#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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16719 E Gloria Lane Scottsdale, AZ 85262

$710,900
4 Beds
2.5 Baths
2,738 SqFt
Status Active
MLS # 6374395
Property Type Single Family Residence
Price Type --
**COMPLETED SPEC** 4 BED, 3 BATH, 2738 SQFT, 4 CAR GARAGE. THERE IS A HUGE OPEN KITCHEN WITH UPGRADED ESPRESSO CABINETS, GRANITE COUNTER TOPS, STAINLESS STEEL APPLIANCES AND A WALK IN PANTRY. OPEN GREAT ROOM WITH GAS FIREPLACE. UPGRADED TILE FLOORING IN ALL THE RIGHT PLACES. THERE IS A FRONT AND REAR COVERED PATIO, 2X6 CONSTRUCTION, TILE ROOF, LOW-E DUAL PANE VINYL FRAME WINDOWS,,

50134 W Gail Lane Maricopa, AZ 85139

$710,000
3 Beds
2 Baths
1,226 SqFt
Status Active
MLS # 6729907
Property Type Single Family Residence
Price Type --
SPACIOUS, AMPLE LAND WITH PLENTY OF POSSIBILITIES! This equestrian estate sits on 3.3 fenced acres which include a 17-stalls with electricity and water pipes, horse setup, turn out area, ample space for a partially-lit arena, covered RV/trailer parking (RV SPOT WITH 30AMP ) and covered hay storage. The 3 bedroom, 2 bathroom home comes with an updated kitchen and baths. Irrigation, paved roads, private water co. and NO HOA are some of the perks to name a few! Truly an opportunity you can't miss! IT HAS CASITA FULLY RENOVATED THAT COMES A BONUS FOR YOUR GUESTS!!!

11033 E Rafael Avenue Mesa, AZ 85212

$710,000 - 4Br/2Ba -  for Sale in Nova Vista Unit C, Mesa
New
$710,000
4 Beds
2 Baths
2,362 SqFt
Status Active
MLS # 6776298
Property Type Single Family Residence
Price Type --
Why start with a new-build when you can find your own personal paradise MOVE-IN ready next door? Find your ''NEXT'' with all the bells & whistles in the heart of the Mesa Tech Corridor! This 4 BD/ 2 BA split-floorplan offers a private den/office, complete with French doors, a primary suite along one side, three large bedrooms along the other, and sits on an oversized lot with mature landscaping in front and back, providing both privacy and tranquility. A fully updated gourmet kitchen with a large wet island, S/S appliances, and quartz countertops welcomes any chef and guests alike. The kitchen opens to a spacious dining nook and expansive great room, complete with a custom entertainment center, floating shelving, and an electric fireplace with multi-color options for every taste. Newer garage cabinets, storage shelves, an insulated garage door, and an A/C mini-split allow for a gamut of hobbies in comfort, regardless of the weather outdoors. Do you prefer peace & quiet or a mecca for entertainment? The private back yard offers both respite and amenities for any occasion. A private pool with water feature cools any summer day while a personal putting green and half-court basketball area offer options for the athlete in all of us. A pavered patio extends to a covered Ramada and an outdoor built-in barbecue area, perfect for entertaining on all occasions. Close to the 24 Expressway & 202 freeway & nearby all the conveniences of schools, shopping, restaurants, & entertainment throughout the southeast Valley, find your oasis in the desert now and make your offer before it's too late!

12790 W Desert Vista Trail Peoria, AZ 85383

$710,000
2 Beds
2 Baths
1,925 SqFt
Status Active
MLS # 6777159
Property Type Single Family Residence
Price Type --
Nestled within a quiet cul-de-sac in the prestigious 5-star Trilogy resort community, this meticulously maintained 2-bedroom w/ a den, 2-bathroom home offers the ultimate in relaxed luxury. From the moment you arrive, you'll feel the warmth & charm of this single-level entertainer's dream. The open floor plan welcomes you into an airy space perfect for hosting friends & family, with seamless transitions between living areas. The gourmet kitchen is a chef's delight, featuring premium appliances, ample granite countertops, custom cabinetry, & a spacious center island with seating — ideal for casual dining or socializing while cooking. . Step outside to discover your own private retreat. The beautifully landscaped backyard offers a tranquil setting to unwind or entertain. Backyard boast expansive covered patio, lush greenery, & a well-manicured lawn that requires minimal upkeep. Additional highlights include a luxurious primary suite with en-suite and walk-in closet, a versatile guest room, den and oversized laundry room. Situated w/in Trilogy, you'll have access to a host of amenities, from golf courses and pools to fitness centers and community events, enhancing the vibrant resort lifestyle this community is renowned for. This property is truly a rare find in one of the most desirable locations.

12963 W Andrew Lane Peoria, AZ 85383

$710,000
2 Beds
2 Baths
2,193 SqFt
Status Active Under Contract
MLS # 6765008
Property Type Single Family Residence
Price Type --
Step into this beautifully designed, energy-efficient home in Trilogy at Vistancia and experience the perfect blend of modern luxury and comfort. The moment you enter, you're greeted by a spacious, open layout that flows effortlessly from room to room. The heart of the living room is the 2021 remodel, which transformed the space with a cozy electric fireplace, built-in bookshelves and a striking stacked stone accent wall, perfect for gathering with loved ones or enjoying a quiet evening. Every detail of this home has been thoughtfully designed to create an atmosphere of warmth and sophistication. Imagine stepping into a kitchen that inspires culinary creativity, where soft under-cabinet LED lighting illuminates your workspace, and everything is neatly organized with pantry pullout shelves and custom drawer organizers. It's a space where cooking feels effortless. The recently remodeled master bathroom, completed in 2023, invites relaxation with its sleek quartz countertops, elegant Kohler sinks, and rich Moen oil-rubbed bronze fixtures, creating a spa-like retreat in your own home. The porcelain tile floors, added in 2021, extend through the master and guest bedrooms, offering both style and practicality. As you move outdoors, the backyard beckons for memorable gatherings. Picture yourself around the warmth of a natural gas fire pit, grilling at the built-in prep island while friends and family gather. The soothing breeze from the patio ceiling fans keeps everyone comfortable, and the lush landscaping stays vibrant year-round, thanks to a modern PVC irrigation system. This backyard oasis is designed for easy living and endless enjoyment. This incredible community offers an exceptional lifestyle with three distinct club experiences: the golf clubhouse, Kiva Club, and Mita Club. These feature a range of amenities designed to connect residents with their passions and neighbors. With many member-led clubs, a variety of lifestyle events, and activities from golf to art, there's something for everyone. Residents enjoy resort-style pools, fully-equipped fitness centers, tennis and pickleball courts, and creative spaces like the Artisan Studio. The community's scenic trails and chef's kitchen at Four Sages further enrich the living experience in this stunning desert setting.

20039 S 231st Street Queen Creek, AZ 85142

$710,000
3 Beds
2 Baths
1,718 SqFt
Status Active
MLS # 6747233
Property Type Single Family Residence
Price Type --
This stunning newly built home in the highly desirable Barney Farms community of Queen Creek, AZ offers a perfect blend of modern design and comfortable living. The home boasts a charming exterior on a corner lot with a neatly manicured landscape curb appeal. From the moment you step inside, you'll notice the attention to detail and high-end finishes that set this property apart. The kitchen is a true centerpiece, featuring sleek grey cabinetry with over and under cabinet lighting, granite countertops, white tile backsplash and top-of-the-line stainless steel appliances as well as elegant pendant lighting above the large center island. The open floor plan seamlessly connects the kitchen to the living and dining areas, creating an inviting space for both relaxation and entertainment. The master suite is a true retreat, featuring a spacious layout and a luxurious en-suite bathroom with upgraded fixtures, a walk-in tiled shower, and dual sink vanity with granite countertops and a large walk in closet. The master suite also has an exterior door leading to a backyard oasis of comfort enhanced with a covered patio ideal for outdoor dining, a cozy seating area with a custom gas fire pit, waterfall features and a large green turf area - perfect for Arizona evenings. The low maintenance landscaping ensures you can enjoy your outdoor space without the hassle of extensive upkeep! Other upgrades include exterior custom screen doors and permanent exterior holiday LED lighting. This home is a rare find in Barney Farms offering luxurious living in a vibrant community filled with amenities including parks, a 22 acre lake for fishing & kayaking, a community pool, pickle ball courts, basketball courts and even a community clubhouse where the HOA puts on monthly events for the residents! Don't miss the opportunity to make this exceptional property your new home!

2513 W Mineral Road Phoenix, AZ 85041

$710,000
4 Beds
2.5 Baths
3,588 SqFt
Status Active
MLS # 6715616
Property Type Single Family Residence
Price Type --
Discover this exquisite 4-bedroom home on a highly desirable N/S facing lot nestled in the gated community of Southern Highlands and surrounded by stunning mountain views. The open layout features large, flexible spaces that are both functional and energy-efficient including 19ft ceilings, a huge loft, and a separate bar area. The living area boasts a stone hearth fireplace, two-tone paint throughout, and tile floors with marble accents. The gourmet kitchen is a chef's dream with 42'' staggered cabinets, Corian countertops, a tiled backsplash, bar top seating, and double ovens. The master suite is conveniently located on the first floor, while the other three bedrooms and the loft with a balcony are upstairs. The master suite boasts a large jetted bathtub, double sinks, walk in shower, and huge walk in closet. Outside is a large covered patio, spacious grassy area of entirely synthetic grass, plus heated pool and spa. Just steps away from hiking and biking trails, with a short commute to downtown Phoenix, Sky Harbor Airport, I-17, and I-10. This home offers a perfect blend of luxury and convenience!

961 E Lamplighter Lane Tempe, AZ 85283

$710,000
5 Beds
3 Baths
2,808 SqFt
Status Active
MLS # 6727130
Property Type Single Family Residence
Price Type --
Welcome to your dream home! This beautifully remodeled 5-bedroom, 3-bathroom gem, with one bedroom and bathroom downstairs, is in the desirable The Lakes subdivision. The spacious kitchen boasts ample cabinets and a perfect view of the family room, ideal for everyday living and entertaining. Formal dining and living rooms offer elegance and comfort, while the family room serves as a cozy retreat. Abundant natural light floods the space. Upstairs, find 3 additional bedrooms, the main bedroom, and a stunning balcony with partial lake views.Walk out the front door to a beautiful lake inlet and dock where you can picnic, feed ducks, paddle board, boat/sail, canoe, and more! The lake is stocked year-round with various species of fish, and there are plenty of turtles, too. CHECK OUT THE STREET VIEW TO SEE THE CLOSE PROXIMITY TO THE LAKE! The recently renovated clubhouse offers year round activities and clubs for children AND adults, affordable rentals for the lakefront clubhouse (inside and out), a gym, and more! Don't miss your chance to experience luxury lakeside living! Professional photos will be uploaded soon

1572 W Chicago Street Chandler, AZ 85224

$710,000
4 Beds
2 Baths
2,313 SqFt
Status Active Under Contract
MLS # 6753393
Property Type Single Family Residence
Price Type --
Price Reduced! Come home to your own resort, located in the heart of Chandler. Minutes from the 101, 202 and the US60, 20 min drive to either airport,& less than 2 miles to Chandler Mall or Downtown Chandler. Walking distance to Chandler YMCA. local grocery stores, Chandler Regional Hospital blocks away, many medical offices, all major employers in Chandler. This great family 4 bedroom, 2 bath home, sits on the largest lot in the subdivision, and has been lovingly remodeled by the same licensed Master Craftsman on all projects. The attention to detail is obvious throughout. The kitchen remodeled Jan. 2023 and boasts New Custom Cabinets with soft close drawers/doors. Pull out shelves in lower cabinets. Butcher Block Island Counter Top with Quartz Countertops on rest. SEE MORE..... A fully permitted 413 sq ft great room is a fantastic addition to your entertainment areas and Double Glass French Doors opens onto a very expansive patio and pool deck with fenced in pebble tec pool/spa resurfaced 2022. The large lot wraps around the home features a citrus orchard with lemon, two kinds of orange and grapefruit trees. Smaller patios off the family room and the Master bedroom add to your outdoor living experience. For pet owners the addition of a doggy wash/potting station with Hot and Cold running water is a must! Lot is landscaped with flowering trees, shrubs and palms, creating a secret garden for your enjoyment. Located on a cul de sac lot with only one story homes as your neighbors, gives you the privacy you crave. Many improvements recently! See Attached Improvements/Remodeled and Does not Convey List in Documents Tab. Installed new roof and fresh interior paint through out July 2024. Become only the third owner of this much-loved home. It won't last long!

22883 E Rosa Road Queen Creek, AZ 85142

$710,000
3 Beds
2.5 Baths
2,423 SqFt
Status Active
MLS # 6757064
Property Type Single Family Residence
Price Type --
Located in the highly sought after community of Spur Cross, close to everything Queen Creek has to offer! From the moment you arrive, you're sure to be impressed. Built in 2021, complete with an incredible floor plan and RV garage. Walking through the front door you'll immediately notice the pride of ownership and upgrades throughout, including beautiful tile plank flooring. The gourmet kitchen offers a gas range and double oven with a large walk-in pantry and the master retreat is the perfect place to unwind after a long day with a completely remodeled master bath. The layout offers a bonus space perfect for a game room or office and a huge mudroom. Outback you'll find a tropical oasis with large gazebo on pavers with passion fruit vines, citrus, mango and banana trees along with oth tropical plants, including grape trellis and vegetable garden. Not to mention, there is a massive garage complete with epoxy floors and a space for your RV! The beautiful community offers a pool, spa, children's playgrounds, and more. Don't miss this one!

3331 W Hemingway Lane Anthem, AZ 85086

$710,000
4 Beds
4 Baths
3,366 SqFt
Status Active
MLS # 6771562
Property Type Single Family Residence
Price Type --
Welcome to Anthem living at it's finest! This 4bed+Den/4bath/3,366 sqft home has everything you need! Upon entering, you're greeted by soaring ceilings & warm neutral tones. Celebrate holiday cooking in the updated kitchen which blends contemporary style w/ modern farmhouse finishes. The pool is ready for the last days of summer & the gas fireplace is primed for those upcoming cool winter nights. Fresh carpet upstairs & all three guest bedrooms conveniently have access to their own bathrooms. Turn the loft into your perfect game or theatre room. Anthem offers a community center w/ gym, indoor/outdoor basketball, pickleball, rock climbing wall, water park, three fishing lakes, skate park..the list goes on. Don't miss your chance to own your dream house in your dream neighborhood!

1835 E Joy Ranch Road Phoenix, AZ 85086

$710,000
3 Beds
2 Baths
1,635 SqFt
Status Active Under Contract
MLS # 6710667
Property Type Single Family Residence
Price Type --
Assumable 4.75% loan w/ this horse property on a fully fenced 1.25 acre lot w/mountain views. Voted BEST ON TOUR for the desert hills area. This North facing, true split floor plan 3 bed & 2 bath home boasts vaulted ceilings, updated kitchen, freshly remodeled bathrooms, new interior paint, new tile flooring, Water heater & RO System & 3-Stage whole house water filtration System. The kitchen has SS appliances, granite countertops, abundant cabinetry & overlooks the great room, tons of natural light & an oversized dining area. Every inch of this home exudes comfort & style. Outside, discover the covered patios, 6- 12x12 horse mare motel, arena, tack room/shop & RV parking w/50 amp connection. NO HOA! Steps away from state preserve land. Don't miss this opportunity to own piece of land!

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