#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

5027 E Charleston Avenue Scottsdale, AZ 85254

$699,000

3 Beds

2 Baths

1,881 SqFt

Status Active Under Contract

MLS # 6711502

Property Type Single Family Residence

Price Type --

This is a true 3 bedroom/2 bath with a bonus room/den or 4th bedroom. The expensive items are done! 2020 - WASHER & DRYER AND HVAC 2021 - ROOF w/ 15-yrs. warranty AND REFRIGERATOR 2022 - DISHWASHER w/ 4 yr. warranty, 2023 - LANDSCAPING SPRINKLER CLOCK, GARBAGE DISPOSAL, AND WHOLE HOUSE EXTERIOR PAINT JOB 2024 - (3) LIGHT PENDANTS, (2) TOILETS, (3) BATHROOM SINK FAUCETS, GARAGE PAINT INERIOR WALLS, DOOR TRIM AND BASEBOARDS PAINT. Enjoy wood-like laminate floors in living room and bedrooms, 3-car garage, and a spacious backyard with a covered patio, grassy yard, built-in fireplace and BBQ. This is a beautiful well-maintained home in the coveted neighborhood of Triple Crown. It shows light and bright, clean and move-in ready!

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7147 E Rancho Vista Drive Unit 3007 Scottsdale, AZ 85251

$699,000

2 Beds

2 Baths

1,252 SqFt

Status Active Under Contract

MLS # 6731296

Property Type Apartment

Price Type --

Unbeatable Location, Luxury Amenities - Motivated Seller! Step into modern living with this stunning 2-bed/2-bath condo featuring an open-concept design and courtyard views. Every detail exudes elegance, from high-end upgrades to the spacious primary suite with a huge walk-in closet and flexible space for dining, a home office, or a cozy den. Nestled within the lush, botanical beauty of Optima, enjoy resort-style amenities: two outdoor pools, an indoor lap pool with spas, steam saunas, indoor basketball and racquetball courts, a putting green, pickle ball court, a cutting-edge fitness center, full-time concierge, and an on-site restaurant. Located just steps from renowned restaurants, luxury shopping, and outdoor adventures, this rare opportunity won't last. All of this is within walking distance to numerous acclaimed restaurants, luxury shopping destinations, and various outdoor activities.

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5345 E Mclellan Road Unit 91 Mesa, AZ 85205

$699,000

4 Beds

3 Baths

2,439 SqFt

Status Active Under Contract

MLS # 6752087

Property Type Single Family Residence

Price Type --

This beautiful home in the gated community of Alta Mesa Estates boasts pride of ownership, evident in its well-maintained condition. The furnished 4-bedroom, 3-bathroom, 3-car home features an updated kitchen with stainless steel appliances, a bright and airy family room with a fireplace, and a fenced pool with a heat pump installed in 2019. The backyard is a sight to behold, with mature landscaping, a putting green, covered patios, a built-in BBQ, and citrus trees. The formal dining area has a deck for enjoying sunrises and a front courtyard for sunsets. The home has been tastefully decorated with designer touches, including a barn door at the laundry room. The home faces north/south, & the block fence provides privacy and security.

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5118 E Anderson Drive Scottsdale, AZ 85254

$699,000

3 Beds

2.5 Baths

1,832 SqFt

Status Active Under Contract

MLS # 6754627

Property Type Single Family Residence

Price Type --

This fabulous home is now available in the highly coveted zip code of 85254. Centrally located in the new community of Arabella w/3 beds, 2.5 baths & a 2 car Garage w/electric car outlet.. Discover an inviting great room that seamlessly connects the main living areas. Home has a neutral scheme from the flooring to the window treatments, this home is sure to match anyone's decor. The gourmet kitchen boasts high-end SS appliances, granite counters, tile backsplash, dark wood cabinetry, & a breakfast bar. Main bedroom has an ensuite w/dual sinks, a walk-in closet, & laundry room access. Other bedrooms shared a Jack & Jill bathroom. Relax under the back-covered patio! Both the front & backyard have been meticulously landscaped, offering a haven of tranquility. This newer home is a MUST-SEE!!!

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19976 S Mesquite Drive Queen Creek, AZ 85142

$699,000

4 Beds

3 Baths

2,926 SqFt

Status Active Under Contract

MLS # 6756540

Property Type Single Family Residence

Price Type --

This expansive 4-bedroom, 3-bathroom home is located in a vibrant community, offering an incredible 2,926 sqft of living space. With a den, family room, great room, and bonus room, there's plenty of space for both relaxation and entertainment. The home's 9+ ceilings and dual pane windows create an airy, bright atmosphere throughout. The split primary bedroom includes a walk-in closet for added storage. The kitchen features quartz counters, double stack cabinets, a kitchen island, breakfast bar, and pantry. A sliding door in the living room opens to a lush, green turf and a low-maintenance yard with mature trees, perfect for outdoor enjoyment. Located on a huge lot, the home also benefits from community features like a playground and a sparkling community pool!

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10297 E Clinton Street Scottsdale, AZ 85260

$699,000

4 Beds

2 Baths

2,048 SqFt

Status Active

MLS # 6759189

Property Type Single Family Residence

Price Type --

**FREE 1% rate buy down available on this home!** Nestled in the sought after Bent Tree neighborhood of central Scottsdale, this home is a rare gem! Surrounded by million-dollar properties, the sense of pride in ownership is unmistakable. Set on a large, private, corner lot, this property offers endless possibilities & No HOA. The home boasts a newer roof, all-new Performance Windows & updated AC & water heater, ensuring comfort & peace of mind. Step inside to find soaring vaulted ceilings w/ skylights that flood the living space w/ natural light. The large eat-in kitchen beckons for cozy meals, while the split master suite promises privacy & retreat. Plus, imagine biking or walking to the nearby Scottsdale Greenbelt & enjoying easy access to top schools, healthcare & freeways. Discover why Bent Tree remains one of Scottsdale's most coveted neighborhoods. Curious? Come see for yourself!

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6502 E Grandview Drive Scottsdale, AZ 85254

$699,000

4 Beds

2 Baths

1,735 SqFt

Status Active

MLS # 6743649

Property Type Single Family Residence

Price Type --

FABULOUS COMPLETELY REMODELED 4 BD 2 BA PLUS Bonus Office/Den* This home boasts modern elegance filled with natural light and stylish finishes* WOOD SHUTTERS AND CEILINGS FANS throughout*SUPURB Chefs kitchen w/ quartz counters s/s appliances , LOADS OF CABINET SPACE * The spacious living area is perfect for entertaining with ample cabinetry and counter space* The den/ office space offers a quiet remote space for work or study*The primary suite features a luxurious en-suite bathroom and plenty of closet space * Three additional bedrooms provide flexibility for family, guests, or a home gym* BEAUTIFULLY LANDSCAPED YARD with children' play area surrounded by HIGH WALLS FOR EXTRA PRIVACY* Walking distance to Kierland * Don't miss out on this one COME AND SEE !!

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2074 N 139th Drive Goodyear, AZ 85395

$699,000

3 Beds

2.5 Baths

2,342 SqFt

Status Active

MLS # 6752460

Property Type Single Family Residence

Price Type --

Welcome to your Backyard Entertainment Paradise. This exceptional property is like no other in this community. This home boasts a resort style heated pool for year round comfort, waterfalls, heated Spa with Baja Shelf/double spillway, Travertine deck, Custom Built In BBQ. Misting system at Patio with remote controlled Zipper Sun Shades to cool a full length patio. The gourmet kitchen features elegant white cabinetry with upgraded KitchenAid Stainless Steel appliances, gas cooktop, quartz countertops, and a spacious center island with bar seating. 3 glass sliders are adjacent to the Great Room. Large Glass Slider at Primary Bedroom is just steps from the pool or relax in the Luxurious Free Standing Tub in Primary Bath. Custom Plantation Shutters, Every detail in this home has been thoughtfully upgraded from tile flooring, plush carpet in the bedrooms, modern fans and lighting, as well as high-quality doors, baseboards, and hardware. The large laundry room provides ample storage with upper and lower cabinets, a utility sink, and plenty of counter space. In addition to the master suite, there are two more bedrooms and a flexible space that can be used as a home office or playroom. The 3-car tandem garage features built-in cabinets, a workbench, and a convenient service door leading to the side yard. This home offers the perfect combination of luxury, comfort, and style.

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3010 E Shady Spring Trail Phoenix, AZ 85024

$699,000

3 Beds

2.5 Baths

2,439 SqFt

Status Active

MLS # 6753812

Property Type Single Family Residence

Price Type --

Sellers are offering $5,000 to spend on Buyers' choice! This house is as impressive on the inside as it is on the outside! Beautiful custom wood shutters. Updated, but timeless wood laminate and tile flooring in all areas but the bedrooms. Upgraded light fixtures inside & out. All newer SS kitchen appliances, granite countertops, and island w/breakfast bar, newer disposal & faucet. Spacious master with ensuite with dual vanity, and a walk-in closet. Space and functionality abound in this home. The loft brings options for additional bedrooms, office, or home gym. The backyard is tranquil facing a natural desert view.

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7347 E Casitas Del Rio Drive Scottsdale, AZ 85255

Open House

$699,000

3 Beds

2.5 Baths

1,956 SqFt

Status Active

MLS # 6752130

Property Type Townhouse

Price Type --

Finally!! Luxury interior unit in the exclusive community of Silverstone. This upscale executive home fees like it should be in Manhattan or LA with upscale finishes, high ceilings and amazing luxury features found in 2 million $ homes. This is one of those that rarely come on the market and you don't have to do anything to it. It's immaculate and clean and the pride of ownership makes it feel like a new home. The entry to the massive living area is stunning. Oversized island kitchen is adjacent to living area and is fit for a chef and seats at least 4 adults. The private patio off the dining area has a South facing exposure for our friends from the snow country. The oversized master suite is luxurious and welcoming with dual sinks, walk in closet and oversized shower, wow!!

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675 W Longhorn Drive Chandler, AZ 85286

Open House

$699,000

4 Beds

2.5 Baths

2,376 SqFt

Status Active

MLS # 6727788

Property Type Single Family Residence

Price Type --

The Enchantment located in Alma School Place w/ proximity to freeway, shopping and entertainment this newly updated one level home features a lovely back yard oasis with heated play pool, spa and ''Baja Shelf'' for tanning. Bordering properties are one level creating a more secluded private backyard. The home interior includes shuttered windows, gas fireplace, ceiling fans in bedrooms, den, and family room. ''Nest'' thermostats enable temperature control access even while away from home. Split bedroom floor plan allows master bedroom privacy. A two car garage connects directly to the house via a spacious laundry room w/ sink and storage, a separate single car garage offers plenty of additional storage. Kitchen includes walk in pantry and new stainless appliances. New A/C and exterior p

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36114 N Cerro Blanco Avenue Queen Creek, AZ 85140

Open House

$699,000

3 Beds

3 Baths

2,385 SqFt

Status Active

MLS # 6735124

Property Type Single Family Residence

Price Type --

Only a few lots left in the community to build of these most popular plans, don't lose out on this opportunity. Stunning open space behind you with dreamy sunsets, and warm winter sun all afternoon. This stunning plan that offers a 3-bedroom, 3-bath home plus den. This popular floor plan offers dual primary suites, each featuring beautifully tiled showers and upgrade bathrooms. The heart of the home is the gourmet kitchen, where you'll find an expanded countertop bar and sleek stainless steel appliances, making it an ideal space for entertaining or enjoying family meals. Situated on a private homesite, this property offers breathtaking sunset views. The backyard is a true oasis, complete with a custom pergola, perfect for outdoor gatherings or simply unwinding after a long day.

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