#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

2204 W Blaylock Drive Phoenix, AZ 85085

$699,900

4 Beds

2.5 Baths

2,927 SqFt

Status Active

MLS # 6759120

Property Type Single Family Residence

Price Type --

Priced to sell in Valley Vista! This beautiful 4-bed, 2.5-bath with 3 car oversized garage home on a generously sized corner lot in Valley Vista is on the market and priced to sell - below area comps! Tastefully finished with plantation shutters, designer paint, and wood & tile flooring throughout. The spacious living/dining area features soaring ceilings, while the open family room includes surround sound, a media center, projector, and theater screen, perfect for family entertainment! The gourmet kitchen boasts granite countertops, mosaic backsplash, walk-in pantry, and center island. Upstairs, the primary suite offers a spacious bedroom, a spa like bath, including his and her sinks, separate tub/shower, and a walk-in closet. The back yard offers a nicely sized covered patio and a blank canvas with ample space for a pool or whatever you can envision. Let your imagination run wild, the possibilities are endless! The oversized garage offers 2 electric car chargers for ease and efficiency. Conveniently located to lots of dining and shopping options and TSMC. This home is ready and waiting for a new family to make it their own and is the perfect opportunity to get into the Valley Vista below comps!

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10925 E Toluca Avenue Mesa, AZ 85212

$699,900

4 Beds

2.5 Baths

2,715 SqFt

Status Active

MLS # 6771477

Property Type Single Family Residence

Price Type --

This BEAUTIFUL home on a corner lot is OVERFLOWING w/DESIGNER upgrades! FANTASTIC curb appeal w/extended paver driveway, faux grass + front courtyard! Wood plank flooring + new carpet! GOURMET kitchen w/quartz countertops, herringbone patterned tile backsplash, stainless appliance suite + BIG island w/breakfast bar! GRAND 2-story great room w/wall of windows! Dining room + separate office/flex room! PRIVATE owner's suite w/barn door to ensuite bath! Head upstairs to the LARGE open loft/game room, more bedrooms + a full bath! GORGEOUS backyard OASIS w/waterfall swimming pool, pergola, large covered patio + travertine pavers and faux grass! RV gate! So many UPGRADES throughout! Don't miss this GREAT opportunity! Great shopping & restaurants nearby! WELCOME HOME!

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427 W Liberty Lane Gilbert, AZ 85233

$699,900

4 Beds

3 Baths

2,836 SqFt

Status Active

MLS # 6768586

Property Type Single Family Residence

Price Type --

Welcome to this stunning tri-level home, perfectly situated in a prime, close-in location near shopping and amenities! With 4 spacious bedrooms and 3 baths, this inviting home offers plenty of room for everyone. The dramatic entry leads you to a formal living room and cozy family room, ideal for gatherings. The smart floorplan includes a bedroom and bath on the first floor, along with a large laundry room and game/craft for extra living space. Upstairs, the second level boasts 3 additional bedrooms, including a spacious master suite with a master bath. Step outside to your backyard oasis, complete with a newly resurfaced pool, built-in BBQ, and a covered patio—perfect for entertaining! There's also an RV gate with extra custom slab parking for your boat, jet skis, ATVs, or other toys. With a 3-car garage, a quarter acre and a fantastic location, this home truly has it all! Don't miss your chance to make it yours!

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1806 E La Jolla Drive Tempe, AZ 85282

$699,900

4 Beds

3 Baths

2,624 SqFt

Status Active

MLS # 6770770

Property Type Single Family Residence

Price Type --

Welcome to 1806 E La Jolla Dr where you'll find class and comfort wrapped up into this spacious 2,624 sq ft single story fully remodeled home located in the heart of everything Tempe. Entering you'll find a foyer to greet your guests and provide privacy from your main living quarters. The oversized front living room with a huge picture window can be turned into a den, office, game-room etc. You'll then be lead into the gorgeous oversized dining room. The size of this room also gives you so much leeway to create the most amazing built in buffet with extra storage or drink station etc so many possibilities. Let's head into the great-room where you'll be happy to find gorgeous quartz countertops, new shaker cabinets, backsplash and matching LG appliances. Another feature you'll find is the wood burning fire place that will create the coziest setting for those cooler winter months or rainy days snuggling on the couch. Now let's talk bedrooms, not too often do you find two true primary suits. This is one of the best features of this house. You'll have so much flexibility for your ever changing lifestyle needs. Each primary room has an en suite and one has a brand new slider that leads to the backyard. The two other bedrooms are large in scale as well and provide ample space for any age. There is a third full bathroom in this house as well which is not that common in this area and provides so much convenience. Roughly 70 LED can lights were added during the remodel to provide that light, bright and airy feeling we are all searching for. All new light switches with dimmers, New AC installed in 2023 and new underlayment in 2019, new water heater installed in 2024 so all your major mechanical components are taken care of. This is a must see home with so much attention to detail.

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3359 E Desert Cove Avenue Phoenix, AZ 85028

$699,900

4 Beds

2 Baths

2,179 SqFt

Status Active

MLS # 6769452

Property Type Single Family Residence

Price Type --

Incredible Corner Lot Almost 1/4 Acre at 10,170 Sqft per the Assessor! Wonderful 4 Bedroom 2 Bathroom home with awesome floor plan. Wood Burning Fireplace in Family Room which opens to Kitchen. Big Master Bathroom with tons of Room. Pool and Covered Patio in the Lush Beautiful Big Backyard with Fruit Tree and Grass. Big Storage shed on the side. Priced at a Great Value to do all your updating needs. Dead End Street and very private.

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13944 N 88th Place Scottsdale, AZ 85260

$699,900

3 Beds

2 Baths

1,369 SqFt

Status Active

MLS # 6772846

Property Type Single Family Residence

Price Type --

SELLER IS OFFERING BUYER CONCESSIONS with a competitive offer! Discover the stunning beauty of this Scottsdale home, exuding charm with its fresh exterior paint that enhances its curb appeal. Step through the entryway adorned with designer tile, setting the stage for the open family room that seamlessly flows into a chef's dream kitchen. Here, new cabinets, gleaming quartz countertops, a stylish tile backsplash, and upgraded appliances await. The informal dining area features a sliding door leading to a screened patio and inviting pool, perfect for relaxation. The luxurious primary suite offers a spacious walk-in closet and an elegant double sink vanity, while secondary bedrooms share a beautifully updated bath. Every inch of this home shines with all-new LVP flooring, patterned carpet and modern fixtures, making it a true gem!

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7508 E Beatrice Street Scottsdale, AZ 85257

$699,900

3 Beds

2 Baths

1,584 SqFt

Status Active

MLS # 6772226

Property Type Single Family Residence

Price Type --

Live the Dream in the Heart of Old Town! This stunning 3-bedroom, 2-bathroom desert oasis in a quiet cul-de-sac location is the perfect blend of modern luxury and Scottsdale charm. Completely remodeled from top to bottom, this home boasts an open floorplan ideal for entertaining and easy living. Step inside and be greeted by: A gorgeous chef's kitchen featuring custom two-tone green/white thin shaker cabinets, quartz countertops, a dimensional tile backsplash, and SS appliances -High ceilings with recessed lighting throughout for a bright and airy feel -A spacious bonus room perfect for a home office, game room, or media room -Master bathroom with a luxurious walk-in shower featuring all-new fixtures. No detail has been overlook: Brand new flooring, baseboard, doors, and paint throughout

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1817 N 77th Street Scottsdale, AZ 85257

$699,900

4 Beds

3 Baths

2,756 SqFt

Status Active

MLS # 6775660

Property Type Townhouse

Price Type --

Are you looking for a spacious home with an unbeatable location? Master Bedroom and Bathroom downstairs, This Scottsdale home features four bedrooms (including two master suites), and three baths. The kitchen has an attached breakfast room, spacious living areas upstairs and downstairs as well as a balcony with views of Camelback Mountain. Ceiling fans and tile throughout, with ample storage and a private backyard ready for entertaining. Minutes from Old Town Scottsdale, walking distance to bars and restaurants and easy access to the 101 and 202 freeways, Sky Harbor and ASU, make this a highly desirable neighborhood. Step outside your front door and view El Dorado Park with miles of walking and biking paths, picturesque water features, playgrounds, a skate park and a disc golf course.

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7320 E Papago Drive Scottsdale, AZ 85257

$699,900

3 Beds

2 Baths

1,486 SqFt

Status Active

MLS # 6777989

Property Type Single Family Residence

Price Type --

Fantastic opportunity to own this impeccably updated 3-bedroom, 2-bath residence! You'll be delighted by the open floor plan boasting vaulted ceilings with exposed beams, recessed lighting, a soothing palette, and attractive wood-look flooring. The cozy family room includes a fireplace for relaxing evenings with loved ones. Cook delicious meals in the kitchen, equipped with sleek quartz counters, white shaker cabinets, pendant lighting, a stylish tile backsplash, SS appliances, and a peninsula with a breakfast bar. The main bedroom offers French doors that lead to the backyard and a private bathroom for added comfort. Unwind in the enchanting backyard, complete with a covered patio, a built-in BBQ for weekend grills, pavers, pristine artificial turf, and a sparkling pool. Make it yours!

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2622 W Luce Drive Phoenix, AZ 85086

$699,900

4 Beds

2.5 Baths

2,622 SqFt

Status Active

MLS # 6746803

Property Type Single Family Residence

Price Type --

Priced well under recent appraisal. This Stunningly Remodeled Home with Luxurious Appointments in a Coveted Friendly Neighborhood... Step into this exquisitely remodeled 4-bedroom, 3 (2 full and one 1/2) bath home and experience luxury living at its finest. Nestled in a serene neighborhood with a backdrop of majestic mountains and backing up to a lush greenbelt, this turnkey property offers everything you need and more. The heart of the home features an inviting eat-in kitchen with brand-new stainless steel appliances, including a high-end induction cooktop, gleaming Melso quartz countertops, and stunning new hardwood floors in bedrooms and tile that seamlessly flow throughout the living spaces. The open floor plan is perfect for both daily living and entertaining, with two beautiful patios to choose from. Start your morning with coffee on the patio, listening to the soothing sounds of the water feature, or host a weekend barbecue with friends on the other, complete with a high-end built-in natural gas grill. This home boasts a spacious 3-car garage with built-in cabinets, providing ample storage space. The luxurious upgrades extend to every corner of the home, including the bathrooms, where modern finishes and fixtures create a spa-like retreat. This home is truly move-in ready and even includes a washer and dryer. It has everything you and even your fur babies could ever need. Don't miss your chance to make this luxurious property your forever home.

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9379 E Windrose Drive Scottsdale, AZ 85260

$699,900

3 Beds

2 Baths

2,112 SqFt

Status Active

MLS # 6774485

Property Type Single Family Residence

Price Type --

Welcome to this delightful 3-bedroom + 2 office/casitas and 2-bathroom single-story home nestled on a tranquil cul-de-sac lot. Boasting 2112 square feet of meticulously designed living space which includes 2 bonus rooms, this property offers an ideal blend of comfort, convenience, and elegance. Upon entering, you'll be greeted by an inviting open floor plan that seamlessly connects the living, dining, and kitchen areas, perfect for both relaxing and entertaining. The well-appointed kitchen features modern appliances, ample counter space, and a breakfast bar, making meal preparation a joy. The primary bedroom suite is a private retreat, complete with an en-suite bathroom and generous closet space. Two additional bedrooms provide...

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10053 E Seismic Avenue Mesa, AZ 85212

$699,900

3 Beds

2.5 Baths

2,462 SqFt

Status Active

MLS # 6698479

Property Type Single Family Residence

Price Type --

Welcome to your dream home in coveted Eastmark community! This stunning 3 bed, 2.5 bath residence boasts 2,462 sqft of modern luxury. Dive into relaxation with your own private pool or unwind on the covered patio. Built in 2018, it showcases contemporary finishes throughout. Enjoy the convenience of a 3-car tandem garage. Plus, indulge in all the perks of Eastmark living, from parks to community events. Don't miss out on this perfect blend of comfort and convenience!

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