#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

26215 N 43rd Avenue Phoenix, AZ 85083

Open House

$785,000

3 Beds

2.5 Baths

2,775 SqFt

Status Active

MLS # 6760236

Property Type Single Family Residence

Price Type --

Step into this exquisite 3BR+den/office 2.5BA sanctuary, perfectly oriented on a 12,387sqft corner lot w/breathtaking Mtn views.Every detail of this home exudes elegance-from the 2020 remodel featuring all new flooring, a chef's kitchen w/custom cabinetry, premium countertops,fixtures& appliances, to the spa-like primary suite w/extended shower, slipper tub & lavish walk-in closet.Entertain in style on the 2023 extended patio,complete w/cover, lighting, fan,misters &gas stub for your dream outdoor kitchen.The 4car garage is a car enthusiast's delight w/epoxy floors, built-ins, 220V+2EV chargers &60amp panel.A/C & water heater updated in 2021.Discover luxury living in this private oasis w/RV gate,huge side yard w/custom fence&gate that offers privacy; removalable for open layout if wanted.

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1623 E Hidalgo Street Apache Junction, AZ 85119

$784,999

4 Beds

3 Baths

2,636 SqFt

Status Active

MLS # 6740402

Property Type Single Family Residence

Price Type --

Just over 3/4 of an acre NON HOA home in Superstition Mountain Estates is nestled against the back drop of the majestic Superstition Mountains! Featuring 4 bd, 3 bath & 3 car garage this home epitomizes luxury living! Upon entering you will find 10-ft ceilings, 8 ft doors, recessed lighting creating a very open feel. The open floor plan seamlessly blends the living, dining & kitchen area creating a very inviting and spacious environment perfect for both entertainment and everyday life. The modern kitchen boasts with stainless steel appliances, granite countertops & an expansive island, making it a chef's dream! Large dual pane windows throughout home allowing for natural light & offering breathtaking views! Master suite features an extra large room, shower, walk in closet & soaking tub!

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21949 E Twin Acres Drive Queen Creek, AZ 85142

$784,990

4 Beds

3 Baths

3,024 SqFt

Status Active

MLS # 6766345

Property Type Single Family Residence

Price Type --

Madera West estates is conveniently located to all that Queen Creek has to offer. Minutes from the brand new Costco, Schnepf Farms, Queen Creek Market Place and the Queen Creek Olive Mill.

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14209 N Ashbrook Drive Fountain Hills, AZ 85268

$784,900

3 Beds

2 Baths

1,505 SqFt

Status Active

MLS # 6696716

Property Type Townhouse

Price Type --

Experience the pinnacle of Fountain Hills living in this meticulously renovated 3- bedroom, 2 -bathroom twin home. Revel in the Arizona sunshine in your backyard oasis, featuring a beautiful spool, a putting green for leisure, and a spacious covered patio with built-in-BBQ, perfect for entertaining, Arizona room with A/C. This residence seamlessly blends modern aesthetics with comfort, providing an inviting retreat in the heart of Fountain Hills.

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7818 E Northland Drive Scottsdale, AZ 85251

$784,900

3 Beds

3 Baths

2,400 SqFt

Status Active

MLS # 6746948

Property Type Townhouse

Price Type --

BRAND NEW AC! Welcome to your dream turn-key home, perfectly situated for both convenience and relaxation in the Historic District of Villa Monterey! This stunning property offers views of the Iconic Camelback Mountain, and with arts and culture at your fingertips, this neighborhood attracts older clientele with youthful spirits. Nestled near Fashion Square and Old Town Scottsdale, a vibrant mix of restaurants, nightlife, and shopping awaits. Step outside to discover a huge, quiet, and private oasis perfect for entertaining, gardening, or simply unwinding in your own secluded space. Inside, the home boasts beautiful upgrades throughout, including a new roof, full exterior paint, new dual pane windows throughout, and French doors. Please see document tab for a full list of upgrades

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3896 Twisted Trail Prescott, AZ 86301

$784,900

3 Beds

3 Baths

2,750 SqFt

Status Active Under Contract

MLS # 6720861

Property Type Single Family Residence

Price Type --

Discover the essence of Southwest charm in this Santa Fe style home nestled in the Yavapai Hills subdivision. Revel in breathtaking views from the spacious Trex deck offering an ideal setting to enjoy Arizona's stunning sunsets. The views are the star of the show with expansive windows bathing the home in natural light. The courtyard entry welcomes you into a spacious interior with mission style cabinets and Southwest tile accents. A studio space with adjoining bathroom, offers flexibility for creative pursuits or additional living needs. This timelessly designed home offers a perfect blend of Santa Fe charm and contemporary living. Whether you seek tranquility or love to entertain, this home offers a unique opportunity to experience the essence of Southwest living at its finest.

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22634 N 43rd Place Phoenix, AZ 85050

Open House

New

$784,900

4 Beds

2 Baths

2,035 SqFt

Status Active

MLS # 6782363

Property Type Single Family Residence

Price Type --

Gorgeous home in Desert Ridge! Offering 4 beds, 2 baths, lush desert landscape, & a 2-car garage w/storage area. Home exudes elegance with plantation shutters, archways, neutral paint, tons of natural light, tile floors in common areas, and carpet & laminate floors in bedrooms. You'll LOVE the formal living/dining room & an open-concept family room! The gourmet kitchen has granite tile counters/backsplash, recessed lighting, ample wood cabinetry, center island, and sleek SS appliances w/wall ovens & cooktop gas. The main bedroom boasts a walk-in closet and a lavish ensuite with dual sinks & a large shower. PLUS! Brand-new Trane 5Ton HVAC & Paid Solar System! Laundry room w/extra space for office. Enjoy the entertainer's backyard with a covered patio & a sparkling pool/spa combo! Just WOW! Interior bedroom door entryways have been raised 12 in height to 8 feet!

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15438 W Christy Drive Surprise, AZ 85379

$784,790

5 Beds

3.5 Baths

3,750 SqFt

Status Active

MLS # 6771614

Property Type Single Family Residence

Price Type --

Discover this exquisite 5-bedroom, 3.5-bathroom residence, perfectly nestled within a private gated community. With a spacious split-floor plan, this home offers a 3-car garage and a beautifully landscaped yard, complete with a sparkling heated pool and spa featuring a soothing waterfall—ideal for both relaxation and entertaining. The large, gourmet kitchen boasts custom granite countertops, elegant Mastercraft cherry burgundy cabinets, and a walk-in pantry, offering both style and ample storage. The expansive primary retreat includes a luxurious en-suite with a separate tub and shower, and a spacious walk-in closet. A secondary en-suite could easily be converted into a private mother-in-law suite for added convenience. This home has been meticulously maintained and thoughtfully updated

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3740 E Page Avenue Gilbert, AZ 85234

$784,490

4 Beds

2.5 Baths

3,026 SqFt

Status Active

MLS # 6747961

Property Type Single Family Residence

Price Type --

This exceptional home sits on a spacious 10,000+ sq. ft. corner lot and offers over 3,000 sq. ft. of living space with a 3-car garage. The main level features bright and open living areas, along with the master suite for added convenience. Upstairs, you'll find three generously sized bedrooms and a versatile game room or office. This home is packed with upgrades, including a brand-new roof, updated AC units, new windows, fresh carpet, stylish shutters, and refreshed kitchen and bathrooms. The backyard is perfect for entertaining, with a large grassy area, a revamped pool surrounded by a travertine patio, a hot tub (which can convey with the house if interested), and a covered patio equipped with a swivel TV mount—ideal for catching the game from anywhere in the yard. Inside, there's a detached bar in the living room, which can also convey with the home if desired. Additionally, the sellers were grandfathered into an exclusive solar program that keeps their energy bills low year-round. Inquire for more information about this unique benefit.

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18221 E Paria Canyon Drive Rio Verde, AZ 85263

$784,012

2 Beds

2 Baths

1,761 SqFt

Status Active

MLS # 6721834

Property Type Single Family Residence

Price Type --

Come take a look at this brand-new stunning home in Trilogy at Verde River. The Acacia layout boasts 2 bedrooms, a den, and a spacious great room. The kitchen features beautiful Alder Shaker Cabinets, Calacatta Jubilee Quartz Countertops, and high-end stainless steel appliances. The great room offers a 15' Multi-slide door and upgraded tile flooring. The primary suite has a luxurious ensuite with dual sink vanity, framed mirrors, a tiled shower, and a walk-in closet. Additional features include a 4' garage extension, a patio with pavers, and an upgraded bay window in the primary room. The amenities at Verde River are World Class with Tom Lehman inspired eighteen-hole Golf course, tennis courts, pickleball courts, and bocce ball, heated lap pool and Resort style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails.

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13281 N 71st Drive Peoria, AZ 85381

$784,000

5 Beds

3.5 Baths

3,169 SqFt

Status Active Under Contract

MLS # 6713311

Property Type Single Family Residence

Price Type --

Discover unparalleled luxury living in this exquisite TW Lewis home, boasting 5 bedrooms, 3.5 bathrooms, and a sprawling 17,431 square foot lot. With over 3100 square feet of meticulously designed living space, every detail of this residence exudes sophistication and comfort. The downstairs primary suite has a double door entry, wood floors, and features a beautifully remodeled bathroom complete with a lavish walk-in shower, alongside a spacious walk-in closet for added convenience and storage. Entertain with ease in the formal living and dining areas, or gather in the breakfast room and great room, seamlessly connected to the gourmet kitchen. Equipped with stainless steel appliances, double wall oven, built-in microwave, beverage cooler, and granite countertops, this kitchen is a culinary enthusiast's dream. Adjacent to the kitchen, you'll find a spacious laundry room with a utility sink, cabinets, and room for an additional refrigerator, providing ample space for organization and functionality. Upstairs, four generously sized secondary bedrooms await, along with a full bathroom and a jack-and-jill bathroom, offering comfort and privacy for family and guests alike. Step outside to your private oasis, where luxury meets recreation. The outdoors features a 3-car garage with cabinets, an extended height RV gate with ample parking space, and a resurfaced pickleball court for active entertainment. Relax and unwind in the sparkling pool or indulge in outdoor dining at the step-down built-in BBQ area. The massive resort-like backyard offers a covered patio, huge grass area, 3-hole putting green, and a drop-in hot tub, providing the perfect setting for outdoor enjoyment and relaxation. This exceptional property epitomizes luxury living at its finest, offering an unparalleled lifestyle with amenities that cater to every desire. Don't miss the opportunity to make this stunning residence your own and experience the epitome of luxury living firsthand.

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3132 W Blue Eagle Lane Phoenix, AZ 85086

$784,000

4 Beds

3 Baths

2,812 SqFt

Status Active

MLS # 6742704

Property Type Single Family Residence

Price Type --

Absolutely stunning custom build! Amazing views and very private - situated on over an acre with private well! 4 bedrooms and 3 bathroom PLUS bonus rooms! Spa-like primary suite including indoor sauna! All furnishings included. Kitchen features custom cabinets and double fridge, built with luxury and functionality in mind! Step onto the full length patio that overlooks the mountains to the north. The backyard is a blank slate for resort style pool and finishes. An oversized septic tank was installed to make expansion on the house easy if you desire (drawings made for future casita plan). Would make an incredible forever home or is ready to go as a STR. This will not last!

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