#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

19749 S 231 St. Way Queen Creek, AZ 85142

$751,988

4 Beds

3.5 Baths

3,048 SqFt

Status Active

MLS # 6707641

Property Type Single Family Residence

Price Type --

PRICE WAS REDUCED FROM ORIGINAL PRICE OF $784,988!! GREAT ROOM PLAN, W/LOFT, MAIN BEDROOM IS DOWNSTAIRS, ATRIUM DOORS LEADING TO BACK PATIO, 4-BEDROOM, 3.5 BATH, 3- CAR GARAGE, UPGRADED 42'' CABINETS, GRANITE KITCHEN TOPS, 10' CEILINGS, GOURMET KITCHEN LAYOUT, HERRING BONE DESIGN FLOOR TILE, TANKLESS GAS WATER HEATER, WATER SOFTENER, ETC... ALL THIS, IN THE NEW PREMIER MASTER PLAN COMMUNITY IN QUEEN CREEK, FEATURING A 22 ACRE LAKE. THIS IS THE CENTERPIECE OF THE COMMUNITY. KAYAKING AND CANOEING, AQUATIC CENTER WITH LAP AND SPORT POOL SPLASH PAD, BOCCE BALL, PICKLE BALL, BOARDWALKS AND RAMADAS THROUGHOUT AND MUCH MORE.. THE HOME INCULDES 2'' FAUX WOOD BLINDS, CEILING FANS, TANKLESS WATER HEATER+++ KATHERING MECHAM BARNEY SCHOOL IN THE COMMUNITY.

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W Pima Road Maricopa, AZ 85139

$750,000

4 Beds

3 Baths

2,842 SqFt

Status Active

MLS # 6760429

Property Type Single Family Residence

Price Type --

TO BE BUILT-NO HOA! Discover the endless possibilities with this custom-build, multi-generational home, where mountains and saguaro cacti create a breathtaking backdrop. Perfectly designed for extended family living, this property offers both privacy and shared spaces, all within a setting that's truly one-of-a-kind. This unique opportunity allows you to put your personal touch on the final finishes, making this dream home truly your own. The home boasts 10-foot ceilings throughout, enhancing the spacious and airy feel of the interior. A 15-foot collapsible patio door seamlessly connects the indoors with the outdoors, allowing for an effortless flow between the living area and your private outdoor oasis. PHOTOS OF PREVIOUSLY BUILT MODEL. Built with 2x6 construction and spray foam insulation, this home is as energy-efficient as it is sturdy, providing comfort and peace of mind. A walkable attic offers additional storage space and ease of access. Outside you will find wide-open spaces, ideal for outdoor activities, gardening, or simply soaking in the desert's natural beauty. The panoramic mountain views and towering saguaros offer a sense of tranquility and connection with nature that's hard to find elsewhere. Best part is, there's no HOA! Please note, buyers will need to secure a construction loan to complete the purchase.

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7210 S 255th Avenue Buckeye, AZ 85326

$750,000

4 Beds

2.5 Baths

2,459 SqFt

Status Active

MLS # 6771889

Property Type Single Family Residence

Price Type --

Stunning contemporary farmhouse constructed in 2022, nestled on a private acre of land. This home features exquisite luxury vinyl flooring, natural wood soft-close cabinets, and plantation shutters throughout. The well-equipped kitchen boasts an island, farmhouse sink, quartz countertops, a gas range with an electric oven, and a walk-in pantry. It flows seamlessly into a spacious great room with a cozy fireplace. The expansive yard includes an irrigation system, private well, and auxiliary water tank, providing plenty of space for entertaining friends and family in a tranquil setting!

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856 E Village Cir Drive Phoenix, AZ 85022

$750,000

4 Beds

2 Baths

2,006 SqFt

Status Active

MLS # 6762051

Property Type Single Family Residence

Price Type --

Full remodeled home located in the Villages HOA. Turn key. Additional upgrades include grass backyard, fencing, insulated walls, roof resurfaced, EV outlet, newer appliances, modern interior, new water heater, water softener, too many to mention it all. Will not last long. The lot itself is arguably the best in the development. If you never have been here it is like a little PV oasis. Shadow mountain views and desert buffer between neighbors.

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32290 W Happy Jack Trail Black Canyon City, AZ 85324

$750,000

2 Beds

2 Baths

1,827 SqFt

Status Active

MLS # 6766783

Property Type Single Family Residence

Price Type --

Beautiful well-built custom Ranch-Style home is perfectly designed for living in the Sonoran Desert as it integrates indoor-outdoor living, with drop-dead gorgeous views of the Bradshaw Mountains. A relaxed lifestyle that embraces open space to create a nice flow throughout. A well-appointed kitchen with an abundance of cabinets, a breakfast bar, large laundry room with a utility sink, great room with a fireplace, formal dining area with a beautiful bay window to take in the views. A generous master bedroom, with an oversized walk-in closet, private double door access to the back patio, and a beautiful master bathroom. Walk-in closet in the guest bedroom, office/den can be easily converted to create a 3rd bedroom. Covered front patio, large covered back patio and a veranda. Walk-in closet in the guest bedroom, office/den can be easily converted to create a 3rd bedroom. Covered front patio, large covered back patio and a veranda. 30x45 detached garage/workshop with an attached art/craft room complete this home. This home is Perfect for the outdoor enthusiast, being located adjacent to BLM makes it ideal for hiking and horseback riding.

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16946 W Baker Road Surprise, AZ 85387

New

$750,000

4 Beds

2 Baths

2,050 SqFt

Status Active

MLS # 6784181

Property Type Single Family Residence

Price Type --

Escape to the tranquil beauty of this impeccably maintained 4-bedroom Modern Farmhouse, nestled on a sprawling 1-acre lot with breathtaking mountain vistas and the freedom of no HOA! The kitchen boasts of high-end cabinets with 42'' uppers, elegant white quartz countertops, and stainless steel appliances, creating the perfect backdrop for culinary creations. Premium Trane AC units and high-end Pella windows ensure year-round comfort and energy efficiency. Outside, embrace the opportunity to indulge in equestrian pursuits, with ample space for horses to roam and thrive. Whether you're captivated by the serene landscape or drawn to the allure of country living, this Modern Farmhouse offers the perfect blend of modern amenities and rustic charm, inviting you to make lasting memories.

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2351 W Toledo Place Chandler, AZ 85224

$750,000

4 Beds

2.5 Baths

3,321 SqFt

Status Active

MLS # 6752612

Property Type Single Family Residence

Price Type --

Pride of ownership is shown in this remarkable residence featuring a spacious 3-car garage in Castille! New carpet, freshly painted bedrooms, custom walk-in closet for corner bedroom, and remodeled pool/backyard. Enjoy cozy nights at home by the charming fireplace in the family room! The well-appointed kitchen boasts white cabinetry, granite counters, a chic mosaic backsplash, stylish light fixtures, built-in appliances, & an island complete w/a breakfast bar. Discover a convenient loft providing the perfect spot for a reading area! The main bedroom showcases soft carpet & a private bathroom w/dual sinks. Host memorable gatherings in the amazing backyard including a swimming pool & a covered patio! Don't miss out!

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28275 N 168th Avenue Surprise, AZ 85387

$750,000

4 Beds

2 Baths

2,280 SqFt

Status Active

MLS # 6662260

Property Type Manufactured Home

Price Type --

Welcome to your ideal equestrian/winter retreat nestled on nearly 5 acres of pristine land. The heart of this home is the expansive kitchen, perfect for whipping up delicious meals for family & friends,Adjacent to the kitchen is a separate dining room, providing a cozy space for gatherings, fully furnished accommodating up to 10 people, the bedrooms offer a range of sleeping arrangements, including a queen bed in BR #1, 2 twin beds in BR #2, another queen bed in BR #3, and a full bed plus 2 twin beds in BR #4. horse enthusiasts, this property is a dream come true with facilities for up to 20 horses, including 12 pens with automatic waterers The horse pens are designed for flexibility, with various sizes available, including 5 covered pens measuring 12x40, 2 covered pens measuring 20x40

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31712 N 169th Avenue Surprise, AZ 85387

$750,000

4 Beds

2.5 Baths

2,800 SqFt

Status Active

MLS # 6669534

Property Type Single Family Residence

Price Type --

Brand new property that encapsulates luxury and functionality. This stunning residence boasts 4 bedrooms and 2.5 bathrooms, accompanied by a versatile Hobby Room. Expanding over 2800 SqFt, this home harmoniously blends spaciousness with coziness. With a 2 Car Garage and an additional 43ft RV Garage, set on a sprawling 1.1-acre lot, this property is a haven for practicality and adventure. Step inside to discover the timeless allure of wood plank tile flooring, complemented by quartz counters and elegant white shaker cabinets. The thoughtfully designed Jack and Jill bathroom enhances convenience and privacy. Nestled in a prime location, this home is nearby brand new Fry's Marketplace, Starbucks, Barro's Pizza, Jersey Mike's, and more!

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31730 N 169th Avenue Surprise, AZ 85387

$750,000

4 Beds

2.5 Baths

2,800 SqFt

Status Active

MLS # 6717678

Property Type Single Family Residence

Price Type --

Brand new property that encapsulates luxury and functionality. This stunning residence boasts 4 bedrooms and 2.5 bathrooms, accompanied by a versatile Hobby Room. Expanding over 2800 SqFt, this home harmoniously blends spaciousness with coziness. With a 2 Car Garage and an additional 43ft RV Garage, set on a sprawling 1.13-acre lot, this property is a haven for practicality and adventure. Step inside to discover the timeless allure of vinyl plank flooring, complemented by quartz counters and elegant white shaker cabinets. The thoughtfully designed Jack and Jill bathroom enhances convenience and privacy. Nestled in a prime location, this home is nearby brand new Fry's Marketplace, Starbucks, Barro's Pizza, Jersey Mike's, and more!

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4421 N 179th Drive Goodyear, AZ 85395

$750,000

5 Beds

3 Baths

3,469 SqFt

Status Active

MLS # 6722173

Property Type Single Family Residence

Price Type --

Single Level Pool and Spa Home with Swim-Up Bar and Outdoor Kitchen and 3 Car Garage! This single-level property offers the ultimate in outdoor living and entertaining. Featuring a luxurious pool and spa, you can relax and unwind in style. While the interior needs some TLC, it presents a fantastic opportunity to customize the home to your taste and preferences. Whether you are looking to make minor updates or complete a full renovation, this home is a blank canvas waiting for your personal touch. The unique swim-up bar and sunken covered outdoor kitchen with a seating area create a resort-like atmosphere right in your backyard. The exterior boasts extensive travertine hardscaped flooring and low-maintenance artificial grass, ensuring your yard remains beautiful all year round.

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6419 N 75th Avenue Glendale, AZ 85303

$750,000

3 Beds

2 Baths

2,701 SqFt

Status Active

MLS # 6730269

Property Type Single Family Residence

Price Type --

This home sits on over 21,000 square foot lot and is a unique single-story home with lots of potential. Two brick fireplaces and country galley kitchen. Unique home built from block construction offers an Arizona room and much more.

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