#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.

What’s Your Home Worth?

Search for Your New Home

Listing types.

For Sale

For Rent

Land

Multifamily

Commercial

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Distressed

Open House

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Price MaxAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Location Search Nearby

Lot SizeAny1+ Acres2+ Acres3+ Acres4+ Acres5+ Acres6+ Acres7+ Acres8+ Acres9+ Acres10+ Acres20+ Acres30+ Acres40+ Acres50+ Acres

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Neighborhood

Address, MLS# or Keyword

Location Search Nearby

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

School District

Address, MLS# or Keyword

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Location Search Nearby

Lot SizeAny1+ Acres2+ Acres3+ Acres4+ Acres5+ Acres6+ Acres7+ Acres8+ Acres9+ Acres10+ Acres20+ Acres30+ Acres40+ Acres50+ Acres

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Address, MLS# or Keyword

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

View As: Thumbnails List

Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

20039 N 273rd Lane Buckeye, AZ 85396

$719,500

3 Beds

2.5 Baths

2,800 SqFt

Status Active

MLS # 6738057

Property Type Single Family Residence

Price Type --

Welcome to this charming home in Sun City Festival boasting the Voyage Layout offering 3 bedrooms, 2.5 bathrooms, a golf cart garage, and a stunning backyard. Solar is fully owned! You will love the cozy gated courtyard! The inside of this home is spotless with a bright and neutral aesthetic. The gourmet kitchen has granite countertops, stainless steel built-in appliances, pendant lighting over the kitchen island breakfast bar, and a walk-in pantry. Upgraded blinds throughout! The primary suite is gorgeous with a door to the backyard, and a lavish ensuite bathroom with granite counters, dual sink vanity, and a tiled walk-in shower. The remaining bedrooms are move-in ready! Step outside into the expansive covered patio with beautiful travertine flooring and a pool deck. Cool off in the saltwater pool or relax in the spa and the pool is heated to enjoy year round! This home is turn-key! Sun City Festival is an amenity-rich active adult community where the desert meets beauty! Take your pick of activities offered; complete gym, state-of-the-art pickleball court, a variety of group classes, 27-hole beautiful golf course, 2 resort-style pools, onsite rec center, walking trails, and an INDOOR walking track with mountain views, Sun City Festival will not disappoint! Whether you are looking for a second home or a full-time residence in Arizona, this community has it all!

View Property

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!!

View Property

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!!

View Property

148 Circulo Vespucci -- Tubac, AZ 85646

$719,000

2 Beds

2.5 Baths

2,529 SqFt

Status Active

MLS # 6705269

Property Type Single Family Residence

Price Type --

Spectacular home in the exclusive Tubac neighborhood of Santiago del Barrio. Enter through the inviting front courtyard. Once inside, you'll find an open floor plan with a huge great room that features a kiva fireplace, a formal dining area and an ample kitchen with gorgeous cabinetry, granite countertops & breakfast nook area. Indoor design captures the essence of the southwest architecture with carved wood pillars, exposed beams & custom tile work. This lovely home offers 2 bedrooms plus a den that could be a 3rd bedroom, a huge laundry room, an oversized 3 car garage (double & single) with utility sink & side door. There is plenty of parking in front and side of the house. Walk or bike to the village of Tubac,its restaurants,shops and galleries!

View Property

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!

View Property

14269 N 22nd Street Phoenix, AZ 85022

Open House

$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.

View Property

14450 N Thompson Peak Parkway Unit 115 Scottsdale, AZ 85260

$719,000

2 Beds

2.5 Baths

1,564 SqFt

Status Active

MLS # 6731029

Property Type Townhouse

Price Type --

ARCHITECTURALLY UNIQUE! Gorgeous Beige is BACK! 2BR + LOFT TOWNHOME with 2 CAR GARAGE and DOWNSTAIRS MASTER! HUGE LOFT! Fantastic LOCATION! ALL NEW EVERYTHING! NEW HVAC, ALL NEW LG APPLIANCES, including Dishwasher, Refrigerator, Gas Cooktop, Oven & Microwave, Disposal, Range Exhaust Fan, Washer,Dryer & Hot Water Heater. NEW DESIGNER PAINT THROUGHOUT, including heightened Baseboards, NEW COUNTERTOPS, SINKS and FAUCETS, Undercounter lighting in kitchen, New Ceiling Fans w Remote controls, New Cool LED Lighting Ceiling Strip in Garage, GUARDIAN GARAGE FLOORS, New Garage Door Opener, NEW GARAGE DOOR, all new elec switches & outlets, all LED Interior Can Lighting, 2 Patios, Community Pool, ETC!!

View Property

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)

View Property

18938 W Luke Avenue Litchfield Park, AZ 85340

$719,000

3 Beds

2.5 Baths

2,675 SqFt

Status Active

MLS # 6753710

Property Type Single Family Residence

Price Type --

Experience luxury living in this exquisite single-level David Weekly home, ideally situated in a serene neighborhood with the White Tank Mountains as a breathtaking backdrop. Your private oasis awaits with a beautifully landscaped backyard featuring a sparkling pool and generous space for outdoor gatherings. The neighborhood, exclusively comprised of single-level homes, offers the utmost in privacy. The gourmet kitchen is a culinary delight, featuring sleek quartz countertops with glass tile backsplash, stainlesss appliances, abundant storage, and a convenient breakfast bar with pendant lighting for casual meals. The spacious owner's suite includes a large walk-in shower and walk-in closet, offering comfort and style. Extended covered patio, 3 car garage & this home is in impeccable shape

View Property

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

View Property

12957 W Hummingbird Terrace Peoria, AZ 85383

Open House

$719,000

2 Beds

2.5 Baths

2,260 SqFt

Status Active

MLS # 6768944

Property Type Single Family Residence

Price Type --

Welcome to this beautifully upgraded 2-bed, 2.5-bath home plus den located in the highly sought after Trilogy at Vistancia. 2,260 SF gem offers pre-paid solar lease, wood plank tile flooring throughout and quiet & private corner lot. The kitchen is a chef's dream featuring granite counters, tiled backsplash, large island and stainless steel appliances including gas range and new smart refrigerator. This spectacular home also boasts a built in wet bar, master bath w/quartz counters and lg custom tiled walk in shower, spacious laundry room w/ ample cabinets and W/D to garage with A/C mini split & epoxy flooring. Backyard is fully landscaped, w/ext travertine patio providing a serene escape perfect for entertaining. This home feels warm and inviting and perfect full or part time home! Located in Trilogy at Vistancia, residents enjoy access to incredible community amenities such as a championship golf course, clubhouse, fitness center, resort-style pools, walking trails, and more. Conveniently situated near shopping, dining, and entertainment options, this home is a true must-see.

View Property

10535 E Lincoln Avenue Mesa, AZ 85212

$719,000

5 Beds

3 Baths

3,184 SqFt

Status Active

MLS # 6776622

Property Type Single Family Residence

Price Type --

Welcome to your dream home! With brand new carpet and fresh interior & exterior paint, this beautiful Eastmark home is ready for you! Featuring a 3 car garage, over 3000sqft, 5-beds and 3-baths this home boasts a spacious open-concept layout which makes it perfect for modern living. In the heart of this home is its stunning kitchen, featuring an gas cooktop, built-in microwave & oven, SS appliances, a large island w/pendant lighting and updated bar area. You'll love the functionality of the walk-in pantry, providing gracious amstorage space. Upstairs, you'll find the laundry, bedrooms with a jack and jill bath, and a large loft area that offers endless possibilities for use as a media room, home office, or play area. The spacious master bed is a retreat in itself, complete w/ an en-suit bathroom and his and her closets spaces. Retreat to your spacious backyard for ultimate relaxation. With a large covered patio, upgraded travertine tile and shaded pergola this outdoor space is perfect for relaxing after a long day or enjoying the Arizona sunsets.

View Property