#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

25555 N Windy Walk Drive Unit 82 Scottsdale, AZ 85255

New

$715,000

2 Beds

3 Baths

1,623 SqFt

Status Active

MLS # 6781396

Property Type Townhouse

Price Type --

Skye Top at Troon-Guard Gated-In North Scottsdale. Pristine freestanding townhome. Upstairs loft is ideal for den/office/sitting room. Access upstairs balcony from primary bedroom. Primary Bathroom-Relax in the tub jacuzzi. Double vanity, walk-in closet, and shower complete the primary bathroom. Ground level outdoor rear patio is perfect for a BBQ to entertain your family/friends. Front/backyard landscaping maintenance is included. The Skye Top Community also offers a pool/spa/clubhouse. Located near upscale restaurants/shopping/golf courses.

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945 E Playa Del Norte Drive Unit 3027 Tempe, AZ 85288

$715,000

3 Beds

3 Baths

1,852 SqFt

Status Active

MLS # 6721204

Property Type Apartment

Price Type --

Discover unparalleled luxury in this ultra-exclusive, high-security condo. Few units offer such generous space, featuring dual split master suites plus a large third bedroom and full third bathroom. Each bedroom has direct access to one of two expansive patios, providing breathtaking views of the courtyard, pool, and Tempe Town Lake. Enjoy cozy evenings by one of the two fireplaces, located in the family room and on the patio. Take advantage of the large fitness facility and secure, gated parking with two parking spots included. Nestled in the heart of Tempe, this prime location offers walking distance to all amenities and direct access to the scenic path around Tempe Town Lake. Easy accessibility to trash chute and elevators. Embrace the epitome of comfort, convenience and elegance in this extraordinary residence.

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42491 W Bravo Drive Maricopa, AZ 85138

$715,000

5 Beds

3 Baths

3,622 SqFt

Status Active

MLS # 6724989

Property Type Single Family Residence

Price Type --

Welcome to your dream home. This exquisite 5-bedroom, 3-bathroom property offers the perfect blend of luxury, comfort, and entertainment. Elegant luxury vinyl plank flooring and plantation shutters add to the home's refined aesthetic. Spacious kitchen with granite countertops is perfect for meal prep or casual dining. A huge primary bedroom featuring two walk-in closets and private balcony with a view that does not disappoint. The property boasts an entertainers delight with a heated/cooled pool, spa, and a 4-hole putting green, making it the perfect place to host gatherings. Enjoy serene views of the 18th fairway right from your backyard. An EV plug-in station ensures your electric vehicle is ready to go. Don't miss the opportunity to own this extraordinary home in Rancho El Dorado

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6761 W Sonnet Drive Glendale, AZ 85308

$715,000

4 Beds

3 Baths

3,053 SqFt

Status Active

MLS # 6739241

Property Type Single Family Residence

Price Type --

Incredible Home Alert! Don't Miss Out! Experience luxury in this breathtaking home! The open kitchen dazzles with quartz countertops, pristine white cabinets, and a spacious island. Relax in the expansive family room by the cozy fireplace. Each bedroom, including the loft, is generously sized. Entertain in the elegant formal living and dining rooms. The master suite is a true retreat with a seating area, walk-in closet, and lavish bath. Enjoy peace of mind with a newer roof (2021) and a resurfaced pool (July 2024) to enjoy the hot days of summer. Includes a 3-car garage, fridge. Prime location near shopping. Furniture available on a separate bill of sale.

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14561 W Hidden Terrace Loop Litchfield Park, AZ 85340

$715,000

4 Beds

4 Baths

3,286 SqFt

Status Active

MLS # 6744745

Property Type Single Family Residence

Price Type --

Just WOW! Gorgeous 4-bed, 4-bath home on the Wigwam Red Golf Course! Displaying a manicured landscape & a sided 2-car garage w/paver driveway. Home exudes elegance with a neutral palette, tons of natural light, chic light fixtures, and tile & plush carpet t/out. You'll love the formal dining room and the bright, open floorplan w/soaring ceilings! The gourmet kitchen boasts SS appliances, granite counters, a plethora of cabinetry, a pantry, an island, and a breakfast bar. Owner's bedroom is downstairs, offering an ensuite with dual sinks, a jetted tub, oversized shower, & two walk-in closets. A circular loft upstairs! Also including two large bedrooms, each equipped with an ensuite & a balcony w/beautiful golf course views. Outback, you have a covered patio for enjoying BBQ. Move-in ready!

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20939 E Mayberry Road Queen Creek, AZ 85142

$715,000

5 Beds

4 Baths

3,158 SqFt

Status Active

MLS # 6758721

Property Type Single Family Residence

Price Type --

Why by new?! This meticulous home has Stunning upgrades & a finished backyard. Kitchen boasts quartz counters, gourmet cafe' appliances, large island, upgraded cabinets(including pull out shelves,hardware & soft close), huge walk in pantry plus butler's pantry. Gorgeous shutters, upgraded light fixtures & fans, ADDED CUSTOM BUILT INS throughout, wood look tile, & surround sound. You will love the shiplap, wall molding accents that really add to the charm! STORAGE+! Great room floorpan. Primary Bdrm & 1 secondary Bdrm on main level. Walk in closets in all bedrooms.En suite secondary Bdrm. 3 car garage w/ tons of custom built in cabinets. Spectacular location!! Within walking distance to all the favorite shopping, eateries & entertainment! Highly Rated Schools! So Many Extras in this home!

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18333 E Sunnydale Drive Queen Creek, AZ 85142

$715,000

3 Beds

2 Baths

1,502 SqFt

Status Active

MLS # 6750351

Property Type Single Family Residence

Price Type --

Charming and updated, this 3-bedroom, 2-bath home sits on a spacious .93-acre lot, offering plenty of room for expansion or customization. Over the past years, the home has seen significant upgrades, ensuring that the new owners can move in without needing to tackle any immediate projects. The property includes a 2-car garage, a fully covered patio, and a large open area perfect for your future plans. The home is also equipped with flood irrigation, a concrete fire pit, a small 4x6 shed, and a 12' gate providing access to the rear yard. Key updates include new windows (2019), exterior paint (2024), master bath renovation (2020), new flooring (2020), an HVAC system (2017), and a water heater (2018). No HOA, Irrigation, and Horse Property.

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4223 W Bart Drive Chandler, AZ 85226

$715,000

4 Beds

2 Baths

2,188 SqFt

Status Active

MLS # 6746934

Property Type Single Family Residence

Price Type --

Freshly painted inside with neutral color throughout including baseboards, ceilings and garage. New Photos posted! Premier location of Park Promenade within walking distance to two schools and Desert Breeze Park. Lovely 4 bedroom home with sparkling pool with water feature and removable pool fence and artificial turf in the backyard. Several updates and upgrades have been made over the years-see list below. Plantation shutters in formal living and dining, sunscreens recently installed on south and west windows, artificial stone counters installed in kitchen and bathrooms and much more. To see in person is to appreciate! Sellers say no school buses drive by their home as bus traffic goes along Desert Breeze Parkway.

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1232 E Strawberry Drive Gilbert, AZ 85298

$715,000

5 Beds

3 Baths

2,610 SqFt

Status Active

MLS # 6761963

Property Type Single Family Residence

Price Type --

Don't miss this FANTASTIC move-in ready Gilbert home on spacious corner lot! 5 Bed 3 bath + Den, directly across from park. New flooring + freshly painted interior including ceilings, doors, cabinets + trim. New 2023 HVAC System (A/C + Furnace). Huge kitchen with oversized island, vaulted ceilings in great room. Large pantry + ample storage. Stainless steel appliances + fabulous french door refrigerator convey. Gorgeous Wainscot paneling in one bedroom, ceiling fans throughout, covered patio + stone pavers. Washer + dryer convey! Cool-off in your fabulous swimming pool and entertain on your extended patio. Premier location close to Chandler/Ocotillo. Close to hospital, shopping, dining and parks. Welcome home!

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7225 E Villa Way Scottsdale, AZ 85257

$715,000

4 Beds

2 Baths

2,097 SqFt

Status Active

MLS # 6762266

Property Type Single Family Residence

Price Type --

Nestled in the lively South Scottsdale area, this exquisite 4-bedroom, 2-bathroom residence showcases modern elegance, featuring a brand-new pool installed in 2022, ideal for enjoying the Arizona sun. A new roof was added in 2018. Inside, the open-concept layout is highlighted by sleek finishes, flooding each space with natural light. The bedrooms serve as peaceful retreats, while the spa-inspired bathrooms exude a sense of luxury. This beautifully updated home harmonizes comfort with sophistication, conveniently located near Scottsdale's finest dining, shopping, and entertainment, ensuring a life of ease and opulence within a tranquil environment.

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2512 E Plum Street Gilbert, AZ 85298

$715,000

4 Beds

3 Baths

2,728 SqFt

Status Active Under Contract

MLS # 6763438

Property Type Single Family Residence

Price Type --

You'll LOVE this corner lot home in the esteemed Freeman Farms! This beauty displays a well-maintained front yard, a convenient 4-car tandem garage, and a gated courtyard. Its spacious living areas ar excellent for hosting and entertaining guests. The home exudes elegance with its tall ceilings, lovely chandeliers, graceful archways, and tile flooring. The heart of the house is the spotless kitchen, fully equipped with a gas cooktop, wall ovens, recessed lighting, granite counters & backsplash, a pantry, an island, and beautiful wood cabinetry with crown molding. Find your sanctuary in the main suite, offering dual sinks, a step-in glass block shower, and a walk-in closet. Your guests will enjoy the casita with their own living space, sleeping area, full bath and private entrance! Take advantage of the guest's quarter, complete with a sitting room and a full bathroom. The perfectly sized backyard has a covered patio, pavers, and a fire pit for outdoor relaxation. Don't delay. Make this yours today!

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22914 W Sunland Avenue Buckeye, AZ 85326

$715,000

3 Beds

2 Baths

1,956 SqFt

Status Active

MLS # 6763666

Property Type Single Family Residence

Price Type --

You've found your dream ranch! This fully fenced property sits on almost two acres of land and features a main home, a bunkhouse, a covered 3,100 square foot barn area, half acre arena, irrigated pasture, and 6 covered corrals! The main 3 bed, 2 bath home has been freshly painted inside and out and all of the electrical outlets and switches have been updated. The kitchen features knotty wood cabinets with crown moulding, granite countertops, and stainless appliances. The formal family room is perfect for relaxing, the large bonus room is great for a hobby room or a second living area. All bedrooms have updated ceiling fans and recessed lighting. The bountiful laundry room has a utility sink and space for a workbench. Enjoy the country-style living with mountain views! Come visit today!

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