#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

1014 E Gaffney Road New River, AZ 85087

$795,000

4 Beds

2.5 Baths

2,699 SqFt

Status Active Under Contract

MLS # 6777661

Property Type Single Family Residence

Price Type --

Picture yourself horseback surrounded by mountain views & spectacular sunsets. Experience the true Western vibe that is everything Arizona. This impressive 2.5 acre property is well designed with a 2699sf home, 5 stall mare motel, tack shed, feed storage, wash rack, turn outs & cooled dog shed. Room to ride on your own property. Enter this welcoming home under vaulted wood plank ceilings w/Saltillo tile floors, art nooks & stylish architecture. Isl kitchen flows well w/granite cntrs, brkfst bar, knotty pine cabinets, SS applcs & walk-in pantry. Huge primary w/FP, dbl sinks, sep tub/shwr & patio exit. North facing cvrd patio overlooks picturesque pebble-tec pool & social area, ready for friends, family & BBQ's. End of the road privacy. Newer HVAC's. Private well. Room for toys & trailers!

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4349 E Smokehouse Trail Cave Creek, AZ 85331

New

$795,000

4 Beds

2 Baths

1,782 SqFt

Status Active

MLS # 6781951

Property Type Single Family Residence

Price Type --

*The Blossom of Ocotillo* Looking for your own slice of AZ paradise? This is THE perfect lock and leave! Situated in the private, gated enclave of Ocotillo at Dove Valley Ranch, this home is on a premium lot with optimum N/S exposure overlooking the 12th tee box. You are welcomed inside with vaulted ceilings and a bright and light open floor plan complete with updated 12x60 porcelain tile flooring. Perfectly appointed kitchen remodeled in 2024 boasting quartz countertops, updated appliances, and an extended island. The primary bathroom remodeled in 2024 is sure to delight and relax. Enjoy the AZ outdoor lifestyle in your gorgeous backyard. Pebble tec pool with maintenance-free turf accents the area with lovely desert flora—hiking, golf, dining, and shopping all nearby.

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3691 S Barberry Place Chandler, AZ 85248

$795,000

4 Beds

2 Baths

2,280 SqFt

Status Active

MLS # 6672641

Property Type Single Family Residence

Price Type --

Seller may consider buyer concessions if made in an offer. Welcome home to this charming property In Ocotillo! A rare find, premium WATERFRONT lot! The natural color palette throughout this home creates a warm and inviting atmosphere. The kitchen features a center island and a nice backsplash. Other rooms offer flexible living space to meet your needs. The primary bathroom boasts double sinks and good under sink storage. Step outside to the fenced in backyard where you'll find a private in ground pool and a covered sitting area, perfect for relaxing or entertaining. Enjoy the fresh interior paint that adds a clean and modern touch. Don't miss out on this fantastic opportunity to make this house your new home!

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3438 N 30th Street Phoenix, AZ 85016

$795,000

3 Beds

3 Baths

2,017 SqFt

Status Active

MLS # 6693796

Property Type Single Family Residence

Price Type --

Welcome to this beautifully remodeled home that will not dissappoint! Vaulted ceilings in the main living space greet you as soon as you walk through the door. Major remodel in 2021 including all new flooring, plumbing, kitchen, bathrooms, paint inside and out, windows, AC, tankless water heater, and pool equipment. Enjoy and relax with your family and friends in the private backyard with heated pool. Centrally located, easy access to freeways, Camelback Mountain, Old Town Scottsdale, great restaurants and shops. Parking is available for 4 cars in driveway, additional street parking.

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6673 Gleeson Road Tombstone, AZ 85638

$795,000

3 Beds

2 Baths

2,831 SqFt

Status Active

MLS # 6729535

Property Type Single Family Residence

Price Type --

In order to fully appreciate what makes this home so special, please ask for the supplement.

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4430 E Des Moines Street Mesa, AZ 85205

$795,000

5 Beds

3 Baths

4,014 SqFt

Status Active

MLS # 6715090

Property Type Single Family Residence

Price Type --

This charming residence is nestled in Mesa's Valencia Groves community and offers five spacious bedrooms and three full bathrooms. Positioned on a secluded corner lot with a North/South exposure, this home enjoys privacy and ample natural light. The kitchen features a fantastic layout, ideal for entertaining, and seamlessly opens to the family room. Additional amenities include a convenient downstairs laundry room with a laundry chute. Outside, the backyard is a tranquil oasis, boasting a generous patio, a sparkling pool with a brand new pool filter, and a delightful garden area. Don't miss the chance to make this your new home!

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7447 E Christmas Cholla Drive Scottsdale, AZ 85255

$795,000

4 Beds

3 Baths

2,153 SqFt

Status Active

MLS # 6721056

Property Type Single Family Residence

Price Type --

Welcome to this beautiful home perfectly nestled in the high Sonoran Desert surroundings of North Scottsdale! Gorgeous upgrades throughout combine with a flexible and spacious floor plan to provide you an amazing combination of style and livability! Large expanded gourmet kitchen features slab granite counters, upgraded stainless steel appliances, gas range, center island and large walk-in pantry. The kitchen flows to the great room anchored by built-ins, fireplace and a view to your sparkling play pool! You will also find 4 bdrms (4th could be den/office), dual closets in owner's retreat, huge loft which could easily afford another bedroom, home theater, gym-endless options, renovated baths and all appliances included! HVAC replaced in 2021 and all new irrigation systems front and back!

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2873 E Birchwood Place Chandler, AZ 85249

$795,000

5 Beds

3.5 Baths

4,015 SqFt

Status Active

MLS # 6723653

Property Type Single Family Residence

Price Type --

Welcome home to this stunning 2-story home in Riggs Ranch Meadows. On almost a 1/4 acre, enjoy this private backyard with mountain and water views, a lap/diving pool, and a covered patio. This large back yard borders a unique pond that is lined with large trees and cottonwoods. Custom 18'' tile flooring, new carpet throughout, granite countertops, and travertine backsplash. Kitchen presents custom cabinets with crown molding and rollout shelves. Enjoy two large master bedrooms, one upstairs and one downstairs. All bedrooms have walk-in closets and ceiling fans. 4' extension to a large 3-car garage, workbench, and endless storage. Don't miss out on this great opportunity!!!!

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2366 E Shea Boulevard Phoenix, AZ 85028

$795,000

4 Beds

3 Baths

2,565 SqFt

Status Active

MLS # 6709967

Property Type Single Family Residence

Price Type --

Welcome to your dream home! Nestled in the Desert Vista Community off Shea Blvd, this beautifully remodeled property boasts an inviting backyard oasis complete with a above ground spa. Enjoy the seamless blend of Scottsdale & Phoenix amenities right at your doorstep. The home features a finished versatile attached room for living, rental, hobbies, or staff quarters. Primary Bedroom boasts a resort like stream shower! Don't miss the chance to own this stunning retreat in one of the best locations, where modern updates meet cozy charm. Walking distance to schools. Make this your next move and experience the perfect blend of comfort & convenience! Oh and by the way..interested in hiking, trails and views? This location offers all of that at your doorstep with marked trails in every direction

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2568 W Post Oak Drive Prescott, AZ 86305

$795,000

4 Beds

2.5 Baths

2,438 SqFt

Status Active

MLS # 6726845

Property Type Single Family Residence

Price Type --

Nestled amidst towering trees, this expansive estate offers sweeping views of Granite Mountain & the Prescott National Forest. Set on 2 acres, the residence boasts 4 bedrooms, including a second bedroom with an ensuite. A striking stone fireplace anchors the living area, complemented by a breakfast bar in the gourmet kitchen. The spacious Primary Suite features bay windows w/ a cozy window seat, dual sinks, a large soaker tub, a separate shower, & a walk-in closet. An Arizona room offers a seamless indoor-outdoor experience. Additional highlights include a large laundry room, a bonus partial basement with outside access, a 3-car garage with a workbench area, rolling sunscreens, & ceiling fans throughout. This property epitomizes serene living in a picturesque Prescott setting.

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7009 W Palomino Way Coolidge, AZ 85128

$795,000

5 Beds

2.5 Baths

3,345 SqFt

Status Active

MLS # 6725832

Property Type Single Family Residence

Price Type --

Absolutely stunning home on an oversized lot. This semi-custom home has recently been tastefully updated. Plenty of space inside and out. An entertainer's dream kitchen with large granite island, gas stove and spacious pantry! This home has it all and it is rare that a home like this becomes available. Enjoy mountain views and serene sunsets.

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11656 N 135th Place Scottsdale, AZ 85259

$795,000

3 Beds

2.5 Baths

1,945 SqFt

Status Active

MLS # 6729798

Property Type Townhouse

Price Type --

Beautiful townhome at the base of McDowell Mountains backing to private natural area for extra privacy. Enjoy this view on the patio featuring an electronic awning, firepit, and gas bbq on patio ready for your perfect outdoor experience. Community includes heated pool & spa. Downstairs features a spacious kitchen with Calacatta marble island, glass cabinet inserts, under cabinet lighting, mirror backsplash, and Bosch applicance. Recently updated flooring, remodeled bathrooms, epoxy garage floor, loads of storage. This is the perfect home for full or part time residents. Close to hiking trails, new restaurants, and Mayo clinic. Owner is motivated so bring offers!!

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