#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

13609 W Pinchot Avenue Avondale, AZ 85392

$640,000

5 Beds

3 Baths

3,626 SqFt

Status Active

MLS # 6735245

Property Type Single Family Residence

Price Type --

Discover your meticulously maintained Home Sweet Home in this stunning cul-de-sac property! This residence features 5 spacious bedrooms with ceiling fans, 3 baths, a killer home gym and a versatile loft. Enjoy both living and family rooms, plus a formal dining room for elegant gatherings. The primary bath offers a garden tub, separate shower, and walk-in closet. The chef's kitchen boasts an island with a breakfast bar, granite countertops, a large walk-in pantry, and upgraded cabinetry with ample storage. Additional perks include extra shelving in the laundry room and a huge backyard with a covered patio extending almost the entire width of the home, with plenty of room to add a pool. Plus, there's a park right across the street! Don't miss out on this spectacular home

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9802 S 46th Street Phoenix, AZ 85044

$640,000

4 Beds

3.5 Baths

2,417 SqFt

Status Active

MLS # 6759316

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This stunning 4-bedroom, 3.5-bathroom property offers luxury living in a serene Ahwatukee neighborhood with no HOA. The spacious design features high ceilings and large windows, flooding the home with natural light and offering breathtaking views of the heated pool, spa, and mountains beyond. The master suite is a private retreat, complete with an en-suite bathroom and a walk-in closet. The functional kitchen is equipped with reliable appliances, ample storage, and a convenient layout perfect for daily cooking or entertaining. One of the home's standout features is the windows that provide a seamless connection between indoor and outdoor living. Step outside to enjoy the large heated pool and spa, perfect for year-round relaxation and entertainment. Above, the second-story deck spans the entire length of the home, offering panoramic views of the pool, spa, and surrounding mountainsideal for enjoying your morning coffee or watching the sunset, with the high block wall providing extra privacy. Located minutes from major freeways, scenic hiking trails, golf courses, and top-tier restaurants, this home offers the best of both convenience and tranquility. Don't miss the chance to make this stunning property yours!

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11357 E Unger Avenue Mesa, AZ 85212

$640,000

4 Beds

3 Baths

2,074 SqFt

Status Active

MLS # 6767449

Property Type Single Family Residence

Price Type --

Stunning 2022 build 4/3 bath + BONUS room. Brand new pool, turf front/back valued at $55K. This home's beautiful upgrades include Sherwin Williams custom paint throughout, new hardware, lighting, and Mikasa fixtures. 12X24 Porcelain Tile, auto roller shades in all 4 bds, and bonus room with blackouts in primary. Quartz countertops, Energy efficient AC-HVAC, Whirlpool high profile appliances. Custom paint to match the home in the garage with EPOXY floors. Smart home Pentair upgraded pool equipment with smartphone controls for lights, and waterfall feature from the Pentair app. This north-south-facing home was pet-free. Tile, carpet, grout and sofa were freshly cleaned by Coconut Cleaning. Home borders a corner lot greenbelt with nobody behind you. Turn-key ready for you! TV in Den included in the sale of the home.

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3114 W Donatello Drive Phoenix, AZ 85086

$640,000

5 Beds

3 Baths

3,380 SqFt

Status Active Under Contract

MLS # 6693186

Property Type Single Family Residence

Price Type --

Location! Location! Location! Welcome to the neighborhood. This freshly painted (interior and exterior), two-story haven boasts 5 bedrooms, 3 full baths, a spacious loft, and a perfect blend of comfort and convenience. Oversized driveway with pavers. No neighbors directly across the street. Enjoy the natural desert views instead! Dive into community pools, enjoy a multi-acre park, or serve it up on the tennis courts and spike it at sand volleyball. Several tot lots are scattered throughout the community and you can join a pick-up basketball game as well. Schools, shops, and dining just minutes away, plus easy I-17 access, nearby hiking and biking trails...and Lake Pleasant a mere 25 minutes away! Welcome to the incomparable Arizona lifestyle!

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9022 E Copper Drive Sun Lakes, AZ 85248

$640,000

2 Beds

2 Baths

1,950 SqFt

Status Active Under Contract

MLS # 6758236

Property Type Single Family Residence

Price Type --

Steps away from the Iconic Diamond Lake. Extended Palmera model, corner lot, split bedrooms, plantation shutters throughout. 2BR, 2BA plus den and screened AZ room. Remodeled kitchen, 42'' mahogany finished Birch Shaker cabinets, granite counters, custom island, porcelain tiled backsplash w/antique art nouveau accent tiles, modern ss vent, induction stove top, convection oven feature, wine fridge, farm sink, R/O connected to refrigerator, and ss trash compactor. Master suite ext. 2ft w/vaulted ceilings, new granite countertops and porcelain tile walk-in shower. Custom built Murphy bed in guest room. Magazine worthy backyard 10 ft diving pool with waterfall mural, spa, beehive gas fireplace, and built-in BBQ. Sink & extra storage in laundry. Ext. garage accommodates 2 cars+ golf cart.

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3137 W Baseline Road Laveen, AZ 85339

$640,000

4 Beds

2.5 Baths

2,480 SqFt

Status Active Under Contract

MLS # 6533532

Property Type Single Family Residence

Price Type --

Welcome to this stunning and breathtaking 4-bedroom, 2.5 bathroom home that will take your breath away! This magnificent residence is the epitome of family living and offers a warm and inviting atmosphere that will make you feel right at home. As you step inside, the grandeur of this home will envelop you with a sense of awe and wonder. The spacious living room exudes an ambiance of calmness and serenity, making it the perfect place to relax and unwind after a long day. The open floor plan creates a seamless flow into the dining area and kitchen, providing a natural gathering spot for family and friends. The mother-in-law suite is a wonderful addition to this home, providing a comfortable living space for extended family or guests. Step outside to the backyard oasis that will transport you to a world of calm and relaxation. Enjoy your gatherings and afternoons in this spacious backyard w/storage shed, paved patio, a tree house, & so much more to make it your own. You also can have animal on this property like horse, chicken, sheep, etc! Don't miss this opportunity! This home also boasts a laundry room, a 2-car garage, and easy access to near by parks, shopping, and dining. Come and see for yourself why this home is the perfect place to create everlasting memories with your loved ones. Schedule your showing today and let the magic of this home take your breath away!

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5413 S Tatum Lane Gilbert, AZ 85298

Open House

$640,000

4 Beds

3 Baths

2,630 SqFt

Status Active

MLS # 6757753

Property Type Single Family Residence

Price Type --

Seller may consider buyer concessions if made in an offer. Welcome to this beautifully designed home, offering a neutral color paint scheme that complements any decor. The kitchen is a chef's dream with a functional island, all stainless steel appliances and an accent backsplash adding a touch of elegance. The primary bedroom features a spacious walk-in closet, perfect for your wardrobe needs. The primary bathroom is a haven of comfort with double sinks. Outside, a covered patio awaits for your relaxation, leading into a fenced-in backyard providing privacy and space for outdoor activities. This home is a perfect blend of style and comfort waiting for you to make it yours.

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2242 W Myrtle Drive Chandler, AZ 85248

$639,999

3 Beds

2.5 Baths

2,241 SqFt

Status Active

MLS # 6747941

Property Type Single Family Residence

Price Type --

Located in the heart of the desirable Ocotillo area, this amazing home on the double fairway offers stunning views of an award-winning golf course & your private heated spa with a waterfall. Featuring 3 bedrooms plus a loft, this home has been freshly painted inside and out using premium paint. The first floor boasts newly installed modern and durable 12mm-thick waterproof vinyl flooring, while the upstairs is outfitted with brand-new carpeting and elegant wooden shutters throughout.The gourmet island kitchen is a chef's dream, featuring classic cabinets, granite countertops, and a stylish tile backsplash. Additionally, the garage is equipped with ample storage cabinets, ceiling shelves overhead, board wall organizers, and a work station, ensuring all your organizational needs are met.

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4317 E Western Star Boulevard Phoenix, AZ 85044

Open House

$639,999

4 Beds

2 Baths

1,615 SqFt

Status Active

MLS # 6757507

Property Type Single Family Residence

Price Type --

This Home Is A True Icon Like No Other Which Is Apparent The Moment You Drive Up The Street. It Is One Of The Most Admired And Sought After And Is Finally For Sale. Be Greeted By The Multi Tier Concrete Steps And Patios, A Fire Pit, Steel Posts And Beams,Smooth Stucco Walls With Wood Facia And A New Metal Roof. The Clear Glass Front Door Completes The Entry And The Mid Century Modern Block Home With Strategic Frank Lloyd Wright Style Gray Block Walls And Accents. Concrete Stained Floors, Birch Cabinets, With Corian Counters. The Two Bathrooms Have Been Proffesionally Designed With High End Commercial Grade Fixtures. Walk In To The Backyard Oasis And Wow! The Covered Patio Open To The Large Yard, Diving Pebble Tek Pool, Detached Block Office heated and cooled With Mini Split.. Backs Wash The Separate Quarters Is Quite Amazing. Gray Block Walls With Birch Interior Facia, Contemporary LED Lighting And Glass Block Windows With Double Door Entry. The Diving Pool Has One Of The Most Unique Custom Steel Fencing And A Metal Welded Shade Sail Frame. Two Unique Gates Lead You To The Open Wash For Hiking, Biking With Entrance To The City Park And Trails To South Mountain For Miles Of Trails. The Yard Also Features A Propane Fire Pit, Raised Planters, Propane BBQ Grill And Metal And Rock Pillars.

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11188 N Blakely Street Surprise, AZ 85388

$639,995

2 Beds

2 Baths

1,530 SqFt

Status Active

MLS # 6646914

Property Type Single Family Residence

Price Type --

This amazing Toll Brothers home is located in our Active Adult section of Sterling Grove. Our Smithfield, 2 bedroom, 2 bath, 2 car home is a stunner. Starting from the 8' Iron entry door that sets off the beautiful prairie style exterior your senses will be tantalized. Finishes include 8 x 30 wood plank style floor tile thru-out with carpeted bedrooms, white floor to ceiling kitchen cabinets with a 2 tone Navy blue Island, commercial grade Kitchen-Aid appliances and marble countertops. The master bedroom and hall bath have subway style tile shower surrounds and tile floors. The master comes with double sinks and an oversize closet for all your belongings. The great room is accentuated with an aluminum corner slider featuring two 12' sliding doors, great for indoor/outdoor entertaining.

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12733 W Banyan Drive Sun City West, AZ 85375

$639,995

4 Beds

3 Baths

2,890 SqFt

Status Active

MLS # 6759547

Property Type Single Family Residence

Price Type --

Welcome to your Sun City West 4 bedroom, 3 bathroom oasis! Are you looking for 2 master suites, golf course lot, split floorplan & a fully updated home? We got all that for you and more! Enjoy coming home and entertaining in your gorgeous kitchen with an oversized island that is open to your dining room & family room. Soft close cabinetry. Dual sided fireplace compliment living spaces and give a gorgeous focal point. Luxury vinyl plank flooring throughout home. Bathrooms have fantastic upgrades including stunning tile, cabinetry & fixtures. 2 car garage with attached cabinets. New roof. Dual pane windows. Come see all the home & community have to offer!

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37520 W Padilla Street Maricopa, AZ 85138

$639,990

4 Beds

3.5 Baths

3,240 SqFt

Status Active

MLS # 6695735

Property Type Single Family Residence

Price Type --

Rancho Mirage 23 offers new single-family luxury homes in the fast-growing city of Maricopa, with access to neighborhood parks, walking paths and a community fishing lake. This incredible single-story home features 3,240 square feet, a tandem 3-car garage and 10' ceilings. The kitchen is decked out with stacked cabinetry, gourmet appliances and quartz countertops. The split floorplan is perfect for a family with 3 of the bedrooms adjacent to the Activity Room. Ready for immediate move-in! ^^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

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