#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

6020 N 81st Place Scottsdale, AZ 85250

$724,900

3 Beds

2 Baths

1,831 SqFt

Status Active

MLS # 6754205

Property Type Single Family Residence

Price Type --

WOW..LOCATION, NO HOA, 1 LEVEL, DETATCHED w/PRIVATE POOL & YARD, walking & biking distance to Old Town, Chaparral Park/Dog Park and so much more! 5K Seller Concessions for buyer's rate BD & Escrow fees. This RARE GEM incl; 3 bedrms. 2 baths, Lrg. Great Rm. w/Fireplace & HUGE Dining area. Kitchen incl; Rich wood tone cabinetry, granite countertops, stainless steel appliances. Mstr. Bedrm. w/walk-in closet, separate exit to pool/backyard and ensuite with Double Sink Vanity, Tub/Shower. 1 of the 2 additional bedrooms incl; access to backyard & pool area perfect for guests. Updates incl; New Interior/Exterior Paint including garage w/Epoxy Flooring, Carpet just recently replaced in Mstr. Bedrm. & Great Rm. Ironworks Security Doors at Entrance, AC unit within the last 5 yrs. and more!

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3731 E Fruitvale Avenue Gilbert, AZ 85297

$724,900

4 Beds

2.5 Baths

3,070 SqFt

Status Active

MLS # 6760592

Property Type Single Family Residence

Price Type --

Welcome to this stunning 4 bed, 2.5 bath two-story home in the highly sought-after Coronado Ranch community. This 3,070 sq ft property offers a spacious layout featuring a kitchen with granite countertops, a 3-car garage, and a covered patio perfect for outdoor enjoyment. The backyard boasts a pool, spa, and built-in BBQ with beautiful views of the adjacent greenbelt and walking paths. Enjoy nearby community parks & splash pad, A+ rated schools, and convenient access to shopping & dining. Gilbert Regional Park is nearby featuring concerts, play areas, pickleball, and more! Come see it today!

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9780 W Vista Bonito Drive Casa Grande, AZ 85194

$724,900

5 Beds

3.5 Baths

2,991 SqFt

Status Active Under Contract

MLS # 6608564

Property Type Single Family Residence

Price Type --

This beautiful custom home sits on over 2 acres nestled in the highly desired neighborhood of Las Montanas. Key highlights include: high-end tile throughout, 5 bedrooms, 3.5 bathrooms, large granite kitchen island, pendant lighting and knotty alder doors. The possibilities are endless on this huge lot with mountain views from every corner.

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8001 E Monte Vista Road Scottsdale, AZ 85257

Open House

New

$724,900

3 Beds

2 Baths

1,797 SqFt

Status Active

MLS # 6782533

Property Type Single Family Residence

Price Type --

Remodeled single-level 3 bed, 2 bath home located in South Scottsdale! This home offers an open-concept kitchen w/ plenty of storage/counter space, breakfast & coffee bar & brushed black stainless-steel appliances. The elegant French doors lead you to an inviting Arizona room w/ a gorgeous wood ceiling, perfect for relaxing, enjoying a coffee, or hosting gatherings. Primary Bedroom has a spacious closet, & upscale ensuite designer finishes. Private backyard offers a sparkling pool to cool off during the hot summer days, repaved walkways w/ a cozy firepit, & multiple seating areas. Other upgrades include porcelain tile throughout, newly painted interior & exterior, Replaced 3 gates w/ 8ft solid metal security gates & updated laundry. Don't miss the opportunity to see this gem!

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4722 W Silva Drive New River, AZ 85087

Open House

$724,900

3 Beds

2 Baths

2,128 SqFt

Status Active

MLS # 6753676

Property Type Single Family Residence

Price Type --

RV AND BOATS ALLOWED ON PROPERTY! 30 MINUTES TO LAKE PLEASANT WITH BOAT IN THE WATER. This updated 3 bedroom 2 bath home with a 3 car garage and RV parking (80 ft concrete)! Located 20 minutes from Lake Pleasant! Kitchen features grey cabinets, granite counters, farmhouse sink, stainless steel appliances, subway tile backsplash, pantry and breakfast bar. Dinning area provides extra storage with built in serving cabinets and access to the back patio. Main bedroom has private entry to backyard. MUST SEE backyard in which you will want to entertain guests all year with ramada, heated pool (plus solar), spa, built in BBQ, sports court, mist sprinklers and putting green. Newer carpet & paint, epoxy garage floors, 220 amps outdoor RV charger, 220 amps electric car charger installed in garage.

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19003 W Lawrence Road Waddell, AZ 85355

$724,745

4 Beds

3.5 Baths

2,624 SqFt

Status Active

MLS # 6705904

Property Type Single Family Residence

Price Type --

Modern Farmhouse exterior to the spacious Entry leading into the expansive Family Room with 12' Ceilings this home definitely has the all the right space in all the right places. Enjoy indoor/outdoor entertaining with the 12' multi sliding glass door from the Family room to the large covered patio. This 4 bedroom, 3.5 bath home includes an oversized Study with a closet for additional storage that would be perfect when working from home. The Owner's Suite has a luxurious Walk In Shower. The Utility Room and Family Foyer offer extra storage and organization of your belongings with the included backpack rack. This Gourmet Kitchen includes a walk in pantry, gas cooktop, upgraded cabinets and countertops with a custom backsplash. In addition, upgraded flooring, 2X6 construction

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18957 W Lawrence Road Waddell, AZ 85355

$724,550

4 Beds

3 Baths

2,837 SqFt

Status Active

MLS # 6704409

Property Type Single Family Residence

Price Type --

2829 sq ft home located on a highly desirable corner homesite has all the right space in all the right places. As you walk through the spacious entry you will immediately notice the impressive feel of the 11' ceilings in the Family Room and the 16' Multi Sliding Glass Door leading out to the Patio, perfectly suited for large or small gatherings. A Gourmet Kitchen with gas cooktop, upgraded cabinets, countertops and a custom backsplash along with a Walk In Pantry make this kitchen a joy to spend time in whether you are relaxing with family or entertaining guests. An Owner's Retreat with a large Walk In Shower, upgraded flooring throughout and the included 4 car garage are just a few of the many upgrades that make this home a must see! 2X6 CONSTRUCTION; NEW HOME WARRANTY

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6829 N 190th Drive Waddell, AZ 85355

New

$724,445

4 Beds

3.5 Baths

2,636 SqFt

Status Active

MLS # 6783006

Property Type Single Family Residence

Price Type --

Tasteful colors and gorgeous dry stack stone definitely make this home stand out from the crowd. Upon entering, you will definitely appreciate the 12' Ceiling at the Family Room along with the 12' Multi Slider, filling the room with light. A great space to relax with family. Enjoy entertaining in the beautifully appointed Gourmet Kitchen with Gas Cooktop, Chimney Hood and large Island. A highlight of the Owner's Bath would be its luxurious Super Shower. Added pass-through door from the Owner's Closet to the Laundry Room. Too many additional upgrades to list; 2x6 construction; extensive new home warranty.

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19913 W Marshall Avenue Litchfield Park, AZ 85340

$724,374

3 Beds

2.5 Baths

2,793 SqFt

Status Active

MLS # 6747322

Property Type Single Family Residence

Price Type --

his open-concept, 2,773 square foot home has the perfect amount of space to in all the right places and is located on a N/S 9,100 square foot homesite with no neighbors directly behind and an 8' double gate. 3 bedrooms + study + retreat. 4 car tandem garage provides much desired storage space. The extended covered patio gives you extra room for outdoor entertainment and backyard is large enough for a pool. Gourmet kitchen with gas cooktop, upgraded cabinets and countertops with custom backsplash, upgraded flooring; 2X6 CONSTRUCTION; NEW HOME WARRANTY.

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2855 Joseph Lane Chino Valley, AZ 86323

$724,000

3 Beds

2 Baths

2,067 SqFt

Status Active

MLS # 6715561

Property Type Single Family Residence

Price Type --

REDUCED! Beautiful 3-bedroom 2 bath 2075 Sf home with lots of upgrades. Great home for family entertaining, this community is designed to provide ample space and privacy while enjoying the cooler high desert climate. You will love the spacious living area & large windows that showcase breathtaking views of the surrounding natural beauty. Many upgrades include a primary bath with a free-standing tub, Kitchen with upgraded cabinets, gorgeous countertops, gas appliances & flooring. Home includes a tankless hot water heater, sprinkler system plus a big 3 car garage, All on a 1-acre cul-de-sac lot! A must-see home! Click the Docs tab to see the floorplan. Watch the tour and come see!

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49 Dressage Circle Prescott, AZ 86303

$724,000

3 Beds

3 Baths

2,647 SqFt

Status Active

MLS # 6769990

Property Type Single Family Residence

Price Type --

Discover your dream home in The Ranch of Prescott, nestled on a desirable corner lot in a peaceful cul-de-sac. This elegant residence combines modern comfort with picturesque views, just a short drive from Costco and Trader Joe's. Upon entering, you're welcomed with stunning hardwood and tile floors that flow throughout the main living areas. The updated kitchen is a highlight, featuring pull-out drawers for effortless organization and a layout designed for both functionality and style. It seamlessly connects to the living spaces, making it perfect for entertaining and daily living. The family room is a cozy retreat with a stacked stone gas fireplace, providing a warmth and a focal point for gatherings. Large wood cased windows allow natural light to flood the space and bringing the beauty of the outdoors inside. The home offers three generously sized bedrooms and well-appointed bathrooms, ensuring ample space for family and guests. The master suite is particularly inviting, providing a peaceful haven with a large soaking tub that enhance the sense of tranquility. Steo outside onto the expansive deck, designed for effortless entertaining and relaxation. With its views of the Bradshaw and Mingus Mountains, this outdoor space is perfect for hosting summer barbeques or enjoying a quiet morning coffee. Additional practical features include a brand-new HVAC system and roof underlayment installed in 2023, providing reliability and efficiency. The oversized three-car garage included a 15-foot by 17-foot workshop with the ability of using the home's AC, making it ideal for projects year-round. For added flexibility, the owner is willing to carry, offering potential buyers a unique financing opportunity. This exceptional home in The Ranch offers a perfect blend of luxury and comfort. Don't miss out on the chance to make this beautiful residence your own.

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1828 E Palo Verde Drive Phoenix, AZ 85016

$724,000

4 Beds

2 Baths

2,318 SqFt

Status Active

MLS # 6762445

Property Type Single Family Residence

Price Type --

WOW! 4 beds+den/craft room. 1 shared + 1 hall bathroom. Pull out shelves in kitchen & a beautiful view of lush green landscaping from the kitchen window, along with dual pane windows throughout and polished concrete floors on an interior N/S facing lot in the prestigious Biltmore area make this a lovely home. Just minutes from Wrigley Mansion and Biltmore Fashion Park. Close to AZ Canal Trail Too! The big things have been done~ Sewer lines, electrical panel, windows, AC are all newer. Just waiting for your creative touches. Great home with lots of storage and plenty of space for everyone. Gorgeous tree lined street among a host of custom homes. Hall bathroom redone in 2023 along with shower in primary. Tons of storage, centrally located on an irrigated lot. PRICED TO SELL Absolutely adorable storage shed out back. Looks like a mini-chateau. Could probably be turned into a tiny house. CHARMING. Some cosmetic updating needed to property, which is reflected in the price. Excellent opportunity to get into this highly sought after neighborhood and make this house your home.

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