#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

1911 E Olive Court Gilbert, AZ 85234

$700,000

3 Beds

3 Baths

2,886 SqFt

Status Active Under Contract

MLS # 6704501

Property Type Single Family Residence

Price Type --

$65K BELOW APRAISD VALU! BACK ON THE MARKET! Buyers failed to fund. This beautiful 3 bedrm home was built with your family in mind! Nestled in a quaint cul de sac in Sonoma Ranch, just walking dist. from the Elem School. Extrmly lg back yard offers plenty of possibilities for the kids & they'll spend countless hours in the newly resurfaced pool with new cool deck and a new variable speed pump all redone in 2023. Enjoy the cool evenings and beautiful sunrises on the lg balcony directly off your master bedroom. The master also boasts dual walk-in closets! The loft area upstairs makes for a fun hang-out/study area for the kids and the fmly room has a cozy gas fireplace for those cool holiday evenings! The 3 car garage offers lots of storage and the chef will appreciate the gas kit appliance

View Property

5424 N 186th Drive Litchfield Park, AZ 85340

$700,000

4 Beds

3 Baths

2,823 SqFt

Status Active Under Contract

MLS # 6721346

Property Type Single Family Residence

Price Type --

Check out this amazing 4 bed, 3 bath residence w/beautiful mountain views, now for sale in Savannah! Great curb appeal, a low-care landscape, a 5 car garage with Hydraulic car lift & rear entry, RV gate, and a welcoming front porch are just the beginning! Discover a cozy living area and a family room boasting soft carpet in all the right places, an entertainment niche, a warm fireplace, and custom palette throughout! The luxurious eat-in kitchen is comprised of wood cabinetry w/granite counters, recessed lighting, mosaic tile backsplash, high-end appliances such as a wall oven, a walk-in pantry, a lovely island, and a breakfast bar. End your busy day in the primary bedroom, boasting a walk-in closet and a lavish ensuite w/dual vanities. Finally, the wonderful backyard includes a covered patio, built-in BBQ, extended paver seating area, lush natural turf, 2 pergolas, and a sparkling blue pool! What are you waiting for? Act now!

View Property

7710 E Gainey Ranch Road Unit 245 Scottsdale, AZ 85258

Open House

$700,000

2 Beds

2 Baths

954 SqFt

Status Active

MLS # 6752928

Property Type Townhouse

Price Type --

Experience life in a beautifully renovated 2 Bedroom 2 Bathroom condo in the heart of Scottsdale behind the gates of Gainey Ranch. Enjoy a completely stripped down to the studs remodel with an open concept Kitchen Dining and Living Room combination. 9-foot ceilings with wood-look. Aquaguard laminate flooring throughout. Spacious Main Bedroom with fully renovated walk-in closet Main Bathroom combination. Second bedroom with remodeled built-in desk in addition to a full adult soaker tub in the second bathroom. Detached single car garage with Electric vehicle charger installed. Minutes from TPC, Westworld, Old Town Scottsdale, Scottsdale Fashion Square, and Kierland/Scottsdale Quarter. A full remodel completed in 2022 on the community center with a state of the art fitness center, wine room, covered patio, and entertaining space for parties. Enjoy the community lap pool and the luscious landscape that surrounds this community. Gainey Ranch is steps away from the Shops at Gainey, which provides many fun dining and social activities. In addition, enjoy a round of golf at the Gainey Ranch Golf Club or a day at the Hyatt Gainey Ranch spa.

View Property

8361 E Via De Viva -- Scottsdale, AZ 85258

Open House

$700,000

2 Beds

2 Baths

1,987 SqFt

Status Active

MLS # 6705758

Property Type Townhouse

Price Type --

McCormick Ranch single story townhome in PRIME Del Norte Gardens subdivision complete with community pool, tennis/pickleball and plenty of greenbelts throughout the Ranch. This home has been lovingly cared for and presents in a true Arizona Southwest fashion with custom hand painted tiles, saltillo flooring in main areas, wonderful covered patio spaces. A perfect lock and leave winter retreat. Updates include: AC (2022), water heater (2016), roof (2017). Enjoy the McCormick Ranch lifestyle!

View Property

5113 N 79th Place Scottsdale, AZ 85250

Open House

$700,000

2 Beds

2 Baths

1,638 SqFt

Status Active

MLS # 6773719

Property Type Townhouse

Price Type --

Enjoy stunning Camelback Mountain views from the peaceful front courtyard of this ideal Scottsdale townhome, located in the desirable Scottsdale Monterey neighborhood. Just a short walk to Chaparral Park, where lush greenbelts and a serene lake await, this updated, open-concept home offers a perfect blend of tranquility and convenience. Inside, soaring ceilings and an inviting kitchen with stainless steel appliances create a welcoming space. A bonus office off the kitchen also offers mountain views, making it the perfect spot for work or relaxation. The spacious primary bedroom opens directly onto a private exterior patio, and the en-suite bath features dual vanities and a sleek glass shower. Nestled close to Old Town's entertainment district and Fashion Square, this townhome is your your serene retreat in the heart of Scottsdale. Delight in all the area has to offer on your free time or stay in and enjoy the community Pool and spa.

View Property

2911 E Cortez Street Phoenix, AZ 85028

Open House

$700,000

3 Beds

2 Baths

1,912 SqFt

Status Active

MLS # 6778217

Property Type Single Family Residence

Price Type --

Nestled in the heart of North Phoenix's beloved ''Sheaborhood,'' with close proximity to the Phoenix Mountain Preserve and the reimagined Paradise Valley Mall, this beautifully remodeled 3-bed, 2-bath home offers comfort and style. With 1,912 sq ft of living space plus an additional 200 sq ft flex room (not included in the total square footage), this home offers plenty of room for all your needs. As you step inside, you're welcomed by a spacious, open floor plan that invites both daily relaxation and effortless entertaining. Imagine preparing meals in the stunning kitchen, complete with brand-new appliances, and relaxing in the large backyard, where a covered patio offers the perfect spot to unwind or host gatherings. Each room is designed with ample space, bringing in natural light. Additional amenities include a new HVAC unit and an EV hookup in the garage.

View Property

6504 N 14th Place Phoenix, AZ 85014

Open House

New

$700,000

4 Beds

2.5 Baths

1,724 SqFt

Status Active

MLS # 6780594

Property Type Single Family Residence

Price Type --

Gorgeous, extensively remodeled four bedroom home located in the heart of North Central Phoenix! This immaculate residence has been completely upgraded with stylish, high-quality finishes throughout. Step inside to find soaring ceilings, elegant wood-look tile flooring, and abundant natural light that flows through every room. Thoughtful touches like plant shelving, recessed lighting, and custom plantation shutters add to the charm.The spacious eat-in kitchen is perfect for entertaining, featuring quartz countertops, stainless steel appliances, a beautiful tile backsplash, and a large island with breakfast bar. The sunny primary retreat offers a private ensuite with stunning park-like views to the West, custom quartzite countertops, a walk-in shower, and a generous walk-in closet. Over the past four years, nearly every surface has been upgraded. The home includes a Samsung washer, dryer, stove, microwave, refrigerator, and dishwasher, as well as new tile flooring throughout. Custom steel security doors, new baseboards, recessed lighting fixtures, and fresh paint inside and out. Additional features include new Pella energy-efficient windows in 2024, ceiling fans in every room, custom cabinetry in the garage, new AC and tankless water heater in 2022, and epoxy garage flooring. Outside, the home boasts artificial turf, updated landscaping with lighting, and stucco wall exterior fencing for a low-maintenance, polished look. The community offers a sparkling pool, spa, green spaces, and is located in an ideal North Central Phoenix neighborhood, close to the 51, Biltmore, Arcadia, and a wide variety of shopping, dining, and nightlife. Located in the highly regarded Madison School District, with beautiful sunset views among mature trees, this home provides the perfect blend of luxury and convenience. This exceptional home won't last long, sodon't miss your chance to experience it for yourself!

View Property

4335 E Clifton Avenue Gilbert, AZ 85295

Open House

New

$700,000

3 Beds

3 Baths

1,891 SqFt

Status Active

MLS # 6780303

Property Type Single Family Residence

Price Type --

This home has it all—modern upgrades, energy efficiency, and exceptional style. It looks and feels like a model home! When it was built, the sellers put a lot of thought into the energy features and the aesthetics. ($90K in upgrades with the builder) Step inside to a spacious great room with a 16-foot atrium glass door filling the space with natural light and leading to an incredible backyard oasis. The upgraded gourmet kitchen is a chef's dream, featuring luxurious split-color cabinets, quartz countertops, and GE matte black cafe appliances, adding both elegance and functionality. The large island, farm sink, and pantry ensure you have everything you need to entertain in style. Tray ceilings elevate the main living areas, adding architectural interest throughout. The master bath is designed for relaxation, featuring an upgraded shower, dual sinks, and tasteful finishes. Plantation shutters offer timeless charm and privacy, while the DuPure reverse osmosis water filtration system and tankless water heater provide convenience and efficiency. Window throughout are dual-pane Low-E for comfort and savings, complemented by an energy-efficient SEER 16 A/C unit. The outdoor space is a showstopper. The backyard was thoughtfully designed just two years ago with a $100,000 investment in a pool with in-floor cleaners, artificial turf, and pavers. A covered patio offers shade, making this low-maintenance backyard perfect for relaxation and gatherings. This exceptional property is a must-see to fully appreciate all its premium features!

View Property

20709 N 37th Way Phoenix, AZ 85050

Open House

$700,000

4 Beds

2.5 Baths

2,041 SqFt

Status Active

MLS # 6761515

Property Type Single Family Residence

Price Type --

***Perfect Desert Ridge location in the POPULAR WILDCAT RIDGE!!!*** SHOWS LIKE A MODEL! Your friends and family will be blown away when they see the resort-style backyard that features a built in BBQ island gas grill, gas fire-pit with sitting area, all new patio pavers, dramatic landscape lighting and just about the greenest & easiest to care for grass (artificial) in all of AZ! But wait till' you see the inside! Pride of ownership is highlighted throughout this 4 bedroom/2.5 bath stunner, with all brand new interior & exterior paint, 2024 HVAC system, an abundance of new designer finishes, updated flooring, and so much more! Don't miss this move-in ready beauty and come tour today before it's gone!

View Property

2706 E Gooseleg Way Lakeside, AZ 85929

$699,999

4 Beds

2 Baths

2,582 SqFt

Status Active

MLS # 6629011

Property Type Single Family Residence

Price Type --

Beautifully spacious 2582 sq. ft. home on 2/3 acre, covered with tall pines. NO HOA! Walking distance to Rainbow Lake! Quiet neighborhood on private cul-de-sac in the heart of Lakeside close to the Rim w/ plenty of wildlife! 3 bed 2 bath, multi-level energy efficient home with central A/C & natural gas heater Lots of extras! Ready to move in. Reinforced foundation with spray foam on all exterior walls. 780 sq. ft. 2 ½ car garage, Tongue and groove wood ceiling & Trex decking on porches, storage shed under cover of back porch, Weatherproof plugs on eaves, waterproof luxury vinyl plank flooring, upgraded Whirlpool appliances, ''Smart'' gas stove, and whole home tankless water heater. Master bath has an extra-large jet tub and split vanity area. Large walk-in master closet. Wood fireplace

View Property

47 N 3263 -- Vernon, AZ 85940

$699,999

3 Beds

2 Baths

2,279 SqFt

Status Active

MLS # 6694069

Property Type Single Family Residence

Price Type --

Calling all equine/nature enthusiasts dreaming of owning your own ranch on 10 acres while enjoying the wildlife, peace & tranquility that this beautiful property has to offer. The wonderful home 3 large bedrooms, 2 baths w/ huge loft with built in beds and an oversized 2 car garage. It was beautifully designed from the pole barn on the property and offers vaulted ceilings, new beautiful quartz counters throughout, a spacious kitchen with newer s/s appliances, large island with pantry, nice sized laundry room and a gorgeous fireplace in the great room that keeps the home cozy and warm. The master bedroom has a full master suite with a large walk-in shower & closet and its own sep exit with gorgeous views. This property also features a Barn with utilites, and hay storage w/ RV dump. This property also features a Barn with utilities, and hay storage w/ RV dump.The Quonset hut has room for your RV or Horse trailer and is pre-plummed for a bathroom with water and electric near by. This property has it all including a green house with water and power and an adorable 50+ capacity chicken coop with power as well as bunny hutch. The Koi pond and green house are salso set up for aquaponics. You will enjoy the views from the patios or the Pergola and will also love the night stargazing. This property is one of kind and will not last. Please call to schedule your showing today. Additional 10 acres for sale in separate listing.

View Property

4206 W Porter Lane Queen Creek, AZ 85142

$699,999

4 Beds

2.5 Baths

2,511 SqFt

Status Active

MLS # 6745615

Property Type Single Family Residence

Price Type --

BRAND NEW HOME on a HUGE 1.2-acre corner lot is now complete! This beauty offers 4 beds, 2.5 baths, and an oversized 3-car garage. Comes with front yard landscaping w/artificial turf. The home has abundant natural light, neutral paint, modern light fixtures, tall ceilings, and wood-look tile flooring in common areas. The spacious open layout makes entertaining easy, featuring multi-sliding doors merging the inside/outside activities! The gourmet kitchen has SS appliances w/wall ovens, quartz counters, subway tile backsplash, white shaker cabinetry, a walk-in pantry, and a large waterfall island. All bedrooms are complete with plush carpet & walk-in closets! Don't wait. This house is move in ready!! Relax on your back-covered patio while enjoying the tranquil mountain views! The expansive backyard gives you so much room for your creative ideas. Bring your toys, RVs, horses, & other animalsthis property has plenty of space! Don't miss this fantastic opportunity!

View Property