#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

26233 N 133rd Avenue Peoria, AZ 85383

$635,000

4 Beds

3.5 Baths

3,005 SqFt

Status Active

MLS # 6776183

Property Type Single Family Residence

Price Type --

Built in 2022! 4 bed 3.5 bath home w/ a loft & a 3 car garage located in Rancho Cabrillo community in North Peoria. Paver driveway & double side gate. Wood-like tile in the main traffic areas. The kitchen is open to the family room & includes a huge island, quartz counter tops, gas range, premium stainless steel appliances & a pantry. The primary suite is over-sized & the primary bathroom includes a huge shower, dual sinks, quartz counters & a large walk-in closet. Backyard is a blank canvas, plenty of room for a pool. Open greenspace across the street & beautiful mountain view from the backyard! Walking distance to A+ schools & parks.

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4512 W Stoneman Drive Anthem, AZ 85086

$635,000

5 Beds

3 Baths

2,822 SqFt

Status Active

MLS # 6775656

Property Type Single Family Residence

Price Type --

**Stunning 5-Bedroom Home with Solar and Pool!** Welcome to your dream home! This beautifully recently painted residence boasts 5 spacious bedrooms and 3 full baths, offering plenty of room for everyone. Enjoy the convenience of two new AC units, ensuring year-round comfort, and a central vacuum system for easy cleaning. Step outside to your private oasis featuring a refreshing pool, perfect for relaxing and entertaining. The excellent layout includes a loft that can be customized to fit your lifestyle—think home office, playroom, or media space! Located within walking distance to a highly-rated middle school and a fantastic park, this home combines tranquility with accessibility. Plus, with solar panels, say goodbye to high APS bills and hello to energy savings!

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8245 E Bell Road Unit 144 Scottsdale, AZ 85260

$635,000

2 Beds

2 Baths

1,472 SqFt

Status Active

MLS # 6776536

Property Type Apartment

Price Type --

Come see this Stunning luxury condo inside the highly sought after Montana Del Sol gated golf community on the TPC Scottsdale course! Just down the street from the Fairmont Princess Hotel & across the street from multiple parks. Home features a chefs kitchen with newer quartz slab counters, refurbished custom cabinets, & huge kitchen breakfast bar. Gorgeous plantation shutters throughout, both bathrooms have been heavily updated in beautiful modern farmhouse fashion. Huge master en-suite double sinks, large walk in shower, & oversized custom master closet. Rare two car garage is a bonus. Nicely updated baseboard, lighting fixtures, faucets, etc! Close to 101 freeway for easy commute, Kierland commons outdoor mall, countless restaurants and shopping! Can be purchased fully furnished too!

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2686 E Westchester Drive Chandler, AZ 85249

$635,000

4 Beds

2 Baths

2,421 SqFt

Status Active Under Contract

MLS # 6693315

Property Type Single Family Residence

Price Type --

Beautiful 4 bed/2 bath w/3 car garage in desirable Sun River Community. Great room floor plan with split master. Formal dining room. Kitchen - 42 inch staggered cabinets, side by side refrigerator, center island, breakfast bar, pantry with pull out shelves and breakfast nook. Custom media niche. Tile throughout except bedrooms. Oversized master bedroom. Master bathroom - separate tub/shower, glass block window, 2 sinks and vanity area. Huge walk in closet. Hall bath has 2 sinks. Over-sized, private backyard with 10' access gate.

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5100 E Rancho Paloma Drive Unit 2026 Cave Creek, AZ 85331

$635,000

2 Beds

2 Baths

1,990 SqFt

Status Active

MLS # 6766794

Property Type Townhouse

Price Type --

Discover this beautifully upgraded townhome in the highly sought-after Rancho North community, renowned for its privacy and breathtaking mountain and desert views. The spacious great room layout features two generous bedrooms, a large den, two full baths, and a two-car garage. The interior showcases stylish white cabinets, quartz countertops, a gas stove, and a spacious primary bathroom with an oversized shower. A neutral color palette creates a warm and inviting atmosphere. Two large sliding doors lead to a private balcony, ideal for enjoying the tranquil desert ambiance and unobstructed mountain vistas. With large picture windows that flood the home with natural light, this townhome offers a bright and airy feel. The community boasts fantastic amenities, including a heated pool, spa,BBQ area and workout facility. You'll also be conveniently located near shopping, dining, and outdoor activities like hiking and biking. This home is Energy Star Certified and features smart home technology, including WiFi door and garage locking and thermostat control, along with an EV charging station. Don't miss this exceptional opportunity!

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15530 N 78th Avenue Peoria, AZ 85382

$635,000

5 Beds

3 Baths

3,026 SqFt

Status Active

MLS # 6769251

Property Type Single Family Residence

Price Type --

Seller may consider buyer concessions if made in an offer. Welcome to your dream home, featuring many desirable attributes. The neutral color scheme and fresh interior paint create a calming ambiance. The kitchen is a cook's delight with a central island. The primary bedroom includes a walk-in closet and an en-suite bathroom with double sinks, a separate tub, and a shower. Enjoy cozy evenings by the fireplace. The fenced backyard is perfect for entertaining, with a private in-ground pool, a covered patio, and a storage shed. Our lawn is adorned with low maintenance landscaping, allowing you to enjoy the aesthetics without the additional work. This home offers comfort, convenience, and style in equal measure.

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15534 W Las Verdes Way Surprise, AZ 85374

$635,000

2 Beds

2 Baths

2,276 SqFt

Status Active Under Contract

MLS # 6767014

Property Type Single Family Residence

Price Type --

This immaculately maintained home in the heart of Sun City Grand shines brighter than the rest! From the paver courtyard to the heated self cleaning pool and spa, 3 car garage AND newer roof, this home truly has it all. Don't miss out on making this stunning Coronado model your own - inquire now to find out more about all the incredible features this home and community have to offer!

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14200 W Village Parkway Unit 2128 Litchfield Park, AZ 85340

$635,000

2 Beds

2 Baths

1,896 SqFt

Status Active

MLS # 6744120

Property Type Townhouse

Price Type --

Nestled within the impressive gated Wigwam Golf Community, this single-story townhome is a haven of elegance and comfort. With two spacious bedrooms, a versatile den, and a thoughtful layout, this home offers a unique blend of style and functionality. Upon entering, you are greeted by a warm, inviting living area that flows seamlessly into a well-appointed kitchen. The kitchen, equipped with modern appliances and ample counter space, is perfect for both casual meals and entertaining guests. The two bedrooms offer a tranquil retreat, each spacious and filled with natural light. The master suite is particularly impressive, featuring ample storage and a luxurious bathroom that promises relaxation. Adding to the home's appeal is a versatile den, which could serve as a home office... a library, or a cozy entertainment room. This additional space provides flexibility to cater to your lifestyle needs. Outside, the property is equally inspiring. The meticulously maintained landscape adds to the home's curb appeal, while the community's amenities, including the renowned Wigwam Golf Course, promise a lifestyle of leisure and convenience. This townhome is more than just a place to live, it's a sanctuary where comfort meets elegance, making it a perfect place to call home.

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8027 W Northview Avenue Glendale, AZ 85303

$635,000

5 Beds

3.5 Baths

3,240 SqFt

Status Active

MLS # 6708412

Property Type Single Family Residence

Price Type --

Gorgeous 5 Bedroom, 3.5 Bathroom home on a corner lot, across from a little park in a desirable gated community. The designer kitchen opens into the family room with high ceilings. There is a separate area off the main room for an office, pool table, workout area, or? Upgrades include a huge sliding glass back door, a Premium Lot, the front of the home with custom stone, The master bath has an upgraded tub/shower, and more. One of the bigger homes in the subdivision. The quiet enjoyable gated community is close to the 101 freeway, restaurants, and shopping. Westgate and other entertainment districts are also located in all directions. The backyard is good-sized and perfect for a pool or for you to create your dream backyard. Agents Must read private remarks.

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694 W Ebony Way Chandler, AZ 85248

$635,000

3 Beds

2 Baths

1,979 SqFt

Status Active

MLS # 6724517

Property Type Single Family Residence

Price Type --

NEW PRICE! Single level home on oversized premium lot nestled in the heart of Chandler! This home has been meticulously maintained & will attract the buyer who desires a home for relaxing & entertaining. NEW ROOF in 2019! NEW HVAC units in 2021. Updated kitchen that offers granite counters, upgraded 42'' upper cabinets, island, stainless steel appliances & breakfast bar for extra seating. Flex space off of kitchen will accomodate a large dining table or leave it open; includes passthrough window to outside. Massive living space for giant sectionals & TV's. Den off of entry could be converted to a 4th bedroom. Primary bedroom split from other bedrooms w/ separate exit to patio. Primary bath w/ double sinks, walk-in closet & sep tub & shower. Ready to relax or entertain? Step out to oversize lot w/ large 16,000 gallon pool, extended covered patio w/ stamped concrete plus storage shed complete with power! Great hobby room! RV gate with paved surface to park a trailer or boat or extra car. Very popular split 3 car garage that makes single car garage with AC wall unit & sink a great shop or maybe a gym? 240V outlets in both garages. Close to 101 and 202 and the Chandler tech corridor. Shopping & Dining nearby plus close to downtown Chandler. Top rated schools add to the allure of this area.

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10405 W Patrick Lane Peoria, AZ 85383

$635,000

4 Beds

2 Baths

2,313 SqFt

Status Active

MLS # 6719383

Property Type Single Family Residence

Price Type --

JUST REDUCED! DON'T MISS THIS AMAZING UPDATED HOME! Absolute pride of ownership in the popular Ironwood community in Northwest Peoria. Open kitchen with white upgraded cabinets and quartz counters. Large and spacious bedrooms. Updated bathrooms and showers. Custom crown molding and barn door. Sparkling private pool perfect for entertaining. Spacious lot tucked back in the neighborhood. Epoxy flooring in the garage and plenty of storage. AC duct upgraded to solid to solid material. Top rated Peoria schools and close to Candeo, Great Hearts, and Basis. Don't miss this meticulously maintained home in one of the best established communities in NW Peoria. Additionally to the garage there are 3 driveway spaces.

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4318 E Smokehouse Trail Cave Creek, AZ 85331

$635,000

4 Beds

3 Baths

2,412 SqFt

Status Active

MLS # 6721909

Property Type Single Family Residence

Price Type --

Seller may consider buyer concessions if made in an offer. Welcome to this charming property that combines modern amenities with elegant charm. Recently updated with fresh interior paint and new flooring in parts, the neutral color scheme creates a calming atmosphere for all who enter. The kitchen is a cook's delight, featuring an inviting island and stainless steel appliances. Relax or entertain on the covered patio or enjoy privacy in the fenced backyard. This sought-after addition provides ample space for daily routines. From indoor comfort to outdoor luxuries, this property blends modern comfort with classic charm. If you seek a meticulously maintained home with exceptional attention to detail, don't miss the chance to make this beautifully updated property yours. It's the perfect plac

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