#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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21545 S Camas Way Florence, AZ 85132

$650,000

2 Beds

2 Baths

1,971 SqFt

Status Active

MLS # 6737943

Property Type Single Family Residence

Price Type --

Magical Property! This beautiful rustic home is built with burnt adobe and is set on 10 acres adorned with majestic saguaros. There are views for miles, a wrap-around porch that you can sit and observe the local wildlife, and marvel at breathtaking views and spectacular sunsets. This home has stunning floors, gorgeous architecture features such as arched windows and doorways. The cozy the living room has a wood plank ceiling, exposed wood beams, a wood burning fireplace as well as a wood burning stove. The bathrooms even have lots of details you don't want to miss right down to the bronze faucets and designer towel bars. Come and explore the beauty of your next home.

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6502 N Central Avenue Phoenix, AZ 85012

$650,000

3 Beds

2 Baths

1,880 SqFt

Status Active

MLS # 6740787

Property Type Apartment

Price Type --

Welcome to the PENTHOUSE of the iconic OLYMPUS on the Murphy Bridle Path in the ''North Central'' neighborhood of Phoenix. Built in 1964, this mid-century beauty boasts incredibly spacious rooms, large windows & two patios with mountain and downtown views! The primary suite features a walk-in closet and spacious bath with double sinks, incredible original tile and vanity and mountain views!The second bedroom features double w/in closets and...mountain views!The third bedroom/den has a door to one of the patio/balconies. The great room is...well, great with ...yes, mountain views! The balcony/decks have hundreds of square feet of space to enjoy our Sept-June weather! Secure covered parking for 2 cars is included along with additional storage.Walk to some of Phoenix's finest eateries too!

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917 S Montezuma Avenue Phoenix, AZ 85003

$650,000

5 Beds

4 Baths

2,880 SqFt

Status Active

MLS # 6762354

Property Type Single Family Residence

Price Type --

Fantastic opportunity for Multi-Generation Home or a multi-unit Income Producing Investment Property in Central Phoenix! Beautifully updated Main Residence with 2 bedrooms & Ensuite Baths, Large Loft has cityscape & mountains views. Attached to Main House is a 1 bed/1 bath Apartment with separate entrance & patio. Property also has Casita / Guest House on separate meter featuring stunning updated kitchen, 2 beds/1 bath, laundry and private patio. Both Studio & Additional Home previously used as income producing short term rental units. Do not miss out on this unique opportunity close to City Central dining, shopping, events, and transportation!

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2113 E Kempton Road Chandler, AZ 85225

$650,000

4 Beds

2 Baths

2,279 SqFt

Status Active

MLS # 6772214

Property Type Single Family Residence

Price Type --

Ideal location! Right between Downtown Chandler and Gilbert, easy access to freeway, across the street from brand new state-of-the-art park for the kids! Perfect starter home, 2nd home, or investment! Single level, split floor-plan, with expansive open lay out! Low landscape backyard with large covered patio, enough grass for the kids and dogs, diving pool with new variable speed pump, and mature landscaping with orange tree make this the ideal backyard for all buyers! Brand new AC unit!

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48040 N 15th Avenue New River, AZ 85087

$650,000

4 Beds

2 Baths

2,291 SqFt

Status Active

MLS # 6750671

Property Type Single Family Residence

Price Type --

PRIVATE WELL on over 2 plus acres on paved roads. Multiple gates and fenced property. This charming home has it all. Home sits back from road which offers privacy in all directions. Split floorplan, large open living area and cozy fireplace. Access to add fireplace to large primary bedroom. Beautiful new floors throughout. Storage galore. Enjoy the serenity on the extended front porch surrounded by the natural beauty of the desert. Design your guest house, workshop or hobby room in the detached 532 sq ft stone building. Detached 2 car garage. Horses, ATV, RV - you can have it all! Minutes to Outlets North Phoenix and I-17. Shopping and restaurants close while still living the rural lifestyle!

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1050 E Indigo Drive Chandler, AZ 85286

$650,000

6 Beds

3 Baths

2,634 SqFt

Status Active

MLS # 6770445

Property Type Single Family Residence

Price Type --

Welcome to your new home in Lantana Ranch! This stunning 6BR/3BA is situated on a spacious and beautiful lot, complete with an RV gate. Impeccably maintained, this home boasts tile flooring throughout the first floor which includes a Living room and a family room. The open concept kitchen featuring an abundance of cabinetry and a convenient pantry for all your storage needs. One of the bedrooms is conveniently located on the ground floor next to a full bathroom, making it an ideal guest suite. Head upstairs to discover 5 additional bedrooms, including a spacious Primary bedroom with 2 walk- in closets. The secondary bedrooms offer ample space. The property also includes a 2 car garage with exceptional storage options. Step outside to your vast backyard that is perfect for entertaining with additional storage solutions. Don't miss your chance to see this remarkable home!

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13399 W Tyler Trail Peoria, AZ 85383

$650,000

5 Beds

3 Baths

3,423 SqFt

Status Active

MLS # 6751314

Property Type Single Family Residence

Price Type --

Unbeatable 5 bedroom floorplan with extensive upgrades! This spacious home offers a formal living/dining, plus expansive greatroom layout at the back of the house, featuring gourmet kitchen with granite counters and staggered cabinetry, huge island with breakfast bar, dining room with bay window, and spacious living room. One bedroom and remodeled full bath downstairs, along with laundry. Enormous primary suite is upstairs along with 3rd full bath (also renovated), and 3 more bedrooms, each with walk in closets. Walnut finished plank flooring downstairs and plush carpet upstairs. Oversized premium lot with no rear neighbors. Extended back patio, grass area surrounded with curbing, rock accents, and mature plants/trees. Plenty of parking with 3 car garage and triple driveway.

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11000 N 77th Place Unit 2085 Scottsdale, AZ 85260

$650,000

2 Beds

2 Baths

1,571 SqFt

Status Active

MLS # 6752086

Property Type Townhouse

Price Type --

Experience modern living in the gated Sovanna Condominiums at Scottsdale Country Club! This charming unit offers 1651 sqft with 2 beds, 2 baths, & a 2-car garage. Home exudes elegance with plantation shutters, neutral paint, tons of natural light, and tasteful flooring - tile & plush carpet. You'll love the inviting great room that seamlessly blends the main areas, adorned w/gas fireplace! The impressive kitchen boasts granite counters, a pantry, track lighting, designer backsplash, ample wood cabinetry, and a 2-tier peninsula w/breakfast bar. The den provides versatility! Primary bedroom is a true retreat, featuring an ensuite with dual sinks, separate tub/shower, & a walk-in closet. Multiple sliding doors open to two cozy balconies, one of which overlooks the common area! Make it yours!

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4606 N 94th Drive Phoenix, AZ 85037

$650,000

5 Beds

3 Baths

4,008 SqFt

Status Active

MLS # 6761245

Property Type Single Family Residence

Price Type --

UPGRADE UPGRADE UPGRADE! Newley renovated house! This house has it all! With fully renovated all new... 3 bathrooms, kitchen, flooring, appliances, hot water heater, garage doors with an automated remote control opener, and new paint inside/outside, making the house beautiful and amazing! Located just 5 minutes away from the State Farm Stadium home of the Arizona Cardinals. Come check out this house today!

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16197 W Berkeley Road Goodyear, AZ 85395

$650,000

4 Beds

2.5 Baths

2,677 SqFt

Status Active

MLS # 6757161

Property Type Single Family Residence

Price Type --

New Listing Alert: The Unicorn of Goodyear! Welcome to 16197 W. Berkeley Road, a rare and remarkable find in one of Goodyear's most desirable locations! This home stands out from the rest—combining charm, beauty, and all the modern features you've been searching for. Prime Location: Situated in the heart of Goodyear, this home is just minutes from brand-new restaurants, shopping, and the highly anticipated Goodyear Civic Center. It's more than just a home—it's a gateway to a vibrant lifestyle! Inside the Home: -4 spacious bedrooms that provide plenty of room for everyone. -2.5 bathrooms, beautifully maintained and designed with functionality in mind. -Chef's kitchen with double ovens, granite countertops, and ample storage—a central hub perfect for entertaining, and enjoying time with loved ones. -The open-concept living space offers an inviting flow from the kitchen to the living areas, ideal for large gatherings or cozy family nights. -A versatile dining room that can easily transform into a home office or playroom to suit your personal needs. Backyard Retreat: Step outside and unwind in your private outdoor oasis: -Brand-new turf for low-maintenance landscaping. -A sparkling pool, perfect for cooling off on hot summer days. -Elegant travertine pavers, ideal for outdoor dining or lounging, creating a resort-style vibe in your own backyard. This home offers a rare combination of location, design, and outdoor living. Opportunities like this don't come along often. Don't miss out on this unicorn!

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13615 W Merrell Street Avondale, AZ 85392

$650,000

5 Beds

3 Baths

3,728 SqFt

Status Active

MLS # 6756481

Property Type Single Family Residence

Price Type --

Stunning 5 Bed, 3 Bath BASEMENT home in Fulton Estates with a $10,000 seller concession for buyer expenses. Beautiful ranch-style home with low-maintenance landscaping, a 3-car garage, and RV gate. Inside, a welcoming foyer leads to a bright, spacious living/dining area, warm tones, neutral tile in high-traffic zones, and plush carpet in others. The family room connects to the kitchen and opens to the backyard for seamless entertaining. The eat-in kitchen includes staggered cabinets with crown molding, SS appliances, solid surface counters, an island, and a walk-in pantry. Primary bedroom has outdoor access, a full ensuite with dual sinks, a makeup vanity, and a walk-in closet. Basement is approx. 1,100 sq ft with 2 beds, 1 bath, and a large recreation room. 2 new A/C units with warranty! In the basement, you'll find a large bonus room ideal for a game/entertainment center, a cinema, or a home gym. In addition, there are 2 beds & 1 bath downstairs, which is perfect for overnight guests. Enjoy relaxing in the backyard on the covered patio while sipping your favorite beverage. Desirable location, close to restaurants, markets, major roads, and easy access to the I-10. Hurry to see!

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1643 W Harmont Drive Phoenix, AZ 85021

$650,000

3 Beds

2 Baths

1,896 SqFt

Status Active

MLS # 6761053

Property Type Single Family Residence

Price Type --

Welcome to 1643 W Harmont! Located in the highly coveted Sunnyslope School District, this move-in ready home with NO HOA has been well maintained and comes loaded with upgrades and improvements. These features include: 3 generously sized bedrooms and 2 newly updated bathrooms. The open kitchen was remodeled in 2015 and features under-mount cabinet lighting, track lighting, brand new appliances, gas range, a four-seat breakfast bar, and direct access to the backyard. Other updates include a new roof, replaced in 2020 with a 30-year warranty, new remote control fans, no carpet throughout, USB Outlets, new ceiling fans, a new water softener and cozy fireplace. This is also an energy-efficient home boasting a 16 SEER Trane Unit and ductwork (2015), new AC condenser (2024), new water heater (2024) added insulation (2019) and argon-filled, tinted vinyl windows. Finally, step outside to your south-facing backyard for a year-round urban oasis. Complete with a covered patio, a sparkling pool which was drained and acid washed in 2020 and boasting a new variable speed pool pump installed in 2023. Additionally, you'll find natural grass, a sizable shed and an RV gate for easy access. Plan your private tour of this stunning and well maintained Royal Oaks home, today!

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