#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

19550 N Grayhawk Drive Unit 1039 Scottsdale, AZ 85255

Open House

$699,000

2 Beds

2.5 Baths

1,645 SqFt

Status Active

MLS # 6760998

Property Type Townhouse

Price Type --

Welcome to Cachet at Grayhawk, nestled in the heart of Scottsdale, Arizona. This neighborhood offers a refined living experience with its exclusive guard-gated entry, ensuring peace of mind for all residents. Stroll or bike along the scenic paths that wind through the community, or start your day with a brisk tennis match followed by a refreshing dip in the community pool. For golf enthusiasts, a beautifully manicured golf course awaits, offering endless rounds of enjoyment. With soaring ceilings, this 1,645 square foot home has 2 spacious bedrooms and a den, 2.5 baths, and 2 car garage with additional storage. Mountain views from a covered patio are sure to delight on that crisp winter morning in Arizona. And the sunset and sunrise...simply amazing. Welcome to your new home!

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291 N Cottonwood Street Chandler, AZ 85225

Open House

$699,000

4 Beds

2 Baths

2,428 SqFt

Status Active

MLS # 6764613

Property Type Single Family Residence

Price Type --

Meticulously maintained home OVER 2400 square feet situated across from Tibshraeny Park in a highly desirable neighborhood of Cooper Ranch. Located in a favored Chandler area close to Costco, Sam's Club, Santan Village Mall, tons of shopping centers and restaurants with easy access to freeway. EXCELLENT SCHOOL DISTRICT. 4 SPACIOUS BEDROOMS and 2 full baths with DOULBE VANITY+ 2 LARGE FLEX ROOMS can be used as office or game room. . Laundry room with built in cabinets. TILE AND PLANTATION SHUTTER THROUGHOUT. Kitchen features granite counters and GAS RANGE. Easy to maintain backyard with orange tree. HEATED POOL AND SPA. NEWER INTERIOR AND EXTERIOR PAINT. Don't let this great property pass by you.!!

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192 W Los Arboles Drive Tempe, AZ 85284

Open House

$699,000

4 Beds

3 Baths

2,599 SqFt

Status Active

MLS # 6768498

Property Type Single Family Residence

Price Type --

Prepare to be captivated by this gorgeous 4-bedroom haven w/a 3-car garage that includes an EV charger in Pecan Grove Village! Perfect for entertaining & everyday living, the large living/dining room & the desirable great room enhance by a stone fireplace, surround sound, & sliding glass doors to the back patio, merging the inside-outside activities. High vaulted ceilings, wood-look flooring, plantation shutters, & stylish light fixtures add to the overall appeal. The kitchen is fully equipped w/abundant white cabinetry, SS appliances, mosaic tile backsplash, a pantry, & granite counters. The main retreat showcases a newly remodeled ensuite w/dual sinks, soaking tub, & a walk-in closet. Easy-care backyard offers an attached pergola for morning coffee or relaxing evenings. Don't miss

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2158 W Clearview Trail Anthem, AZ 85086

Open House

$699,000

4 Beds

2.5 Baths

2,666 SqFt

Status Active

MLS # 6768721

Property Type Single Family Residence

Price Type --

This stunning single-story Majesty model home offers 4 bedrooms, 2.5 bathrooms, and is set against the backdrop of breathtaking Daisy Mountain views. The property features a formal living and dining area, alongside an open-plan eat-in kitchen complete with stainless steel appliances, a large island, and ample cabinet space. The kitchen flows seamlessly into the dining area and spacious family room, creating an ideal layout for entertaining. The primary bedroom suite boasts an en-suite bathroom with dual vanities, a separate tub, and a walk-in shower. The resort-like backyard includes a covered patio, lush landscaping, and a sparkling pebble-finish pool with a tranquil waterfall feature. The property also offers a 3-car garage with abundant space for vehicles and storage. Anthem Parkside amenities include a community pool, tennis and pickleball courts, parks, and a wide range of recreational activities and events, providing a vibrant lifestyle for residents.

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18410 N 78th Drive Glendale, AZ 85308

Open House

$699,000

4 Beds

3 Baths

3,679 SqFt

Status Active

MLS # 6771453

Property Type Single Family Residence

Price Type --

This 4 Bedrooms, 3 Bathrooms, Double Door Entry, Large Open Great Room with Vaulted Ceilings & French Doors to Exterior, Fireplace, Lots of Natural Light, Separate Formal Dining Area & Tile Throughout is located in the Highly Desirable neighborhood of Hidden Manor. The Gourmet Kitchen includes a large Island, Lots of Cabinet Space, Dual Oven, 4-Door Refrigerator & Breakfast Area. Additional Family Room leads to side exterior door. With nearly one acre, the backyard is your private escape. It showcases an extended covered patio, full outdoor kitchen, fruit trees, beautiful Koi Pond with mature Koi Fish, Pond Bridge, Lots of Vegetation, Gardening Square & Private Sitting Area. Near Arrowhead Elementary School, Arrowhead Mall, Restaurants, Shopping, Entertainment, Easy Access to Loop 101.

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16450 W Desert Wren Court Surprise, AZ 85374

Open House

$699,000

2 Beds

2 Baths

1,850 SqFt

Status Active

MLS # 6751366

Property Type Single Family Residence

Price Type --

Welcome to this stunning, fully remodeled Palo Verde located on the 14th green of Desert Springs Golf Course. This home boasts a desirable split bedroom floorpan with recent 2022 updates including a new roof underlayment, fully owned solar, and heat radiant windows. The new 5-ton HVAC system ensures year-round comfort. Enjoy modern luxury with new flooring throughout, 5 inch baseboards, windows with custom trim, and fresh interior and exterior paint. The beautifully renovated primary bathroom features a luxurious shower and a custom California Closet. The kitchen is equipped with new appliances and elegant quartz countertops. The updates continue with all interior doors upgraded to stylish 2-panel designs with new hardware. The exterior features fresh cool decking and an epoxied garage.

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7923 E Hubbell Street Scottsdale, AZ 85257

Open House

$699,000

4 Beds

3 Baths

1,976 SqFt

Status Active

MLS # 6714223

Property Type Single Family Residence

Price Type --

Welcome to the Home on Hubbell, a charming mid-century modern gem in the heart of South Scottsdale. This 1976 sq ft home seamlessly combines style and space. The remodeled kitchen features quartz countertops, shaker-style cabinetry, open shelving and a gas cooktop. A large butler pantry doubles as an indoor laundry and direct access from the 1 car garage...if you know South Scottsdale you know these are two huge bonuses! No car port here! The mid-century style of this home is complemented by stained concrete flooring and fresh interior paint. The versatile floor plan includes 4 bedrooms and 3 bathrooms, with a dual master layout perfect for multi-generational living, a roommate setup, or even a vacation rental. The sandblasted brick exterior and reimagined outdoor desert landscaping add to this home's Frank Lloyd Wright-inspired curb appeal. The lush backyard is truly a desert oasis, it's as if you are on vacation in Palm Springs, featuring a beautiful pebble-tech pool. Located just minutes from Old Town Scottsdale, Loops 101 and 202, Sky Harbor and ASU. The Home on Hubbell truly encompasses Scottsdale living with prime location and accessibility.

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8952 E Palm Ridge Drive Scottsdale, AZ 85260

Open House

$699,000

3 Beds

2 Baths

1,602 SqFt

Status Active

MLS # 6685794

Property Type Townhouse

Price Type --

Within in the heart of Eagle Point, the immaculate Townhome features maintenance free living, vaulted ceilings in every room, spacious bedrooms, separate living room and abundant closets. Everything inside is NEW down to the water valves. New roof in 2023. Complete remodel in 2020 of the kitchen, bathrooms, windows, doors and sliders, floors, and paint. HOA covers entire front landscaping and Community Pool. Home warranty included! This special Scottsdale property won Best Home on Tour! Walkability is a 10+, convenient to parks, freeways, shopping and dining. Move in today and entertain your family and friends this weekend. Embrace the Scottsdale lifestyle you deserve!

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4923 N 205th Glen Buckeye, AZ 85396

Open House

$699,000

2 Beds

2.5 Baths

1,825 SqFt

Status Active

MLS # 6756989

Property Type Single Family Residence

Price Type --

GOLF COURSE VIEW, MOUNTAIN VIEW, CITY LIGHTS, POOL, and COVERED PATIO!!! Got your attention now? Nestled in the tree-lined streets of Victory at Verrado (phase 2) is this beautiful 1,825 square foot Promenade floor plan. The cozy front porch is perfect for enjoying the peaceful surroundings or a morning coffee in the shade. Inside, you'll find wood-look tile flooring, and carpet in the bedrooms, adding a touch of elegance to each space. The kitchen features cooktop, double wall ovens, quartz counters, backsplash, and pendant lights. There are extra cabinets in the pantry/laundry room adjacent to the kitchen for ample storage. The light fixtures, sinks, faucets, & ceiling fans throughout the home create an upscale yet warm and inviting atmosphere.

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25928 N 22nd Lane Phoenix, AZ 85085

$698,990

3 Beds

2.5 Baths

2,567 SqFt

Status Active

MLS # 6758375

Property Type Single Family Residence

Price Type --

Located across from Heirloom Park, this Alta floor plan offers stylish curb appeal with the Spanish Farmhouse elevation, pavers at the walkway and driveway, and front yard turf and desert landscaping package. The interior features 2567 square feet on 2 levels, 3 bedrooms 2.5 bathrooms, and 2 car garage. Open concept floorplan with 9-foot ceilings and 8-foot doors. The kitchen features quartz countertops, silver grey painted shaker style cabinets with matt black hardware, stainless steel gas 5-burner cooktop, under cabinet hood, wall oven and microwave and 5 cycle dishwasher. Primary with on-suite bathroom featuring modified shower with marble surround, matching shaker style cabinets, and walk-in closet. Spacious laundry room located upstairs near bedrooms. Split concept bedroom layout with 2 bedrooms and a full bath on the opposite side of the upstairs loft from the primary suite. 6x36 natural wood look tile and upgraded carpet and pad. Ceiling fan prewires in bedrooms and pendent light prewires with a separate switch over the island in the kitchen. There is also a 4-panel sliding glass door to the side yard and gas BBQ stub. Tree-lined streets, pedestrian-friendly sidewalks, and a 5,500 sf recreation center with resort-style pool and kiddie pool, shaded ramadas, parks, gathering areas, pickleball courts and basketball. Close to I-17, 101, and 303. Walking distance to restaurants, movies, entertainment, and shopping.

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945 E Missouri Avenue Phoenix, AZ 85014

$698,900

3 Beds

3 Baths

2,003 SqFt

Status Active

MLS # 6772900

Property Type Single Family Residence

Price Type --

Welcome to your new charming 1950s home located in the heart of the highly desirable North Central Phoenix corridor! This Mid-Century Modern, single-story gem sits on a spacious lot in a prime location. The updated kitchen features sleek granite countertops, crisp white cabinetry, a stylish backsplash, and stainless steel appliances. With ideal North/South exposure, the expansive backyard is a perfect oasis, complete with a covered patio for relaxing, entertaining, and enjoying the Arizona outdoors. The open space offers plenty of potential for expansion or recreation. Surrounded by excellent dining, vibrant nightlife, and great shopping, this stunning property offers an unbeatable lifestyle. Don't miss this opportunity!

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2004 E Brigadier Drive Gilbert, AZ 85298

Open House

$698,900

5 Beds

2 Baths

2,375 SqFt

Status Active

MLS # 6723809

Property Type Single Family Residence

Price Type --

This beautifully upgraded 5-bedroom, 2-bathroom home in the highly sought-after Adora Trails community in Gilbert, Arizona, was just voted ''Best Tour'' and is ready for its next owners. The single-story floor plan offers stylish design and modern comforts, with a completely remodeled kitchen (2021) featuring an induction cooktop and sleek finishes. The master bathroom has also been beautifully updated, adding a touch of luxury to the home. Plantation shutters throughout add charm and functionality, while the private backyard provides a peaceful retreat.The sellers are incredibly motivated and eager to get this home sold! If you've been considering a move, now is the perfect time to make an offer. Don't miss your chance to own this stunning property in this desirable community. The kitchen features upgraded wood cabinets, gourmet appliances, and an induction cooktop. Bonus Flex Room (2021): Can be used as a fifth bedroom, playroom, workout room, or office. Designer Beams: Adds a touch of sophistication to the main room. RV Gate: Ample parking with an expanded driveway and concrete pad. Custom Backyard: Features an added patio and pergola for outdoor enjoyment. Modern Amenities: Solar tube skylights, modern light fixtures, and ceiling fans. Situated adjacent to a grassy common area, providing a serene and spacious environment. Located in the highly sought-after Gilbert area with excellent schools. Close proximity to shopping, freeways, and miles of walking trails. This home offers an exceptional blend of modern upgrades and practical amenities, making it perfect for families or anyone looking for a spacious and well-appointed living space in a vibrant community. Don't miss out on this incredible opportunity!

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