#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

15716 W Sierra Street Surprise, AZ 85379

$659,000

5 Beds

3.5 Baths

4,035 SqFt

Status Active

MLS # 6725319

Property Type Single Family Residence

Price Type --

Discover luxury living in this well maintained home built in 2007, nestled in the heart of Greer Ranch North. Boasting 5 bedrooms and 3.5 bathrooms, this residence offers ample space for both relaxation and entertaining. Step inside to find a versatile den, ideal for a home office or study, complemented by a formal living and dining area. The family room provides a cozy retreat, perfect for gatherings. Upstairs, a generous bonus loft offers additional flexibility, whether used as a play area, media room, or second family room. The heart of this home lies in its lovely kitchen, with granite countertops, and a convenient island for casual dining. Adjacent is a spacious breakfast nook, overlooking the tranquil backyard oasis.

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617 S Paradise Drive Gilbert, AZ 85233

$659,000

3 Beds

2.5 Baths

2,156 SqFt

Status Active

MLS # 6742305

Property Type Single Family Residence

Price Type --

Welcome to Paradise! This Home is move in ready & located in The Gated Falls Community (only gated waterfront community in the Islands). This Home backs up to the most gorgeous waterfalls! The interior of this home boasts vaulted ceilings, a formal dining room, and a kitchen with stainless steel appliances. The formal dining room can only be beaten by the incredible view as you gaze through the windows. Amenities include Private Falls Pool, Hot Tub & Gazebo w/ BBQ, sink entertainment area, restrooms, & lake access to fish (catch/release).kayaks, paddle boards. The HOA takes care of front and back yard landscaping and paints the exterior of the home..

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8131 E Amelia Avenue Scottsdale, AZ 85251

$659,000

3 Beds

2 Baths

1,763 SqFt

Status Active

MLS # 6742139

Property Type Single Family Residence

Price Type --

Welcome to this charming, recently renovated Scottsdale Estates home, which is just down the road from the Indian Bend Greenbelt and all the shopping, nightlife, and restaurants that Old Town Scottsdale has to offer! Big yard and living space, great for entertaining

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20364 N 52nd Avenue Glendale, AZ 85308

$659,000

3 Beds

2 Baths

1,532 SqFt

Status Active

MLS # 6762638

Property Type Single Family Residence

Price Type --

Welcome to your dream retreat! This stunning single-level home features an inviting open concept design, highlighted by new paint, new light fixtures, new carpeting in the great room and elegant bamboo flooring in the bedrooms. The expansive 15-foot sliding glass doors effortlessly blend indoor and outdoor living, leading to a sparkling heated self-cleaning pool with breathtaking views of the tranquil lake and majestic mountains.Nestled in a serene cul-de-sac, this home offers direct trail access for outdoor enthusiasts and a brand new dock perfect for canoeing, kayaking, catch and release fishing and relaxing by the water. The spacious primary bedroom boasts a huge closet, providing ample storage, while the beautifully remodeled bathrooms feature luxurious finishes, including seamless glass showers and a jetted tub for ultimate relaxation. Additional highlights include exquisite marble flooring, plantation shutters throughout for added privacy, and a recently replaced HVAC system ensuring comfort year-round. With easy freeway access and proximity to Scottsdale and Westgate, this home truly embodies the perfect oasis for those seeking both convenience and tranquility. Don't miss your chance to make this remarkable property your own!

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11620 S 217th Avenue Buckeye, AZ 85326

$659,000

4 Beds

3.5 Baths

2,467 SqFt

Status Active

MLS # 6762379

Property Type Single Family Residence

Price Type --

Be the proud owner of this residence sitting on a 1-acre lot with amazing mountain views! The double custom ironwork doors open to a semi-open layout featuring vaulted ceilings, durable tile flooring, neutral paint, and gorgeous light fixtures. Entertain your guests in the living area or host a feast in the formal dining! The kitchen showcases quartz counters, SS appliances, a stylish backsplash, cabinetry w/crown moulding, and a center island w/breakfast bar. The main bedroom is a true retreat, with its ensuite boasting dual sinks and a walk-in closet. Discover an expansive backyard that provides a covered patio, artificial turf, well-laid pavers, a Ramada w/built-in BBQ, an additional pergola, and a barn/stalls for your horses. This is the one for you! Don't wait!

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19700 N 76th Street Unit 2160 Scottsdale, AZ 85255

$659,000

2 Beds

2 Baths

1,843 SqFt

Status Active

MLS # 6766181

Property Type Townhouse

Price Type --

Come enjoy the fantastic lifestyle of Village at Grayhawk in one of the best kept units in the complex! This is a move in ready property with recent upgrades to all mechanical items and appliances. Gorgeous master bath remodel completed recently as well. You'll love the open floor plan which offers split bedrooms and generously sized office. Quiet, peaceful and private location. Full two car garage. Don't miss this one.

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11214 W Sunflower Place Avondale, AZ 85392

$659,000

4 Beds

2 Baths

2,382 SqFt

Status Active

MLS # 6763884

Property Type Single Family Residence

Price Type --

GARDEN LAKES! Do you want a house with some character on the lake? Enjoy the comforts of this single story, lake front home with low Maintenace landscape and private deck to dock the peddle boat (INCLUDED) along with outdoor furniture to enjoy the outdoor wildlife and or catch and release fishing. Large spacious rooms with vaulted ceilings with wood beams and lots of natural light and expansive lake views. New A/C unit 2yrs old, with a Nest Thermostat, Newer Roof 4yrs old, updated kitchen, updated main bedroom bath, and other custom features. New carpet to be installed or credit to buyer for flooring. Buyer incentives with respectable offer. Motivated Sellers, owners relocating out of the country so personal items also negotiable. This is a must see!

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21320 N 56th Street Unit 2163 Phoenix, AZ 85054

$659,000

2 Beds

2 Baths

1,843 SqFt

Status Active

MLS # 6764820

Property Type Townhouse

Price Type --

Fantastic location next to Desert Ridge, golf course, community pool, spa, green belts and loop 101 & 51 freeways. This townhome is one level with plantation shutters, crown molding and designer colors throughout. The kitchen has beautiful cherry raised panel cabinetry, dark columbo granite countertops, stainless steel appliances and an open great room. The bathrooms have Kona beige silestone countertops, tiled showers and tub surrounds. The oversized 2 car garage has shelving, water softener and a super quiet I-drive garage opener. The large back patio looks out across a greenbelt to the community pool & spa area.

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1205 E Tradewind Drive Gilbert, AZ 85234

$659,000

4 Beds

2 Baths

1,975 SqFt

Status Active

MLS # 6765192

Property Type Single Family Residence

Price Type --

Dreaming of lakeside living? This stunning 4-bedroom, 2-bathroom home has it all. With a 3-car garage and a beautiful PebbleTec pool, relaxation awaits. The interior boasts fresh paint, new master bedroom carpet, modern light fixtures, and ceiling fans. The kitchen features updated hardware, a gas stove, and all new faucets throughout the house. Enjoy mesmerizing lake views from your boat dock and open floor plan, perfect for entertaining. The master suite offers a separate tub and shower, with vaulted ceilings in all bedrooms adding elegance. Located within walking distance to Gilbert High School and minutes from Downtown Gilbert, restaurants, shopping, and entertainment. Don't miss out on this gem!

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2624 N 68th Place Scottsdale, AZ 85257

$659,000

3 Beds

2 Baths

1,397 SqFt

Status Active

MLS # 6777287

Property Type Single Family Residence

Price Type --

Beautiful 3 bedroom, 2 Bathroom, single story, blocks from Old Town Scottsdale home. This home features recently upgraded plumbing and electric. Pool was just completely renovated with pebble-tec and is heated with brand new smart heater. A/C unit is less than a year old and under warranty as well. Huge driveway, basketball hoop, lush green jungle like back yard. Safe neighborhood. Perfect for primary or investment property.

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18910 N 71st Drive Glendale, AZ 85308

$659,000

4 Beds

2 Baths

2,326 SqFt

Status Active Under Contract

MLS # 6772956

Property Type Single Family Residence

Price Type --

Situated on the 17th Fairway of the Arrowhead Country Club, an award-winning course designed by the legendary Arnold Palmer. Leased solar, private pool, wood burning fireplace in family room, split master with walk-in closet and private exit to the back yard oasis, water softener and reverse osmosis water system. 2019~Master bath and kitchen remodels. Huge center island, cabinets, appliances, granite countertops in the kitchen, bathrooms and wet bar, carpet in all 4 bedrooms, hardware floors in the rest of the home, windows and patio doors replaced, backyard storage shed, fresh interior and exterior paint. 2021~Pool pump and filter. 2022~Two A/C units and front iron security screen door. 2023~Side gate and hot water heater. 2024 secondary bath being remodeled expected completion mid-November. Arrowhead Ranch is an established, community that has all the modern conveniences. Within minutes of Arrowhead Towne Center, Spring Training or Arizona Cardinals. Hiking, biking and joggers will enjoy Thunderbird Park trails. Just a sort drive to Lake Pleasant Regional Park for boating and water-recreation enthusiasts. This is an Incredible Opportunity!

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4226 E Everett Drive Phoenix, AZ 85032

$659,000

3 Beds

2 Baths

1,267 SqFt

Status Active

MLS # 6750491

Property Type Single Family Residence

Price Type --

Welcome to this tastefully remodeled and well cared for home in a desirable neighborhood. The flooring in the great room ties together the living room, dining area and a kitchen that features quartz counters and a brand new complete appliance package. Both the primary and hall bathrooms have been completely remodeled with upscale finishes. The 2-car garage has epoxy flooring, and the walls and attic rafters have been foam insulated for improved energy efficiency. The front yard is nicely landscaped and the walled-in backyard has a large natural grass area with plenty of room for the future addition of a swimming pool. The neighborhood is located less than 2.5-miles from the reimagined PV dining, entertainment, and retail experiences. Come discover your new home.

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