#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

15239 W Colt Lane Sun City West, AZ 85375

Open House

$749,900

3 Beds

2 Baths

2,375 SqFt

Status Active

MLS # 6779063

Property Type Single Family Residence

Price Type --

Your DREAM retirement haven is here! This gorgeous home is nestled on a quiet cul-de-sac, backing to the fantastic golf course. Its charm starts a well-manicured desert landscape and a 2.5 car & golf cart garage w/attached cabinetry. The home exudes elegance with a double-door front entry, skylights, plantation shutters, vaulted ceilings, tons of natural light, warm neutral paint, surround sound, stylish light fixtures, and tile/carpet throughout. You'll LOVE the cozy dining space with a custom built-in wine rack & storage, and the large living room with a tray ceiling & entertainment center! The gourmet kitchen boasts granite counters, travertine tile backsplash, recessed & pendant lighting, a center island, and peninsulas w/breakfast bar. Its plethora of cabinetry ensures ample storage. Just off the front entry is an open den with a built-in desk & cabinetry! Enter the main bedroom to find sliding doors to the back and a lavish ensuite with dual granite sinks, travertine tiled shower, & a walk-in closet. Discover the backyard, your perfect retreat! Designed for year-round enjoyment, it features a pool, an extended covered patio, and a built-in BBQ grill. Enjoy the tranquil vistas, which provide an amazing backdrop for your living experience! Located in the 55+ Sun City west with RESORT-STYLE amenities, all contributing to a vibrant & active lifestyle. See it! Love it! Live it!

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533 W Coronado Road Phoenix, AZ 85003

Open House

$749,900

2 Beds

1 Bath

1,076 SqFt

Status Active

MLS # 6771898

Property Type Single Family Residence

Price Type --

''House of Charm'' one of five built as a spec home by Paul Burroway. This is the only one built in the ''moderne'' style and featured state of the art components for that time period. Situated in the Willo District, the home maintains all of its vintage integrity that makes it a showstopper. High ceilings, unique crown molding, original hardware and light fixtures, porthole windows, built in cabinetry, just to name a few. This is a must see to truly appreciate the era and craftsmanship. Two well sized bedrooms offer warm flooring and walk in closets. The kitchen is a chef's delight with that gas stove! The property offers plenty of outdoor living. Relax on the gorgeous front porch or venture out into the backyard showcasing the refreshing pool and expansive lawn. The possibilities are endless with the detached storage/garage in the corner of the yard. Come see this one of a kind beauty and make it yours!

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7942 E Moreland Street Scottsdale, AZ 85257

$749,888

4 Beds

3 Baths

1,900 SqFt

Status Active

MLS # 6736790

Property Type Single Family Residence

Price Type --

Wow! Located near Old Town Scottsdale, you have to see this 4 bed, 3 bath home to believe it. The property boasts a rare, 800+ sq. ft. guest house (built in 2017)! Offering approx. 1,900 sq. ft. of living space, the main residence has been remodeled & features glossy floors, modern recessed lighting, & vaulted ceilings. The large great room benefits from natural light & is perfect for entertaining. The primary bedroom is nice! It features a kitchenette, walk-in closet, & ensuite with dual-vanities & a standalone tub as well as its own exit to the outdoors. The backyard has a covered patio & sitting areas with pavers. Like we said, this property has to be seen. With its rare features, great freeway access, & location near retail, dining, & entertainment galore, this is a unique find!

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7343 E Marlette Avenue Scottsdale, AZ 85250

$749,888

3 Beds

2.5 Baths

2,876 SqFt

Status Active

MLS # 6726021

Property Type Single Family Residence

Price Type --

Lean into a cool, late mid-century vibe with high ceilings in the main living room and a fabulous sunken bathtub. PLUS a retro wet bar to delight your guests! The kitchen is equipped with painted cabinetry, quartz counters & backsplash, SS appliances, and a peninsula w/a breakfast bar. Huge primary bedroom. Big closets and an extra half bath that most Briarwood homes don't have. Sunny, south backyard with covered patio, fire pit, and a refreshing pool/spa combo, this home is ready for move in or renovation!

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5922 S Boulder Street Gilbert, AZ 85298

Open House

$749,837

3 Beds

2.5 Baths

2,585 SqFt

Status Active

MLS # 6774466

Property Type Single Family Residence

Price Type --

Beautiful, new, 2-story home on a corner homesite in Gannet at Waterston Central. Loaded with designer features, this spacious home has it all. The kitchen boasts a gas cooktop with a separate wall oven and microwave, custom backsplash, and quartz countertops. Other features include cabinets and a sink in the laundry room, a frameless walk-in shower with custom ceramic tile in the primary bath, maple/mission stair rails, maple buckskin cabinets, and a 16' center pull sliding door to the patio! 6 x 36 ceramic tile flooring and upgraded carpet can be found throughout. The home is on a soft water loop, has an extended covered patio, and a garage service door to the attached 2-car garage.

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10304 W Pinnacle Vista Drive Peoria, AZ 85383

$749,800

4 Beds

3.5 Baths

3,187 SqFt

Status Active

MLS # 6775120

Property Type Single Family Residence

Price Type --

Tucked in the highly desirable Northland Passages community, this expansive family retreat offers breathtaking 360-degree mountain views and is just steps away from the peaceful Northlands Park. This impressive two-story home greets you with a meticulously crafted front courtyard, complete with custom gates and an elegant wrought-iron front door. Inside, the gourmet kitchen boasts sleek white cabinetry, a farmhouse sink, and top-tier stainless steel appliances. Plantation shutters throughout! Featuring 4 generous bedrooms, 3.5 well-appointed bathrooms, and 2 adaptable spaces ideal for teens, hobbies, or a home office, this residence provides ample flexibility for your lifestyle. Plantation shutters throughout, soft water loop, reverse osmosis EV Charger, Upgraded Electrical Systems.

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20179 W San Juan Avenue Litchfield Park, AZ 85340

$749,701

4 Beds

3 Baths

3,147 SqFt

Status Active

MLS # 6572417

Property Type Single Family Residence

Price Type --

Open-concept, 3,147 square foot home with the perfect amount of space to in all the right places and is located on a N/S 9,143 square foot homesite with an 8' double gate. 4 bedrooms + study + retreat. 3 car tandem garage provides much desired storage space. The extended covered patio gives you extra room for outdoor entertainment and backyard is large enough for a pool. Gourmet kitchen with gas cooktop, upgraded cabinets and countertops with custom backsplash, upgraded flooring through out are just some of the custom choices that make this home a must see!

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1723 E Kenwood Street Mesa, AZ 85203

New

$749,500

4 Beds

3 Baths

2,760 SqFt

Status Active

MLS # 6776792

Property Type Single Family Residence

Price Type --

This well-maintained, original-owner residence offers 4 bedrooms plus a den/office, 2.5 baths, a 3-car garage, saltwater 19,000 gallon pool & a low-maintenance, desert landscaped yard. Upon entering, you'll find a spacious versatile room that can be used as a hobby room, home gym, playroom, or formal sitting/dining area. The kitchen is a chef's dream, featuring granite countertops, abundant wood cabinetry, recessed lighting, stainless steel appliances, and a center island with a breakfast bar. Adjacent to the kitchen is a generously sized laundry room wi/ a walk-in pantry, offering extra storage and convenience. The den provides additional space for work or relaxation. The primary bedroom offers a private en-suite bathroom with dual sinks and a huge walk-in closet. The home boasts numerous upgrades, including an added 2 inches to the garage, spray foam insulation throughout, two 3-ton HVAC units, granite countertops, and wood flooring. The bathroom and closet were remodeled just 3-4 years ago, and the roof underlayment has been recently replaced. A paved side entrance adds further convenience. The family room features vaulted ceilings and a cozy fireplace, perfect for gatherings. The backyard is an inviting space with a covered patio, saltwater, diving pool and plenty of room to enjoy your personal outdoor oasis. Located in a gated community close to parks, restaurants, airports, and more, this home is a perfect blend of comfort and convenience. Don't miss this opportunity!

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52019 N Forepaugh Peak Road Wickenburg, AZ 85390

$749,500

3 Beds

2 Baths

1,589 SqFt

Status Active

MLS # 6642022

Property Type Single Family Residence

Price Type --

Hey y'all, kick off your boots and mosey on over to this 3-bed, 2-bath gem on 5.49 acres in the heart of Forepaugh. It's not just a house; it's a home tailor-made for the laid-back horse lover who's into a bit of roping, barrel racing, and trail riding. This place sits pretty on the paved road and comes with all the fixin's: a 3-car garage with mini-split A/C, a 3-stall shedrow barn, and a 50 amp RV hookup for those winter visitors. The inside's got all the modern bells and whistles - All NEW appliances, NEW AC, NEW hot water heater and in 2017 a NEW roof . But let's talk cozy: there's a propane fireplace for chilly nights and an above-ground hot tub for kicking back under the stars after a day in the saddle. Now, picture this: you can ride straight from your front door to state land, gather your buddies for some laid-back roping, or tear it up in barrel racing. Heck, you can even ride on over to the mailbox for your mail - the old-fashioned way. The views around here are downright spectacular, providing the perfect backdrop for your daily rides and evening chill sessions. And let's not forget the neighborly vibes - this community is all about good times and horsin' around. So, if you're lookin' to trade city lights for starry nights and want a place where modern comfort meets cowboy cool, reckon it's time to check out this Western haven. Call to arrange your visit, and let's make this your home on the winter range.

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20750 N 87th Street Unit 2077 Scottsdale, AZ 85255

Open House

$749,500

3 Beds

2 Baths

1,893 SqFt

Status Active

MLS # 6764296

Property Type Townhouse

Price Type --

Great mountain views from your over-sized private balcony. This luxury townhome located in the Encore Community of Grayhawk has a spacious open floor plan, freshly painted 2024, new lighting, plantation shutters and much more. Just steps to Isabella's Kitchen & a short walk to DC Ranch Market Street shops & restaurants. Community offers swimming pool, spa, and fitness room. The kitchen features upgraded cabinets w/ an expansive breakfast bar & stainless-steel appliances. Spacious primary suite boasts mountain views, private patio access and large walk-in closet. Upgraded bathrooms feature custom fixtures and raised countertops. One of the largest split floor plans, open living space make this a perfect home for entertaining and vacationing! Epoxy floor finish in the attached 2 car garage

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9808 S 37th Drive Laveen, AZ 85339

Open House

$749,402

4 Beds

3.5 Baths

2,966 SqFt

Status Active

MLS # 6709041

Property Type Single Family Residence

Price Type --

Charming new, single-level home in Laveen's new neighborhood, Ridge at Whispering Hills. Located at the base of South Mountain, Whispering Hills offers easy access to recreation, walking and biking paths, and private gated access. The 4 bedroom home features designer selections throughout including an executive kitchen with double ovens, Delicatus white granite in the kitchen, white painted cabinets, and two tone paint, natural tan and snowbound. Other features include an extended primary suite, a frameless walk-in shower, a shower at the secondary bath, a garage service door for the attached 3 car garage, and upgraded tile and carpet throughout.

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7430 W Whitehorn Trail Peoria, AZ 85383

$749,190

5 Beds

3 Baths

2,837 SqFt

Status Active

MLS # 6764460

Property Type Single Family Residence

Price Type --

November completion on this brand-new home! This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'Stork' floorplan features 5 full bedrooms plus a game room and a multipurpose room, 3 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes Burlap Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 8' doors, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Home is under construction, estimated photos of similar spec home to show layout, options may vary**

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