#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

3197 S Sonoma Street Flagstaff, AZ 86005

$730,000

3 Beds

3.5 Baths

2,160 SqFt

Status Active

MLS # 6765956

Property Type Townhouse

Price Type --

This townhome in Flagstaff is located in Pinnacle Pines. This townhome borders the greenbelt and offers a private fenced in backyard with turf and covered patio. As you enter the home you are greeted with a vaulted ceiling and natural light in great room with gas fireplace. The primary suite is located on the main level with shower, granite counters, dual vanity, and separate walk-in closet. Ton of kitchen cabinetry, gas stove, counter bar height seating plus eat in kitchen. Upstairs there are two bedrooms, and one is an ensuite. The laundry room is located on the upper level. This townhome also has AC. and is energy efficient with 2x6 walls. This home has been a short term rental. STR are allowed.

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7056 N 85th Ave Avenue Glendale, AZ 85305

$730,000

6 Beds

4 Baths

3,848 SqFt

Status Active

MLS # 6771375

Property Type Single Family Residence

Price Type --

Welcome to this stunning home located in Glendale. This beautiful property is move-in ready and truly like a model home. Walk in to your grand entry with custom wrought-iron door. Featuring 6 bedrooms and 4 full bathrooms, and an upstairs loft. Home has tall 8foot doors and High ceilings. This two story floor plan is nothing like you've seen before. The bottom floor features a room with its own loft that can be used a guest suite. Two bedrooms upstairs share a jack and jill restroom. The chef's kitchen is a dream, complete with granite countertops, a decorative tile backsplash, grand island, and upgraded fixtures and faucets. Additionally, there is a butler's pantry w/ large walk-in pantry. The formal dining room is perfect for entertaining. Hurry and tour it before its gone!

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15298 W Linden Street Goodyear, AZ 85338

$730,000

5 Beds

4 Baths

2,963 SqFt

Status Active

MLS # 6779941

Property Type Single Family Residence

Price Type --

Experience the allure of this beautiful 5 bed, 4 bath two-story home in Estrella Commons! Great curb appeal with veneer accent details, well-manicured landscape, travertine-front porch, and a 2-car garage w/paver driveway. Fabulous interior ''shouts'' attention to detail throughout! Neutral paint, chic light fixtures, archways, zebra blinds, and wood-look tile floors in all the right places are some features that can't be left unsaid. You'll surely love the formal dining room & the inviting living area w/fireplace! The open-concept kitchen boasts sleek SS appliances, granite counters, a subway tile backsplash, a walk-in pantry, wood cabinets w/crown molding, and a huge island w/two sinks & breakfast bar. The cozy nook is an added perk! One bedroom & one bathroom complete the downstairs. Upstairs, you'll find the other well-appointed bedrooms! Also including the loft that provides versatility. Enter the main bedroom to find a spotless ensuite with dual sinks, a separate tub/shower, & a walk-in closet. One secondary bedroom comes with plush carpet & plantation shutters. Laundry room with a sink & cabinetry. The backyard is your private retreat! A covered patio, well-laid travertine, Pergola, and artificial turf complete the picture. What's not to like? Pack your bags and move in!

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4002 E Clarendon Avenue Phoenix, AZ 85018

$730,000

3 Beds

2 Baths

1,468 SqFt

Status Active

MLS # 6780574

Property Type Single Family Residence

Price Type --

Discover the charm of this fantastic 3-bed, 2-bath home nestled on a prime corner lot! Staring with a 1-car garage, RV gate, cozy front porch, and a lovely front yard w/artificial turf & ample open parking spaces. Be greeted by a formal living room with plantation shutters! Natural light filled the inviting interior, complemented by a designer palette and tile & wood-look floors t/out. The eat-in kitchen boasts SS appliances, tile counters & backsplash, and wood cabinetry w/crown molding. You'll love the bonus room, ideal for an office, reading nook, or storage! Large main bedroom has recessed lighting, two closets, and a private bathroom w/tiled shower. Outback, you have a grass area, fruit trees, and a covered patio w/extended pavers. Great Phoenix location! Don't miss this opportunity!

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2323 N Central Avenue Unit 301 Phoenix, AZ 85004

$730,000

3 Beds

2 Baths

1,812 SqFt

Status Active

MLS # 6681477

Property Type Apartment

Price Type --

Owners offering seller credit for rate buy down, HOA fees or whatever Buyer(s) wish, so what are you waiting for? This unit is move in ready and priced to SELL! One of only a handful of 3 bedroom units and features floor-to-ceiling views with wrap-around balconies, this stunning home offers sweeping views of the valley from every room. This home features an updated & expanded kitchen with a large island, tons of cabinetry & wall ovens that would make Julia Child swoon. Primary bedroom features sweeping views of Camelback Mountain, walk-in closet & beautifully appointed bath. The 2 ancillary bedrooms are equally impressive & EACH feature tons of storage & direct balcony access! Wood-look tile throughout, this is the ultimate in easy living. Amenities galore, Regency is like living in a resort with heated pool, new gym, ROC Room and staff including 24/7 door personnel, porters, on-site manager and a full maintenance staff, too. Lock-and-leave lifestyle like no other, your taxes are also half off*. And the HOA covers AC, heat, water, sewer, trash, full staff, blanket insurance and more.

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1283 E Saragosa Street Chandler, AZ 85225

$730,000

5 Beds

3 Baths

3,662 SqFt

Status Active

MLS # 6714405

Property Type Single Family Residence

Price Type --

Stunning upgraded Home with 5 bedroom plus large flex room. Beautiful entry, large formal living and dining with tile, stone and plantation shutters. Kitchen has Cherry cabinets , stone flooring and corian counters. Large family room w/ gas fireplace. Guest bedrooms, full bath downstairs. Amazing master suite on second floor. Private pool in spacious backyard. Beautiful Park Across the street.

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5137 N 183rd Lane Litchfield Park, AZ 85340

$730,000

4 Beds

3 Baths

3,430 SqFt

Status Active

MLS # 6738557

Property Type Single Family Residence

Price Type --

Nestled in the beautiful Azure Canyon subdivision, this contemporary home was completed in October 2022 and boasts a thoughtfully designed open floor plan that prioritizes space and functionality. The inviting formal dining area is perfect for gatherings, while the kitchen features granite countertops, a gas cooktop, stainless steel appliances, and a spacious two walk-in pantries. With four well-appointed bedrooms, an office, and a flex den, this home offers ample room for family and guests. The primary suite serves as a serene retreat, complete with a luxurious bathroom featuring a free-standing tub, separate shower, and large walk-in closet. It's convenient location allows easy access to the I-10 and SR 303.

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18925 S 211th Way Queen Creek, AZ 85142

$730,000

3 Beds

2.5 Baths

2,654 SqFt

Status Active

MLS # 6753009

Property Type Single Family Residence

Price Type --

The one you've been waiting for! Located in Queen Creek's prestigious Gateway Quarter neighborhood, this stunning residence has been meticulously maintained and shows just like a model home. A rare find on the ONLY oversized lot in the community! Stunning curb appeal with an upgraded Hill Country elevation, stacked stone accents, paver driveway, three-car split garage, and an inviting front porch. Step inside to discover a spacious floor plan adorned with high-end finishes and upgrades throughout. The gourmet kitchen is a chef's delight, featuring quartz countertops, tile backsplash, custom cabinets, stainless gas appliances, and a spacious island perfect for entertaining. The inviting living area offers an elegant design, abundance of natural light, and provides a seamless transition to the expansive backyard. Retreat to the luxurious owner's suite complete with a spa-like bathroom featuring dual vanities, a soaking tub, separate shower with rain showerhead, and a roomy walk-in closet. The additional bedrooms and den are split from the primary suite, offering privacy for family and guests. The outdoor space includes an extended covered patio, pavers, artificial turf, dog run, attached storage room, and plenty of room for a pool, garden, or whatever you desire. Other features include 10' ceilings, 8' doors, wood look tile throughout with carpet in the bedrooms, built-in surround sound, gorgeous lighting & ceiling fans, and a huge laundry room with a sink and built-in cabinets. This gorgeous home offers close proximity to top-rated schools, shopping, dining, and entertainment options. Don't miss out, see it today!

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12961 N 151st Drive Surprise, AZ 85379

$730,000

4 Beds

3 Baths

3,541 SqFt

Status Active

MLS # 6756150

Property Type Single Family Residence

Price Type --

Discover the perfect blend of comfort and privacy in this stunning 4-bedroom, 3-bath home. Nestled on a huge corner lot with a lush greenbelt as your backdrop, this property offers unparalleled seclusion and beauty. Enjoy endless outdoor fun with your very own sport court and serene water feature, surrounded by vibrant landscaping. The private pool invites you to unwind in your own personal oasis. Whether entertaining guests or seeking quiet relaxation, this home provides everything you need for an exceptional lifestyle. Don't miss out on this unique opportunity to own a slice of paradise!

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1023 E Canyon Street Apache Junction, AZ 85119

$730,000

3 Beds

2 Baths

2,094 SqFt

Status Active

MLS # 6766777

Property Type Single Family Residence

Price Type --

Looking for a new home? You've found it! This beautiful 3 bed, 2 bath residence sits on an oversized 1.25 acre lot w/fantastic mountain views & features a manicured desert landscape, 2 car garage, and an RV gate. Discover a spacious living area w/high ceilings, elegant wood-look flooring, and custom palette throughout. The eat-in kitchen is comprised of wood cabinetry w/crown moulding, a pantry, granite counters, built-in appliances, pendant lighting, and a peninsula w/a breakfast bar. End your busy day in the primary bedroom, boasting a walk-in closet and a private ensuite w/dual sinks for added convenience. Also including an expansive backyard w/a covered patio, this home is a true gem! Home is on its own well not shared. AC replaced in 2020, also water heater and soft water system.

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1880 W Roderick Lane Wickenburg, AZ 85390

$729,999

2 Beds

2.5 Baths

1,852 SqFt

Status Active

MLS # 6762542

Property Type Single Family Residence

Price Type --

Welcome Home to this amazing property located in the heart of Wickenburg! This 2.4 acre property features all the amenities of city living but still situated far enough away to enjoy the mountain views, dark night skies and a cooler weather along with being located within Wickenburg Country Club with NO HOA! Plenty of room for your horses and close to the arenas for roping, your side by sides for all of the trails and don't forget your clubs, it's just a short ride to golf as well! Bright open kitchen with plenty of storage, great open floor plan including 3 beds 2 baths AND house has solar to help with those high electric bills during the hot summer months. Attached one car garage AND pull through RV garage.

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4232 W Porter Lane Queen Creek, AZ 85144

$729,999

4 Beds

2.5 Baths

2,697 SqFt

Status Active Under Contract

MLS # 6745613

Property Type Single Family Residence

Price Type --

NO HOA! Brand new high end construction. Built to be the most energy efficient homes on the market. Spray foam insulation with solid 2x6 construction keep your energy bills lower. Amazing 4 bedroom 2.5 bathroom with open split floorplan. Upgraded kitchen cabinets and appliances with stunning large waterfall island. Huge pantry with outlets for appliances and a built in beverage center included. Tall ceilings and upgrades throughout this home make it one of our most popular floorplans. Huge 3 panel sliding window opens up to your massive backyard with so much potential on this 1.25 acre lot. This house is fully move in ready with custom front yard landscaping included and wont last long!

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