#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

8537 E Pasadena Avenue Scottsdale, AZ 85250

$820,000

3 Beds

2.5 Baths

1,795 SqFt

Status Active

MLS # 6779591

Property Type Single Family Residence

Price Type --

Enjoy life close to Old Town Scottsdale! Amazing curb appeal with glass garage door, paver entry, and low maintenance yard. 3 bedrooms and 2.5 bathrooms. Engineered hardwood flooring throughout the house. Kitchen features custom cabinetry, waterfall edge island, herringbone tile backsplash, and more. Follow the massive 16' slider to your backyard with brand new turf and mature citrus tree. The gorgeous laundry room doubles as a butler's pantry, complete with a built-in wine fridge. Primary suite includes large double closets, chandelier, walk-in shower, and double sinks. Owners raised the ceiling height in all hallways, added new insulation, updated all electrical and plumbing, added all new windows and doors, and epoxy coated the garage floor. Home includes a newer AC unit and Hot Tub

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5956 E Lone Mountain Road Cave Creek, AZ 85331

$820,000

3 Beds

2 Baths

2,048 SqFt

Status Active Under Contract

MLS # 6729743

Property Type Single Family Residence

Price Type --

Nestled on over 2 acres of scenic, pristine natural desert land, this property features 3 spacious bedrooms, including a convenient lower-level bedroom, and 2 bathrooms. Enjoy breathtaking panoramic 360-degree mountain views from every window, creating a serene and picturesque backdrop for your daily life - Million-dollar views at less than a million-dollar price! This home also includes a 4-car garage with separate air conditioned 500 sq. ft. workshop, perfect for your cars, hobbies, and projects. With ample space for your toys, horses and RV, you have the ideal setting for crafting your dream outdoor lifestyle. The town of Cave Creek allows for up to 10 horses and offers the opportunity to build a casita on the property for even more possibilities. Located just minutes from the town core, this property offers the perfect blend of convenience and tranquility. Zoned Dr-89, which allows 10% of lot size under roof can be used for existing house, new guest house and/or barn with a height max of 25 feet, setbacks are 60 feet front and back and 30 feet on both sides.

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3223 S Hannah Lane Flagstaff, AZ 86005

$820,000

3 Beds

3.5 Baths

2,382 SqFt

Status Active Under Contract

MLS # 6776272

Property Type Townhouse

Price Type --

Rare end unit in Pinnacle Pines, surrounded by HOA green belt to one side and Forest Service out your backyard. 2,382 sq.ft., 3 bedrooms, 3.5 baths, Primary on the main + Loft/Flex room upstairs. On the main floor an over-sized primary en-suite w/walk in closet , dual sinks and a bonus main floor laundry room. Upstairs a secondary primary-suite for your guest's privacy and an additional guestroom and full bath + secondary loft/flex room plus a 2nd laundry room. This home has all the extra added details and finishes you would desire plus AC. Spectacular outdoor living space that features propane firepit, extended paver area for flex entertainer's space & miles of forest views with trails access. This home will not disappoint.

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10802 S Santa Margarita Drive Goodyear, AZ 85338

New

$820,000

4 Beds

3 Baths

3,013 SqFt

Status Active

MLS # 6782172

Property Type Single Family Residence

Price Type --

Complete remodel for this 4 bed 3 full bathroom home with a 4 car garage and RV gate! All new kitchen cabinets, quartz countertops, all new fixtures, and non-weight bearings were all removed in the kitchen, and new neutral laminate flooring was throughout! Check out this custom home on an almost 1/2 acre lot next to the lake and waterpark in Estrella Mountain!!

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7141 E Rancho Vista Drive Unit 5004 Scottsdale, AZ 85251

$820,000

2 Beds

2 Baths

1,424 SqFt

Status Active

MLS # 6769071

Property Type Apartment

Price Type --

Home, sweet home! Located in the prestigious Optima Camelview Village Condominium, this incredible 2-bedroom unit embodies modern comfort & convenience. Come inside & fall in love w/the desirable open floor plan graced w/bountiful natural light, wood flooring, surround sound, a cozy fireplace, & fire sprinklers for added safety. Spotless kitchen offers ample cabinet space, granite counters & backsplash, a peninsula w/a breakfast bar, stainless steel appliances, & recessed & pendant lighting. Enjoy a clear view of the neighborhood from the main retreat, showcasing floor-to-ceiling windows, plush carpet, a walk-in closet, & an ensuite w/dual sinks. Spend quiet moments on the balcony while sipping your favorite evening drink. Exceptional Community amenities await. Act swiftly!

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4341 E Abraham Lane Phoenix, AZ 85050

Open House

$820,000

4 Beds

2.5 Baths

2,474 SqFt

Status Active

MLS # 6775007

Property Type Single Family Residence

Price Type --

Spacious Desert Ridge home. Perfect home with 3 bedroom and a bonus room that could be a 4th bedroom. Enjoy the open concept kitchen living space. From the cozy fireplace to the backyard pool this home will bring years of pleasure for your family. Master bedroom has access to the balcony for morning sunrises and sunsets. Updated kitchen in 2021 and new roof in 2021. Don't miss out on this home in an amazing community.

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1962 E Drake Drive Tempe, AZ 85283

Open House

$820,000

4 Beds

2.5 Baths

3,027 SqFt

Status Active

MLS # 6771441

Property Type Single Family Residence

Price Type --

This light, bright and spacious Fulton home has it all! Home is great for entertaining and within the Kyrene Schools District! The open floor plan includes formal living & dining room, family room, loft, 3 car garage AND sparkling pool. The kitchen has a large island with breakfast bar, 42 inch cabinets, granite countertops, breakfast area, pantry and stainless steel appliances. The family room with wood-burning fireplace is wired for surround sound. The primary bedroom is downstairs and has a en suite bathroom with dual vanities, granite countertops, separate shower & soaking tub and large walk-in closet. More great interior features include downstairs half bath/powder room and laundry room with front loading washer and dryer included. The upstairs has 3 bedrooms, full bathroom with dual sink vanity, built-in cabinetry in hallway and large loft. The updated backyard has diving pool with diving board, travertine patio, artificial turf, ambient overhead lighting, grill, dog run with access from inside the home, expansive patio with ceiling fan and speakers. Home is nestled on a north/south exposure lot near Western Canal access path. The three car garage has built-in cabinets and EV charger outlet. New roof underlayment and patio roof area installed in 2016. Within the desirable pedestrian & bike friendly community of The Oasis at Anozira, this neighborhood has a 6.5 acre catch & release lake with various fish species, 0.88 of a mile walking path on the perimeter, bicycle path and beautifully maintained, lush landscaping. Home is a short distance to ASU Research Park, grocery stores, restaurants, movie theatre, Western Canal path and Tempe Kiwanis Park. Just minutes from Chandler Fashion Mall, Intel-Campuses, major dining, East Valley freeways (Loops 101 & 202, US60, I10), approximately 20 minute commute to Sky Harbor Airport and so much more! You're not just buying a home, you're buying a lifestyle!!!

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33556 N 74th Street Scottsdale, AZ 85266

Open House

$820,000

2 Beds

2 Baths

2,001 SqFt

Status Active

MLS # 6769603

Property Type Townhouse

Price Type --

Charming 2,001 square foot, 2 bedroom + office, 2 bath single-story home is located on a premium cul-de-sac lot in the highly coveted North Scottsdale community of Winfield. Upon arrival, the great room welcomes you. Adjacent to the great room are the dining area and private office. The kitchen shows that it was designed for culinary enthusiasts, featuring stainless steel appliances including a gas range, a breakfast bar, granite countertops, center island, and walk-in pantry. The home offers a split floor plan, with the primary bedroom located on the West side of the home. The lavish primary bathroom boasts a separate shower and a tub, double vanities and an expansive walk-in master closet. The private backyard features mature desert landscaping, a built-in BBQ and fabulous mountain views. The garage with epoxy floors offers ample built-in cabinet space. The location provides quick access to shopping, restaurants, several parks, premier hiking trails, and golfing. Winfield's community pool/spa, fitness center, café, tennis and pickle ball courts make this a very desirable community.

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11856 W Lone Tree Trail Peoria, AZ 85383

Open House

$820,000

5 Beds

2.5 Baths

3,231 SqFt

Status Active

MLS # 6772752

Property Type Single Family Residence

Price Type --

Welcome to this BEAUTIFUL 5 bedroom 2.5 bath home with a private pool in the sought after gated Vistancia community of Chaparral Canyon. This home has space for everyone with a formal dining room, eat in kitchen, separate den/teen room & the addition of a 5th bedroom that would make the perfect workout/office space. The kitchen is a chefs dream with double ovens, gas stove, large island & butlers pantry with an attached spacious walk in pantry. The formal dining room is the perfect space to host holiday dinners or enjoy relaxing in your private pool during our hot Arizona summers. Vistancia offers top notch amenities including 3 pools, water slide, pickle ball & tennis courts, indoor basketball court, club house with game room, walking trails, playgrounds & baseball fields. This location is close to the new Fry's grocery store, restaurants (new ones opening later this year) and has easy access to the 303 and Lake Pleasant. The perfect home in the perfect community!

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6931 E Teton Circle Mesa, AZ 85207

Open House

$820,000

3 Beds

3.5 Baths

2,842 SqFt

Status Active

MLS # 6777455

Property Type Single Family Residence

Price Type --

Welcome to this beautiful single-level, 3+bedroom, 3.5-bathroom home in the highly sought-after Las Sendas community. Ideally located in NE Mesa near Saguaro Lake, hiking and biking trails and EZ access to Loop 202 RM. The Diamond Point floor plan provides a spacious great room, a flex space as a den/office or formal dining room, perfect for entertaining! The large kitchen opens to the great room & dining area and features plenty of cabinetry for storage, a pantry, a center island w/gas cooktop, wall oven & microwave and large breakfast bar. All three bedrooms feature a ensuite for ultimate privacy and comfort. One bedroom and ensuite designed to be handicapped accessible, meeting a range of lifestyle needs.Outside, the expansive backyard boasts a sparkling pool, built in BBQ & fireplace. The large covered patio with access from the kitchen and primary bedroom is perfect for outdoor entertaining.The huge side yard is ready for your imagination: turf area for games, childrens play area or pet run. The over height, extended length garage is perfect for larger vehicles, added car lifts or garage storage racks separate A/C unit for hobbies in the garage! Las Sendas Community offers parks,swimming pools & spas, kids splash pad, tennis courts, pickleball courts, basketball courts and trials for quick hikes.

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7701 W Banff Lane Peoria, AZ 85381

$819,999

4 Beds

3 Baths

2,622 SqFt

Status Active

MLS # 6764315

Property Type Single Family Residence

Price Type --

Welcome to your Oasis in Peoria, with 4 bedrooms 3 bathrooms, on A over 1 acre lot. This property is on a county island, and includes its own pool as well as stalls for up to 3 horses. This corner lot provides both space and privacy!

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28143 N Desert Sky Trail Queen Creek, AZ 85144

$819,900

4 Beds

2.5 Baths

2,655 SqFt

Status Active

MLS # 6742550

Property Type Single Family Residence

Price Type --

Welcome to your quiet oasis with incredible mountain views! This stunning 4 bed, 2.5 bath home sits on 1.25 acres of land. Walk in the front door to an open floor plan with a massive kitchen surrounded by upgraded cabinets and quartz countertops. Built in 2021 with 2x6 exterior framing and sheered exterior walls with 10 and 12 foot ceilings, spray foam insulation at roof deck, synthetic stucco, quartz countertops, walk in tiled master shower, beautiful LED lighting, 3 car garage, built-in fireplace, and walk-in closets throughout. The elevated back patio provides great views of the mountains and surrounding areas. Come enjoy this gem that is far enough away from the city, but close enough for your needs. It won't disappoint!

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