#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

3840 S Peden Drive Chandler, AZ 85248

$799,000

5 Beds

3 Baths

3,437 SqFt

Status Active

MLS # 6772184

Property Type Single Family Residence

Price Type --

Royal 5BD/3BA house with 2 way staircase, Gas Fireplace, 3 car garage, travertine flooring, brand new Natural grain hybrid laminate flooring, Full Size Pool & and oversized Turf Backyard. Brand new Air Conditioners, new cool deck paint, new house paint. The House features a spacious Loft with picturesque views of the house and an enormous Bonus Room with Double Door Entry. Fresh Dual Tone Paint, Stainless Steel Appliances, Trendy black countertop and white cabinets, New Upgraded Light fixtures and ceiling fans with light kits. The house is filled with Architectural Details, Niches & an oversized Travertine and granite Medallion. All new front and back yard Turf. Prime location in prestigious Ocotillo. Best school district,Close to shopping, restaurants hospital & freeways.

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23302 N 40th Place Phoenix, AZ 85050

$799,000

3 Beds

2.5 Baths

2,236 SqFt

Status Active

MLS # 6772645

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This beautifully appointed 3-bedroom, 2.5-bathroom residence features a versatile den/office, perfect for remote work or study. Nestled in a sought-after area, this property offers the ideal blend of comfort, style, and outdoor living. The gorgeous, open kitchen is equipped with stainless steel appliances, ample cabinetry, and a generous island, making it perfect for cooking and entertaining. Retreat to the spacious master suite, complete with an en-suite bathroom featuring double sinks, a soaking tub, a separate shower and a large walk in closet. Two additional bedrooms provide comfort and privacy for family or guests. Step outside to your private backyard oasis, where you'll find a sparkling pool, built-in barbecue, and a cozy gas fire pit—perfect for entertaining or relaxing under the stars. Located in a highly desirable neighborhood, this home is close to top-rated schools, parks, shopping, and dining options, ensuring convenience at your fingertips. Don't miss out on the opportunity to own this exceptional home that combines luxury and functionality.

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3642 N 31st Street Phoenix, AZ 85016

$799,000

2 Beds

2 Baths

1,944 SqFt

Status Active

MLS # 6781643

Property Type Single Family Residence

Price Type --

Welcome to your new home! This very private Spanish style Villa is located in between Arcadia and the Biltmore. Ceramic Saltillo Tile floors in the living room and dining area, and wood floors in the primary bedroom and media room. Beautiful Spanish tile work throughout the house and in both bathrooms. Stained glass windows in the media room, stained glass ceiling fans in living area. Custom cabinets in the kitchen, with full range oven. Pebble tec pool in backyard along with built-in BBQ in island, and redwood patio. Great house for entertaining guests, and minutes from Sky Harbor airport, Scottsdale, Tempe, and Downtown Phoenix.

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701 W Windsor Avenue Phoenix, AZ 85007

New

$799,000

5 Beds

3 Baths

2,140 SqFt

Status Active

MLS # 6783117

Property Type Single Family Residence

Price Type --

Stunningly remodeled bungalow right next to the beautiful Encanto park and golf course, offering 5 bedrooms and 3 baths with a spacious, open floor plan and brand new floors throughout. The chef's kitchen features custom shaker soft-close cabinetry, gleaming Quartz countertops, a striking herringbone-tiled backsplash, and stainless steel appliances. Two luxurious primary suites with walk-in closets provide ultimate comfort and privacy. Thoughtful split floorplan with the option to separate the 2-bedroom casita with its own private entrance, ideal for guests or additional rental potential. Designed for outdoor living and entertaining, the park-like backyard boasts an expansive patio, perfect for gatherings. Additional highlights include two-car parking at the front, privacy hedges surrounding the property, and a brand-new automatic sprinkler system. Situated in a prime location near downtown Phoenix, you'll enjoy easy access to fine dining, shopping, sports events, and more. Don't miss your chance to own in the highly sought-after Encanto neighborhood!

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22900 W Hylton Way Congress, AZ 85332

$799,000

3 Beds

3.5 Baths

4,364 SqFt

Status Active

MLS # 6781879

Property Type Single Family Residence

Price Type --

HORSE PROPERTY! 4.24 ACRES. NO HOA! Fenced in on 3 sides. Double gate & single gate entering through the back of the property. One owner. Lots of room for your horse setup. Located in a quiet community. Easy access to Wickenburg & Prescott. Relax on the covered wrap around porch. Security system. Open floor plan. Kitchen, dining and living room are all open for lots of entertainment. Relax by the fireplace while enjoying the built-in wet bar. Large master bedroom w/large walk-in closet & his & hers full bath. 2 offices. Full basement w/power, great for storage. Leave the 3 custom metal doors for nice evening breeze. Large, oversize workshop/garage. Solar panels & solar hot water heater. Full RV Hookup. New roof on home and workshop. Property to be sold with most furnishings .

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13326 W Blue Bonnet Drive Sun City West, AZ 85375

$799,000

3 Beds

3 Baths

3,263 SqFt

Status Active Under Contract

MLS # 6722052

Property Type Single Family Residence

Price Type --

A luxurious single-family home on a prime lot overlooking Briarwood Country Club golf course. This gem features 2 main bedrooms with ensuites, vaulted ceilings, and panoramic golf course and mountain views. The expansive 1000+ sq ft main suite boasts a kitchenette, walk-in closet, dual shower heads, dual sinks, and vanity. Enjoy the stunning pool with multiple light designs and an electric retractable cover. Recent updates include can lights, plantation shutters, and high-end tile floors. The updated kitchen offers granite counters and stainless steel appliances. The spacious back patio with travertine tile includes covered and open areas, perfect for entertaining. The extra-wide garage has space for a golf cart. Located in the desirable 55+ active adult community of Sun City West.

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7514 E Oasis Circle Mesa, AZ 85207

$799,000

4 Beds

3 Baths

2,536 SqFt

Status Active Under Contract

MLS # 6737114

Property Type Single Family Residence

Price Type --

PRICED TO SELL!! GORGEOUS REMODELED HOME in gated LAS SENDAS Master Planned Subdivision! QUALITY BUILT BY BLANDFORD HOMES and meticulously maintained by original owner! HIGHLY UPGRADED AND UPDATED featuring 4 Bedrooms plus Office, 3 Baths, 3-car garage, on LARGE Cul-de-sac lot. Resort like backyard: fireplace, built-in BBQ, custom firepit with matching gabion seatwall, 12x12 gazebo, Pebble Tech Pool with built-in fountains and rock waterfall. New poolvac makes cleaning a breeze! Light and bright with soaring ceilings in entry. Recently painted exterior and roof with new flat concrete tiles and upgraded premium underlayment. Both HVAC systems were replaced with Trane efficient condenser units, including new air handlers in attic. Huge primary suite boasts new mesquite hardwood floors, remodeled primary bath with beautiful custom cabinets, and a private 10x20 walk-out deck! Upgraded Italian porcelain floors and Venetian plaster walls downstairs. Ground floor office with beautiful wood floors and built-in cabinetry. Kitchen has brand new butcher block island and new black island cabinets with a built-in wine chiller! All newer upgraded SS and black kitchen appliances including Dacor refrigerator with fresh food drawer!! Designer window treatments throughout! You will love the custom built tortoise enclosure for the desert tortoise Buster with a second burrow to accommodate a second tortoise. 7 Fruit trees + garden. MUST SEE!!!

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27638 N 45th Way Cave Creek, AZ 85331

$799,000

6 Beds

3 Baths

3,203 SqFt

Status Active Under Contract

MLS # 6740357

Property Type Single Family Residence

Price Type --

Don't miss out on the opportunity to make your dream home a reality! This exquisite 6-bed, 3-bath residence is a haven of luxury and convenience. Boasting a 3-car garage, RV gate, and enchanting desert landscape, it's the epitome of upscale living. The interior of this home is inviting and comfortable, with a welcoming living room featuring a bay window and elegant wood flooring. The cozy family room is sure to be a favorite spot for intimate gatherings, while the formal dining room sets the stage for memorable dinner parties. Overall, this dream home seems to offer everything one could desire for comfortable and stylish living. The combination of practical features and elegant touches makes it truly irresistible. The backyard is a paradise, displaying a full-length covered patio, built-in BBQ, spa, and refreshing pool. Unwind on the balcony with stunning mountain views. Make this gem yours today!

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8084 E Del Laton Drive Scottsdale, AZ 85258

$799,000

3 Beds

2 Baths

1,938 SqFt

Status Active Under Contract

MLS # 6759220

Property Type Single Family Residence

Price Type --

Welcome to this meticulously maintained and spacious patio home located in the heart of McCormick Ranch. This stunning home offers a perfect blend of comfort, style, and privacy. The lush and private patio is an oasis, ideal for entertaining, relaxing, or enjoying Arizona's beautiful weather. Inside, you'll find a thoughtfully designed split floor plan with generous living spaces and elegant finishes. The Primary suite provides a peaceful retreat, while the additional bedrooms offer flexibility for guests or a home office. This home has been lovingly cared for and is move-in ready, with updated features and an easy, low-maintenance lifestyle. Enjoy access to the McCormick Ranch community amenities, including scenic walking and biking trails, parks, and nearby shopping and dining. Don't miss this rare opportunity to own a beautiful patio home in one of the most coveted locations in Scottsdale!

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7622 E Via Del Sol Drive Scottsdale, AZ 85255

$799,000

2 Beds

2 Baths

1,795 SqFt

Status Active Under Contract

MLS # 6760743

Property Type Single Family Residence

Price Type --

Step into this stunning 1,795 sq ft Grayhawk home in North Scottsdale's coveted Sonoran Hills neighborhood. Featuring an open floor plan with 12-foot ceilings, the home offers two bedrooms, an office, and two bathrooms. The gourmet kitchen boasts stainless steel appliances, a 48-bottle wine fridge, and a granite island/breakfast bar. A large sliding glass door opens to a resort-style backyard with a heated private pool, built-in BBQ grill, and outdoor TV. The fully enclosed sunroom offers additional relaxation space. With two 50 AMP EV chargers, a spacious front porch to enjoy Arizona sunsets, and a hot water recirculating pump, this home offers luxurious living at its best. Close to restaurants, shopping, golf courses, hiking trails and more. Don't miss this rare find opportunity!

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7787 E Via Casta -- Scottsdale, AZ 85258

$799,000

3 Beds

2 Baths

1,969 SqFt

Status Active Under Contract

MLS # 6780558

Property Type Single Family Residence

Price Type --

This updated home within the gated Meridian Community features 3 bedrooms, 2 bathrooms, and a host of modern upgrades, including stylish quartz counters, new flooring, and fresh paint throughout. The family room boasts high ceilings with new large windows and sliding doors, filling the space with natural light. The kitchen is a chef's delight with quartz countertops and ample cabinet space. The primary suite is complete with a spacious walk-in closet and a luxurious en-suite bathroom. Additional bedrooms are perfect for family or guests. The backyard offers a quiet private patio & low-maintenance landscaping. Plantation shutters and mechanical window/door screens will help keep you cool and your electric bill down all summer. A perfect lock & leave or primary residence, ready for move in! Meridian is a gated community located within the desirable McCormick Ranch. You'll enjoy access to scenic walking and biking paths, golf courses, and parks. Plus, it's close to top-rated schools, shopping, dining, and entertainment.

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7813 E Foxmore Lane Scottsdale, AZ 85258

$799,000

2 Beds

2 Baths

1,487 SqFt

Status Active

MLS # 6772779

Property Type Townhouse

Price Type --

Step into this beautifully remodeled 2-bedroom, 2-bathroom home in the highly sought-after McCormick Ranch community, where every detail exudes style and sophistication. The open floor plan showcases soaring vaulted ceilings, filling the space with natural light and creating an airy, expansive feel. Luxurious wide wood tile planks flow throughout the home, leading you to the sleek wet bar—perfect for entertaining guests or enjoying a quiet evening at home. The gourmet kitchen is a chef's dream, featuring elegant white shaker cabinets, high-end stainless steel appliances, a drawer microwave, and an island adorned with stunning Calacatta Laza Quartz waterfall countertops. Whether you're preparing a feast or hosting friends, this space is designed for both beauty and functionality. The - serene primary suite boasts a massive walk-in closet and a spa-like bathroom, complete with a huge walk-in shower, double vanity with backlit mirrors, and premium finishes throughout. The second bedroom offers its own beautifully appointed bathroom, ensuring both comfort and privacy for guests. Outside, the low-maintenance backyard is a private oasis, featuring lush turf and drought-tolerant landscapingperfect for effortless outdoor living. This home truly has it all: vaulted ceilings, a wet bar, modern upgrades, and a prime location in McCormick Ranch. Don't miss your chance to own this incredible home!

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