#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

7221 E Eclipse Drive Scottsdale, AZ 85266

Open House

$735,000

3 Beds

2 Baths

1,856 SqFt

Status Active

MLS # 6763932

Property Type Townhouse

Price Type --

EFFORTLESS LIVING + ABUNDANCE IN LIFESTYLE + UNBEATABLE LOCATION!!! Experience the best of North Scottsdale living in this newly redesigned home in the exclusive gated community Solstice at Sevano! A community offering resort style living, nearby amenities and surrounding picturesque mountain vistas. Widely popular single level open floor plan with current interior design elements, natural light and tastefully furnished. Recent upgrades include fresh interior paint (2024), luxury vinyl plank floors (2020), HVAC (2017/2018) and water heater (2019). The outdoor area is a private sanctuary for tranquil enjoyment and relaxation. The professionally landscaped outdoor retreat offers a covered patio, extended patio pavers, seating areas, landscape lighting details and serene water feature... This gated community embodies a resort enclave with community heated pool & spa, BBQ area, covered ramada with fireplace and patio space for relaxing and entertaining. Located in the heart of N. Scottsdale, within minutes to world-class events like Barrett-Jackson Auto Show, Waste Management Phoenix Open, Scottsdale Arabian Horse Show and more. Other surrounding conveniences include Scottsdale Quarter, Kierland Commons, Market Street at DC Ranch, golf, hiking, biking trails and so much more! ** Furniture can be available on a separate bill of sale, excluding staging pieces**

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24741 N 175th Drive Surprise, AZ 85387

Open House

New

$735,000

4 Beds

3 Baths

2,583 SqFt

Status Active

MLS # 6783363

Property Type Single Family Residence

Price Type --

Luxurious Living in the Premier Heritage Adult Community! This exceptional residence offers attached casita, a perfect retreat for guests or independent living. Designed for both comfort & functionality, this home provides ample space for 2 cars & RV, making it ideal for both daily living & adventurous outings. The spacious great room seamlessly flows into a beautifully designed kitchen, showcasing stainless steel appliances, granite countertops, & extended mocha colored cabinetry. Front yard is beautifully landscaped w/ the bckyrd having an open pallet. Incredible amenities, including a clubhouse w/ game nights, live music, gym, & multiple pools. Residents can also enjoy pickleball courts, putting course, dog park, & catch&release pond. A new shopping center with shops & dining options!

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9050 W Tonopah Drive Peoria, AZ 85382

Open House

$735,000

5 Beds

3.5 Baths

4,011 SqFt

Status Active

MLS # 6727804

Property Type Single Family Residence

Price Type --

Welcome To Your DREAM HOME!! Presenting A Beautiful DREAM HOME In Spectacular Dove Valley Ranch! Resort Backyard With Sparkling Pool WOW! You Must Come Take The Tour of This Beautiful DREAM HOME! Five Large Spacious Bedrooms And Loft. Storage Everywhere. Beautiful Private Dream Master Suite Downstairs With Private Patio. You'll LOVE The 3 CAR GARAGE...And The Large Concrete Pad At RV Gate. Great Location! 10 minutes from Arrowhead Shopping and restaurants, 20 minutes from Lake Pleasant. 2 master suites, 1 downstairs with it's own private patio and 1 upstairs, both with huge closets. Perfect for large or multi-generational families. 3 additional large bedrooms upstairs all with walk-in closets. Plenty of storage everywhere. Updated kitchen and bathrooms, huge walk-in pantry and laundry room. Resort backyard with sparkling pool. Rv gate with concrete pad. This house is move in ready! Your Search Is Over! Come See This AMAZING DREAM HOME TODAY!!

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6225 W Kerry Lane Glendale, AZ 85308

$734,995

5 Beds

3.5 Baths

2,895 SqFt

Status Active

MLS # 6753871

Property Type Single Family Residence

Price Type --

Come & see this incredible 5 bed 3.5 bath home. At first glance you will quickly notice the super deep driveway and 3 car garage. Main level is open and spacious with living, dining, kitchen and great room that opens to the outdoor living through the huge retracting slider. Outside you will find a beautiful oasis including pool w/slide and jumping rock and a massive backyard space that just keeps going. Upstairs is an oversized owner's suite, flanked by two other bedrooms that share a hall bath. At the end of the long hallway you will find two more bedrooms that share a J&J bath and a bonus room. The home lives far larger than the size would indicate. With lots of great updates throughout this home is warm and welcoming. This fully operational Superhost ABB can come fully furnished

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19026 W Ocotillo Road Waddell, AZ 85355

New

$734,990

4 Beds

3.5 Baths

3,108 SqFt

Status Active

MLS # 6782529

Property Type Single Family Residence

Price Type --

MOVE-IN THIS YEAR!! The stunning Almeria on a corner lot with 4 beds, study, dining area, 3.5 baths and a 3 car split garage. Very private courtyard. Multi slide glass door of the great room that leads out to the covered patio Pavers at drive, walk and entry. Large walk in shower at owner's bath. Stainless steel gas appliance package with double oven, 36'' cooktop, microwave, canopy glass hood and dishwasher. Barnett Maple Slate (Gray) cabinets with 42'' kitchen uppers, pull out trash drawer w/two bins, enhanced kitchen island with AZT Della Terra Quartz Linen countertops. Stainless steel under mount single bowl kitchen sink. Flooring includes MS Solara Firenza 20x20 tile throughout the home except bedrooms and closets. Dual sinks at bath 3. Gas stub for future BBQ and soft water loop.

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8672 E Edgemont Avenue Scottsdale, AZ 85257

$734,990

3 Beds

2 Baths

1,749 SqFt

Status Active

MLS # 6739133

Property Type Single Family Residence

Price Type --

This stunning 3-bedroom, 2-bathroom is bathed in natural light, featuring a kitchen with stainless steel appliances, a spacious island with a breakfast bar, elegant granite countertops, and custom cabinetry. The luxurious master suite is a private retreat, complete with a sitting room, a large walk-in closet, and a lavish bath that boasts double sinks, a soaking tub, and a glass shower. The spacious extra bedrooms offer plenty of room for family or guests. The backyard also includes a large storage unit, an extended covered patio, and convenient RV gate and parking. No HOA. Ideally located near Old Town Scottsdale, 101 freeway, ASU, downtown Phx, and soon-to-come Whole Foods.

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4107 W Thurman Drive Laveen, AZ 85339

$734,990

4 Beds

3 Baths

3,024 SqFt

Status Active

MLS # 6753209

Property Type Single Family Residence

Price Type --

PHOTOS ARE OF MODEL HOME! Our beautiful Evolution plan features our Home within a Home including a large open great room, and has luxury Platinum features such as Chef Kitchen, Quartz counter tops , Sonoma Cherry Slate cabinets, and Super Luxury 8 x 36 plank tile flooring. This beautiful home has 4 bedrooms plus a study, 3 baths, 3 car garage. A copy of the public report is available on the Arizona Department of Real Estate's website.

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23960 N 73rd Place Scottsdale, AZ 85255

$734,990

3 Beds

2.5 Baths

2,346 SqFt

Status Active Under Contract

MLS # 6743568

Property Type Single Family Residence

Price Type --

Welcome to the beautiful north Scottsdale gated community of Los Portones. This 3 bd + den/office, 2.5 bath home is ready for you with a lovely heated private pool, BOTH AC UNITS BRAND NEW (11/7/24 install) all NEW concrete tile roof this year, FULL exterior paint 8/2/24, main bedroom downstairs, and open, airy living spaces. The backyard boasts 5 citrus trees and lots of covered patio space. Home is offered furnished as well! Community pool and spa are just a block away. This home could also be an excellent seasonal or long term furnished rental!

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70 E Kennedia Drive Queen Creek, AZ 85140

$734,900

2 Beds

2.5 Baths

2,173 SqFt

Status Active

MLS # 6745068

Property Type Single Family Residence

Price Type --

Builder lots are down to minimal options for building this very popular plan. As an added bonus, the seller has a 3.99% assumable VA Loan. Imagine being steps away from the clubhouse at Encanterra. This home gives you just that....Location, Location, Location! The open-concept great room flows seamlessly into a stunning gourmet kitchen, complete with an expansive quartz island, 5-burner gas cooktop, stainless steel appliances, fridge with built-in Keurig, and professionally selected backsplash and cabinets. The dining area and great room perfectly complement the kitchen, highlighted by a breathtaking rolling wall of glass that leads to a beautifully designed backyard with pavers and an outdoor gas fireplace, ideal for entertaining.

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20523 W Rosewood Lane Buckeye, AZ 85396

$734,900

2 Beds

2.5 Baths

2,142 SqFt

Status Active

MLS # 6755637

Property Type Single Family Residence

Price Type --

Discover unparalleled elegance in the coveted Cardinal Floorplan by K. Hovnanian Homes, nestled in the vibrant Victory District of Verrado. This award-winning 55+ Active Adult community offers an array of world-class amenities, including golf, pickleball, tennis, a state-of-the-art workout facility, spa, multiple pools (lounge, hot tub, lap), bocce ball, and an active social calendar with clubs, hiking, biking, and dining options. Step inside to experience a thoughtfully designed open-concept layout that features soaring cathedral ceilings and a spacious kitchen boasting ample storage, an expansive island, and premium stainless steel appliances. The home's interior exudes a perfect blend of modern luxury and comfort. The backyard is a private paradise, designed for both relaxation and entertaining. Enjoy Arizona's beauty year-round with travertine decking, a raised fire pit area, a custom rock wall, elevated planters, and lush artificial turf. The serene water feature and strategic uplighting create a tranquil ambiance that's sure to impress your friends, family, and guests. Embrace the Victory Lifestyle and schedule your private tour of this exceptional property today.

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19594 E Raven Drive Queen Creek, AZ 85142

$734,900

4 Beds

3 Baths

2,527 SqFt

Status Active

MLS # 6779192

Property Type Single Family Residence

Price Type --

Your Arizona oasis awaits you! This 4 bedroom 3 bath home on a rare 9,000 plus sq.ft. lot, and in a family friendly neighborhood is now available! Landscaped for privacy and surrounded by single story elevations, this home features a custom Iron Works front gate to an elegant 20 foot tall entry, solid surface flooring throughout, large kitchen with oversized granite island and stainless steel appliances, owners suite has a double vanity, walk in shower, walk in closet and large linen closet. The exclamation mark on this home is the stunning backyard, a large salt water pool with an in-floor cleaning system, 2 large shade structures covering both an outdoor kitchen and 6 person spa. Exterior walls are painted and feature 2 full panel murals by local artist Mauriel Morejon. See it today!

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20324 W Melanie Drive Wittmann, AZ 85361

$734,900

4 Beds

2 Baths

2,087 SqFt

Status Active

MLS # 6781255

Property Type Single Family Residence

Price Type --

Bring all your toys & RV! HUGE 1.145-acre lot, this newer acreage property will surely impress you. Fully owned solar w/18 hr battery back up will save you thousands! Upgraded interior showcasing a spacious great room, 10' ceilings. Impressive kitchen boasts built-in black S/S appliances, granite counters, ample cabinetry, walk-in pantry, and breakfast bar. Enter the main bedroom to find an ensuite with a soaking tub, tiled shower, dual sinks, & a walk-in closet. The expansive backyard, w/lg covered patio, citrus trees and pergola is where you can relax while enjoying great vistas. This property comes w/oversized 3.5-car garage w/vehicle charging station and RV gate w/covered 65' parking w/hookup. Bring your toys, trucks, & animals property has plenty of space for everything you need!

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