#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

5027 E Campo Bello Drive Scottsdale, AZ 85254

$657,990

3 Beds

2.5 Baths

2,143 SqFt

Status Active

MLS # 6747978

Property Type Townhouse

Price Type --

Welcome to Arabella, an exciting community in one of Arizona's most desirable zip codes! Our stunning ''Reno'' floor plan features 3 spacious bedrooms, 2.5 bathrooms, a versatile den, and a loft area perfect for relaxation. Enjoy a 2-car garage and a private yard designed for comfort and style. Inside, you'll find beautiful finishes, including sleek ash brown cabinetry, quartz countertops, and stylish wood-like tile, along with plush carpeting.. This home also includes pre-plumbed soft water, smart home technology, and window blinds. Currently under construction, it's set for completion in Sept. 2024. Minutes from the Loop 101, Scottsdale Quarter, Kierland Commons, Desert Ridge Marketplace, and vibrant dining options in Paradise Valley

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840 W Flatiron Trail Apache Junction, AZ 85120

$657,990

4 Beds

3.5 Baths

2,664 SqFt

Status Active

MLS # 6750838

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender. This elegant single-story Parklane floor plan features four bedrooms and a spacious flex area, perfect for use as an office, TV room, or study. The home includes front yard landscaping and will be move-in ready by Nov/Dec. Conveniently located near community parks, grocery stores, and dining options.

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7414 W Whitehorn Trail Peoria, AZ 85383

New

$657,085

3 Beds

2.5 Baths

2,051 SqFt

Status Active

MLS # 6779740

Property Type Single Family Residence

Price Type --

North/South Exposure 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 'El Dorado' floorplan features 3 full bedrooms, 2.5 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 9' ceilings, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, Desert Backyard Landscaping and Smart Home Technology! Interior photos of similar spec home, options may vary-exterior photos of spec.

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43856 N Hudson Trail New River, AZ 85087

$657,000

4 Beds

2.5 Baths

2,218 SqFt

Status Active

MLS # 6758229

Property Type Single Family Residence

Price Type --

Anthem's Best-Priced 4-Car Garage, Single level, 4 bedroom, home. A rare find for buyers with jet skis, boats, etc. Two of the four garage spaces come with a 3-foot extension ideal for larger vehicles or extra storage. The single-car garage is equipped with 220V power, perfect for your workshop or charging electric vehicles. Extra-wide driveway w/concrete extending to the RV gate. Inside features a gourmet Kitchen with gas cooktop and stainless steel hood, upgraded cabinets, & thick granite.The same high-end granite finishes extend into all bathrooms. Almost 1/4 acre lot has a spacious backyard that is a clean slate, ready for you to customize with the pool or outdoor oasis of your dreams.

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20247 W Hollyhock Street Buckeye, AZ 85396

$656,995

3 Beds

3 Baths

2,630 SqFt

Status Active

MLS # 6717674

Property Type Single Family Residence

Price Type --

8760 sqft lot - Optional Guest Suite - Gourmet kitchen, quartz countertops, full tile backsplash, white cabinets, pendant lights at island, stainless steel appliances w/pyramid hood & gas cooktop - Multi-slide doors at great room - Walk-in shower at primary bath - Pre-plumb locations at laundry room, soft water loop, gas to patio - Wood laminate floors throughout except for carpet in bedrooms & 12 x 24 tile in bathrooms - Matte black fixtures throughout - Ceiling fan pre-wires at bedrooms, patio and great room - 10-foot ceilings - Double gate - Two-tone paint - Garage service door - Cabinets & wet bar sink w/beverage center at guest living room w/entry door into side-car garage.

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21649 E Roundup Way Queen Creek, AZ 85142

$656,995

3 Beds

2.5 Baths

2,390 SqFt

Status Active

MLS # 6735750

Property Type Single Family Residence

Price Type --

Welcome to Light Sky Ranch and the Pinecrest plan! This 2390 square foot home boasts a well-appointed design that caters to both relaxation and functionality. With three bedrooms, two and a half baths, and a dedicated study, there's ample space for both privacy and gathering. The gourmet kitchen stands as the focal point, featuring quartz counters, upgraded shaker cabinets, and a spacious center island ideal for culinary endeavors or casual meals. The master suite is a tranquil oasis, offering dual closets and a deluxe bathroom for indulgent relaxation. Enhanced by 10-foot ceilings and a multi-slide door, the home is flooded with natural light. Outside, a single-car garage and a 2-car garage offer ample storage for vehicles, outdoor gear, and more. With amenities such as a tankless water heater for efficiency and a charming paver driveway, this home seamlessly blends convenience with sophistication.

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4920 E Helena Drive Scottsdale, AZ 85254

$656,990

3 Beds

2.5 Baths

1,958 SqFt

Status Active

MLS # 6769923

Property Type Townhouse

Price Type --

Location, location, location! Welcome to our brand-new community in Arizona's desirable zip code. Arabella is conveniently located near Loop 101, Scottsdale Quarter, Kierland Commons, Desert Ridge Marketplace, and Paradise Valley's shopping and dining! Our popular ''Little Rock'' floor plan features 3 bedrooms, 2.5 bathrooms, a loft, a 2-car garage, and a private yard. Designer finishes include white cabinetry with hardware, quartz kitchen countertops, two-tone paint, wood-like tile, and plush carpeting in the bedrooms. This beautiful home will also include smudge-proof stainless steel appliances, blinds, pre-plumbing for soft water, and smart home technology. Estimated completion is fall 2024. Photos of model home, finishes will vary.

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1384 E Morelos Street Chandler, AZ 85225

$656,000

3 Beds

3 Baths

2,143 SqFt

Status Active

MLS # 6771830

Property Type Single Family Residence

Price Type --

Gorgeous remodel and SELLER will pay $4,500 towards buyers closing costs with acceptable offer. Ideal for multi-generational family, This RARE floor plan with 3 bedrooms, PLUS DEN, and 3 full bathrooms. ''MOM in law/GEN X'' suite has its own living room! FLOOR PLAN plus LOCATION plus TURN KEY means show today! Exquisite remodel with designer kitchen, open floor plan, all new flooring, new granite counter tops, new stainless steel kitchen appliances, new dual pane windows, new neutral interior paint, and new 5 inch baseboards. New bathroom cabinet, counter top and fixtures in primary bedroom. New roof underlayment includes 3 year warranty, and updated irrigation system. Quiet private backyard oasis with single story neighbors will delight. Lovingly cared for for 23 years. Close to schools, 202 freeway and only minutes from the Chandler Fashion Center and easy to show. We welcome you to 1384 E. Morelos Street!

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3516 N 103rd Avenue Avondale, AZ 85392

$655,956

4 Beds

2.5 Baths

3,456 SqFt

Status Active

MLS # 6639394

Property Type Single Family Residence

Price Type --

MLS#6639394 Ready Now! Welcome to the innovative 45-5 plan at Parkside Almeria, showcasing a sophisticated and functional design. This striking floor plan boasts 4 bedrooms, 2 full bathrooms, and 1 half bathroom. The 3-car split garage ensures convenience and abundant storage. At the core is the open kitchen, equipped with a GE Cafe gourmet cooktop, 42'' upper cabinets, and exquisite quartz countertops. Experience a blend of modern aesthetics and expansive living in this meticulously designed residence that harmonizes comfort and style. Step into a home that surpasses expectations, setting the standard for contemporary living. Structural options include: garage service door, soft water loop, two tone paint, gas line for future outdoor kitchen and soft water loop. great amenity area with community pool, Basketball court, pickle ball courts, playground and ramada. Fun for everyone!

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4940 W La Puenta Avenue Laveen, AZ 85339

$655,261

4 Beds

3 Baths

2,683 SqFt

Status Active

MLS # 6772025

Property Type Single Family Residence

Price Type --

New home with an RV garage on a large lot! Amazing home with 4 bedrooms, 3 full bathrooms, an upstairs loft and a guest suite on the 1st level. Enjoy your Chef's kitchen with gourmet appliances, double ovens, gas cooktop, oversized island and beautiful linen cabinets & quartz counters. Kitchen opens to a large great room and dining area. Enter the large back yard thru your 12' slider that allows for endless entertaining. All wood plank tile on the lower level except in the guest suite. Owner's suite, and guest rooms are upstairs along with a loft. All bedrooms have walk in closets and lots of storage. Enjoy mountain views all around this lovely home. This home is complete. Make it yours. Seller is offering closing cost / interest rate buydowns. Photos are of a model home.

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3161 S 183rd Drive Goodyear, AZ 85338

$655,000

3 Beds

2.5 Baths

2,390 SqFt

Status Active

MLS # 6706885

Property Type Single Family Residence

Price Type --

Discover your dream home in the desirable Las Brisas community of Goodyear, AZ! This elegant 3-bedroom, 2.5-bathroom residence features a versatile flex room/office and an upgraded RV garage with A/C mini splits and epoxy flooring. Boasting 2,390 sqft of living space on a sprawling 12,765 sqft corner lot, this property offers breathtaking views of the Estrella Mountains. Step inside to find a beautifully upgraded gourmet kitchen, complete with 42-inch upper cabinets, quartz countertops, and top-of-the-line appliances. The open-concept layout is enhanced by upgraded flooring and warm interior colors, creating an inviting atmosphere throughout. The living area is perfect for entertaining, with a multi-slide door that opens to a spacious back patio showcasing gorgeous views. The primary suite is a private retreat, featuring a deluxe walk-in shower and ample space. Enjoy added security and style with a main entrance security door and pavers. The upgraded ceiling fans throughout the home add to the comfort and elegance. Outside, the huge backyard is a blank canvas ready for your personal touchideal for family gatherings, outdoor cooking, or additional landscaping. The RV gates provide easy access and convenience for your recreational vehicles. Don't miss the opportunity to own this exceptional home with stunning mountain views and endless potential. Schedule a showing today and experience the luxury and charm of Las Brisas living!

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13369 E Kings Deer Road Parks, AZ 86018

$655,000

3 Beds

2 Baths

1,710 SqFt

Status Active

MLS # 6752465

Property Type Single Family Residence

Price Type --

This beautiful, custom, owner build, situated perfectly in the heart of Parks surrounded by tall Ponderosa Pines, is the mountain home you have been dreaming of! The front, sweeping, covered deck welcomes you in. Step inside and you will find tall ceilings, an abundance of natural light that gives you a bright and open floor plan. The kitchen features an oversized built in refrigerator, built in double oven with custom cabinets and a propane range stove. The spacious island at the center of the kitchen gives ample, additional counter space and room to gather around. The kitchen also features an eat-in space with room for your dinning table. Move over to the living room and cozy up by the beautiful fireplace on those winter evenings! The copious primary bedroom features an en-suite bathroom with dual sinks and a relaxing, custom built shower. Two, oversized additional bedrooms on the opposite side of the house give you all the privacy you could need. Large guest bathroom with a shower/tub combo. Separate laundry room that offers space for washing, drying and folding tucked away from the rest of the house. Oversized two car garage is attached to the house for ease of access during the mountain elements. The backyard has an additional covered deck to take in the beautiful country life Parks has to offer. The high producing well makes water access something you don't have to worry about! With county maintained roads and just minutes to the quaint Parks store, 15 miles to the town of Williams and 19 miles to Flagstaff, Parks is situated in the middle of it all! If you are dreaming of country life with easy access to the surrounding cities, come see what Parks Arizona has to offer!

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