#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

27247 N 73rd Lane Peoria, AZ 85383

Open House

$666,080

4 Beds

3 Baths

2,084 SqFt

Status Active

MLS # 6774082

Property Type Single Family Residence

Price Type --

Corner lot with no back neighbor and scenic views! Ready now! Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'Tamarron' floorplan features 4 full bedrooms with a study, 3 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes White Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 8' doors, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Photos of model home, options may vary-home is finishing final touches*

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13805 N Whispering Lake Drive Sun City, AZ 85351

Open House

$665,882

3 Beds

2 Baths

1,942 SqFt

Status Active

MLS # 6769663

Property Type Single Family Residence

Price Type --

Looking for a new place to be your own home? This wonderful 3 bed, 2 bath waterfront residence now on the market is the one for you! Great curb appeal, a low-care desert landscape, and a 2 car garage w/built-in cabinets are just the beginning. Inside you will find formal dining & living areas w/brand new flooring. The gorgeous kitchen is equipped w/ample cabinetry, granite counters, a breakfast bar, and all the built-in appliances you'll need for home cooking. End your busy day in the primary bedroom, showcasing a private ensuite for added convenience. Lastly, the lovely backyard includes a covered patio, built-in BBQ, putting green, and even a dock for your boat! Hurry, don't miss out!

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26839 N 67th Drive Peoria, AZ 85383

Open House

$665,655

3 Beds

2.5 Baths

1,989 SqFt

Status Active

MLS # 6705757

Property Type Single Family Residence

Price Type --

Home is ready now with no back neighbor and views! Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'Amherst' floorplan features 3 full bedrooms, 2.5 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes Burlap Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 9' ceilings, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Photos display similar spec home to show layout, options may vary**

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2280 E Snowflake Drive Pinetop-lakeside, AZ 85929

$665,000

3 Beds

3 Baths

1,828 SqFt

Status Active

MLS # 6738835

Property Type Single Family Residence

Price Type --

Welcome to this beautiful cabin home located in the prestigious gated community of Pineridge Estates in Pinetop.This home is located on a nice lot with great curb appeal. This home has been gently used as a second home . Once you enter the door, you will be greeted by the open floorplan and vaulted ceilings.The kitchen has plenty of cabinets and counter space for all of your dining needs. A dedicated dining area to host your guests and family. The large family room with vaulted ceilings and a gas fireplace with stone from floor to ceiling is an eye catcher and will be the focal point of this space. Upstairs is the the primary bedroom and two secondary bedrooms. The primary has its own combination tub/shower and walk in closet. The two secondary bedrooms also offer a loft which has been a fun area for kids to hang out in and have as a fort. There is a large loft that adds so much extra living space to the home. This is a great place to cozy up on the couch and watch movies while enjoying the views of all the surrounding windows.Enjoy the scenery from your back and front patio..many relaxing evenings enjoyed sitting and watching the sunsets. This home is located in close proximity to town and wonderful shops and restaurants. The home is 30 minutes from Sunrise Ski Resort and many lakes located in the area. This home has been recently painted on the exterior....offers two hot water heaters for much hot water needs. It is hard to find a home with 3 bedrooms and 3 bathrooms with a loft in a community such as Pineridge Estates.

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23120 W Skinner Road Wittmann, AZ 85361

$665,000

5 Beds

2 Baths

2,451 SqFt

Status Active

MLS # 6757949

Property Type Single Family Residence

Price Type --

Beautiful new home on 1.4 acres with 5 bedrooms and an extended 3 car garage! NO HOA! Only a short drive to Surprise and Wickenburg. It has designer touches throughout including quartz countertops, soft close cabinets, under cabinet lighting, stainless steel appliances, tiled backsplash, large center island, walk-in pantry, and range hood. Perfect for entertaining w/ eat-in kitchen, breakfast bar, dining room off the great room, large sliding glass door, 10' ceilings 8' doors. Split floor plan master bedroom has 2 walk-in closets, a large tiled shower w/ double sinks and an exit to the patio.

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23154 W Skinner Road Wittmann, AZ 85361

$665,000

5 Beds

2 Baths

2,451 SqFt

Status Active

MLS # 6772973

Property Type Single Family Residence

Price Type --

Beautiful new home with No HOA! On a fenced acre 5 bedrooms and an extended 3 car garage! Quick drive to Surprise and Wickenburg. It has designer touches throughout including quartz countertops, soft close cabinets, under cabinet lighting, stainless steel appliances, tiled backsplash, large center island, walk-in pantry, and range hood. Perfect for entertaining w/ eat-in kitchen, breakfast bar, dining room off the great room, large sliding glass door, 10' ceilings 8' doors. Split floor plan master bedroom has 2 walk-in closets, a large tiled shower w/ double sinks and an exit to the patio.

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6346 W Hackamore Drive Phoenix, AZ 85083

$665,000

3 Beds

2 Baths

2,152 SqFt

Status Active

MLS # 6687811

Property Type Single Family Residence

Price Type --

This home is well suited for anyone seeking a primary residence. Enjoy homeownership without the hassle of dealing with banks. Property Features: • Beautifully remodeled single-level home in a fantastic neighborhood • Upgraded kitchen and bathrooms with granite countertops • New black kitchen appliances • Fresh custom paint, new light fixtures and ceiling fans throughout • Vaulted ceilings and new blinds for added charm • Spacious den, perfect for a home office or entertainment area • Lush green landscaping with covered • 3 bedrooms, plus a large den, 2 full bathrooms

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3785 N 150th Lane Goodyear, AZ 85395

$665,000

2 Beds

2 Baths

1,641 SqFt

Status Active

MLS # 6714594

Property Type Single Family Residence

Price Type --

Gorgeous Home on a Golf Course Lot in the Active Adult Community of PebbleCreek with Resort Style Living. Highly upgraded split floor plan with 2 Bedrooms, 2 Baths plus a Den. Beautiful upgraded 42'' Kitchen Cabinets with Quartz/Leather finish Countertops, Island with Breakfast Bar, Built-in Wine Cooler, Sub Zero Fridge, Gas Stove La Cornue En France with Hood, overlooking Formal Dining Room. Elegant Family Room with Large windows and views with Mountains and Golf Course. Spacious Laundry Room with lots of Cabinets, laundry sink and Upgraded Washer/Dryer. Master Bedroom with walk-out to a Covered Patio. Remodeled Master Bathroom with oversized walk-in Shower, Double Sinks and Walk-in Closet. Peaceful, Covered Patio with Built-in BBQ and lots of room to Entertain. **Dream Home**

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10447 W Appaloosa Trail Casa Grande, AZ 85194

$665,000

4 Beds

3 Baths

2,190 SqFt

Status Active

MLS # 6750324

Property Type Single Family Residence

Price Type --

The search is finally over! This stunning corner lot horse property is set on a sprawling 1-acre lot! The property features a spacious RV garage, a paver driveway, a charming brick trim, majestic mountain views, and a welcoming front patio. Inside, the great room showcases a cool palette, recessed lighting, and stylish wood-look flooring. The delightful kitchen boasts granite counters, abundant wood cabinetry with crown moulding, chic pendant lighting, stainless steel appliances, a handy pantry, and an island with a breakfast bar. The main bedroom offers plush carpeting, direct backyard access, an ensuite with dual sinks, and a walk-in closet. Venture outside to enjoy breathtaking sunsets in the expansive backyard, complete with a covered patio for al fresco dining, lush natural turf, and endless possibilities to create your dream oasis or equestrian facilities. This gem will sell fast!

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20121 N 76th Street Unit 1014 Scottsdale, AZ 85255

$665,000

3 Beds

2 Baths

1,585 SqFt

Status Active

MLS # 6760104

Property Type Townhouse

Price Type --

Beautifully updated ground-floor condo located in the gated community of Vintage at Grayhawk! This move-in ready, single-level home is filled with natural light and offers an open floor plan. The living room has a cozy fireplace and easy access to the private patio. The remodeled kitchen is a chef's dream, featuring granite countertops, a farmhouse sink, refinished cabinets, and stainless-steel appliances. They primary suite includes dual sinks, granite countertops, an oversized seamless glass shower, as well as a spacious walk-in closet designed by California Closets. The guest bathroom has also been stylishly updated. Additional highlights include all closets designed by California Closets, whole house surge protector, two-car garage and a prime location within the complex offering quick access to resort-style amenities such as a community pool, spa, BBQ area, and workout facility. Conveniently located near Scottsdale's top shopping, dining, hiking, golf, and more!

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17245 W Dartmouth Street Surprise, AZ 85388

$665,000

2 Beds

2 Baths

1,530 SqFt

Status Active

MLS # 6765989

Property Type Single Family Residence

Price Type --

Welcome to your New Home in the prestigious guard gated Sterling Grove Golf & Country Club community. This Craftsman Style home is a 1530 sf ft, 2 bed, 2 bath Toll Brothers Smithfield model with over $100,000 in Builder & Owner upgrades. It is light and bright and built for indoor / outdoor living. Enter the home into the expansive Great Room with a feature wall and gorgeous Kitchen, including a large island with waterfall counter, gas range, walk-in pantry, and an abundance of storage. Then head out to the private Outdoor Living Room, complete with two-sided gas fireplace and TV wall, perfect for relaxing or entertaining. As you head to the end of the hall, turn the corner into the serene Primary Suite, with oversized shower in Bath and large walk-in closet. This home is your your year-round sanctuary or lock and leave winter home. Sterling Grove offers a Jack Nicklaus Design Golf Course & Country Club with majestic views of the White Tank Mountains, managed by Troon, as well as a Copper & Rye restaurant, Flora Spa, health and fitness facilities, resort style pools, lighted pickleball and tennis courts, community center, playground, and fun community events for everyone year round. Close to freeways, schools, dining, and shopping. Visit this home today to experience luxury living in the West Valley.

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15469 W Corrine Drive Surprise, AZ 85379

$665,000

4 Beds

2.5 Baths

2,990 SqFt

Status Active

MLS # 6764060

Property Type Single Family Residence

Price Type --

Beautiful home in the sought-after community of Marley Park! The photographer asked if the home was staged!!! No, the current owners just have great taste! OWNED SOLAR will save you a lot of money. 10K in concessions with a full price offer! New pool and above ground hot tub with no neighbors behind the home. The kitchen is very tasteful and functional. Large walk-in pantry and a large laundry room off the kitchen. DOWNSTAIRS master bedroom is huge. Look for the unique features when you tour the home like the dog kennel under the stairs and the built-in bunk beds in the 4th bedroom. Custom touches with built-in cabinets in the den and loft and trimmed-out windows give the home an upscale feel. Front yard was just updated with new landscaping and new drip system. Not in photos.

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