#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

1169 Buckskin Court Show Low, AZ 85901

$750,000

3 Beds

3 Baths

2,778 SqFt

Status Active

MLS # 6743700

Property Type Single Family Residence

Price Type --

Breathtaking VIEWS!! Watch the peaceful sunrise or the magnificent monsoon storms roll in while relaxing on your expansive back deck, or comfortably inside on your sofa through your wall of windows. This gorgeous home does not disappoint, being meticulously maintained, & has all the bells & whistles the most discerning folks are looking for, including: Light, open split bedroom floor plan; tongue & groove ceilings; maple cabinets; granite countertops; black stainless steel appliances; solid oak, luxury vinyl, and tile flooring; wood stove for cozy comfort on those chilly nights; a huge laundry room; tons of cabinet space; 2 car garage; & a fully finished basement, complete with bar/kitchenette, bathroom and copious amounts of storage; all of this on .63 acre of a park like yard!

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2976 E Country Shadows Street Gilbert, AZ 85298

$750,000

5 Beds

3 Baths

3,064 SqFt

Status Active

MLS # 6745500

Property Type Single Family Residence

Price Type --

This gorgeous home has been made even more beautiful with carefully crafted updates. Repositioned kitchen island with new quartz counter tops, upgraded backsplashes, refinished cabinets and a sleek stainless steel vent hood. This floor plan includes a bedroom and full bathroom downstairs and two separate garages (a 1 and a 2) with direct interior access. New woodplank tile flooring on first floor. Upgraded taller baseboards. Huge formal living and dining overlooks the pool from a wall of windows. Upstairs has four bedrooms and an office nook. Primary bedroom is oversized for even the largest furnishings. Two walk in closets and a remodeled en suite bathroom. Backyard has a resurfaced pool with new deck, built in BBQ, firepit and turf. List of updates available. This is a beauty! Must see!

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31106 N 138th Avenue Peoria, AZ 85383

$750,000

5 Beds

4.5 Baths

3,179 SqFt

Status Active

MLS # 6746944

Property Type Single Family Residence

Price Type --

Luxury meets nature in this stunning 5 bedroom, 4.5 bathroom home that backs up to a nature preserve! It is a true sanctuary, boasting breathtaking mountain views and no neighbors behind—ever! Step inside to discover a versatile den, spacious loft, and two primary bedrooms - one upstairs and one downstairs! The primary bedroom upstairs features a private balcony, perfect for enjoying beautiful sunsets over the serene nature preserve, and complete with his and hers walk-in closets. Step outside to a low-maintenance backyard with a sparkling saltwater pool, waterfall spa, and plenty of space to entertain or unwind. Nestled in a community with top-notch features and with access to hiking/biking trails just down the street, this home offers the perfect blend of luxury and outdoor adventure. Home features include epoxy garage floors, 3 car garage connected inside, pre-plumbed for sink in garage, huge understairs storage, and pool automation that you can control from your phone! Pool fence is available in garage cabinet.

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14562 W Georgia Avenue Litchfield Park, AZ 85340

$750,000

4 Beds

3.5 Baths

3,022 SqFt

Status Active

MLS # 6748823

Property Type Single Family Residence

Price Type --

Your dream home is finally here! Start living in this gorgeous residence in Palm Valley! A 3-car garage with a paver driveway, RV gate, and gated courtyard are just the beginning. Enter to discover a spacious open floor plan that promotes a modern feel. Pre-wired surround sound, tile flooring, high ceilings, stylish light fixtures, and upscale ceiling fans add to the overall decor. Don't miss the formal dining room and the bonus room that can be used as a media room! Spotless kitchen is a chef's delight, equipped with abundant cabinets with crown moulding, recessed & pendant lighting, granite counters, a prep island with a breakfast bar, top-of-the-line stainless steel appliances, and a walk-in pantry. Large main retreat boasts plush carpet, outdoor access, and a stunning ensuite bath. Two vanities, make-up desk, soaking tub, shower with a drying area, and a walk-in closet with an organizer complete the picture. One Jack & Jill bathroom! Enjoy mountain views from the serene backyard, showcasing a roof deck, covered patio, pavers, fire pit, and built-in bench. This turn-key gem awaits you!

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38500 N School House Road Unit 45 Cave Creek, AZ 85331

$750,000

4 Beds

2.5 Baths

2,292 SqFt

Status Active

MLS # 6750894

Property Type Single Family Residence

Price Type --

Premium private lot that sides to the common area. Newer 2021 built single level 4 bed 2.5 bath home w/ an office & a 2 car garage in the heart of Cave Creek! Open floorplan w/ the primary bedroom split from the secondary bedrooms. Wood-like tile throughout. Kitchen is open to the family room w/ dark expresso cabinets, huge island w/ quartz counters, a dramatic waterfall edge, w/ seating & pendant lighting above. A pantry, upgraded SS appliances, gas range, a hood & a breakfast nook seating area. Primary bedroom has a barn door that closes off the primary bathroom & includes dual sinks & separate tub & shower. Tankless water heater. Backyard w/ custom pavers & sprinklers. Amenities include community pool, spa, firepit, & pickleball court. 5 min walking distance to the Town of Cave Creek

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8319 E Bonnie Rose Avenue Scottsdale, AZ 85250

$750,000

4 Beds

2 Baths

1,828 SqFt

Status Active

MLS # 6754029

Property Type Single Family Residence

Price Type --

Entertainers Paradise! This stunning 4 bedroom open concept home has updates galore! Flooring is American Hickory Wood and Oversized modern tile! Kitchen and bathrooms have modern backsplash along with stainless steel appliances. 4th bedroom has additional outside entrance and massive walk in closet. Backyard has an awesome ramada and built in firepit. Sparkling diving pool has access from main backyard entrance and master bedroom and backyard is a perfect oasis with generous pavers, artificial turf and plenty of space! This beauty is situated just minutes from Old Town Scottsdale night life, Talking Stick Casino, Top Golf Entertainment, Chapparal Park, Lakes and Aquatic! Home is well maintained and is a steal at this price! Come Quick!

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4442 E Aire Libre Avenue Phoenix, AZ 85032

$750,000

3 Beds

2 Baths

1,524 SqFt

Status Active

MLS # 6770431

Property Type Single Family Residence

Price Type --

Come see this nicely renovated home. All done in 2020. Well-appointed kitchen w/large Center Island, modern Quartz counters, white shaker Cabs w/42'' uppers. SS appliances W/Fridge. Breakfast nook. All overlooks large great room W/Elevated pitched ceilings & slump block fireplace. Beautiful wood look flooring throughout. Master retreat w/walk-in closet, sliding glass door to backyard & pool. Elegant master shower w/white subway tile, glass enclosure, suspended vanity & modern bathroom accents. Guest bath updated w/white shower tile, suspended vanity & rich bathroom accents. Inside laundry. Ceiling fans throughout. Huge backyard w/Pool, large grassy area for kids, covered patio that was extended with custom Belgard Catalina slate pavers. RV gate perfect for boat or trailer! Garage has an extra alcove for storage and custom epoxy floor. Close to the 51 & 101Freeways. Minutes to the soon to be fully renovated Paradise Vally Mall. And close to Desert Ridge Mall. Don't miss this solid built slump block home in great neighborhood!

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20445 W Springfield Street Buckeye, AZ 85396

$750,000

5 Beds

3.5 Baths

2,974 SqFt

Status Active

MLS # 6772559

Property Type Single Family Residence

Price Type --

Prepare to be amazed! Check out this fantastic 5 bed, 3.5 bath residence now for sale in the prestigious Community of Verrado! Stunning curb appeal, a large front yard w/lush natural turf, a 3 car garage w/back alley access, and a welcoming porch are just the beginning. Discover a spacious living area w/soaring ceilings, tile flooring, and plantation shutters. You'll also find a formal dining room w/tray ceilings, ideal for hosting a dinner party! The gourmet kitchen is comprised of painted cabinetry w/crown moulding, granite counters, stainless steel appliances such as dual wall ovens, a prep island, and a breakfast nook. The primary bedroom showcases a walk-in closet and a full ensuite w/dual sinks for added comfort. The upper level boasts access to a lovely balcony, where you can sit back and enjoy a relaxing afternoon. Don't forget about the cozy den, perfect for an office or reading nook! Detached casita also includes their very own kitchenette for the convenience of your guests. Lastly, the wonderful backyard features a covered patio, extended seating area w/a fire pit, and a sparkling blue pool/spa combo! The home of your dreams is here, hurry and act now before it's gone!

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808 W Avalon Drive Phoenix, AZ 85013

$750,000

4 Beds

2.5 Baths

2,187 SqFt

Status Active Under Contract

MLS # 6759742

Property Type Single Family Residence

Price Type --

Charming home located in the historic neighborhood of Campus Vista. This 2,100+ SF residence has been beautifully updated for modern living. Enjoy corner windows for natural lighting, that embrace the character of the home. The living and dining rooms feature built-in storage and access to a covered terrace. Kitchen is complete with granite countertops, stainless appliances, glass tile backsplash, and gas cooking. Spacious bedrooms with large walk-in closets. Guest bath offers a separate tub and shower, while the split primary suite offers a slider to the terrace, dual sinks, and jetted tub. Additional features include a carport, extra parking pad, and gated access to a detached two-car garage. Enjoy your private grassy backyard, lush greenery, and the option for flood irrigation. Campus Vista came to be in the 1940's and housed students and faculty for the then new Phoenix College. Just a 5 min walk down the street. Conveniently located just minutes from the Downtown area. Near Banner University Hospital, St. Joe's Hospital, Phoenix Children's, and many more medical facilities. Encanto Park just minutes away with nature trails, fishing ponds, a boathouse, park rides, and two golf courses. A wide variety of restaurants and shops all around. Quick access to the freeways.Embrace this perfect blend of charm and convenience!

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9648 E Rainbow Avenue Mesa, AZ 85212

$750,000

5 Beds

4 Baths

2,942 SqFt

Status Active Under Contract

MLS # 6690254

Property Type Single Family Residence

Price Type --

Welcome to contemporary living! This striking home boasts modern curb appeal with charming brick accents and lush turf landscaping, setting the stage for unparalleled elegance. Step inside and prepare to be captivated by the seamless fusion of style and functionality. The kitchen serves as the heart of the home, showcasing sleek white cabinets and modern hardware that exude timeless allure. Experience the utmost convenience with a single basin sink and coveted pots & pans drawers, ensuring effortless organization and efficiency in culinary endeavors. The expansive primary bedroom, conveniently located downstairs, offers a retreat of unparalleled luxury and comfort. (CLICK TO READ MORE) Pamper yourself in the lavish ensuite bathroom, featuring dual sinks and a sumptuous soaker tub, all complemented by a stunning subway tile backsplash that ascends to the ceiling, adding a touch of contemporary flair. Venture upstairs to discover a thoughtfully designed layout, with a loft space and two additional bedrooms, providing ample space for rest and relaxation. The upstairs bathroom offers convenience and privacy, ensuring comfort for all occupants. Modern amenities abound in this exquisite home, including a tankless water heater for endless hot water supply and a spacious 3-car garage with a convenient pull-through feature, offering unparalleled functionality and convenience. Just like a world-class resort, this community offers a luxurious community pool, splash pads, numerous parks spread throughout, the Steadfast farm, the Handlebar Diner, and its very own state-of-the-art clubhouse The Mark. The Mark hosts events throughout the year and a wide variety of family-friendly games to play. Experience the pinnacle of luxurious living in this immaculate home.

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39447 N Kennedy Drive San Tan Valley, AZ 85140

$750,000

3 Beds

2 Baths

1,905 SqFt

Status Active Under Contract

MLS # 6740999

Property Type Manufactured Home

Price Type --

Buyer failed to perform!!! Amazing potential on this 3bed 2 bath, 3.70 acre horse property located just a stone's throw away from town, you'll have easy access to shopping dining and local amenities making this home an ideal choice for those seeking balance of rural charm and urban convenance. 3 Large pastures, flood irrigation and covered stalls are just a few bonuses that this property has to offer. Come see for yourself!

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10605 E Kilarea Avenue Mesa, AZ 85209

$750,000

4 Beds

3 Baths

2,880 SqFt

Status Active Under Contract

MLS # 6755013

Property Type Single Family Residence

Price Type --

Split 4 bedrooms and 3 full baths, accompanied by a versatile teen area that may effortlessly transform into a 5th bedroom. Spanning almost 2900 sqft, this home features a refreshing pool and a spacious private backyard with a patio, offering unobstructed views without rear neighbors. The 3-car garage comes with additional storage drop-down ceiling rack shelves. The gourmet kitchen has new appliances, refinished cabinets, and a sizable island, while a walk-in pantry adds to its modern allure. The Main Bedroom suite includes an opulent tub and shower, complemented by a generous walk-in closet. A tranquil oasis awaits in the backyard, where a large patio and sparkling pool create an ideal space for relaxation and entertainment.

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