#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.

#1 Answer to the Housing Shortage: New Construction | Simplifying The Market

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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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!

2455 E Tonto Place Chandler, AZ 85249

$749,000
4 Beds
3 Baths
2,894 SqFt
Status Active
MLS # 6770183
Property Type Single Family Residence
Price Type --
Discover the Ultimate Canvas for Arizona Living in Chandler Step inside this 4-bedroom, 3-bathroom stunner and imagine the possibilities! Boasting nearly 2,900 sq. ft. of open living space, this home invites you to create your perfect oasis. With a brand-new roof and AC system already in place, all the heavy lifting is done. Enjoy split living for added privacy, with a spacious primary suite separated from the other bedrooms. The expansive backyard offers unmatched tranquility, with no house behind you—just open space to relax and unwind. Whether it's the huge living areas, flexible spaces, or the serene outdoor retreat, this home is full of potential. Nestled in a sought-after Chandler neighborhood, opportunity knocks—will you answer?

12356 E Pot O Gold Trail Florence, AZ 85132

$749,000
5 Beds
5 Baths
3,459 SqFt
Status Active
MLS # 6770369
Property Type Single Family Residence
Price Type --
This luxurious 5-bedroom, 5-bathroom home offers a spacious open-concept layout with modern design elements. The kitchen features sleek white cabinetry, a large island with bar seating, pendant lighting, and stainless-steel appliances. The living and dining areas are seamlessly connected, enhanced by large windows and contemporary light fixtures. The master bedroom exudes elegance with ample natural light. The home boasts wood-like tile flooring throughout, high ceilings, and multiple ceiling fans for comfort. A covered patio space opens to the outdoors, perfect for relaxation and entertaining. All this while being on over 1 acre of property.

13711 E Lucia Drive Scottsdale, AZ 85262

$749,000
4 Beds
3 Baths
3,063 SqFt
Status Active
MLS # 6777757
Property Type Single Family Residence
Price Type --
Stunning 3,063-Sq. Ft. single-level residence offers the perfect blend of space, comfort, and style. Nestled on a one-acre lot. As you step inside, you'll be greeted by a bright, inviting, open floor plan that seamlessly connects the living, dining, and kitchen areas. Standout feature of this home is the foam insulation, which enhances energy efficiency and ensures a comfortable environment year-round.The spacious living room features large windows, flooding the space with natural light while providing a cozy atmosphere for gatherings. The kitchen is a culinary delight, equipped with modern appliances and ample counter space. This home boasts a thoughtfully designed Jack and Jill bathroom connecting two spacious bedrooms.Est completion Jan/Feb 2025. Home features a three-car attached garage, providing plenty of space for vehicles, storage, or even a workshop. Whether you're a car enthusiast or need extra room for outdoor equipment, this garage is both functional and practical.

5910 E Hillery Drive Scottsdale, AZ 85254

$749,000
4 Beds
2 Baths
2,190 SqFt
Status Active Under Contract
MLS # 6760266
Property Type Single Family Residence
Price Type --
Completely gutted brand new 4 bedroom home. Open floor plan features two living rooms, eat in kitchen and dining book. Designer finishes throughout. New ductwork, updated electrical throughout. New plumbing and updated trim. Gorgeous tilework., new appliances and fixtures. Everything is brand new. All new custom cabinetry throughout. Perfect location in 85254, Must see!!!!

3519 E Piccadilly Road Phoenix, AZ 85018

$749,000
4 Beds
2.5 Baths
1,909 SqFt
Status Active Under Contract
MLS # 6716471
Property Type Single Family Residence
Price Type --
Welcome Home to Piccadilly Reimagined! This Arcadia Lite charmer is just what you've been looking for! As you pull up to your new abode you'll be greeted by a lush yard and welcoming front porch. Step inside and you'll be wow'd by the bright, open floor plan perfect for entertaining and everyday living alike! This home has been thoughtfully updated and features a large primary suite, three additional bedrooms, a full hall bathroom and convenient powder room off of the living room. Outside you'll find your oasis in the desert! The large patio, built-in BBQ, fire pit, a perfectly-sized grass area and raised flower beds make this house the perfect home! This property has it all and is located just minutes from the best dining, shopping, and hiking Phoenix has to offer!

1861 N Bernard Circle Mesa, AZ 85207

$749,000
4 Beds
3 Baths
2,244 SqFt
Status Active Under Contract
MLS # 6730707
Property Type Single Family Residence
Price Type --
Welcome to a dazzling desert sanctuary nestled within the illustrious gated community of Canyon Preserve. This rare and resplendent 4-bedroom masterpiece, set on a premium desert lot adorned with awe-inspiring natural rock formations and panoramic mountain vistas, redefines luxury and comfort. As you approach, a meticulously designed paver driveway guides you to the stately entrance of this palatial residence, setting the tone for the opulence that awaits within. The custom kitchen is an absolute chef's paradise, boasting an eye-catching backsplash, Café Signature oven and microwave, sumptuous quartz countertops, and sleek, modern hardware and fixtures. An integrated reverse osmosis system ensures the highest quality water. Adjacent to the kitchen, the laundry room is a paragon of elegance, featuring a butcher block counter space and ample cabinetry that make everyday chores feel like a luxurious experience. The great room exudes sophistication with its decorative wallpaper, designer lighting, and expansive sliding glass doors that open to the backyard. This seamless blend of indoor and outdoor living spaces invites you to bask in the stunning desert landscape and jaw-dropping mountain views. The primary bedroom serves as a serene retreat, offering picturesque views of the desert and mountains. The updated en-suite bath is a haven of luxury, featuring a walk-in closet with built-ins, a dual vanity with additional drawer space, and a linen closet for ample storage. Guest bedrooms are adorned with blackout shades, ensuring ultimate comfort and privacy. Throughout the home, ceramic Saltillo tile adds a touch of Arizona charm, enhancing the warm, inviting ambiance. The garage provides overhead storage, offering plenty of space for all your needs, ensuring your home remains organized and clutter-free. As a resident of the Canyon Preserve gated community, you'll enjoy access to the Mountain Bridge community center, where an array of fabulous amenities awaits. Delight in the pool, spa, tennis and pickleball courts, children's playground, fitness center, basketball courts, and a putting green, all designed to enrich your lifestyle. Discover the epitome of desert luxury in this beautifully updated home. Discover the unparalleled comfort, elegance, and breathtaking views that this exceptional property and community have to offer.

10142 E Trent Avenue Mesa, AZ 85212

$749,000
4 Beds
2.5 Baths
2,462 SqFt
Status Active Under Contract
MLS # 6759108
Property Type Single Family Residence
Price Type --
Stunning 4-Bedroom Toll Brothers Home with Pool & Spa - Turn-Key Perfection! Welcome to your dream home! This highly upgraded Toll Brothers masterpiece boasts 4 spacious bedrooms, 2.5 luxurious bathrooms and countless premium finishes. Dive into luxury with your heated pool and spa, perfect for year-round relaxation and entertainment. The backyard is an entertainer's dream with a fully landscaped oasis, extended patio, and built-in outdoor speakers ideal for hosting or simply unwinding. Inside, the open-concept living space features a built-in fireplace, setting a cozy ambiance, while built-in speakers deliver high-quality sound for an immersive entertainment experience both indoors and out. Garage is extended 7ft long for someone who needs that extra space! The extended 27ft garage offers ample space for oversized vehicles, storage, or a workshop. This home is truly turn-key ready, with everything from high-end upgrades to thoughtful design elements already in place. With its luxurious features and meticulous attention to detail, this is a rare opportunity to own a move-in ready gem that offers the best in comfort, style, and convenience. Set up your private tour today. This one won't last long!

3427 N 153rd Lane Goodyear, AZ 85395

$749,000
2 Beds
2 Baths
2,183 SqFt
Status Active Under Contract
MLS # 6767468
Property Type Single Family Residence
Price Type --
Stunning model home in prestigious PebbleCreek gated community. Completely remodeled with upscale design throughout. Open concept great room/kitchen with built-in bookshelves, fireplace, dining area, kitchen island, breakfast nook, walk-in pantry, elegant wine bar area and under cabinet lighting. Flex room is currently set up as entertainment/game room but could be used as office/den or additional bedroom. Master bath with back-light mirror, walk-in shower boasting 2 rain shower heads. Large walk-in master closet. Plantation shutters throughout.

17205 W Middlebury Street Surprise, AZ 85388

$749,000
4 Beds
3 Baths
2,542 SqFt
Status Active
MLS # 6722037
Property Type Single Family Residence
Price Type --
Incredible opportunity to buy a brand new stunning home in golf course gated community ! This stunning 4-bedroom, 3-bath residence is complete with a 2-car garage, an inviting paver driveway, and tasteful stone accents. The great room showcases high ceilings, a soothing palette, and stylish wood-look flooring. The impeccable kitchen features sleek quartz counters, abundant wood shaker cabinets with crown moulding, recessed lighting, a subway tile backsplash, stainless steel appliances, a walk-in pantry, and a large island with a breakfast bar. The main bedroom offers plush carpeting, an ensuite with dual sinks, and a walk-in closet. The backyard boasts a covered patio and generous space for hosting memorable gatherings. Don't miss out on this one!

3114 W Stephens Place Chandler, AZ 85226

$749,000 - 4Br/2Ba -  for Sale in Sunset Cove, Chandler
Open House
$749,000
4 Beds
2 Baths
2,421 SqFt
Status Active
MLS # 6773359
Property Type Single Family Residence
Price Type --
Stunning, updated, designer-inspired single-level home on an oversized cul-de-sac lot with an open, light-filled floorplan, vaulted ceilings, and tons of upgrades. The show stopping kitchen was fully remodeled with tons of cabinetry, all stainless steel Viking appliances, including a beverage refrigerator! This home offers everything you are seeking: 4 bedrooms, 2 baths, a split floor plan, an insulated 3-car garage, and a sparkling PebbleTec pool with an energy-efficient pump and removable safety fence. Spend time outside enjoying misters at patio, fire pit & citrus trees. BBQ area is icing on the cake for entertainer's dream yard. The secondary bathroom has been beautifully updated this year! Located in the highly acclaimed Kyrene School District and within the Corona Del Sol High School boundaries. Close to Chandler Fashion Mall with easy access to the 101 Freeway.

2625 W Via Vista Phoenix, AZ 85086

$749,000 - 4Br/4Ba -  for Sale in Tramonto Parcel E-17, Phoenix
Open House
$749,000
4 Beds
3.5 Baths
3,060 SqFt
Status Active
MLS # 6778360
Property Type Single Family Residence
Price Type --
Views! Views! Views from every direction in this prime location with walking path to tennis court and pool. Stunning home in the master planned community of Tramonto with amenities galore! Beautiful, rounded corridors, plantation shutters, and Intricate details throughout. An attached casita with living, bedroom, bathroom, and separate entrance from the lovely courtyard, are in addition to the other 3 bedrooms and 2.5 baths. The main retreat boasts tray ceilings, a spa-like ensuite, an enormous closet, and patio access. The amazing backyard includes a covered patio and extended flagstone seating area to gaze at the mountains. This home has it all and is absolutely beautiful! Don't miss the opportunity to see this beauty!

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