#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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7121 E Rancho Vista Drive Unit 4004 Scottsdale, AZ 85251

$835,000 - 2Br/2Ba -  for Sale in Optima Camelview Village Condominium 2nd Amd, Scottsdale
Open House
$835,000
2 Beds
2 Baths
1,092 SqFt
Status Active
MLS # 6775140
Property Type Apartment
Price Type --
Experience unparalleled luxury and breathtaking vistas in this sophisticated condo, where Camelback Mountain feels close enough to touch. Thoughtfully designed, the open floor plan flows effortlessly to a private terrace, ideal for enjoying Scottsdale's spectacular sunsets. This residence offers the rare convenience of two premium parking spaces and a highly coveted storage unit, adding both value and practicality. Enjoy exclusive access to resort-style amenities, including a sparkling pool, state-of-the-art fitness center, and 24-hour concierge service. Nestled in the heart of Scottsdale, just moments from world-class dining, shopping, and entertainment, this home delivers the perfect blend of comfort, elegance, and lifestyle.

209 E Northern Avenue Phoenix, AZ 85020

$835,000 - 4Br/3Ba -  for Sale in Fleetwood Acres, Phoenix
Open House
$835,000
4 Beds
3 Baths
2,727 SqFt
Status Active
MLS # 6736391
Property Type Single Family Residence
Price Type --
Welcome to your dream oasis in the heart of the Central Corridor! This stunning, freshly painted and upgraded 4 bedroom, 3 bath home boasts an inviting open living concept, perfect for both relaxation and entertaining. Immerse yourself in luxury with a split master retreat featuring lavish upgrades & ample walk in closet space, offering unparalleled comfort. Enjoy the ultimate in outdoor living with a heated diving pool and new sliding doors opening to your spacious backyard, outdoor kitchen and custom pergola, ideal for gatherings or quiet relaxation. This home is a rare gem that combines elegance, functionality, and the finest in modern living. Don't miss out on the additional home gym, private office space and wood burning fireplace!

15435 N 1st Avenue Phoenix, AZ 85023

$835,000 - 4Br/3Ba -  for Sale in Puerta Vieja, Phoenix
Open House
$835,000
4 Beds
3 Baths
2,414 SqFt
Status Active
MLS # 6770108
Property Type Single Family Residence
Price Type --
**Motivated seller, make your move before the holidays!** Beautiful Moon Valley home with great curb appeal. Located on large corner lot with circular driveway and RV gate. Walking distance to the award-winning elementary school across the street and Moon Valley Park. Open floor plan includes cozy family room with wood burning fireplace, while the living room features a gorgeous built-in bar perfect for entertaining. Spacious primary suite has updated bathroom and 2 closets. 4th bedroom, split from others, has its own bath. Great for guests or home office. Large backyard has multiple covered patios for ample shade with a grassy play area and diving pool. Make this wonderful home yours in time to celebrate the magic of Moon Valley for the holidays! Owner/Agent

21123 E Mayberry Road Queen Creek, AZ 85142

$834,999
4 Beds
3 Baths
3,073 SqFt
Status Active
MLS # 6757341
Property Type Single Family Residence
Price Type --
Come check out this beautiful 4 bedroom, 3 bathroom home! Enjoy a luxurious primary suite and amazing kitchen that is perfect for hosting and entertaining! The backyard is perfectly designed with a pool that includes a built-in table and chairs for in-pool entertainment. Backyard also includes low maintenance landscaping with artificial grass. There is a 3 car tandem garage that offers great storage! Located in a beautiful and newly built community near tons of shopping, dining and fun!

1703 W Lodge Drive Phoenix, AZ 85041

$834,900
4 Beds
2.5 Baths
3,388 SqFt
Status Active
MLS # 6764042
Property Type Single Family Residence
Price Type --
Spectacular Mountain & City Light Views welcome you to this lovely gated community of Talasera! WOW! Take in the beauty of the Majestic South Mountains as you enter this 4 bedroom/ 2 ½ bath single level home on spacious .46 acre lot boasting a sparkling pebbletec play pool. Desirable open floor plan with large dining room and bonus room offering private exit to courtyard. Spacious entertainer's kitchen opens to great room-featuring an abundance of cabinets and granite countertops, stainless appliances w/ 5 burner gas stove. Large split primary suite provides its own exit to back patio plus bath w/ large snail shower & Jacuzzi tub. Jack & Jill secondary bedrooms. Peaceful and serene spacious covered patio. Nearby popular mountain hiking trails.What an opportunity- needs a little TLC.

35338 N 27th Drive Phoenix, AZ 85086

$834,900
4 Beds
3.5 Baths
4,177 SqFt
Status Active
MLS # 6752963
Property Type Single Family Residence
Price Type --
Stunning and meticulously maintained, this 4-bedroom home (plus 2 bonus rooms) boasts 3.5 bathrooms and spans two stories in the picturesque Tramonto community. The versatile floor plan includes one bedroom and a bonus room on the main level. The primary suite is generously sized with a private bathroom featuring dual vanities, a jetted tub, separate shower, private toilet, and a spacious walk-in closet. Tramonto is a sought-after master-planned community offering an array of amenities such as walking paths, parks, swimming pools (including a kiddie pool), playgrounds, tennis courts, basketball and volleyball courts and more. Conveniently located in north Phoenix near the I-17 and Carefree Highway, residents enjoy easy access to shopping and dining options.

2231 E Fandango Drive Gilbert, AZ 85298

$834,900
4 Beds
3 Baths
2,649 SqFt
Status Active
MLS # 6732682
Property Type Single Family Residence
Price Type --
REDUCED $30K- WILL NOT LAST AT THIS PRICE!! RARE - 2 Homes Under 1 Roof - Lennars MOST POPULAR Trillium Floorplan - upgraded like Model & Absolutely Stunning VIEWS of the Mountains - NO Homes behind peering into your backyard - very Serene. Main Home is almost 2000 SF w/ Gourmet Kitchen, Massive Island w/ Quartz Countertops , 42'' Luxurious White Cabinetry. SEP Casita has lockable private access to Main Home with FULL KITCHEN, Spacious FAMILY Room , LAUNDRY & WALK IN CLOSET + PRIVATE BEDROOM along w/ its Own Private Entrance and Attached Single Car Garage w/ private access. Great for multi family or elegant guest quarters. Stainless Steel Appliances in both Kitchens, Split 3 Car Garage. Master Bedroom Split with Double Vanities & Oversized Walk In Shower & HUGE Walk In Closet. Backyard professionally landscaped backyard with green grass, sprinklers & pavers. 3rd Car Separate Garage insulated with HVAC & vent for use as shop. Family Room has built in surround sound with speakers. Casita Closet is pre-plumbed for washer & dryer, but currently being used as traditional closet. Ring Doorbell & Security System w/ Eero Equip already installed. Gated luxury community has 2 community parks with covered ramadas, basketball court and walking paths.

949 E Holland Park Drive Gilbert, AZ 85297

$834,900
4 Beds
3.5 Baths
3,338 SqFt
Status Active Under Contract
MLS # 6747395
Property Type Single Family Residence
Price Type --
PRICED BELOW APPRAISAL! The perfect 2 story home is now available in the desired Kensington Estates! This home features an ideal kitchen with staggered dark wood shaker style cabinets, high-end stainless steel appliances, custom pendant lighting over the Quartz counter-top island, walk-in pantry with separate butler's area for additional storage, wide plank tile flooring throughout, 2 custom slider doors for inside/outside entertaining, one secondary bedroom with ensuite bathroom downstairs, upstairs has a cozy loft for kids/bonus area, primary bedroom is spacious with a sitting area, primary bathroom has dual sinks, separate walk-in shower and soaking garden tub, HUGE walk-in closet with custom shelving & more. The back yard has a covered patio with travertine and synthetic grass area

5116 W Trotter Trail Phoenix, AZ 85083

$833,750 - 5Br/4Ba -  for Sale in Stetson Valley Parcels 2 3 4, Phoenix
Open House
$833,750
5 Beds
3.5 Baths
4,070 SqFt
Status Active
MLS # 6740532
Property Type Single Family Residence
Price Type --
Beautifully upgraded 5-bedroom, 3.5-bathroom residence offers luxury, comfort, and endless possibilities for entertaining. The gourmet kitchen is a chef's delight, featuring durable granite countertops, a custom backsplash, stainless steel appliances, and a spacious island that seamlessly flows into the inviting living room area. Spa-inspired master suite, complete with private access to a large patio and balcony. Oversized loft area , as well as a 3-car garage. 2 new HVAC units, a newer water heater, and a water softener. Step outside to your very own resort-style backyard, complete with a heated pool featuring PebbleTec finish and a soothing waterfall, all installed in 2019. Additionally, the property includes an RV gate and parking. This home truly has it all—

1323 E Eleana Lane Gilbert, AZ 85298

$832,618 - 4Br/3Ba -  for Sale in Waterston Central Phase 1, Gilbert
Open House
$832,618
4 Beds
3 Baths
2,412 SqFt
Status Active
MLS # 6717587
Property Type Single Family Residence
Price Type --
Charming new Spanish-style home in one of Chandler's sought after Waterston Central communities, Jacamar. Boasting 4 bedrooms, 3 bathrooms, and an attached 3-car garage, this property is loaded with designer selections and highlights. Stainless appliances in the kitchen with a gas cooktop, double ovens, and a microwave as well as Quartz countertops. Other features include Diamond collection Maple White cabinets, wood look plank tile 8'' x 40'' flooring, a 12' center pull sliding doors in the dining room that open to a covered back patio, an extended Primary Suite, a laundry room with a sink and base cabinets, and pavers on the driveway and front porch. Homeowners enjoy gated access, biking and walking paths, a playground, and a community pool and spa.

7167 E Rancho Vista Drive Unit 2007 Scottsdale, AZ 85251

$831,900
2 Beds
2 Baths
1,252 SqFt
Status Active
MLS # 6742930
Property Type Apartment
Price Type --
Welcome Home! This uber-charming Optima Camelview residence offers 2 bedrooms, 2 baths & an additional bonus room that is perfectly fit for an office/game room. Upscale modern luxury & an open floor plan with loads of natural light! Enjoy top-of-the-line finishes with sleek kitchen appliances, granite countertops, cherry cabinets & automatic shades. Floor-to-ceiling windows showcase breathtaking views of the 1,200+ square feet of outdoor living space & lush greenery that has made Optima so desirable. Experience unparalleled amenities in one of the most sought after buildings in Scottsdale, state-of-the-art fitness center & beautifully-manicured courtyards within the community. Exquisite shopping & dining around every corner minutes from Old Town Scottsdale... don't wait to see this one! Optima Camelview caters to luxury lifestyle living at its finest, featuring concierge, gated parking, 24,000 square foot state-of-the-art fitness center, steam rooms, indoor lap pool/spa, 2 outdoor pools, racquetball/basketball/pickleball, putting green, and of course pickleball. On site 24/7 security, business center + so much more. Discover refined urban living in a resort-style atmosphere. An exclusive address in Scottsdale! Metropolis restaurant & bar. Perfectly located in the heart of Old Town Scottsdale with world-class shopping, restaurants, multiple golf courses, MLB spring training, and minutes away from the 101 and Sky Harbor Airport.

15767 W Edgemont Avenue Goodyear, AZ 85395

$830,000
3 Beds
3 Baths
2,219 SqFt
Status Active
MLS # 6769733
Property Type Single Family Residence
Price Type --
Outdoor oasis with a guest house on the 15th hole of Tuscany East Golf Course in the sought-after Pebblecreek Community. The main home features 2 bedrooms with plank wood-look tile & a versatile office/den. The separate guest house also includes plank wood-look tile, a walk-in closet, & a full bath. Common areas boast tile flooring & crisp white shutters on every window, while the gourmet kitchen offers granite countertops, stainless appliances, and a large island with breakfast bar. The backyard showcases a $140k custom paver design bar & grill area with a gas BBQ, side burner, fridge, firepit, water feature, & two large Alumawood Pergolas. Lush landscaping with citrus trees & mountain views. The 2.5-car garage includes a workbench, 2021 water heater, softener, & golf cart parking. Resort-Style Living in Pebblecreek with Private Guest House & Backyard Entertainment Oasis on the Golf Course! Welcome to luxury living in the exclusive Pebblecreek Resort Community! This stunning property is located on the 15th hole of the Tuscany East Golf Course, offering breathtaking mountain views and a backyard oasis designed for ultimate entertaining. This home is the epitome of resort-style living. Property Features: Main Home - 1,967 sq. ft. 2 Bedrooms 2 Baths + Office/Den æ Experience the ultimate in open-concept living, featuring a stunning gas fireplace framed in sleek granite, perfectly complemented by panoramic golf course views right from your living room. A blend of elegance and comfort designed to impress! æ Sleek tile flooring flows throughout the common areas, offering both modern style and effortless maintenance. Perfect for a contemporary, low-maintenance lifestyle! æ The bedrooms and office/den feature elegant plank wood-look tile flooring, blending the warmth of wood with the durability and style of modern design. A perfect touch of sophistication for these inviting spaces! æ Master Suite: Indulge in a spacious glass-enclosed shower, complemented by a custom walk-in closet. The en-suite bathroom boasts dual sinks with sleek granite countertops, offering both luxury and functionality for your everyday retreat. æ Chef's Kitchen: Elevate your culinary experience with gleaming granite countertops, top-of-the-line stainless steel appliances, and a spacious island perfect for prep and entertaining. Enjoy a lowered breakfast bar for casual dining, beautiful walnut cabinetry with pull-out shelving, recessed lighting, and a cozy breakfast nook for your morning rituals. A true blend of style and function! æ Crisp white shutters adorn every window, providing an elegant touch while enhancing privacy and energy efficiency. Perfectly designed to balance style and function, these shutters create a serene atmosphere throughout the home. æ Expansive laundry room featuring built-in overhead cabinets that offer abundant storage space, complemented by a convenient sink. This well-designed area combines functionality with organization, making laundry day a breeze! æ Office/Den: This versatile space features a convenient queen-size Murphy Bed, effortlessly transforming it into a cozy guest room when needed. Perfect for maximizing functionality without sacrificing style! æ Two Full Baths: Elegantly updated with premium finishes that elevate the space, blending luxury and functionality for a spa-like experience. Each bath is designed with meticulous attention to detail, ensuring a stylish retreat for everyday use. æ Private Courtyard: A tranquil entryway that exudes charm and elegance, offering a serene escape that beautifully enhances the home's overall appeal. This inviting space is perfect for relaxation and entertaining, adding a touch of sophistication to your outdoor living experience. æ 2.5-Car Garage: This spacious garage features a full workbench, complemented by custom cabinets and overhead racks, providing an abundance of storage space for all your tools and equipment. Designed for both functionality and organization, it's the perfect workspace for any enthusiast! æ Recent upgrades include a new 2021 water heater and a state-of-the-art water softener and filtration system, ensuring optimal comfort and efficiency throughout your home. Enjoy peace of mind knowing that these essential systems provide reliable performance and enhanced water quality for your everyday needs. Private 252 sq. ft. Guest House æ The casita boasts a generous walk-in closet and a stylish full bath, offering a perfect blend of comfort and privacy. This well-appointed space is ideal for guests or as a personal retreat. æ The built-in queen-size Murphy bed effortlessly combines space-saving functionality with style, transforming any room into a cozy guest suite at a moment's notice. This ingenious design enhances versatility, making it a perfect addition to your home while maximizing living space without sacrificing comfort. æ Experience the beauty of plank wood-look tile flooring, offering the warmth and richness of natural wood while providing the durability and ease of maintenance that modern living demands. This stylish flooring choice adds a touch of sophistication to your space, perfectly blending aesthetics with functionality. æ Full bathroom with shower/tub combo. $140k Backyard Oasis æ Discover an expansive custom paver patio designed for outdoor enjoyment, complete with a large firepit, a serene water feature, and breathtaking mountain views. This stunning outdoor oasis invites you to relax and entertain in style, making it the perfect setting for memorable gatherings or peaceful evenings under the stars. æ Enjoy the elegance of two extended Alumawood Pergolas that provide both stylish shade and architectural flair. These beautifully designed structures create an inviting outdoor ambiance, perfect for entertaining or relaxing in comfort while enhancing the overall aesthetic of your outdoor space. æ Elevate your outdoor cooking experience with a built-in gas-connected barbecue, complete with a side burner and fridge, all centered around a spacious extended bar. This stylish setup is perfect for entertaining friends and family, making it easy to prepare meals and enjoy refreshing drinks while basking in the beauty of your outdoor oasis. æ Experience the convenience of a remote-controlled sunshade, allowing you to effortlessly adjust your outdoor space's shade and ambiance with the push of a button. This modern feature not only enhances comfort but also adds a touch of luxury to your outdoor living area, ensuring you can enjoy the perfect balance of sunlight and shade at any time. æ Immerse yourself in lush landscaping that showcases vibrant lemon, orange, and grapefruit trees, creating a stunning oasis right in your backyard. The newer 2021 irrigation system ensures these fruitful trees thrive, providing both beauty and the potential for homegrown citrus delights. This thoughtfully designed outdoor space combines aesthetics with practicality, enhancing your enjoyment of nature's bounty. Resort Amenities PebbleCreek's resort-style living offers a truly exceptional array of amenities tailored to an active adult lifestyle in its vibrant 55+ community. From top-notch fitness facilities to a variety of recreational options, the amenities provide endless opportunities for wellness, relaxation, and social engagement. Whether residents are looking to stay fit, indulge in creative arts, or connect with like-minded neighbors, PebbleCreek ensures a dynamic lifestyle where leisure and activity seamlessly blend, making every day feel like a vacation. Community Centers: æ Tuscany Falls Clubhouse: This clubhouse includes a ballroom, auditorium, multi-purpose rooms, billiards, and a private dining room. æ Eagle's Nest Clubhouse: Features include a large resort-style swimming pool, library, and additional spaces for various activities. Fitness Facilities: æ The state-of-the-art fitness center at the Tuscany Sports & Aquatics Complex features 8,000 square feet of workout space. It includes fitness studios, cardio, weight training equipment, and rooms for fitness classes like yoga, pilates, and aerobics. æ Additionally, the facility offers two indoor lap pools, outdoor lap pools, whirlpools, and saunas. Tennis and Pickleball: æ PebbleCreek boasts an expansive 20-court pickleball complex and 13 tennis courts, providing ample space for both casual play and competitive events. The tennis courts include both hard and clay surfaces, catering to various player preferences. Golf: æ The community has 54 holes of championship golf, divided between the Eagle's Nest and Tuscany Falls courses, each offering beautiful views and top-tier facilities, including pro shops and practice areas. Outdoor Recreation: æ For other outdoor activities, residents can enjoy bocce ball courts, a softball field, and a dog park. Classes and Clubs: æ There are numerous classes available, from lifelong learning opportunities to fitness programs. These include golf lessons, pickleball skill-building sessions, and various hobby clubs like wine tasting, RVing, and arts and crafts.

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