#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

7161 E Rancho Vista Drive Unit 2002 Scottsdale, AZ 85251

$750,000

2 Beds

2 Baths

1,295 SqFt

Status Active

MLS # 6762479

Property Type Apartment

Price Type --

Lovely unit is interior facing overlooking a serene pool while enjoying the lush terrace. Custom kitchen features granite countertops, Dacor gas range as well as double oven, wine refrigerator, breakfast bar and open to dining & living space. Office nook with ample storage. Unit is surrounded by windows extending to the terrace to create a very inviting home. Optima features many amenities including 24,000 sq ft fitness center, lap pool, two spas, steam room, basketball, racquetball & exercise room. The landscaping throughout the development is lush and green and features waterfalls, reflective pools and putting green. There are 2 outdoor pools/spas, retail shopping, dog park and plenty of walking paths. Quick walk to Scottsdale Fashion Square, dining, movies and entertainment

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643 W Muirwood Drive Phoenix, AZ 85045

$750,000

4 Beds

2 Baths

2,422 SqFt

Status Active

MLS # 6768224

Property Type Single Family Residence

Price Type --

This stunning 4-bedroom, 2-bathroom plus Den single-level home in the highly sought-after Club West community offers elegant living with modern upgrades. The home features a spacious formal living and dining area with custom built-ins, perfect for entertaining. The gourmet kitchen is a chef's dream with stainless steel appliances, including a gas stovetop, granite countertops, a granite island with a raised bar, and charming French doors. The master bedroom includes a cozy sitting area and French doors leading to the oversized backyard. The large master bathroom boasts double sinks, a bathtub, a walk-in shower, and a walk-in closet. The secondary bedrooms have beautiful wood floors, while the second bathroom features granite countertops and updated light fixtures. (see more) An additional room can be used as a den or home office. The backyard is an oasis with a sparkling play pool, a covered patio with lights and ceiling fans, and a large grass area, perfect for outdoor gatherings. The 3-car garage provides ample storage space with epoxy floors for a clean finish. Located in a great neighborhood with excellent Kyrene schools nearby, this home offers both luxury and convenience.

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7308 W Tombstone Trail Peoria, AZ 85383

$750,000

3 Beds

2.5 Baths

2,508 SqFt

Status Active

MLS # 6766642

Property Type Single Family Residence

Price Type --

It's ready for move-in—no need to wait for a new build! This beautifully, lightly lived in home has 3-bedroom, 2.5-bathroom and offers a perfect blend of space and comfort. Featuring a den with glass french doors. A large great room, the spacious 2,508 sqft living space includes sleek tile flooring, brand-new carpet, and large windows that fill the home with natural light. 2 large sliding doors give you easy access to the cozy patio. The primary bedroom has a walk-in closet for convenience and privacy. The kitchen boasts granite countertops, a spacious island, water softener and a dining area perfect for gatherings. 3-car tandem garage with an epoxy floor. This home is just waiting for you!

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23382 N 73rd Way Scottsdale, AZ 85255

$750,000

3 Beds

2.5 Baths

1,957 SqFt

Status Active

MLS # 6766607

Property Type Townhouse

Price Type --

Welcome to luxury living in the heart of North Scottsdale's prestigious gated community. This exquisite 3-bedroom, 2.5-bathroom home offers an unparalleled blend of sophistication and comfort. From the moment you step inside, you'll be greeted by top-tier finishes and a meticulously designed interior that exudes elegance.This turnkey residence boasts a rooftop balcony with stunning 360-degree views of Pinnacle Peak Mountain and the McDowell Mountains, perfect for enjoying breathtaking sunsets and starlit evenings. Escape to your private patio, tucked away on an interior lot ensuring peace and quiet with no road noise.Ideal for entertaining, the home features multiple living areas including an additional living room upstairs.

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22851 W Mark Lane Wittmann, AZ 85361

$750,000

5 Beds

3 Baths

3,155 SqFt

Status Active

MLS # 6765023

Property Type Single Family Residence

Price Type --

This stunning corner lot property offers 2 master suites in a slit floorplan perfect for hosting guests, or use as game room! 5 spacious bedrooms and a home office for today's needs. The gourmet kitchen features upgraded cabinets and ample counter space. Enjoy your private oasis with a heated pool/spa on the 1.1-acre fenced private lot and County approved plans for a 30x30 detached garage. Easy RV access with a straight pull-in driveway, and 3-car garage. NEW top of the line variable speed HVAC system! Peace away from the city and gorgeous mountain views complete this move-in-ready home.

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5389 S Scott Place Chandler, AZ 85249

$750,000

5 Beds

3.5 Baths

4,015 SqFt

Status Active

MLS # 6767100

Property Type Single Family Residence

Price Type --

Offering an impressive 5 bedrooms, 3.5 baths, 2 living rooms 3 car garage, RV Gate & so much more! This remarkable property features TWO MASTER SUITES, one conveniently located on the main floor and the other upstairs—providing flexibility and comfort for all family members. The expansive loft area is truly a standout feature, providing ample space for relaxation or entertainment. Each generously sized bedroom is complemented by walk-in closets, ensuring that storage is never a concern. The well-appointed laundry room includes a large pantry, adding to the home's functionality. an incredible opportunity for those seeking a spacious and versatile living environment, all at a competitive price.

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9025 N 86th Place Scottsdale, AZ 85258

$750,000

2 Beds

2 Baths

1,785 SqFt

Status Active

MLS # 6768304

Property Type Townhouse

Price Type --

*Photos coming soon* Light-filled Scottsdale townhome in desirable Sands McCormick Ranch awaits! This remodeled gem boasts 2 en-suite bedrooms with walk-in closets, vinyl flooring, and a custom bookshelf. Enjoy the eat-in kitchen, laundry room, and 2-car garage. Relax on the gated front patio or covered back patio. A detached A/C studio offers versatile space. Community amenities include a pool, tennis, and pickleball. Prime location with mountain views and easy access to shopping and dining.

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17663 W Straight Arrow Lane Surprise, AZ 85387

$750,000

4 Beds

3.5 Baths

2,977 SqFt

Status Active

MLS # 6770562

Property Type Single Family Residence

Price Type --

Brand new and stunning build completed in 2022! This stunning 2 story Pearce Plan offers 4 bedrooms, including a mini-master suite room, Study and 3.5 baths. A 2 car garage and 49' air conditioned RV Garage. The gourmet kitchen boasts of a ''36'' Gas cook top, Stainless Steel ovens and microwave, matching appliances and Quartz countertops. Backyard is a clean slate!

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4222 E Edgewood Avenue Mesa, AZ 85206

$750,000

3 Beds

2 Baths

1,553 SqFt

Status Active

MLS # 6769515

Property Type Single Family Residence

Price Type --

Welcome to 4222 E Edgewood Ave, a beautifully maintained 3-bedroom, 2-bathroom home nestled in one of Mesa's most desirable areas. This property sits on an expansive lot, offering ample space for all your outdoor needs. The home exudes charm and warmth, with spacious living areas and well-appointed features throughout. A standout feature of this property is the giant 40x70 workshop, perfect for anyone in need of extra space for projects, storage, or hobbies. The location is ideal, providing a peaceful setting while still being conveniently close to everything Mesa has to offer. This is a rare opportunity to own a piece of serenity in a prime location. Car lifts do not come with the property but may be negotiated.

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19435 N 62nd Avenue Glendale, AZ 85308

$750,000

4 Beds

3.5 Baths

3,458 SqFt

Status Active

MLS # 6775812

Property Type Single Family Residence

Price Type --

Welcome to your dream home—an oasis of comfort and style on a corner lot with stunning desert landscaping and an expansive driveway that leads to a 3-car garage. This stunning 3,458sqft residence offers 4-bedroom, 3.5-bath with an open floor plan that's perfect for everyday living and entertaining. A family room and formal dining area provide a welcoming entrance, while the main large living space features a custom-built office nook. Natural light fills the home thanks to its many windows, creating a bright and airy atmosphere. The expansive kitchen is a chef's dream, complete with a large island, ample cabinetry, and an eat-in dining area that overlooks the resort-like backyard. Enjoy the indoor-outdoor flow with sliding glass doors that lead to your own private oasis—featuring a sparkling pool, extended covered patio, and lush grassy area, ideal for outdoor dining, relaxing, or play. Upstairs, a versatile loft awaits, perfect for a media room, office, or game space. The primary suite offers a retreat of its own, with breathtaking mountain views, a spa-like bathroom with dual vanities, a separate soaking tub, and an oversized closet that provides abundant storage space. Nestled in the coveted Highlands at Arrowhead Ranch, this home provides access to scenic walking paths, parks, playgrounds, and greenbelts. Enjoy outdoor activities with Thunderbird Park's hiking trails and several golf courses nearby such as Legends & Arrowhead, Arrowhead Country Club is just moments away plus offers tennis, workout facilities, indoor/outdoor pool, dining & much more! Foothills Recreation & Aquatics Center is also just a mile away & has a ton to offer! Shopping, dining, and entertainment options are just minutes away, including Arrowhead Towne Center with nearby healthcare facilities. Whether you're looking for luxury, convenience, or an active lifestyle, this home has it all!

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28631 N 46th Way Cave Creek, AZ 85331

$750,000

4 Beds

2.5 Baths

2,650 SqFt

Status Active

MLS # 6772659

Property Type Single Family Residence

Price Type --

Refreshed Tatum Ranch home offers thoughtful updates, plantation shutters, lux vinyl flooring & a neutral color palette. Popular Chaparral floor plan provides generous living & dining areas along with expansive family room which is open to the newly remodeled chef's kitchen. Natural light, comfortable gathering places & vertical space make this home engaging from start to finish. First floor primary suite with elegant bath and large walk-in closet is the perfect retreat. Powder room & laundry center round out the first level. Upstairs, oversized Bedroom 4 with huge closet offers flexibility as a bonus room or office. Two additional guest rooms and bath complete this layout. Outside, relax on the expanded paver patio with no neighbors behind! Enjoy the Tatum Ranch lifestyle. Welcome Home!

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1403 E Elysian Pass Queen Creek, AZ 85140

$750,000

2 Beds

3 Baths

2,431 SqFt

Status Active

MLS # 6771200

Property Type Single Family Residence

Price Type --

This truly spectacular, 2BR + Large Den is a highly upgraded, luxury property in the gorgeous, private Encanterra All Ages Community. With over $400,000 in upgrades, this north/south facing home is move-in ready with too many designer touches and upgrades to list: The Gourmet Kitchen includes stainless steel GE Monogram appliances with two ovens, warming drawer, microwave/convection oven, oversized granite island, upgraded designer cabinets and under-cabinet lights, Two Owner's Suites, one with $80,000 custom closet to die for, with designer upgraded dual basins & faucets and walk in closets. Custom private den designed with a built desk area and elegant wood casing that compliments the beautiful glass French doors and real wood floors. Over-sized smart space/laundry room with stainless steel utility sink. Additional features: Iron & glass entry door, 3rd bath, central vacuum, water softener, RO system, wired for 7.1 surround sound, built-in BBQ and cozy fireplace outside under the large, covered patio. Not to forget, the garage is extended, insulated and climate-controlled with a professionally installed epoxy floor. Schedule your private showing to see this stunning property as you don't want to miss it.

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