#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

1834 N Mitchell Street Phoenix, AZ 85006

$639,000

3 Beds

2 Baths

1,218 SqFt

Status Active

MLS # 6775620

Property Type Single Family Residence

Price Type --

This historic bungalow is truly as good as it gets, and on one of the best streets in Coronado Historic District. The original 1937 bungalow has been carefully preserved, but just about all the major systems have been recently upgraded to modern (over $120K). The house is cozy, but flows bigger with the original two bedrooms and bath on the front side of the house, and the split addition of the master suite on the rear. The front room features updated floors (2024), fireplace and gorgeous light. Modern kitchen features custom cabinets, exposed brick wall and all new appliances. Completely remodeled master suite. OWNED SOLAR!!! Multiple hospitals close by as well as close to freeways, Downtown Phx and much more.

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1903 E Ayden Court Payson, AZ 85541

$639,000

3 Beds

2 Baths

1,610 SqFt

Status Active Under Contract

MLS # 6757095

Property Type Single Family Residence

Price Type --

Nestled in the highly sought-after, newer subdivision of Chaparral Vista, in a peaceful cul de sac located off Tyler Parkway. This stunning brand-new all electric home boasts 3 spacious bedrooms and 2 luxurious bathrooms, designed with modern elegance and functionality in mind with too many upgrades to list here. To see a full list see documents. The wrap-around deck is a standout feature, providing an ideal setting for outdoor entertaining or simply relaxing while enjoying the serene surroundings. Inside, every detail has been meticulously curated with high-end upgrades that elevate the living experience. The open-concept floor plan seamlessly connects the living, dining, and kitchen areas, creating a perfect space for both everyday living and special gatherings. The kitchen is a chef's delight, featuring state-of-the-art KitchenAid appliances, sleek quartz countertops, and custom cabinetry. The master suite is a tranquil retreat, complete with a beautifully appointed en-suite bathroom featuring premium fixtures and finishes. The additional bedrooms are generously sized, offering comfort and versatility for family, guests, or a home office. With its blend of contemporary design, thoughtful upgrades, and a picturesque wrap-around deck, this home in Chaparral Vista offers an exceptional living experience. Buyer to verify property taxes with Gila County.

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4259 W Jasper Drive Chandler, AZ 85226

New

$639,000

3 Beds

2.5 Baths

2,272 SqFt

Status Active

MLS # 6766947

Property Type Single Family Residence

Price Type --

This diamond in the rough 3-bedroom, with an office that can be made into a 4th bedroom 2-bathroom, with a powder room and a pool in Chandler is waiting for your updates! The well-maintained property offers comfortable living spaces, a functional layout, and a convenient location just minutes from shopping centers, the 10 & 101 freeways, and the airport. This is the perfect opportunity to own a home in a vibrant and accessible community.

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4078 E Catclaw Street Gilbert, AZ 85296

$639,000

5 Beds

3 Baths

1,951 SqFt

Status Active

MLS # 6775699

Property Type Single Family Residence

Price Type --

Welcome to this beautiful single level home in Warner Meadow. As you enter the home through the entryway there's a secondary bedroom with a full size bathroom, which is a great option for overnight guests. Continuing on leads you straight into the kitchen with its beautiful countertops and ample cabinet space. This connects effortlessly into the dining room/great room through an open-concept layout. The primary bedroom is large with a luxurious bathroom, dual sinks and walk in closet. The cozy backyard boasts pavers and synthetic grass. This is a must see!!

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3386 W Hemingway Lane Phoenix, AZ 85086

$639,000

5 Beds

3 Baths

2,700 SqFt

Status Active

MLS # 6725354

Property Type Single Family Residence

Price Type --

Welcome to your dream home in Anthem! This stunning 5-bedroom, 3-bath beauty is not just a house; it's where your best life begins. From the charming front porch to the spacious 2-car garage and RV gate, this place has it all. Step inside to find gorgeous Spanish tile, elegant plantation shutters that make you feel right at home. Natural light floods the cozy living room and the great room, which seamlessly opens to the backyard through sliding glass doors. Now, let's talk kitchen: walk-in pantry, stainless steel appliances, and granite countertops that practically scream, ''Cook here!'' Plus, there's a breakfast bar for casual bites or quick chats. Upstairs, you'll find a versatile loft or a bonus room that could be a study, playroom, or whatever your heart desires. The main retreat is a peaceful escape, featuring double doors, an ensuite with dual sinks, and a walk-in closet that would make any fashionista swoon. But the real star? Your backyard oasis, complete with a covered patio, built-in BBQ, outdoor fireplace, and a sparkling pool with a rock waterfall - perfect for entertaining or just unwinding after a long day. And let's not forget about those solar panels keeping your energy bills in check! Living in Anthem means endless amenities: gyms, sports courts, water parks, and community events that keep the fun rolling year-round. This home is stylish, spacious, and ready for you to soak up the Arizona sunshine. Are you ready to make it yours?

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1700 E Lakeside Drive Unit 58 Gilbert, AZ 85234

$639,000

3 Beds

3 Baths

2,517 SqFt

Status Active

MLS # 6753691

Property Type Townhouse

Price Type --

Spacious home with courtyard entry in gated resort community of Val Vista Lakes! TWO PRIMARY SUITES plus another bedroom and LOFT! One primary suite w/remodeled bathroom downstairs and other primary suite w/ bathroom upstairs. 3rd bdrm is downstairs next to remodeled hall bath. Vaulted high ceilings as you enter with a spacious living area and views to the back patio. Luxury vinyl wood flooring throughout the downstairs, carpet on stairs and upstairs area. Fresh looking kitchen with white cabinetry & countertops, and farm sink with views to courtyard. Large eat in kitchen area too! This home is ideally located just steps away from the clubhouse and you can walk to the ramada and enjoy views of the lake! Living in Val Vista Lakes is resort style living with all the amenities it offers!

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1145 N 293rd Avenue Buckeye, AZ 85396

$639,000

4 Beds

2 Baths

2,067 SqFt

Status Active

MLS # 6758593

Property Type Single Family Residence

Price Type --

Discover the ultimate in custom home luxury, unencumbered by HOA fees or regulations. This stunning ranch-style residence boasts 2,067 square feet of living space on a serene 1.2-acre lot. The sophisticated open-concept living area features stylish paneled walls, vaulted ceilings, and an abundance of natural light and recessed illumination. A sleek white kitchen, complemented by a spacious island, provides an ideal setting for culinary pursuits. The serene master suite offers a tranquil retreat, complete with a spacious en-suite bathroom and ample closet space. Three additional bedrooms provide versatility for family, guests, or a home office. The expansive, upgraded backyard, valued at over $60,000, boasts full block fencing and dual RV gates, perfect for accommodating large vehicles or or horses.

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2801 E Osborn Road Phoenix, AZ 85016

$639,000

3 Beds

2.5 Baths

2,110 SqFt

Status Active

MLS # 6761770

Property Type Single Family Residence

Price Type --

This cute home is located in the vibrant Arcadia Lite neighborhood of Phoenix! This property sits on a large lot with ample on-site parking behind a secure remote-controlled gate. Inside, the home feels cozy and inviting with a large living room, featuring an updated kitchen with modern finishes and convenient bar seating, perfect for casual dining or entertaining guests. The extended garage has AC & includes a built-in workbench area, ideal for car enthusiasts or hobbyists. Enjoy the convenience of being in the heart of Arcadia Lite, just minutes from popular dining, shopping, and entertainment. This property offers the perfect blend of comfort, functionality, and prime location!

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8608 E Mariposa Drive Scottsdale, AZ 85251

$639,000

3 Beds

2 Baths

1,688 SqFt

Status Active

MLS # 6769267

Property Type Single Family Residence

Price Type --

LOCATION LOCATION LOCATION, This couldn't be better. High demand neighborhood with no HOA. Move in ready, freshly painted, lovely flooring, large bedrooms, facing north/south. Grassy area in backyard, RV Gate for all your toys. Close to Chaparral Park with lake, walking and bike paths dog park. Minutes to Scottsdale Fashion Square as well as Old Town Scottsdale, and EASY ACCESS to 101.

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25260 S Cloverland Drive Sun Lakes, AZ 85248

$639,000

3 Beds

3 Baths

2,283 SqFt

Status Active Under Contract

MLS # 6713354

Property Type Single Family Residence

Price Type --

Location, Location, Location...Popular customized Barcelona model with casita and 2.5 car garage on the finger lakes in the special active adult community of Palo Verde in Sun Lakes. Quaint gated courtyard, perfect for morning coffee. Open great room concept with enormous windows and slider looking over the serene water views. Kitchen has granite counters, pantry and ample cabinet space. Spacious master suite with sitting area and fireplace, sliders to patio, tub, walk-in shower and giant master closet with skylight. Spare bedroom with vaulted ceilings. Casita with full bathroom and walk-in closet. This one is all about the lake setting, and they don't come available often! Start enjoying gated Palo Verde with golf, tennis, pickleball, fitness center, walking paths and great restaurants.

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6735 N 10th Street Phoenix, AZ 85014

$639,000

3 Beds

2 Baths

1,703 SqFt

Status Active

MLS # 6763810

Property Type Single Family Residence

Price Type --

Vintage meets contemporary in this delightful home in the heart of north central Phoenix. Remodeled in 2019 to add new A/C, electrical panel, and all new kitchen, complete with stainless steel appliances and soft close modern cabinetry. Tons of additional upgrades added over the last 3 years, including new epoxy sewer lining, lighting/fans, roman shades, paint, baseboards, contemporary black door hardware, storage shed, block fence, side gate & front door. Abundant natural light throughout the home through efficient dual-pane windows. Huge great room with vaulted ceilings and built in fireplace. Dreamy primary suite has 2 closets including a spacious luxury walk-in. Mature fruit trees grace the private, quiet back yard, with the perfect patio for entertaining. Top rated schools.

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537 W Mountain Vista Drive Phoenix, AZ 85045

$639,000

4 Beds

2 Baths

2,050 SqFt

Status Active

MLS # 6751364

Property Type Single Family Residence

Price Type --

Home has perfect floor plan w/ large open living area w/ slate & hard wood floors w/ double door office/fourth bedroom. Kitchen features large granite breakfast bar w/ newer raised panel dove tail drawer cabinets & glass tile back splash & stainless steel appliances. All open to family room w/ fireplace & views of oversized covered patio & diving pool w/ built In spa. Entire home has natural slate tile flooring and vaulted ceilings through out. Three car garage has Incredible Built In Cabinets And Plenty Of space for vehicles & toys. Roof is three years old & HVAC is also newer for ease of future comfort. This home Is Incredible & quietly located In the Foothills Club West with easy access to freeway travel. Home backs to old Club West Golf Course on double fairway.

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