#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

40040 N Lytham Way Anthem, AZ 85086

$750,000

4 Beds

3.5 Baths

3,304 SqFt

Status Active

MLS # 6760680

Property Type Single Family Residence

Price Type --

Sonoma floor-plan with four bedrooms, office/bonus room. Spacious kitchen, kitchen dining, kitchen island. An abundance of cabinets and counter space. Large open living room and dining room. Master bedroom with dual vanities plus plenty of closet space. Guest bedroom with full bath and another two bedrooms with Jack n' Jill. Tile in all the right places. Inviting backyard with large covered patio & electronic roll shades. Back patio is great for relaxing mornings & evenings. 3 car garage for plenty of storage or golf cart.

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38065 N Cave Creek Road Unit 4 Cave Creek, AZ 85331

$750,000

3 Beds

3 Baths

2,272 SqFt

Status Active

MLS # 6766548

Property Type Townhouse

Price Type --

Amazing Southwestern-style townhome located in the beautiful, gated community of Rancho Villas in Cave Creek. Spacious 2272 sq ft with 3 bedrooms all with their own ensuite. Master bedrooms on the first and second floor. The master on the first floor features a fireplace for those cooler winter nights, large walk-in closet and access to the gorgeous patio. The upstairs master also has a walk-in closet with access to the view deck providing incredible mountain views. The great room with its own fireplace connects to the dining area that leads into the remodeled kitchen with additional eat-in dining. The home has been heavily upgraded with close to $150,000 in upgrades. Some of the upgrades include the kitchen, bathrooms, flooring, windows, appliances, shutters, HVAC, BBQ and built in BBQ structure and more. The spacious patio also has a beehive fireplace, plenty of space, soothing fountain and is conveniently located next to the 2-car garage. Rancho Manana is located across from the community with golf and the delicious Tonto Grill. Other entertainment, restaurants, hiking, and shopping are only minutes away.

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3363 E San Xavier Road Sierra Vista, AZ 85635

$750,000

3 Beds

4 Baths

2,398 SqFt

Status Active

MLS # 6761975

Property Type Single Family Residence

Price Type --

Discover this stunning home in Ranchos Carmela, set on nearly 2 acres. The expansive great room features a pellet/wood stove hook up, while the spacious kitchen boasts ample storage. This split bedroom layout offers 3 bedrooms and 2 baths on one side, with 2 en-suites bedrooms and a luxurious master suite with a separate tub and large shower on the other. Enjoy the convenience of a spacious laundry room, an oversized 3-car garage with an EV plug, and a built-in BBQ on the patio. A 1024 SF workshop awaits with an office, full bath, pellet stove, and air compressor—perfect to convert to a guest house or keep it as hobby space. Additional features include 2 full RV hookups, extensive paved parking, beautiful epoxy flooring in the garage and shop and a lot surrounded by mature trees.

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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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7601 E Indian Bend Road Unit 2054 Scottsdale, AZ 85250

$750,000

2 Beds

2 Baths

1,625 SqFt

Status Active

MLS # 6764793

Property Type Apartment

Price Type --

Come see this delightful 2 bedroom home at Corriente Condominiums! This 2nd level condo offers a bright & large open floor plan with soft tan paint, carpet, recessed lighting, and wall crown moulding. The living area features a 2-way fireplace shared with the sizable den. The functional kitchen boasts abundant storage inside the tall espresso cabinets, granite counters & backsplash, and stainless steel appliances. The primary bedroom hosts a spacious bathroom with two sinks, a step-in shower, and a walk-in closet. Laundry room inside with attached cabinetry. This end-unit allows fantastic views of the lake & mountains. This fabulous community includes heated pool & spa, media room, clubhouse, golf course, and workout facility. Gracious living at its finest! Don't miss this opportunity!

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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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20750 N 87th Street Unit 2119 Scottsdale, AZ 85255

$750,000

3 Beds

2 Baths

1,825 SqFt

Status Active

MLS # 6764782

Property Type Apartment

Price Type --

Welcome to luxury living in the prestigious Encore community in Grayhawk! This 3-bedroom, 2-bathroom condo offers an exceptional blend of comfort and sophistication. The open layout features a large breakfast bar and a dedicated dining room for those special gatherings. And the split floorplan, provides bedrooms which are perfectly situated for privacy. Step onto the spacious patio and enjoy the peace and quiet of the open space while looking at the beautiful desert landscape—a perfect setting for morning coffee or evening relaxation. The location is a dream for both golf enthusiasts and foodies, as it's within walking distance to the Grayhawk Golf Club and the shops and restaurants at DC Ranch Market Street. Indulge in the excitement of nearby events such as Barrett Jackson and the Waste Management Open, or explore upscale shopping at the Scottsdale Quarter and Kierland. The Scottsdale Airpark is just a short drive away, providing convenience for frequent flyers. Nature lovers will appreciate easy access to the McDowell Mountain Gateway hiking trails. Custom window treatments, an epoxy garage floor, a custom media cabinet, new light fixtures in 2024 and a new water heater in 2021 add to the allure of this exceptional home. Easy to move right in and start enjoying the upscale lifestyle Encore has to offer. This charming gated community offers a resort-style pool and spa, creating a serene atmosphere. The property is perfect for those seeking a lock-and-leave lifestyle. With proximity to the 101 freeway, you have quick and easy access to explore all that Scottsdale has to offer. From fine dining to world class shopping, top notch golf courses and exceptional weather, Scottsdale is a perfect for full time residents or part time vacationers. Don't miss the opportunity to make this elegant condo your own. Come tour this home and experience the epitome of desert living in the heart of Grayhawk's Encore community. What a great place to call home!

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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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