#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

4407 W Waltann Lane Glendale, AZ 85306

$748,000

3 Beds

2 Baths

2,124 SqFt

Status Active

MLS # 6729262

Property Type Single Family Residence

Price Type --

Experience the allure of Sunburst Farms in this spacious 2,000 sq ft single-level home on a generous .83-acre lot. Offering a serene and peaceful retreat. Surrounded by mature shade trees, enjoy relaxing on the large front porch in this quiet haven. The expansive backyard with RV parking provides ample space for outdoor enjoyment. Inside, discover tasteful updates including tile flooring, granite counters, a tile walk-in shower in the primary bath, and large windows that flood the home with natural light and picturesque views. Don't miss this exceptional opportunity!

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37408 N 240th Drive Morristown, AZ 85342

$748,000

3 Beds

3 Baths

2,621 SqFt

Status Active

MLS # 6731330

Property Type Single Family Residence

Price Type --

Home has free internet, internet pole on property has a transferable agreement with Phoenix internet providing a monthly income. Main home has two bedroom two bath, granite countertops, tile floors throughout, built-in coffee pot, two-car garage attached, soak in tub, wood blinds, all appliances. Attached casita / mother-in-law quarters one bedroom one bath, kitchen has a cooktop stove only, built in coffee maker, handicap Jacuzzi tub, one car attached garage for your own private entry. Great private courtyard with pavers. Property is 1.25 acres, shared well has total of four homes. Property is fenced. 20 ft conex for feed and tack, horse area fenced. Bring your horses and toys / ATVs riding right out your door. RV pedestal accommodates two RV hookups 30 amp and 50 amp, sewer and water. Great spot for ropers not far from Dillons, Horns and Hooves arenas, and 20 minutes from Wickenburg. Home is wired for solar and security system but not installed and is ready for final installation if desired by new owner.

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985 S Vulture Mine Road Wickenburg, AZ 85390

Open House

$748,000

4 Beds

2 Baths

2,445 SqFt

Status Active

MLS # 6669013

Property Type Single Family Residence

Price Type --

Step inside & be greeted by a large great room featuring a cozy fireplace, the master suite boasts a generous walk-in closet, smart/utility room that can be used as an office or crafting space, kitchen is equipped with stainless steel appliances & ample counter space, from the kitchen enjoy outdoor living on the expansive deck overlooking the spool/pool complete with jets & scenic mountains, the finished walkout basement is Ideal for guests that offers additional living space and includes a bonus room that can be used as a home office or extra bedroom, RV garage 24 x 36 complete with a hoist for overhead storage & a convenient air hose, 4 horse pens, 1 RV plug-in, new roof underlayment was installed in 2022 ensuring peace of mind for years to come, room for all your hobbies & toys

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347 E Bracciano Avenue Queen Creek, AZ 85140

$747,881

2 Beds

2 Baths

1,882 SqFt

Status Active

MLS # 6716802

Property Type Single Family Residence

Price Type --

Indulge in the epitome of refined living with this exquisite 2 bed, den, 2 bath home, boasting over 1,882 sq. ft. of luxury and elegance. From the moment you step inside you'll notice this Refresh plan has detail found throughout. The heart of the home is a culinary enthusiast's dream - a gourmet kitchen that exudes sophistication with its pristine white cabinets and an impressive array of high-end stainless steel appliances. Whether you're whipping up a quick breakfast or preparing a lavish feast, this kitchen is sure to inspire your inner chef. The thoughtfully upgraded baths elevate your daily routine to a spa-like experience, featuring tasteful finishes and modern fixtures. Imagine unwinding in the serene ambiance of your master bath after a long day. This home is ready for you!

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2045 Bella Vista Loop Williams, AZ 86046

$747,500

4 Beds

2.5 Baths

2,049 SqFt

Status Active

MLS # 6669032

Property Type Single Family Residence

Price Type --

New luxury homes on 5-12 Acres. SELLER TO BUY DOWN BUYERS INTEREST RATES. Bring your rustic side to this modern ranch-style, 4 bedroom retreat set on Coconino acreage. The ''Hillcrest'' base model features a spacious 2049 sq ft floorplan with split bedrooms divided by the kitchen/living area. The open living room & kitchen has a large waterfall island, tile backsplash & a walk-in pantry. Features also include dual paned windows, an extended length 3-car garage & large covered back patio. Red Lake Mountain Ranch is a gated paradise placed between Williams and the Grand Canyon National Park. Subdivision covers 320AC, 54 unique home sites from 5 to 12 acres, each with its distinctive terrain and panoramic views. 5000 Gallon Cistern. Owner/Agent Listing. Legal Desc. to be confirmed by title.

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7086 E Whispering Mesquite Trail Scottsdale, AZ 85266

$747,000

2 Beds

2 Baths

1,410 SqFt

Status Active

MLS # 6779584

Property Type Single Family Residence

Price Type --

Updated 2/2 Arbor Model in Terravita! North/South Exposure with Views of Black Mountain. Perfect as Second Home or Vacation Rental. Gas Fireplace, 14-Foot Ceilings, and Large Windows add to the Open Feeling. Located On Cul-De-Sac Lot Close to Clubhouse Amenities. Home Ownership in Terravita Includes 24-Hour Guard Gated Security. Social Membership Managed by Troon with Access to Many Activities Including Restaurant, Tennis Court, Heated Pool/Spa, Pickleball Court, Activity Center with Classes and Art Room, Fitness Center. Separate Private Golf Membership Available. Can Be Purchased Turnkey with Furnishings Available on Separate Bill of Sale. See List of Updates in Documents

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23108 N Pedregosa Drive Sun City West, AZ 85375

$747,000

3 Beds

2.5 Baths

2,443 SqFt

Status Active

MLS # 6761535

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the prestigious, age restricted community of Corte Bella Country Club. This FULLY FURNISHED gem overlooks the 6th fairway, offering breathtaking golf course view and spectacular Arizona sunsets. Kitchen features warm wood cabinets, granite countertops, double ovens, gas range, pantry with a view of the great room with cozy fireplace. Split bedroom layout for added privacy! The primary features a bay window, en-suite bath w/dual sinks, jetted tub, walk in shower & spacious closet. 2 Guest rooms on opposite side of house w/guest bath conveniently situated between them. 1/2 Bath added to Laundry Room. Glass doors make the Den versatile! You will love OUTDOOR LIVING on covered patio complete w/ natural gas BBQ and those VIEWS! HUGE extended garage w/cabinets! Enjoy the luxurious lifestyle and amenities that Corte Bella Country Club has to offer!

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8875 E Conquistadores Drive Scottsdale, AZ 85255

$747,000

3 Beds

2 Baths

1,835 SqFt

Status Active Under Contract

MLS # 6741148

Property Type Single Family Residence

Price Type --

Nestled in the heart of North Scottsdale, this charming single-family home offers a perfect blend of comfort and functionality. The property features two spacious bedrooms and a versatile office space, ideal for remote work or a hobby room. The interiors have been lightly updated to retain their classic charm while providing modern conveniences. As you step inside, you're greeted by an inviting living area with abundant natural light and a cozy atmosphere. The kitchen, equipped with updated appliances and ample counter space, is perfect for both everyday meals and entertaining guests. The adjacent dining area offers a seamless flow for gatherings and family dinners. The master bedroom serves as a tranquil retreat, complete with an en-suite bathroom and generous closet space. ......The second bedroom is equally spacious and shares a well-appointed bathroom with the office, which can easily be converted into a third bedroom if needed. Outside, the low-maintenance backyard offers a private oasis with a patio area perfect for outdoor dining or relaxation. Mature landscaping provides shade and adds to the serene ambiance of the property. Located in a desirable neighborhood, this home is close to top-rated schools, shopping, dining, and outdoor recreational opportunities, making it an ideal choice for anyone looking to enjoy the best of North Scottsdale living.

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4801 E Nisbet Road Scottsdale, AZ 85254

$746,000

3 Beds

2 Baths

1,750 SqFt

Status Active

MLS # 6754693

Property Type Single Family Residence

Price Type --

Seller may consider buyer concessions if made in an offer. Introducing a stunning property that boasts a multitude of sought-after features. The interior shines with a fresh neutral color paint scheme, enhancing the ambiance of the home. The primary bedroom comes complete with a walk-in closet and a bathroom fitted with double sinks. The kitchen is a chef's dream with a center island, accent backsplash, all stainless steel appliances. The living room features a cozy fireplace, perfect for cooler evenings. Step outside to a fenced-in backyard, complete with a private in-ground pool and a patio, ideal for outdoor entertaining. With a new roof, this home is ready for you to make it your own. Don't miss out on this gem!

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4331 E Campbell Avenue Phoenix, AZ 85018

$745,000

3 Beds

2 Baths

1,437 SqFt

Status Active

MLS # 6722879

Property Type Single Family Residence

Price Type --

This lovely home is perfectly located on a corner lot in the heart of Arcadia. You'll love the sense of peace from the mountain views of Camelback Mountain and Piestwa Peak. Charming three-bedroom, two-bathroom home with recent upgrades; third bedroom ideal as an office or den. The neighborhood makes it even more special w/ hiking, biking, restaurants & Scottsdale Schools!

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492 W Redwood Lane Pinetop, AZ 85935

$745,000

3 Beds

2 Baths

1,793 SqFt

Status Active

MLS # 6752566

Property Type Single Family Residence

Price Type --

Discover your fully furnished dream home, built in 2021 and nestled in the serene Top of the Woods community. This contemporary residence offers a blend of high-end features and thoughtful design elements, ideal for modern living. The home is bathed in natural light through tinted dual pane windows, adorned with elegant Norman Shades for privacy and energy efficiency. Stay cozy by the gas fireplace on chilly evenings, and enjoy peace of mind with a powerful 22 KW backup generator. The expansive kitchen is a chef's paradise, featuring a large island with a butcher block countertop, a farmhouse sink, a gas range, and soft-close cabinets and drawers. The luxurious bathrooms boast granite vanities and beautifully tiled showers for a spa-like experience The spacious garage comes equipped with metal storage cabinets, providing ample space for all your toys and storage needs. Modern conveniences include a tankless water heater and composite decking on both the front and back decks. Relax or entertain on the spacious covered back deck, surrounded by the beauty of tall pine trees. Experience contemporary living in a tranquil setting. Call today for your visit and make this exquisite Top of the Woods home your own!

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1312 E Via Sicilia Road San Tan Valley, AZ 85140

$745,000

4 Beds

3 Baths

2,944 SqFt

Status Active

MLS # 6757700

Property Type Single Family Residence

Price Type --

Experience the perfect harmony of luxury and savings with this exquisite home, featuring owned 10.4kW solar panels for instant energy cost reductions. There are no other additional costs associated with the solar panels. Nestled on over 1/3 acre in an exclusive gated community, this corner lot property exudes privacy and tranquility. Inside, two spacious den areas offer ample room for entertaining, while the gourmet kitchen, complete with a gas range and expansive island, elevates both everyday dining and special gatherings. Outside, unwind in the serene backyard oasis under the pergola, surrounded by the sweet fragrance of citrus trees. Luxury living has never been this efficient!

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