#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

15028 N 9th Street Phoenix, AZ 85022

$750,000

3 Beds

2 Baths

1,773 SqFt

Status Active

MLS # 6730661

Property Type Single Family Residence

Price Type --

Back ON THE MARKET. Buyers were unable to remove Contingency...3 bedroom +office...Awesome Moon Valley location...Remodeled in 2016.

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3291 E Latham Way Gilbert, AZ 85297

$750,000

4 Beds

2 Baths

2,703 SqFt

Status Active

MLS # 6781488

Property Type Single Family Residence

Price Type --

You can look everywhere but you will not find a more cared for and well maintained home. Original owners since new in 2001. Nearly every moving part of this home has been updated since new, every surface is fresh and clean and ready for a new owner. 2,700SF all on one level on a quiet street in Coronado Ranch. 3 car garage with a tons of additional parking out front and a full size RV with plenty of additional room for vehicles or trailers. Wide open great room with an additional bonus/flex space. Walk in pantry and a huge laundry room + utility room, plenty of storage throughout the home as well. Easy freeway access, nearby dining and shopping at San Tan Mall and one of the most desirable communities in the South East Valley.

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6702 E Almeria Road Scottsdale, AZ 85257

$750,000

3 Beds

2 Baths

1,619 SqFt

Status Active

MLS # 6782195

Property Type Single Family Residence

Price Type --

Beautiful and classic 3 bedroom, 2 bathroom brick home, tucked into the center of a highly sought after Scottsdale neighborhood. This gorgeous home showcases a spacious living room, formal dining area, stunning updated bathrooms and a gorgeous backyard perfect for hosting. The backyard also includes a large storage shed, lots of turf for play and a spacious covered patio. Situated close to excelling public and private schools, parks, Old Town Scottsdale, and the 101 freeway, it's in a prime location for convenience and entertainment. $760,000 appraisal available for view in the documents tab.

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2931 N 8th Avenue Phoenix, AZ 85013

$750,000

4 Beds

3 Baths

1,896 SqFt

Status Active

MLS # 6782661

Property Type Single Family Residence

Price Type --

Experience the charm of this historic oasis in Central Phoenix, featuring a delightful main house with 3 bedrooms and 2 bathrooms, plus a detached 1-bedroom, 1-bath casita. This inviting property blends comfort and versatility, with spacious bedrooms bathed in natural light, updated bathrooms, and a cozy living room with large windows. The stylish kitchen boasts modern appliances, while the adjoining dining area is perfect for entertaining. Beautiful hardwood and tile floors add warmth throughout. Step outside to a resort-style backyard with an Altera cold & hot spa, ideal for relaxation and outdoor gatherings. The detached casita offers a private retreat, perfect for guests, in-laws, or rental income potential. A gated 3-car covered carport completes this remarkable home. Historical registration adds a touch of prestige to this one-of-a-kind property.

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6716 E Grandview Drive Scottsdale, AZ 85254

$750,000

3 Beds

2 Baths

1,708 SqFt

Status Active Under Contract

MLS # 6778183

Property Type Single Family Residence

Price Type --

Perfect Lock & Leave or Primary residence in Scottsdale's hottest zip code.This beautifully updated residence features a desirable split floor plan, wood-look LVP flooring throughout the main living areas & seamless flow between rooms. Updated kitchen is a chef's delight boasting stainless appliances & sleek quartz counters. Enjoy casual meals at the convenient breakfast bar, or entertain friends & family in the spacious dining area. Expansive master suite offers a peaceful retreat, complete with en-suite bath featuring a dual sink vanity & large tiled walk-in shower. There are two additional well appointed bedrooms. Step outside to the serene backyard featuring a shaded pergola & sparkling pebble tec heated pool. Walking distance to Kierland/Quarter for the BEST shopping & dining. Funiture & Jeep are available on separate bill of sale.

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511 School Street Jerome, AZ 86331

$750,000

3 Beds

3 Baths

1,736 SqFt

Status Active Under Contract

MLS # 6745290

Property Type Single Family Residence

Price Type --

Don't miss this opportunity, many possibilities! Zoned C-1 with CUP for residential use, custom built property completed in 2007. Priceless panoramic views of Sedona & the Four Peaks of Flagstaff located steps away from historic downtown Jerome. This turn key Airbnb offers three separate suites, live in one or rent the entire home. Downstairs features 2 separate en-suites. Upstairs has been beautifully remodeled with Porcelain wood plank tile floors throughout, newer appliances in kitchen, open and bright with lots of windows for views, new paint inside out and pavers. Master suite deck is the perfect place to watch the sunset. Enjoy nature in the lush backyard and 8 ft waterfall feature. Make this your home today! Other listing MLS 6745291

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8310 E Indian School Road Scottsdale, AZ 85251

$750,000

3 Beds

2 Baths

1,724 SqFt

Status Active Under Contract

MLS # 6771544

Property Type Single Family Residence

Price Type --

This beautifully renovated home offers a seamless blend of luxury, relaxation, and community charm. The backyard is a true showstopper—completely transformed in 2023, it features a sparkling pool, lush landscaping, and a covered patio. Step inside, and you'll find that every detail has been thoughtfully curated, from the serene steam shower and oversized soaking tub in the primary bathroom to the fresh paint and updated features throughout the home. The home is flooded with natural light, and 8-foot privacy walls in the backyard offer a sense of seclusion and tranquility, perfect for entertaining or simply spending time with family. Recent updates include fresh landscaping in both the front and back, new appliances, and updated fixtures, making this home truly move-in ready. Beyond the home, the vibrant neighborhood is full of life and community spirit. Enjoy a short walk to Chestnutt and Indian School parks, or take a 5-minute Uber to Old Town Scottsdale for dining, shopping, and nightlife. With regular neighborhood events, from movie nights in the park to the annual Halloween block party, you'll quickly feel at home in this close-knit community. With quick access to Scottsdale's greenbelt, local coffee shops, fitness studios, and some of the city's best restaurants, this location is unbeatable. Don't miss your chance to own this stunning retreat in one of Scottsdale's most desirable areas!

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19810 N 68th Drive Glendale, AZ 85308

$750,000

5 Beds

2.5 Baths

3,596 SqFt

Status Active Under Contract

MLS # 6764106

Property Type Single Family Residence

Price Type --

Room for the entire family! Nearly 3,600 sq ft of livable space overlooking the greenbelt/ golf course in this highly desired Arrowhead neighborhood. Nearly $30,000 in recent improvements including a new roof in 2022! Throughout you will notice tile floors (no carpet), new 5'' baseboards, fresh interior/exterior paint, new light fixtures/ hardware, plantation shutters, vaulted ceiling & large windows providing an abundance of natural light. The kitchen overlooks the living room/ backyard with great views featuring Thomasville cabinets, corian countertops, SS appliances (gas stub for stove & the fridge is included), pantry & Island with seating. There are 5 large bedrooms & a den (one of which has double doors would make a great loft, media room, etc.) The master suite is spacious with views of the common area, huge walk-in closet, double vanities, soaking tub & tiled shower with frameless glass. Large 3 car garage with built in cabinets. The driveway can easily fit 5 cars & there's an RV gate with parking behind it as well. Step out back for the best part about this house, the lot! Large covered patio, pebbletec pool with variable speed pump, grass & mature citrus trees. Great views & access to the common area through your private gate. It's like having a 1 acre backyard that your HOA maintains for you! Conveniently located within walking distance of schools, shopping & entertainment. Walking distance to Arrowhead country club/ fitness center. Close to hiking/biking trails at Thunderbird park or along the river bottom (100+ miles of trails). Deer Valley school district with A+ schools. Half mile from Arrowhead hospital, the new Phoenix Children's Hospital & other medical offices. Less than 3 miles to Arrowhead mall & anything else you could possibly want! If you need to commute to other parts of town the 101 freeway is just a half mile away.

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2907 E Sierra Street Phoenix, AZ 85028

$750,000

4 Beds

3 Baths

1,834 SqFt

Status Active Under Contract

MLS # 6772110

Property Type Single Family Residence

Price Type --

Welcome home to your beautiful designer remodel in North Phoenix! Everything here is beautiful and NEW. In the Kitchen you'll find modern wood frameless Cabinets, White GE Cafe Appliances, Champagne Bronze Hardware, and Quartzite Countertops! Inside, you also have a beautiful open floor plan, wide-plank LVP throughout, four bedrooms, and three full baths, including the upstairs bed/bath, which would make a PERFECT Office. Outside, you have an oversized yard to enjoy those AZ Sunsets, with a sparkling resurfaced pool and plenty of turf! With a beautiful new interior, great neighborhood, three-year roof, tankless water heater, and perfect North Phoenix location, there's nothing left for you to do here but move in! Don't miss your opportunity; take a look today!

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26037 S Valencia Avenue Queen Creek, AZ 85142

$750,000

4 Beds

2 Baths

1,714 SqFt

Status Active Under Contract

MLS # 6768712

Property Type Single Family Residence

Price Type --

A beautiful irrigated mini ranch in Queen Creek AZ! This property has it all for the horse & animal lover! Perfectly set up w/ a large fenced grass pasture at the back, growing lush bremuda for the animals to graze. Large back yard to play, & fenced animal pen, next to another fenced side mini pasture that could also grow crop to graze. Huge mature trees offering shade to the animals! The gorgeous home has an open floor plan recently remodeled. All new paint interior and exterior. Kitchen has granite counters, farmhouse sink & new appliances. Wood/lam floors & all new carpeting. Master suite w/ private bath & walk in closet. Guest rooms w/ ample space, & full guest bath, 2+car garage. Mountain views, country living, yet close to all amenities. NEW AC & ROOF: 8/21 NEW WATER HEATER 8/22.

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2605 E Beekman Place Phoenix, AZ 85016

$750,000

2 Beds

2 Baths

2,082 SqFt

Status Active Under Contract

MLS # 6774337

Property Type Single Family Residence

Price Type --

VA ASSUMABLE LOAN at 3%. Live in a Central Phoenix gem community built by renowned builder / architect team Dell Trailor and Ralph Haver. Fully remodeled with open floor plan, spacious bedrooms and bonus space. Fabulous granite counters, new cabinets, fixtures and lighting throughout living space. Indoor laundry with built-in storage and storage closets in garage as well. Direct access to the pool out your back gate. Fantastic value. Great lock and leave and very convenient to the Biltmore, Camelback corridor restaurants, shopping and Phoenix Sky Harbor airport.

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2033 E Laguna Drive Tempe, AZ 85282

New

$750,000

5 Beds

3 Baths

2,897 SqFt

Status Active

MLS # 6783461

Property Type Single Family Residence

Price Type --

A Rare High-End Bradley Built Total Custom - Attached Full Guest Quarters w/ Side Entrance -Large 4BR 3BA - 2.5 Car Garage - Slump Block Construction - 1/3 Acre Lot - High End Stone Coated Metal Roof - Dual Pane Windows Throughout - Spacious Rear Patio - Extended Driveway - Only 1-Owner - Close to Popular A-Rated Ward School & Rotary Park - NO HOA!! - Must See Soon!

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