#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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19447 S 209th Place Queen Creek, AZ 85142

$699,995
3 Beds
3 Baths
2,352 SqFt
Status Active
MLS # 6747733
Property Type Single Family Residence
Price Type --
Discover this stunning, highly upgraded 3 bed + den, 3 bath single level home in the desirable Gateway Quarter community. With its modern design, luxurious amenities, and serene backyard oasis, this home offers the perfect blend of style, comfort, and convenience. Step inside to be greeted by a spacious and open floor plan featuring a gourmet kitchen with stainless steel appliances, granite countertops, and a waterfall edge. The master suite offers a walk-in closet, dual vanity, and a spa-like step-in shower with a rain head. Secondary bedrooms, one with an en suite bath, provide ample space for family or guests. Modern tile floors throughout, plantation shutters, and executive height vanities with quartz counters complete the interior. Unwind in your private backyard retreat featuring a covered patio, a self-cleaning SALTWATER pool (complete with a water feature), and palm and citrus trees. The property includes full irrigation for easy care and backs up to a wash with no rear neighbors! This home is highly upgraded and offers many modern amenities, including a new A/C unit installed in August '23. Conveniently located near Phoenix-Mesa Gateway Airport, golfing, shopping, and dining, this home provides the perfect blend of comfort, style, and convenience.

3911 W Talc Drive San Tan Valley, AZ 85144

$699,995 - 4Br/4Ba -  for Sale in The Preserve San Tan - Unit 2b, San Tan Valley
Open House
$699,995
4 Beds
3.5 Baths
2,900 SqFt
Status Active
MLS # 6768170
Property Type Single Family Residence
Price Type --
Introducing an exceptional home in the Preserve at San Tan - Sonoran Collection. Step inside and be greeted by the elegance of a well-equipped kitchen with upgraded cabinets, quartz countertops, KitchenAid stainless steel appliances, and a large center island. The casual dining is adjacent to the kitchen and great room. There's a bonus room near the secondary bedrooms. The primary bathroom includes a walk-in shower, dual sink vanity, and walk-in closet. The expansive covered patio, accessed through a12' multi-panel stacking door is ideal for outdoor living. Additional features include a tankless hot water heater, upgraded flooring, a soft water loop, an upgraded insulation package, low voltage upgrades, and more!

702 E Coho Drive San Tan Valley, AZ 85140

$699,990
4 Beds
3.5 Baths
2,744 SqFt
Status Active
MLS # 6752379
Property Type Single Family Residence
Price Type --
MOVE-IN Est. Nov. 2024 - Stunning home with 4 bedrooms and 3.5 baths. Enjoy a convenient home office off the foyer, a cozy media room with double barn doors, and a stylish kitchen with dark blue cabinets, quartz counters, and stainless-steel appliances. The spacious great room boasts a 12ft sliding door and vaulted ceiling. The serene primary suite includes a resort-like bath and walk-in closet. Plus, an activity room between two bedrooms is perfect for gaming and fun. The 3-car tandem garage provides ample storage for toys. This home is a perfect blend of elegance and functionality! ^^Homes have been significantly discounted and have the option of short/long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply. Additional eligibility and limited time restrictions apply

683 E Grayling Road San Tan Valley, AZ 85140

$699,990 - 4Br/3Ba -  for Sale in Edgewood Estate, San Tan Valley
New
$699,990
4 Beds
3 Baths
2,513 SqFt
Status Active
MLS # 6781142
Property Type Single Family Residence
Price Type --
Move In Before the Holidays to Your Dream Home at Edgewood Estates, ideally located near Queen Creek's commuter routes, shopping, & dining. This stunning, home is crafted with our curated Classic Look interior selections. The kitchen is designed to impress, featuring stacked Grey cabinets, Carrara Morro quartz countertops, a sprawling island, and elegant pendant lighting ideal for entertaining. The open great room extends effortlessly through a 15' multi-slide door to a huge, covered patio, ideal for seamless indoor-outdoor gatherings. Retreat to the secluded primary suite, with a coffered ceiling and a lavish primary bath featuring a double vanity and a freestanding tub. The Extra Suite Plus with private entrance, sitting are and bedroom is perfect for multigenerational living or guests. ***Homes have been significantly discounted and have the option of short/long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.***

25919 N 23rd Avenue Phoenix, AZ 85085

$699,990
3 Beds
3 Baths
2,618 SqFt
Status Active
MLS # 6718323
Property Type Single Family Residence
Price Type --
This Spanish style Pinnacle floorplan with covered front porch and pavers offers a 2-story Floorplan with 2618 square feet, 4 bedrooms, 3 bathrooms and a 2-car garage. This is our only floorplan with a bedroom and full bathroom on the main floor. Open concept great room with kitchen featuring stainless steel appliances including 5 burner gas cooktop, under cabinet microwave/hood combo, wall oven and microwave and dishwasher against charcoal stained shaker style cabinet. Cabinet extras throughout including trash/recycling pullout, champagne bronze cabinet hardware, and more. Quartz countertops and tile backsplash in kitchen. 8' interior doors, 4-1/4'' baseboards throughout. 4-foot gate at rear of side yard. Gas stub for BBQ at side yard. Modified master bath; includes walk-in shower with linen closet and executive height vanities with shaker style cabinets. Shower to include clear glass enclosure and cultured marble surrounds. Electrical upgrades include ceiling fan prewire, separate switch pendant light prewires over kitchen island, upgraded vanity lights and more. 6x36 ceramic tile throughout first floor, and in laundry and secondary bath. Primary bathroom to include 12x24 tile. Upgraded carpet and pad on stairs, in loft and bedrooms. Low voltage and plumbing upgrades throughout. And so much more! Union park offers Tree-lined streets, pedestrian-friendly sidewalks and a 5,500 sf recreation center with resort style pool an kiddie pool, shaded ramadas, parks, gathering areas, pickleball courts and basketball. Close to I-10, 101 and 303. Walking distance to restaurants, movies, entertainment and shopping.

42151 N Golden Trail San Tan Valley, AZ 85140

$699,990 - 4Br/3Ba -  for Sale in Edgewood Estates, San Tan Valley
Open House
$699,990
4 Beds
2.5 Baths
2,838 SqFt
Status Active
MLS # 6744217
Property Type Single Family Residence
Price Type --
Est. Completion Nov 2024 - Welcome to Edgewood Estates located in the Queen Creek Corridor. This Frankfurt plan is designed with our Classic 'Looks' interior designs! Effortlessly create culinary delights in the open kitchen featuring exquisite Quill-stained maple cabinets, quartz counters and upgraded stainless-steel Bosch appliances. The great room's extra-large sliding glass door seamlessly brings the outdoors in. Enjoy versatile spaces with an activity room and home office, perfect for entertaining, relaxing, or working from home. Indulge in the Primary Suite, with designer bath. ^^Homes have been significantly discounted and have the option of short/long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply. Additional eligibility and limited time restrictions apply.

7248 E Tasman Street Mesa, AZ 85207

$699,990
5 Beds
3 Baths
2,658 SqFt
Status Active Under Contract
MLS # 6759584
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the highly desirable Las Sendas community in Mesa, AZ! This stunning 5-bedroom, 3-bathroom property offers an ideal blend of luxury, comfort, and functionality, nestled in one of Mesa's most sought-after neighborhoods with beautiful desert surroundings and fantastic amenities. Step inside to a bright, open floor plan with high ceilings and an abundance of windows that flood the home with natural light. The large loft upstairs adds versatility, perfect for a home office, game room, or media space. Every corner of this home feels airy and expansive, offering the perfect layout for both entertaining and everyday living. The beautifully renovated kitchen is the heart of this home, featuring sleek quartz countertops, stainless steel appliances, a large island, and ample cabinet space. The open-concept design seamlessly connects the kitchen to the dining area and family room, making it perfect for hosting gatherings or enjoying casual family meals. One of the most distinctive features of this home is the private bedroom on the first floor, complete with a separate garage entrance. Whether for guests, in-laws, or a home office, this flexible space offers convenience and privacy, setting it apart from other homes in the area. Upstairs, the spacious primary suite offers a tranquil retreat with large windows, ample space, and a spa-like en-suite bathroom with dual vanities, a soaking tub, and a renovated separate shower. The additional bedrooms are nicely sized, each featuring large closets, new carpeting, and plenty of natural light, offering endless possibilities for family, guests, or hobbies. Living in Las Sendas provides access to a wealth of amenities, including multiple pools, tennis courts, parks, and miles of hiking and biking trails. Golf enthusiasts will appreciate the nearby award-winning Las Sendas Golf Club, offering a stunning course with breathtaking views. With the Tonto National Forest and Salt River just minutes away, outdoor adventures are always close at hand. This home's prime location offers easy access to top-rated schools, shopping, dining, and major highways. Whether commuting or enjoying the best of the East Valley, you'll find everything you need within reach. Don't miss the chance to own this exceptional home in one of Mesa's most desirable communities.

10229 N 177th Drive Waddell, AZ 85355

$699,990 - 4Br/3Ba -  for Sale in Zanjero Pass Phase 2, Waddell
Open House
$699,990
4 Beds
2.5 Baths
3,010 SqFt
Status Active
MLS # 6779823
Property Type Single Family Residence
Price Type --
This NEW Construction home is on an oversized premium lot! This 4 bedrooms, 2.5 bathroom, and 3 car garage home is estimated to close march/april 2025! Our Sedona features an open concept with beautiful natural light, a modern neutral color palette, offering two-tone 42'' shaker cabinetry, upgraded quartz counter tops, a large gourmet kitchen , and 9' ceilings throughout. You'll love our smart home features, as well as dual pane low-E windows, Ceiling fan pre-wires, under cabinet lighting in the kitchen, and window coverings. The exterior features front yard desert landscaping, a covered patio and private backyard. Located off the 303, this community is near shopping/schools. ***Photos are not actual home features colors and options may vary.

5332 W Taro Lane Glendale, AZ 85308

$699,977
5 Beds
3 Baths
2,398 SqFt
Status Active
MLS # 6763205
Property Type Single Family Residence
Price Type --
WOW Countless UPGRADES and no HOA. This fully remodeled 5-bedroom, 3-bathroom home offers an impressive amount of features and move-in-ready home. Upon entering, you're greeted by high soaring vaulted ceilings that add an open and airy feel to the space. Freshly painted, the home has new flooring throughout, contributing to its fresh, clean aesthetic. The kitchen features newer stainless steel appliances and quartz countertops. The layout includes a formal dining room, a separate living room, and a family room, providing plenty of space for relaxation or entertainment. A versatile loft area also adds extra living space, while the fireplace in the family room brings warmth and charm. Four spacious bedrooms are located upstairs, including a massive master bedroom with vaulted ceiling Four spacious bedrooms are located upstairs, including a massive master bedroom with vaulted ceilings. The master bathroom is equally large, featuring dual sinks, a separate tub and shower, and a generous walk-in closet. The fifth bedroom downstairs would make a perfect office, den, or crafts roomits location provides privacy and convenience. The backyard is a true outdoor retreat. It features a diving pool surrounded by an expansive cool deck, perfect for lounging or entertaining. The built-in BBQ, create an ideal space for hosting outdoor gatherings. The covered patio adds shade and comfort for relaxing in the north/south-exposed backyard. The property faces a natural wash with a scenic walking and biking path, offering peace and tranquility. Best of all, this gem of a home comes with no HOA, giving you even more freedom to enjoy your space! Must see!!

42817 N 8th Street New River, AZ 85087

$699,977
3 Beds
2 Baths
2,200 SqFt
Status Active
MLS # 6686573
Property Type Single Family Residence
Price Type --
Huge Price Correction! Be the envy of all your friends as you live the life of luxury with Amazing views and a remodeled home. This beauty is situated on a serene hill with acreage & no surrounding neighbors allowing for privacy. Each room offers captivating panoramic views, creating a picturesque retreat. This open floor plan includes fresh paint inside & out, new tile flooring, new plush carpeting, new windows, newer roof & AC, and much more. NO HOA. Means freedom to personalize your outdoor space. Additionally, the 4 car garage & abundant driveway parking for 6+ vehicles provides ample room for all your toys including RV's & boats. Embrace the pinnacle of luxury in this extraordinary & unique home! Professional pictures cominfg soon.

5633 E Scarlet Street Mesa, AZ 85215

$699,970
3 Beds
2.5 Baths
1,825 SqFt
Status Active
MLS # 6771089
Property Type Single Family Residence
Price Type --
Quality single-level home featuring 3 bedrooms, 2.5 baths, and an extended great room with a 20' wall of glass. Includes KitchenAid gas appliances, a spacious shower, regal white cabinets, modern tile for the entire house, and satin nickel hardware. Estimated completion in October. Enjoy a south-facing backyard with stunning open space behind for added privacy. Reserve at Red Rock boasts incredible amenities like a heated beach entry lap pool, fitness facility, pickleball courts, corn hole, basketball courts, banquet hall, and outside concert pavilion. Gated master planned community is unrivaled with well-lit structured grand entries featuring towering palm trees.

22931 E Mayberry Road Queen Creek, AZ 85142

$699,953
4 Beds
3 Baths
2,407 SqFt
Status Active
MLS # 6629333
Property Type Single Family Residence
Price Type --
You'll love this very charming ''Acacia'' plan. . The home includes a Gourmet Kitchen w/ SS Chimney Hood, Beautifully upgraded 42'' cabinets, Granite C-top & Tile backsplash,, Tankless Water Heater, Service Garage Door , Atrium Door to patio, ''16 SEER RATING FOR ''AC'' ENERGY STAR HOME ! BARNEY FARMS the newest Premiere Master Planned Community in Queen Creek, w/ RESORT like atmosphere, LAKE COMMUNITY w/ an large Amenity Center, fountains , 2 large Community Pools, Aquatic Center, Pickle Ball, Bocce Ball, Corn Hole, Sand Volleyball, full court basketball , fishing ''catch and release'' kayaking, canoeing, walking trails thru-out. Barney Farms also has KMB K-6 School in the community. A MUST SEE !!

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