#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

654 S Sabrina -- Mesa, AZ 85208

$679,000

6 Beds

3.5 Baths

3,980 SqFt

Status Active

MLS # 6736359

Property Type Single Family Residence

Price Type --

Discover elegance in this exquisite 6-bedroom, 3.5-bath home in Parkwood Ranch, just under 4000 sq ft. The gourmet kitchen boasts granite counters, white cabinets and stainless steel appliances. The master suite features a luxurious walk-in shower. Enjoy the expansive loft, perfect for a playroom. Outside, the sparkling pool, mature landscaping, and RV gate create a private oasis. This home seamlessly blends style and comfort for extraordinary living.

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219 E Palomino Court Gilbert, AZ 85296

$679,000

4 Beds

2 Baths

2,287 SqFt

Status Active

MLS # 6749829

Property Type Single Family Residence

Price Type --

Luxurious Remodel in Gilbert! Discover this beautifully updated single-level home in Gilbert, offering a perfect blend of comfort and style. Recent renovations include: Master Suite: Indulge in a spa-like retreat with a separate shower, freestanding tub, & dual sinks. Modern Secondary Bathroom remodel with new fixtures & finishes including Shower/tub. Enjoy a clean & inviting home with Gourmet kitchen, granite countertops & stainless-steel appliances with lots of cabinets & pull outs. Beautiful Gas Fireplace. Beautiful New 24x48 Tile Flooring & New Carpet. Fresh Interior and Exterior paint throughout. Energy Efficiency new HVAC condenser & water heater Aug 2024. Outdoor Oasis backyard features a newly resurfaced Pool & tile. Synthetic grass for low-maintenance enjoyment. Read additional Additional Highlights Spacious 4-bedroom Split Floor plan layout, 3-car garage, Cul-de-sac, Corner lot, N/S Exposure, new ceiling fans in all rooms, covered patio. All new 4in Baseboards throughout home. Convenient location near Downtown Gilbert & Lifetime Fitness, restaurants & shopping. Don't miss this opportunity to own a stunning, move-in-ready home in a desirable neighborhood.

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9635 E Natal Avenue Mesa, AZ 85209

$679,000

5 Beds

4 Baths

3,119 SqFt

Status Active

MLS # 6756889

Property Type Single Family Residence

Price Type --

Welcome to your dream home, located in the sought after Augusta Ranch community, home to Arizona's #1 executive golf course! This upgraded home has 5 bedrooms and 4 bathrooms with 2 of the bedrooms being luxurious dual masters, and 3 with walk-in closets and one upgraded larger master closet. Home has new flooring, all new tile gray herringbone downstairs and upstairs landing. Carpeting new in March of 2024. New thermostats installed, all new paint and new doors throughout. Kitchen has new counters, cabinets, backsplash and new appliances. Don't miss this charming home, see for yourself!

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6758 W Firebird Drive Glendale, AZ 85308

$679,000

4 Beds

3 Baths

2,524 SqFt

Status Active

MLS # 6763104

Property Type Single Family Residence

Price Type --

This Is It! Beautiful Home In Sierra Verde Community! 4 Beds + Bonus Room, 3 Baths, 2 Car Garage, Formal Living Room w/Plantation Shutters & High-Vaulted Ceiling, & Inviting Family Room That Opens To The Kitchen! Natural Light Filled The Interior, Complemented By Designer Paint, Tile, Etc. Gourmet Kitchen w/SS Appliances, Granite Counters, Recessed Lighting, Updated White Cabinets, Island, Breakfast Bar, & Bay Window In Dining Area. 1 Bedroom/Bath Downstairs, Upstairs Main Bedroom w/Bonus Room Perfect For Office/Gym, Remodeled Shower & Walk-In Closet. Oversized Corner Lot, Tons Of Privacy From The Mature Trees, Entertainer's Backyard w/Extended Covered Patio, Grassy Area, Storage Shed, & Sparkling Pool! Community Lake, Playgrounds, Basketball Courts, Close to 101 Freeway! N/S Exposure!

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7315 E Night Watch Way Prescott Valley, AZ 86314

New

$679,000

3 Beds

2 Baths

2,123 SqFt

Status Active

MLS # 6779660

Property Type Single Family Residence

Price Type --

Discover the exquisite Lupine Plan in the sought-after Stoneridge Golf Community. This home is in pristine condition, boasting a new roof and fresh paint on the exterior and interior as of August 2024. It features 3 bedrooms plus a bonus room, 2 bathrooms, and a 2.5-car insulated garage. Remodeled kitchen includes granite island, under-counter LED lighting, updated black stainless appliances, slide-out shelves, and a walk-in pantry. Paver stone driveway and walkway. High ceilings and custom barn doors. Solid surface flooring throughout. Both primary and secondary bathrooms have been beautifully remodeled. The garage has epoxy flooring, work area, water softener, and two 240 outlets for car charging or hobbies. Oasis of a backyard!! Extended, covered patio. See documents for features list.

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29129 N 227th Drive Wittmann, AZ 85361

$679,000

4 Beds

2 Baths

2,301 SqFt

Status Active Under Contract

MLS # 6693792

Property Type Single Family Residence

Price Type --

Welcome to this exquisite home nestled on a spacious 1-acre lot with breathtaking views in every direction! Prepare to be captivated by the charm and versatility of this property, where the possibilities are as endless as the horizon. As you enter through the RV gate and into the expansive backyard, you'll immediately notice the freedom and flexibility this property offers. Whether you're a car enthusiast, an outdoor adventurer with a collection of toys, or a horse lover seeking a place to call home, this property has it all. The centerpiece of this remarkable property is the massive workshop, a true haven for any handyman or DIY enthusiast. With two sections to explore, the main 36x30 shop is a masterpiece of craftsmanship, featuring heating and cooling, complete insulation, sturdy block wall construction, and 2X6 framed interior walls. Two 10-foot bay doors effortlessly accommodate up to six cars, ensuring that your projects are as ambitious as your dreams. The second attached shop, a 24x16 block structure with an 8 foot bay door and Evaporative Cooling, offers even more space for your creative endeavors. Indoors, the open-concept floor plan seamlessly blends elegance and functionality, with a chef's delight kitchen that will inspire culinary masterpieces. Featuring luxurious granite countertops, ample cabinet space, and a layout that invites seamless flow between the dining area and kitchen nook, this is a space where memories are made and culinary creations come to life. Don't miss the opportunity to make this extraordinary property your own - where every day is an adventure waiting to unfold, and every possibility is within reach. Come discover the endless potential of this remarkable home with views that will steal your heart and a workshop that will ignite your passions. Items updated: Roof recoated April 2024 (5 yr warranty); water heater March 2024 (preventative); security doors; dishwasher; carpet (3 yrs); shop exterior paint (3 yrs); landscaping (3 yrs)

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111 E Santa Lucia Lane Queen Creek, AZ 85140

Open House

$679,000

2 Beds

2 Baths

1,928 SqFt

Status Active

MLS # 6748591

Property Type Single Family Residence

Price Type --

When the builder released these lots they sold out on a waiting list. Homesites add significant value at ENC. This popular Refresh plan at Encanterra is ready for you to enjoy. Located on a prime homesite with no backyard neighbors, you'll love the breathtaking mountain views and serene palm trees, just steps away from the Algarve pool and restaurant. This stunning home has endless upgrades, including a gourmet kitchen, upgraded tile throughout, custom window treatments, and tons of built-in cabinetry. The luxurious tile showers, quartz countertops, and exquisite finishes make this home truly unique. Built-in bookshelves, wrought iron front door and stunning light fixtures are a few of the custom features you'll find in this home. The den makes a great home office or 3rd bedroom option.

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454 E Hackamore Street Mesa, AZ 85203

Open House

$679,000

3 Beds

2 Baths

2,052 SqFt

Status Active

MLS # 6778415

Property Type Single Family Residence

Price Type --

BRAND NEW REMODEL! This Modern Spanish Farmhouse is the one you've been waiting for! Completely upgraded, this home features a new 5-ton AC, fresh flooring, and a roof resealed with Kool Seal. The heart of the home is a chef's kitchen with a 6-foot island, waterfall countertops, and GE Profile appliances. LED dimmable lighting throughout, a real wood accent wall & shiplap, matte black exterior windows, and Respite blue shutters & door, add charm and style. Outdoors, enjoy lush, full-sized turf with a herringbone patio, epoxy garage floors, and ambient lighting. The purchase includes the pergola, hammock, and a seller-provided home warranty! Nestled in a peaceful neighborhood minutes from downtown and the 202, with access to an A-rated school district (as per Niche). A quality remodel!

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7178 W Rue De Lamour -- Peoria, AZ 85381

Open House

$679,000

4 Beds

2 Baths

2,651 SqFt

Status Active

MLS # 6747484

Property Type Single Family Residence

Price Type --

BEST HOME ON TOUR Beautiful 4-bedroom, 2-bathroom ranch-style home features a remodeled kitchen with LG appliances, a Bosch dishwasher, and custom cabinets with granite countertops. The living room includes a custom-built entertainment center, while the family room is perfect for relaxing with its cozy fireplace and adjacent bar. Both bathrooms have been tastefully remodeled, featuring custom cabinets, granite countertops, elegant custom mirrors, and luxurious Jetta tubs with custom shower enclosures. Anderson windows and wood shutters throughout the home provide both style and energy efficiency. A versatile room with custom cabinets, a walk-in closet, and a door to exterior, can be used as an office, second primary bedroom, or hobby room. The freshly painted exterior complements the beautifully landscaped front and back yards, with the backyard offering a fenced Pebble Tec pool and large covered patio, ideal for outdoor living and entertaining. additional highlights include LG washer/dryer in the laundry room and a 2-car garage with epoxy floors, ample storage cabinets, a workbench, and a sink. Located in the Oakwood school district, this home offers the perfect blend of comfort and convenience. NO HOA!

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2214 W Paso Trail Phoenix, AZ 85085

$678,990

3 Beds

2.5 Baths

2,567 SqFt

Status Active

MLS # 6715638

Property Type Single Family Residence

Price Type --

Farmhouse style Alta floorplan opens up to an expansive greatroom kitchen with stainless steel appliances includes gas cooktop, under cabinet hood, dishwasher, single wall oven and microwave with trim kit against white shaker style cabinet. Cabinet extras through out including a boxed-in refrigerator, gold cabinet hardware, and more. Luxurious quartz countertops and tile backsplash in kitchen. 8' interior doors, 4-1/4'' baseboards throught. 4-foot gate at rear of sideyard. 4-panel sliding glass door from great room to covered patio. Gas stub for BBQ at sideyard. Pavered corner covered entry. Modified master bath; includes walk-in shower with linen closet and executive height vanities with painted shaker style cabinets. Shower to include clear glass enclosure and cultured marble surrounds. Electrical upgrades include ceiling fan prewires, seperate switch pendant light prewires over kitchen island, upgraded gold vanity lights and more. 6x36 neutral tone wood look tile throughout first floor, and in laundry and secondary bath. Primary bathroom to include 14 white hex tile. Upgraded carpet and pad on stairs, in loft and bedrooms. Low voltage and plumbing upgrades throughout. And so much more! Union park offers tree-lined streets, pedestrian-friendly sidewalks and a 5,500 sf recreation center with resort style pool an kiddie pool, shaded ramadas, parks, gathering areas, pickelball courts and basketball. Close to I-10, 101 and 303. Walking distance to restaurants, movies, entertainment and shopping.

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3131 N Central Avenue Unit 4012 Phoenix, AZ 85012

Open House

$678,917

2 Beds

2 Baths

1,419 SqFt

Status Active

MLS # 6599088

Property Type Apartment

Price Type --

*Construction completed* 5% BUYER INCENTIVE! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom+ den condo is one of the larger two bedroom floor plans and offers ten ft. ceilings, an open floor plan, and large master bedroom with ensuite bathroom. Chefs kitchen offers expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Spacious balcony to capture the amazing views while outside as well. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful pool and lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.

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4297 E Bernice Street Gilbert, AZ 85295

$678,725

3 Beds

2 Baths

1,815 SqFt

Status Active

MLS # 6773956

Property Type Single Family Residence

Price Type --

This beautiful Capital Plan, 1815 sf single story home is a beautifully laid out with 3, bedrooms, open study with 2 baths. With a spacious great room with open gourmet kitchen. The master bedroom has a French door opens to a large covered patio and features a large walk in closet and a beautifully appointed master bath highlighted by a gorgeous spa shower. Beautiful plant tile flooring shows off the wonderful great room which opens to the outside with an all expansive 16'' atrium glass door. The gourmet kitchen features upgraded 42'' upper style cabinets with crown molding. The granite countertops are highlighted by the upgraded full tile backsplash. This beautiful home is amazing- shows like a dream!

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