#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

2520 E Flower Street Phoenix, AZ 85016

$719,000

4 Beds

2 Baths

1,770 SqFt

Status Active

MLS # 6743230

Property Type Single Family Residence

Price Type --

Home has been COMPLETELY remodeled and a peaceful backyard for entertaining!! Floors, stainless steel appliances, plumbing, electric. Plus, New main line sewer 2019, New HVAC Duct system & insulation installed by Pearl Certified Contractor 2019, New flat roof (over Master Bdrm) 2021, New maintenance free Xeriscape landscape 2022. Enjoy this beautiful move-in-ready home, nestled in Arizona's oldest neighborhood association, Historic Phoenix Homestead with no fees, restrictions or obligations! Phoenix Homestead puts on several free park events a year including live music, comedy and the most well known evening event in December, The Luminaria, where streets close for an evening of walking with friends and family to enjoy the neighborhood lights, including ''Candy Cane Lane'' aka Pinchot St! This home is also walking distance to award winning restaurants and James Beard chefs at places like Glai Baan, The Larder and the Delta (formerly Brinkley's) and Mixela, as well as within a half mile of great neighborhood cocktail bars and live music venues! Plenty of amenities including shopping at The Biltmore & Scottsdale Fashion Malls. Downtown Scottsdale and Downtown Phoenix entertainment and sporting events! Quick access to all central highways! It's perfect! (See document tab for improvement details)

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514 S Marina Drive Gilbert, AZ 85233

$719,000

3 Beds

3.5 Baths

2,425 SqFt

Status Active

MLS # 6755706

Property Type Single Family Residence

Price Type --

Spectacular gated Waterfront home in The Falls. Stylishly updated beautiful wood flooring, custom paint,. The Primary bedroom downstairs w/ ensuite has Glass sliding doors opening to tranquil water oasis. The Kitchen features new granite counters w/ travertine backsplash. 50'' wide counter for plenty of workspace & extends to breakfast bar, stainless Sub Zero fridge, 5 burner Stainless gas stove, Bosch dishwasher. Eat-in kitchen w/view of lovely courtyard.Primary.Upstairs you will find a Large open loft Plus a 2nd primary w/ ensuite bath & balcony looking over emerald water. A 3rd bedroom & bath complete the upstairs.Shady patio & grass area at waters edge.Perfect for relaxing & watching ducks, geese & turtle in water. Or enjoy the Private Community Pool / Spa Located on The Main Lak

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22121 N De La Guerra Drive Sun City West, AZ 85375

$719,000

3 Beds

2 Baths

2,443 SqFt

Status Active

MLS # 6781411

Property Type Single Family Residence

Price Type --

Experience the pinnacle of luxury living in this stunning 3-bedroom, 2-bathroom home, boasting 2,443 sq ft of beautifully appointed space, nestled within the prestigious gated Corte Bella Country Club. For sale and meticulously crafted for comfort and elegance, this property features a spectacular golf course frontage, offering breathtaking sunset and mountain views. Upon entry, a private courtyard with a calming water feature welcomes you, setting a tone of tranquil sophistication. The interior and exterior have been recently painted, presenting a move-in-ready condition. Known for its flexible floor plan, this home allows for interchangeable living and dining rooms, complemented by a large great room bathed in natural light, with windows offering mesmerizing views of the golf course. Privacy is paramount with a split floor plan, placing the primary suite on one side of the home featuring a private exit to an expansive double covered patio. The suite includes a large soaking tub, walk-in shower, double sinks, and a spacious walk-in closet. On the opposite side, two more bedrooms and a full bathroom ensure comfort and convenience for residents and guests. One of the bedrooms is upgraded into an office with a built-in desk and panoramic golf views from the bay window. The highlight is an upgraded chef's kitchen equipped with granite tops, high-end cabinetry, double ovens, a warming drawer, and an induction stovetop. The double covered patio extends your living space outdoors, creating a perfect ambiance for entertaining or relaxing while enjoying the scenic views. Extended 32' garage. This home is a haven of luxury, designed for those who seek an exceptional living experience.

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14201 N 55th Drive Glendale, AZ 85306

$719,000

5 Beds

2 Baths

2,162 SqFt

Status Active

MLS # 6690449

Property Type Single Family Residence

Price Type --

Fully Upgraded!! Single story home on HUGE LOT!! 5 Bedroom 2 Bath with 2 RV Gates. Home fully remodeled and in the heart of Glendale. NO HOA!!! This home features a split floor plan with new roof, new AC Unit, new cabinets, new paint, new tile flooring throughout the home, new granite countertops, new windows, tile backsplash, all new electrical & plumbing fixtures, new water heater, epoxy flooring in garage and patio., custom bathroom showers with exquisite designs. Backyard features nice Private Diving Pool with large covered patio and cool decking. and mature trees. Potential for AIRBNB and short term rentals. MUST SEE!!

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17025 E La Montana Drive Unit 130 Fountain Hills, AZ 85268

$719,000

2 Beds

2.5 Baths

2,373 SqFt

Status Active

MLS # 6701805

Property Type Townhouse

Price Type --

Highly desirable, gated community of Arroyo Verde at Bella Lago! Enjoy the Fountain Hills lifestyle steps from Fountain Park, hiking, restaurants, and be in the center of community events. Lives like a single level. Enter through a private courtyard into a spacious great room with a dining area that opens to a covered patio with a built-in grill. Open peninsula kitchen w/Bosch gas range, stainless appliances, Quartz counters with breakfast seating. Main level primary has double vanity with tile and glass W/I shower. Lower-level features a multi-use living space, another covered patio, and an elegant full bath. Tons of high-end upgrades and updates! The community offers a pool, spa, and clubhouse with a fitness area and gathering space!!

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1800 Heavenly Court Prescott, AZ 86305

$719,000

4 Beds

3 Baths

2,763 SqFt

Status Active

MLS # 6717935

Property Type Single Family Residence

Price Type --

Welcome to the picturesque Kingswood Estates. This home is located in the pines and just minutes from the wonderful Courthouse Square in downtown Prescott, AZ. Views of gorgeous trees out of every window and enjoy seeing Granite Mountain from your amazing deck or covered patio. The 4 bed, 3 bath, 2-story, 2763sf home offers living on main level with 3 bedrooms including 2 Primary Ensuites, both with large walk-in closets, and an additional bathroom for 3 bedrooms, 3 bathrooms total on the main floor. Bedroom 4 is on the lower level which also has an additional living space and tons of storage in the utility room. This is perfect for multi-generational living or with a few tweaks, possibly an income suite, there are endless possibilities. Plenty of parking, Private back patio to enjoy your morning coffee, evening glass of wine, or a fabulous weekend BBQ. This neighborhood is perfect for walking and enjoying the beautiful outdoors. Upgrades include ceramic plank tile flooring throughout main level, Exterior and Interior Painting, Refaced Kitchen Cabinets, Kitchen Backsplash and Kitchen Appliances. Welcome Home!

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14269 N 22nd Street Phoenix, AZ 85022

$719,000

4 Beds

3 Baths

2,222 SqFt

Status Active

MLS # 6728752

Property Type Single Family Residence

Price Type --

Exceptional Value in a Stunning Community! This home offers an ideal blend of charm and comfort, perfect for both first-time buyers and those looking to upgrade for a growing family. Enjoy breathtaking mountain views and a secluded backyard featuring a private pool and spa. The interior boasts striking tongue-and-groove wood vaulted ceilings, a master bedroom with a cozy sitting area, and three spacious closets. The remodeled master bath and full bath upstairs include a separate shower and tub for ultimate relaxation. Plus the roof is from 2019 with a 10 year transferable warranty. Entertain guests with ease thanks to the inviting fireplace and wet bar.

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17747 W Colter Street Litchfield Park, AZ 85340

$718,242

4 Beds

3.5 Baths

3,704 SqFt

Status Active

MLS # 6736158

Property Type Single Family Residence

Price Type --

MLS#6736158 Ready Now! The Hampton is a 2-story floor plan with 3,704 sq. ft., featuring 4 bedrooms, 3.5 bathrooms, a 3-car split garage, game room, primary suite retreat, study, dining area, and a courtyard. Welcome to your dream home. From relaxing in your private courtyard to the grand staircase in the foyer, this floor plan is designed for luxury. The spacious owner's suite has its own foyer leading to a primary bath with split vanities and a large walk-in closet. The primary suite retreat enhances your private haven. All bedrooms are upstairs, ensuring privacy from the active first level. This floor plan could be perfect for your next move. Structural options included: gourmet kitchen, garage service door, gas line to backyard. Design upgrades include: white cabinets, back mist granite tile.

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2402 N 15th Street Phoenix, AZ 85006

$718,000

3 Beds

2 Baths

2,031 SqFt

Status Active

MLS # 6691706

Property Type Single Family Residence

Price Type --

Incredible opportunity to own this STUNNING remodeled gem in the coveted Coronado Historic District! This home was meticulously reimagined, almost brand new leaving only three walls standing from the original structure. With a permitted 500 sq. ft. addition, this 3 bd/2 bath home offers all new A/C, Roof, vaulted ceilings, Windows, new stucco, new block wall, spray foam insulation & more. Kitchen features beautiful new cabinets & quartz, island, walk in pantry, all new stainless steel appliances including refrigerator. Owners suite w/oversized walk in closet, makeup vanity area, quartz tops, lighting & more. Guest bath w/tile shower surrounds, lighting, etc. LVT flooring. New landscaping. Conveniently located near downtown, Phoenix Country Club, Phoenix Children's & St. Josephs Hospital.

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2249 W Daniel Road San Tan Valley, AZ 85144

$718,000

4 Beds

3 Baths

1,977 SqFt

Status Active

MLS # 6732343

Property Type Manufactured Home

Price Type --

Seller Installed new HVAC unit! This is a huge upgrade you will not have to worry about. This home and property are a great opportunity to own some great land in the San Tan Mountains. This property is 4.695 acres of GR zoning! It is situated in the quiet part of the San Tan Mountains.The property has a four bedroom three bath house. It has a split floor plan. Two of the bedrooms have a jack and jill bathroom. Both sides of the home have awnings. The front also provides a shaded carport. The Property has a detached workshop with a one car garage. Park and work on all your toys. There are two seperate storage sheds. This property also has horse corrals. You are able to make this property your own personal ranch. The property is situated close to shopping and dining areas of Queen Creek. Come see your next home and enjoy living with a lot of land and a lot of privacy. Professional photos coming soon.

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4816 E Amelia Avenue Phoenix, AZ 85018

$718,000

3 Beds

1 Bath

1,647 SqFt

Status Active

MLS # 6762940

Property Type Single Family Residence

Price Type --

Discover an incredible opportunity to craft your dream home on this prime lot in the heart of Arcadia ~ Perfectly situated close to restaurants, shops, the canal path, and more ~ this location offers unparalleled convenience and charm ~ Buyers have the option to either renovate the existing home or use the land as a blank canvas to create something entirely new! This property has the potential for an auxiliary dwelling unit (ADU).

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31854 N 132nd Avenue Peoria, AZ 85383

$717,900

5 Beds

3.5 Baths

2,933 SqFt

Status Active

MLS # 6766516

Property Type Single Family Residence

Price Type --

Welcome to this stunning home in the highly sought-after Vistancia community in Peoria! Surrounded by breathtaking desert landscapes, top-rated schools, and endless recreational options, Vistancia offers a lifestyle like no other. Located just down the road from boating, fishing, scuba diving, and camping at Lake Pleasant, this beautiful home with all-new interior carpeting sits on an oversized lot and features nearly 3,000 sqft of luxurious living space, with 5 spacious bedrooms, a den, and 3.5 bathrooms. The backyard is perfect for entertaining, with a pool, artificial turf, and plenty of room to relax. Enjoy access to not one, but two community centers, over 6 miles of lighted walking and hiking trails, and a 3-car garage with ample storage.

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