#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

17983 N Painted Spurge Court Surprise, AZ 85374

$699,950

3 Beds

3 Baths

2,074 SqFt

Status Active

MLS # 6777168

Property Type Single Family Residence

Price Type --

What a stunning property! This Surprise Grand home with a main house and a separate casita sounds like the perfect blend of elegance and functionality. The premium cul-de-sac location on the golf course's 2nd fairway is a dream for those who love a scenic, active lifestyle and love to relax in the hot tub. With a chef's kitchen, warm and inviting great room with fireplace and luxurious finishes throughout, it's clear this home has been thoughtfully remodeled. The layout, including the den with a built-in office and bookcase, seems ideal for someone looking for both relaxation and space to work from home. Also including a detached guest house and a charming backyard w/a covered patio, artificial turf, and a refreshing hot tub, this home is a dream come true! Act now before it's gone!

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11326 E Medina Avenue Mesa, AZ 85209

$699,950

2 Beds

2.5 Baths

2,282 SqFt

Status Active Under Contract

MLS # 6772506

Property Type Single Family Residence

Price Type --

A rare opportunity in the highly sought-after Sunland Springs Village, Mesa, AZ. This meticulously cared-for home offers 2 bedrooms, a den, an office/hobby room, and 2.5 bathrooms, all situated on the 8th fairway near the green of the Superstition Golf Course. With 2,282 sqft of graceful living space, this home features a well-designed, light-filled layout, including an open family room, kitchen, and a custom bumped-out eat-in dining area. The kitchen boasts an extended breakfast bar, maple cabinetry with upgraded glass door displays, and ample workspace. Enjoy stunning golf course views from the family room, eat-in kitchen, office/hobby room, and primary suite. The backyard offers the epitome of outdoor living with extended covered patio, showcasing views of the golf course Red Mountain, and Superstition Mountains. The home also features a rebuilt roof in 2021 and motorized/mechanical security roller shades. Sunland Springs Village provides the ultimate 55+ living experience with a 27-hole executive golf course, clubhouse, fitness center, card room, arts & crafts studio, outdoor pools and spa, tennis & pickle balls courts, and more. Conveniently located near Superstition FWY- HWY 60 and down the street from shopping, restaurants, and entertainment at the Superstition Gateway Shopping Plaza...just to name a few : Kohls, Wal-Mart, Best Buy, Marshalls, Bed Bath & Beyond, In-N-Out Burger, and AMC Theatre.

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17832 W Sapium Way Goodyear, AZ 85338

$699,950

5 Beds

4 Baths

3,039 SqFt

Status Active

MLS # 6766242

Property Type Single Family Residence

Price Type --

Welcome to this gorgeous 5 bedroom home in the sought-after resort style community of Estrella Mountain Ranch. Featuring dual ensuites, hosting the in-laws is a breeze! Built in 2022, this spacious 3,000+ sq. ft. home with stylish accent walls and built-in bar, offers stunning mountain views from every angle. The designer kitchen features high-end finishes, reverse osmosis & water softener systems. Enjoy relaxing in the luxurious pool and hot tub on the turfed yard, perfect for entertaining. The loft provides additional space for work or play. Located just a short walk from the new Presidio community center and near parks, walking, biking, and hiking trails, this home truly has it all! Don't miss out!

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47616 N 23rd Drive New River, AZ 85087

$699,900

3 Beds

2.5 Baths

1,959 SqFt

Status Active

MLS # 6708351

Property Type Single Family Residence

Price Type --

Brand New Extraordinary Custom Spec is now complete. This is the last gorgeous home being offered that is part of this fantastic culdusac w paved 23rd Dr and panoramic Mountain views. Master is split with huge walk in shower, his & her closets, Large soaker tub. Garage is HUGE w over 1550 sq ft, Mini-split & 1/2 bath, 50 amp service & big enough for 6 cars. Come relax on the back patio while enjoying the breathtaking views of Tonto National Forest & New River Mesa. Inside is open & bright. Large open kitchen has stainless appliance package, kitchen island w bar covered in quartz. Spray foam insulation thru-out, 4 part shared well, brand new septic, Builders 2 year warranty.

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11106 S 52nd Lane Laveen, AZ 85339

Open House

New

$699,900

3 Beds

3 Baths

2,392 SqFt

Status Active

MLS # 6778288

Property Type Single Family Residence

Price Type --

Dreaming of a new home without the wait? This is it! Owner's plans changed, so this home is BRAND NEW—fresh two-tone paint, polyurea garage flooring, & ready to go. With ample garage space for all your toys & a spacious open layout, there's room for everyone. Need a home office, cozy den, or flex space? This home has that too, plus a next-gen living space in the front room with a private ensuite bathroom, perfect for guests or multigenerational living. The kitchen, gathering room, & dining area flow effortlessly for warm family meals & easy entertaining. Enjoy indoor/outdoor living with an extended wrap-around covered patio—perfect for relaxing or hosting. New Home Warranties are transferrable! Corner lot backing to greenbelt—no neighbors, just stunning mountain views! Make it yours today

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6520 N 130th Lane Glendale, AZ 85307

New

$699,900

4 Beds

2 Baths

2,469 SqFt

Status Active

MLS # 6774129

Property Type Single Family Residence

Price Type --

Do you need somewhere to park the toys? This semi-custom car lovers dream home is in a beautiful friendly gated neighborhood on a 18k sf lot! New roof with a warranty and newer AC units, 4 car garage with a lift, motorized RV GATE. WOW! This 4bed/Den 2 bath home does not disappoint! Gorgeous 20x20 tile throughout, granite counter tops in the kitchen and bathrooms, SS appliances and a large pantry. The kitchen opens up to a beautiful great room that looks out into your massive backyard. As you walk in the grand front door you will notice the beautiful dining room to your right with coffered ceilings and the comfy Den to the left. Make sure to check out the master suite which boasts a stunning master bathroom with a separate tub and tiled shower, double sinks and a spacious walk in closet. The backyard is massive! It has a custom basketball court with lighting, professionally landscaped and plenty of room to park the toys. Don't miss the spacious back patio too!! This home has been freshly painted inside and out, the roof was just redone. FREE PAID FOR SOLAR, AC units replaced 2019. Oh and the inviting front Courtyard too so you can enjoy that morning coffee! We can't forget this 4 car garage with a lift and insulated modified high bay garage doors! It has jack shaft drives as well. All set up for the car enthusiast!! This home has it all. So many things to list! Come see it today!!

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7137 E Rancho Vista Drive Unit 2010 Scottsdale, AZ 85251

$699,900

2 Beds

2 Baths

1,260 SqFt

Status Active

MLS # 6760772

Property Type Apartment

Price Type --

Welcome to this fantastic Optima Camelview 2 bedroom 2 bath with a study / formal dining Room. This is one of the most popular floor plans in Optima Camelview with a cool twist, the master bedroom is semi-open to the great room for a unique loft like feel. This can be closed in to create a fully private bedroom if desired. It was designed by the original owner who is an architect. This condo has plenty of storage. Shark kitchen cabinetry and stainless steel appliances. The study is a great place for a home office or a formal dining room. Travertine flooring, granite counters, full size washer/dryer. Spacious private terrace with nice community views. The open concept mast can easily be converted back to a fully private space. Must see. All found within the luxurious Optima Camelview Village, with it's unbeatable location & state of the art architecture/amenities. Amenities include: Two Outdoor Zen Pools, Spas & Bbqs One on each side of the community (heated year round). 24,000 sq. ft. Fitness Center (Recently Remodeled). Mens & Womens Locker Rooms w/ Steam Rooms, Showers and Private Lockers. Indoor Lap Pool & 2 Spas (Heated year round), On-site concierge, Putting green, Hybrid Basketball / Pickle-ball Court, Racquet ball court, On-site restaurant (metropolis), conference room, 24/7 Security, Reservable party room and multi-purpose fitness/yoga room.

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22812 N Dusty Trail Boulevard Sun City West, AZ 85375

$699,900

3 Beds

3 Baths

2,976 SqFt

Status Active

MLS # 6779388

Property Type Single Family Residence

Price Type --

Backing to the 17th green with views of the 18th tee box and multiple fairways, this 3 bed/3 bath/PLUS a den, Sun City West masterpiece is a SHOW STOPPER!! Exterior boasts an extended patio with pergolas, planters, remote controlled screens, cool decked concrete, and huge entertaining space. Walk through the double door entry, experience the soaring ceilings, and cast your gaze through the multiple bay windows to capture the sunset views with the golf course backdrop. The downstairs master suite has two walk-in closets, jetted tub for two, separate shower, and dual sinks. SECOND MASTER SUITE is a cozy upstairs apartment with a walk-in closet and bathroom. Chef's kitchen has been updated with stunning cabinetry and GE CAFE & BOSCH appliances. The 3-way gas fireplace gives just the right ambience for any occasion. Updates include new floors, fresh paint, tankless gas water heater, water softener, garage cabinets, and RO.

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18570 W Cathedral Rock Drive Goodyear, AZ 85338

$699,900

3 Beds

2.5 Baths

2,602 SqFt

Status Active

MLS # 6745612

Property Type Single Family Residence

Price Type --

Discover this stunning luxury single-story home, to be built appx 5-6 months, in an exclusive all single-story community. Huge backyard for future pool. Amazing 60' wide residence features 3 bedrooms, 2.5 bathrooms, a versatile study or media room, and a spacious 3-car tandem garage with a pavered driveway. The elegant, chef-inspired kitchen boasts a gas cooktop, wall oven/microwave, quartz countertops, 42'' upper cabinets, and opens to a spacious great room with a 20' multi-slide door, perfect for seamless indoor-outdoor living. The primary suite offers a zero-step entry shower, a huge walk-in closet with direct access to the laundry room. Energy efficiency is prioritized with spray foam insulation in the attic and exterior walls, plus a tankless water heater. Photos not subject property

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7800 E Lincoln Drive Unit 1072 Scottsdale, AZ 85250

$699,900

3 Beds

2 Baths

1,601 SqFt

Status Active

MLS # 6750243

Property Type Townhouse

Price Type --

Wonderful opportunity for a fully remodeled three bedroom unit in Cabrillo Square! MOVE IN READY! The home was just completed from the existing owner. Beautifully done with new vinyl flooring throughout, new carpet on stairs and in the primary bedroom. Brand new Samsung appliances, refrigerator, stove and microwave. New quartz counters in kitchen, long rectangular stainless steel sink with an eat in kitchen. Freshly painted, new tile surround the wood burning fireplace. Dual pane windows and new window treatments throughout. W/D inside. So many upgrades to mention! BEAUTIFUL GREEN LEMON TREE ON THE SIDE OF HOME IN BACK!! 2 car garage with direct access into kitchen. Home shows very light and bright with abundant light. This is a must see! Vacant and ready for new owners!

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2026 E Laurel Circle Mesa, AZ 85213

$699,900

4 Beds

2 Baths

2,439 SqFt

Status Active

MLS # 6763254

Property Type Single Family Residence

Price Type --

Gorgeous home with FLOOD IRRIGATION and NO HOA! No corner has been left untouched. OWNED Tesla solar and battery make your energy bills incredibly efficient. The vaulted ceilings and bright rooms make the entire home your spacious retreat. Fully remodeled kitchen with quartz countertops, double ovens, and tons of upgrades will make your chef's heart sing. The primary suite checks all the boxes for you to relax after a long day at work (jetted tub, anyone?) including space for your own private reading nook. Also notice the spacious walk-in closet and large windows providing tons of natural light. The backyard is an entertainer's dream with a long covered patio, a basketball court, and several established fruit trees. Flood irrigation keeps your yard cool and water bills low. Recent upgrades include new windows (front of home), AC condenser, water heater, and wood-look ceramic tile. With close proximity to excellent schools and the 202 freeway, this home is ideally located and won't last long on the market!

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5015 Buck Springs Road Pinetop, AZ 85935

$699,900

4 Beds

2.5 Baths

2,112 SqFt

Status Active

MLS # 6756291

Property Type Single Family Residence

Price Type --

Here's your dream home crafted with love and precision. This home/cabin in Pinetop Lakes Country Club, within walking distance of the Golf Club House is on a large lot. Slate entry with high ceilings, custom stainedglass window and more. Chefs delight kitchen with granite counter tops, all new appliances including, wine fridge, 8 top gas cooktop and double oven. Main bedroom or mother-in-law suite set up on main floor, with additional main bedroom on second floor. Enjoy the crisp mountain air from front and back porches, landscaped yard, green grass, sugar maple, apple, and pine trees. Firepit and 6 person hot tub makes this a homey retreat.

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