#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

10757 N 74th Street Unit 2012 Scottsdale, AZ 85260

$659,900

3 Beds

2 Baths

1,932 SqFt

Status Active

MLS # 6707453

Property Type Townhouse

Price Type --

Reduced!! Complete remodel! Recent comp in same complex sold July 2024 for 691k with no upgrades. 3 bedroom, 2 bath, 2 car garage in the perfect location. Newly updated with new plank and tile floors, new cabinets with soft close doors and drawers, all new light fixtures including LED can lights, new faucets, new sinks, updated showers with glass doors, new freestanding tub. This is a master bedroom split floorpan, open kitchen with dining area, great room with electric fireplace and electrical on wall for your flat screen TV. New 18 bottle wine fridge in kitchen, large island with navy cabinets with gold hardware, extra storage and waterfall countertops. White wood shutters on the dual pane insulated windows along with insulated walls for dramatically sound reduction. Click for more 2 car garage has upgraded metallic epoxy floors. New paint everywhere. Large bedrooms to fit king beds and furniture. Big fans in each bedroom with remote controls. Each bedroom has a walk-in closet with shelves, the master has and drawers with locks. Each bathroom has new cabinets, new light fixtures with new black framed mirrors. There is a separate large laundry room with frontload washer and dryer with new cabinets and more storage behind the door. There are 2 balconies, one is a large covered balcony big enough for a comfortable patio seating set and the other balcony is uncovered. Close to the 101 freeway, great restaurants, grocery stores and entertainment. Townhome is north south exposure. You'll love this! Community has a private community pool and common areas are always clean. Please come see and enjoy. open to offers

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9904 E Monterey Avenue Mesa, AZ 85209

$659,900

4 Beds

2 Baths

2,701 SqFt

Status Active

MLS # 6735242

Property Type Single Family Residence

Price Type --

$10,000 seller credit!!! Welcome to this beautiful home in the Prestigious Augusta Ranch Golf community. Home has 4 large Bedrooms, Split Floor Plan, Separate Living & Family Rooms w/ Vaulted Ceilings. The Eat-In Kitchen has an Island/Breakfast Bar, Gas Range, b/i Microwave, walk in pantry & additional built in Cabinets in Laundry Room. Primary bathroom has Shower & Tub, Dual Sinks & Walk-In Closet. This home has Ceiling fans, wood plantation shutters & neutral 2 tone paint throughout. The Large Backyard is perfect for your next BBQ w/ an enormous Covered Patio & 3 fruit trees (lime, orange, grapefruit), palm trees and is extra spacious. 3 car Garage has many b/i Cabinets, Service Door & tankless water heater. This home is in one of the best communities in East Valley.

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7313 E Jasmine Street Mesa, AZ 85207

$659,900

5 Beds

3 Baths

2,801 SqFt

Status Active

MLS # 6752294

Property Type Single Family Residence

Price Type --

Amazing 5 Bedroom 3 Bath Home with Sparkling Pool. No HOA! New Kitchen, Exterior & Interior Paint, Replastered Pool. New Carpet. Close to Schools, Shopping and Freeway! Seller is offering a 2% concession towards Buyers closing cost or loan fees. Currently, Seller is remodeling the Home.

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1413 W Coral Reef Drive Gilbert, AZ 85233

$659,900

4 Beds

2.5 Baths

2,490 SqFt

Status Active

MLS # 6769275

Property Type Townhouse

Price Type --

This stunning waterfront villa is situated in the highly sought-after Coral Reef subdivision at The Islands. Featuring 4 bedrooms and 2.5 baths, the home offers breathtaking lake views from the master bedroom, family room, and dining room. The first floor and all bathrooms are adorned with elegant Travertine flooring. Enjoy your morning coffee or evening sunsets on the patio, located right by the water's edge. The community pool is just steps away, making this home not only a place to live, but a lifestyle to embrace.

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44811 N 12th Street New River, AZ 85087

$659,800

3 Beds

2 Baths

2,072 SqFt

Status Active

MLS # 6768506

Property Type Single Family Residence

Price Type --

Acre+ Private Santa Fe Territorial Home with 10 ft soaring ceilings. Awesome mountain and desert views with a private setting to enjoy and relax in the AZ Climate. Home features 3 bedrooms 2 baths, fireplace, 2.5 car garage, den, and fireplace. Spacious primary bedroom with large walk in closet. Primary bath has large garden tub, Huge Seperate shower, and double vanity sinks. Open floorplan with Great Rm concept featuring large picture windows, fireplace, and 10ft + beamed ceilings. Loads of sspace for all your toys and vehichles. No hoa.

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10963 E Texas Avenue Mesa, AZ 85212

New

$659,709

4 Beds

3 Baths

2,485 SqFt

Status Active

MLS # 6780245

Property Type Single Family Residence

Price Type --

MLS#6780245 December Completion! The Adelaide in La Mira Expedition offers a comfortable yet expandable living experience. With a casita, sitting room, and ensuite bathroom, this home's main living area boasts a spacious formal dining, gathering room, and open kitchen with 42'' upper cabinets, a kitchen island gas cooktop, white granite countertops, and ample lighting. The owner's suite, secluded for privacy, features a spa-inspired bath and an oversized walk-in closet. Three additional bedrooms and outdoor living complete this fabulous home, ensuring a perfect blend of luxury and practicality! Structural options include: paver front porch, bed 4 in lieu of storage, and enclosed study,

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25137 N 171st Avenue Surprise, AZ 85387

$659,535

4 Beds

3 Baths

2,065 SqFt

Status Active

MLS # 6776933

Property Type Single Family Residence

Price Type --

MLS# 6776933 March Completion! Choose the exterior that speaks to you! Then, head through the porch and into the foyer to find three bedrooms and one bathroom on this side of the home. Across the foyer is a laundry room, an additional bedroom and bathroom, and the entry to your two-car garage. Keep going to discover beautiful open concept living: a great room flows to a casual dining area, kitchen with an island, and covered outdoor living, the perfect spot for hosting! Tucked away is a serene primary suite with a spa-inspired bathroom and spacious walk-in closet. Structural options include: paver front porch, 12' x 8' 8' multi-slide door at gathering, super shower at primary bathroom, gourmet kitchen, and study in lieu of bedroom 2.

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20574 S 194th Place Queen Creek, AZ 85142

$659,500

4 Beds

2.5 Baths

2,596 SqFt

Status Active

MLS # 6679596

Property Type Single Family Residence

Price Type --

This stunning single level home features a large eat in kitchen, walk-in pantry, great room, and flexible bonus/den/dining room. The luxurious primary suite includes a large bathroom with separate vanities, soaking tub and a huge walk-in closet. The laundry room has access from the primary closet and secondary bedrooms hallway. The main living areas have wood-look tile, with cozy carpet in the bedrooms. This home is beautifully appointed with double ovens and granite counters in the kitchen, raised vanities in the bathrooms, double sinks in the 2nd bath and plantation shutters throughout. Easy maintenance back yard and desert landscaped front yard. Backyard is plumbed for natural gas - perfect for a BBQ. 3 car tandem garage is plumed for water softener. Washer/dryer included.

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7319 E Arlington Road Scottsdale, AZ 85250

$659,200

2 Beds

2 Baths

1,781 SqFt

Status Active Under Contract

MLS # 6728425

Property Type Townhouse

Price Type --

Motivated Seller ready to sell you this property inside the thriving community of La Jolla Blanca! This community features tennis courts for your exercise, walking paths and calming trees that invite a peaceful path for homeownership. Inside the community where the property is located, you are welcome to explore a view of Camelback Mountain before you enter your two car garage, ready for move-in property! Recent price improvement for a new buyer, ready to go.

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20677 N 16th Way Phoenix, AZ 85024

$659,100

3 Beds

2.5 Baths

2,488 SqFt

Status Active

MLS # 6738436

Property Type Single Family Residence

Price Type --

Amazing opportunity in Phoenix, AZ. Single level home with approximately 2,488 square feet. Includes a three-car attached garage. The home sits on a lot of approximately 11,976 square feet. Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS REO property.

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19725 E Escalante Road Queen Creek, AZ 85142

$659,000

3 Beds

2.5 Baths

2,500 SqFt

Status Active

MLS # 6762361

Property Type Single Family Residence

Price Type --

Welcome to this absolutely beautiful home nestled in West Park Estates in Queen Creek. Offering 3 spacious bedrooms, a versatile den, and a dining room, this home is designed for both comfort and luxury. Step inside to a large living room that flows seamlessly to the heart of the home—a gourmet chef's kitchen equipped with a large island, sleek quartz countertops, brand-new appliances, a gas cooktop, and a convenient butler's pantry. The oversized back sliding door invites you to a large covered patio, perfect for outdoor entertaining. Enjoy relaxing on the expansive front porch with its cozy sitting area. The spacious secondary bedrooms share a Jack and Jill bathroom, while the luxurious primary suite boasts a floor-to-ceiling glass and tile rain shower, along with a large walk-in . . . closet that connects directly to the laundry room for ultimate convenience. Additional highlights include an extended-length garage, tankless water heater, and the oversized sliding door that brings the outdoors in, double gates on the east side, and a single gate on the west side. Minutes from downtown Q.C. where you will find great dining options, shopping, and entertainment. Within walking distance of Mansel Carter Oasis Park and Lake. This is a prime location for an incredible estate. Every detail has been thoughtfully crafted, making this home an ideal choice for anyone seeking style, comfort, functionality, and location.

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2528 W Coyote Creek Drive Phoenix, AZ 85086

$659,000

4 Beds

2.5 Baths

2,803 SqFt

Status Active

MLS # 6770980

Property Type Single Family Residence

Price Type --

This expansive home is nestled on a premium lot backing onto a wash, boasting mountain vistas and featuring 4 sizable bedrooms and 2.5 baths across more than 2800 Square Feet, which includes a separate casita! The layout encompasses two living spaces on the ground floor with plank tile floors and a neutral color scheme throughout. The kitchen is equipped with granite countertops, stainless steel appliances, including a double oven range, cabinets with pull-out shelves, a two-door pantry, an island with extra storage, and recessed lighting. All bedrooms are located upstairs. The primary bedroom includes a sitting area and an attached bathroom with a dual sink vanity, separate tub and shower, linen closet and a walk-in closet. Additionally, two secondary bedrooms come with walk-in closets. The private backyard is a haven with a covered patio featuring a ceiling fan, a heated pool and spa, ample flagstone-style decking, a firepit, low-maintenance desert landscaping, and fencing that provides views of the desert and mountains. The separate casita, complete with a wall-mounted AC unit, is perfect for use as a pool house, office, or gym. Other highlights are the recently updated A/C units, a laundry room on the main level, a guest powder room, and a two-car garage. Anthem Parkside presents exceptional amenities for the whole family, including over 30 parks and a community center with a gym, indoor basketball/volleyball courts, a 10-court pickleball complex, and an outdoor water park.

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