#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

15447 N 10th Avenue Phoenix, AZ 85023

$799,997

4 Beds

2.5 Baths

3,018 SqFt

Status Active

MLS # 6771820

Property Type Single Family Residence

Price Type --

This spacious 4-bedroom, 3-bathroom home sits on the largest lot in the community, offering a resort-style backyard with a sparkling swimming pool, putting green and she shed make it the perfect backyard oasis. The interior features a bonus room for added flexibility and granite countertops that add a touch of elegance. A 3-car garage and convenient RV gate provide ample parking and storage space. For those who want to be active, this home is within walking distance of a 30 acre park with playground, tennis courts, and basketball courts. For those seeking a luxurious and comfortable lifestyle, this property is ideal.

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5560 N 73rd Place Scottsdale, AZ 85250

$799,995

3 Beds

2 Baths

1,845 SqFt

Status Active

MLS # 6782093

Property Type Single Family Residence

Price Type --

Welcome home to this renovated 3 bedroom, 2 bath in the lovely gated community of La Jolla Blanca. Walk in to your open concept home with vaulted ceilings. Kitchen features new shaker cabinetry with soft close drawers, quartz countertops, large island & stainless steel appliances. Light & bright family with cozy fireplace and feature wall. Both bathrooms tastefully updated with modern tile, shaker cabinetry & all new fixtures. Master bath w/ separate tub & shower. Luxury final flooring throughout. All new lighting. Dual pane windows. 2 car garage. Covered patio perfect for relaxing. Quiet cul-de-sac location w/ only one shared wall in garage. Located close to Scottsdale dining & shopping.

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12204 W Blackhawk Road Casa Grande, AZ 85194

$799,995

4 Beds

2.5 Baths

2,510 SqFt

Status Active

MLS # 6743594

Property Type Single Family Residence

Price Type --

Discover this custom-built home on 1 acre in Val Vista Estates - 2,510sqft of contemporary big-sky elegance. One story with spacious living area, a gourmet kitchen with sprawling quartz island & beverage fridge, & ample storage thruout (walk in Pantry!). The home has 3 bedrooms, a den, & a luxurious primary suite with a spa-like bathroom. The expansive lot offers endless possibilities for outdoor living, from creating your dream garden to designing the perfect space for entertaining under the wide-open western skies. Don't miss sunrise from the spacious patio!The oversized garage, w/ three doors, a pass-through bay, 220 outlet, & toy storage, is perfect for all your needs. ENERGY EFFICIENT home with Spray Foam Insulation thru-out. Low-E Windows. Ceiling Fans. Concessions Available!

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20102 E Robin Road Queen Creek, AZ 85142

$799,995

6 Beds

4 Baths

3,050 SqFt

Status Active

MLS # 6767964

Property Type Single Family Residence

Price Type --

This BEAUTIFUL home is located in the Fulton Home masterplan community of Queen Creek Station, near the heart of Queen Creek. The home offers 6 bedrooms and 4 full bathrooms, this includes the owner's suite and a guest suite. The open concept floor plan has all the right touches throughout. The gourmet kitchen highlights 42'' cabinets with crown molding, a large island, granite countertops, a gas cooktop, wall oven, subway tile backsplash, stainless steel appliances, and designer pendant lighting all open to the main living room and dining room. From either area, you will catch a glimpse of your amazing backyard oasis through your extra-large double sliding glass door in the living room or the single sliding glass door in the dining area. Adjacent to the living room, you will find a formal dining room/den. This spacious split floor plan home is quality built and is efficiently Energy Star and Air Plus certified. There is luxury wood plank-style tile flooring throughout the entire home except for the bedrooms where you will find plush carpet. You can enjoy the amazing community aquatic center that features a generous 5,000-square-foot community pool and splash pad. Or relax in your beautiful private resort-style backyard that features a putting green, an amazing rock water slide with a waterfall, and plenty of space to layout and entertain. Come see all this BEAUTIFUL home has to offer.

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22724 E Lords Way Queen Creek, AZ 85142

$799,990

6 Beds

4.5 Baths

4,127 SqFt

Status Active

MLS # 6770983

Property Type Single Family Residence

Price Type --

''Stunning Diamond Craftsman Home with Mountain Views! Welcome to this exquisite 2-story Diamond Craftsman home, boasting a spacious 4,127 sq ft of luxurious living space. With 6 bedrooms and 4.5 baths, this property is perfect for families or those seeking room to entertain. The gourmet kitchen is a chef's dream, featuring a 5-burner gas cooktop, built-in double oven, and microwave, all complemented by a stylish chimney hood. The Silver Gray shaker cabinets with crown molding and warm bronze hardware add an elegant touch, while the glistening white quartz countertops provide a stunning contrast. Enjoy added convenience with a pull-out trash recycling cabinet and extra cabinets in the nook. Unwind in the primary suite, which includes an enlarged shower and a free-standing tub for a spa-like retreat. Additional highlights include 8' doors throughout, doors to the office, and a huge loft area perfect for recreation or relaxation. This premium lot offers breathtaking views of the Superstition Mountains, with no neighbors behind for added privacy. Natural light floods the home through numerous windows, enhancing the inviting atmosphere. Upgrades abound, with thoughtful electrical and low-voltage enhancements like floor outlets, pendant lighting, and a Ring doorbell with camera wiring. The home features 6x36 natural wood plank tile flooring, adding warmth and character. The upstairs laundry includes cabinets and pre-plumbing for a sink, as well as a rain shower showerhead in the primary bath, with additional pre-plumbing for soft water and reverse osmosis. Blinds throughout offer privacy and style. Don't miss the opportunity to own this exceptional Diamond Craftsman homewhere luxury meets functionality!

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23193 E Nightingale Road Queen Creek, AZ 85142

New

$799,990

4 Beds

3 Baths

3,024 SqFt

Status Active

MLS # 6784614

Property Type Single Family Residence

Price Type --

Brand new phase!. This amazing home has a full guest suite and is conveniently located to all that Queen Creek has to offer. Minutes from the brand new Costco, Schnepf Farms, Queen Creek Market Place and the Queen Creek Olive Mill.

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15435 W Bajada Drive Surprise, AZ 85387

$799,990

4 Beds

3 Baths

3,000 SqFt

Status Active

MLS # 6781820

Property Type Single Family Residence

Price Type --

SPEC HOME READY FOR IMMEDIATE MOVE IN** HUGE BUILDER INCENTIVES WITH PREFERRED LENDER**MOUNTAIN VIEWS**OVER AN ACRE LOT** NO HOA**CORNER LOT**4 BED + 3BTH +GREATROOM + 4 CAR GARAGE WITH PASSTHROUGH**10' CEILINGS** KITCHEN WITH GRANITE COUNTERTOPS,LARGE KITCHEN ISLAND, 42''UPPER CABINETS, STAINLESS APPLIANCES AND WALK-IN PANTRY** OWNERS SUITE HAS SEPARATE TUB & TILED SHOWER, DUALS SINKS, AND PASS THROUGH CLOSET DIRECT TO LAUNDRY ROOM**N/S EXPOSURE**CERAMIC TILE THROUGHOUT HIGH TRAFFIC AREAS**BUILDER WARRANTY SHALL APPLY!!

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16021 S 13th Avenue Phoenix, AZ 85045

$799,990

5 Beds

2.5 Baths

3,184 SqFt

Status Active

MLS # 6729723

Property Type Single Family Residence

Price Type --

Welcome home to your Club West Oasis! This highly upgraded home has it all! A custom Iron door w/Schlage keyless entry lock welcomes you into this stunning home featuring vaulted ceilings, wood floors, wet bar w/wine fridge (2020), formal living+ dining room leading into the entertainers kitchen. In the kitchen you will find custom cabinets w/under cabinet lighting, SS appliances + more. Spacious floor plan with Primary bedroom & 1/2 bath downstairs. Primary room ft. incredible views, remodeled bathroom, door to backyard pool oasis. Upstairs you will find 4 oversized bedrooms (one w/ balcony access), full bathroom & wall of built in cabinets. So many upgrades (full list in documents tab) including new roof(2021), A/C(2019 & 2023), turf(2019), shutters(2021), pool resurfaced(2024) +more!

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5707 E Killen Loop Prescott Valley, AZ 86314

$799,990

3 Beds

3 Baths

2,418 SqFt

Status Active

MLS # 6736062

Property Type Single Family Residence

Price Type --

Welcome to your dream home, stunning Energy Star certified Smart home with owned solar. As you arrive, a paver driveway leads to the inviting front entrance and covered porch, setting the tone for what lies beyond. Inside, plank tile flooring flows seamlessly throughout the open floor plan, complemented by plush carpet in the three bedrooms. A bonus room, which features custom closet doors and adjustable drawers. A great room with a modern gas fireplace on remote, adjoining dining area invites all the comfort and relaxation of a home. The gourmet kitchen is a chef's delight with stainless steel appliances, including a Bosch refrigerator, 5 burner gas cooktop, wall oven and microwave, centered around a large kitchen island with quartz countertops and a stylish backsplash. A walk-in pantry provides ample storage. The laundry room is equipped with cabinets, folding countertop, and a utility sink. This room is wired for a solar pack. Quartz countertops grace each bathroom, including the luxurious owner's suite with its modern tiled shower, freestanding bathtub, and executive height dual sink vanity. A spacious walk-in closet completes the suites appeal. Outside, professionally landscaped grounds on a drip system adorn the front and back, with the backyard featuring a covered paver patio off the great room, an extended open patio, artificial grass, raised garden beds, a shed, and a block privacy fence for entertaining in style. The extended 2-car garage boosts custom cabinets, a workbench, overhead storage and shelf storage. A Wi-Fi booster for seamless connectivity. Custom window blinds, great room and owner's suite are remote-controlled for added convenience and comfort to this modern oasis of a home.

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3628 N 59th Street Mesa, AZ 85215

$799,970

4 Beds

3 Baths

2,462 SqFt

Status Active

MLS # 6757655

Property Type Single Family Residence

Price Type --

Major Incentives for a Quick Close! Highly upgraded with White Cabinets, Quartz Countertops, 10' Ceilings, Iron Front Door, Wall of Glass, Wood Look Tile Thruout Entire House. Gourmet Kitchen and Stunning Owner Suite. Super shower Adds More Closet Space, Nice Layout with Split Bedrooms. Walk to the Community Pool and Fitness Center with sport courts, party room and plenty of grassy areas to play in. Red Mountain is a Prominent Feature in the Whole Neighborhood, Walk for hours in Our Trail System Without leaving the Community or Red Rock is close to many hiking trails, NE Mesa's Saguaro and Canyon Lakes, Salt River and more! Also close the freeway/airport/shopping and restaurants. Really can't beat the location! Ask about Closing Costs Incentive!!

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43123 N 14th Street New River, AZ 85087

$799,950

4 Beds

2 Baths

2,443 SqFt

Status Active

MLS # 6772974

Property Type Single Family Residence

Price Type --

New River Entertainer's Paradise 4 Bedroom 2 Bath home on a 1 Acre lot with the Ultimate Entertainers backyard beautifully landscaped with Heated Pool, Spa, Putting Green, Outdoor Bar and Mountain Views. Spacious Master bedroom with-in closet, Master bath with Garden tub separate shower, double sinks and Alder cabinetry. Kitchen features upgraded Granite Countertops and Solid Alder cabinetry and recently replaced stainless steel appliances.3 additional bedrooms finish off this desirable home. HVAC was replaced in 2021 and comes with transferrable warranty. Property also offer RV parking with a 18 x 45 RV shade complete with 50/30 amp service which can be adapted to offer 110v service. Some Home furnishings are available for sale and will be sold on a separate bill of sale.

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2022 W Steed Ridge Phoenix, AZ 85085

$799,950

4 Beds

3 Baths

2,689 SqFt

Status Active

MLS # 6760078

Property Type Single Family Residence

Price Type --

Stunning, upgraded home in the highly sought after master planned community of Fireside at Norterra! Step inside to on-trend tile floors, neutral color palette, recessed lighting, and a spacious great room perfect for entertaining. The gourmet kitchen features rich wood cabinetry, stainless steel appliances, wall ovens, granite counters, tile backsplash, pantry and large center island. Retreat to the main suite complete with dual vanities, make-up station, and a large walk-in closet. There's also a versatile den, perfect for a home office. The serene backyard is an oasis with a covered patio, pergola with remote electric shades, and firepit. Just steps away from hiking and biking trails. Enjoy access to community amenities like state of the art gym, pools, spa, tennis, parks and more!

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