#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

36076 N Vidlak Drive San Tan Valley, AZ 85143

$675,000

4 Beds

3.5 Baths

3,939 SqFt

Status Active

MLS # 6750864

Property Type Single Family Residence

Price Type --

**Seller will consider paying some concessions for buyer to buy down their interest rate, etc. ** Wow! Almost 4000 livable square feet. This home features 4 Bedrooms plus A Den, A Loft and An Entertainment/Game Room, 3.5 Baths and a Split 3 Car Garage. Very Nice Home that is Ready for you. Granite Countertops in Kitchen. White Staggered Shaker Cabinets with Pull Handles. Gas Cooktop. Mosaic Backsplash. Big Walk In Pantry. Center Island with Breakfast Bar. Stainless Steel Appliances. Refrigerator, Washer & Dryer are All Included. Tall Baseboards Throughout. Wood Like Flooring along with Beautiful Carpeting. Inviting and Manicured Backyard with Views.

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29621 N 129th Lane Peoria, AZ 85383

$675,000

2 Beds

2 Baths

1,580 SqFt

Status Active

MLS # 6760570

Property Type Single Family Residence

Price Type --

STUNNING 'Monaco' model located on a gorgeous WASH LOT with partial GOLF COURSE VIEWS. This home has 2 Beds, 2 Baths + Den. Large, open floor plan is perfect for entertaining.Kitchen includes NEW LG French-door refrigerator, Premium Staggered Cabinets w/ convenient roll out drawers, trash/recycle, large pantry and R/O. PRIVATE BACKYARD boasts a COVERED PATIO with lovely TRAVERTINE Pavers. Patio overlooks a gorgeous HEATED POOL WITH WATERFALL, with Desert WASH & Partial GOLF COURSE view. FULLY FENCED wrought iron view fence. Resort living at its finest. PREPAID LEASED SOLAR-6.16 kW (Installed 2014) SheaXero Energy Efficient. EXTERIOR HOME, Fence & Garage Door PAINTED 2023. 4 FT. EXTENSION in garage, Epoxy & built in CABINETS, Softwater System & Pedestrian Door. Incredible CURB APPEAL! PAVER FRONT WALKWAY/PORCH, professionally landscaped with artificial turf in the front & back with PVC drip system & automatic timer. The den includes CUSTOM BUILT-IN bookshelves, work area, filing cabinet that overlooks the exquisite backyard & endless views. Both Bedrooms include CALIFORNIA CLOSETS Custom organizing systems, NEW TILE in Primary Bed and great views of backyard. Great Room has Custom built-in entertainment media center with crown molding, Surround sound with subwoofer. Perfect for entertaining inside & out. Make this dream home your own. This home is located in award-winning gated, 55+ Trilogy at Vistancia with 5-star-resort style amenities at the 35,000 SF Kiva Club with indoor & outdoor pools, fitness center, day spa, cafe, billiards, meeting rooms, library, tennis courts, pickle ball, bocce ball, events & a plethora of activities to choose from. Outstanding Gary Panks-designed golf course is woven throughout the original part of the neighborhood. The Mita Club has additional outstanding community amenities. Easy access from Trilogy to the 303, shopping, restaurants, entertainment, Lake Pleasant & Paloma Park, Peoria's huge community park loaded with amenities.

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1176 E Erie Street Gilbert, AZ 85295

$675,000

4 Beds

2 Baths

2,136 SqFt

Status Active

MLS # 6753945

Property Type Single Family Residence

Price Type --

This 4-bedroom, 2.5-bathroom gem in the heart of Gilbert is MOVE IN READY with a NEWER AC and NEWER hot water heater, giving you serious energy savings! Step inside and prepare to be wowed by the open-concept living area - perfect for all the cozy nights in or lively get-togethers! The gourmet kitchen has granite countertops, modern white cabinets, HUGE pantry and a big island. But the real showstopper? The backyard! This outdoor space is next level. With a fenced pool, TWO outdoor sheds, an outdoor bar and grill and a covered patio! & don't forget about the the garage with built-in cabinets! Plus there's a laundry room just off the entrance with a built-in beverage fridge! Located in a prime Gilbert neighborhood with easy access to top schools, shopping, and dining.

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1702 E Libra Drive Tempe, AZ 85283

$675,000

4 Beds

2 Baths

2,890 SqFt

Status Active

MLS # 6754260

Property Type Single Family Residence

Price Type --

This spacious 4 bedrooms, 1.75 bathrooms home is nestled on a large, corner lot at the end of a cul-de-sac with No HOA. Home has a 2 car garage, additional 2 car slab parking AND RV gate with lots of space to park an RV or recreational toys. Home features formal living and dining rooms plus a family room with wood-burning fireplace. The kitchen overlooks the family room and has granite countertops, breakfast bar and stainless steel appliances. The primary bedroom has en suite bathroom and French doors that lead to the backyard. The backyard is built for entertaining with built-in grill and bar and expansive covered patio. There is a full-on workshop in the backyard with power and lights. Convenient Tempe location and short walk or ride to K-12 schools, city parks, bus stop or Tempe's Orbit transit stop. Within a pedestrian & bike friendly community, home is a short distance the Western Canal path & Tempe Kiwanis Park. Just minutes from major shopping, dining, East Valley freeways, ASU Research Park approximately 20 minute commute to Sky Harbor Airport and so much more!

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3125 W Steinbeck Drive Anthem, AZ 85086

$675,000

3 Beds

2.5 Baths

2,469 SqFt

Status Active

MLS # 6756716

Property Type Single Family Residence

Price Type --

Step into this breathtaking, upgraded property designed to impress from the moment you arrive! Spacious, elegant, paved front courtyard. Enter the cathedral ceiling entry to 24x24in diagonal tile that adds a touch of sophistication. Stunning, custom, kitchen has pendant lighting, glass decor iron pantry door, stylish backsplash, granite counters, extra large copper sink and so much more. Master has high ceilings & private exit to the backyard. Master BA has walk-in glass obscured shower w/ separate bath, double decorative glass sinks. The backyard is on a premium lot adjct to wash, w/ pavers, built-in bbq grill, & built-in seating for outdoor entertaining. Two guest rooms plus versatile bonus room upstairs. Garage has separate exit & mahogany cabinetry. Attention given to every detail!

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44421 N 12th Street New River, AZ 85087

$675,000

4 Beds

2.5 Baths

2,219 SqFt

Status Active

MLS # 6769371

Property Type Single Family Residence

Price Type --

Discover the perfect blend of comfort and nature with this stunning 4 bed, 2.5 bath territorial home. Nestled in the serene landscape of New River, this property offers breathtaking views of the surrounding mountains and open spaces. Living/dining areas are separated from the kitchen/family room, maximizing comfort and functionality. Thee spacious kitchen has a gas range, upgraded cabinetry, granite counters and beautiful stainless steel appliances. The whole house generator ensures uninterrupted power supply, adding convenience and peace of mind. Ideal for horse enthusiasts, featuring ample space for corral and horse related activities. Included is a 10x20 storage shed that can hold your off roading toys and more. 2 119-gal propane tanks. A greenhouse. Easy care artificial turf. Freshly painted exterior and 2 new garage doors and openers. Views of the mountains off both patios are amazing! Awesome sunsets. Very private at the end of the cul-de-sac. Close to TSMC, 101, 303 and the I-17 freeways. Less than a mile away from the entrance to the Tonto National Forest. This home has so much to offer - don't miss this one

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2818 S Berrywood -- Mesa, AZ 85212

$675,000

3 Beds

3 Baths

2,025 SqFt

Status Active

MLS # 6767015

Property Type Single Family Residence

Price Type --

This one of a kind custom home is situated on a large corner lot in SSV, one of Mesa's popular 55+ golf course communities! This layout is a rare find! Lots of natural light and views of the Superstition Mountains from the main living area and your bedroom. This 3 bedroom, 3 full bath home has been meticulously cared for and is move in ready. All tile, vaulted ceilings, neutral paint, and spacious rooms. The kitchen has matching black SS appliances, a breakfast bar and luxurious granite counter tops! The master suite has two closets and a freshly remodeled bathroom with a walk in shower. Beautifully maintained desert landscaping, turf and citrus trees! Newer A/C, a water softener and electric, retractable awnings for additional shade in the back yard. Extended patios and much more!

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21276 W Sycamore Drive Buckeye, AZ 85396

$675,000

4 Beds

2.5 Baths

3,039 SqFt

Status Active

MLS # 6765959

Property Type Single Family Residence

Price Type --

Prepare to be captivated by this gorgeous single-level home in Verrado Community! The façade offers a 3-car garage w/attached cabinets, paver driveway, & a gated courtyard. Impressive interior includes a large living room, formal dining room & a perfectly flowing great room adorned w/surround sound. Well-appointed kitchen is equipped w/recessed & pendant lighting, ample cabinetry w/crown molding, built-in appliances, a pantry, granite counters, a prep island w/a breakfast bar & a mosaic tile backsplash. Exterior paint updated in 2023. Make the open den a game area/study. Owner's retreat provides an ensuite w/two vanities, Kitchen cabinets with slide outs. Spacious backyard w/a covered patio, pergola and artificial turf. HVAC less than a year. Paid solar System. This is a Gem!

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2242 S Catarina Circle Mesa, AZ 85202

$675,000

4 Beds

2 Baths

2,322 SqFt

Status Active

MLS # 6766426

Property Type Single Family Residence

Price Type --

Welcome to your dream home in Mesa, AZ! This stunning 4 bedroom, 2 bath, 3-car garage house boasts 2,322 square feet of spacious living space with a cozy brick fireplace. All the paint and carpet are brand new, adding a fresh and inviting touch throughout. Located on a quiet cul-de-sac lot, this property offers the perfect combination of privacy and convenience. Step outside to your own private oasis with a fenced pool and low maintenance artificial lawn. Turf is eco- and pet-friendly. Located in the quiet, safe, established neighborhood of Laguna Shores, you'll love coming home to this charming home every day. Don't miss out on this incredible opportunity - reach out for more information!

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27794 N Sierra Sky Drive Peoria, AZ 85383

$675,000

5 Beds

3 Baths

3,081 SqFt

Status Active

MLS # 6767127

Property Type Single Family Residence

Price Type --

Welcome to this exceptional 5-bedroom, 3-bathroom residence in Westwing Mountain, featuring a private pool and stunning curb appeal with low-maintenance landscaping. The well-appointed kitchen boasts sleek stainless steel appliances, granite countertops, and a central island perfect for casual dining and entertaining. Ample pantry space provides additional storage.Ascend to the second level to find the luxurious primary suite, complete with dual sinks, a separate soaking tub, and a spacious walk-in closet. The thoughtful floor plan promotes seamless indoor and outdoor entertaining, with easy access to the covered patio and inviting pool area. This home offers numerous inviting spaces for relaxation and social gatherings. Conveniently located just minutes from hiking trails and parks, this property is a true oasis for both comfort and recreation.

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13280 S 183rd Avenue Goodyear, AZ 85338

$675,000

5 Beds

3 Baths

3,315 SqFt

Status Active

MLS # 6770072

Property Type Single Family Residence

Price Type --

Welcome to your dream home in highly desired Estrella Mountain Ranch. This multi-level beauty has space for everyone with 3315 sq ft, featuring 5 bedrooms and 3 full baths on a huge 1/4 acre lot. An amazing backyard makes entertaining easy with the large swimming pool, hot tub, putting green and two patios to enjoy it all. Back inside, the beautiful kitchen boasts upgraded cabinetry, granite countertops, a center island and stainless-steel appliances. You will enjoy both formal and informal dining along with living and family room options. This home continues to impress with large bedrooms, walk-in closets, and ample storage everywhere you look. The primary bedroom is huge with great natural light and features both a walk-in shower, large soaking tub and an impressive closet. The laundry room has additional cabinetry along with a laundry sink, while the oversized 3 car garage features custom cabinets for even more storage. This home keeps on giving with a freshly painted interior and exterior, along with new tile flooring throughout! Estrella is a top-ranking master planned community with highly rated schools and a reputation for excellence. As a resident, you will enjoy Estrellas two community centers with community pools and splash pads, along with pickleball, tennis, basketball, and fitness centers, in addition to some of the most pristine hiking and biking trails in the valley along with a professionally managed golf course. This exceptional home and community has it all.

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9709 E Mountain View Road Unit 1701 Scottsdale, AZ 85258

$675,000

2 Beds

2 Baths

1,644 SqFt

Status Active

MLS # 6769773

Property Type Single Family Residence

Price Type --

Corner location, fabulous private spacious courtyard in The Racquet Club at Scottsdale Ranch! Plenty of light in this open floorplan with with high ceilings and great windows, french doors and an inviting fireplace. The formal dining room has mirrored walls for a spacious feel, glass windows into courtyard. Perfect for hosting memorable dinner gatherings or reading in the shade of mature trees. The kitchen boast granite counters, ample cabinetry with crown moulding, a stone tile backsplash, chic pendant lighting, SS appliances, a handy pantry, and an island with a breakfast bar for casual dining. The main bedroom includes plantation shutters, direct backyard access, an ensuite with dual sinks, and a walk-in closet. Charming home close to restuarants, shopping & Honor Health hosp and Mayo

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