#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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5027 W El Cortez Trail Phoenix, AZ 85083

$799,900
5 Beds
3 Baths
3,713 SqFt
Status Active
MLS # 6751263
Property Type Single Family Residence
Price Type --
This Is It! Excellent Location On This Beautiful Home In Stetson Valley! Great Curb Appeal, Step Inside To Circular Foyer w/Soaring Ceilings, Formal Living w/Gas Fireplace, Dining/Family Room, 5 Bedroom/3 Full Bath (2 Downstairs), Plus Loft Area. Main Bedroom Has A Huge Additional Room w/Double French Doors, Perfect For Office, Gym, Etc, 2 Walk In Closets & Huge Tiled Walkin Shower. Kitchen Has Granite, Kitchen Island, Gas Cooktop, Gas Fireplace, Plantation Shutters, Energy Efficient Dual Pane Windows, Ceiling Fans Throughout & 3 Car Garage. The Backyard Is A Beautiful Oasis w/Heated Play Pool, Covered Patio, Gas Fireplace, Dog Run w/Artificial Turf, Built In BBQ Area, Mountain Views & Spectacular Desert Sunsets, The Premium Lot Is Very Private w/Open Greenbelt Areas On The Side & Back!!! Completing the downstairs, you have one bedroom and a versatile den/5th bedroom with a double-door entry. Other bedrooms, along with a cozy loft, await upstairs! The oversized main bedroom is a true retreat featuring a sitting room and an ensuite with dual sinks, a large tiled shower, & two walk-in closets. If entertaining is on your mind, the RESORT-STYLE backyard awaits you! With a paver-covered patio, firepit, view fence, artificial turf, and a sparkling pool, this space promises year-round enjoyment. The serene vistas provide a picturesque backdrop to your everyday living. What a RARE gem!

5840 N Scottsdale Road Paradise Valley, AZ 85253

$799,900
2 Beds
2 Baths
1,600 SqFt
Status Active
MLS # 6712841
Property Type Townhouse
Price Type --
Welcome to this newly renovated townhouse located at 5840 N Scottsdale Rd, Paradise Valley, AZ 85253. With a contemporary design and meticulous attention to detail, this 1600-square-foot townhouse offers a stylish and comfortable living experience in a highly sought-after location. As you enter the townhouse, you'll be greeted by an open and bright living space. The interior has been thoughtfully updated with modern finishes and tasteful decor, creating a welcoming atmosphere for residents and guests alike. The home features a spacious living room, perfect for relaxation and entertainment. The large windows flood the room with natural light, and the neutral color palette enhances the sense of space and tranquility. The kitchen is a chef's delight, showcasing brand-new stainless steel appliances, sleek countertops, and ample storage space. The adjacent dining area is ideal for enjoying meals with family and friends. The primary bedroom is a true retreat, complete with a vaulted ceiling, an en-suite bathroom, and generous closet space. The large second bedroom can be used as a guest room, a home office, or a personal gym, depending on your needs. This townhouse also features a private outdoor patio, perfect for enjoying the beautiful Arizona weather. Whether you're sipping your morning coffee or hosting a small gathering, this outdoor space provides a serene and relaxing environment. Convenience is key, as this townhouse is located in the highly desirable Paradise Valley area. With easy access to major highways, shopping centers, restaurants, and entertainment venues, you'll have everything you need just moments away. Residents of this community also have access to amenities such as a community pool, fitness center, and well-maintained grounds, ensuring a comfortable and enjoyable lifestyle. Don't miss the opportunity to make this newly renovated townhouse your own. Experience the best of Paradise Valley living in this modern and stylish residence.

4984 N Yorkshire Loop Prescott Valley, AZ 86314

$799,900
2 Beds
2 Baths
2,253 SqFt
Status Active
MLS # 6734536
Property Type Single Family Residence
Price Type --
Welcome to this 606 Mandalay floor plan home in the highly sought-after Jasper Community. This stunning, energy-efficient single-level home offers better-than-new quality and captures casual elegance from the moment you step inside. The spacious great room features high-volume vaulted and wood-beamed ceilings, custom built-in cabinetry, and a horizontal gas fireplace, perfect for cozy evenings. The gourmet kitchen is a chef's dream with quartz countertops, dual-tone cabinets, double ovens, peek-a-boo windows, a 5-burner gas stove, and a spacious walk-in pantry. Clerestory windows flood the space with natural light, enhancing the inviting atmosphere. The master suite is a true retreat, leading to a luxurious bath with a soaking tub, rain-glass walk-in shower, and a dual sink quartz vanity. The sizable walk-in closet, the only carpeted space in the home. Additional features include a versatile den with custom built-in cabinetry and access to the front courtyard patio, second bedroom with clerestory windows for privacy and a laundry room with storage. The 3-car tandem garage offers ample storage with built-in cabinetry. Outside, the living space extends to a covered back paver patio, raised flower beds, artificial grass, and block wall fencing, creating a perfect space for outdoor enjoyment. As a resident of the Jasper Community, you'll have access to the J Club clubhouse, featuring a pool, restaurant, and club facilities, making it one of the most spectacular community centers in the Prescott area. Don't miss the opportunity to view this exceptional home and experience the best in luxury living.

2296 Roadrunner Road Sedona, AZ 86336

$799,900
3 Beds
2 Baths
1,654 SqFt
Status Active
MLS # 6730196
Property Type Single Family Residence
Price Type --
Designed for those who appreciate a streamlined, efficient layout, this home offers a perfect balance of simplicity and functionality. It provides a low-maintenance lifestyle, ideal for anyone looking to simplify without sacrificing comfort. Short-Term Rental Friendly: Maximize your investment with no HOA restrictions. Energy Efficient: Owned solar panels mean reduced utility costs (APS bill less than $20/month in summer). Corner lot: No neighbors on one side and next to a quiet cul de sac. Outdoor Oasis: Savor red rock views from your beautifully landscaped backyard with patio pavers and debris-resistant gutter screens. Spacious Third Bedroom: Ideal as an artist's studio, in-law suite, or home office, featuring skylights and extra insulation.

18681 E Apricot Lane Queen Creek, AZ 85142

$799,900
4 Beds
3 Baths
3,706 SqFt
Status Active
MLS # 6747326
Property Type Single Family Residence
Price Type --
MOVE IN READY!! Fresh paint inside & out with updated kitchen! Your new backyard is in an entertainer's paradise with a large pool with waterfall and fountain, patio, and plenty of green space to accommodate family, friends and pets!! With lot sizes in new homes getting smaller and smaller, you're gonna love this home that sits on just over 12,000 ft.²! And If you have cars or toys you need to park, look no further! This home features a three car garage, extended driveway, RV gate, and the ability to park an RV or trailer behind the gate with permission from the HOA! Located just a short walking distance to the Queen Creek wash trail system connecting you directly to Desert Mountain and Mansel Carter Oasis Parks, the Sonoqui wash trail, downtown Queen Creek and more!! Welcome Home

9748 E Resistance Avenue Mesa, AZ 85212

$799,900
4 Beds
3 Baths
2,357 SqFt
Status Active
MLS # 6743116
Property Type Single Family Residence
Price Type --
PRICE IMPROVED!! MUST SEE home in the highly desirable neighborhood, Eastmark with OVER $200,000 in builder and homeowner upgrades! (CLICK ''SEE MORE'' BELOW FOR A FULL LIST). Whether you are relaxing or entertaining in your backyard oasis, cooking in your fully equipped chef's kitchen, having the whole family over for the holidays, doing projects in the air-conditioned garage, or just watching the game in front of your fireplace and big screen TV, this luxury home is designed and equipped for every occasion. Come and be part of one of the most desirable Master Planned Communities in all of Arizona with its long list of amenities, parks, disc golf, community events and convenient location near three major highways 101, 202 and the 60. '' CLICK SEE MORE FOR LIST OF UPGRADES''

9019 N 87th Way Scottsdale, AZ 85258

$799,900
2 Beds
2 Baths
1,984 SqFt
Status Active
MLS # 6747249
Property Type Single Family Residence
Price Type --
Motivated Seller * McCormick Ranch Charmer * This beautifully decorated single level home with a tropical courtyard & koi pond, private pool & spa, citrus trees & side patio, has everything you could desire in the best location in Scottsdale! Roof recently coated & new pebble-tech pool surface * Step inside and see the remarkable kitchen with decorative backsplash, white finished cabinets & stainless-steel appliances * Wood tile planks dress out all the high traffic areas & bathrooms * Extra room could be converted to 3rd bedroom * Parks, pools, courts, trails & Lakes that you can enjoy year-round! Kayak in the subdivision lake! Everything close by including baseball spring training, aquariums, hospitals, casino, exquisite dining & shopping too. Short-term rentals are allowed min 30 days.

15226 S 18th Drive Phoenix, AZ 85045

$799,900
5 Beds
3.5 Baths
3,684 SqFt
Status Active
MLS # 6750716
Property Type Single Family Residence
Price Type --
ABSOLUTELY GORGEOUS on an incredible Preserve Lot w/ expansive Mountain Views. This home offers 5 bedrooms, 3.5 Bathrooms a Den, Formal Living & Dining Room. This home boasts a spacious Master Bedroom w/ Sitting Area & Gas Fireplace, a Walk out Deck to view the most Amazing Sunsets! Huge master bath has double sinks, garden tub, walk in shower, and 2 walk in closets. Spacious Kitchen has granite countertops, 42 inch maple cabinets, eat in kitchen, & walk in panty. Spacious Family Room w/contessa stone gas fireplace. Dramatic spiral staircase & open loft makes for a spectacular entry to this executive home. Extensive tiled patio, Pebble Tech Pool w/waterfall, with Backyard Mountain Views! Wood Blinds throughout home. Come see your new home today!

7249 E Roosevelt Street Scottsdale, AZ 85257

$799,900
3 Beds
2 Baths
1,581 SqFt
Status Active
MLS # 6751266
Property Type Single Family Residence
Price Type --
Absolutely stunning, newly rebuilt home! Calling it a remodel would be an understatement; this home has been entirely reconstructed, with no expense spared. EVERYTHING IS BRAND NEW! The property features a circle driveway and a paver patio entryway with a custom Craftsman porch. Upon entering the large open-concept space, you'll be captivated by the stunning engineered wood beam. The expansive kitchen includes double-sided cabinets and a kitchen island with ample storage. The beautiful dining area retains the home's character with a charming fireplace. Upgrades abound, including high-end stainless steel appliances and gorgeous quartz countertops throughout. The home also boasts upgraded large stone tile in all the right places. There are three bedrooms and two bathrooms, each featuring custom tile work in the showers and baths. The master bedroom includes a private exit to the large covered back patio, which features an additional stunning structural beam. The custom-designed diving pool is a highlight, and the low-maintenance backyard is equipped with solar nighttime lighting for both the front and back lawns. The property also includes an RV gate. All design and permits for this new build and reconstruction were approved and signed off by the City of Scottsdale, with plans available. This includes new windows with a warranty, a new roof, a new AC unit and ductwork, synthetic stucco wrapping the house and backyard fence, and new electrical and plumbing systems. The home comes with contractors' warranties and a one-year seller's warranty. Located in South Scottsdale, this property is perfectly situated close to everything. It's an excellent opportunity for anyone seeking zero-maintenance living or an Airbnb investment, with no HOA restrictions.

914 E Mead Drive Chandler, AZ 85249

$799,900
5 Beds
4 Baths
4,608 SqFt
Status Active
MLS # 6752600
Property Type Single Family Residence
Price Type --
Experience luxury in this stunning 5 bed, 4 bath home, now available for immediate sale. Boasting an impressive two-story entry, the home features a gourmet kitchen with a large island, 5 burner gas cooktop, stainless steel appliances, and a butler's pantry. The main level offers a spacious family room, formal living and dining areas, and a bedroom with a full bath. Upstairs, the primary suite includes a versatile sitting area, a lavish bath with a soaking tub, separate shower, dual vanities, and a walk-in closet. Additionally, there are three more bedrooms, one with an en-suite bath, and a large loft. The backyard is perfect for entertaining, featuring an extended patio and turf yard. Conveniently located near Loop 202, shopping, dining, Chandler employers, and top-rated public schools.

23060 E Oriole Way Queen Creek, AZ 85142

$799,900
3 Beds
3 Baths
2,294 SqFt
Status Active
MLS # 6759852
Property Type Single Family Residence
Price Type --
Located on one of the largest homesites in the coveted Barney Farms community, this highly upgraded, original-owner Craftsman-style home offers luxurious family living with 3 bedrooms plus den/flex room and 3 baths in a spacious 2294 SqFt featuring a great room layout and split bedrooms. The gourmet kitchen will delight the home chef with an abundance of upgraded cabinetry (including 42'' uppers, upgraded drawers, hardware, and crown molding), Quartz countertops with upgraded thick edge, stainless GE appliances including a gas cooktop, convection and microwave wall ovens and dishwasher; designer tile backsplash, a large walk-in pantry, and an island with breakfast bar and pendant lighting. 16-foot atrium sliding glass doors lead out from the great room to your dream backyard! You'll love the 560-square foot pool (still under warranty) with Pebble Sheen finish, upgraded Pentair Heat/Cool pump, upgraded filter and commercial grade cover; professional landscaping including easy-care artificial turf for kids and pets to play on, and extended covered patio with ceiling fan and a gas stub for your BBQ. The primary bedroom has access to the backyard, a tray ceiling, and an en-suite bath with dual sink vanity, oversized Marbella spa shower with rain shower and bench, and a walk-in closet with mirrored doors. Other features of this spectacular home include upgraded luxury vinyl plank flooring throughout living areas and baths, upgraded carpet and padding in bedrooms, laundry room cabinets & sink, larger tubs in secondary baths, a water softener, security system, upgraded front door, upgraded lighting and ceiling fans throughout, and a 3 car tandem garage with epoxy floors, hot and cold water faucet, service door to the backyard, extended paver driveway and RV gate. The HVAC system has a parts & labor warranty that is transferable! Barney Farms is a beautiful master-planned community featuring a deep-water lake, acres of parks and green spaces, walking trails, a gigantic 12,293 SqFt surface area pool and clubhouse, play areas, sport courts (including pickleball!), and other great amenities!

18635 W Hazelwood Street Goodyear, AZ 85395

$799,900
4 Beds
2.5 Baths
2,781 SqFt
Status Active
MLS # 6756670
Property Type Single Family Residence
Price Type --
This beautiful home offers a distinctive foyer leading to an oversized great room. The large gourmet kitchen features an expansive island, quartz counters, SS gas range and wall oven (appliances are 2 years old). The home has 4 spacious bedrooms to accommodate all your needs. Large owners' suite with walk in shower, bath tub and dual vanities, Relax in the resort like backyard with covered patio plus a ramada, or cool off in the beautiful pool with limestone decking and water feature. Laundry room with sink and cabinets. Other upgrades and features include new AC unit 2023, water softener and RO system, 10' ceilings, 2 month old carpet in bedrooms, laminate and tile flooring in living areas, window shutters, easy maintenance landscaping, repainted exterior 2023. Convenient 3 car tandem garage with 8 ft doors and RV gate means room for all your toys! RV clean out dump station and 400 amp electric service. The Smart Home includes: oven, pool, AC, garage door, front door lock, landscape. This energy-efficient home will also save you thousands of dollars on utilities

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