#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

9240 N 101st Street Scottsdale, AZ 85258

$700,000

2 Beds

2 Baths

1,603 SqFt

Status Active

MLS # 6778276

Property Type Single Family Residence

Price Type --

Discover spacious, light-filled living spaces that blend comfort and style. This fully detached townhouse boasts a thoughtful layout, ideal for relaxation and entertainment. Welcome to this delightful 2 bed/2bath home with an extra den/office space with built-ins. Tons of natural light pours in the bright living room with vaulted ceilings. Enjoy the refreshed fireplace, or check out the charming patio. A guest room offers a lofted bed for added charm. Granite countertops, neutral colors, and fresh paint! Brand new flooring throughout, shutters, a breakfast nook and low maintenance yard. Community pool and spa, close to shopping and restaurants! Front yard is maintained by HOA! Enjoy modern upgrades, ample storage, and community features that offer a blend of luxury and convenience.

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1717 E Morten Avenue Unit 59 Phoenix, AZ 85020

$700,000

3 Beds

3 Baths

1,735 SqFt

Status Active

MLS # 6659431

Property Type Townhouse

Price Type --

Sitting near the base of Phx Mtn. Preserves, this gated community rests alongside a quiet neighborhood and access to parks & outdoor trails. Natural light fills the home thanks to END UNIT location providing unobscured exposure to the south and west. Spacious middle floor offers beautiful kitchen with quartz countertops centered between the living and dining area. Multiple windows line the wall affording sunset views from inside or from large patio. Bedrooms and full baths are on top floor along with laundry. Terrific city lights & mountain views from master suite. Ground floor offers flex space to be used how you see fit! Access 2 car garage with storage racks and private patio w/ bbq & turf. Ground floor and middle floor each have powder room

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6928 N Citrus Road Waddell, AZ 85355

$700,000

4 Beds

2.5 Baths

2,200 SqFt

Status Active

MLS # 6678917

Property Type Single Family Residence

Price Type --

Back on the Market. Buyers couldn't preform! New interior and exterior paint and all new carpet throughout the home. This dream home is nestled on 1.24 acres of serene landscape with breathtaking mountain views. This move-in ready residence boasts a spacious great room, perfect for entertaining or cozy nights by the fireplace. The expansive primary bedroom provides a peaceful retreat, while the meticulously landscaped front and back yards offer lush greenery and ample space for outdoor enjoyment or making the perfect home for your horses. Don't miss the opportunity to make this picturesque oasis your own and prepare to fall in love with your new home.

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127 E Garfield Street Tempe, AZ 85288

$700,000

3 Beds

2 Baths

2,313 SqFt

Status Active

MLS # 6767925

Property Type Single Family Residence

Price Type --

Here's your chance to own this beautifully upgraded 3-bedroom, 2-bath home in vibrant Tempe. Boasting 2,313 sq. ft. of living space on a spacious 7,684 sq. ft. lot, this home offers modern upgrades and a prime location near Old Town Scottsdale, freeways, dining, and entertainment. Recent updates include new energy efficient windows (2020), a tankless water heater (2023), Frigidaire Gallery kitchen appliances (2023), and a kitchen with crown molding, backsplash, and a custom wine rack (2024). Both bathrooms have been tastefully updated with new fixtures, sinks, and hardware, and the home features a large game room, a separate laundry room, a large covered patio, putting green, and an RV gate. It's also located in a very desirable neighborhood with no HOA!

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38913 N 21st Avenue Phoenix, AZ 85086

$700,000

4 Beds

2 Baths

1,711 SqFt

Status Active

MLS # 6720420

Property Type Single Family Residence

Price Type --

Beautiful Desert Hills home, Inside, you'll find a cozy haven featuring 4 bedrooms and 2 bathrooms, providing ample space for both relaxation and rejuvenation. With two separate entrances to the property, you'll enjoy seamless access and the flexibility to accommodate your RVs, trailers, horses, and more. Located on a private 1.193 acre lot with gorgeous territorial and mountain views! It has horse corrals with electricity and water and is completely fenced off. The property features completely fenced acreage with wide gates for easy access.

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3032 E Sagebrush Street Gilbert, AZ 85296

$700,000

4 Beds

3 Baths

2,000 SqFt

Status Active

MLS # 6738318

Property Type Single Family Residence

Price Type --

Welcome to the beautiful community of Warner Groves at Morrison Ranch! Like all Morrison ranch neighborhoods you are surrounded by lush greenbelts, parks and playgrounds, the charm of white picket fences, and shade trees that are now maturing into their full splendor. We are offering a lovely, move-in ready one story home with 4 bedrooms and 2000 square feet of living space. The home features 3 full baths, upgraded cabinets, large granite kitchen island, new exterior paint, and large Primary Bedroom. Located in the heart of Gilbert, your new home is conveniently located near the San Tan shopping area, multiple healthcare facilities, highly rated schools, and transportation. With few homes available in this desirable neighborhood, we welcome you to come and see it before it's gone!

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8640 E Indigo Street Mesa, AZ 85207

$700,000

4 Beds

3 Baths

2,359 SqFt

Status Active

MLS # 6745687

Property Type Single Family Residence

Price Type --

Mountain Bridge, 4 Bedroom 3 bath home is loaded with upgrades including lighting, French doors with glass panels, surround sound, chef's kitchen including stainless steel appliances, breakfast bar, pantry, tile backsplashes and rich granite counter tops. Mountain Bridge community is loaded with amenities including large pool & spa. tennis, fitness club and more all within walking distance

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3080 E Desert Broom Place Chandler, AZ 85286

$700,000

4 Beds

2.5 Baths

2,258 SqFt

Status Active

MLS # 6744951

Property Type Single Family Residence

Price Type --

This gorgeous SINGLE LEVEL DeLeon floorplan home in desirable Layton Lakes. It features 4 large bedrooms, open den, 2.5 baths, 10ft ceilings, kitchen island, and 3 car garage on a culdesac lot. Stunning plank tile flooring-everywhere except the bedrooms. Gourmet kitchen with high-end expresso cabinets with 42'' uppers, upgraded granite counters in kitchen, stainless Frigidaire appliances including gas range! Speaker prewires in great rm and primary bedroom including the back patio! Swim spa and artificial turf in back. Great Chandler location in spectacular Layton Lakes with tennis courts, splash pad, walking trails, acres of parks!

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20912 N 39th Place Phoenix, AZ 85050

$700,000

4 Beds

2.5 Baths

2,041 SqFt

Status Active

MLS # 6757363

Property Type Single Family Residence

Price Type --

Welcome Home to this beautiful move-in ready Desert Ridge area 4 bed, 2.5 bath cul-de-sac home. $54,000 in upgrades over the last two years. New Roof, New AC/Heating System, Home Painted in and out, new carpet, new bath vanities in upstairs baths with quartz counters, new sinks and faucets, nearly every light and ceiling fan updated, new blinds, new toilets, new sink and faucet in kitchen, new sprinkler system front and back and new artificial turf in front and backyards. Located minutes from shopping, dining & entertainment at Desert Ridge and City North. Quick access to the 101 and 51. Great PV Schools. Kitchen is open to the breakfast area and large family room overlooking tremendous backyard. Primary bedroom boasts a big walk-in closet and full bath with separate tub and shower.

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10605 W Catalina Drive Avondale, AZ 85392

$700,000

4 Beds

2.5 Baths

2,747 SqFt

Status Active

MLS # 6757329

Property Type Single Family Residence

Price Type --

Large corner lot with just 1 neighbor! The home offers 4 bedrooms, 2.5 bathrooms & more than 2,700 sq ft of livable space. Throughout you will notice the plank tile floors, neutral 2 tone paint, 9' ceilings/ 8' doors, 2'' faux wood blinds & ceiling fans in every room. The kitchen features gray shaker cabinets (soft close & dove tail drawers), under cabinet lighting, Newer SS appliances (Gas stove & fridge included), Reverse osmosis, granite countertops & 2 pantries. The insulated RV garage is every man's dreams with epoxy flooring, lots of outlets, garage cabinets, sink & RV hookups (220 outlets/ cleanout). Large ¼ acre lot with low maintenance landscaping, covered patio stretches the entire length of the house, 2 tough sheds, flood lights, cameras & RV gate with lots of room for parking. Nearby you have the plenty of shopping at Tanger Outlets/ Park West. Entertainment at West Gate, State Farm Stadium, Desert Diamond Casino & Top Golf. Soon VAI Resort & Mattel adventure park will be complete. All of this within 5 miles! I10 & 101 freeways are just 1 mile away!

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7904 E Pepper Tree Lane Scottsdale, AZ 85250

$700,000

2 Beds

2 Baths

1,432 SqFt

Status Active

MLS # 6772903

Property Type Townhouse

Price Type --

Welcome to your dream home! Furnishings convey with sale with a list price offer. This beautifully remodeled townhome showcases exquisite attention to detail, offering a perfect blend of modern elegance and comfort. Step into the stunning gourmet kitchen, featuring luxurious quartz countertops, striking black and gold fixtures, and a sleek subway tile backsplash. With brand new high-end appliances and a spacious breakfast bar, it's a chef's paradise. Enjoy the warmth of the cozy fireplace in the inviting living area, complemented by high-end laminate flooring and soaring vaulted ceilings. The tasteful gold accents throughout add a touch of sophistication. Plus, the option for furniture to convey makes moving in even easier. Don't miss your chance to make this remarkable space yours!

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14103 S 44th Avenue Laveen, AZ 85339

$700,000

3 Beds

3 Baths

2,975 SqFt

Status Active Under Contract

MLS # 6698195

Property Type Single Family Residence

Price Type --

Basement home with guest house/shop offers flexibility for various living/working arrangements! Perfect for horses, hobby enthusiast, multi gen living, basement offers a separate living level along with the detached building for extended family or vacation rental. Ideal for small business 1200sf unit located across wash with bridge, keeps home private and work separate! Think of the savings not having to pay for an additional work space or more than one home! NO HOA and centrally located close to freeway and access to the entire valley! Set at the base of the mountain/preserve, perfect quiet, peaceful setting to enjoy sunsets and natural desert life! This multifunctional property is for those nature lovers and those not wanting cookie cutter living. Chef Kitchen. Modernized interior. Located in the county with lower property taxes. If more space is needed, lots north and south are available! See MLS Listing No's: 6708136 and 6708005

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