#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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15440 W Buckhorn Trail Surprise, AZ 85387

$798,990

4 Beds

3 Baths

2,600 SqFt

Status Active

MLS # 6778696

Property Type Single Family Residence

Price Type --

THIS AZ HOME CHECKS ALL THE BOXES **LAND (1.15 ACRE) ***LOCATION (GROWING AREA)**NO HOA***MOUNTAIN AND AMAZING SUNSET VIEWS**BLOCK FENCED LOT**4 BEDROOM (4TH HAS DOUBLE DOORS GREAT FOR LARGE OFFICE)**4 CAR GARAGE WITH PASSVIEW DOOR TO BACKYARD**CERAMIC TILE THROUGHOUT THE GREAT ROOM FLOORPLAN**GOURMET KITCHEN WITH STAINLESS STEEL APPLIANCES, ISLAND AND WALK IN PANTRY**GARAGE INCLUDES EXTENDED CAR LEGNTH, GARAGE SERVICE DOOR, UTILTY TUB AND WATER SOFTENER**OWNER BATHROOM SUITE WITH EXTENDED HEIGHT CABINETS, DUAL SINKS, LARGE WALK IN TILED SHOWER WITH RAIN SHOWER HEAD, DEEP SOAKING TUB AND SEPARATE TOILET AREA**INSIDE LAUNDRY WITH BUILT IN CABINETRY**EXTENDED COVERED PATIO TO ENJOY THOSE AZ SUNSETS

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1689 E Hearne Way Gilbert, AZ 85234

$798,900

6 Beds

3 Baths

4,049 SqFt

Status Active Under Contract

MLS # 6770614

Property Type Single Family Residence

Price Type --

Beautiful Fully Remodeled 6-Bdrm Multi-Generational Home! This stunning top-quality remodel crafted as sellers Forever Home w/no expense spared! Brand new hi-efficiency AC's, new quartz countertops throughout, upgraded cabinetry w/custom-built-in coffee bar! New flooring every rm, new modern paint, base & trim throughout, app-controlled smart lighting in & out. Remodeled primary Bdrm & bath designed for luxury & functionality! Ideal for multigenerational families or guests! 4,000+ sf offers 6 bdrms, loft & huge bonus rm. Private guest qrtrs w/ seperate garage & entrance, private bdrm, bthrm & kitchenette! Stroll tree-lined walking paths at park-like greenbelt directly across street w game areas & space for families to thrive. Nothing else out there like this under $200sf THIS WONT LAST!

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28864 N 32nd Glen Phoenix, AZ 85083

$798,800

4 Beds

3 Baths

2,375 SqFt

Status Active

MLS # 6681519

Property Type Single Family Residence

Price Type --

BRAND NEW HOME!! ONE OF THE BEST VIEW LOTS IN THE DEVELOPMENT! Here is your chance to buy a move in ready home with NO WAIT TIME. This is the beautiful Aspen Model situated on an amazing lot with awesome views! This 4 bedroom/3 bathroom home is one of the best Lennar floorplans they have. Everything is BRAND NEW including the backyard landscaping. Easy access to the entire valley and close to the new TSM Semiconductor Facility. Gated Community. Builder warranty transfers to new owner. Come take a look at this wonderful home before it is gone!

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1215 E Cambridge Avenue Phoenix, AZ 85006

$798,500

4 Beds

3 Baths

2,415 SqFt

Status Active

MLS # 6730909

Property Type Single Family Residence

Price Type --

Discover luxury in this beautifully remodeled 4-bedroom, 3-bathroom home. The open floor plan welcomes you with a blend of opulence and functionality. The kitchen boasts new stainless steel appliances, quartz countertops and walk-in pantry flowing seamlessly into an open dining and living space. The master offers a private retreat with a walk-in closet and ensuite bathroom evoking spa-like ambiance. Cambridge has an additional ensuite bathroom located off the west-wing bedroom. Both the ensuite and guest bathrooms share the same elevated finishes of the master. Upgrades include a new roof, electrical wiring/panel, laundry room, garage, outdoors pavers, ... and more! Cambridge represents the pinnacle of modern living with its blend of luxury, functionality, and comfort.

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3108 W Ravina Lane Anthem, AZ 85086

$798,000

2 Beds

2.5 Baths

2,542 SqFt

Status Active

MLS # 6752133

Property Type Single Family Residence

Price Type --

Nestled on a premium large lot adorned with lush landscaping, this meticulously maintained home with 12' ceilings offers a serene oasis with birds and butterflies. Enjoy an eco-friendly lifestyle with a state-of-the-art solar panel system—no electric bills and APS credits since 2018! The property boasts numerous upgrades, including a new 16 SEER HVAC system, a 2018 roof, and a fresh exterior paint job in 2024. Step into the gourmet kitchen featuring high-grade granite counters, a new Bosch dishwasher, a new gas stovetop, and swipe-under counter LED lighting. The primary bedroom suite offers a custom-designed closet and an upgraded bathroom with a luxurious walk-in shower. The extended 3-car garage has many features, complete with epoxy-coated flooring, ceiling insulation, temperature-controlled air circulation, storage racks and cabinets, and an EV charging outlet. The home also features a whole-house water treatment and softener system, and high-speed fiber optic 5G digital internet ensures you stay connected. Situated in the award-winning Anthem Country Club, this home comes with access to an array of top-notch amenities, including two golf courses, two clubhouses, two pools, two fitness centers, and two restaurants. Additionally, residents enjoy full access to the extensive amenities of the Anthem master community, offering an unparalleled lifestyle.

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14447 N 100th Way Scottsdale, AZ 85260

$798,000

3 Beds

2 Baths

1,756 SqFt

Status Active

MLS # 6768802

Property Type Single Family Residence

Price Type --

Welcome to this beautifully updated home in the highly desirable North Scottsdale community of Aviara. As you enter the home you are greeted with soaring ceilings, warm travertine style tile, and fresh neutral paint. The living room and dining room are expansive with lots of natural light. The chef's kitchen has granite countertops, new plumbing and lighting fixtures, and new stainless-steel appliances added over the past 2 years. Family room with inviting fireplace and views of the pool and backyard is the perfect place to enjoy a book or movie. As you venture outside, you will enjoy the large heated PebbleTec pool with water feature, a covered patio with ceiling heater, gas firepit seating area and lush tropical landscaping. All this in close proximity to A + schools, great restaurants, endless shopping choices, and some of the best golf courses Arizona has to offer. Welcome to your next Home Sweet Home!

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3219 S Silverberry Court Gold Canyon, AZ 85118

$798,000

2 Beds

2 Baths

2,189 SqFt

Status Active

MLS # 6782393

Property Type Single Family Residence

Price Type --

MOTIVATED SELLERS. SECOND LOWEST PRICED VILLA IN ENTIRE COMMUNITY. IMMACULATELY MAINTAINED. UPGRADED. Coveted and well located in Superstition Mountain Golf & Country Club only 33 freeway miles from Sky Harbor & 20 minutes to Mesa Gateway airport, this exclusive known Lyle Anderson community, 24/7 guard gated w/36 hole of Nicklaus-designed golf, the only true 36 hole private golf & country club in central Arizona. Adjacent to a large common area providing privacy and a quiet environment, this remarkable villa offers the finest in aged distressed authentic wood flooring, open floor plan, Viking appliances, granite counters, 2 fireplaces, & a delightful/amazing large outdoor covered Ramada, w/fireplace, BBQ, misters, artificial turf, refrigerator, & professionally landscaped. Superstition Mountain community is one of the Southwest's finest in planning, architecture, highest quality amenities, serenity & views. One of the largest villa parcels in the community, corner lot with mountain views. Solid core 8' knotty alder doors. Professionally built-out closets. Upgraded cabinetry, double pantry. Breakfast bar. Rinnai tankless hot water. garage cabinets. 9'+ ceilings. Walking distance to fitness center. Golf club membership under separate agreement. Golf club amenities include the only 36-hole private golf & country club in central Arizona, a 50,000sf clubhouse, fine dining, private dining room, bocce ball, fitness center, tennis, pickle ball, heated lap pool and spa. Airport service. Concierge. Residents at Superstition Mountain Golf & Country only have one traffic light separating them from the Atlantic and Pacific Oceans. Arizona's best kept secret. Golf club has hosted 8 nationally televised professional golf tournaments.

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5342 W West Wind Drive Glendale, AZ 85310

$798,000

5 Beds

3 Baths

3,360 SqFt

Status Active

MLS # 6700828

Property Type Single Family Residence

Price Type --

This Charming Family Home is in a Prime Location. Welcome to your dream home. This beautifully 5-bedroom, 3-bathroom house boasts an open floor plan, tiled floors in all the right places, and a spacious backyard oasis. Key features include a spacious kitchen with granite countertops, a luxurious primary suite with a spa-like bathroom, and a cozy fireplace in the family room. Located in the highly desirable Northwood Glen neighborhood, residents enjoy easy access to top-rated schools, local shops, restaurants, and parks. Commuters will appreciate the proximity to major highways and public transit. Don't miss out on this incredible opportunity! Come and see this amazing home today. This 3,360 square-foot home sits on a spacious 0.39-acre lot and features a 3-car attached garage and an RV gate, perfect for storage and parking. Recent upgrades include a new living room, primary suite, and bedroom carpet. Newer house roofing and garage underlayment, an updated shower in the primary bathroom, newer pool cool-deck, pool tiles, pop-outs, pebble tech, and spaw blower

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2530 W Balao Drive Phoenix, AZ 85085

$798,000

4 Beds

2.5 Baths

2,604 SqFt

Status Active Under Contract

MLS # 6746207

Property Type Single Family Residence

Price Type --

Happen to stumble upon a magic lamp recently? Magic is the only way to describe this home...only this took more than 3 wishes. Single story, 4 car garage, pool, OWNED solar, and no neighbors behind, what more can you ask for? At 2,604 sqft this wonder offers 4 bedrooms and 2.5 bathrooms. Key features include soaring 10ft ceilings, 8 ft doors, all tile throughout, epoxied garage with an overheight garage door, surround sound speakers inside and out, owned water softener, tankless gas hot water heater, gas BBQ stub, utility sink stub in garage, and so much more. A Chef's DREAM with a gas cooktop, double wall ovens, granite counters, large island, custom wet bar, and a large walk-in pantry. You're new heated pool pairs well with the Gorgeous views, new Pergola, pavers, 1000psi mister system, pavers, and a gated dog run. This home shows like a Model, is Turn-Key, and has been well cared for over the last few years. Ideally located, this home is minutes from access to the I-17 and the 303, is mere minutes from the new TSMC chip plant, and amazing shopping and dining at the nearby Norterra and Desert Ridge. You can take a quick drive South to downtown Phoenix, or a cool drive up north to Sedona or Flagstaff....the options are endless. This area is booming with lots of growth, without compromising the views and natural beauty.

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23702 S Desert Sands Drive Sun Lakes, AZ 85248

Open House

$798,000

4 Beds

3 Baths

3,373 SqFt

Status Active

MLS # 6758691

Property Type Single Family Residence

Price Type --

This Sun Lakes home is ready for new owners! Located in the highly sought-after gated community of Oakwood you will love the lifestyle this home has to offer! This stunning home has a bright, spacious floor plan with over $30k in upgrades! The downstairs primary bedroom features 2 walk-in closets, a curbless shower, and a separate jacuzzi tub. On the main level you also have a bedroom, full bathroom, and laundry room. Enjoy cooking and entertaining in your open kitchen/living area, with huge island and built-in appliances with custom cabinetry. The backyard is perfect for year round enjoyment with a large covered patio, water feature, fire pit, and private hot tub. Golf enthusiasts will love the proximity to the golf course, club house and all the amazing amenities

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19814 N Shadow Mountain Drive Surprise, AZ 85374

Open House

$798,000

2 Beds

2.5 Baths

2,529 SqFt

Status Active

MLS # 6722995

Property Type Single Family Residence

Price Type --

NEW PRICE & MOVE IN READY!! IMMACULATE HOME W/VIEWS of 14th GREEN & 15th TEE of Desert Springs + MTN & SUNSET VIEWS! Gorgeous 12 x 24'' tile. Kitchen w/custom cabinets & pull-out drawers, granite, & handmade porcelain backsplash. Spa-like Mbath has stunning tiled roll-in shower w/curved wall, rain showerhead + 5 sprayer heads, custom raised cabinets, Onyx sinks, granite, custom mirrors & lights, & raised toilet w/bidet. 2nd bath also upgrd w/granite, enlarged tiled roll-in shower, copper sink, ceiling fan, & raised toilet w/bidet. Den w/built-in cabinets w/storage. Powder rm w/floating vanity, + mother-of-pearl sink & lite. Laundry w/dbl sink, cabinets, closet & counter. 3-car extd garage w/epoxy, cabinets/rack & wkbnch. Extd patio w/BBQ kitchen & epoxy. NEW NEUTRAL PAINT & CARPETING

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16105 N 183rd Drive Surprise, AZ 85388

$797,999

4 Beds

3.5 Baths

3,419 SqFt

Status Active

MLS # 6662982

Property Type Single Family Residence

Price Type --

Discover the perfect blend of comfort and convenience in this meticulously maintained home, nestled in the highly desirable gated community of Surprise Farms. This residence stands out with its unique combination of a spacious 2-car garage plus an impressive 40 ft RV garage, featuring a wall of attached cabinetry and epoxy flooring for unparalleled storage solutions. Boasting a true split floor plan, the home offers dual primary suites on opposite sides, ensuring privacy and comfort, while two additional guest bedrooms provide ample space for family and guests. The heart of the home, the kitchen, is a chef's delight with a custom backsplash, stunning 48-inch cabinets adorned with crown molding, sleek new hardware, and a large island—perfect for gatherings. The kitchen now features double ovens, with the new oven installed in 2022, offering a gas connection option, adding to its functionality and appeal. The great room, accented with a custom reclaimed wood feature wall and newly installed canned lights, creates a warm and inviting atmosphere. Energy efficiency is prioritized with shade screens on every window, a brand-new water heater, and new toilets throughout the home. Outdoor living is elevated with a built-in BBQ, fire pit, artificial grass, and travertine pavers in the backyard, complemented by a covered patio for year-round enjoyment. Practical features include a large walk-in pantry, laundry plus office space, and a main primary suite with custom tile in the shower and fully customized cabinetry in the closet. 35 ft concrete pad behind the gate can fit 2 cars. Located in one of the city's most sought-after master-planned communities, close to shopping, dining, elementary & high school within a mile radius and with children's playgrounds, this home offers both luxury and convenience. Don't miss the chance to make it yours!

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