#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

3528 E Marlene Drive Gilbert, AZ 85296

$719,000

4 Beds

2.5 Baths

2,367 SqFt

Status Active

MLS # 6779015

Property Type Single Family Residence

Price Type --

Now available in the heart of Morrison Ranch! Surrounded by tree-lined streets, this beautifully upgraded 4-bedroom, 2.5-bathroom residence also boasts a spacious den, perfect for a home office - right near the front door. North/South facing. You'll love the open-concept layout featuring stylish finishes and abundant natural light. The gourmet kitchen is a chef's delight, equipped with stainless steel appliances, sleek countertops, and a generous island that flows seamlessly into the inviting living area. Retreat to the luxurious master suite, private en suite bathroom and a large walk in closet. Three additional well-appointed bedrooms provide plenty of room for family and guests.

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2222 S Yellow Wood -- Mesa, AZ 85209

New

$719,000

3 Beds

2.5 Baths

2,090 SqFt

Status Active

MLS # 6779311

Property Type Single Family Residence

Price Type --

This beautiful fully remodeled home sits on the 4th fairway of the golf course in Sunland Springs Village! There was no expense spared in the upgrades. Very desirable 2100 floor plan! Spacious master bedroom with sliding glass doors overlooking the golf course. Large bay windows in the living room to enjoy the view. The home has 3 bedrooms, 2.5 bathrooms and a dedicated laundry room with plenty of room for storage. 2.5 car garage. Extended rear patio with new pavers and ceiling fans. The kitchen, bathrooms, and laundry room have quartz counter tops. The home has upgraded modern cabinets through out. New flooring, new interior/exterior paint. You must see this for yourself. This home is move in ready!

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

Open House

New

$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. This home is a haven of luxury, designed for those who seek an exceptional living experience.

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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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4220 N 32nd Street Unit 4 Phoenix, AZ 85018

$718,000

3 Beds

3 Baths

1,487 SqFt

Status Active Under Contract

MLS # 6767631

Property Type Townhouse

Price Type --

Introducing the epitome of modern patio home living in the heart of Arcadia - welcome home to the Arcadian Phoenix. Nestled in the coveted 85018 area code, these modern townhomes redefine living with their spacious floor plans and an array of amenities. Step inside to discover a haven of elegance, boasting 10-foot ceilings on the main living floor and large windows that flood the space with natural light. The gourmet kitchen seamlessly merges with the inviting family room, creating the perfect setting for both everyday living and entertaining. Revel in the exquisite finishes, featuring stunning cabinetry, sleek quartz countertops, and timeless stainless steel appliances. Experience true architectural brilliance with the inclusion of a charming Juliet balcony

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31854 N 132nd Avenue Peoria, AZ 85383

Open House

$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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3416 W Cocklebur Drive San Tan Valley, AZ 85144

Open House

$717,697

3 Beds

2.5 Baths

2,575 SqFt

Status Active

MLS # 6768925

Property Type Single Family Residence

Price Type --

Modern deluxe comfort. The Lillington's inviting covered entry and spacious foyer hallway flow into the expansive great room and casual dining area, revealing the desirable large covered patio beyond. The well-designed gourmet kitchen is enhanced by a large center island with breakfast bar, plenty of counter and cabinet space, and gigantic walk-in pantry. The stunning primary bedroom suite is highlighted by dual walk-in closets and deluxe primary bath with dual-sink vanity, large soaking tub, luxe shower, and private water closet. Sizable secondary bedrooms feature walk-in closets and shared bath with separate dual-sink vanity area. Additional highlights include a versatile office off the foyer, convenient powder room and drop zone, centrally located laundry, and additional storage.

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30 Calle Del Medio -- Sedona, AZ 86336

Open House

$716,000

3 Beds

3 Baths

1,736 SqFt

Status Active

MLS # 6759338

Property Type Townhouse

Price Type --

Who pines for a remodeled kitchen with soaring ceilings, Viking appliances, and solid quartz countertops? How about remodeled bathrooms? Perhaps new flooring, light fixtures and paint tickle your fancy? Or maybe it's the front loader Bosch washer and dryer, high end whole house water filtration system, and tankless water heater that really bring it home for you? Big ticket items like new doors, windows, and window treatments are the bits that tend to catch my eye! Now for the real long lasting value in Sedona, the RED ROCK VIEWS... from the deck, to the living room, to the dining room and the kitchen, you are graced with stunning views of Sedona's iconic Thunder Mountain from the moment you walk in the front door. Upstairs living is separate from the downstairs 1 bed/1ba with it's own private entry: perfect for a teen, mother in law, or long term roommate to help offset your cost of living. Extra unfinished basement is perfect for storage. Furniture package available.

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2485 Dillon Boulevard Chino Valley, AZ 86323

Open House

$715,378

3 Beds

2.5 Baths

2,144 SqFt

Status Active

MLS # 6776725

Property Type Single Family Residence

Price Type --

Nestled in a serene neighborhood, the stunning Orchard plan has it all. This single-story, three-bedroom, two-and-a-half bathroom home is the ideal size for any family that loves to travel the diverse geography of Arizona. This home boasts with plenty of sunshine and open space, offering both relaxation and perfect for entertaining. The grand RV garage that this property offers is perfect for storing your RV while you wait for your next outdoor adventure! Heritage Pointe offers 7 distinct floorplans, modern amenities, open-concept layouts with designer finishes. You won't want to miss out; plan a visit with us today.

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11815 S 207th Avenue Buckeye, AZ 85326

$715,000

4 Beds

2.5 Baths

2,440 SqFt

Status Active

MLS # 6770649

Property Type Single Family Residence

Price Type --

Ranch-style property nestled in the heart of Buckeye, AZ, offers a spacious one-acre lot perfect for hosting gatherings with family and friends.

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