#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.

#1 Answer to the Housing Shortage: New Construction | Simplifying The Market

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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49011 N 7th Avenue New River, AZ 85087

$720,000
6 Beds
3 Baths
2,758 SqFt
Status Active
MLS # 6735916
Property Type Single Family Residence
Price Type --
Looking for income potential? 2 distinct residences, both offering private patios and unlimited space. Or...keep your family/parents/kids close! If you've grown tired of looking at all the same territorial style homes, this is your beautiful chunk of turquoise in that boring desert of houses! Homesteaders, are you looking for that vintage, farm house style that is also multigenerational? Your search is over! Perfectly situated on a little over an acre of land, everything about this home was made with great thought to detail for optimal space usage while capturing phenomenal mountain views. Main home, 1727 sq ft, is three bedrooms, 1.75 bathrooms, wood flooring in living room, dining, office & hall, large laundry/mud room/pantry plus private entrance gym or bonus room. Permitted Second residence, 1032 sq ft, is three bedrooms, 3/4 bath with custom walk-in shower. Chevron Butcher Block counter, stained concrete floors finish the farm house theme. Both homes are equipped with an RO system. Parking will be a breeze with all the designated parking areas for your family/friend gatherings. All of the extras that make both of these homes both classic and cowboy chic! From the covered patios to the free standing deck and outdoor BBQ & bar area,every detail was designed to embrace your gatherings. Privacy fenced storage areas, 3 sheds, works shop and a huge 34X24 garage completes this rare find. Lush desert landscaping for easy maintenance, No HOA's so bring those toys and horses. Get out the city and embrace peace and endless star gazing again, Welcome Home!

21147 W Hillcrest Boulevard Buckeye, AZ 85396

$720,000
3 Beds
3 Baths
2,519 SqFt
Status Active
MLS # 6747757
Property Type Single Family Residence
Price Type --
Welcome to your dream home in Verrado! This exquisite single-level residence, featuring custom finishes throughout, offers both elegance & functionality. With 3 spacious bedrooms, a versatile den, & 3 luxurious bathrooms, this home is designed for comfort & style. The inviting gourmet kitchen boasts top-of-the-line appliances, granite counters, a gas stove & giant walk-in pantry. The open living areas are enhanced by 12-foot ceilings & stylish plantation shutters, adding a touch of sophistication & maximizing natural light. The split master bedroom suite provides ultimate privacy, with a spa-like master bath showcasing his-&-her sinks, a large hidden step-in shower, & a generous walk-in closet. Step outside to discover a no-maintenance backyard designed for relaxation & enjoyment... Welcome to your dream home in Verrado! This exquisite single-level residence, featuring custom finishes throughout, offers both elegance & functionality. With 3 spacious bedrooms, a versatile den, & 3 luxurious bathrooms, this home is designed for comfort & style. The inviting gourmet kitchen boasts top-of-the-line appliances, granite counters, a gas stove & giant walk-in pantry. The open living areas are enhanced by 12-foot ceilings & stylish plantation shutters, adding a touch of sophistication & maximizing natural light. The split master bedroom suite provides ultimate privacy, with a spa-like master bathroom showcasing his-&-her sinks, a huge tiled snail shower, & a generous walk-in closet. Step outside to discover a no-maintenance backyard designed for relaxation & enjoyment. Featuring lush turf, a raised deck , & hot tub readiness with pre-installed electrical, this space is perfect for both entertaining & unwinding. The backyard is also plumbed for gas that feeds the resort style fire feature and BBQ, making outdoor cooking a breeze. Enjoy breathtaking views & an unparalleled location with a private park right across the street & sought-after hiking trails, Victory stairs, and Victory Golf course just a short walk away. The home is in the Highlands area that is at the base of the White Tank Mountains. Verrado has 3 pools, newly remodel Gym and several community activities like the weekly farmers market for residents. Additionally, this property offers a unique financial benefit: an assumable VA loan, providing an excellent opportunity for those qualified buyers. Come see this home today and make it yours!

1431 S Wayne Drive Chandler, AZ 85286

$720,000
4 Beds
3 Baths
2,669 SqFt
Status Active
MLS # 6753818
Property Type Single Family Residence
Price Type --
The search is finally over! Take a look at this gorgeous 4 bed, 3 bath residence showcasing spacious 3-car garage in Arizona Estates! Inside, you will find a bright living/dining area featuring bountiful natural light, soothing palette, wood-look floors, & recessed lighting. The stunning kitchen boasts a plethora of white shaker cabinets, stylish light fixtures, granite counters/backsplash, black SS appliances, a walk-in pantry, & a peninsula with a breakfast bar. Fabulous loft is perfect for an entertainment area! Main bedroom enjoys a lavish ensuite with dual sinks, soaking tub, & a walk-in closet. Spend relaxing afternoons in the wonderful backyard with extended seating area, green grass, & endless blue skies. You must see it! Owned Solar! The search is finally over! Take a look at this gorgeous 4 bed, 3 bath residence showcasing spacious 3-car garage in Arizona Estates! Inside, you will find a bright living/dining area featuring bountiful natural light, soothing palette, wood-look floors, & recessed lighting. The stunning kitchen boasts a plethora of white shaker cabinets, stylish light fixtures, granite counters/backsplash, black SS appliances, a walk-in pantry, & a peninsula with a breakfast bar. Fabulous loft is perfect for an entertainment area! Main bedroom enjoys a lavish ensuite with dual sinks, soaking tub, & a walk-in closet. Spend relaxing afternoons in the wonderful backyard with extended seating area, green grass, & endless blue skies. You must see it! Owned Solar!1

16112 E Carmel Drive Fountain Hills, AZ 85268

$720,000
3 Beds
2 Baths
1,817 SqFt
Status Active
MLS # 6768968
Property Type Single Family Residence
Price Type --
STUNNING VIEWS!!! This fully renovated home offers the perfect blend of luxury and comfort. Inside, you'll find an open-concept living space with brand new features like AC, cabinets, stainless steel appliances, and a cozy fireplace. Step outside to your private pool oasis, complete with a new patio deck. High-quality finishes throughout, including tile and marble floors, quartz countertops, and new doors and windows, create a sophisticated and inviting atmosphere. This energy-efficient home is not only beautiful but also practical. Enjoy the convenience of a new 2-car garage with epoxy floors and a freshly painted interior. With a stunning pergola adding a touch of elegance, this move-in-ready masterpiece is a must-see.

20750 N 87th Street Unit 2011 Scottsdale, AZ 85255

$720,000
3 Beds
2 Baths
1,825 SqFt
Status Active
MLS # 6772543
Property Type Townhouse
Price Type --
Luxury living at Encore at Grayhawk. This property features a spacious open floor plan with a large kitchen with stainless steel appliances and a breakfast bar, all open to a great room with gas fireplace, large windows and an exit to a spacious north facing balcony with mountain views, and featuring a separate dining room ideal for entertaining. The split floor plan offers the primary suite privacy and boast mountain views, balcony access, a large walk-in closet and well appointed full bath. The fantastic location is just steps from golf, dining, shopping, hiking, and events. This gated community offers resort amenities such as pool, spa and fitness room so you can enjoy a relaxing lifestyle.

4590 Fletcher Court Wickenburg, AZ 85390

$720,000
2 Beds
2.5 Baths
2,109 SqFt
Status Active Under Contract
MLS # 6738238
Property Type Single Family Residence
Price Type --
You have to see this Home! This highly desirable Brasada model located in the Premier Golf Community of Wickenburg Ranch is packed with impressive upgrades & designer features. This luxurious home is an entertainers dream. Positioned high on a cul-de-sac lot with breathtaking views. You will enjoy the Mountain View's from every room of this home! Easy care landscape leaves you time to do all the fun activities that WR has to offer. Beautiful gourmet kitchen with a serving pantry is just the beginning. It all starts with a grand entry leading you to the great room with a glass wall of doors that opens to the outdoor living space. The outdoor area features electric shades that will enclose this area completely. Remote controlled window treatments continue throughout home. The additional living space includes a Den, an office space off of the kitchen, huge laundry area with additional storage, a custom built primary closet & stunning spa-like bath. The garage offers built in storage & is climate controlled with a mini split A/C. You will also enjoy the whole house water filtration system, upgraded appliances, incredible granite countertops and designer lighting throughout out this gorgeous home.

4858 E Shady Glen Avenue Scottsdale, AZ 85254

$720,000
3 Beds
2.5 Baths
1,832 SqFt
Status Active Under Contract
MLS # 6764373
Property Type Single Family Residence
Price Type --
This gorgeous Arabella home features 3 bedrooms, 2.5 bathrooms, and a 2-car garage. The stunning great room offers a seamless flow between living & dining areas. The gourmet kitchen boasts high-end stainless steel appliances, quartz countertops, RO system, a stylish tile backsplash, gorgeous wood cabinetry, and a breakfast bar. The main bedroom includes an ensuite bathroom with dual sinks, upgraded marble countertops, glass wall shower, a walk-in closet, and convenient access to the adjacent laundry room. Outdoor features of this home include a well shaded north facing covered patio accompanied by a low maintenance heat resistant turf backyard perfect for your pets.

1797 S Wallrade Lane Gilbert, AZ 85295

$720,000 - 4Br/4Ba -  for Sale in Recker Pointe, Gilbert
Open House
New
$720,000
4 Beds
3.5 Baths
2,518 SqFt
Status Active
MLS # 6783230
Property Type Single Family Residence
Price Type --
Welcome to this beautifully designed 4-bedroom, 3.5-bathroom home, offering 2,518 sq. ft. of modern living space in a highly desirable community. As you step inside, you'll find an open and spacious layout that perfectly blends the kitchen, family room, and formal dining areas, making it ideal for both family living and entertaining. The gourmet kitchen features a 5-burner gas cooktop, built-in microwave and oven, reverse osmosis water system, and stainless steel refrigerator—perfect for culinary enthusiasts. The main level also boasts a guest bedroom with an ensuite bathroom for added convenience, and a versatile formal dining or sitting room. Upstairs, you'll discover a cozy loft, an upstairs laundry room for added ease, and three additional bedrooms, including a luxurious primary suite with a walk-in closet, walk-in shower, and dual vanities. The secondary upstairs bathroom also features dual vanities and upgraded tile finishes. Additional highlights include a garage equipped with an electric vehicle charging station and built-in cabinets for extra storage. The low-maintenance backyard is beautifully landscaped with artificial turf and mature plants, providing a private outdoor space to relax. Located just steps from the community pool and close to the vibrant Verde Cooley Station and Epicenter, this home provides convenient access to popular dining options like Buck and Rider, Belly Kitchen & Bar, and Matt's Big Breakfast. With nearby shopping, entertainment, and easy access to Loop 202, you'll enjoy both a luxurious lifestyle and effortless convenience!

9389 E Corrine Drive Scottsdale, AZ 85260

$720,000 - 3Br/2Ba -  for Sale in Sagewood Lot 1-104 Tr A, Scottsdale
Open House
$720,000
3 Beds
2 Baths
1,780 SqFt
Status Active
MLS # 6746133
Property Type Single Family Residence
Price Type --
Experience unparalleled luxury in this meticulously remodeled 3-bedroom, 2-bathroom home nestled in Scottsdale's most sought-after neighborhood on a massive cul-de-sac lot. Every inch of this residence exudes elegance and modern sophistication. The kitchen is a true showpiece, featuring pristine white shaker cabinetry and sleek quartz countertops that create a perfect setting for culinary creativity and entertaining guests. The spa-like bathrooms are designed with indulgence in mind, offering expansive walk-in showers and exquisite attention to every detail. The allure of this home extends outdoors, where you'll find a spacious front courtyard adorned with lush greenery and mature landscaping—ideal for peaceful mornings or evening relaxation. Step into your private backyard oasis, complete with a serene spa where you can unwind and rejuvenate in utter tranquility. This home seamlessly blends style, comfort, and functionality, making it an ideal choice whether you're searching for your forever home or a wise investment. I'm excited to introduce you to this Scottsdale gem that truly has it all. Don't miss your chance to make it yours!

1533 W Flower Circle Phoenix, AZ 85015

$719,995
3 Beds
3.5 Baths
2,375 SqFt
Status Active
MLS # 6749592
Property Type Single Family Residence
Price Type --
Fall in love with the highly sought after ICONIC ''inner circle'' of the North Encanto Historical district. This beautiful 40's ranch style home has been remodeled from the inside out! This charming property gives you a 3 bed 3.5 bath, two living spaces and a garage. The spacious backyard is perfect for outdoor activities. The property also includes 2 carport spaces. Make this historical house your new home.

7669 W Tether Trail Peoria, AZ 85383

$719,990
3 Beds
2.5 Baths
2,197 SqFt
Status Active
MLS # 6749324
Property Type Single Family Residence
Price Type --
Welcome to Ashton Woods newest community in Peoria -The Sanctuary at Aloravita. This 2,197 Ruby floorplan features a Spanish style elevation and includes 3 bedrooms, 2.5 baths, a den, plus an RV garage. The impressive kitchen island is perfect for family and friends to gather as it opens to the home's great room for easy entertaining. The kitchen includes stainless steel appliances with a gas cooktop, large undermount sink, under cabinet hood, beautiful painted shaker style cabinets with crown molding, quartz countertops, kitchen backsplash, and large pantry. The great room offers a 4 panel center sliding glass door so you can step out into your covered patio to enjoy indoor/outdoor living in your backyard with friends and family. Other features include, 8' interior doors, 6x36 wood plank style floor tile, upgraded carpet/pad, a soft-water loop, and much more! This home also includes an RV garage, perfect for an RV or a car enthusiast! Great location close to dining, freeways, parks, and entertainment!

11611 N 189th Drive Surprise, AZ 85388

$719,900
4 Beds
3 Baths
2,163 SqFt
Status Active
MLS # 6765141
Property Type Single Family Residence
Price Type --
Welcome to 11611 N 189th Drive in Surprise, AZ! This stunning, newer 4-bedroom, 3-bath home offers 2,163 sq. ft. of living space on an impressive 9,114 sq. ft. lot. Designed with the popular Wayfarer split floor plan, this single-level beauty features spacious and versatile living areas, perfect for families and entertaining. Step into the heart of the home and enjoy the modern kitchen equipped with stainless steel appliances, a gas range, and plenty of space for culinary creations. The home's interior shines with brand-new paint and luxurious LVP flooring throughout, providing a fresh and contemporary look. The spacious 3-car tandem garage plus a 50 ft. RV garage is perfect for car enthusiasts, RV owners, or those with plenty of toys to store. Outside, the oversized backyard is an entertainer's dream! Enjoy breathtaking views of the White Tank Mountains while relaxing in your newer pool or on the low-maintenance turf. With so many options for outdoor activities and entertaining, this incredible property is ready to become your personal oasis. Don't miss your chance to own this versatile and stunning home!

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