#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

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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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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3855 E Shannon Street Gilbert, AZ 85295

$750,000

4 Beds

3.5 Baths

3,352 SqFt

Status Active

MLS # 6777150

Property Type Single Family Residence

Price Type --

Beautiful Highly Upgraded home. Open Great Room floorplan with large dining, family room and kitchen nook. Oversized Waterfall Quartz Island Counter in kitchen with upgraded cabinetry, stainless appliances, gas cooktop with Chef Hood. Plank Tile Flooring throughout the first floor. Backyard with brick pavers, covered patio and green grass to enjoy. Master bedroom with separate Walkin shower, dual vanities, soaking tub and large Walkin closet. Large Loft area upstairs as a secondary family room with 3.5 baths and 4 full bedrooms. Custom lighting, window coverings and draperies throughout. Split 3 Car Garage with paver driveway. Beautiful Custom Iron Front door. Newer Subdivision in the heart of South Gilbert with plenty of shopping restaurants, schools and freeways nearby. This home is move in ready.

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2110 S Portland Avenue Gilbert, AZ 85295

$750,000

4 Beds

2.5 Baths

2,667 SqFt

Status Active

MLS # 6774251

Property Type Single Family Residence

Price Type --

Stunning Home in a Quiet, Secluded Neighborhood. This impressive residence sits on a spacious 10,554 sqft lot, offering a fantastic location just a short walk from San Tan Mall and a variety of amazing restaurants. Step inside to discover a terrific open floor plan, featuring a dramatic entryway and a beautiful mission-style staircase that wraps around the upper level. The master suite is conveniently located downstairs, while all other bedrooms are upstairs, along with a generous loft area. Each bedroom is well-sized, and the large laundry room adds to the convenience. The eat-in kitchen and upgraded flooring enhance the home's appeal, while the 3-car garage provides ample storage. Enjoy the privacy of having no neighbors to the south or behind you! SEE MORE... The backyard oasis features lush artificial grass and a sparkling pool, all beautifully designed with plenty of pavers. Plus, there's an RV gate and parking behind the gate. Your buyers will fall in love with this exceptional home!

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2718 E Bighorn Avenue Phoenix, AZ 85048

$750,000

5 Beds

3 Baths

3,254 SqFt

Status Active

MLS # 6771881

Property Type Single Family Residence

Price Type --

Welcome to your dream home in Mountain Park Ranch! This fantastic 5 bed, 3 bath tri-level gem is now available. With a charming brick veneer facade, artificial turf front yard, and a 3-car garage, this home has it all. Enjoy the cozy front patio and step inside to find a living area with vaulted ceilings and a bay window, plus a formal dining room perfect for gatherings. The family room features a dry bar for entertaining. The kitchen is a chef's delight with painted cabinetry, tile counters, a pantry, stainless steel appliances, and an island with a breakfast bar. The primary bedroom offers a walk-in closet and a full ensuite with dual sinks. Plus, enjoy the perks of a water softener, reverse osmosis, and a smart home alarm system—all included. Don't miss this opportunity! Also including a large backyard w/a covered patio, this home is simply a dream come true! Act now before it's gone!

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1644 Rupe Tank Road Williams, AZ 86046

$750,000

1 Bed

1 Bath

600 SqFt

Status Active

MLS # 6772902

Property Type Single Family Residence

Price Type --

Escape to your own secluded 10-acre homestead nestled in the heart of the woods just outside of Williams, AZ! Turn off the main forest road to drive another 1.5 miles past the gate on a well maintained private dirt road reaching your peaceful retreat to enjoy the serenity of forest life. Your property is a mix of an open meadow (fenced 3.5 acre horse run) and mature trees, providing privacy and abundant wildlife sightings. Use the onsite sawmill, welder, forklift, excavator and huge workshop to build your dream home, or enjoy the existing rustic cabin. Clear the winter snow with your provided snowcat or heavy duty truck and snowplow. Enjoy off-grid living at its finest with solar power and batteries to provide ample electricity, while being only 25 minutes to Williams or within 40 minutes to Flagstaff. This is your chance to create a nature-filled sanctuary away from the hustle and bustle. Please review the details in documents tab and pictures.

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9433 E Rocky Lake Drive Sun Lakes, AZ 85248

$750,000

4 Beds

3.5 Baths

3,166 SqFt

Status Active

MLS # 6774764

Property Type Single Family Residence

Price Type --

Wow. What a great opportunity to live in beautiful Oakwood Country Club on a corner lot. This beautiful home comes with TWO gorgeous master suites downstairs. Both have walk in showers, separate soaking bathtubs, twin sinks, and private toilet area. The bright, large, eat-in kitchen allows meals to be prepared while being involved with activities in the family room. A separate office is just off the front foyer. Upstairs has two more bedrooms and another full bath. Vaulted ceilings with sky lights bring amazing, natural light into the foyer. If outdoor living is a priority, this home has a large covered patio with custom-made solar shades that drop down and snap into the stucco columns to provide privacy and protection against the sun. Furnishings are included to make this turn key.

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