#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

669 Star Rock Drive Prescott, AZ 86301

Open House

$720,000

5 Beds

4 Baths

2,763 SqFt

Status Active

MLS # 6775553

Property Type Single Family Residence

Price Type --

This unique property features a 2284sf main floor PLUS a private 478sf studio suite with bedroom, living area, full bath and kitchenette totalling 2763 sq ft! As you walk through this home, notice the bamboo wood floors, vaulted ceilings, large picture windows to take in some beautiful views. The main floor features an oversize living room with gas fireplace plus a separate family room/den right off the kitchen and a for easy kitchen access, plus an independent dining room! 4 bedrooms, 3 baths, a large laundry room and a 2 car attached garage! Bedroom 4 has minisplit heat and cooling. Trex decking on both the front and back decks for nearly maintenance free outdoor living while enjoying the beautiful Prescott forest views. There is so much this home has to offer, you have to see it!

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3135 N 34th Street Phoenix, AZ 85018

$720,000

4 Beds

3 Baths

1,670 SqFt

Status Active

MLS # 6776317

Property Type Single Family Residence

Price Type --

Located on a newly landscaped, low maintenance corner lot with 2 RV gates, this extensively remodeled 1950 home in the heart of Phoenix (85018) features a unique layout that includes an attached 1 bed, 1 bath in-law suite with a separate front entrance, backyard access, and a door that connects it to the rest of the home. With a total of 4 bedrooms, 3 baths, 2 kitchens, and 2 living areas, the floorplan offers numerous possible uses. The kitchens have stainless appliances, quartz counters, and white shaker cabs. The primary bedroom has a computer nook, spacious walk-in closet, private bath, and an exit to the patio/backyard. Relax on the large covered front porch or covered patio w 2 ceiling fans. Seller is providing AHS Home Warranty worth $450. Several years in the making, don't miss.

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8767 W Villa Hermosa -- Peoria, AZ 85383

$720,000

3 Beds

2 Baths

1,895 SqFt

Status Active

MLS # 6777871

Property Type Single Family Residence

Price Type --

Discover your dream home in this stunning single-level custom residence, tucked away at the base of a cul-de-sac on over half an acre with no HOA! Perfectly tailored for all your recreational needs, this property offers expansive space, water softener and RO & new efficient air ducting. Lovingly remodeled, the kitchen features granite countertops, real wood Kemper natural maple cabinets w/ pullouts, & built-in pantry. The luxurious primary bath boasts an over-height alder wood vanity with granite countertops, dual Kohler sinks, bronze fixtures, custom mirrors, a spacious custom slate walk-in shower with dual showerheads & extensive storage options. Relax in the grand primary suite with a massive walk-in closet complete with custom built-ins. Plus a private office in the primary bedroom. The upgraded hall bath showcases a hickory vanity, granite countertops, a Kohler sink, and a custom shower door. Additional home highlights include a Trane A/C unit, oak wood shutters, recessed lighting, all-tile flooring, and spacious secondary bedrooms with closet organizers. Functional upgrades include a full laundry room with cabinets and utility sink, dual-pane windows & garage cabinetry. Outside, enjoy a full-length covered patio, slab parking for up to six cars, a half-circle driveway, an RV gate, and ample side yard space for your toys. The backyard also features a 2 sheds and citrus trees.

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15226 N 10th Street Phoenix, AZ 85022

$720,000

3 Beds

2 Baths

2,191 SqFt

Status Active

MLS # 6778995

Property Type Single Family Residence

Price Type --

Lookout Mountain/Moon Valley Location - Hike the Mountain or Walk to the Shops on 7th St! IDEAL! - You are Welcomed by capturing brightness & light through the Large Picture Windows into the Backyard - The House is Full of Charm - Great Quiet Neighborhood - Scenic & Sunset Views from Full Covered Patio on West & Mountain Setting to East - Open Floor Plan - New Fully Tiled Throughout Floor Plan in 2024 - U-shaped Kitchen w/Corian Countertops & Honey Colored Cabinets - Cozy Breakfast Nook w/Counters & Cabinets - Vaulted Ceiling in Living Room w/Gas Fireplace - Large Master Bdrm w/Cedar Lined Walk-In Closet, Double Sink & Large Step-In Glass Block Shower - Paver Driveway & Tiled Front Courtyard - All Appliances Included - Seller offering $450 credit toward Home Warranty - NO HOA

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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.

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11035 E Ulysses Avenue Mesa, AZ 85212

Open House

$719,995

4 Beds

2.5 Baths

2,980 SqFt

Status Active

MLS # 6708132

Property Type Single Family Residence

Price Type --

This wonderful two-story 4 bedroom, 2.5 bath upgraded quick move-in home is designed beautifully with tile flooring and upgraded carpet, upgraded kitchen cabinetry, countertop & KitchenAid appliances. Additional upgraded cabinetry with soft close and dovetail construction added throughout the home, plus more. The laundry room is located on the second floor along with the primary bedroom, 3 secondary bedrooms and a loft space big enough to entertain the whole family. This home is a must see and wont last long. This is your opportunity to experience Toll Brothers Luxury at the right price.

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7699 W Tether Trail Peoria, AZ 85383

$719,990

3 Beds

2.5 Baths

2,495 SqFt

Status Active

MLS # 6714648

Property Type Single Family Residence

Price Type --

Welcome to Ashton Woods newest community in Peoria -The Sanctuary at Aloravita. This 2,495 Topaz floorplan features a Modern Desert elevation and includes 3 bedrooms, 2.5 baths, and a 3-car tandem garage. The massive 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, beautiful white shaker style cabinets, cabinet hood, quartz countertops, and a must see Butler's Pantry. Other features include, 8' interior doors, wood plank floor tile, upgraded carpet/pad, and a soft-water loop in the 3-car tandem garage.

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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!

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21523 N 72nd Avenue Glendale, AZ 85308

$719,900

5 Beds

3 Baths

3,128 SqFt

Status Active

MLS # 6753093

Property Type Single Family Residence

Price Type --

Move-in ready 5 bedroom, 3 bathroom home in the highly sought-after Sierra Verde Community of Glendale offers both comfort and style. Step inside to find a formal dining and living area, complete with a cozy 2-way fireplace and elegant plantation shutters, all beneath stunning vaulted ceilings that create an open and airy feel. The kitchen is a chef's delight, featuring a stainless steel appliance package, granite countertops, abundant cabinet space, and a pantry for all your storage needs. The master bedroom serves as a private retreat with its luxurious amenities, including double sinks, walk-in tile shower, and a spacious walk-in closet. Sitting on a large lot with mature trees, the backyard is perfect for outdoor living, featuring a sparkling pool and a covered patio.. ...for relaxing or entertaining. Additional highlights include new carpet, a 3-car garage, RV gate, and plenty of space for storage or recreational toys. The home also boasts several recent upgrades, ensuring peace of mind for years to come: a brand new AC unit installed in 2021, a beautifully remodeled upstairs bathroom completed in 2024, a new pool filter added in 2024, and a full roof replacement in 2018. Get a private tour today!

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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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4145 W Buckskin Trail Phoenix, AZ 85083

$719,900

4 Beds

3 Baths

2,708 SqFt

Status Active

MLS # 6777318

Property Type Single Family Residence

Price Type --

Welcome to your dream home in desirable Stetson Hills! Stunning 4-bdrm + den showplace Huge great room w/ soaring 10-foot ceilings & built-in surround sound. Formal Dining. Gourmet kitchen boasts double islands, a gas cooktop, & spacious pantry, making it a chef's paradise. The expansive owner's suite is a true retreat, complete w/ a remodeled bath, a large walk-in closet, & a private door to the back patio. Step outside to your resort-style backyard, where a sparkling Pebble Tec pool & spa await, featuring a large Baja step, elegant stone accents, & fire features amidst manicured landscaping, including low-maintenance faux turf. The extended patio w/ a built-in gas grill, refrigerator, & integrated speakers. 2nd Master w/ private bath. Two newer Lennox A/C's. Pride of ownership!

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4032 E Earll Drive Phoenix, AZ 85018

$719,500

3 Beds

3 Baths

2,015 SqFt

Status Active

MLS # 6736069

Property Type Single Family Residence

Price Type --

Seize the opportunity to transform this ARCADIA-OSBORN, north facing, gem into your dream project. Move in and renovate, or an opportunity to build new in one of the most desired zip codes convenient to local dining, great shopping, entertainment, airport and Scottsdale schools. Arcadia is known for scenic views and proximity to the best Phoenix has to offer. Booming area with many remodels and flips.

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