#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

17621 N Eagle Crest Drive Surprise, AZ 85374

$649,000

2 Beds

2 Baths

2,273 SqFt

Status Active

MLS # 6761486

Property Type Single Family Residence

Price Type --

Sun City Grand 2 bed 2 bath w/Den on Granite Falls South Golf Course with a great view of #16 green. Quartz counter tops and maple cabinets at the kitchen, carpet and tile throughout. A gas fireplace at the living room, double sinks at master bath and bay at master bedroom. Closet shelving system at master closet. Shutters and honeycomb blinds for window coverings, Ceiling fans, solo tubes, & water softener. Extended 3 car garage w/cabinets and a work bench. Step onto the extended e facing patio for great views and a built in gas BBQ.

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18602 E Avenida Del Ray -- Rio Verde, AZ 85263

$649,000

3 Beds

2 Baths

1,886 SqFt

Status Active

MLS # 6760968

Property Type Single Family Residence

Price Type --

Built in 1990 this well maintained Santa Fe Territorial is comfortably tucked into the active adult golf community of Rio Verde. This home is move in ready and boasts 14 foot ceilings a split 3 bed 2 bath open concept floor plan. View the beautiful Mazatzal mountain tops from the covered back patio living space, accessed by a living room slider and primary bedroom which has its own private patio access. Spacious kitchen with extra long granite bar and a dining room area. A cozy Fireplace to keep you warm on crisp desert nights. Large mature desert landscaped corner lot with a long driveway providing even more privacy. 2 car garage with a separate side entrance golf cart garage. Golf membership information available upon request. Social membership included with purchase. Rio Verde's active adult Golf Course community offers an array of activities for all. There is a private gate to access all of McDowell Regional Parks 21,000 acres of hiking and mountain biking trails. Rio Verde has a very active Tennis and Pickle Ball community. Bocce Ball parties every Wednesday and Friday afternoons, A brand new 2700 sq/.ft workout facility, lap and social pool which offers water sports and class activities, a community art room, resort style library and a separate Billiards Room - all makes for an enjoyable part of the Rio Verde lifestyle. All the above mentioned amenities are included with home ownership in Rio Verde. Golf membership information available upon request- Rio Verde has two different 18 hole courses within the community.

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1135 N Harold Street Tempe, AZ 85288

$649,000

4 Beds

3.5 Baths

2,140 SqFt

Status Active

MLS # 6759462

Property Type Single Family Residence

Price Type --

Welcome to this stunning 4-bedroom, 3.5-bathroom home that radiates modern elegance with a neutral color scheme and light, bright atmosphere throughout. The open floor plan is complemented by beautiful plank-style flooring, creating a sleek, contemporary look. Natural light pours into every room, enhancing the airy feel of the space. The heart of the home is the spacious kitchen, featuring a large island perfect for meal prep and gatherings. Conveniently included is a washer and dryer, making this home as functional as it is stylish. Ideal for both relaxation and entertaining, this property is a perfect blend of comfort and modern design.

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1139 N Harold Street Tempe, AZ 85288

$649,000

4 Beds

3.5 Baths

2,140 SqFt

Status Active

MLS # 6759465

Property Type Single Family Residence

Price Type --

Welcome to this stunning 4-bedroom, 3.5-bathroom home that radiates modern elegance with a neutral color scheme and light, bright atmosphere throughout. The open floor plan is complemented by beautiful plank-style flooring, creating a sleek, contemporary look. Natural light pours into every room, enhancing the airy feel of the space. The heart of the home is the spacious kitchen, featuring a large island perfect for meal prep and gatherings. Conveniently included is a washer and dryer, making this home as functional as it is stylish. Ideal for both relaxation and entertaining, this property is a perfect blend of comfort and modern design.

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1432 Varsity Drive Prescott, AZ 86301

$649,000

2 Beds

2 Baths

1,700 SqFt

Status Active

MLS # 6761462

Property Type Single Family Residence

Price Type --

Do you dream of evenings filled with serenity & beauty? Relax & enjoy stunning views through 12' sliding glass doors opening to an over-sized deck. These amazing views are some of the few in Astoria that will never be lost! Beautiful Prescott sunsets, views of the Golf Course, Willow Lake, the Dells, Granite Mtn., and gorgeous distant mountain views await. Set in charming Astoria in Prescott Lakes, this lovely home offers a split floor plan for privacy, & a flex space for an office/ den/ library. A beautiful kitchen with a stainless refrigerator, a large pantry, & a breakfast bar flows into the living room & out onto the deck. The primary bedroom, luxurious bath & large walk-in closet are on one side of the house, & a guest room & bath are on the other. The laundry room opens into a 2-car garage with storage. Note the details: a paver driveway & wrap-around front porch, amazing privacy from neighbors, ceramic tiled floors, gorgeous granite kitchen counters, upgraded lighting & fixtures, and more. The back yard is fenced, both the back and front yards are landscaped & on drip, & the unfinished lower level offers the potential for more living space and/or storage.

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23081 E Camina Buena Vista Queen Creek, AZ 85142

$649,000

4 Beds

3 Baths

2,308 SqFt

Status Active

MLS # 6765773

Property Type Single Family Residence

Price Type --

Pool, spa, turf, corner lot, fireplace, wine bar, & much more! This 4-BR, 3 Bath SS popular floor plan has easy access to Meridian Rd & the 24. Wainscoting accent walls take you to the immediate views of the pool with rock waterfall located through the huge multi-slide door! Great room & Kitchen features custom built ins, wine bar, huge island with front storage, back splash, & upgraded 42'' upper cabinets with lighting. gas stove, & all stainless appliances. Large owner suite includes a barn door, large walk-in shower, double sinks, and huge closet. The split floor plan has 1 BR near a full bath and 2 other BRs separated by a den and full bath. RO, H2O Softener, driveway extension, tankless H2O heater. You will love the community parks, pool, garden, splash pad, school, & walking trails!

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4310 Buffalo Ridge Wickenburg, AZ 85390

$649,000

2 Beds

2 Baths

1,986 SqFt

Status Active

MLS # 6769421

Property Type Single Family Residence

Price Type --

GATED COMMUNITY. Perfect for SNOWBIRDS! FULLY FURNISHED! Luxury living in the desert! Championship Golf Course-Big Wick-18-hole, par-71; Little Wick-9 hole, par 3 course; Dining; Pool; spa; Art Barn; Culinary Parlor; tennis; Pickleball; 3 bars; full salon; fitness room; walking path & much more! Fully UPGRADED custom home. Premium corner lot. Located next to the Wickenburg Ranch Lake Park. Move in ready, down to the pots & pans. 2 bed 2 bath. Separate dining room. Tile plank flooring thru out. Gourmet kitchen w/LG Stainless Steel appliances, oversize kitchen island, Quartz counters. Master bath spa feel, custom walk-in shower. Smart space in laundry room. 3 car garage-room for your golf cart. Landscape will be beyond your expectation. Freshly painted inside & out. Come take a look!!

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17379 W Guthrie Street Surprise, AZ 85388

$649,000

3 Beds

2.5 Baths

1,948 SqFt

Status Active

MLS # 6765870

Property Type Single Family Residence

Price Type --

No neighbor on both sides, next to a PARK, and at the end of a cul-de-sac! Over $100,000 in upgrades including iron front door, extensive brick patios, pergola, whole house gutters, shutters, upgraded kitchen appliances, new custom painted cabinets throughout, executive glass in showers, upgraded fixtures, fans, whole house tile, landscape with lighting. The Sterling Grove Golf & Country Club has an 18 hole golf course, multiple pools, gym, restaurant, and many activities for the entire family. This home is in a 55+ section.

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2917 N 8th Avenue Phoenix, AZ 85013

$649,000

3 Beds

3 Baths

1,708 SqFt

Status Active

MLS # 6770545

Property Type Single Family Residence

Price Type --

Are you a savvy, creative buyer looking for an unbelievable investment? THIS is it! Completely modern and updated single level home with a separate guest house make this property unique and open for opportunity. Whether you're thinking of ''house hacking'' with rental income or looking to create double cash-flow off one property, there are SO many options. Main house is 1081sqft & guest house 627sqft with two RV gates to create space and separation if desired. Cozy interiors feature a clean, neutral palette, ceiling fans, window blinds, and wood-look tile throughout the entire house. Sewer, electrical, A/C, new cabinets, tile, windows doors, A/C ducts, new water lines, blown in insulation - all of it is DONE and move-in ready!

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420 W Cherrywood Drive Chandler, AZ 85248

$649,000

2 Beds

2 Baths

2,618 SqFt

Status Active

MLS # 6772924

Property Type Single Family Residence

Price Type --

Welcome to Ironwood Country Club located in the heart of Sun Lakes Community and it's many amenities. This stunning Borgata model is full of recent upgrades throughout the spacious layout. This 2 BD, 2 BA amazing home features a separate den/office with built in shelving. Enjoy a formal living/dining room complete with 3'' wood Shutters. Large kitchen, casual dining area and family room with slider to the paved oversized back patio and low maintenance backyard. Or enjoy the lovely evenings on the front patio. 3 car garage with vinyl flooring, custom cabinets, and EV charging station ready.

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1416 E Westchester Drive Tempe, AZ 85283

$649,000

3 Beds

2 Baths

2,050 SqFt

Status Active

MLS # 6770433

Property Type Single Family Residence

Price Type --

Fantastic 4-bedroom home in a great Tempe location! Its charm starts with a manicured landscape, 2-car garage, & a front porch. Fabulous interior features recessed lighting, plantation shutters, layered crown molding, neutral paint, and wood-look tile flooring t/out for easy maintenance. You'll LOVE the large living room w/fireplace and the separate family room that offers versatility! The spacious eat-in kitchen has SS appliances, granite counters, travertine backsplash, ample wood cabinets, & a huge island w/breakfast bar. The double doors open to the back! Main bedroom has French doors to the back, a walk-in closet, & an ensuite w/dual vessel sinks. Enjoy the entertainer's backyard with a covered patio, well-laid pavers, firepit, citrus tree, storage shed, & a sparkling pool! Just WOW!

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2320 W Forest Pleasant Place Phoenix, AZ 85085

$649,000

5 Beds

3 Baths

3,097 SqFt

Status Active

MLS # 6772177

Property Type Single Family Residence

Price Type --

Remodeled home on a quiet cul-de-sac! Inside, you'll find a welcoming living room with high ceilings, a soothing color palette, luxury vinyl plank flooring and tall baseboards. Continue to the great room, which includes an inviting fireplace and open concept perfect for entertaining. The kitchen comes with granite counters, wood cabinetry, recessed lighting, SS appliances, walk-in pantry, and a two-tier island with breakfast bar. Double doors lead to the spacious main bedroom, complete with a light and bright ensuite offering double vanities, a jetted tub, and walk-in closet. Owned solar helps keep utilities low. The backyard showcases a covered patio and built-in BBQ for weekend get togethers. This home is a blank slate waiting for you to customize.

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