#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

1008 E Phoenix Street Payson, AZ 85541

$749,000

3 Beds

3 Baths

2,522 SqFt

Status Active

MLS # 6726144

Property Type Single Family Residence

Price Type --

Welcome to this gorgeous property that offers the perfect blend of comfort and charm. This home is sure to delight, featuring 3 bedrooms and 3 bathrooms, an open floor plan and fireplace in the living area. The kitchen boasts sleek countertops and ample cabinet space, making it ideal for both everyday living and entertaining. Step outside to the beautifully landscaped yard, a tranquil oasis with mature trees, lush greenery, and a covered patio. Don't miss the opportunity to make this stunning home yours!

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19674 E Strawberry Drive Queen Creek, AZ 85142

$749,000

5 Beds

4.5 Baths

4,058 SqFt

Status Active

MLS # 6725728

Property Type Single Family Residence

Price Type --

Home now priced well below appraised value from June 2024. Great location, minutes to Mansel Carter Oasis Park, Los Colinas Golf Club, Phx Gateway Airport, shopping, dining, and more. Stunning 4 bedroom home with attached casita! Welcome to your dream home! This spacious property features a beautiful 4 bedroom, 3.5 bathroom main house with a bonus attached 1 bedroom, 1 bathroom, living room, full kitchen, and 1-car garage casita - perfect for guests, craft workshop, rental opportunity, whatever you can imagine!The main home boasts ample living space, modern amenities and design, and a comfortable atmosphere for you and your loved ones. Located in the desirable, gated community of Cielo Noche, this home offers the best of both worlds - privacy & convenience.

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5719 E Muriel Drive Scottsdale, AZ 85254

$749,000

4 Beds

2 Baths

1,941 SqFt

Status Active

MLS # 6730969

Property Type Single Family Residence

Price Type --

No HOA! Discover Scottsdale's coveted 85254 Magic Zip Code with Phoenix taxes! This cul-de-sac beauty combines location and lifestyle, offering access to top-rated Paradise Valley schools. This spacious home includes a open floor plan with soaring ceilings perfect for entertaining. The kitchen showcases hardwood cabinets and stainless steel appliances, while the inviting family room centers around a Travertine fireplace and opens to a large backyard. The primary suite features dual large closets, a soaking tub, and dual vanities. Outdoors, enjoy a PRIVATE POOL, covered patio, and lush lawn on a sizable 9,000+ SQ. FT. LOT! (AC was replaced 2022). Located just a few miles from Mayo Clinic, Scottsdale Quarter and Kierland Commons! This 1,941 sq. ft. home has 4 bedrooms, 2 bathrooms, and was built in 1987. It includes a two-car garage with shelves, indoor laundry, a wood-burning fireplace, and kitchen pantry. Located in the desirable 85254 Magic Zip Code, you'll enjoy a Scottsdale address with Phoenix taxes and utilities, all within the Paradise Valley school district. The home also features north/south exposure, block wall fencing for added privacy, and is just a few miles from shopping and dining.

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2219 N 74th Place Scottsdale, AZ 85257

$749,000

4 Beds

3 Baths

2,118 SqFt

Status Active

MLS # 6752913

Property Type Single Family Residence

Price Type --

Location, location, location! Discover the essence of Scottsdale living in this centrally located gem. Just minutes from spring training camps, premier golf courses, Eldorado Park, the Greenbelt Trail System, Old Town Scottsdale, Fashion Square Mall, ASU, and Sky Harbor Airport, this property offers unparalleled convenience. With no HOA fees, it's an ideal choice for short-term rentals. Recently renovated bathrooms and flooring. Don't let this one slip away!

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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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607 W Villa Rita Drive Phoenix, AZ 85023

$749,000

8 Beds

3 Baths

2,853 SqFt

Status Active

MLS # 6754987

Property Type Single Family Residence

Price Type --

ASSISTED LIVING/BEHAVIOR Home licensed for 10; 3 full baths, 2 half baths, 8 beds, granite tops, travertine and laminate flooring, fenced pool and spa. Garage was converted and has two bedrooms/den/office with side doors exits and half bath, included in total living area (permitted and recorded - That could be converted back with no effort). Extra parking on side of property. Rollin shower's. Fully furnished,. ALSO for lease at $7000/mo. Technical lien on property not affecting license or zooning.

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10753 E Sebring Avenue Mesa, AZ 85212

$749,000

4 Beds

3 Baths

2,800 SqFt

Status Active

MLS # 6754850

Property Type Single Family Residence

Price Type --

This exceptional property combines modern amenities with a tranquil setting, making it an ideal choice for your next home. Don't miss the opportunity to make this gem yours! The heart of the home features a high-end gourmet chef's kitchen with gas stove, large island, commercial hood, and complemented by sleek modern gray cabinets and pristine quartz countertops. Enjoy the chic ambiance of tile wood flooring and brand new baseboards and interior paint. The spacious open layout is perfect for entertaining guests. This home features an upgraded option for a larger laundry room and pantry, as well as an enclosed office. The 3-car garage offers plenty of storage and parking options.

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4155 E Page Avenue Gilbert, AZ 85234

$749,000

5 Beds

3 Baths

3,038 SqFt

Status Active

MLS # 6759741

Property Type Single Family Residence

Price Type --

Price To Sell! 3,000 SqFt w Pool in Morrison Ranch under $750k. This 5 bedroom, 3 bath home offers a full bathroom & bedroom on the main level. Situated w/in the popular Highland Groves community. This well thought out floor plan includes formal living, formal dining, family room just off the kitchen. Kitchen includes: Gas range, granite island, cherry cabinets w/ ample storage. Updated features include: ceramic tile throughout the main level and decorative wood tile on the 2nd level. Energy efficient LED lighting throughout. Sit back and relax in your low maintenance backyard with custom gazebo and sparkling pool with water feature!

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501 E Desert Hills Estate Drive Phoenix, AZ 85086

$749,000

3 Beds

2 Baths

1,933 SqFt

Status Active

MLS # 6760740

Property Type Single Family Residence

Price Type --

This beautifully remodeled 3-bedroom, 2-bathroom residence boasts 1,933 sq ft of modern living space on a spacious .83-acre corner lot w/NO HOA. Step inside to discover a bright, open floor plan with a fully updated Kitchen with stylish quartz countertops, appliances including an electric range stove, fridge, dishwasher & built-in microwave. Enjoy the convenience of a wine fridge and relax knowing that the brand-new A/C & heating system will keep you comfortable year-round. This property is an equestrian enthusiast's paradise! With horse stalls, a corral, two RV gates, 2 sheds and a covered patio. Plenty of room for your animals, trailers and toys! Enjoy the tranquility of country living close to amenities. Don't miss out on this rare opportunity & make this stunning property your own.

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7496 N Del Norte Drive Scottsdale, AZ 85258

$749,000

2 Beds

2 Baths

2,187 SqFt

Status Active

MLS # 6761474

Property Type Townhouse

Price Type --

Located in the vibrant McCormick Ranch community, this single-level townhome offers access to a heated pool, tennis courts, and the scenic Comanche Park just across the street. Enjoy an active lifestyle with nearby golf courses, trails, and top-notch dining, all within Scottsdale's premier master-planned neighborhood. Inside, this meticulously maintained home offers both privacy and comfort, with expansive views and modern upgrades throughout. Energy-efficient double-pane windows and doors, a 5-ton HVAC system (installed 2021), solar tubes, and a soft water system (installed 2021) enhance daily living. The spacious wrap-around yard provides a peaceful retreat with a flagstone patio, electric awning, electric and manual sun screens and tranquil fountain. The home layout has excellent space ...and flow for entertaining. The kitchen boasts granite countertops, pull-out shelves, and abundant cabinetry. The master suite invites relaxation, featuring dual closets with built-in storage, a luxurious soaking tub, and a walk-in shower with built-in bench and shelves. The spacious secondary bedroom also features a walk-in closet. This exceptional home combines the best of McCormick Ranch living with every amenity for comfort and style. Tons of Storage in the house and garage. As an added bonus in the garage is a utility sink, epoxy floors, and 2 storage closets.

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4655 N 183rd Drive Goodyear, AZ 85395

$749,000

4 Beds

3 Baths

2,603 SqFt

Status Active

MLS # 6762252

Property Type Single Family Residence

Price Type --

Highly sought after home in the Sedella Community This home screams quality and beauty. Along with the professionally landscaped front and back yard.as you enter through the front door you will be met with 10ft ceilings followed by the entrance into the gourmet kitchen with a very large island. your attention is brought to the 8ft sliding glass doors extending onto the massive patio that surrounds the pool with plenty of room to sit around the built in grill. Rv gate and 3 garages with plenty of storage this home has it all

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2929 W Amber Sun Drive Phoenix, AZ 85085

$749,000

4 Beds

3 Baths

2,532 SqFt

Status Active

MLS # 6762061

Property Type Single Family Residence

Price Type --

Welcome to this polished 4-bedroom, 3-bath home in the prestigious Stoneledge gated community. A rare built-in office with custom desk and storage is ideal for remote work. The gourmet kitchen features white cabinets, granite counters, and premium KitchenAid appliances, including a gas cooktop, double ovens, and a new fridge. Both a butler's pantry and an extra pantry add storage. The backyard retreat includes a saltwater pool, jacuzzi, BBQ island with smoker, fridge, and task lighting. Cool decking, travertine pavers, outdoor speakers, and a mounted TV complete the space. The garage has epoxy floors, custom cabinets, 220v power, and extra storage. Owned solar adds efficiency. Close to Fry's, Ridgeline Academy, and North Valley Christian Academy. A must-see!

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