#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

3821 E Monterosa Street Phoenix, AZ 85018

Open House

$780,000

3 Beds

2 Baths

1,514 SqFt

Status Active

MLS # 6747071

Property Type Single Family Residence

Price Type --

HUGE PRICE REDUCTION !!! $ 70,000 !!! A 3 bedroom 2 bath block construction home with a resurfaced pool, huge grass backyard with entertainment covered ramada with electric & storage shed. The original carport has been converted to a large bonus room and currently being used as a 4th bedroom. The Central air & heating system are ducted into this room and buyer to verify square footage ... This area is prime for investors who have been building new homes !

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29714 N 23rd Lane Phoenix, AZ 85085

Open House

$780,000

4 Beds

3.5 Baths

2,854 SqFt

Status Active

MLS # 6749185

Property Type Single Family Residence

Price Type --

Experience the epitome of modern living in this bright and open two-story masterpiece, showcasing stunning designer features throughout. The spacious 3-car tandem garage complements the functional layout, which includes a private study and an inviting loft. The gourmet kitchen is a chef's dream, featuring Silestone countertops, recessed panel maple cabinets painted in Linen, and top-of-the-line stainless steel KitchenAid appliances. The 42'' ultra-modern gas fireplace in the Great Room adds a touch of elegance, while the expansive multi-slider glass door seamlessly connects the indoors to the extended covered patio, perfect for entertaining. On the main level, you'll find a stylish executive office, perfect for working from home, along with a conveniently located powder room for guests. Upgraded flooring, including 12''x24'' wood-look tile and plush carpeting, elevates the home's luxurious feel, while 8' doors and two-tone paint create an airy, sophisticated ambiance. The master suite offers a serene retreat with a frosted glass barn door leading to a spa-like bath, complete with executive height vanities and Silestone countertops. This Energy Star-certified home is designed for comfort, energy efficiency, and environmental sustainability, boasting OWNED SOLAR and additional electrical upgrades for modern convenience. Outside, the Sierra Blend pavers and Belgard Hardscapes add curb appeal, while the recessed lighting on the extended patio sets the perfect mood for outdoor gatherings. Don't miss the chance to own this impeccably designed, move-in-ready home that blends style, functionality, and sustainability in every detail!

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22701 E Lords Way Queen Creek, AZ 85142

$779,990

6 Beds

5.5 Baths

4,142 SqFt

Status Active

MLS # 6744478

Property Type Single Family Residence

Price Type --

Welcome to Ashton Wood's highly sought-after Diamond floor plan, showcased in the chic Farmhouse exterior. This spacious 4,127 sq-ft home features 6 generously sized bedrooms, 5 1/2 bathrooms, and a 3-car tandem garage. On the main floor, you'll find a sunlit office, a convenient powder room, and a guest bedroom with a full bath, perfect for multi-generational living or guests. The gourmet kitchen showcases built-in stainless steel appliances, 42'' white shaker cabinets, elegant Crisp Stria Quartz countertops, and a stylish tiled backsplash. Warmth and charm are added by tile wood-plank flooring in the main living areas and bathrooms, complemented by upgraded carpet in the bedrooms and loft. This home seamlessly blends contemporary and cozy design elements, including the Moen Gibson Premium Bathroom package, designer floor tile in the primary bathroom, Meridian vanity lights, and a white wood stair railing. Additional features include a double gate, garage service door, soft-water pre-plumb, 8' interior doors, and extra ceiling lights in the great room. Conveniently located near shopping, dining, and the new Frontier Park, Madera offers residents access to a pool, spa, pickleball courts, and picnic areas.

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22466 E San Tan Boulevard Queen Creek, AZ 85142

New

$779,990

4 Beds

3 Baths

3,241 SqFt

Status Active

MLS # 6784663

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender. The Enchantment Series is situated in a private gated enclave within the sought-after Harvest community, offering a prime location near swimming pools, a catch-and-release lake, and a scenic green park. Enjoy peaceful living just moments from shopping and entertainment. Designed for both relaxation and hosting, this home features a stunning waterfall island, a chef's kitchen, and an open floor plan ideal for entertaining. A private courtyard entry adds a warm and inviting touch, welcoming you home.

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3785 W Silverdale Road Queen Creek, AZ 85144

$779,900

4 Beds

3 Baths

2,837 SqFt

Status Active

MLS # 6581821

Property Type Single Family Residence

Price Type --

About to break ground soon, single level 4 bedroom (or can be 3 + den), 3 bath, 4-car garage, stainless, granite throughout, covered patio, front courtyard, tile roof.... Buyer to select flooring, paint, granite, cabinets, etc. Estimated completion 9-10 months from ground-breaking. Drive by only at this time. Photos are of a completed version of this home.

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4422 N 75th Street Unit 6013 Scottsdale, AZ 85251

$779,900

1 Bed

1.5 Baths

1,114 SqFt

Status Active

MLS # 6751249

Property Type Apartment

Price Type --

ABSOLUTELY GORGEOUS 6th floor 1 bedroom plus Den with built in custom murphy bed to use as second bedroom 1.5 bath unit with A+ NE MOUNTAIN VIEWS. BEST AND LARGEST MASTER BEDROOM IN BUILDING, ALL GLASS WITH SEPARATE EXIT TO BALCONY, motorized shades throughout, top end washer dryer included. Relax in style in Old Towns most modern highrise. Unit has beautiful wood floors throughout, Poggenpohl European style cabinets with Island, quartz countertops, Bosch appliances and much more. The amenities at Envy are 2nd to none boasting a 4000 sq ft fitness facility with all top of the line equipment, a pool/pool lounge area that rivals any Vegas Resort and the exclusive Black Label Lounge to top it off along with 24/7 concierge/security with underground secured parking. Live the high life

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14708 W Carbine Court Sun City West, AZ 85375

$779,900

3 Beds

2.5 Baths

2,642 SqFt

Status Active

MLS # 6770515

Property Type Single Family Residence

Price Type --

Luxury Semi-Custom Home located in the Fitzpatrick Ranch area of Sun City West. Enjoy your new Arizona lifestyle in a spacious 3 bd w/den, 2.5 bth home with custom features throughout. Gourmet kitchen w/island, granite counters, electric cooktop, stainless appliances, breakfast bar & lg. dining area. Great room w/gas fireplace. Primary suite w/access to back patio. en suite bath w/jetted tub, walk-in shower & closet, double sinks. Guest bedrooms w/jack & jill bath, access to backyard. Lots of storage! Private backyard sanctuary w/covered patios and lush landscaping. Extended 2 car garage w/craft room & second 1 car garage. AC Replaced in 2022 & 2023 (2 units), HW Heater 2020, Exterior Paint 2019, Owned Solar. Furnishings Available Outside of Escrow. Plus Sun City West Amenities

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9472 W Jj Ranch Road Peoria, AZ 85383

$779,900

4 Beds

4 Baths

2,844 SqFt

Status Active

MLS # 6771336

Property Type Single Family Residence

Price Type --

Gorgeous 4 bedroom, 4 bath home on oversize lot. Chef's kitchen with large island, cooktop gas stove, wall oven, extensive granite countertops and walk-in pantry. Split floorplan with primary bedroom in back of home and secondary bedrooms off front hallway. Attached casita with separate entrance. Primary bathroom features dual sinks, tiled walk-in shower with full glass and gigantic walk-in closet. Highly upgraded with wood-like tile in all the main areas and carpet in bedrooms, 5 inch baseboards, lighting and fixtures, and plantation shutters throughout. 3 car tandem garage. Large backyard with covered patio ready for your touch. Envision a large gazebo with seating area, pool and tree-lined fencing. RV gate for toys. North/south facing.

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6738 E Las Animas Trail Gold Canyon, AZ 85118

$779,900

4 Beds

3 Baths

2,512 SqFt

Status Active

MLS # 6776070

Property Type Single Family Residence

Price Type --

Completely REMODELED STUNNING HOME IN SUPERSTITION FOOTHILLS W/ AMAZING MOUNTAIN VIEWS! NEW freshly PAINTED EXTERIOR&INTERIOR, ALL NEW FLOORING THROUGHTOUT W/ 4'' BASEBOARDS, Both Living Room and Family Room Look Like a MODEL HOME W/Ensuite Downstairs. BEAUTIFUL Primary Suite INCLUDES Sitting Room & Incredible Mountain Views! Gourmet Kitchen Light and Bright, NEW ROOF, NEW SOLAR SYSTEM (Paid for). BACKYARD is a RESORT W/ NEW HEATED 14'x30' POOL, NEW Putting GREEN, & NEW HOT TUB (above ground w/conveys), NEW LANDSCAPING and DRIP System! TWO Covered Patios to Enjoy the New Pool and VIEWS. 3 CAR Garage w/ New Garage Door/Opener with New Garage CABINETS, and MUCH MUCH MORE! SEE LIST OF UPGRADES! You Must See This Home it is Absolutely MOVE-IN READY. Nothing To Do... Just Relax and Enjoy!

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1688 E Lexington Avenue Gilbert, AZ 85234

$779,900

4 Beds

3.5 Baths

3,541 SqFt

Status Active

MLS # 6756015

Property Type Single Family Residence

Price Type --

Nestled in the desired 85234 zip code, this home offers unbeatable access to nearby entertainment and dining, with the convenience of your own private retreat. Whether you're enjoying a night out or staying in to host, you'll love the custom theater room and chic beverage bar, perfect for entertaining. The spacious main-level master suite provides a private area, while upstairs accommodations offer guests their own space. Every detail has been thoughtfully upgraded, from wood-look tile floors and fresh paint to the stylishly remodeled kitchen and bathrooms. Outside, the meticulously maintained backyard features an extended patio, ideal for outdoor relaxation. With soaring vaulted ceilings and a versatile loft, this open and airy home is designed for comfortable living with room to grow.

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1141 N Wide Open Trail Prescott Valley, AZ 86314

$779,900

3 Beds

3.5 Baths

2,863 SqFt

Status Active

MLS # 6764799

Property Type Single Family Residence

Price Type --

Tremendous views, quaint courtyard & private location in Stoneridge golf course community. Spacious living room showcases long-distance views for guests and family. Double doors lead to office/den w/ courtyard views. Kitchen features granite countertops, custom cabinetry, gas cooktop, island, breakfast bar, pantry and dining with great views. Guest suite with private entrance from courtyard leads to spacious family/game/media room. Split floor plan, 10 foot ceilings throughout, oversized laundry room with abundance of cabinets, counter space and sink. Primary suite w views, dual vanities, vast shower and spacious closet. The home needs new flooring, interior paint & appliances. Priced to sell. Enjoy quiet times under the covered back patio/trellis and fantastic views. Remarks cont'd... Mature low-maintenance landscaping. Community features include a community center w/ fitness room, pool/spa, billiards room, pickleball, tennis & bocci courts! Welcome home!!

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22112 N 79th Avenue Peoria, AZ 85383

$779,900

4 Beds

2.5 Baths

2,946 SqFt

Status Active

MLS # 6765950

Property Type Single Family Residence

Price Type --

This is one special!!! From the moment you walk up to the beautiful custom iron and glass front door you can't help but be impressed! This highly sought after single story in Fletcher Heights is where you will want to come home to. Tall ceilings and an open concept just feels spacious and open. Separate office off the front door continues that spacious, open feeling. As you enter into the kitchen and family room you will be impressed with the highly upgraded granite, stainless steel appliances and large kitchen island. The fireplace in the family room makes a cozy space to hang out and the charm of the French doors that overlook a large covered patio and oversized, fully landscaped backyard make you want to stay awhile. Down the hall you will find a powder room, a full bathroom and three additional bedrooms. On the opposite side of the house the primary suite is very spacious! It boasts bay windows, a private entrance to the backyard, en suite bathroom with separate tub and shower, and walk in closet. The separate laundry room leads into the 4 car extended garage! Great for parking, storage and the fold down double garage screen door makes this even more useful in those beautiful Arizona winters!! Come and check it out!!!

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