#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

10328 W Alyssa Lane Peoria, AZ 85383

$734,900

4 Beds

3 Baths

2,119 SqFt

Status Active

MLS # 6765934

Property Type Single Family Residence

Price Type --

Your DREAM haven is here! Elegance meets comfort in this gorgeous 4-bed, 3-bath home in Tierra Del Rio. Stone accent details, a mature landscape, an RV gate, and a 2-car garage are just the beginning. Home exudes elegance with plantation shutters, layered crown molding, stylish light fixtures, recessed lighting, a neutral palette, wood-look tile flooring in common areas, and plush carpet in bedrooms. The perfectly flowing open layout is adorned with a fireplace, perfect for everyday living & entertaining! The impressive kitchen boasts sleek SS appliances, granite counters, a subway tile backsplash, a walk-in pantry, staggered white cabinetry, and an island w/breakfast bar. The open den provides versatility! The owner's suite has a lavish bathroom with dual vessel sinks & a walk-in closet. Laundry room with cabinetry for added convenience. Beyond the interiors, the backyard oasis holds its own charm! With mountain views, a covered patio, Ramada, string lights, well-laid pavers, a firepit, artificial turf, and a sparkling pool & spa combo, this space promises year-round enjoyment. The storage shed is an added perk. PLUS! This gem also has SOLAR PANELS for energy savings. See it! Love it! Live it!

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3308 S Country Club Way Tempe, AZ 85282

$734,900

4 Beds

2 Baths

2,205 SqFt

Status Active Under Contract

MLS # 6746849

Property Type Single Family Residence

Price Type --

Completely Remodeled 4-Bedroom, 2 bathroom home with Stunning Pool on a Huge Lot in a Well-Established Neighborhood - No HOA! Step into modern elegance with this beautifully remodeled home. The property seamlessly blends contemporary design with timeless comfort, offering a spacious layout perfect for family living and entertaining. The home features two inviting living spaces, one of which includes a cozy fireplace, ideal for relaxing evenings. The heart of the home is the stunning chef's kitchen, equipped with sleek cabinetry, high-end stainless-steel appliances, including a 6 burner gas stove, ample counter space, and natural lighting due to the skylight above, perfect for culinary enthusiasts. Right next to kitchen is the perfectly placed dining area for family feasts. Every inch of this home has been thoughtfully updated including new flooring throughout, stylishly super modern remodeled bathrooms, and fresh finishes in every bedroom. Stepping outside, you'll find a completely remodeled pool that's perfect for summer relaxation or weekend entertaining, all set on a huge lot with endless possibilities for outdoor living. No details were left out on this renovation. All this on cul-de-sac with a 2 car garage with driveway for more parking space. Indoor laundry space located as you walk in from garage. Garage equipped with outlet for EV charger if needed also equipped with soft water hook up. This property offers modern amenities, ample space, and the warmth and charm of a well-loved neighborhood, providing the best of both worlds.

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23713 N 160th Court Surprise, AZ 85387

Open House

$734,900

3 Beds

3 Baths

2,159 SqFt

Status Active

MLS # 6775180

Property Type Single Family Residence

Price Type --

Welcome to this stunning custom-built home on a select lot in a cul-de-sac! You're greeted by a 2+-car garage, double gate to backyard, and a welcoming porch. Discover an inviting great room with high ceilings, attractive wood-look flooring, and sliding doors leading to the backyard for seamless indoor-outdoor living. The upgraded gourmet kitchen comes with quartz counters, abundant cabinetry with crown moulding, a tile backsplash, stainless steel appliances, a walk-in pantry, and an island with a breakfast bar. Open bonus room offers space for a rec room, office, or den. The main bedroom includes plush carpeting, an ensuite with double sinks, and a walk-in closet. Venture out onto the backyard, boasting a covered patio, stylish pavers, a charming gazebo, & refreshing pool. This home is an EPA Indoor airPlUS Qualified Home. It is designed and built for improved indoor air quality and energy efficiency. A list of the upgrades from the basic Raymond standard plan is available. There are extensive higher end packages including, but not limited to the gourmet kitchen, master bathroom shower, windows, and driveway. The area for a 3rd golf cart/car storage in garage has been converted to additional storage with built-in cabinets.

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8308 E Holly Street Scottsdale, AZ 85257

Open House

$734,900

4 Beds

2 Baths

1,648 SqFt

Status Active

MLS # 6730275

Property Type Single Family Residence

Price Type --

All-new remodel with designer touches throughout! This home blends modern upgrades with highly sought after mid-century architectural charm. Built in the 1960s, it's complete with original breeze block entry, clean lines, and large windows that flood the space with natural light. New kitchen with quartz counters, top-of-the-line LG appliances, large pantry/laundry room with 2nd refrigerator and front-load washer/dryer. Both bathrooms have been completely updated with stylish finishes and modern amenities. Other upgrades include new windows, Flooring, roof, and interior/exterior doors, front and back easy care landscaping, with RV gate. Located in Scottsdale with easy access to the Scottsdale bike path, schools, freeways, and parks, shopping, nightlife, and spring training Owner/Agent

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3041 N 70th Street Scottsdale, AZ 85251

$734,700

1 Bed

1 Bath

744 SqFt

Status Active

MLS # 6418157

Property Type Single Family Residence

Price Type --

DO NOT Disturb tenants. This property is part of a development opportunity and is listed in conjunction with 3 adjacent parcels.

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2535 Dillon Boulevard Chino Valley, AZ 86323

$734,610

3 Beds

2.5 Baths

2,144 SqFt

Status Active

MLS # 6776838

Property Type Single Family Residence

Price Type --

Live in serenity at Heritage Pointe by CastleRock Communities. Nestled in Chino Valley, just outside of Prescott. This charming community offers a haven for families seeking an extraordinary living experience with each home on a 1-acre lot. The Orchard offers an impressive great room that is open to the integrated kitchen with an island and breakfast area, allowing for ideal enjoyment. The 2-Car & RV garage that this property offers is ideal for storing your recreational vehicle while you plan for your next outdoor escapade! Heritage Pointe offers 7 distinct floorplans, modern amenities, open-concept layouts with designer finishes. You won't want to miss out; plan a visit with us today.

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3548 E Mesquite Street Gilbert, AZ 85296

$734,600

3 Beds

2.5 Baths

2,425 SqFt

Status Active

MLS # 6757069

Property Type Single Family Residence

Price Type --

Your dream home awaits in the highly sought-after Morrison Ranch community, one of Arizona's most desirable neighborhoods. This stunning home has 3 spacious bedrooms, 2.5 baths, plus a DEN and LOFT, offering space for relaxation and entertainment. The recently remodeled kitchen boasts modern finishes, including a 9ft quartz island with ample cabinets.The first floor showcases brand new tile flooring. Private oasis welcomes you with a beautiful 9 ft deep pool, surrounded by lush greenery, and a charming fig tree. Near the main community walking path, scenic silos, and a tranquil lake. Morrison Ranch offers an array of amenities, including parks, and pickleball. Within the highly acclaimed Gilbert school district and minutes away from shopping and valley freeways.

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9231 W Bent Tree Drive Peoria, AZ 85383

$734,500

4 Beds

3.5 Baths

2,990 SqFt

Status Active

MLS # 6742238

Property Type Single Family Residence

Price Type --

Looking for a large lot to enjoy, entertain & park your toys, this home has it all! One of the largest lots in Cibola Vista, over $65k invested in landscaping & hardscaping including double RV gate w/slab for your boat/pop up/extra parking/toys. Enjoy cooking under pergola in outdoor kitchen, relax beneath curved custom covered paver patio, commercial grade misting system, fire pit & water feature. Ample space to add a pool. Paid Off/Owned Solar system keeps electric bills low! Inside, owner's suite is downstairs & features 2 walk-in closets, separate tub/shower, granite vanity w dual sinks, all with upgraded tile surrounds. Spacious kitchen has granite counters, decorative backsplash, gas range w contemporary vent hood, lots of cabinets & double pantry. Kitchen open to family rm. with beautifully designed media wall perfect for large screen TV, with speakers added to family rm, dining & outdoor patio for enhanced audio enjoyment. 4 bdrm/3.5 ba home includes downstairs flex rm & upstairs loft/game rm with separate reading/homework space. Upstairs bedrooms have mountain views. Formal dining rm, spacious laundry, 3 car side entry garage & extra long driveway. Easy access to TSMC, premier shopping/restaurants/schools/medical facilities/ hiking trails, Paloma Park, Loop 303 & Lake Pleasant!

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613 E Harmony Way Queen Creek, AZ 85140

$734,162

2 Beds

2.5 Baths

2,124 SqFt

Status Active Under Contract

MLS # 6720370

Property Type Single Family Residence

Price Type --

This home WON Best On Tour on the Queen Creek Home Tour! Welcome to your new home, complete with a custom SECRET DOOR and a laundry ''cubby'' from the primary closet! This Captivate model has undergone over 100k in upgrades since the current owners purchased, including: custom electric fireplace, full landscaping including front and back turf, brick pavers and a pergola, garage epoxy and cabinets, updated kitchen to include quartz counters/backsplash, and OWNED SOLAR! When you decide to venture out, you won't have to journey far to find resort-style living with the 60,000 sq foot clubhouse and 18 hole championship golf course, and other amenities that will have you feeling like you're always on vacation! Don't miss out on this beauty!

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1490 W Laurel Avenue Gilbert, AZ 85233

$734,000

4 Beds

3 Baths

3,013 SqFt

Status Active

MLS # 6697678

Property Type Single Family Residence

Price Type --

Welcome to this charming spacious 4-bedroom 3 bathroom home in a quiet gated lake community in Gilbert. It boasts spacious interiors flooded with natural light. Enjoy the modern comforts of an updated kitchen, elegant living areas and serene backyard. Community skiing lake and putt & putt golf course. Nestled in a prime location, close to amenities and walking distance to elementary school.

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6114 W Hedgehog Place Phoenix, AZ 85083

$734,000

5 Beds

3 Baths

2,598 SqFt

Status Active

MLS # 6761229

Property Type Single Family Residence

Price Type --

Welcome to this spacious 5-bedroom, 3-bathroom home, boasting a stunning backyard with a park view, low-maintenance astroturf, and a large heated pool. Perfect for both relaxation and entertaining! One bedroom serves as a convenient mini-suite, ideal for guests or extended family. The home features wood shutters in the family and dining rooms, with faux wood blinds on most other windows. The kitchen offers an island with engineered stone countertops, double ovens, and plenty of space to create your culinary masterpieces. A newer AC unit (installed two years ago) ensures your comfort. This home offers the perfect blend of modern style, comfort, and outdoor beauty!

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2949 E Lawndale Court Gilbert, AZ 85298

$733,990

5 Beds

3.5 Baths

2,938 SqFt

Status Active

MLS # 6780539

Property Type Single Family Residence

Price Type --

This home combines functionality and comfort with an open floor plan, featuring 9-ft. first-floor ceilings and a large great room that leads to a south-facing, extended covered patio. Vinyl plank flooring spans the first-level common areas, while plush carpeting adds warmth and comfort upstairs. The gourmet kitchen boasts sleek quartz countertops, a walk-in pantry, and stainless-steel appliances, including a built-in wall oven and gas cooktop. A versatile den offers flexibility, easily converting into a home office, game room, or formal dining area. This level also includes a bedroom and full bath, ideal for guests. Please note: The images shown are of a comparable home with the same floorplan, though finishes and details may differ.

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