#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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6231 E Mark Way Unit 44 Cave Creek, AZ 85331

New

$799,000

2 Beds

2.5 Baths

1,975 SqFt

Status Active

MLS # 6784275

Property Type Single Family Residence

Price Type --

Discover Your Oasis in the Heart of Cave Creek! Welcome to this beautifully maintained home featuring 2 spacious bedrooms and 2.5 baths, along with a versatile den/office. The open-concept living area invites you in, perfect for both relaxation and entertaining. Added efficiency of solar panels for year-round savings. Step outside to your serene outdoor patio, complete with a gas fire pit, BBQ, and a custom water feature—ideal for peaceful evenings under the stars. Located in the sought-after Rancho Madera community, you'll have access to a community center, work out facility, and refreshing pool. Don't miss your chance to experience the best of Cave Creek living! Furnishings available on a separate bill of sale.

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246 N Fraser Drive Mesa, AZ 85203

New

$799,000

3 Beds

2.5 Baths

3,215 SqFt

Status Active

MLS # 6783641

Property Type Single Family Residence

Price Type --

This charming historic home sits on a .38 acre irrigated lot in the desirable Fraser Fields neighborhood. The 3 bed, 2.5 bath main house was renovated extensively in 2023 and features a grand gathering room with stunning newly-vaulted ceilings & wood beams. The remodeled kitchen features new GE Cafe smart appliances, including an induction cook top & double ovens, a wine fridge, hot/cold reverse osmosis, large island, granite counters & ample cabinet space for storage. Smart automated blinds in the great room. Lots of closets and storage space both inside & outside. Out back, the detached structure has a guest/office space, air condition workshop, & 2 large storage closets w/ epoxy floors. The large backyard is a dream space to gather and play. Conveniently located near Downtown Mesa.

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33834 N 43rd Street Cave Creek, AZ 85331

New

$799,000

5 Beds

3 Baths

3,698 SqFt

Status Active

MLS # 6784454

Property Type Single Family Residence

Price Type --

Well maintained home in the gated community of Dove Valley Ranch, priced to sell! This wonderful 5 BR, 3 BA home has a spacious floorplan perfect for family, friends & entertaining. Entry opens to LR/DR and home office, game room or flex space. The expansive kitchen incorporates a 72'' built-in refrigerator/freezer, extensive storage, custom pantry & island. Adjacent Great Room wired for surround sound. The oversized downstairs BR includes a sitting area & adjacent full bath. Upstairs has a bright, oversized Master Suite, 3 secondary BRs & full bath. Rear yard borders open space. Enclosed, air conditioned rear patio is designed for year around use. With minimal cosmetic changes, this home can be a showpiece.

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111 Grove Avenue Prescott, AZ 86301

$799,000

4 Beds

4 Baths

2,300 SqFt

Status Active

MLS # 6695992

Property Type Single Family Residence

Price Type --

Rare opportunity to own one of historic downtown Prescott's iconic Queen Anne Victorians, just up the hill from Courthouse Square. With Business General zoning, 5 parking spaces, gated RV parking, easy street parking and an ADA-compliant ramp, the Rudolph Baehr house is ideal for a live-work lifestyle, two-unit vacation rental (zoned HVAC and water heaters), professional offices, restaurant with huge shaded patio or single family home. Potential to add a garage on the rear alley with additional living space above. Listed on the National Register of Historic Places which keeps taxes low ($912 per year). Baehr was a well-known Territorial photographer and painter who is buried in the Odd Fellow cemetery. Updated for modern living while preserving original details like Eastlake door knobs and stained glass windows, this gracious home features a main level with a large parlor, enclosed Arizona room, eat-in kitchen that opens to the rear patio, butler pantry, bedroom and two baths. Upstairs are three bedrooms, a bath, kitchen and family room. The basement has vast amounts of storage and a dehumidifier. New decorative cedar shingle roof and AC on the main level. A short walk to over 100 shops, restaurants and bars in the downtown entertainment district. Close to Dignity Health, Yavapai College, VA campus, public and charter schools, National Forest trails for hiking and biking.

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2726 N Hannon Ranch Lane Bisbee, AZ 85603

$799,000

5 Beds

4.5 Baths

3,554 SqFt

Status Active

MLS # 6665334

Property Type Single Family Residence

Price Type --

Perched on an elevated, 4.4 acre lot in the Mule Mountains, just minutes from Bisbee, this stunning, custom 5 bed/ 4.5 Bath, 3,554 sq ft. home offers quality craftsmanship & magnificent panoramic mountain views. Beautifully remodeled with new: Anderson windows, roof, deck, doors, flooring throughout, stucco, kitchen, appliances, master bath w/ dual shower, mini-splits, & paint inside & out. Landscaped yard w/ stone patio overlooking the canyon, sunrises, sunsets and stargazing. Step inside to discover an inviting & spacious interior filled w/ an abundance of natural light & majestic mountain views from nearly every window. Open floor plan, expansive and flowing between the kitchen and the great room, 2 en-suite main bdrms, a bonus room, & built out basement all make for wonderful living.

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4380 N Preserve Drive Pine, AZ 85544

$799,000

3 Beds

3 Baths

1,485 SqFt

Status Active

MLS # 6681925

Property Type Single Family Residence

Price Type --

Home with lot next door! Seller is offering 1% of sales price to be used at COE to ''buy down'' the buyers loan interest rate with full price offer. Fully remodeled modern A-frame on a quiet, half acre corner lot in the highly sought after Portal IV community. The spacious wrap-around deck boasts panoramic mountain views, and endless opportunities for al fresco dining and hot tub soaks underneath the twinkling night's sky. The gated community offers seclusion and peace of mind. The sellers purchased the parcel next door and are offering it as part of the sale to protect your views as you desire! Smart appliances and features are noted throughout the home. Sellers are offering the home fully furnished with high-end furniture. Taxidermy does NOT convey.

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9016 S 16th Way Phoenix, AZ 85042

$799,000

4 Beds

3.5 Baths

2,866 SqFt

Status Active

MLS # 6704055

Property Type Single Family Residence

Price Type --

NO HOA, built in 2021 w/ stunning mountain & city views. 4 bed/3.5 bath, 2,850 sqft home on a large lot w/ highly upgraded, modern finishes. Crafted with impeccable attention to detail, this home features a striking custom entry door that opens to a vast, open floor plan designed to maximize both space and comfort. Upon entry, you are greeted by the tall vaulted ceilings, giving the main living area a grand feel. This home is light & bright w/ ample natural light. The kitchen is a chef's dream w/ an abundance of custom white cabinets, granite countertops, back splash, long center island, pantry & modern pendant lights... Entertain guests in the spacious living area, complete with a wet bar. The living room is anchored by a cozy stone fireplace, creating a warm and inviting ambiance. Downstairs, a full bathroom boasts a modern, light-filled design, featuring sleek fixtures. The large primary retreat is located on the main floor w/ a gorgeous ensuite featuring a modern tile floor & shower, upgraded modern fixtures, double sinks, storage shelves, and a large standing tub perfect for relaxation after a long week. Upstairs, 3 spacious bedrooms offer flexible living spaces that can be tailored to your lifestyle needs such as a home office, gym, craft room, children's rooms, or guest room. The front and back yards are beautifully landscaped. A newly installed block wall fence in the backyard ensures privacy. Located off a cul-de-sac, the home offers spectacular views of the mountains and the cityscape, providing a breathtaking backdrop for both everyday live and gatherings. This home includes 2-car garage & owned water softener system. This home is equipped w/ foam insulation throughout, providing added energy efficiency and comfort. Conveniently located near popular hiking trails, restaurants, and more!

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7117 N Sarival Avenue Litchfield Park, AZ 85340

$799,000

4 Beds

3 Baths

2,975 SqFt

Status Active

MLS # 6681317

Property Type Single Family Residence

Price Type --

Welcome home! Discover this enchanting 4-bedroom home nestled on a sprawling 1-acre lot in peaceful Litchfield Park. Only 1/2 a mile from Dunn's Arena this is a beautiful Horse property with irrigation. The back yard is complete with 40 x 60 pole barn, Tack Shed, and a Horse wash. A great place for a home based business, with ample covered truck, trailer or RV/Boat parking. Downstairs is a finished basement, where exposed wood beams add character and ample space. With a Brand new roof and LVP flooring installed this year this an amazing opportunity. Don't miss out! Outside, the massive backyard is a dream, complete with a chicken coop, storage sheds, and a carport, offering endless possibilities for personal touches. This property is a true serene haven, ready to be your home sweet home. Don't miss the chance to make it yours!

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3732 E Desert Cove Avenue Phoenix, AZ 85028

$799,000

5 Beds

3 Baths

2,394 SqFt

Status Active

MLS # 6693657

Property Type Single Family Residence

Price Type --

Indulge in the sheer magnificence of this enchanting abode nestled within the serene confines of the Shea Foothills Community. Revel in the opulence of this splendidly crafted sanctuary boasting five bedrooms and three lavishly appointed bathrooms. Every detail meticulously attended to, leaving no aspect untouched in this immaculate haven. Step into a culinary oasis with a brand-new kitchen adorned with exquisite quartz countertops and bespoke custom backsplashes, an epitome of sophistication. Luxurious designer accents adorn every corner, elevating the ambiance to one of sheer elegance, ensuring a seamless transition into your new haven.Outside, a paradise awaits, reminiscent of a five-star resort. Bask in the splendor of a sprawling backyard oasis, featuring a glistening pool to refresh on hot summer days, a putting green to refine your golfing skills, and a shaded BBQ area for alfresco dining experiences. As if that weren't enough, an esteemed Traeger Grille stands ready to elevate your culinary adventures. Nestled in a tranquil neighborhood, yet conveniently located close to PV, indulge in the ease of access to shopping, dining, and entertainment options. With proximity to the renowned WM Open, Scottsdale Airport, Loop 101, and SR51, convenience meets luxury seamlessly in this unparalleled location. Embrace the opportunity to make this exquisite residence your own - an oasis of tranquility and luxury awaits, ready to welcome you home.

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7355 E Eagle Feather Road Scottsdale, AZ 85266

$799,000

2 Beds

2 Baths

2,001 SqFt

Status Active

MLS # 6714189

Property Type Single Family Residence

Price Type --

Gorgeous Serenity floorplan featuring an expansive great room, gas fireplace, opens to the kitchen with a breakfast bar. Oversized kitchen with many cabinets, kitchen island & a pantry. Primary suite, second bedroom & office/den have wood floors. Primary suite features views out to the spacious sunny south backyard. Office can easily hold a murphy bed or sleeper sofa along with a desk set or use as a flex space. Close to the clubhouse and an exclusive interior location within Winfield. Winfield is a resort community with a heated pool with lap lanes, a fitness center w/ weights & work out equipment, aerobics room, billiards, sauna, therapy spa. 8 lit tennis courts (2 are clay), & pickleball courts. There are many social and recreational groups.Walking, biking & hiking trails in Winfield

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2284 N 161st Avenue Goodyear, AZ 85395

$799,000

4 Beds

3.5 Baths

3,634 SqFt

Status Active

MLS # 6715410

Property Type Single Family Residence

Price Type --

Introducing a beautiful 4-bed, 3.5-bath property in the coveted Community of Palm Valley! This beauty flaunts a well-maintained front yard with trees, green turf, a 3-car garage, an RV gate, and a gated courtyard. Fall in love with the exquisite interior, highlighting a welcoming foyer that leads to the spacious living areas that are excellent for hosting and entertaining guests. The home exudes elegance with its tray ceilings, plantation shutters, accented walls, recessed & chic light fixtures, and wood-plank tile flooring. The heart of this home is the immaculate eat-in kitchen, equipped with an electric cooktop, a farmhouse sink, and double wall ovens. Plenty of white cabinetry with crown molding, a walk-in pantry, gleaming granite counters, a captivating tile backsplash, and a sizable island with a breakfast bar elevate the space. Discover a generous den with attached shelves and a bonus room with a double-door entry! Grand main suite is a sanctuary, featuring a sitting area, a full ensuite with dual vanities, and a large walk-in closet. Secondary bedrooms enjoy a Jack & Jill bathroom, plush carpeting, and walk-in closets. Escape to the backyard paradise that invites you to unwind and have fun! A covered patio, pavers, palm trees, a verdant lawn, RV parking, and a crystal blue pool complete the picture. Experience the grandeur that awaits in every corner of this remarkable residence!

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6192 S Claiborne Avenue Gilbert, AZ 85298

$799,000

4 Beds

2.5 Baths

4,224 SqFt

Status Active

MLS # 6750792

Property Type Single Family Residence

Price Type --

This meticulously maintained home in the coveted Shamrock Estates community offers the perfect blend of space, comfort, and style. Oversized rooms throughout with ample storage - ideal for growing families or those who love to entertain. Expansive open-concept living area. Dedicated home office - perfect for remote work. Formal dining room for special occasions. Gourmet kitchen with granite countertops, prep island, matching appliances, oversized walk-in pantry, HiTop breakfast bar and eat in area. Head upstairs to the spacious primary suite with oversized walk-in closet, large bathroom featuring dual vanities, soaking tub and separate shower. Three additional generously sized bedrooms with ample closet space and large 2nd bathroom. Spacious 3 car garage.

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