#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

12940 N Northstar Drive Fountain Hills, AZ 85268

$649,900

2 Beds

2.5 Baths

1,502 SqFt

Status Active

MLS # 6748159

Property Type Single Family Residence

Price Type --

High ceilings and plantation shutters give this 2-bedroom, 2.5 bath open-concept condo a spacious feel. You'll love the large screen porch with sun-blocking shades, patio, colorful landscaping, and beautiful view of the mountains beyond. The primary bedroom is spacious and both bedrooms feature an ensuite bath and walk-in closet. The kitchen and large laundry room/pantry provide plenty of storage. A gas fireplace separates living and dining areas. And the powder room is plus! Centrally located in the heart of Fountain Hills, The Enclave is a gated, dog-friendly community with a pool - walkable to ''everything downtown.''

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10011 E Lakeview Circle Mesa, AZ 85209

$649,900

3 Beds

2.5 Baths

2,960 SqFt

Status Active

MLS # 6754002

Property Type Single Family Residence

Price Type --

*NEED MORE SPACE? Potential 4/5 Bedroom Home Awaits you in Villages of Eastridge ! *Flex-Floor Plan Looks New! *Original Owner on Culdesac Corner Home Site! *3+4 Bedrooms* Upper Loft & Lower Level Den/Office or Potential 4th-5th Bedroom Guest Suite & Master Retreat Sitting Room! *SPARKLING PLAY POOL & LARGE YARD! *3 Car Extended Garage + Double RV Gate! *Open Country Kitchen Island Bar & Walk in Pantry Overlooks Family Rm* Faux Wood Floors Lower Level *Dual A/C Units 2 Years New* Interior Freshly Painted & Exterior Recently Painted *Large Covered Patio *Backyard Fire Pit *2 Storage Sheds Garage Cabinetry with Work Bench & Storage Shelving *EXTRA WIDE & LONG Culdesac Drive for Additional Parking! Basketball Sports Court, Parks & Playgrounds! Quick Access Fwy's 202 & I60 & Schools!

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17724 W Ocotillo Avenue Goodyear, AZ 85338

$649,900

3 Beds

3 Baths

2,718 SqFt

Status Active

MLS # 6754137

Property Type Single Family Residence

Price Type --

Experience mountain living in this beautiful, gated semi-custom TW Lewis home in Estrella Mountain Ranch. Located on a spacious corner lot just under 1/3 acre, this home is filled with luxury upgrades. The master bedroom offers an extended patio and elegant single lite door, while the master bath features a tiled snail shower. The cozy living area includes a fireplace with custom media niches, and the 3-car garage provides ample space with a service door. Enjoy energy-efficient solar shades, security doors, and a pebble stone driveway. The expansive backyard is ready for your dream pool or oasis.

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5651 W Abraham Lane Glendale, AZ 85308

$649,900

3 Beds

2 Baths

1,968 SqFt

Status Active

MLS # 6757000

Property Type Single Family Residence

Price Type --

LAKE FRONT PROPERTY in the Highly sought after Arrowhead Lakes!! Enjoy amazing AZ sunsets from your own dock! Backyard boast peace and serenity with stunning mountain and lake views!! Low maintenance yard with Extensive hardscape, artificial turf allows you more time to enjoy those gorgeous sunsets, fishing or stargazing right off your own boat dock. Recently renovated the boat dock is also low maintenance with long lasting poly wood deck. Located on a cul-de-sac street for low traffic, this 3 bedroom 2 bath, features a 3 car garage with built in cabinets and epoxy floor. Step inside to be greeted by that stunning view through the rear windows for the home. Formal living and dinning room allow for additional living space for home office, home school or large holiday gatherings. The heart of the home situated off the back of the house to maximize the lake view is an open concept with family room and breakfast nook, featuring newer stainless steel appliances, granite counters and neutral paint scheme. Spacious Owner's suite, with cathedral ceilings, yet again taking in those picturesque lake views! Owner's baths features TWO walk in closets, double sinks, large garden tub, walk in shower and private toilet room. Both bedrooms 2 & 3 have vaulted ceilings giving them a more spacious feel. All this located minutes to the 101 Fwy for easy commutes and all the shopping and entertainment the Arrowhead area allows.

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2508 E Nancy Lane Phoenix, AZ 85042

$649,900

4 Beds

2.5 Baths

2,569 SqFt

Status Active

MLS # 6757871

Property Type Single Family Residence

Price Type --

Your new dream home comes complete with a white picket fence and mountain views! Ideally located within a gated community, this north/south facing property has SO many extras! Premium lot next to a walking path to the east. Enter your private front courtyard through a wrought iron gate. Once inside, you'll love the stunning chef's kitchen with HUGE walk-in pantry, granite counters, backsplash tiles added to large island, pendant lights, R/O system and large drawers under the cooktop. Primary bath features a walk-in shower with dual shower heads, two sinks and a barn door. Other extras include tankless water heater, laundry sink, three car garage with separate one-car garage stall perfect for a workshop and a spacious backyard. This one is SPECIAL...make it yours!

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7301 E 3rd Avenue Unit 121 Scottsdale, AZ 85251

$649,900

1 Bed

1 Bath

1,023 SqFt

Status Active

MLS # 6764366

Property Type Apartment

Price Type --

Check out this industrial-style condo at Third Avenue Lofts, located in the heart of Old Town Scottsdale. This stunning upgraded condo features an open-concept layout that maximizes space and light. As you enter, you're greeted by a spacious living area with floor-to-ceiling windows that fill the room with natural light. The gourmet kitchen is a chef's dream and the open floor plan is perfect for entertaining! Amazing location: leave the spacious patio and head straight onto 3rd Avenue for the best food and nightlife. This is available for lease-purchase, not sure what that is? We can walk you through it!

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3476 E Pinto Drive Gilbert, AZ 85296

$649,900

3 Beds

2 Baths

1,702 SqFt

Status Active

MLS # 6764649

Property Type Single Family Residence

Price Type --

Discover your oasis in Lakeview Trails at Morrison Ranch! This like-new, meticulously maintained home, built in 2019, features 3 spacious bedrooms, 2 luxurious baths, a versatile den and an additional bonus space. Upgraded throughout, the home boasts beautiful wood plank tile flooring that enhances its modern charm. The heart of the home is a large, open kitchen with a massive island, perfect for gatherings and culinary adventures. Step outside to your backyard paradise, complete with low-maintenance artificial grass, a built-in BBQ, and a cozy fire table for memorable evenings. With built-in permanent LED holiday lighting, your home shines year-round. Enjoy serene lake views, multiple playgrounds for the kiddos, and walking paths throughout this welcoming community with friendly neighbors. This gem won't last long-come see it today!!

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20131 N Sonoran Court Surprise, AZ 85374

$649,900

2 Beds

2 Baths

1,909 SqFt

Status Active

MLS # 6765537

Property Type Single Family Residence

Price Type --

One Of A Kind Custom Palo Verde Updated and Expanded. This Home Site is Very Special with Views of both Hole 1 And Hole 18 & Desert Springs End Of Driving Range. Hit Practice Balls From Your Custom Pad on the Extended Private Patio. Private Walled Courtyard for Sun Sets and Sun Rises. Cul De Sac Offers a Quite Wide Open Setting in The Grand. Interior Offers Beautilful Tile Flooring Throughout. Gourmet Kitchen with Newer Cabinets, Back Splash, Electric Range, SS Range Hood, Refrigerator , Dishwasher & Composite Sink. Beautiful Granite Counter Tops and Indirect Lighting. 10K Window Replacement In Home, H2O Concepts Whole House Filtration System. Bathrooms Custom Walk In Tile Showers, Quarts Counters, Newer Vanities and lighting. Stone Work Added to Front Of Home To Elevate Design.

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3609 W Summit Walk Drive Anthem, AZ 85086

$649,900

3 Beds

2.5 Baths

2,663 SqFt

Status Active

MLS # 6768388

Property Type Single Family Residence

Price Type --

REDUCED FOR FAST SALE Best in class Majesty Model, outstanding features abound... Shows like a model. New paint and new wood look tile floor throughout. Great Kitchen with Granite Counters and Huge Island, new gas range, upgraded pullout cabinets and large pantry. From the private gated courtyard entry this home shows like a model! Main bedroom features great walk-in closet, and an upgraded bath with Separate tub and shower and his and hers vanities. This open floorplan features a huge kitchen over-looking the family room. The family room has surround sound in place. A great home office looks out on to the private gated courtyard and make this one of Anthem's best! Did I mention completely paid off solar system...

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623 W Harvard Avenue Gilbert, AZ 85233

$649,900

4 Beds

2 Baths

2,152 SqFt

Status Active

MLS # 6773584

Property Type Single Family Residence

Price Type --

SOUGHT AFTER SILVERHAWKE ORIGINAL OWNER LOVED AND CARED FOR HOME! MANY UPDATED FEATURES INCLUDE FLOORING, GORGEOUS UPSCALE KITCHEN WITH NEW APPLIANCES, GRANITE BEVELED EDGE COUNTERS, PULL OUTS AND SOFT CLOSE DOORS/DRAWERS, ROOF HAS BEEN REPLACED WITH EXTENDED WARRANTY, HVAC UPDATED 2020, POOL RESURFACED!! NOTHING TO DO BUT PERSONALIZE, JUST MOVE IN! SO MANY EXTRAS THERE IS A LIST IN THE HOUSE WHEN YOU VISIT! SILVERHAWKE IS THE BEST NEIGHBORHOOD IN NORTHWEST GILBERT WITH FREEWAY ACCESS, DOWNTOWN GILBERT, RESTAURANTS SHOPPING ALL A VERY SHORT DISTANCE... GREENBELT & PLAY EQUIPMENT RIGHT DOWN THE STREET. OUTSIDE IS PARTY YARD WITH SELF CLEANING PEBBLE SHEEN POOL WITH NEWER FILTER, GAS GRILL, LIGHT UP BAR, CEILING FANS, MATURE CITRUS,!!! DID I MENTION THE EXTENDED LENGTH GARAGE? 3 CAR GARAGE HAS PULL DOWN STAIRS TO STORAGE, STORAGE CABINETS, CUSTOM RUBBERIZED GARAGE MATS, STORAGE CEILING RACKS, LOW MAINTENACE FRONT & REAR YARD LANDSCAPE, QUALITY BUILT POST TENSION SLAB, ... WARRANTIES TO BE PROVIDED SOON FOR ROOF AND HVAC, THIS IS A WONDERFUL HOME JUST WAITING FOR YOU IN A GREAT LOCATION

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5909 E Crocus Drive Scottsdale, AZ 85254

$649,900

3 Beds

2 Baths

1,416 SqFt

Status Active Under Contract

MLS # 6702362

Property Type Single Family Residence

Price Type --

Location location location in the MAGIC 85254 zip code. This single story popular Monterey model, block constructed Crane home is located within minutes of the Kierland corridor. Features include: light/bright ceramic tile, newer roof(2023), newer AC(2020), N/S facing, low maintenance landscape, stainless steel appliances, granite countertops, partially updated baths and lighting, oversized laundry, plenty of storage, private patios and no HOA. Opportunity is knocking...welcome home!

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20305 W Peak View Road Wittmann, AZ 85361

$649,900

3 Beds

2 Baths

3,310 SqFt

Status Active Under Contract

MLS # 6712163

Property Type Single Family Residence

Price Type --

HIGHLY MOTIVATED SELLER!!! This NEWLY EXTERIOR PAINTED home has 3 bedrooms and 2 baths plus multiple office spaces that can be used as a 4th bedroom or whatever your imagination can come up with. SO MANY UPGRADES !!! Floors, Counter tops, Paint...just to name a few. Did I mention it has just over an acre of land zoned for horses and a whopping 6 car garages, 4 are attached to the home while the other 2 are ina seperate building

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