths

2,543 SqFt

Status Active

MLS # 6763600

Property Type Single Family Residence

Price Type --

Don't miss this beautiful 4-bed, 2-bath, 2,500 + sq ft home on a coveted corner lot in Moon Valley's sought-after Sandahl home. Features N/S exposure, split floor plan, designated dining room, and eat-in kitchen. The backyard is perfect for family fun, and entertaining, with a pool, pergola and spacious patio. Plus, a conditioned 200 sq ft workshop perfect for an office, gym, or creative space. Triple pane windows keep the outside out. Extra insulation in the attic helps with Heating/cooling costs. Don't miss this gem in a prime location close to schools, parks, and neighborhood hotspot restaurants!

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13002 N 48th Place Scottsdale, AZ 85254

Open House

$839,000

3 Beds

2 Baths

2,662 SqFt

Status Active

MLS # 6763694

Property Type Single Family Residence

Price Type --

Beautiful 3-bedroom, 2-bath, single-story home, on a large corner lot with NO HOA, offers a prime location near dining, parks, golf courses, hiking and biking trails. Its proximity to the highly anticipated Paradise Valley Mall redevelopment set to open soon makes it not only an excellent place to live but also a smart investment opportunity. Inside, you'll find a spacious open floor plan with warm-toned stained cabinets, granite countertops, and a stainless steel appliance package. The large master bedroom features an oversized walk-in travertine shower, while the backyard is ideal for entertaining with a sparkling pool, turf, built-in BBQ. Additional highlights include a 2-car garage with a charging station making this home an ideal blend of comfort, convenience, and distinctive charm.

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10399 E Saltillo Drive Scottsdale, AZ 85255

Open House

$839,000

4 Beds

3 Baths

1,963 SqFt

Status Active

MLS # 6769621

Property Type Single Family Residence

Price Type --

Welcome to this charming 4-bedroom, 3-bathroom home located in the highly sought-after McDowell Mountain Ranch community! This beautifully updated property features an open kitchen, vaulted ceilings, and large windows throughout that fill the space with natural light. The home also includes a two-car garage and a putting green in the backyard, perfect for outdoor enjoyment. Over the years, it has been thoughtfully remodeled with fresh paint, new carpet upstairs, a water softener, newer AC units and so much more. Nestled in a desirable community with access to top-tier amenities and breathtaking views, this home truly has it all. The McDowell community has walking trails, 2 pools, 10 pickleball courts, tennis courts, splash-pads, basketball courts and playgrounds! Come see this home today!

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7167 E Rancho Vista Drive Unit 3003 Scottsdale, AZ 85251

$838,800

2 Beds

2 Baths

1,155 SqFt

Status Active

MLS # 6700295

Property Type Apartment

Price Type --

This beautifully remodeled condo offers a prime investment opportunity, currently generating $6,000 per month in rental income. Located in the heart of Scottsdale, the 2/2 condo features a luxurious open layout with marble floors and gold accents. The chef's kitchen boasts stainless steel appliances, marble countertops, and a dining area, flowing into a spacious living room with a fireplace and patio views of the community pool. The expansive master suite includes dual closets and a spa-like en-suite with dual vanities and a multi-head shower. With high-end finishes and consistent rental income, this condo is a perfect investment opportunity or a fabulous place to call home.

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