#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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12603 W Blackstone Lane Peoria, AZ 85383

$675,000

5 Beds

4 Baths

2,943 SqFt

Status Active

MLS # 6762420

Property Type Single Family Residence

Price Type --

Beautifully Upgraded 5 Bed 4 Bath home with attached Casita with a separate entry door. This move in ready home has 2943 Sqft. of total living space. There is one bedroom on the main floor, along with a separate bathroom that has a shower/tub combo. The Casita has an additional bedroom. The kitchen includes Granite Countertops, Stainless Steel kitchen appliances, upgraded kitchen cabinets, a spacious pantry, and kitchen island with separate breakfast bar. and a separate formal dining room. There is a large Great room for family enjoyment too. Upstairs has 3 bedrooms and a good sized loft with a separate small workspace/craftroom . The laundry room comes with extra storage cabinets. The backyard provides an extended covered patio with paver flooring. Next to it is a built -in, gated, private pool with water feature. The garage has built-in cabinets and a water softener connected to the main waterline. Located in the sought-after Vistancia community, residents enjoy access to a plethora of amenities including parks, trails, a gym, 3 pools, waterslides, tennis & pickleball courts!

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7639 W Mauna Loa Lane Peoria, AZ 85381

$675,000

4 Beds

2 Baths

2,327 SqFt

Status Active

MLS # 6762331

Property Type Single Family Residence

Price Type --

Step inside to find a beautifully designed interior featuring vaulted ceilings, granite countertops, and an open-concept kitchen with high-top bar seating—ideal for easy entertaining and gatherings. The family room flows seamlessly from the kitchen, providing a bright, inviting space for relaxation. Two charming bay windows fill the home with natural light, while French doors lead to a covered patio where you can enjoy the outdoors year-round. Outside, your personal oasis awaits, complete with a sparkling pool and mature landscaping, perfect for entertaining or simply relaxing. The mature landscaping offers both privacy and beauty, creating the ideal setting for summer barbecues or quiet evenings under the stars. With its vaulted ceilings, blinds throughout, and thoughtful touches like double sinks in both bathrooms and wood flooring in high-traffic areas, this home is move-in ready. Plus, its unbeatable prime location puts you just minutes from the 101 Freeway, Peoria Sports Complex, Arrowhead Mall, and an array of dining and shopping options. Whether you're hosting friends or enjoying a quiet night in, this home offers it all. Don't miss this rare opportunity to own a home in one of Peoria's most sought-after communities. Inquire within today its a must see!

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1372 E Carla Vista Drive Chandler, AZ 85225

$675,000

4 Beds

3 Baths

2,676 SqFt

Status Active

MLS # 6763242

Property Type Single Family Residence

Price Type --

Beautifully updated 4 bedroom, 3 bath home with a pool in a prime Chandler location—no HOA! With a new roof, high-efficiency HVAC units, and solar, this home is a must-see. It boasts a formal living and dining area, a spacious family room with a gas fireplace, flowing into a large kitchen with an island breakfast bar, eat-in area, ample cabinets, and granite countertops. The main floor includes a bedroom/office and a full bathroom. Upstairs, you'll find two generous bedrooms and a primary suite featuring double sinks, a separate tub and shower, and a walk-in closet. The backyard is an entertainer's dream, offering a large covered patio, sparkling pool, beautiful grass, built-in BBQ, and a beehive fireplace. Additional highlights include a 3-car garage with built in cabinets and a drive-through door to the backyard to an extended concrete pad. Conveniently located just a short walk from Pima Park, award-winning BASIS school and Sanborn Elementary schools minutes away, close to Intel, Wells Fargo Center, and Downtown Chandler.

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15802 N 71st Street Unit 256 Scottsdale, AZ 85254

$675,000

2 Beds

2 Baths

1,540 SqFt

Status Active

MLS # 6770000

Property Type Apartment

Price Type --

Welcome to the Landmark's supreme location flanking the Acacia Golf Course & walking distance to Kierland Commons! True resort-like living w/concierge, guard gate, porters, swimming pool, wine storage, BBQ, pizza ovens, aps, fitness w/lockers, pet are. Freshly painted spacious 2bed/2bath roomy dining, living, kitchen w/elevated finishes, appliances, travertine, granite. Large laundry room. Large covered patio w/views of McDowell Mountains. Two storage & Two parking spaces. Price includes most furnishings!

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177 S Ellison Road Coolidge, AZ 85128

$675,000

4 Beds

3 Baths

2,419 SqFt

Status Active

MLS # 6770194

Property Type Single Family Residence

Price Type --

This beautifully crafted 2021-built country home, set on a spacious two-acre lot, offers the perfect blend of modern comfort and rural charm. Spanning 2,419 sq. ft., the home features 4 bedrooms plus a versatile den/office, providing ample space for family, work, and guests. The master suite is a luxurious retreat, with an expansive bedroom, a spa-like bathroom complete with a large walk-in shower, and an oversized closet. The heart of the home is the gourmet kitchen, boasting a massive island, perfect for meal prep and gatherings, as well as an oversized pantry for all your storage needs. A dedicated laundry room offers additional storage space. Outside, enjoy the benefits of irrigated land, perfect for gardening or landscaping to your heart's content. This home offers country living at its finest, with modern amenities and plenty of room to grow.

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2700 N Horseshoe Street Unit 69 Flagstaff, AZ 86004

$675,000

2 Beds

2 Baths

1,557 SqFt

Status Active

MLS # 6772735

Property Type Townhouse

Price Type --

Discover the perfect AIR CONDITIONED home in the exclusive Saddleback Lodge at Continental Country Club! This fully furnished, SINGLE-LEVEL townhome invites you to unwind on a private deck with breathtaking golf course views surrounded by the serenity of mature trees and lush landscaping. Includes a 1-car garage, fireplace, stainless appliances appliances, and proximal to the clubhouse, restaurant, pools and resort amenities such as pickleball & fitness center. Whether for a weekend getaway or a long-term escape, this beautifully remodeled home offers unmatched comfort & convenience - an investment you will return to again and again! 2nd Bedroom currently being utilized as a den/office.

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4270 Blacksmith Way Wickenburg, AZ 85390

$675,000

2 Beds

2.5 Baths

1,999 SqFt

Status Active

MLS # 6770391

Property Type Single Family Residence

Price Type --

This beautifully upgraded Hotel California model in Wickenburg Ranch offers the perfect blend of elegance and functionality. Situated on a premium corner lot, the home features 2 bedrooms, 2.5 bathrooms, a rare find for this model, and an open floor plan designed for modern living. The upgraded kitchen boasts a large island and a premium gas stove package, ideal for home chefs and entertaining. The guest bedroom is thoughtfully extended by 2 feet, complete with an en suite bathroom for added privacy. The entire home showcases unique upgrades with stylish tile flooring, upgraded lighting fixtures, and ceiling fans throughout. Outside, the spacious backyard impresses with extensive landscaping and a large paver patio, perfect for outdoor gatherings. The three garage offers custom cabinetry, epoxy flooring, and a mini-split AC, providing extra comfort and storage solutions. This home is move-in ready with every detail meticulously planned for luxury living.

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4518 E Hopi Street Phoenix, AZ 85044

$675,000

5 Beds

3 Baths

2,399 SqFt

Status Active

MLS # 6777929

Property Type Single Family Residence

Price Type --

AHWATUKEE! South Mountain Views! 5 bedrooms! Pool! Corner lot! This wonderful home sits in the heart of Ahwatukee. Living here gives easy access to I-10, AZ 202, downtown Phoenix, Sky Harbor, ASU, Tempe & Chandler. This great location is close to South Mountain Park, dining, shopping, private park, public parks, golf, farmer's market and schools (public, private & charter). 5 bedrooms / 3 bathrooms / 2 car garage / pool / covered patio / solar is owned / kitchen island / privacy (corner lot with arroyo behind) / wood floors / open floor plan / many updates / gardening opportunity / in-ground fire pit. This fantastic home is waiting for you!

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6501 W Crocus Drive Glendale, AZ 85306

$675,000

4 Beds

3 Baths

2,561 SqFt

Status Active

MLS # 6772871

Property Type Single Family Residence

Price Type --

Take advantage of this charming tri-level home with no HOA! This beauty displays brick accents, a verdant front yard, a 3-car garage, and a courtyard. Be welcomed by an inviting living room adorned with vaulted ceilings, plantation shutters, and a trending palette complemented by beautiful wood-look tile flooring. Continue onto the lower level and find formal dining and sizable family rooms featuring a brick-wall fireplace, great for cold evenings. Kitchen is fully equipped with granite counters, white cabinetry, a tile backsplash, recessed lighting, a pantry, and a breakfast nook. Upstairs, the main retreat has plush carpeting, a pristine ensuite with dual sinks, and a walk-in closet. Out the back, you have a covered patio & a refreshing pool ready to enjoy. Don't miss out!

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7837 E Carefree Estates Circle Carefree, AZ 85377

$675,000

2 Beds

2.5 Baths

2,282 SqFt

Status Active

MLS # 6772979

Property Type Single Family Residence

Price Type --

Step into a beautifully renovated, single-level retreat, masterfully designed by a renowned architect. This modern oasis features a sought-after south-facing back patio, perfect for enjoying your morning coffee or grilling in the afternoon sun. Inside, you'll find two generously-sized master suites, offering versatile living options. The cozy den, with its expansive windows overlooking the serene surroundings, is an ideal space for a reading nook or a home office. Constructed with durable and timeless slump block, this home boasts abundant natural light, thanks to numerous windows. During cooler months, the inviting fireplace adds a touch of warmth and ambiance. Full-time resident or seeking a low-maintenance getaway, this home offers the perfect blend of comfort, style & ease of living

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4939 E Roberta Drive Cave Creek, AZ 85331

$675,000

3 Beds

2.5 Baths

2,016 SqFt

Status Active

MLS # 6775602

Property Type Single Family Residence

Price Type --

Updated 3 BR, 2.5BA home, den/office downstairs, game/media area upstairs, in the heart of Tatum Ranch. Stunning finishes throughout. All new master bath vanity & 2nd bath, luxury vinyl flooring & baseboards w entire interior painted. All new plumbing fixtures, door hardware, ceiling fans, lighting, 2'' blinds, updated front & back yard. Kitchen features stainless steel appliances, granite countertops, gas stove, soft close cabinets, under & above cabinet lighting! Master bath w dual sinks, soaking tub, walk-in shower, custom walk-in closet. Spacious low maint backyard w covered patio & synthetic turf. North/south oriented lot backing to a desert offers privacy. New garage epoxy floor, w/cabinets. Close to Desert Ridge, great schools, Dynamite park & shopping.

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3222 N Sagewood Circle Mesa, AZ 85207

$675,000

3 Beds

2 Baths

1,794 SqFt

Status Active

MLS # 6773702

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the desirable Las Sendas community of Mesa, AZ! This stunning single-level 3-bed, 2-bath residence boasts an updated kitchen featuring granite counters and a gas cooktop, perfect for culinary enthusiasts. Enjoy the airy feel of vaulted ceilings and sleek vinyl flooring throughout. The primary bedroom offers a cozy sitting room ideal for an office, yoga space, or nursery. Situated on a peaceful cul-de-sac lot, this home includes a spacious 3-car garage. Step outside to your private backyard oasis with a refreshing pool and a rooftop deck showcasing breathtaking mountain and sunset views. Plus, save on energy costs with the installed solar system. Don't miss out on this perfect blend of comfort and luxury!

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