#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

1239 E Kramer Circle Mesa, AZ 85203

$739,000

5 Beds

3 Baths

2,781 SqFt

Status Active

MLS # 6741871

Property Type Single Family Residence

Price Type --

This single level 5-bed, 3-bath home sits on a quiet cul-de-sac in a gated community. Curbside, you see an immaculate front yard, and the extended driveway leads to a 3-car garage. The living/dining room welcomes you with a soothing palette, plantation shutters, and attractive wood-look floors. The great room features high ceilings and an inviting fireplace. Sliding doors open to a beautifully landscaped backyard with an inviting pool and putting green. The chef's kitchen features granite counters, abundant white cabinetry with crown molding, mosaic tile backsplash, stainless appliances, a pantry, and an island breakfast bar. The main bedroom offers clerestory windows for natural light, an ensuite with dual sinks, and a walk-in closet. Outside, the covered patio, putting green, and refreshing pool create an enchanting oasis. Don't wait!

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2402 W Cj Drive Flagstaff, AZ 86001

$739,000

3 Beds

2.5 Baths

2,128 SqFt

Status Active

MLS # 6748951

Property Type Single Family Residence

Price Type --

Impeccable, spacious home has a beautiful open floor plan & shows like a model. That gorgeous furniture? It's all included! 9-ft ceilings; huge windows; large, great room & dining area; the private courtyard & the lemonade worthy front porch make it perfect for entertaining. Loaded w upgrades including wood-look Tile & Vinyl floors, stainless appliances, granite counters & maple cabinets. Walk-in closets in every bedroom. Primary has 2 closets & oversized walk-in tiled shower. Ample storage w closet under the stairs. Air Conditioning of course! Don't forget the car charger in the garage. Only a 1 minute walk to the park. Truly a turnkey home!

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1201 W Washington Avenue Gilbert, AZ 85233

$739,000

5 Beds

3 Baths

2,876 SqFt

Status Active

MLS # 6755750

Property Type Single Family Residence

Price Type --

Welcome to this stunning/beautiful two-story home situated on an inside corner lot in the heart of Gilbert, AZ. This 5-bedroom, 3-bathroom residence offers everything you need for comfortable and luxurious living. As you approach the home, you'll notice the impressive 3-car garage and RV gate, providing ample space for vehicles, as well as extra parking available on the large side yard. The spacious backyard is a true oasis, featuring a sparkling blue pool, complete with a soothing water feature, perfect for cooling off during Arizona's warm days. The large, tranquil grassy area is ideal for outdoor activities, gardening, or simply unwinding in your own private sanctuary, complete with a little house/shed for endless possibilities. Inside, you're greeted by vaulted ceilings that create an open and airy atmosphere. The formal living and dining rooms provide an elegant space for hosting gatherings and special occasions. The open eat-in kitchen is a chef's delight, complete with a center island and breakfast bar, stainless steel appliances, and seamless flow into the cozy family room. Here, you can enjoy evenings by the gas fireplace, making it the perfect spot for relaxation. Upstairs, the primary bedroom serves as a luxurious retreat, featuring an ensuite bathroom with dual sinks, a separate shower, a deep soaking tub, and a spacious walk-in closet. Three additional bedrooms and a guest bathroom are also located on the upper level, providing plenty of space for family and guests. A fifth bedroom is conveniently located downstairs, ideal for a home office or guest room. The home is part of a friendly community that offers a pool, park, and playground, making it a great place for get togethers. Its location is unbeatable, with popular restaurants, convenient shopping, McQueen Park, and local schools just a short drive away. Don't miss the opportunity to make this incredible home your own and enjoy all that Gilbert has to offer!

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3020 N 24th Place Phoenix, AZ 85016

$739,000

3 Beds

2 Baths

1,662 SqFt

Status Active Under Contract

MLS # 6770644

Property Type Single Family Residence

Price Type --

A rarely preserved MCM gem just outside of one of Phx's coolest hoods - Phoenix Homesteads. The perfect time of year to make this time capsule your new home - just as the neighbors are getting ready to light up ''Candy Cane Lane''. Sunken planters, floor to ceiling windows, block construction and flagstone floors are a few of the ''they don't make 'em like they used to'' highlights. Design Builder William Corbett Jr. paid homage to his ship building father through the stunning walls and ceilings of beautiful Redwood. A special house looking for an equally awesome new owner.

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20930 E Canary Way Queen Creek, AZ 85142

Open House

$739,000

5 Beds

4 Baths

2,752 SqFt

Status Active

MLS # 6772572

Property Type Single Family Residence

Price Type --

Beautiful Taylor Morrison Next Gen Home In Queen Creek. This stunning 4 year old Taylor Morrison Resale offers the ultimate in modern living with a unique attached casita featuring a private entrance, perfect for multi-generational living or quests. The home boasts a bright, open floor plan, complete with sleek, updated ceiling fans and light fixtures throughout. A massive sliding glass door seamlessly connects the indoor living space to the outdoor patio, providing a perfect flow for entertaining. The gourmet kitchen is a chef's dream, showcasing granite countertops, an oversized island with a breakfast bar, and soft-close cabinets and drawers--all equipped with convenient roll-out shelves. The kitchen also includes a gas cooktop, dual electric wall ovens, and a spacious walk-in pantry. Enjoy the added benefit of a whole-house water filtration system, along with a separate under-counter reverse osmosis (RO) system for purified drinking water. Security and elegance blend with custom iron security entry doors and a beautifully designed cobblestone driveway and entry sidewalk. The backyard oasis features a heated and cooled saltwater pebble tech pool with a tranquil water feature, powered by a cutting-edge heat pump system. Ideally located close to major shopping centers, fine dining, and entertainment, this home offers both luxury and convenience, a perfect fit for families. Don't miss your chance to own this incredible home in the heart of Queen Creek.

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120 Rio Sinagua -- Sedona, AZ 86351

Open House

$739,000

2 Beds

2 Baths

1,630 SqFt

Status Active

MLS # 6763949

Property Type Townhouse

Price Type --

This courtyard entry home in Las Piedras boasts prime N/S exposure and stunning red rock views, with no neighbors directly in front or behind! Featuring 2 bedrooms, 2 baths, and a bonus space ideal for a desk or reading nook, this split-plan layout offers privacy with spacious bedrooms, walk-in closets, and adjoining ensuites. The dramatic turret entry with a 16-foot ceiling leads to a great room with a 12-foot volume ceiling, formal dining area, and a cozy gas fireplace. Enjoy the oversized back patio, which offers nearly unobstructed views of Court House Butte. Island kitchen is equipped with wall ovens, a cooktop, a large pantry, and a breakfast nook with corner windows framing the views. The primary suite features dual sinks, a separate tub, and a shower. Oversized garage w/storage!

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8707 E Valley Vista Drive Scottsdale, AZ 85250

Open House

$739,000

3 Beds

2 Baths

1,590 SqFt

Status Active

MLS # 6749028

Property Type Single Family Residence

Price Type --

MOTIVATED SELLER! Discover your dream home in this stunning, contemporary residence, nestled on a quiet cul-de-sac. This prime location is unbeatable, just moments away from the vibrant heart of Old Town Scottsdale, with its excellent restaurants, charming shops and amenities. Newly remodeled to perfection, this home boasts a chef's kitchen, an expansive open living area, and spa-like bathrooms, all designed with exceptional attention to detail. Step outside to your private oasis, featuring a bocce ball court, above ground spa, and a covered seating area perfect for outdoor entertaining. Make this exceptional property yours and experience the finest in luxury living! Furniture available for purchase.

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8716 E Mitchell Drive Scottsdale, AZ 85251

Open House

$739,000

3 Beds

2 Baths

1,713 SqFt

Status Active

MLS # 6755477

Property Type Single Family Residence

Price Type --

UPDATED, MOVE-IN Ready, adorable home near Old Town Scottsdale! NEW A/C 2024! BONUS ROOM! QUARTZ countertops, stainless stainless steel appliances, updated wood flooring throughout! Wine bar/coffee bar! Separate dining room or den! Private backyard! North/South exposure! NO HOA! NO POWER-LINES. Adorable KIVA for cool nights with built-in bbq grill! Perfect single-story home near schools, Scottsdale shopping, favorite restaurants, Spring-Training, entertainment! Great opportunity for Short-term rental! You don't want to miss this one! Furniture is negotiable. New irrigation system, 2024! Split floor plan! Clean and spacious pool! Storage shed, not visible from patio. New A/C 2024! Home Warranty!

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2957 E Cherry Hill Drive Gilbert, AZ 85298

$738,990

5 Beds

3 Baths

3,625 SqFt

Status Active

MLS # 6746042

Property Type Single Family Residence

Price Type --

BRAND NEW KB HOME! This home features an open floor plan with 9-ft. first floor ceilings and a spacious great room that opens to an extended covered back patio. The modern kitchen boasts a large center island, quartz countertops, and Whirlpool® stainless-steal appliances, including a built-in double wall oven and separate gas cooktop. You'll find Emser® tile flooring throughout the first level, laundry and bathrooms and plush Shaw® carpeting upstairs. The first level includes a private den, versatile flex space and a bedroom with full bath. Moving upstairs, the spacious loft is the perfect spot for family movie nights. The primary suite boasts an expansive closet, and the primary bath features a walk-in shower and extended dual-sink vanity.

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8404 W Palo Verde Drive Glendale, AZ 85305

$738,929

5 Beds

3 Baths

3,268 SqFt

Status Active

MLS # 6755753

Property Type Single Family Residence

Price Type --

MLS#6755753. January completion! NO BACK NEIGHBORS! The Breckenridge at Stonehaven Voyage. This spacious one-story floorplan has it all! The welcoming front porch entry leads to an impressive foyer. A cozy guest bedroom with walk-in closet and nearby full bath are conveniently located just off the foyer. A home office with views of the kitchen creates a connected space to stay productive. The expansive island overlooks the casual dining and gathering room. Tucked away for privacy, two additional bedrooms each with walk-in closets share a hall bath. The plush owner's suite includes a Large walk-in closet and spa-like bath complete with soaking tub and separate shower. Structural options included: bedroom 5 in lieu of dining, expanded laundry in lieu of tandem, pre plumb for laundry sink, gas line for future dryer, gas line for future outdoor kitchen, and RV gate.

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17762 W Colter Street Litchfield Park, AZ 85340

$738,594

6 Beds

4 Baths

3,850 SqFt

Status Active

MLS # 6752221

Property Type Single Family Residence

Price Type --

MLS#6752221 Ready Now! The Hampton is a 2-story floor plan with 3,850sq. ft., featuring 6 bedrooms, 4 bathrooms, a 3-car split garage, game room, primary suite retreat, study, dining area, and a courtyard. Welcome to your dream home, this floor plan is designed for luxury. The spacious owner's suite has its own foyer leading to a primary bath with split vanities and a large walk-in closet. The primary suite retreat enhances your private haven. All bedrooms are upstairs, ensuring privacy from the active first level. This floor plan could be perfect for your next move. Structural options include: Guest suite downstairs, garage service door, bedroom 5 upstairs.

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34284 N Sandpiper Trail Queen Creek, AZ 85144

$738,431

3 Beds

3 Baths

2,770 SqFt

Status Active

MLS # 6726623

Property Type Single Family Residence

Price Type --

Welcome to this stunning home in Emblem at Oro Ridge, you will love the charming courtyard and 3 car tandem garage! Boasting 3 bedrooms, a hobby room, a den, and designer touches throughout this home is a dream. The Gourmet kitchen is gorgeous with Quartz countertops, stacked shaker cabinets, stainless steel gas appliances, under cabinet lighting, and upgraded waterfall kitchen island. Plus matte black fixtures, upgraded doors and baseboards, upgraded electrical and low voltage, and wood floors in main areas. The primary suite is spacious with a lavish ensuite featuring a dual sink vanity and a walk-in tiled shower. The backyard offers an expansive covered patio! Do not miss out on this home!

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