#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

217 W Georgia Avenue Phoenix, AZ 85013

$699,000

4 Beds

3 Baths

1,789 SqFt

Status Active

MLS # 6778139

Property Type Single Family Residence

Price Type --

CHARMING Mid-Century Ranch in the Medlock Place Historic District. No remodeling to undo, this cutie is a blank palette awaiting your enhancements. Square footage is combined to include the 3/2 main house and the adjacent 1/1 guest house. Very livable with real wood floors and some tile and laminate. The large double lot is irrigated approximately ten months per year. Good curb appeal. Huge back yard. Because of historic status, any exterior changes require city approval. There is an unairconditioned shop attached to the rear of the main house. Incredible near North Central neighborhood. Dining options along Central Avenue include Postino, Windsor, Federal Pizza, Joyride and upcoming The Henry. Easily access the light rail at Central & Camelback and head downtown for a game or concert.

View Property

30240 N 60th Street Cave Creek, AZ 85331

New

$699,000

3 Beds

2 Baths

1,569 SqFt

Status Active

MLS # 6780923

Property Type Single Family Residence

Price Type --

Beautifully updated 3 bedroom, 2 bathroom home in Cave Creek on over an acre of land. Tile and neutral colors throughout. The kitchen has been completely updated with beautiful, cabinets, granite countertops and stainless-steel appliances. Fully updated bathrooms, fixtures and lighting. New AC 2020, new septic 2023, energy efficient Owned Solar. Large laundry area, water softener, covered patios front & back. So much space for horse facilities, workshop, detached garage, RV's and toys. Build your dreams! Close to shopping, restaurants and all the fun in Cave Creek. On county Island & No HOA.

View Property

11818 W Luxton Lane Avondale, AZ 85323

$699,000

3 Beds

3.5 Baths

3,158 SqFt

Status Active

MLS # 6764269

Property Type Single Family Residence

Price Type --

Magnificent David Weekley home now on the market in the highly desired Alamar community! This single level home is better than new and comes with generous upgrades. Exciting features include10' ceilings, 8' doors, 4 car garage, epoxy flooring and paver driveway on a large lot! Step inside and you will be blown away by the elegant interior. The gourmet kitchen has floor to ceiling cabinets, custom tile backsplash, granite counter tops on an enormous island, high-end SS appliances, a coffee/dry bar, and custom walk-in pantry with pull-out drawers too. The spacious owner's suite hosts an immaculate bathroom with large dual vanity, an oversized walk-in shower plus walk-in closet. Second and third bedrooms are huge and have their own ensuites. The large laundry room comes with attached cabinets & a utility sink. Home is equipped with water softener and RO system. The multi-sliding glass doors allow abundant natural light in and connect the indoor with outdoor living. The outdoor space has been landscaped beautifully with artificial turf, paver patio, various trees and is highlighted by a stunning fireplace! Community has its own lake, sports courts, pool, children's playgrounds and more!

View Property

18448 E Paseo Verde Drive Rio Verde, AZ 85263

$699,000

3 Beds

2 Baths

2,731 SqFt

Status Active

MLS # 6556128

Property Type Single Family Residence

Price Type --

This is the perfect lock and leave property in the Rio Verde Country Club. This Alexander home has already been updated for you: New A/C units, New Roof with 10-year warranty! Updated kitchen with new Frigidaire appliances and updated bathrooms. High dramatic vaulted ceilings in Great Room and family room make this home feel very spacious. The great room features wooden beams and beautiful views of lush vegetation, flowers and palm trees. Enjoy the elevated wrap around patio with a sunny or shady part at any time of the day, easy to maintain landscaping. South facing patio for warm winter sun in front of the home. The home has a 2.5 car garage and 2 basements which are fully usable.

View Property

16912 W Cielo Grande Avenue Surprise, AZ 85387

$699,000

3 Beds

2.5 Baths

2,585 SqFt

Status Active

MLS # 6654060

Property Type Single Family Residence

Price Type --

ENDLESS POSSIBILITIES w/ 50 ft *climate-controlled* RV GARAGE. Ideas abound: car enthusiast's dream (space for lifts), workshop, game room, exercise studio, a home business, and more! Plus, fully EPOXIED including the adjacent 3-car tandem garage. This 3-Bed/2.5-Bath CORNER LOT Asante home boasts a split floorplan and includes Detailed Upgrades that complement flexible living with inviting entryways to the home and all the bedrooms. The heart of this home is its gourmet kitchen with a SPACIOUS CENTRAL ISLAND featuring extra storage, a herringbone tile backsplash, wall ovens and a corner WALK-IN PANTRY. The 6-burner GAS STOVE is a chef's dream. Wood look porcelain tile floors, a shiplap feature wall and an extra-large fan complete the great room space, and an adjacent flex space is currently a separate dining space. The primary en-suite features a large SPA SHOWER. Outside the entertainer's yard offers indoor/outdoor living with two turf areas, mature trees and rear access to the amazing *climate-controlled* garage! Say goodbye to worrying about the Arizona heat affecting your prized possessionsyour vehicles/toys/work equipment/memorabilia will be protected year-round in this *climate-controlled* haven.

View Property

2237 E Captain Dreyfus Avenue Phoenix, AZ 85022

$699,000

3 Beds

3 Baths

2,464 SqFt

Status Active

MLS # 6682338

Property Type Single Family Residence

Price Type --

Within reach of Shadow Mountain. Quiet Neighborhood! City Lights and Mountain Views from the roof/deck overlooking the resort-style pool toward Piestewa Peak. Stunning!. Three separate, individual suites, each with their own en-suite bathroom and walk-in closet. Lower-cost electric with Solar! Fine Designer Woodwork Detail throughout, plantation shutters, Central Vacuum, granite countertops, stainless steel appliances, Fridge and Washer & Dryer included, two separate covered patios, side yard with cool-feel, synthetic grass, ample cool decking around pool. No HOA, close to Phoenix Mountain Preserve Trails. Pavilion of Light. No through traffic. Quiet. Serene. Patio Pool fencing retained. Solar Lease $71/mo.

View Property

12451 W Nadine Way Peoria, AZ 85383

$699,000

3 Beds

2 Baths

2,365 SqFt

Status Active

MLS # 6738270

Property Type Single Family Residence

Price Type --

Model home in gated Vistancia Village community next to clubhouse. 3 bedroom with 2 baths and teen room. 3 car garage, Fresh paint, custom built cabinets in living area, wood burning fireplace in backyard, turf in front an backyard.

View Property

10199 N 105th Way Scottsdale, AZ 85258

$699,000

3 Beds

3 Baths

2,104 SqFt

Status Active

MLS # 6696856

Property Type Single Family Residence

Price Type --

Step into a rare opportunity to own a meticulously maintained patio home in the heart of Scottsdale Ranch's exclusive 55+ community. This ready-to-move-in property features 3 bedrms and 3 bathrms, with a thoughtful floor plan that includes 2 master suites. The 3rd bedrm, versatile enough to be transformed into a den, is complete with its own bathroom and shower. Immediately greeted by the evident care and love infused into every corner of the home. The living room is highlighted by vaulted ceilings, creating a spacious and inviting atmosphere, while custom ceilings over nine feet throughout the rest of the home enhance the sense of light and airiness. Recent updates add to the home's appeal, including stylish flooring, contemporary counter finishes, modern baseboards & interior paint. Practical enhancements have also been made, with an HVAC system that is approximately 1.5 years old. Enjoy the convenience of a step-free layout and the added luxury of being just moments away from community tennis courts and a heated pool. This home is not just a residence but a retreat for those seeking comfort and elegance in a vibrant community setting. Experience the blend of relaxation and modern living in this charming Scottsdale Ranch patio home.

View Property

2601 W Lodge Drive Phoenix, AZ 85041

$699,000

5 Beds

4 Baths

2,700 SqFt

Status Active

MLS # 6697399

Property Type Single Family Residence

Price Type --

Beautiful custom Home nestled right up to the Base of South Mountain. Seller is willing to flex on price! New kitchen and bathrooms recently remodeled. 2 A/C units and water heater 2 yrs old. Perfect mountain views from the yard. Over half acre of land (33,000+) to do whatever you'd like. Chicken stalls already built. Separate two car garage with attached Casita, bedroom and bathroom. Free standing gazebo. Flowing water during rainy days. Really is a must see!

View Property

17025 E La Montana Drive Unit 123 Fountain Hills, AZ 85268

$699,000

3 Beds

2.5 Baths

2,074 SqFt

Status Active

MLS # 6700795

Property Type Townhouse

Price Type --

LUXURY LIVING AT IT'S FINEST! This gorgeous townhouse is located in the prestigious gated community of Arroyo Verde at Bella Lago. It features an upper deck and lower patio with stunning views. The interior has an wide open floorplan with soaring ceilings. This breathtaking home has updated appliances, interior paint, light fixtures, faucets, water heater, sink, cabinet hardware, plus much more! The community cabana features a pool, hot tub, fitness area, kitchen, and bathrooms. Located in the heart of Fountain Hills just steps from Overlook Trailhead, walking distance to the world famous fountain, Avenue of the Fountains, amazing restaurants, great shopping, McDowell Mountain regional park, and only 15 minutes from the airport! Huge price reduction! Motivated seller! Bring all offers!

View Property

17627 N 14th Avenue Phoenix, AZ 85023

$699,000

8 Beds

3 Baths

3,400 SqFt

Status Active

MLS # 6701889

Property Type Single Family Residence

Price Type --

This is the perfect house for you! Energy-efficient property sitting on a pie-shaped lot in a quiet cul-de-sac with a Casita! This one-story home provides plenty of solar panels that save you money every month. Immaculate interior has a great room w/wood-look floors, thick baseboards, & modern light fixtures. The heart of the home is the oversized family room boasting high vaulted ceilings, skylights, fireplace, & backyard access! Discover a split owner's retreat featuring walk-in closet, access to the backyard, & lavish ensuite. The backyard offers covered patio, plenty of space for your oasis, & RV gate. An ample living room, kitchenette, bedroom, & bathroom complete the casita! Move-in ready

View Property

15851 N 16th Street Phoenix, AZ 85022

$699,000

3 Beds

2.5 Baths

2,483 SqFt

Status Active

MLS # 6710570

Property Type Single Family Residence

Price Type --

ELEVATED LOOKOUT CANYON ESTATES IN THE HEART OF THE MOON VALLEY AREA. 3 FULL BEDROOMS, TWO- AND ONE-HALF BATHS PLUS A FLEXROOM/OFFICE/DEN. ALL NEW ROOF INCLUDING NEW TILES 2022. VAULTED CEILINGS LIGHT AND BRIGHT. MOUNTAIN VIEWS AND HIKING AREAS WITHIN WALKING DISTANCE. THE KITCHEN BOASTS AN OPEN FEEL WITH ISLAND WITH SEATING, STAINLESS APPLIANCES AND BREAKFAST NOOK ALL ADJOINING TO A FAMILY ROOM W/FIREPLACE. BACK PATIO W/BLT IN BBQ, FIREPLACE. A BONUS RV GATE & SLAB WITH OUTDOOR LIVING NO HOA FEES. MOUNTAIN VIEWS AND HIKING AREAS WITHIN WALKING DISTANCE. CLOSE TO FREEWAYS AND FOOD AND SHOPPING AMENITIES

View Property