#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

1346 W Willetta Street Phoenix, AZ 85007

$775,000

4 Beds

2 Baths

1,626 SqFt

Status Active

MLS # 6779479

Property Type Single Family Residence

Price Type --

This beautiful 1929 Spanish Colonial Revival in the FQ Story Historic District showcases vintage Phoenix at its finest with active historic building tax status providing significant property tax benefit! Great floorplan with bright, natural light streaming into every room. You'll find a neutral palette throughout, with 4 beds, 2 baths, dining room, dine-in kitchen, interior laundry room, and generous closet/storage spaces. The 2 bed/1 bath on one side would be perfect as primary suite bed/bath w/nursery or large dressing room - also ideal as roomy in-law suite with private entrance. Features 2 driveways: front and rear with a large attached/covered rear carport completely enclosed within property with custom 2023 rear remote gate Upgrades include: 2 newer split HVAC units, ceiling fans in all bedrooms and kitchen, 2022 water heater, 2018 washer/gas dryer, front/rear irrigation system with 2024 timer, owned security system, 2023 exterior painted, 2024 interior paint, 2023 exterior awnings/window sun drapes, 2019 flat roof elastomeric coating, 2024 window treatments, all kitchen cabinets w/child-safe closures, 2024 rear drive refinished, and 2 large storage sheds. The property is private and serene, bordered in front by green fencing hedge, a front patio accessed via French doors, and fully enclosed backyard with a flagstone patio. Easy to maintain landscaping front and rear. Complete service records provided to new owner. Close to vibrant restaurants, many cultural venues and convenient to all valley freeways/airport/medical facilities. This is quintessential historic neighborhood living in the highly desirable FQ Story!

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2340 W Horsetail Trail Phoenix, AZ 85085

$775,000

3 Beds

3 Baths

2,831 SqFt

Status Active

MLS # 6778205

Property Type Single Family Residence

Price Type --

This is truly the BEST designed home in this subdivision. Pictures give this gem no justice. Upgrades such as Quartzsite countertops, Updated flooring, new A/C, 3 fireplaces, gourmet kitchen with professional Viking appliances, French doors to multiple patios and courtyard, high grade cabinetry with butler pantry and much more. Make sure to stop by and see this home before making your final decision.

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21841 S 185th Place Queen Creek, AZ 85142

New

$775,000

6 Beds

4 Baths

3,518 SqFt

Status Active

MLS # 6777519

Property Type Single Family Residence

Price Type --

This home has it all! Conveniently located in Sossaman Estates, this 6-bedroom, 4-bath home has all the boxes checked. Enjoy a large yard with a sparkling heated pool, spa, and waterslide. Upon entering, you'll find a separate casita with its own entrance to the main home. The updated kitchen features beautiful cabinetry and granite countertops. Upstairs, multiple bedrooms include a separate primary suite with vaulted ceilings. The primary bath was updated with new cabinetry, dual sinks, a jetted tub, and shower. One of the main attractions upstairs is the large loft, which can serve as a relaxation area or game room.

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17817 N 43rd Place Phoenix, AZ 85032

$775,000

4 Beds

3 Baths

2,135 SqFt

Status Active

MLS # 6779148

Property Type Single Family Residence

Price Type --

Welcome to your dream home, Luxury design. This stunning fully remodeled residence is situated on large lot, super sized 2 car garage, RV Parking. Every inch of this home has been thoughtfully updated with everything brand-new, from top to bottom. Step inside to discover an open and modern layout, split floorplan 4 bdrm, with two primary bedrooms, 3 full baths, complete with contemporary and high-end design tiles, luxury vinyl flooring throughout elegant fixtures, designer feature walls. The new kitchen boasts quarts countertops, waterfall island, stainless steel appliances, and custom cabinetry, making it a chef's paradise. Step outside to your private oasis—a brand-new swimming pool that's perfect for enjoying Arizona's sunny days. The large yard provides endless possibilities to enjoy.

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28957 N 70th Drive Peoria, AZ 85383

$775,000

4 Beds

3 Baths

2,573 SqFt

Status Active

MLS # 6778651

Property Type Single Family Residence

Price Type --

Single story 4 bedroom plus bonus room home on a large cul-de-sac lot with a large pool and owned solar to keep the electric bill low! Upgraded gourmet kitchen with custom cabinetry, updated backsplash and custom floating shelves, granite counters, gas stove, dual ovens, and stainless steel appliances. RV gate and pavers alongside the house. Huge, grassy yard for a play set or yard games while hanging out by the pool. Newer water softener and RO System, pool filter, salt cell, gear box, and garage door opener too! Very rare to find this combination of house and features in Sonoran Mountain Ranch.

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3921 W Monte Cristo Avenue Phoenix, AZ 85053

New

$775,000

3 Beds

2 Baths

2,137 SqFt

Status Active

MLS # 6783689

Property Type Single Family Residence

Price Type --

This is your chance to get one of the HIGHLY SOUGHT after, HUGE lot (almost an ACRE) in the CITY homes. NO HOA! Now you can have it ALL! This one features THREE bedrooms (PLUS BONUS DETACHED BEDROOM/OFFICE/STUDIO/MOTHER IN-LAW SUITE), TWO bathrooms, large TWO car garage, DIVING POOL, GINORMOUS COVERED R/V PARKING STRUCTURE, R/V gate and so much more! This homes floor plan flows like the rio grande and has been tastefully remodeled as if it was featured on HGTV! The kitchen and primary bath are going to absolutely knock your socks off not to mention the laundry room the size of Texas! This home is conveniently located near excellent shopping, gyms, hiking, biking, great schools and twenty minutes of the airport. Make sure to put this on your list to see! NO HOA!

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8120 N 5th Street Phoenix, AZ 85020

New

$775,000

3 Beds

2 Baths

2,065 SqFt

Status Active

MLS # 6783720

Property Type Single Family Residence

Price Type --

* Great North Central Location, Tree Lined Neighborhood ''Between the 7s''; Near Murphy Bridle Path, Hiking, Biking, Canal Path, Great Local Restaurants & Shopping * Newer ('20) Kitchen Cabinetry, Quartz Countertops, Stainless Steel Appliances, Tiled Backsplash, Pantry Storage * Light & Bright Great Room w/ Skylights, Brick Fireplace, Separate Formal Living & Dining Areas * Updated Recessed Lighting, Plank Flooring Throughout, Dual Pane Windows, Updated Baths, Newer Lighting, Ceiling Fans * Primary Bedroom has Exit to Backyard * Large Backyard with Mature Trees, Citrus, Pomegranate, Irrigation Front & Back * Extra Large Laundry Room, Mud Room/Desk Area/Walk in Pantry off 2 Car Garage w/ Epoxy Floor * Highly Rated Sunnyslope High, Easy Freeway Access to Downtown, Airport, rest of valley *

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9911 E Monterey Avenue Mesa, AZ 85209

$775,000

4 Beds

3.5 Baths

3,338 SqFt

Status Active Under Contract

MLS # 6743943

Property Type Single Family Residence

Price Type --

Experience luxurious living in this stunning 4-bedroom, 3.5-bath residence in Augusta Ranch! This home features Dual Master Suites with the primary suite on the first floor, 3-car garage with newly installed epoxy flooring, soft water system and a Tesla universal charging station hardwired into the garage, convenient RV gate, elegant stone accents, and a professionally and meticulously designed tropical landscape with 10 2-story high date palm trees. The home exterior was recently updated to include a custom, sand finish stucco, new paint/color scheme, and farmhouse lighting fixtures. Once inside, you are greeted by a living/dining room with vaulted ceilings, a neutral palette, plantation shutters, and a harmonious blend of carpet and travertine stone flooring. The great room boasts a stone-clad fireplace for intimate evenings with loved ones. The gourmet kitchen is complete with granite counters with a matching backsplash, custom cabinetry, stylish pendant/recessed lighting, built-in appliances, a handy pantry, and an island with a breakfast bar. You'll also find a den perfect for an office or study. Upstairs, the cozy loft provides additional space for relaxation and/or games with the family.The serene main bedroom features an ensuite with dual sinks and a walk-in closet. Outdoors, the enchanting backyard offers a covered patio, a basketball court, a golf course, and a refreshing pool with a uniquely designed cave slide and 6 ft waterfall, ideal for enjoying breathtaking sunsets.

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2081 W Maplewood Street Chandler, AZ 85286

$775,000

4 Beds

3 Baths

2,836 SqFt

Status Active Under Contract

MLS # 6763367

Property Type Single Family Residence

Price Type --

Unveil the charm of this perfectly maintained 4-bedroom retreat, a flawless blend of convenience & functionality! You'll LOVE the spacious layout with an inviting living room, formal dining & desirable great room open to a chef's dream kitchen w/newer appliances and walk-in pantry. Bedrooms are split for privacy or perfect mother-in-law setup. Romantic primary bedroom in its own wing includes spa-like ensuite w/large walk-in closet. Step into a backyard paradise w/sparkling clean pool & spa, garden beds, citrus, relaxing covered patio. Split garages and RV gate for parking options, with 20-amp service & storage galore! Location can't be beat in South Chandler with excellent schools, close to Intel, easy freeway access and a hub of shopping & restaurants. This gem is clean & move-in ready!

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86 E Moon Vista Apache Junction, AZ 85119

$775,000

4 Beds

2 Baths

2,311 SqFt

Status Active Under Contract

MLS # 6767462

Property Type Single Family Residence

Price Type --

Welcome to paradise! This stunning 4-bedroom, 2-bath home sits on over an acre of land elevated higher than the city, offering breathtaking mountain and city light views. Enjoy the luxury of a like-new Pebble Tech pool and large patio in your fully fenced backyard, perfect for entertaining with stunning 360 degree views. The extended-length 4-car garage and RV gate provide ample space for all your vehicles and toys. Built in 2016 with durable 2x6 construction, this meticulously maintained home features an open layout, an upgraded kitchen with elegant cabinets and granite countertops, all set against picturesque views. This property is magnificent and needs nothing! There is more than enough room to build a shop, add additional parking, or whatever your heart desires.

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7157 E Rancho Vista Drive Unit 1009 Scottsdale, AZ 85251

$775,000

2 Beds

2 Baths

1,200 SqFt

Status Active Under Contract

MLS # 6776813

Property Type Apartment

Price Type --

Looking for concierge service, walkability & a prestigious address? Look no further than the Optima Camelview Village. This beautifully updated first floor unit features 2 bedrooms, 2 bathrooms, highly upgraded kitchen with quartz countertops + Dacor appliances + 6 burner Dacor gas range. The condo offers an oversized patio perfect for outdoor living + dining. The location is steps away from the incredible Cesar's Republic Scottsdale hotel, Fashion Square Mall featuring all the top Luxury Designers, the best restaurants Old Town Scottsdale has to offer like Ocean 44, Toca Madera, Nobu, Francine, and the hotly anticipated Élephante. The community offers multiple heated pools + spa's, fitness center, basketball + hand/raquetball courts, concierge services, restaurant on site (Metropolis), lush grounds, putting greens, gated underground parking, 24/7 security, the list of amenities is endless. What more could you want? This condo has it all!

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11404 E Fox Circle Mesa, AZ 85207

New

$775,000

4 Beds

2 Baths

2,653 SqFt

Status Active

MLS # 6783871

Property Type Single Family Residence

Price Type --

RV enthusiasts, this one's for you!! RV parking is allowed and has a paved RV parking space which is 42ft long X 25ft wide with a 12ft RV gate. This stunning and sprawling single level split floor plan home is on a Cul-de-sac Street in the desirable neighborhood of Salerno Ranch. This home has been meticulously maintained and has numerous upgrades with the outside of the home newly painted in 2023. Gorgeous curb appeal with beautiful landscaping recently done. Home has 10 ' ceiling throughout, and the foyer and formal living/dining space has 12' ceilings. The beautiful backyard is an entertainer's delight! Plenty of space for entertaining and BBQ's. The side shed along the home is for all your toys. Come see this gorgeous home before it's gone.

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