#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

2162 E Carla Vista Place Chandler, AZ 85225

$749,999

5 Beds

3.5 Baths

3,135 SqFt

Status Active

MLS # 6743061

Property Type Single Family Residence

Price Type --

Discover this stunning 5-bedroom, 3.5-bath home ready for its new owners in Chandler! Enter into a spacious living/dining area with soaring ceilings. The flow of natural light through the large windows adds to the inviting ambiance, making this room a focal point for family life. The large kitchen flows seamlessly into the family room, perfect for gatherings. A main-level bedroom and bath offer an ideal home office or guest suite. The oversized master suite features a luxurious bath with a soaker tub, separate shower, and double sinks. Upstairs, a cozy loft awaits your relaxation. The kitchen boasts granite countertops, a pantry, breakfast bar and study nook, with plantation shutter windows. Step outside to your private backyard with a covered patio, lush greenery, and built-in BBQ...

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10433 S 27th Avenue Laveen, AZ 85339

$749,999

4 Beds

3 Baths

2,772 SqFt

Status Active

MLS # 6714700

Property Type Single Family Residence

Price Type --

Reduced! REDUCED!! REDUCED!!! Seller is MOTIVATED! Nestled in the foothills of South Mountain, come see this custom home built on 1+ acres of natural desert! With a front and back patio, a balcony and a deck that overlooks Phoenix, this home will surely captivate your heart! This BEAUTIFUL home features 4 bedrooms, 3 bathrooms, a living room & a family room with a fireplace. The kitchen includes matching Whirlpool black stainless steel appliances and granite countertops. In the primary, you'll find a bathroom with double sinks, a separate shower & jetted tub and a walk-in closet. There are ceiling fans in all rooms, including the living room, family room and dining area. No HOA. Your future home awaits!

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6632 W Saguaro Park Lane Glendale, AZ 85310

$749,999

5 Beds

3 Baths

3,207 SqFt

Status Active

MLS # 6752443

Property Type Single Family Residence

Price Type --

Beautifully updated 5-bedroom, 3-bathroom home with a fully-paid $41K Solar system (14.58 kW) installed in 2023 and breathtaking Mountain views from most windows in this peaceful North Peoria-Glendale neighborhood. The open-concept great room and family room are perfect for gatherings of all sizes. The modern kitchen features stainless steel appliances, new vent hood, and a stylish backsplash. Upstairs Loft provides extra living space. The spacious primary bedroom suite includes a luxurious retreat with a sitting area, walk-in closet, tiled shower, and dual sinks. The large bedrooms will be perfect for your entire family. Tandem garage has been converted into a versatile studio with a kitchen, ideal for a guest suite or home office. Downstairs half-bathroom converted to include a shower. Experience Arizona's outdoor living in your lush green backyard oasis, complete with a covered patio, custom-designed natural gas fire pit, and dual vegetable garden planters. The front yard features mature landscaping with extended paver walkways and driveway creating an immaculate curb appeal. Conveniently located near Lifetime Fitness, CCV, hiking trails, and several top-rated Shopping and Dining options. Minutes from, easy access to the 101 and I-17 highways. This home is move-in ready with Brand New carpet and fresh paint inside and out. - A true gem.

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21353 S 213th Street Queen Creek, AZ 85142

$749,999

3 Beds

3 Baths

2,920 SqFt

Status Active

MLS # 6760713

Property Type Single Family Residence

Price Type --

Semi-custom elegance at a close-in Queen Creek location. The split, great room floor plan you love with a generous area for entertaining all of your favorite people, and a beautifully designed yard to bring the party outside with low maintenance landscaping, a lovely fire pit and 25 foot pergola for enjoying peaceful evenings. The gorgeous gourmet kitchen with upgraded white cabinets, stainless steel, miles of granite counters and a walk in pantry offers a large eat in area, breakfast bar AND a formal dining space.Relax and unwind in the primary ensuite bedroom sanctuary with his/her closets, and melt your cares away in the large soaking tub, or enjoy the luxury walk in shower. Split vanities are just the start of the high end upgrades which have been thoughtfully selected: wood look tile throughout most of the home, designer lighting, a security screen door and three year old multi zoned a/c unit combines a feeling opulence with energy and cost savings. Two large secondary bedrooms provide space for everyone and their gear, and the den/office can be used as a fourth bedroom. Room for all your toys with a split 3 car extended length, over height garage with cabinets galore, RV gate so you can enjoy your time away from the home as much as you'll love being in it. Surrounded by biking/walking paths and parks, this impressive neighborhood shows pride of ownership and offers nearby shopping, dining and entertainment. This is a gem of a home that you need to see to appreciate.

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2629 S Country Club Way Tempe, AZ 85282

New

$749,997

4 Beds

2 Baths

1,929 SqFt

Status Active

MLS # 6783934

Property Type Single Family Residence

Price Type --

**NOTHING QUITE LIKE THIS ON THE MARKET**UNIQUE subdivision with 8ft walls around the perimeter of the property provides the dream-life of leaving doors and windows open, especially this time of year! Shell beach flooring, Italian marble tile around the fireplace. Linear exterior lighting package, modern glass garage door, engineered wood, hexagon tile, Granite countertops throughout the kitchen. 8 ft walls provide stellar privacy making this a super private home, or a great rental property as well! No HOA! Best part, solar panels Keep our utility bill around $200 all summer long and around $200 all winter long even with the pool heater on daily!

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10059 E Thunderbolt Avenue Mesa, AZ 85212

Open House

$749,995

4 Beds

3.5 Baths

2,790 SqFt

Status Active

MLS # 6775906

Property Type Single Family Residence

Price Type --

Nestled in the Master Planned Community of Cadence you will enjoy all the amenities beyond your neighborhood. You will have access to community parks, pool, playground, and community center. This home is complete with top-tier design features in a desirable location, this is the home you've always dreamt of. The enormous kitchen boasts name-brand appliances, upgraded countertops, and ample cabinet space. Backyard areas provide ample space for activities, a pool to be installed, grilling, and vacationing at home. The personalization options are boundless with expertly designed finishes available throughout the home. This home gives you easy access to major commuter routes. Be the first to see this gorgeous home in person by scheduling a tour today!

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11462 E Utopia Avenue Mesa, AZ 85212

$749,990

6 Beds

4.5 Baths

4,179 SqFt

Status Active

MLS # 6735295

Property Type Single Family Residence

Price Type --

''Introducing this stunning six-bedroom, 4 1/2 bathroom home with an office and loft, boasting 10-foot ceilings on both levels. The famhouse style exterior features a paver driveway and inside the home features 8-foot doors with satin nickel handles. With a 4 Panel Center slider off the great room, the space is bathed in natural light. Inside, find 8 x 36'' wood-look tile throughout the main areas and 4 1/4 inch baseboards. The primary bathroom showcases an enlarged shower, separate soaking tub, and dual vanities. Brushed nicke bath faucets and upgraded vanity lighting adorn all bathrooms. The kitchen is a chef's dream with a 36-inch gas cooktop, separate wall oven, built-in microwave, painted shaker cabinets with hidden trash pull-out, satin nickel cabinet hardware, quartz countertops, and designer tile backsplash. This home is the epitome of luxury and comfort.

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28648 N 165th Avenue Surprise, AZ 85387

$749,990

4 Beds

3.5 Baths

3,068 SqFt

Status Active

MLS # 6768369

Property Type Single Family Residence

Price Type --

This charming 4-bedroom, 3.5-bath property is nestled on an expansive 1.2-acre lot with NO HOA! You're greeted by a living room with a soothing palette, blinds, and wood-look flooring. The family room includes a stone-clad fireplace for relaxing evenings with loved ones. The eat-in kitchen comes with quartz counters, abundant wood cabinetry with crown moulding, recessed lighting, stainless steel appliances, a pantry, and a center island for added prep space. The sizeable main bedroom offers a walk-in closet and a private bathroom with double sinks. Outdoors, you'll find a covered patio with an extended pergola, a built-in BBQ with a dry bar, a barn shed, a well-kept lawn, a relaxing spa, and a pool for cooling down on hot summer days. Don't miss out on this fantastic opportunity!

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22747 S 229th Place Queen Creek, AZ 85142

$749,990

4 Beds

3 Baths

3,203 SqFt

Status Active

MLS # 6780715

Property Type Single Family Residence

Price Type --

Stunning home in a vibrant and coveted community, beautifully situated on a corner lot! This home boasts outstanding upgraded features wood-plank tile floors, elegant 8-foot doors throughout, custom fixtures, tankless water heater, and a stylish gray interior color scheme. The Chef's kitchen is a true highlight, featuring granite slab, staggered 42'' Expresso cabinets, built-in stainless steel appliances with a gas cooktop, spacious walk-in pantry. MASSIVE laundry/utility room perfect for bigger families. True Resort backyard w/sparkling pool, elevated hot tub, shear water features, ample travertine, turf, gas firepit & BBQ. Spacious 3-car Tandem garage w/tons of storage **PROFESSIONAL PHOTOS COMING SOON**

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1942 W Sienna Bouquet Place Phoenix, AZ 85085

$749,990

3 Beds

2 Baths

2,189 SqFt

Status Active

MLS # 6731863

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. Introducing the Barletta, a sophisticated single-story home on a north-south facing corner lot, ready by Sept/Oct. It features an open floor plan with 3 bedrooms, 2 baths, a den, and a flex room. The Owner's Suite has a glass walk-in shower, and the Chef's kitchen includes a gas cooktop, linen-painted cabinets, and quartz countertops. A center slider opens to a covered patio for indoor-outdoor living. Upgraded tile, carpet, a full electrical package, and a landscaped front yard enhance this exceptional home.

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5626 W St Moritz Lane Glendale, AZ 85306

$749,980

4 Beds

3.5 Baths

2,854 SqFt

Status Active

MLS # 6782311

Property Type Single Family Residence

Price Type --

Ready Now!! Near all the amenities and park area. 4 Bedrooms, wfh, dog wash, with 16ft slider, Quartz counter tops, 42'' Winstead maple painted flat-panel Cabinets with brushed nickel hardware, gourmet collection gas appliances, 24''x48'' union industrial look tile and upgraded carpets!! Great sized backyard with covered patio to enjoy. Just steps away from all the amazing amenities Legends has to offer.

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694 W Bartlett Way Chandler, AZ 85248

$749,979

3 Beds

2 Baths

2,157 SqFt

Status Active

MLS # 6778351

Property Type Single Family Residence

Price Type --

Take a look at this Beautifully Maintained Barcelona Plan In the Mediterranean At Fulton Ranch, This 3 Bedroom Plus Study Great Room Split Floorplan at 2157 sq ft. Lots of Upgrades Including Gourmet Kitchen Layout, Upgraded Cabinets and Countertops. 2' Garage Extension. Security Prewire and Surround Sound in Great Room Oversized Corner Lot. New AC Unit just a Couple Months Ago.. Ready for Move In !!! Don't Miss it !! 🙂 Awesome Chandler Schools !! Ira A. Fulton Elementary School and Hamilton High School both walking distance. Jr. High is Bogle.

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