#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

6331 W El Cortez Place Phoenix, AZ 85083

$694,500

4 Beds

2.5 Baths

3,131 SqFt

Status Active Under Contract

MLS # 6775130

Property Type Single Family Residence

Price Type --

WELCOME HOME! This home has it all; 4 beds, 2.5 baths with 2 separate loft areas, on a CUL-DE-SAC with a 3 car garage! The beautiful gourmet white kitchen with custom glass backsplash overlooks the spacious family room with access to the paradise oasis that awaits outside. Enjoy your time outside swimming, enjoying a relaxing spa, or gathering between 2 fire features with family and friends over bbq's and s'mores. The master bedroom has a private balcony to enjoy mountain and city light views or to enjoy a good book. The home is neutrally appointed with updated baths, flooring and kitchen. 2 AC's replaced in 2022! Home is close to shopping and eateries for your enjoyment. Spacious garden beds allow you to grow your own veggies and enjoy farm to table living. Low HOA. Come see it today!

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4283 E Bernice Street Gilbert, AZ 85295

$694,180

3 Beds

3.5 Baths

1,869 SqFt

Status Active

MLS # 6773948

Property Type Single Family Residence

Price Type --

This beautiful Cavalcade plan, 1869 is our most popular plan of our Seaboard Homes, Beautifully laid out with 3 bedroom and 3.5 baths and spacious great room and open gourmet kitchen. The master bedroom has a French door to a large covered patio and features a roomy walk in closet and a beautifully master bath highlighted by a gorgeous spa shower. Beautiful wood look - Luxury Vinyl Plank flooring shows off the wonderful great room which opens to the outside with an expansive 16'' atrium glass door. The gourmet kitchen features upgrade cabinets with upgraded crown molding. The Quartz countertops are highlighted by the upgraded tile backsplash. This home shows like a dream!

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34327 N Sandpiper Trail San Tan Valley, AZ 85144

$694,161

3 Beds

2.5 Baths

2,553 SqFt

Status Active

MLS # 6726633

Property Type Single Family Residence

Price Type --

Welcome to this gorgeous home in Emblem at Oro Ridge boasting a well thought out great room floorplan, and a 3 car tandem garage with service door! The gourmet chefs kitchen is stunning with quartz countertops, a waterfall kitchen island with a breakfast bar, Urban Coffee Cabinets, stainless steel appliances, and a pantry. The primary suite is spacious with a lavish ensuite featuring a dual sink vanity, walk-in shower, and a walk-in closet. Bedrooms 2 and 3 are spacious! Plus a den! The backyard is huge!

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3009 E Hemberg Drive Flagstaff, AZ 86004

$694,000

3 Beds

2.5 Baths

2,223 SqFt

Status Active

MLS # 6693899

Property Type Single Family Residence

Price Type --

Nestled amidst the breathtaking landscapes of Flagstaff, Arizona, in the esteemed Swiss Manor neighborhood, this enchanting property offers a harmonious blend of natural beauty and living. Situated near the majestic mountains, this residence boasts a prime location for outdoor enthusiasts and nature lovers alike. Step inside this spacious abode to discover a thoughtfully designed layout featuring three bedrooms plus a den, providing ample space for relaxation and productivity. With two bathrooms, including one ensuite, convenience is paramount in this mountain retreat. Ascending through the three stories of this home, you'll find yourself immersed in a world of comfort and style. With five interior levels, each offering its own unique ambiance and purpose, there's no shortage of space for living, entertaining, and unwinding. Whether you're enjoying the panoramic views from the topmost level or cozying up by the fireplace in the family room, every corner of this home exudes warmth and tranquility. Embrace the allure of mountain living while still enjoying the convenience of amenities and easy access to Flagstaff's vibrant community. With its captivating surroundings and versatile living spaces, this property offers the perfect opportunity to embrace the Flagstaff lifestyle and create cherished memories for years to come. Don't miss your chance to make this mountain retreat your own slice of paradise.

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6608 N Cima Vista Drive Casa Grande, AZ 85194

$694,000

3 Beds

2.5 Baths

2,393 SqFt

Status Active

MLS # 6710519

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This exquisite 3 bedroom, with a versatile den, 2.5-bathroom residence offers 2,393 square feet of luxurious living space, situated on a sprawling 1-acre lot with no rear neighbors. The stunning natural surroundings offer unparalleled desert, mountain, and sunset vistas, creating a serene and picturesque backdrop for your new home. The interior features a spacious great room that flows seamlessly into a gourmet kitchen, making it perfect for entertaining. The kitchen boasts upgraded stainless steel appliances, granite countertops, 42-inch soft-close cabinets, a walk-in pantry, an island with breakfast bar seating, and elegant pendant lighting. The private owner's retreat serves as a tranquil escape, featuring a large en-suite bathroom with a dual sink vanity, an oversized walk-in tiled shower, and a generous walk-in closet. Additional bedrooms and a den provide ample space for family, guests, or a home office, with luxury vinyl plank flooring in all bedrooms, plus ceiling fans throughout. This home also includes a massive 47x15 ft RV garage, an additional 2-car tandem garage, and a 1-car garage, complete with an RV clean-out located right outside the RV garage. Tons of natural light flood the home, highlighting the upgraded lighting fixtures, door hardware, and the brand new Polywood Plantation Shutters installed throughout. Tile plank flooring in the common areas and stylish 2-tone paint enhance the modern convenience and aesthetic appeal. The exterior of this property is just as impressive, with its expansive 1-acre lot providing privacy and space for outdoor activities. A small section of the backyard is fenced in with Vinyl fencing, plus enjoy the covered patio with ceiling fans installed to help keep you cool! This home is the perfect blend of modern luxury and natural beauty. Please do not show up to the property unannounced!

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26119 S 196th Street Queen Creek, AZ 85142

$694,000

3 Beds

2 Baths

1,571 SqFt

Status Active

MLS # 6738050

Property Type Single Family Residence

Price Type --

Discover your dream equine retreat in the heart of Queen Creek! This charming country farmhouse is nestled on 1.2 flat acres of premium horse property, offering breathtaking views of the majestic San Tan Mountains. Situated on a County Island with no HOA, this home is designed with horse enthusiasts in mind. The property features three shaded stalls, an expansive grooming and tack area, and a nearly new tack shed, ensuring all your equestrian needs are met. Enjoy the generous turnout and riding area, complete with a 50-foot round pen that's perfect for training and exercise. The inviting farmhouse has recently undergone thoughtful renovations, including fresh paint, new vinyl flooring, contemporary baseboards, a stylish breakfast bar, and new blinds throughout the home. The guest bathroom has also been beautifully remodeled, adding to the home's charm and functionality. This property is truly a haven for horse loversbring your horses, your toys, and make this picturesque home your own! Located just minutes from Horseshoe Park & Equestrian Center, miles of picturesque riding trails, and an abundance of shopping and dining options, you'll have everything you need right at your fingertips. Don't miss this exceptional opportunity to own a slice of equestrian paradise, where country living meets city convenience!

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501 W Surrey Avenue Phoenix, AZ 85029

$694,000

4 Beds

2 Baths

2,581 SqFt

Status Active

MLS # 6755688

Property Type Single Family Residence

Price Type --

NEWLY REDUCED!! Don't miss this beautifully remodeled gem! Nestled in the highly sought-after Moon Valley neighborhood on a large spacious 0.23-acre corner lot, this 4-br, 2-bath home is updated with no detail overlooked. A split floor plan, 3 large bedrooms and a large primary suite with a relaxing ensuite bath features a separate shower and sunken tub. This home has been lovingly cared for and immaculately maintained, showcasing modern upgrades while preserving its charm. The expansive backyard provides endless opportunities for outdoor entertainment, relaxation, or even adding a future pool. A large covered patio offers plenty of shade and the perfect spot to enjoy breathtaking views of North Mountain. Enjoy easy access to hiking trails. Close to elementary, middle and high schools.

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15416 W Valentine Street Surprise, AZ 85379

$694,000

4 Beds

3.5 Baths

3,523 SqFt

Status Active

MLS # 6768034

Property Type Single Family Residence

Price Type --

Welcome to Marley Park! This desirable subdivision is well known for its amenities and sense of community. This absolutely gorgeous and well taken care of 3500+ sq ft home is one of the largest if not the largest single story home around. Home sits on a premium lot adjacent to Discovery park. Unique split floor plan is great for families, featuring a complete guest suite in front of the home and a secluded office in the master suite. Beautifully appointed kitchen featuring granite countertops, travertine backsplash, staggered cabinets, island with breakfast bar, and newer stainless steel appliances. Long list of features including: AC units 1 year old - 3 car tandem garage - Extended paver patio - Built in fire pit with seating area - Tuff shed - upgraded lighting and plumbing fixtures - newer interior paint - artificial turf in the front and back yard. Huge master suite with dual vanities, walk in shower, garden tub with attached office. If you are looking for a great place to raise a family, this home and community offers just that. Come visit today.

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5444 E Crescent Avenue Mesa, AZ 85206

$694,000

4 Beds

2.5 Baths

3,032 SqFt

Status Active

MLS # 6767756

Property Type Single Family Residence

Price Type --

Your dream home is within reach! Discover this beautiful 4-bed 2.5 bath home with a Pool, RV parking and, No HOA! Be greeted by a beautiful spacious courtyard w/skylights & exposed beams! Inside, you'll find a formal dining & a living room w/beehive fireplace & beamed ceiling. Continue into the open AZ room w/dual French doors & the lovely family room overlooking the kitchen. Delightful kitchen has ample cabinetry, a tile backsplash, SS appliances, & a pantry. The versatile den is ideal for an office or craft room ! The main bedroom offers access to its own patio area, a walk-in closet, & an ensuite w/two vanities. Entertainer's backyard boasts covered patio w/Ramada extended, built-in BBQ w/wet bar, refreshing pool, outdoor shower, & garden area, garage has built in workbench. Must see!

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23104 E Carriage Way Queen Creek, AZ 85142

$693,796

5 Beds

4 Baths

2,659 SqFt

Status Active

MLS # 6707568

Property Type Single Family Residence

Price Type --

JUST REDUCED!! FANTASTIC GREAT ROOM LOFT PLAN WITH MAIN BEDROOM DOWN, 5-BEDROOM, BEAUTIFUL FINISHES! SPA SHOWER IN MASTER, UPGRADED PAINTED TAUPE CABINETS, QUARTZ KITCHEN TOPS,, TILE BACKSPLASH,, GOURMET KITCHEN LAYOUT, UPGRADED VANITIES IN BATHS,, LVP FLOORING EVERYWHERE, EXCEPT BEDROOMS AND LOFT. ALL THIS, IN THE NEW PREMIER MASTER PLAN COMMUNITY, IN QUEEN CREEK, FEATURING A 22 ACRE LAKE. THIS IS THE CENTERPIECE OF THE COMMUNITY. KAYAKING AND CANOEING, AQUATIC CENTER WITH LAP AND SPORT POOL SPLASH PAD, BOCCE BALL, PICKLE BALL, BOARDWALKS AND RAMADAS THROUGHOUT AND MUCH MORE.. THE HOME INCULDES 2'' FAUX WOOD BLINDS, CEILING FANS, TANKLESS WATER HEATER+++ KATHERINE MECHAM BARNEY SCHOOL IN THE COMMUNITY.

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44615 N 44th Drive New River, AZ 85087

Open House

$693,305

4 Beds

2.5 Baths

2,745 SqFt

Status Active

MLS # 6756287

Property Type Single Family Residence

Price Type --

Welcome home to the popular Martina floorplan. This home welcomes you with an inviting courtyard, inside you'll find a split floorplan with 3 generously sized secondary bedrooms and walk in closets, a retreat in nestled in between these secondary bedrooms to use as an office, den, playroom or second living space. This home is architecturally upgraded with a gourmet kitchen, owners bath oasis featuring a drop in soaking tub, and a 12 foot center sliding glass door drawing you into the backyard. Designer features such as neutral wood plank tile flooring, bright white colored cabinets, decorative backsplash and quartz countertops finish off this highly upgraded home.

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2527 W Josselyn Drive Flagstaff, AZ 86001

$693,000

4 Beds

3 Baths

2,280 SqFt

Status Active

MLS # 6776261

Property Type Townhouse

Price Type --

Totally loaded townhome with all the right upgrades & designer touches to make this home a real star. The main floor living room features a floor-to-ceiling tile gas fireplace & loads of windows. Gourmet island kitchen with executive height seating, charcoal cabinets & quartz counters. Upstairs is a large bonus room, & the primary bedroom features a designer-touched en-suite, a walk-in closet & private deck for enjoying the mountain views. This home has three more bedrooms & 2 full baths, so there is room for everyone. Standout upgrades: AC, 6'' baseboards, 9' designer black doors, tile floors, custom blinds, soaking tub, gas line for BBQ in the rear private patio, upgraded lighting fixtures, heated toilet seats, and all stainless appliances.

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