#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

1188 W Laredo Avenue Gilbert, AZ 85233

$749,900

5 Beds

3 Baths

3,089 SqFt

Status Active

MLS # 6689943

Property Type Single Family Residence

Price Type --

Great corner lot gem in highly-sought lake community of the beautiful Artemina subdivision in Gilbert! Only 2 mi to downtown Gilbert and 4 mi to downtown Chandler, waking distance to the community Island lake. House features 5 BRs, 3 baths, 3 car garage with high ceilings, formal living & dining rooms, family room with cozy fireplace, a loft area great for entertainment, and plantation shutters in all the right places. The amazing kitchen offers ample cabinetry with crown molding, granite back splash & countertops, elegant pendant lighting, and a lovely island with breakfast bar. The stunning backyard offers great retreat with of a covered patio, personal putting green, and gravel landscaping with lots of trees and plants. Home close to highways, shopping and dinning, a must see

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20209 E Via De Colina Drive Queen Creek, AZ 85142

$749,900

5 Beds

3 Baths

3,204 SqFt

Status Active

MLS # 6702792

Property Type Single Family Residence

Price Type --

Beautiful 5 bed 3 bath home located in desirable Montelena Neighborhood in Queen Creek. Home located in cul de sac with plenty of room on all sides of the home. Large lot with beautiful pool in rear yard, grass front and rear and a fire pit for entertaining. This home has expansive ceiling heights and large rooms. The upgraded kitchen has oversized island with farm sink and gas appliances. Plenty of room for your toys with a 3 car garage and double gate. Very easy access to trails and common areas and conveniently located to the heart of downtown Queen Creek. Plenty of food, shopping and options for your everyday needs! Come take a look!

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5743 S Crowley -- Mesa, AZ 85212

$749,900

2 Beds

2.5 Baths

2,686 SqFt

Status Active

MLS # 6721139

Property Type Single Family Residence

Price Type --

Welcome to this Elegant 2686 Sqft, 2 Bedroom +Den, 2.5 bath, 3 car garage Gem in the highly sought after 55+ Encore at Eastmark community! Step inside through the custom security door and you will be greeted with 10 ft. ceilings, 8 ft. doors, tasteful light 12x24 tile throughout the main living, custom white shutters and recessed lighting! Double doors lead to the well-appointed den featuring wood laminate flooring, ceiling fan and shutters. Adjacent to the den sits the spacious secondary bedroom boasting an oversized arched window with shutters, private ensuite and walk-in closet. Passing the open dining room you will step into the gorgeous gourmet kitchen featuring an oversized kitchen island with breakfast bar, tasteful pendant lighting, light quartz countertops, a stainless steel sink with RO system, soft water throughout the home, 42 soft close white shaker cabinets with lower pull out drawers, stainless steel appliances, built in oven and microwave, a five burner gas cooktop, built in microwave, Carrara marble backsplash, large walk in pantry with space for a mud room! The intimate courtyard extends your entertaining space and boasts a covered alum wood pergola, soothing water feature and mature foliage for extra privacy. The great room has been extended 4 feet allowing for extra living space and features surround sound. The owners suite presents a large soaking garden tub with neutral tile surround, separate shower with tile surround, sitting bench and glass doors, two separate vanities, a large walk in closet, linen closet and water closet. If you are looking for a hobby/storage room, the oversized laundry room features a wall of upper and lower white cabinets for ample storage! The well-manicured backyard sits on an oversized lot and features a covered patio with 4 foot extension, prewire for ceiling fans, epoxy flooring, synthetic grass with paver border, mature foliage, paver pathway to the courtyard and a shed for additional storage.

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7313 E Valley Vista Drive Scottsdale, AZ 85250

$749,900

3 Beds

2 Baths

2,307 SqFt

Status Active

MLS # 6720515

Property Type Single Family Residence

Price Type --

$69K REDUCTION Immerse yourself in this premier gated subdivision in the heart of the Scottsdale Resort Corridor At home, step inside and discover this single level space with soaring ceilings and an abundance of natural light. Enjoy entertaining friends in your large open great room with its classic and cozy gas fireplace or move to the South facing backyard complete with outdoor fireplace, Camelback views, brick paved patio, built in BBQ and Pebbletec pool with water feature This move in ready home offers a new roof, new paint inside and out, new hot water heater and carpeting in all three bedrooms The large eat in kitchen has storage to spare and a charming shady side patio. Don't miss your chance to own this fantastic full time home or seamless lock and leave in the Heart of Paradise

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16044 S 28th Street Phoenix, AZ 85048

$749,900

4 Beds

2 Baths

2,294 SqFt

Status Active

MLS # 6722984

Property Type Single Family Residence

Price Type --

Beautiful WELL MAINTAINED single story home in the very popular Ahwatukee Foothills, Mountain Park Ranch. The home sits on a large corner lot with nothing but spectacular views from every corner. Upon entering this home, you are greeted with gorgeous tile flooring and soothing paint palettes. No window treatments needed as this home has plantation shutters throughout. Lots and lots of granite countertop and maple cabinets in the kitchen. Perfect for entertaining. Finally, step out back and enjoy the private canyon retreat including pool, built in grill, large covered patio and meditation area. This house has many unique extras that will impress! AC REPLACED 2018, ROOF REPLACED 2008 , WATER HEATER 2015. PRICED BELOW MARKET VALUE. SEE RPR REPORT.

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1215 E Kramer Circle Mesa, AZ 85203

$749,900

5 Beds

3 Baths

3,960 SqFt

Status Active Under Contract

MLS # 6749977

Property Type Single Family Residence

Price Type --

Welcome to your dream home nestled in a highly sought-after neighborhood! This stunning 4-bed + Den & 3-bath gem offers an expansive 3,960 square feet of luxurious living space and has been meticulously updated to provide the ultimate in comfort and style. Built in 2001, this home exudes timeless appeal while featuring modern enhancements that truly set it apart. Step inside to discover a freshly painted interior that perfectly complements the brand-new carpet and flooring throughout. The heart of the home boasts beautifully painted cabinets with new hardware, light fixtures, and pulls, adding a touch of contemporary elegance to your daily living experience. The spacious and airy living areas are perfect for both entertaining and cozy family nights. You'll appreciate the recently serviced A/C units that ensure year-round comfort, no matter the season. The upstairs hall bath has been tastefully refinished, providing a spa-like retreat for relaxation. Your backyard oasis awaits with a pristine pool that has been drained, cleaned, and refilled, ready for endless days of fun and relaxation. The garage door has been expertly repaired, adding functionality and curb appeal to this already impressive property. Don't miss the opportunity to make this turnkey home your own. Every detail has been thoughtfully considered and upgraded, making this residence truly move-in ready. Experience the perfect blend of luxury and convenience in a space designed for making memories. Seize the chance to bask in this meticulously cared-for residence, where every update has been executed with precision and care. Envision the endless possibilities that await at your new home sweet home!

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103 E Atacama Lane Queen Creek, AZ 85140

$749,900

2 Beds

2.5 Baths

2,123 SqFt

Status Active

MLS # 6737932

Property Type Single Family Residence

Price Type --

Rare 3-car garage, amazing corner lot on this super private and quiet street with limited traffic. Builder is nearly out of lots for this plan, don't lose this opportunity. Discover the popular Captivate model located in the gated community of Encanterra Country Club. This impeccably maintained home is situated on a peaceful corner lot with convenient access to both Clubhouses. Enter through the inviting gated courtyard and step into a designer-built home that boasts neutral tones, plank tile flooring and elegant custom shutters throughout. The open room floor plan is perfect for entertaining, featuring a spacious living area with surround sound, a gas fireplace, and a niche wall. Step out back and enjoy the well maintained yard. Built in BBQ, expanded stone pavers and mature trees.

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2942 N 48th Place Phoenix, AZ 85018

$749,900

3 Beds

3.5 Baths

2,335 SqFt

Status Active

MLS # 6736446

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the heart of Phoenix! Nestled in the prestigious Artisan Commons gated community, this stunning residence boasts 3 spacious bedrooms and 3.5 luxurious bathrooms. The charming stone elevation and meticulously maintained front yard provide incredible curb appeal. Step inside to discover a versatile flex room, a stylish loft, and an inviting open floor plan adorned with luxury vinyl plank flooring and 4'' baseboards. The gourmet kitchen is a chef's delight, featuring a KitchenAid gas range, stainless steel appliances, concrete slab counters, a walk-in pantry, and elegant two-tone cabinets with nickel hardware. Enjoy cozy evenings in the living room illuminated by energy-efficient LED lights and bask in the natural light from the energy-efficient polyvinyl windows with 2 blinds. Retreat to the primary suite, complete with a vaulted ceiling, shutters, a Juliet balcony, and a spa-like bathroom with cherry cabinets, copper vessel sinks, and wall-mounted faucets. The low-maintenance backyard is perfect for entertaining, with dual gates, a gas stub for BBQ, and a delightful lemon tree. Additional amenities include an upstairs laundry with upper cabinets and washer/dryer, a guest bathroom with a trough sink and walk-in shower, and a unique upstairs apartment with private access. This gem also offers a community pool, sport court, and a two-car garage. Embrace luxury living in this ideally situated home!

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15865 E Lost Hills Drive Fountain Hills, AZ 85268

$749,900

3 Beds

2 Baths

1,970 SqFt

Status Active

MLS # 6751511

Property Type Single Family Residence

Price Type --

This is your chance to become the proud owner of this unique gem situated on a corner lot! Unparalleled beauty & impressive craftsmanship are truly shown in this fantastic haven that overlooks scenic mountains & city lights views. Well-maintained interior showcases wood-look tile flooring, high vaulted ceilings, plantation shutters, and an inviting fireplace in the large & airy living room. Fabulous eat-in kitchen comes with stainless steel appliances, ample cabinets with crown moulding, tile backsplash, a breakfast bar, and granite counters. Check out the main retreat, offering plush carpet, a walk-in closet, and an ensuite with dual sinks. Tranquil backyard boasts a refreshing pool, spa, and colorful sunsets behind the mountains. This property has everything you've been looking for!

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185 Brenna Drive Chino Valley, AZ 86323

$749,900

3 Beds

3 Baths

2,285 SqFt

Status Active

MLS # 6753774

Property Type Single Family Residence

Price Type --

BETTER THAN NEW!! Pristine condition home built in 2023 in an amazing neighborhood. Bright living room with stone fireplace. 10 ft ceilings. Kitchen offers thoughtful layout with large granite kitchen island and shaker wood cabinets. Spacious primary bedroom with luxurious plush carpet. Primary en-suite offers dual vanities + makeup counter, snail shower, soaker tub, and large closet. A spacious laundry room with ample cabinets and generous counter space. Bedroom 2 offers private patio and its own bathroom. Bedroom 3 enjoys lovely mountain views. Fully landscaped one acre property with plenty of room for an additional garage or RV parking. Attached 4 car tandem garage with storage. For gardening enthusiasts, it's the perfect spot to bring your green thumb into action! Don't miss out!

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8717 E Thornwood Drive Scottsdale, AZ 85251

$749,900

3 Beds

2 Baths

1,525 SqFt

Status Active

MLS # 6754440

Property Type Single Family Residence

Price Type --

This beautiful 3 bdrm, 2 bath home is located in a desirable Scottsdale area close to Fashion Square, Old Town, and the 101. Situated on a spacious 8800+ sq ft corner lot, it offers something for everyone. The home boasts gorgeous curb appeal with artificial turf and a paver walkway leading to a charming front patio with shade structure. Inside, you'll find recent upgrades including granite countertops in the kitchen and bathrooms, as well as luxury vinyl plank (LVP) flooring throughout the main living areas and bedrooms—no carpet! The spacious backyard features artificial turf, a putting green, a built-in grill, a storage room, and an RV gate. Additionally, there's a 1-car garage with an extra driveway that's paved for additional parking. Come tour this one today.

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6151 W Donald Drive Glendale, AZ 85310

$749,900

3 Beds

2 Baths

2,040 SqFt

Status Active

MLS # 6758790

Property Type Single Family Residence

Price Type --

Stunning Lake lot! Top of the Ranch Centex home. Remodeled showplace has open floorplan with vaulted ceilings. Front living/dining room. Rear family has raised hearth fireplace. Gourmet kitchen has newer custom raised panel cabinets. Newer stainless appliances. Granite counters. New (2023) plank tile flooring. New 5'' baseboards thru-out. Freshly painted interiors (2024). Plantation shutters. Large master suite has French doors to back. Incredible lake views in backyard. Newer salt-water, pebble-tec play POOL is both heated/cooled & has custom electric cover. Newer 6 Person above ground spa. Extended lot off lake not included in sq.ft. has outdoor firepit. Custom pavers & artificial turf. EV Stage 2 Fast Charge in garage + new hybrid hot water heater. This home is AMAZING! Lease is paid off - Zero Balance - Average APS Electric Bill last 25 month $71.57

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