#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.

#1 Answer to the Housing Shortage: New Construction | Simplifying The Market

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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13168 W Roy Rogers Road Peoria, AZ 85383

$689,000
4 Beds
3 Baths
2,153 SqFt
Status Active
MLS # 6766675
Property Type Single Family Residence
Price Type --
Discover your dream oasis in this stunning 4-bedroom, 3-bathroom home with a den, where comfort meets style! The cozy kitchen boasts beautiful granite countertops and modern stainless steel appliances, making it perfect for evening meals and entertaining. Enjoy modern updates throughout, enhancing both functionality and aesthetics of the gorgeous home! Step outside to a beautifully landscaped garden that offers a serene escape, complete with a sparkling pool and a cozy firepit—ideal for summer fun, weekend barbecues, or lounging under the stars. Plus, you'll love being just a 15-minute drive from Lake Pleasant, where you can enjoy outdoor adventures and water activities. This exquisite home is not just a place to live; its a lifestyle waiting for you!

9564 E Spiral Avenue Mesa, AZ 85212

$689,000
4 Beds
3 Baths
2,374 SqFt
Status Active
MLS # 6772288
Property Type Single Family Residence
Price Type --
Nestled in the heart of the highly sought-after Eastmark community, this remarkable home is the epitome of luxury and charm. From the moment you arrive, you'll be captivated by its stunning curb appeal, featuring elegant stone accents, a beautifully paved driveway, and lush landscaping that welcomes you home. This home is designed for those who appreciate the finer details, with every corner offering a touch of sophistication and warmth. Step inside and be greeted by the grandeur of soaring ceilings adorned with gorgeous wood beams, setting the tone for the upscale finishes you'll find throughout. The upgraded wood-look tile flooring seamlessly flows through the main living areas, while cozy Berber carpet in the bedrooms offers the perfect balance of style and comfort. The attention to detail is evident with modern baseboards that add a polished finish to every room. The gourmet kitchen is truly the heart of this home with beautiful gray stacked cabinets providing ample storage, while the Quartz countertops and a striking white herringbone subway tile backsplash make the space feel fresh and modern. The single basin sink and chic pendant lighting elevate the kitchen's style, and the expansive island is perfect for entertaining or casual family meals. This space opens effortlessly to the light-filled living room, where a large double slider invites the outdoors in, making it the ideal spot for gatherings or simply relaxing. The 8ft interior doors throughout the home add a sense of grandeur and elegance to the already open and airy floor plan. Retreat to the massive primary suite, where natural light floods in, creating a tranquil escape. The spa-inspired bathroom is a masterpiece, featuring a stunning hexagon tile design, a luxurious separate soaking tub, and a large walk-in shower with a rainfall shower head that promises relaxation and indulgence. Walk-in closets in every bedroom ensure ample storage for all your needs, while the additional flex space is perfect for a home office, playroom, or creative studio. For those who love outdoor living, this home is primed for future entertaining, with a 220V outlet in the garage and gas pre-plumbing in the backyard, perfect for building your dream outdoor kitchen or entertainment space. Living in Eastmark offers a lifestyle like no other, with its resort-like amenities including a luxurious community pool, exciting splash pads, beautifully manicured parks, and the charming Steadfast Farm, where you can enjoy farm-fresh produce right in your neighborhood. The state-of-the-art clubhouse, The Mark, hosts a variety of year-round events and family-friendly activities, ensuring there's always something exciting to do. This home is not just a place to liveit's a place to thrive, surrounded by beauty, luxury, and a vibrant community. Don't miss this incredible opportunity to make this stunning property your own!

131 E Jackshoe Trail Payson, AZ 85541

$689,000
4 Beds
3.5 Baths
3,000 SqFt
Status Active
MLS # 6629698
Property Type Single Family Residence
Price Type --
This piece of heaven is only minutes to Woods Canyon lake & the town of Payson. 1.5 hr from Mesa. Situated on an acre overlooking the Mogollon Rim & especially crafted to host family-friends + all rec toys ANY time of season. Ready to move in with ample space to entertain. This versatile floor plan boast all living on one floor w/ an additional walk out basement w/ a full bath & endless possibilities. Modern conveniences have been well thought-out including a lift, a brand new kitchen fridge, charming fireplaces in the great room & primary suite, heating/cooling system + vaulted ceilings with tongue & groove + wood beams & picture windows to take in the views. Large lot with separate garage , fire pit + quad storage, covered parking and much more. 3000 SF under roof + 1 acre of privacy!

22795 E Stacey Road Queen Creek, AZ 85142

$689,000
4 Beds
3.5 Baths
3,003 SqFt
Status Active
MLS # 6647162
Property Type Single Family Residence
Price Type --
This home is situated on a south facing home site, perfect for enjoying the outdoors! Boasting 4 bedrooms, 3.5 bathrooms, study, loft, and 3 car tandem garage! Build memories in the gourmet inspired kitchen, complimenting a wood hood, GE stainless steel appliances included with built in gas range, waterfall quartz island, and elegant tile backsplash. Enjoy the amenity rich community of Harvest, offering two swimming pools, catch and release fishing, walking trails, and more! Convenient location within Queen Creek, close to shopping and variety of new restaurants. Notice the difference in our engineering with 2x6 construction, 10 ft ceilings, large dual pane energy efficient windows, 8ft doors, and 5 ¼ baseboards. This incredible opportunity comes with an unmatched new home warranty!

5609 W Bullhead Road Eloy, AZ 85131

$689,000
2 Beds
2.5 Baths
2,215 SqFt
Status Active
MLS # 6674296
Property Type Single Family Residence
Price Type --
SELLERS ARE MOTIVATED! This newly built Miramonte home has many practical extras, including a four-foot extended two-car garage, a third garage with many cabinets, and a workbench. All three garages are insulated. Wholly owned solar for low utility bills. Plantation shutters throughout. There is more storage than average and a beautifully landscaped corner lot. The spacious and open floor plan is perfect for entertaining or just relaxing and doing nothing. The easy-maintenance kitchen has lots of cupboards and a large walk-in pantry. The backyard is truly an outdoor living space, fenced for privacy with a built-in gas natural gas stub for the BBQ for many enjoyable days and evenings enjoying the outdoors. Walking through the door, you will fall in love with this home.

26031 N Medelice Lane Rio Verde, AZ 85263

$689,000
3 Beds
2.5 Baths
2,479 SqFt
Status Active
MLS # 6686749
Property Type Single Family Residence
Price Type --
Location, Location, Location! Nestled in the heart of the beautiful Rio Verde active adult golf community, this custom territorial home is easy walking distance to the clubhouse for fine dining and meeting friends for pickle ball or golf The nearby community center offers a brand new workout facility, billiards room, and library. Enjoy meeting new friends at the Tennis, Bocce or Pickleball courts or go for a refreshing swim in the sparkling lap pool. This home is situated on an oversized lot providing ample privacy, Enjoy quiet evenings relaxing on your covered back patio with room to entertain large gatherings. This welcoming 3 bed/2.5 bath 2 car garage is being sold furnished. Enjoy premium Arizona living. Golf membership available, inquire with list agent or club.

22782 E Stacey Road Queen Creek, AZ 85142

$689,000
5 Beds
3.5 Baths
3,013 SqFt
Status Active
MLS # 6693700
Property Type Single Family Residence
Price Type --
Vibrant space & large windows make this 5 bed, 4 bath+ study and retreat home your dream home. The impressive gourmet kitchen provides the perfect environment for cooking & entertaining with oversize quartz island, shaker cabinets, designer-appointed tile backsplash & GE stainless appliances including 5 burner gas cooktop. Enjoy Arizona sunsets & weekend afternoons on covered patio with views from your family room through large energy efficient windows. Retire in style in the spa-like owner's retreat featuring a large walk-in closet, tiled walk in shower & upgraded quartz tops. Plank tile flooring, upgraded carpet and 8' doors throughout. EXTENSIVE NEW HOME WARRANTY. See you soon!

9336 W Running Deer Trail Peoria, AZ 85383

$689,000
3 Beds
2.5 Baths
2,878 SqFt
Status Active
MLS # 6742667
Property Type Single Family Residence
Price Type --
THIS GORGEOUS PROPERTY CAN EASILY BE CONVERTED TO A 4 BEDROOM HOME!! With 2878 sqft this home was completed in 2019 and boasts 3 spacious bedrooms, 2.5 luxurious bathrooms, and a versatile second primary closet that can easily be converted back to a 4th bedroom, flex space, teen room, hobby room, or playroom. The split floor plan offers privacy with secondary bedrooms sharing a Jack and Jill bathroom. This home exudes elegance. High-end finishes include custom cabinets, roll outs, wood-look tile, top-of-the-line appliances, 200 bottle wine fridge, whole home water filtration, video security system, plantation shutters, and much more. Extended glass slider opens to a stunning backyard which features a full-length covered patio, pavers, turf, fire pit and privacy hedg

16114 E Glenview Drive Fountain Hills, AZ 85268

$689,000
3 Beds
3.5 Baths
2,318 SqFt
Status Active
MLS # 6750440
Property Type Single Family Residence
Price Type --
This home boasts an excellent location, offering convenience and scenic beauty. With two spacious primary bedrooms, it provides comfort and privacy. The newly replaced roof and new AC system ensure energy efficiency, while the updated appliances add a modern touch. As the largest property in the neighborhood, the expansive backyard holds plenty of potential for customization or outdoor living. The stunning view of Four Peaks enhances the home's charm, and its proximity to shopping and the iconic fountain makes it ideal for relaxation and easy access to amenities.

7173 W Wethersfield Road Peoria, AZ 85381

$689,000
6 Beds
4 Baths
3,265 SqFt
Status Active Under Contract
MLS # 6765997
Property Type Single Family Residence
Price Type --
Fall in love with this stunning 6-bedroom gem! Greeted by a 3-car garage, cozy courtyard, and an RV gate, this home has it all. Inside, vaulted ceilings and tile floors create a welcoming atmosphere, while the spacious living/dining area is anchored by a cozy fireplace. Sleek kitchen features ample wood cabinetry, stainless steel appliances, wall ovens, granite counters, and a center island with a breakfast bar. Retreat to the main suite with backyard access and a private bathroom with dual sinks. The finished basement is perfect for entertaining with a wet bar, fireplace, and three additional bedrooms. There's even a separate guest suite with its own kitchen and a den perfect for an office. The expansive backyard offers a covered patio, gazebo, and room for a pool! Make it yours today!

17234 N 28th Street Phoenix, AZ 85032

$689,000
2 Beds
2.5 Baths
1,600 SqFt
Status Active
MLS # 6769039
Property Type Single Family Residence
Price Type --
A true Gem. A One-of-a-kind home that makes you feel like you are living in a resort. You could use home for a vacation rental or Air B & B. Has fully landscaped yard, low maintenance, fruit trees, Swimming pool with 3 waterfalls and a large Baja. Tile floors and 10' ceilings throughout, lots of cabinets, fans, quartz countertops, 2-12' sliding walls overlooking the pool, SW facing backyard, underground power, large 3 car garage, garden boxes, lots of decking, upgrades throughout the home. 8' interior doors. Electric blinds for sliding walls. Window coverings for all windows. 5 upgraded fan lights, wine fridge. Two master bedrooms. Horseshoe pit and more. Pre-wired for tank-less water heater. Powerful wall speaker sound system. Interior and exterior 4-wall mounted TVs Very Private and security gate means no one will ever come knocking on your front door that was not invited. Total privacy you will love. Owner will sell furniture. Great house for entertaining in. Pool set up for volleyball with two shallow ends 3.5 to 5 Will sell turn key for Air B & B if desired. House features: List of amenities and upgrades. Quite Location, no overhead power lines to worry about. Copies of clean pest control report and building inspection available. Minor stuff on punch list. 1) Two Bedroom, 2.5 baths. 10' foot ceilings throughout 2) Tile floors throughout and tile in master shower and guest bath area. 3) Tile backsplash in kitchen and bathrooms 4) All walls 2x6 framing except west wall which is 2x8 framing to accommodate two 12' sliding walls/windows. 5) The two 12' sliding window doors are on the west wall overlooking the pool area and waterfalls. 6) Large kitchen island and substantial cabinets through out. 7) All quartz counter tops 8) Pre-wired for instant hot water inline heater. 9) Ground mounted, 4 ton heat pump electric 10) Five upgraded fan lights and lighting fixtures 11) Upgraded toilets 12) Fully insulated garage. 13) Three car garage has two bays with 8' tall doors with power door openers. 14) Quality Low-e windows. 15) Upgraded front entry door Therma-Tru door. 16) Pre-wired for stereo speakers inside and out on back deck with wall mounted 55 TV on back deck and quality wall Speakers installed by pool and powerful Bowers & Wilkins 5 star rated speakers in living area around 70 TV. Incredible sound for Stereo, TV and Movies. 17) Foundation has complete footings/slab. Large covered back deck 18) 14' by 28' in-ground swimming pool with three waterfalls and Baja. 19) ¼ acre level lot 20) Six citrus fruit trees. 2-Mandarin, 1- Grapefruit, 2-Orange, 1-Tangelo, 1 Plumb, 2 Nectarine, 1-Peach and 1 Pineapple Guava bush. 21) Block wall fencing around entire property 22) All underground city utilities, water, sewer and electric APS 23) Custom blinds all windows including remote controlled, $4,000.00 electric shades for sliding walls. Roll down shade blinds for patio. 24) 200 AMP main panel and 60 AMP Sub Panel for pool & hot tub. 25) Insulation R-19 walls and R-38 ceiling 26) Backyard has best, south and west exposure 27) Underground drainage pipes/system to, 2 detention ponds for storm run-off. 29) 240 sq. feet of brick pavers for extra patio area and driveway pavers to concrete slap for three cars. 30) Wine fridge installed. 31) No two story houses to block sunlight around pool area. 32) Pool safety fencing and gate stored in the garage 33) Built in desk area 34) Built in oven, microwave, dishwasher all electric 35) 40 gallon electric hot water heater. 36) Upgraded sinks and faucets. 37) Two garden boxes on east side of the home. 38) $7,000.00 entry security/privacy electric remote controlled gate, also keypad entry. 39) Fully landscaped low maintenance yard with quality landscape filter to prevent almost all weeds. 38) Drip watering system for fruit trees and garden boxes. 39) Two Ship Lap walls, one second master bedroom and one in family room area. There are two master bedrooms suites. 40) Water service in garage for garage fridge with ice maker. 41) Very secure location with 100% block wall and security gate. Total privacy and no one will ever be able to come knock on your door uninvited. 42) Nice friendly helpful neighbor. 43) Just shy ¼ acre level lot. 44) Will sell furnished or unfurnished or just some items. 45) Location is close to Hwy 51 and the 101. 46) 8' interior doors. 48) 7' by 7' Caldera Spa. New electronics.

22660 E Lords Way Queen Creek, AZ 85142

$688,990
3 Beds
2.5 Baths
2,504 SqFt
Status Active
MLS # 6776889
Property Type Single Family Residence
Price Type --
MOTIVATED SELLER! Welcome to this serene 3-bedroom home featuring custom flooring throughout. This chef's dream boasts a spacious gourmet kitchen with quartz countertops, a custom hood range, extended cabinetry, and a butler's pantry. An entertainer's delight, the home offers a cozy fireplace, motorized blinds, in-ceiling surround speakers, and prewiring throughout the home and patio. Enjoy breathtaking views of the Superstition Mountains from both inside and out. The primary suite is a true retreat, complete with a soaking tub, an oversized floor-to-ceiling tiled shower with a rain showerhead, and a stunning mirrored barn door. The 3-car tandem garage features a beautifully epoxied floor. Located in a newly built community, this home is a perfect investment! Make an offer today!

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