#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

28694 N 127th Lane Peoria, AZ 85383

$770,000

2 Beds

2 Baths

2,114 SqFt

Status Active

MLS # 6777542

Property Type Single Family Residence

Price Type --

Don't miss out on this stunning home! This spacious 2-bedroom, 2-bath residence spans 2,115 sq ft and is nestled within the exclusive gated, 55+ active lifestyle community of Trilogy at Vistancia. This meticulously maintained residence features an inviting open floor plan with soaring 10' ceilings, custom built in entertainment center and PREPAID SOLAR for low monthly utility costs. You'll love the oversized lot with a private backyard, featuring a patio with extended pavers and pergola - great for entertaining. The master suite is a serene retreat, complete with a bay window and a custom walk-in closet, while the master bath has been beautifully upgraded. Additional features include a separate laundry room with both gas and electric options, and an extra deep 25 ft garage with added side storage, built-in cabinetry and stained/sealed garage flooring. Experience the best of resort-style living in this exceptional home!

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13801 N 30th Street Phoenix, AZ 85032

$770,000

5 Beds

3 Baths

3,009 SqFt

Status Active

MLS # 6775888

Property Type Single Family Residence

Price Type --

Absolutely stunning home in the perfect location. This home features a 3-car garage, 5 bedrooms, 3 baths and over 3000 sqft of living space. Harmonious interior offering gleaming wood floors, a designer color palette, beautiful windows and an open and inviting space for gathering. The impeccable kitchen boasts with a center island, breakfast nook, large pantry and stainless steal appliances. The amazing backyard is perfect for entertaining guests, with a sparkling swimming pool, outdoor seating space and lush landscaping. You will not want to miss this home!

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9723 E Torino Avenue Mesa, AZ 85212

New

$770,000

5 Beds

4.5 Baths

3,192 SqFt

Status Active

MLS # 6783187

Property Type Single Family Residence

Price Type --

Discover this elegant home in the desirable Cadence neighborhood! This upgraded 5-bedroom plus den residence features an open floor plan, a spacious loft, and a beautifully designed backyard patio. As you enter, you'll find a grand hallway leading past a downstairs bedroom, full bath, and den. This could also be used as an in-law suite. Next walk into a bright living area with a stunning feature wall and fireplace. The upgraded kitchen boasts granite countertops, ample cabinetry, a grand center island, a chic backsplash, custom lighting, and stainless steel appliances. Large sliding glass doors fill the space with natural light and offer views of the backyard. Downstairs also features custom plantation shutters. Upstairs, you'll find a spacious loft and four additional bedrooms, including a master suite with a wood feature wall and barn door plus a luxurious bathroom with double vanities and a walk-in custom built closet. One guest bedroom includes an en-suite bath for added comfort. With custom tile flooring and stylish accents throughout, the home exudes charm. A paid off solar power system, consisting of 26 panels and boasting a capacity of 10.4 kW DC, was installed in March 2022 and is equipped with a demand manager to optimize power use during peak hours. The backyard offers an extended covered patio, pavers, and low-maintenance turf, ideal for entertaining or relaxation. Enjoy privacy with no homes behind or to the west. The 3-car garage features epoxy flooring. Home is located in a highly desirable area and walking distance from Silver Valley Elementary. Make this your new home today!

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3161 E Hampton Lane Gilbert, AZ 85295

$770,000

3 Beds

2.5 Baths

2,436 SqFt

Status Active

MLS # 6780446

Property Type Single Family Residence

Price Type --

Home, sweet home! This stunning 3-bedroom, 2.5-bath residence boasts a 3-car garage, a convenient RV gate, and a welcoming front porch. You're greeted by an inviting living room with high ceilings, an earth-tone palette, blinds, and wood-plank flooring. A formal dining room is also included, perfect for hosting memorable dinner gatherings. The eat-in kitchen includes granite counters, warm wood cabinetry with crown moulding, recessed lighting, a subway tile backsplash, SS appliances, a handy pantry, and an island with a breakfast bar. A flexible den offers space for an office or study area. The cozy main bedroom features direct backyard access, an ensuite with double sinks, and a practical walk-in closet. Discover a resort-style backyard showcasing a covered patio, a couple of pergolas, stylish pavers, a built-in BBQ with a dry bar, a large expanse of artificial turf, and a sparkling pool. Make this gem yours now!

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6602 S Teresa Drive Chandler, AZ 85249

$770,000

4 Beds

3 Baths

2,700 SqFt

Status Active

MLS # 6782410

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the highly sought after Sun River neighborhood of South Chandler! This stunning single level home has been completely upgraded and is sure to wow you at every turn. As soon as you step inside, you'll notice the fresh interior paint and open concept living space that is perfect for hosting gatherings with family and friends. The elegant dining room flows seamlessly into the spacious living room, which features a cozy stone gas fireplace. The family room is also connected to this space, creating a perfect layout for entertaining. The kitchen is a chef's paradise, with gorgeous quartz countertops and beautiful updated cabinetry. The brand new flooring and plush carpet throughout the home brightens up the space and adds a touch of luxury. This home boasts four large bedrooms, with the master featuring an additional sitting room. Two of the bathrooms have double sinks, while the third has a single sink. Perfect for convenience and privacy. But the true showstopper of this home is the backyard oasis and gazebo. The sparkling pool is surrounded by stamped concrete and features an outdoor shower. You can swim, lounge, and relax in your own private paradise. The backyard is also equipped with synthetic grass, making it incredibly low maintenance and freeing you from pesky mowing. You can also find a split 3-car garage (2 car/1 car) with built-in cabinetry and an RV gate leading to a wide side yard for additional storage. Don't miss your chance to own this absolute perfect home in South Chandler.

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3832 E Poinsettia Drive Phoenix, AZ 85028

$770,000

4 Beds

3 Baths

2,183 SqFt

Status Active Under Contract

MLS # 6776216

Property Type Single Family Residence

Price Type --

This mid-century modern home, just 5 minutes from the reimagined PV development, is a true gem. With its striking exposed aggregate brick and a garage conversion for added functionality, it exudes curb appeal. A paver driveway and new landscape rock complete the picture-perfect setting. Step inside and discover a spacious and inviting interior. This 4 bedroom, 3 bathroom home features a split floor plan with two primary suites for optimal privacy. Vaulted ceilings and an open concept kitchen and living area create the perfect atmosphere for entertaining. A dual HVAC system (gas and electric) ensures year-round comfort and energy efficiency, while double-insulated exposed ductwork adds a modern touch. The private backyard oasis beckons you to relax and unwind. A sparkling pool with new pebble sheen plaster and updated equipment takes center stage. The expansive, resurfaced pool deck offers ample space for lounging and entertaining, enhanced by a Pentair LED pool light for evening swims. For safety and aesthetics, the diving board has been removed and the waterline tile replaced. Beyond its aesthetic appeal, this home boasts significant upgrades, including a new 200 amp electrical system and all-new plumbing, ensuring modern living convenience and peace of mind.

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40516 W Hall Drive Maricopa, AZ 85138

New

$770,000

3 Beds

2.5 Baths

2,580 SqFt

Status Active

MLS # 6784290

Property Type Single Family Residence

Price Type --

This stunning, professionally designed home features 3 bedrooms plus a den, blending comfort with elegance. With custom cabinetry and designer finishes throughout, it's a perfect sanctuary for relaxation or an impressive space for entertaining. Highlights include beautiful wood plank tile flooring, a spacious open floor plan, and a hidden office—a true must-see. Situated on a 12,000 square-foot lot, the outdoor area boasts an elegant travertine-tiled patio, a detached gazebo, a custom gas grill, and a glistening pebble-tec pool. 1,800 square feet of fully temperature-controlled 45-foot RV garage connects to an oversized 3-car tandem garage with built-in custom cabinets and an epoxy-sealed floor, ideal for showcasing your prized possessions. The gourmet kitchen will inspire inner chef, equipped with a 36-inch, 5-burner gas cooktop, stainless steel double ovens, and a jumbo quartz island with an undermount sink and decorative backsplash. This one-of-a-kind home is truly a must-see!

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11365 N 109th Way Scottsdale, AZ 85259

New

$770,000

4 Beds

2 Baths

2,181 SqFt

Status Active

MLS # 6783948

Property Type Single Family Residence

Price Type --

Fantastic home with POOL in a great Scottsdale location! Providing 4 beds, 2 baths, 2-car garage, & a well-manicured landscape. Be greeted by separated dining & sunken living areas! Continue on to the open-concept family room, paired with a fireplace. Vaulted ceilings add to the airy feel, complemented by abundant natural light, two-tone paint, and carpet & wood-look tile floors t/out. The impressive kitchen boasts SS appliances, granite counters, travertine tile backsplash, track lighting, ample wood cabinetry, and an angled island w/breakfast bar. French doors merge the inside/outside activities! Main bedroom has sliding doors to the back and an ensuite with dual sinks, separate tub/shower, & a walk-in closet. Enjoy the entertainer's backyard with a covered patio & fenced pool!

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3000 E Misty Mountain Loop Prescott, AZ 86303

$770,000

3 Beds

2 Baths

2,044 SqFt

Status Active

MLS # 6718714

Property Type Single Family Residence

Price Type --

Hidden treasure in the tall Ponderosa Pines just south of Prescott on 2 acres with 3 bed 2 baths and a 3 car garage. So many upgrades to make it a year round home or a great get away that is fully functional for the entire family. Metal roof over this beautiful 2044 sqft home and a 5 year warranty along with over $200,000 in upgrades so that it can be a year round home. Full list is attached however to name just a few updates include Anderson windows, Prestige security doors, plank board flooring, porcelain tile in the kitchen, stainless steel appliances, front yard fencing, with 3 gates, AC, and a whole house backup generator. Landscaping was updated to allow proper drainage so nothing puddles and you have easy access to your property. Seller was considering building a workshop and started a PAD and driveway ( see pictures). Garage itself will fit 2 cars, UTV and still have room to move. Additional storage sheds on property for items less needed. Well was recently serviced and produces 15 gpm, more information in documents along with a survey, septic pump and functional certification for transfer of ownership. Hot Tub will not convey. Pictures do not give this property justice and should be seen in person.

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4937 S Deer Trail Trail Prescott, AZ 86303

$770,000

4 Beds

5 Baths

3,543 SqFt

Status Active

MLS # 6717722

Property Type Single Family Residence

Price Type --

SHORT TERM RENTAL OPPORTUNITY! Escape to serene Prescott living in this cozy retreat with radiant heated floors, multiple fireplaces, and a luxurious Jacuzzi tub in the main bathroom next to the living room. The primary suite boasts a fireplace, custom closet, and spa-like bathroom. The home features ample living space, an elevator for easy access (recently serviced), and two-car garage with epoxy flooring. Additionally, there's an extra large one car carport for parking convenience. With five bathrooms, three full baths and two half baths, everyone's needs are accommodated. The private gated entry, with remote control ensures security and exclusivity. Seamlessly blending timeless charm with modern upgrades, this retreat promises an inviting haven in Prescott's picturesque landscape

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1703 W Sleepy Ranch Road Phoenix, AZ 85085

$770,000

4 Beds

2.5 Baths

2,699 SqFt

Status Active

MLS # 6731215

Property Type Single Family Residence

Price Type --

Enter this beautiful North facing home in the exclusive Sonoran Foothills gated subdivision. One of a kind back yard & sail covered tiled patio. Built-in BBQ area, water fountain, grass yard with lots of greenery & grape vines. Come enjoy this great room floor plan. Large open beautiful kitchen with island, granite, dark cabinets, stainless steel appliances, built-in desk area, breakfast area & open to great room with stone fireplace. Good sized formal dining room for entertaining or family gatherings. Large master suite is split & has wonderful bath with vanities, granite, oval tub & walk-in shower. 3 other bedrooms (4th used as office). 2 full baths, powder room and a 3 car garage!

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9020 N Covered Wagon Trail -- Prescott Valley, AZ 86315

$770,000

3 Beds

2 Baths

2,195 SqFt

Status Active

MLS # 6745154

Property Type Single Family Residence

Price Type --

Beautiful spacious home in sought after Lonesome Valley on 2 fully fenced acres with electric gate. This open floor plan is an entertainers dream with chefs kitchen and all stainless appliances. Granite counters with impressive breakfast bar too! Private primary bedroom with great on suite bath, relax in the jetted garden tub. Need an office? There's a nice one here. The covered rear patio is perfect for unwinding and watching those great southwestern sunsets. 3 large sheds for hobbies, workshop, man caves or she sheds. Even storage. Big 3 car garage for your vehicles and toys. Got pups? There's plenty of room for them to roam here. Take a look today!

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