#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.

#1 Answer to the Housing Shortage: New Construction | Simplifying The Market

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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22861 E Alyssa Road Queen Creek, AZ 85142

$714,990
3 Beds
2.5 Baths
2,451 SqFt
Status Active
MLS # 6763682
Property Type Single Family Residence
Price Type --
Madera at Sultana , Aspen ~newest plan for Ashton Woods, Madera allows for quiet living with convenient access to the 24 Freeway and Shopping while providing amazing community ammenities. The Aspen Floor Plan gives you spacious living with an open concept that provides the much needed outside storage for your trailers, toys,shop area in the 4 car supersize garage with rear door. Tankless water heater, 4 panel SGD,double gate, den with doors,larger lot size in Madera. This home features a gourmet kitchen, deco wrapped island, GE built in appliances, 36'' gas cooktop, and beautiful shaker cabinetry and quartz counters in the kitchen. Neutral color palette throughout the home. The main living areas are styled with 8' interior doors, wood plank tile floors and upgraded carpet, oversized spacious bedrooms, and the primary bathroom features an enlarged tiled shower and separate free standing tub. The 4 car supersize with rear access door is a must see garage. Stop by to see the newest master plan community in Queen Creek and newest floor plan.

20642 W Montebello Avenue Buckeye, AZ 85396

$714,940
3 Beds
2 Baths
2,236 SqFt
Status Active Under Contract
MLS # 6767074
Property Type Single Family Residence
Price Type --
Experience luxury and comfort with breathtaking **MOUNTAIN and CITY VIEWS** in this coveted Goldfinch floorplan. Outdoor oasis of this nearly new Victory Home features 20' stacking slider complete with custom screens and shades, expansive travertine and large outdoor patio: *TV included!*. Relax in 5-person Jacuzzi Spa with custom cover and lights and at the gas fire table. Enjoy the *twinkling city lights* from your raised patio platform & breathtaking sunset views of Tiger Mountain from backyard & spacious owners suite. Kitchen upgrades include SS gourmet appliances with gas cooktop, culinary hood and double ovens ready for holiday baking. Your on-trend finishes include modern quartz countertop, undermount SS single sink, pot & pans drawers and included GE Profile French-Door fridge. Herb garden is complete with Basil, Thyme, Oregano & Lavender on drip system and timer. Squeeze every moment out of your morning with 3 Orange Trees, an Olive Tree & 2 Agave Plants. Enjoy the oversized owners shower with an 10 overhead rainfall showerhead and $4,000 upgraded tile to the ceiling with bench for safety and convenience finished with frameless glass doors. A personal makeup vanity separates double sinks with 2 extra storage cabinets for all your linens and bathroom accessories leaving extra room for your spacious owners suite walk-in closet. Impress your guests with a comfortable 2nd bedroom with full bath next door for privacy and convenience. Custom barn doors enclose versatile space that can be used as a 3rd bedroom, personal den or private living room for guests. Enjoy views of your luxury outdoor oasis from your pocket office with expansive surface for working or crafts along with floating shelves. The laundry room boasts custom built-in cabinets and countertops with extra space for additional storage. Your oversized wide 2-car garage is complete with upgraded vinyl plank flooring with extra room for your golf cart, custom built-in garage cabinets with space for a TV to catch the game and overhead storage for more room to store. Enjoy this coveted, Goldfinch Floorplan that just completed the 1-year inspection with meticulous attention to detail. FREE Warranty included on the home which carries over to the new owners FREE of charge. This home is part of the Annika Community that is known for their neighborly community and events. See Docs Tab for Extensive List of Additional Luxury Upgrades, SPDS & Warranty Information. Owner is open to leaving furniture for a cost to be negotiated apart from the contract. Victory at Verrado is an amenity-rich active adult community within the Master Planned community of Verrado. This community offers a slice of paradise for golf enthusiasts, with 2 beautifully manicured golf courses providing endless hours of enjoyment. Each course is complete with its own Clubhouse, bar, and restaurant! The main clubhouse even offers a full-service salon! Beyond the greens, residents can indulge in resort-style living, featuring multiple inviting swimming pools, state-of-the-art fitness centers, and versatile sports courts for active recreation. Nature lovers will delight in the convenience of nearby hiking and walking trails, while the vibrant clubhouse serves as the social heart of the community, offering an array of activities for forging connections and making cherished memories with friendly neighbors. Main Street Verrado offers a grocery store, 2 salons, restaurants, and much more! This is the perfect place to embrace the best of both worlds: serene desert living and easy access to the vibrant city of Phoenix.

14713 W Black Gold Court Sun City West, AZ 85375

$714,900
3 Beds
2.5 Baths
2,642 SqFt
Status Active
MLS # 6737041
Property Type Single Family Residence
Price Type --
Discover luxury living in the heart of Sun City West at the exclusive Fitzpatrick Ranch, the only small community development within Sun City West, which is not by Del Webb, features superior 2x6 construction. This spacious 2,687 sq ft home boasts 3 bedrooms plus office, high-end appointments and custom touches throughout, providing an unparalleled living experience. As you step inside, you will be greeted by 9ft ceilings and 8ft doors, enhancing the open and airy feel of this elegant home. The expansive great room, complete with a gas fireplace, invites relaxation and comfort. The home features plantation shutters in the great room, dining room, and office. Other rooms have wooden blinds and new luxury laminate flooring in all bedrooms, CLICK MORE complemented by porcelain tile in the main living areas. The gourmet kitchen is a chef's dream, featuring a large island with a prep sink, granite countertops, a 6 burner gas cooktop, a wall convection oven, a built-in microwave/convection, stainless steel appliances, an RO system, and a hot water system. The kitchen is adorned with cherry cabinets, including pull-outs in all bottom shelving, soft closing and upper cabinets with glass-encased doors. A spacious dining area completes this well-appointed space. The split floor plan offers a private Master suite with access to the back patio, a luxurious bath with a jetted tub, a large walk-in shower, a large closet with ample storage, double sinks, private toilet room with a bidet. Guest bedrooms share a Jack and Jill bath, with a separate shower and toilet rooms, with one bedroom offering direct access to the backyard. Easily turn the office into a fourth bedroom. Additional features include a split garage with a single garage on one side and a double garage on the other. The double garage is equipped with built-in attached cabinets for added storage, an upgraded electric panel, and a soft water system. This is an all Kohler home. A large laundry room adds convenience to daily chores and additional space for additional pantry storage. The private backyard sanctuary with a covered patio is perfect for outdoor entertaining or peaceful relaxation. The woman residents of this tight community experience monthly lunches & Pour at 4, and enjoy potlucks and block parties. Enjoy all the amenities Sun City West has to offer. Experience the perfect blend of luxury, comfort, and community in this exceptional Sun City West home.

21769 E Domingo Road Queen Creek, AZ 85142

$714,900
5 Beds
3 Baths
4,481 SqFt
Status Active
MLS # 6616723
Property Type Single Family Residence
Price Type --
Nestled in the heart of Queen Creek, this stunning 5-bedroom, 3-bath residence boasts 4,481 sqft of elegant design and top-tier amenities. The main floor effortlessly houses the master suite and two additional bedrooms. Descend to a fully finished basement to uncover two large bedrooms ensuring privacy, making it perfect for guests or growing families. Enhancing its allure, the basement is not only pre-plumbed for an additional sink but also houses a kitchenette, full bathroom, and two storage rooms. The crowning gem is the full stadium seating movie/theater room, a paradise for film enthusiasts and ideal for family movie nights. Step outside and be captivated by an outdoor oasis tailor-made for Arizona's sunny disposition. Dive into the pristine, sparkling pool accentuated with a gr grand rock waterfall grotto. A built-in running water slide promises endless fun, making it the perfect summer escape. For those moments of relaxation or intimate gatherings, a serene gazebo amidst the backdrop of cascading water sets the mood. Located in the prestigious Queen Creek community, residents will enjoy proximity to top-rated schools, gourmet dining, shopping, and parks. While the neighborhood offers tranquility, it remains conveniently connected to all urban luxuries. This property isn't merely a residenceit's an elevated lifestyle. Secure your viewing today to experience this masterpiece in Queen Creek luxury.

2607 W Gray Wolf Trail Phoenix, AZ 85085

$714,900
4 Beds
2.5 Baths
2,711 SqFt
Status Active
MLS # 6684270
Property Type Single Family Residence
Price Type --
This move-in ready home offers 4 bedrooms & den & 2.5 baths in 2700 SqFt with an open great room floor plan & spacious upstairs loft. The kitchen features staggered maple cabinetry, granite counters, stainless appliances, walk-in pantry & island with breakfast bar & pendant lighting. Sliding doors lead out from the dining area to covered patio with surround sound & gas stub for BBQ, extended paver patio with a sparkling pool with a water feature, perfect for relaxing and entertaining. The master retreat is on the main level & has a bay window and private bath with dual sink, granite vanity, oversized tiled shower & walk-in closet. 3 secondary bedrooms are upstairs & all have walk-in closets. Other features include a 3 car tandem garage . A Must see

1100 Verde Valley School Road Sedona, AZ 86351

$714,900
5 Beds
3 Baths
2,573 SqFt
Status Active
MLS # 6751133
Property Type Single Family Residence
Price Type --
Check out the stunning Sedona red rock views from this amazing Oak Creek home! The 5 bed/3 bath single-level home features a split floor plan, cathedral ceilings, ample natural light, and updated bathrooms. The remodeled kitchen boasts striking solid surface countertops, exquisite cabinetry, and new stainless steel appliances. Out back, stay cool under the expansive covered patio and enjoy the mountain views. The property provides easy access to all of the amenities of the Village of Oak Creek and the I-17. Welcome home!

62 W Elmwood Place Chandler, AZ 85248

$714,900
5 Beds
3 Baths
2,878 SqFt
Status Active
MLS # 6754032
Property Type Single Family Residence
Price Type --
Huge Backyard!!!! Beautiful Home with Private Pool in the gated Ironwood Vistas Community! Nestled in the sought-after Ironwood Vistas community, this home offers it all! Enjoy the luxury of your own private pool on one of the largest lots, plus access to the community pool and jacuzzi. The spacious layout features a full bedroom and bathroom downstairs—perfect for guests or a private retreat. Upstairs, discover a massive bonus room/loft for extra living space. With new living room and dining room tile, a recently serviced AC (new in 2014), and charming touches like a Pygmy orange tree and fresh basil, this home is full of delightful surprises. Come see why this home stands out!

26841 N 14th Lane Phoenix, AZ 85085

$714,900
4 Beds
2 Baths
2,018 SqFt
Status Active
MLS # 6762621
Property Type Single Family Residence
Price Type --
This stunning home is nestled at the foot of a serene mountain preserve within the highly sought after master planned community of Fireside at Norterra. New AC unit and exterior paint. The fabulous interior showcases shutters, on-trend color palette, tile flooring in common areas, and wood floors in bedrooms. Versatile formal dining room and desirable great room w/pre-wired surround sound. The open-concept kitchen boasts SS appliances, granite counters, travertine backsplash, recessed & pendant lighting, pantry, wood cabinetry, and a prep island w/breakfast bar. Primary bedroom has an ensuite with dual sinks. You won't want to leave the backyard with breathtaking views of the Sonoran Mtn Preserve. Fireside amenities include community center with gym, pools, tennis, parks and much more Discover the spacious backyard, where tranquility meets outdoor living! It includes a firepit, an extended paver-covered patio, artificial turf, and a view fence for serene vistas. Fireside amenities feature a state-of-the-art community center that includes a gym, pools, tennis courts, parks, rock climbing wall, & much more. Enjoy endless recreation and relaxation just moments away! Wow, just WOW!

4143 E Rockledge Road Phoenix, AZ 85044

$714,900
4 Beds
2 Baths
2,340 SqFt
Status Active
MLS # 6764192
Property Type Single Family Residence
Price Type --
Amazing home! THIS BEAUTIFUL 3 BEDROOM plus Den HOME IS IN A PRIME LOCATION. GREAT KYRENE SCHOOL DISTRICTS. WALKING DISTANCE FROM PARKS AND POOLS. EASY ACCESS TO 202/I10. CLOSE TO EVERYTHING..., SHOPPING, RESTAURANTS, NIGHT LIFE. THIS HOME OFFERS A SINGLE LEVEL SPLIT FLOOR PLAN WITH NORTH/SOUTH EXPOSURE. PLANTATION SHUTTERS; GRANITE COUNTERTOPS; MARBLE FLOORS; HARDWOOD FLOORS; WATER SOFTENER; PRE WIRED SURROUND SYSTEM; ALARM SYSTEM; MISTER SYSTEM. OFFICE CAN EASILY BE MADE INTO 4TH BEDROOM/PLAYROOM. OVERSIZED 3 CAR GARAGE WITH TONS OF CABINET STORAGE. BACKYARD IS GREAT FOR ENTERTAINING. LUSH WITH MATURE TREES ALONG WITH PUTTING GREEN; FIRE PIT & SPA. CLOSE TO A-RATED SCHOOLS, SHOPPING, AMENITIES AND COMMUTER HIGHWAYS.

2806 E Tina Lane Gilbert, AZ 85298

$714,900
3 Beds
2 Baths
2,375 SqFt
Status Active
MLS # 6772750
Property Type Single Family Residence
Price Type --
ONE-OF-A-KIND RANCH HOME on a 1/3 ACRE CORNER LOT in the HEART OF GILBERT! This original owner home boasts a front living space with panoramic backyard views, a spacious kitchen/great room, with NEW APPLIANCES, 2 split bedrooms, and a large multipurpose room (perfect as a game room, home gym, 4th bedroom or convert to a THIRD CAR GARAGE. The primary suite is generously sized, and bathrooms have been recently updated. Small office off the entry! The huge side yards include an RV gate with tons of additional gated parking in the rear, and a gated pebble tec pool and SPA with a WATERFALL + artificial turf. Other side yard features lots of additional space and horseshoe pits. Just steps from Gilbert Regional Park, Shamrock Estates parks, and Chandler Traditional Academy. Don't miss this one!

15868 N 18th Place Phoenix, AZ 85022

$714,900
4 Beds
3 Baths
2,043 SqFt
Status Active
MLS # 6770685
Property Type Single Family Residence
Price Type --
Gorgeous home in great area! This home has been completely remodeled from the ground up plus a new addition of a master suite, extended dining area and a 2 car garage was completed this year to showcase this beautiful contemporary home. The completed project includes new plumbing, new electric, new roof, sprayed foam throughout, new drywall, paint, floors, windows, doors, fixtures, appliances and more. Close to schools, shopping, freeways and beautiful mountain views with hiking trails. Its a must see!

20362 E Bronco Drive Queen Creek, AZ 85142

$714,900 - 3Br/2Ba -  for Sale in Will Rogers Equestrian Ranch Unit 1, Queen Creek
Open House
$714,900
3 Beds
2 Baths
1,800 SqFt
Status Active
MLS # 6770422
Property Type Single Family Residence
Price Type --
This is the dream home you've been waiting for in the exclusive Will Rogers Equestrian Ranch community! With over $250K recent high-end upgrades, the owner spared no detail in this meticulously remodeled contemporary masterpiece. The chef's kitchen is a showstopper, featuring custom-designed ShowPlace cabinetry with 42'' high wall cabinets in a chic Heron Plume finish, soft-close hardware, a pie-cut lazy susan, LED lighting, Blanco ''Diamond'' undermount sink and a 36'' x 42'' decorative tapered range hood with a Vent-A-Hood 600 CFM blower. Enjoy brilliant Pental Quartz countertops paired with a designer tile backsplash in the Paloma Picket pattern, new stainless steel appliances, and stunning wood-look tile flooring throughout. The master bath has been elegantly reimagined (see more). with new cabinetry, countertops, sinks, faucets, lighting, and stylish new flooring. The guest bath also boasts a sleek remodel, featuring a tub-to-shower conversion, new cabinetry, and modern finishes. Even the 3-car garage has been revamped with new flooring, cabinetry, and paint. The home is freshly painted inside and out, with custom backyard doors adding to its appeal. Nestled in the heart of Queen Creek, Will Rogers Equestrian Ranch is a one-of-a-kind horse community, complete with a 15-acre equestrian center offering stables, arenas, round pens, and access to scenic trails. Community perks also include a pool, RV parking, sport courts, and a clubhouse, all just minutes from Queen Creek's best shopping, entertainment, and parks. Bring your horses and your toysthis is the dream home you've been searching for! Don't forget to check out the documents tab for a full list of top-of-the-line upgrades!

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