#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

22709 E Watford Drive Queen Creek, AZ 85142

$652,741

4 Beds

3.5 Baths

2,769 SqFt

Status Active

MLS # 6733044

Property Type Single Family Residence

Price Type --

This is a brand new Quick Start Home under construction in Queen Creek, with a Ranch Elevation. The Forest plan includes 4 bedrooms, 3.5 baths, 3 car garage. Gourmet Kitchen appliances that include a gas cooktop with a built-in oven/microwave and dishwasher. Owner's Bathroom includes a Walk-In Shower with a Rain Shower head. Move-in anticipated for October/November. Included in the Emerald Collection are 10 foot ceilings, 8 foot interior doors and paver driveways and front porches. Please ask about our special financing incentives with Mattamy Home Funding.

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20271 W Hollyhock Street Buckeye, AZ 85396

$651,995

4 Beds

3 Baths

2,630 SqFt

Status Active

MLS # 6717642

Property Type Single Family Residence

Price Type --

8760 sqft lot - Gourmet kitchen, quartz countertops, full tile backsplash, white cabinets w/extension at nook, pendant lights at island, stainless steel appliances w/pyramid hood & gas cooktop - Center-meet doors at great room - Walk-in shower at primary bath - Pre-plumb locations at laundry room, soft water loop, gas to patio - 9 x 35 tile floors throughout except for carpet in bedrooms - Matte black fixtures throughout - Ceiling fan pre-wires at bedrooms, patio and great room - 10-foot ceilings - Single additional gate non-garage side - Two-tone paint - Garage service door.

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19797 S 231st Way Queen Creek, AZ 85142

$651,441

3 Beds

2.5 Baths

2,195 SqFt

Status Active

MLS # 6583797

Property Type Single Family Residence

Price Type --

GORGEOUS GREAT ROOM PLAN, GOURMET KITCHEN LAYOUT, SPA SHOWER IN THE PRIMARY, WHITE CABINETS WITH CONTRASTING BLACK HARDWARE, PLANK TILE FLOORS EVERYWHERE, EXCEPT THE BEDROOMS,UPGRADED GRANITE TOPS AND TILE BACKSPLASH., FANS BLINDS INCLUDED,PAVER DRIVE AND WALKWAY AND MORE.. TASTEFUL TOUCHES THROUGHUT THIS HOME!! ALL THIS IN BEAUTIFUL BARNEY FARMS, WHICH OFFERS A 22 ACRE LAKE THAT IS THE CENTERPEICE OF THIS COMMUNITY SURROUNDED BY GREEN PARKS, WALKING TRAILS AROUND THE LAKE WITH BENCHES AND RAMADAS TO ENJOY THE VIEW. PICKLE BALL, BOCCE BALL, LARGE BARN CLUBHOUSE WITH OUTDOOR SEATING OVERLOOKING THE LAKE. 16 SEER RATING ENERGY STAR HOME! ''KMB K-6 School. THIS HOME AND COMMUNITY IS WORTH A VISIT!!

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17147 W Hackmore Drive Surprise, AZ 85387

$651,223

4 Beds

3 Baths

2,665 SqFt

Status Active

MLS # 6771831

Property Type Single Family Residence

Price Type --

MLS#6771831 January Completion! Welcome to the Everglade at Asanta Passage. Step through the porch into the welcoming foyer. On one side, you'll find three bedrooms and a shared bathroom, while across the foyer lies a laundry room, an additional bedroom with its own bathroom, and access to the two-car garage. Continue through the home to discover stunning open-concept living, where the great room effortlessly flows into the casual dining area, kitchen with an island, and covered outdoor living—ideal for entertaining. The tucked-away primary suite offers a peaceful retreat, featuring a spa-inspired bathroom and a spacious walk-in closet. Structural options include: super shower, gourmet kitchen, paver front porch, 12'x8' sliding glass door, garage service door & study in lieu of bed 2.

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5745 S 129th Avenue Tolleson, AZ 85353

$650,000

3 Beds

2 Baths

1,563 SqFt

Status Active

MLS # 6624504

Property Type Single Family Residence

Price Type --

Beautiful horse property with 6 horse stalls available, 3/4 of an acre of land, square shaped lot, and irrigation rights. The home also features tile throughout the home (no carpet) and granite countertops in the kitchen and bathrooms! A new AC was installed in 2022 and a new roof was installed in 2021. The property also features multiple entrances for vehicles, a storage shed, and mature trees. The home has been recently painted, interior and exterior. The kitchen also has a gas hook up for a gas range. Come check out this amazing opportunity and see all the potential this property has!

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4380 E Prairie Lane Cottonwood, AZ 86326

$650,000

3 Beds

2 Baths

1,855 SqFt

Status Active

MLS # 6740171

Property Type Single Family Residence

Price Type --

This stunning, newly built property is perched atop a scenic hill, offering breathtaking mountain views from every angle. The modern design of the home seamlessly integrates with the natural landscape, featuring a split floor plan. Inside, the open-concept layout is highlighted by high ceilings, sleek finishes, and an abundance of natural light. The expansive outdoor patios provides the perfect spot for enjoying the serene surroundings and picturesque sunsets.

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14125 W Vía Tercero -- Sun City West, AZ 85375

$650,000

2 Beds

2 Baths

2,179 SqFt

Status Active Under Contract

MLS # 6699712

Property Type Single Family Residence

Price Type --

Welcome to this remodeled Sedona on the 3 hole of Deer Valley Golf Course in the Del Webb community of Sun City West. The evening and morning views are stunning. 2179 sq ft. Home is offering someone a very tastefully remodel with all the latest and greatest touches. Tile floors 50 by 24 inches large 5 inch baseboards, Freshly Painted - New Kitchen Aid Appliances. Shutters through out. Updated Patios both front and Back. Updated bathrooms with counter tops and new high toilets. Home has been painted through out inside. All new drapes all new carpets. New screen doors on front and back patios. This home offers the purchaser a chance to arrive with their belongings and enjoy the Views and the great remodel with just personalizing it for themselves.

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3231 W Folgers Road Phoenix, AZ 85027

$650,000

3 Beds

2 Baths

2,313 SqFt

Status Active

MLS # 6769455

Property Type Single Family Residence

Price Type --

WELCOME HOME!! Beautiful 3-bedroom residence exuding charm! Sweet curb appeal, 2-car garage, and grassy front yard are just the beginning. Discover NEW HVAC (2021), vaulted ceilings, and NEW FLOORING (2021) throughout that give this home a bright, open, and airy feel. Welcoming living/dining room, cozy family room w/surround sound speakers, and roomy den to expand your options for an office or a fourth bedroom. The eat-in kitchen has SS appliances, a huge walk-in pantry, tile counters, white cabinetry, and a center island w/breakfast bar for casual meals. Retreat to the main bedroom to find a private exit to the patio and a lavish ensuite w/dual sinks, a Jacuzzi tub, and a walk-in closet. All bedrooms offer new window treatments (2024)! BACKYARD WAS COMPLETELY TRANSFORMED WITH GORGEOUS HEATED POOL AND HOT TUB INSTALLATION (2022), new plants, drip system, and pavers. Plus, the pool has afternoon shade, a transferable warranty, and removable security fencing. You won't be disappointed! Adobe Highlands is a vibrant, yet quiet place to live with PASEO HIGHLANDS PARK a short walk away, offering 6 pickleball courts, baseball fields, basketball courts, playground, and a community center. Don't forget the scenic hiking trails, water park, and great shopping, dining and medical facilities within minutes. EASY ACCESS TO THE LOOP 101, the I-17, and the upcoming TSMC chip manufacturing plant. Delight in the perfect blend of all this beloved home has to offer - don't miss the chance to make it yours today!

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3510 S Verbena Road Casa Grande, AZ 85193

$650,000

2 Beds

2 Baths

1,240 SqFt

Status Active

MLS # 6711471

Property Type Single Family Residence

Price Type --

Unique opportunity! Check out this one-of-a-kind property less than a quarter mile from the Lucid Motors complex. 9.85 acres with a 2 bedroom 2 bath home, detached three car garage, two registered wells, a mobile home pad and a barn. Lots of possibilities for this property, what could you do with it?

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36655 N 25th Street Cave Creek, AZ 85331

$650,000

4 Beds

3 Baths

2,350 SqFt

Status Active

MLS # 6702523

Property Type Single Family Residence

Price Type --

Spacious Home/ Great views on private Street on 1.6 acres, 4 beds/3baths, huge room, stunning rock fireplace in wood, big room with sitting rooms views in all directions.

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21425 N 142nd Drive Sun City West, AZ 85375

$650,000

2 Beds

2.5 Baths

2,580 SqFt

Status Active

MLS # 6702403

Property Type Single Family Residence

Price Type --

Fabulous Montecito model with 2 bedrooms, 2.5 bath & den w double doors, situated on a prime location on the 3rd hole of the Trail Ridge Golf Course, showcasing 2 separate lakes, mountain & fountain views! Enter through a private, front courtyard that opens to a spacious great room w plantation shutters, overlooking gorgeous greens & several patio areas. Open kitchen with Corian countertops, plenty of cabinets, Bosch cooktop, GE Profile appliances & separate built-in ice maker. Primary bedroom bay window, large walk-in closet, double vanity & separate shower & tub. Inside laundry w sink & updated GE washer & dryer. Half-bath for convenience. Large 2 car garage w extra golf cart garage, newer garage door opener. Water heater 2019, Two Trane units 2010. Roof underlayment #30 LB in 2010.

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1208 W Random Way Payson, AZ 85541

$650,000

2 Beds

2 Baths

2,282 SqFt

Status Active

MLS # 6724003

Property Type Single Family Residence

Price Type --

For a quiet retreat with space to spread out on close to an acre. Need a place to park your RV? This home has plenty of room with the 2 car garage attached to the house and an additional 2 car garage/shop in the out building. Add to that a set up for covered RV parking. We have you covered...Don't forget the park and golfing down the street. Newly painted throughout with new flooring in kitchen, great room and hallway and new carpeting in bedrooms. New chain link fence as well. Green Valley Park and Payson Golf down the street. Take a peek in the utility room and see another storage area.....

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