#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.

#1 Answer to the Housing Shortage: New Construction | Simplifying The Market

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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1391 N Alexis Drive Gilbert, AZ 85234

$639,900
3 Beds
2 Baths
2,108 SqFt
Status Active
MLS # 6737857
Property Type Single Family Residence
Price Type --
Welcome to 1391 North Alexis Drive where curb appeal greets you when arriving at this beautiful, updated home on a corner lot (with a neighbor only on one side!). Every smart buyer is sure to appreciate that the driveway is shaded by a Texas Mountain Laurel and the front windows and yard are shaded by a gigantic Texas Ebony Tree. This home is well-landscaped in the front and backyard with mature shrubs and palms. Now, step inside and fall in ''house-love''! This home features a spacious split floor plan with the primary bedroom to the right upon entering, and the other bedrooms at the opposite end of the house, with a ton of amazing features in between, including a home office! Sky-high vaulted ceilings and an abundance of natural light can be found throughout this home, and the light colored wood like tile flooring perfectly compliments the cool color palette. Are you seeking a spacious living room that can accommodate gigantic sofas or sectionals and a flatscreen TV with views of your backyard oasis? Picture yourself entertaining in this crisp kitchen with stainless steel appliances including a double oven and brand new dishwasher, overlooking a sizable formal dining room and unique home bar. There's so much to enjoy! Down the hall, you'll find the linen closet and two secondary bedrooms which are about equal in size and share a full bath. The home office overlooks the entryway to the home so you can keep an eye on things while you WFH, OR convert it easily into bedroom #4. The primary bedroom has more views of that backyard oasis, and can accommodate sizable bedroom furniture. There's a private en suite bathroom with separate shower and tub, two sinks, a LARGE capacity walk-in closet. There's even more fun to be found out back in the U-shaped backyard where you can have it all! Enjoy your covered patio while you gaze beyond the walls at your neighborhood scenery with soaring palms and views of lush leafy trees, take a dip in your sparkling pool, entertain outdoors with the massive island and built in grill, and have peace of mind knowing that your dogs or other pets are safe with their own gated area with newer gravel and turf. The Superstition Meadows neighborhoods have such a great sense of community, host holiday events, and boast many original owners and so many friendly faces. THIS is the place you'll want to call home for years to come, so get ready to plant some roots on Alexis Dr!

20815 W Canyon Drive Buckeye, AZ 85396

$639,900
2 Beds
2 Baths
2,125 SqFt
Status Active
MLS # 6743163
Property Type Townhouse
Price Type --
Discover one of the most pristine golf course villas in the Vallarta neighborhood of Verrado, perfectly situated at the base of the White Tank Mountains along the 5th fairway of the Verrado Golf Club Founders Course. This stunning residence offers breathtaking panoramic views of the golf course and mountains. Nestled within a picturesque gated community, this villa provides access to exclusive amenities, including a pool, spa, and BBQ area, in addition to the full range of facilities available to all Verrado residents. Impeccably designed with exceptional attention to detail, this home is upgraded with features that cater to the most discerning buyers. The backyard retreat is truly extraordinary with an extended covered patio, travertine decking, private pool and fire pit— a perfect setting for entertaining friends and family year-round. Don't miss the chance to experience this extraordinary property. Schedule your private tour today!

3432 E Strawberry Drive Gilbert, AZ 85298

$639,900
4 Beds
3 Baths
2,080 SqFt
Status Active
MLS # 6759348
Property Type Single Family Residence
Price Type --
This stunning, highly upgraded, ready-to-move-in single-level home offers 4 bedrooms, including a guest suite, and 3 bathrooms, in the highly desirable Bridges Gilbert community. Situated on a premium greenbelt corner lot, this home features an inviting built-in fireplace and an Arizona room for extra comfort and over $75K in upgrades. The kitchen is equipped with stainless steel appliances, a gas stove, and tile flooring, with carpet only in the bedrooms. The private, low-maintenance backyard with no rear neighbors is perfect for relaxation or entertaining. Ideally located near shopping, freeway access, and A+ rated schools, The Bridges at Gilbert provides bike paths, playgrounds, a splash pad, lakes, and more, all within walking distance of Gilbert Regional Park!

15677 W Campbell Avenue Goodyear, AZ 85395

$639,900
5 Beds
3.5 Baths
3,134 SqFt
Status Active
MLS # 6777332
Property Type Single Family Residence
Price Type --
Fully renovated gorgeous home. This stunning 5 bedroom, 3.5 bathroom home combines style, comfort, and modern amenities. Renovation includes but is not limited to new AC, new appliances, new carpet, tile, LVP, new paint interior/exterior, primary bath remodel, epoxy garage floors etc. Step inside to an open-concept layout, where a bright living room flows into a gourmet kitchen with stainless steel appliances, and a central island, perfect for entertaining. The spacious master suite includes a walk-in closet and an en-suite bath with a soaking tub and separate shower. Outside, enjoy a landscaped backyard and covered patio, ideal for relaxation. Located near top-rated schools, parks, shopping, and dining, this home offers both convenience and luxury.

12229 W Planada Lane Sun City, AZ 85373

$639,900
4 Beds
2.5 Baths
3,207 SqFt
Status Active Under Contract
MLS # 6766208
Property Type Single Family Residence
Price Type --
This exceptional 4-bedroom, 2.5-bath, two-story home offers a blend of luxury and convenience, sitting next to a serene greenbelt. The spacious kitchen features a walk-in pantry, granite countertops, a kitchen island, and plantation shutters, with a new dishwasher, range, and microwave installed within the last two years. The first-floor master suite includes a separate tub and shower, a large walk-in closet, and plenty of space for relaxation. Upstairs, you'll find a spacious loft, a generous size laundry room with built-in storage, and large bedrooms each with their own walk-in closet. The home is prewired for speakers in the dining room, living room, patio, and loft, with Skylink security and additional exterior security cameras in place. The backyard is an entertainer's dream, featuring a built-in BBQ, fire pit, spa, and gazebo. A sparkling pool with an extended Baja step (installed in 2013) completes the outdoor oasis. The property also includes a 2-car garage, a 20x40 extended RV garage with 220 50-amp service, built-in storage, and a new water heater, water softener, and RO system (all new in 2024). Additional upgrades include new exterior paint (2022) and a Ring doorbell.

920 E Mitchell Drive Unit 102 Phoenix, AZ 85014

$639,900
3 Beds
2.5 Baths
2,212 SqFt
Status Active
MLS # 6766489
Property Type Townhouse
Price Type --
Jaw dropping modern townhouse in prime location of Phoenix. This townhouse offers you 2200 sq ft of real estate heaven. 3 bedrooms, 2.5 bath, and 2 car garage. Vaulted ceilings in living room with an open kitchen concept. Unit has a rooftop deck thats accessible by a spiral staircase off the great room balcony. Master bedroom has an amazing ensuite that includes dual vanity, walk in shower w/ separate tub. Kitchen includes granite countertops, ss appliances, wine fridge, custom paint through out, store front windows with coverings, ceramic tile through out main floor and luxury plank vinyl flooring on lower level. Lower level includes 2 bedrooms, full bathroom and family room. This Place will not disappoint!

10260 E White Feather Lane Unit 2003 Scottsdale, AZ 85262

$639,900
2 Beds
2 Baths
1,381 SqFt
Status Active
MLS # 6591799
Property Type Townhouse
Price Type --
Gorgeous mountain and golf course view from this 2 bd townhome in the coveted Troon Ridge gated community. Excellent quality in the upgraded rich cabinetry with granite tops and nicely appointed kitchen. Split bedroom layout perfect for guests or office, ample great room with space for large dining table and hutch. Bright and clean this property has been a single owner home and very lightly used. A convenient way to sojourn in the desert surrounded by green golf fairways, mountain vistas, abundant desert landscape and the unique rocky boulder formations specific to Troon. This private gated hidden community has a heated pool, spa, workout facility, tennis clubhouse, plus easy access to Troon North Golf. Close to 101 and the plentiful Scottsdale amenities, restaurants & shopping

4310 E John Street Gilbert, AZ 85295

$639,900
3 Beds
2.5 Baths
1,869 SqFt
Status Active
MLS # 6689144
Property Type Single Family Residence
Price Type --
This beautiful Cavalcade plan, 1869 sf single story home is our most popular plan of our Seaboard homes. Beautifully laid out with 3 bedrooms and 2.5 baths separated by an open study off a spacious great room with linear fireplace and open gourmet kitchen. The master bedroom has a French door to a large covered patio and features an roomy walk in closet and a beautifully appointed master bath highlighted by a gorgeous spa shower. Beautiful plank tile flooring shows off the wonderful great room which opens to the outside with an expansive 16' atrium glass door. The gourmet kitchen features upgraded 42'' upper Painted Linen Shaker style cabinets with upgraded crown molding. The granite countertops are highlighted by the upgraded 3 x 12 full tile backsplash. This home shows like a dream

22353 N 99th Lane Peoria, AZ 85383

$639,900
3 Beds
2 Baths
1,898 SqFt
Status Active
MLS # 6728823
Property Type Single Family Residence
Price Type --
This METICULOUSLY CARED FOR and IMMACULATELY KEPT home with GREAT ROOM floor plan will PROVIDE a SPECIAL PLACE for COMFORT and DAILY LIVING but ALSO a PLACE for ENJOYMENT and ENTERTAINMENT*You have YOUR OWN PRIVATE POOL with GREENBELT VIEWS rather than back yard neighbors, as well as the DESIRABLE MEADOWS' COMMUNITY PICKLE BALL COURTS, POOL, SPA, and SPRAWLING PARK only a few doors away*Your KITCHEN has OVERSIZED ISLAND, GAS STOVE, R/O, refrigerator included, and PANTRY*CONVENIENT BUILT IN STUDY CENTER*LARGE OWNER SUITE is split and you can APPRECIATE the added 4-ft extension*This NEWER BUILT HOME has updated CEILING FANS and PENDANT lighting, NEST thermostat, BLINK exterior CAMERAS, and ORANGE and LEMON tree planted in 2023*COME BY and SEE why YOU WILL WANT TO CALL THIS PLACE YOUR ''HOME

17425 W Tara Lane Surprise, AZ 85388

$639,900
4 Beds
2 Baths
2,185 SqFt
Status Active
MLS # 6737950
Property Type Single Family Residence
Price Type --
Seller is offering a $10,000 credit toward rate buy-down or closing costs with a full-price offer! This stunning, one-of-a-kind home has been fully remodeled with over $100K in upgrades, making it an entertainer's paradise! Located on a massive 12,000 sq ft lot, enjoy your private pool and spa in a resort-like setting. The home features 4 spacious bedrooms, 2 luxurious baths, a versatile bonus room, and a secured large dog run with a convenient doggie door for your furry friends. Host gatherings in the fabulous great room with bifold doors that seamlessly open to the outdoors, a formal dining room, and an eat-in kitchen perfect for entertaining. Step outside to find a built-in BBQ under a stylish shade structure, a putt-putt green, and a pergola with a projection system for games or.... family movie nights. The backyard is the ultimate retreat for both relaxation and entertainment! This home truly has it all.

1415 E Monterey Street Chandler, AZ 85225

$639,900
4 Beds
3 Baths
2,321 SqFt
Status Active
MLS # 6763096
Property Type Single Family Residence
Price Type --
This great 4 BR/3 Bath home is located in Superstition Ranch/AshleyPark community. It is surrounded by single level homes for privacy and has the desirable N/S exposure. The newly remodeled backyard & heated pool has artificial turf and a fun mural on the wall! New roof in 2024. New AC in 2022. Interior special features of this home are; crown molding, gas fireplace, surround sound, shutters, ceiling fans, skylight, 3 remodeled baths in 2019, water softener, RO, and stainless steel appliances.

7805 W Noble Prairie Way Florence, AZ 85132

$639,900
2 Beds
2.5 Baths
2,541 SqFt
Status Active
MLS # 6757218
Property Type Single Family Residence
Price Type --
**This is the one!!** You'll be hard pressed to find another home like this in Anthem at Merrill Ranch. Absolutely immaculate with amazing upgrades and a private Oasis for a backyard. You can tell as you pull up to this house that it stands out...amazing custom design landscape with a front courtyard to enjoy your morning coffee. Enter through a high-end custom front door to a large, open floor plan with designer finishes. Everything from the flooring to the ceiling presents custom finishes and top of the line hardware. The open floor concept combines the kitchen, eating and living space that opens up to a beautiful, over-sized backyard with resort style finishes and no neighbors behind! This includes extras such as outdoor LED lighting... WIFI controlled landscape irrigation, natural gas fire-pit and outdoor covered kitchen with grill, lighted water feature, custom remote controlled fans, custom windows coverings, Quartz countertops and oversized kitchen island, crown moulding, ceramic tile backsplash, custom pendant lighting, walk-in pantry and Butler pantry, extensions for more room in the eating and master bedroom space, and much more. This floor plan also features a den/office that could be utilized as a 3rd bedroom. This is a must see home if you are looking for one of the premier homes in the community. Combine this home with the award winning community of Anthem at Merrill Ranch and all of it's amazing amenities and you have absolute paradise! BONUS...this home can be purchased furnished.

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