#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

16484 W Fawn Drive Goodyear, AZ 85338

$749,000

3 Beds

2.5 Baths

2,391 SqFt

Status Active

MLS # 6770360

Property Type Single Family Residence

Price Type --

Assumable, 2.5% Loan for VA Eligible Buyers! You'll LOVE this beautiful 3-bed, 2.5-bath home with a DEN in Estrella Mountain Ranch! Sits on a corner lot with mountain views & NO direct neighbors behind and hiking path right across the street. Its pride of ownership starts with meticulous landscaping - the backyard is a beauty with extensive travertine hardscape, professional lighting, artificial turf, extended pergola patio, built-in BBQ, elevated fire pit (both plumbed to natural gas line), above ground spa and beautiful fountain. Rare tandem 4-car & RV garage (w/50 amp outlet, cleanout and epoxy floors). Home exudes elegance throughout, featuring inviting living spaces with tons of natural light! The impressive upgraded kitchen has built-in appliances, RO system, wallk-in pantry, ample cabinetry & counter space (quartz). The primary bedroom offers an ensuite with all the must-haves. Separate mud room large enough to make an office and separate laundry room. Soft water system throughout. 2 AC units. Additional insulation in attic. Extensive outside wall and roofline eve outlets for all power needs. Take advantage of the RESORT-STYLE Community amenities, including a golf course, 2 gyms, residents' clubs, lakes, parks, tennis courts, trails, pools, & more. Just WOW

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1894 W Scissor Tail Place Queen Valley, AZ 85118

$749,000

4 Beds

2.5 Baths

2,808 SqFt

Status Active

MLS # 6771038

Property Type Single Family Residence

Price Type --

This Queen Valley custom home sits on 1.26 acres with beautiful mountain views. 2x6 construction. Large primary bedroom and bathroom with walk in closet. GE profile appliances in the kitchen. Soft water and R/O system, central vac and AMPLE cabinet space throughout. Expansive laundry room with more cabinet storage. Built in entertainment center with can lighting in the family room. Beautiful claw foot bath tub and walk in shower in the secondary bathroom. Relax on those cool rainy nights in the screened in Arizona room. 1400 sq ft of garage space including detached garage/workshop with 220V hookup. Detached garage has metal car port perfect for your off road toys. Easy access to side by side trails for hiking, biking, or off road toys.

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31214 N 167th Avenue Surprise, AZ 85387

$749,000

4 Beds

2 Baths

2,200 SqFt

Status Active

MLS # 6770854

Property Type Single Family Residence

Price Type --

Great opportunity for a gorgeous home built by MBH. High-quality MODERN home will NOT last long. Home has RARE PAVEMENT ACCESS on White Wing Rd and 1.14 acres of land for all your toys. Boasting trendy Black and White Tuxedo interior design. This home offers 2200 sf, 4 Bedrooms, 2 Bathrooms. Upgrades EVERYWHERE! Amazing open concept layout, stunning foyer, rear entry drop zone. Laundry room with master closet access. Separated split bedrooms for ultimate quiet and privacy. Black shaker cabinetry with roll out trays. Waste cabinet. Gold Farmhouse sink. Upper and Lower LED cabinet lighting. Quartz counter tops. Glass mosaic backsplash. High End GE CAFÉ White and Gold appliances. Custom Barn doors, 8ft interior doors painted black. Luxury bathroom tile with BLACK free-standing Tub. Gold appliances. Custom Barn doors, 8ft interior doors painted black. Luxury bathroom tile with BLACK free-standing Tub. Gold Delta plumbing Fixtures. High rise toilets with soft close lids. Gorgeous black and gold light fixtures. HUGE 516sqft covered rear patio. This home has it all and needs nothing.

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7401 N Scottsdale Road Unit 3 Paradise Valley, AZ 85253

$749,000

3 Beds

2.5 Baths

2,401 SqFt

Status Active

MLS # 6775698

Property Type Townhouse

Price Type --

Exceptional investment opportunity awaits in the heart of Scottsdale! This roomy 3 bedroom townhouse is ideally situated next to the scenic McCormick Ranch Golf Course and Lake. Enjoy the tranquility of lush surroundings and mountain views. Recently renovated this property comes equipped with a new AC, water heater, and appliances, as well as new vinyl windows and plantation shutters throughout. With captivating lake views and close proximity to incredible restaurants, parks and entertainment, this property promises an unparalleled lifestyle experience.

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9515 S Swiss Court Hereford, AZ 85615

$749,000

3 Beds

2.5 Baths

2,492 SqFt

Status Active

MLS # 6776446

Property Type Single Family Residence

Price Type --

Discover the epitome of luxury living in this stunning custom home, designed by renowned Architect, RK Designs and meticulously crafted by local builder Walston Homes. Nestled on over 4.6 acres of serene landscape, this property offers unparalleled privacy and breathtaking views. Step inside to find high-quality finishes throughout, including 24 foot ceilings, hand-stained solid core wood doors that add warmth and character to every room. The home is flooded with natural light, thanks to strategically placed skylights that create a bright and inviting atmosphere. Spacious kitchen with custom mesquite butcher block island. The spacious living room features large double doors that seamlessly connect indoor and outdoor living, showcasing spectacular views that will captivate you.

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3114 E Hazelwood Street Phoenix, AZ 85016

$749,000

2 Beds

2 Baths

1,779 SqFt

Status Active

MLS # 6776632

Property Type Townhouse

Price Type --

Updated, modern town house with 2 bedrooms, 2 bathrooms, in a split floor plan with a den/office or exercise room next to the master with a separate entrance. Real wood flooring and window shutters throughout the home. NO carpet. S/S appliances, soft close cabinets and drawers, reverse osmosis in the kitchen with a sliding door to the private patio. LED lighting throughout. Dual pane windows, A/C 4 years old, newer washing machine and dryer. 2 car garage with a storage closet with an entrance to the patio. Toto bathroom fixtures. Community pool, near the Biltmore financial district, shopping, great restaurants all around with a short drive to Sky Harbor airport. Town house at the end of the subdivision so no traffic noise from 32nd Street.

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2101 N 25th Place Phoenix, AZ 85008

New

$749,000

3 Beds

2 Baths

1,657 SqFt

Status Active

MLS # 6783056

Property Type Single Family Residence

Price Type --

Do you dream of having a home so inviting, so luxurious, so tranquil, that you never want to leave? Welcome to this gem in the heart of Phoenix, updated with a modern flair including wooden beams and a unique draped vaulted ceiling that makes seeing believing. Extravagant upgrades, custom tiles, and open concepts make this light bright home a designer's masterpiece. No detail was overlooked from one of kind doors & fixtures, to adding gas lines, turf, rocks, & pavers. Paradise awaits in the resort style backyard. Enjoy days into nights with your heated salt water pool with high speed jets, gazebo and custom built in fire pit, patio entertainment area with TV and floating bed. Or enjoy a drink in your side yard with egg floating chairs. Also perfect as an investment property! COME SEE

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2321 N 30th Street Phoenix, AZ 85008

New

$749,000

5 Beds

3 Baths

3,420 SqFt

Status Active

MLS # 6783045

Property Type Single Family Residence

Price Type --

Priced to Sell! Investors Welcome! Discover a rare investment opportunity in the highly desirable Camelback East neighborhood near Arcadia, situated between McClintock and Thomas Roads. This beautifully renovated 5-bedroom, 2.5-bathroom home is priced to move. Originally built in 1952 and fully upgraded in early 2024, this property blends classic mid-century charm with modern comforts. The home features bright, spacious living areas, brand-new appliances, and large bedrooms with stylishly updated bathrooms, making it as functional as it is beautiful. Natural light floods the home through an abundance of windows, offering incredible views of the surrounding landscapes. Enjoy a prime location minutes from Downtown Phoenix, Sky Harbor Airport, and Old Town Scottsdale, with convenient access to ASU Tempe, major hospitals, and the city's best amenities. Public transportation and major freeway access make commuting a breeze, adding to the property's appeal. Perfect for investors or buyers looking for a move-in ready home in an up-and-coming neighborhood, this property provides exceptional value in one of Phoenix's most sought-after areas. Don't miss this below market gem, call today!

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4430 N 22nd Street Unit 19 Phoenix, AZ 85016

$749,000

3 Beds

2.5 Baths

2,433 SqFt

Status Active Under Contract

MLS # 6755037

Property Type Townhouse

Price Type --

Step into your perfect home in one of the city's most coveted neighborhoods. This sophisticated 3-bedroom plus den, 2.5-bathroom residence offers an expansive, open-concept layout that exudes both style and functionality. Enjoy the luxury of 11-foot ceilings and an abundance of natural light that creates a bright and airy atmosphere throughout. Each oversized bedroom features spacious walk-in closets, while the master suite is a true retreat with its elegant fireplace and spa-like bathroom, complete with a large walk-in shower and tub. Located just moments from the high-end shops and dining at Biltmore Fashion Park, this home combines modern luxury with unbeatable convenience. Embrace a lifestyle of elegance and ease in this stunning, upscale community.

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17662 E Chevelon Canyon Circle Rio Verde, AZ 85263

$749,000

3 Beds

2 Baths

1,679 SqFt

Status Active

MLS # 6753902

Property Type Twin Home

Price Type --

Indulge in breathtaking Mountain and Desert Views from your expansive covered patio in this stunning Resort Collection home featuring 3 spacious bedrooms and 2.5 baths. Nestled in the heart of Trilogy at Verde River, you can walk to the club house. The gourmet kitchen boasts GE Monogram appliances, upgraded cabinets, a wrap-around island with granite counter, and reverse osmosis for pure water. The great room with a 15' sliding patio door opens to the extended patio with firepit and fountain on a larger lot that is adjacent to the desert. The master suite offers a luxurious tiled bath, extended walk-in closet, linen cabinet, custom mirror, and granite counters. Plantation shutters, wood floors and 5'' baseboards throughout. Other upgrades include water softener, UV protected windows, motorized sun shade, floor to ceiling tile in guest bath, custom mirrors in baths, and epoxy flooring in the garage. HOA fee covers front and backyard landscaping maintenance as well as exterior paint. Trilogy at Verde River is a Resort Style community featuring something for everyone! Tom Lehman designed golf course, tennis, pickle ball, bocce ball, heated lap pool and swimming pool, hot tub, fitness center, demonstration kitchen and a 7.5 acre dog park. The community center has casual and fine dining, luxury spa and an events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails yet close to the conveniences of affluent North Scottsdale. Live like you're on vacation!!

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5402 E Michelle Drive Scottsdale, AZ 85254

$749,000

3 Beds

2 Baths

2,001 SqFt

Status Active Under Contract

MLS # 6779393

Property Type Single Family Residence

Price Type --

Fantastic home in a desirable Scottsdale location! Offering 3 beds, 2 baths, manicured landscape, & a 2-car garage w/cabinets. New AC in 2022. The inviting interior features tons of natural light, tile & soft carpet thru/out, & vaulted ceilings. Popular living & dining room combo and separate family room w/fireplace! The open-concept kitchen boasts SS appliances, granite counters, ample wood cabinetry, a bay window, & a center island. Enter the main bedroom to find sliding doors to the back and an ensuite with dual sinks, separate tub/shower, & a walk-in closet. 3rd bedroom has built-in desks & cabinets making it a great office. It's time to unwind while enjoying a BBQ under the covered patio, overlooking the lush lawn! NO HOA, NO neighbors behind! Move-in ready!!

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230 N Wild Oak Drive Payson, AZ 85541

$749,000

2 Beds

3 Baths

2,675 SqFt

Status Active

MLS # 6778894

Property Type Single Family Residence

Price Type --

RARE FIND! Gorgeous custom 2 bedroom, 3 bath home which also includes a loft & basement. The 100% finished basement has the versatility to function as a Rec-Room, Family Room, Office or Man Cave & includes a full bath. Stunning views from the floor-to-ceiling windows & wrap around decks highlight this one acre woodland paradise. Oversized attached garage, wood floors & granite countertops are just a few of the many upgrades. Newer efficient central A/C unit. Large rooms & an open floorplan create a nice flow. Furniture in house is negotiable. This charming residence is located in desirable Collins Ranch. Wonderful year round or seasonal home in the cool pines is perfect for creating new memories. Welcome to your new home!

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