#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

2122 W Red Range Way Phoenix, AZ 85085

$649,900

4 Beds

2.5 Baths

2,714 SqFt

Status Active

MLS # 6738188

Property Type Single Family Residence

Price Type --

Welcome to your dream home in a gated community! This beautiful property boasts a gas fireplace in the formal living room, complemented by elegant wood-look tile floors that extend into the family room. The spacious kitchen features double ovens, perfect for any home chef. The split floorplan ensures privacy, with the completely renovated primary bathroom as a luxurious retreat. All secondary bedrooms have new carpet for added comfort. Step outside to an extended paver patio, ideal for entertaining. The home also includes a newly painted exterior, a brand-new Trane AC, a newer water heater, and an epoxy-coated garage floor with built-in cabinets.

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3609 W Summit Walk Drive Anthem, AZ 85086

$649,900

3 Beds

2.5 Baths

2,663 SqFt

Status Active

MLS # 6768388

Property Type Single Family Residence

Price Type --

REDUCED FOR FAST SALE Best in class Majesty Model, outstanding features abound... Shows like a model. New paint and new wood look tile floor throughout. Great Kitchen with Granite Counters and Huge Island, new gas range, upgraded pullout cabinets and large pantry. From the private gated courtyard entry this home shows like a model! Main bedroom features great walk-in closet, and an upgraded bath with Separate tub and shower and his and hers vanities. This open floorplan features a huge kitchen over-looking the family room. The family room has surround sound in place. A great home office looks out on to the private gated courtyard and make this one of Anthem's best! Did I mention completely paid off solar system...

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5803 N 88th Lane Glendale, AZ 85305

$649,900

5 Beds

4.5 Baths

3,018 SqFt

Status Active

MLS # 6740942

Property Type Single Family Residence

Price Type --

Welcome to your dream home in Glendale, near the Cardinals Stadium and Westgate. This stunning residence offers five spacious bedrooms and four and a half bathrooms, providing comfort for the entire family. You'll love the elegant design and modern upgrades throughout. The main floor features a grand open-concept living area, perfect for entertaining. The gourmet kitchen boasts top-of-the-line appliances and sleek countertops. Upstairs, a large loft offers versatile space for a home office or playroom. Each bedroom is designed for comfort, offering a peaceful retreat. Inspected and approved by Inspector CYFY Home Inspections, this property meets high standards of quality and safety. Don't miss the chance to own this exceptional home!

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12940 N Northstar Drive Fountain Hills, AZ 85268

$649,900

2 Beds

2.5 Baths

1,502 SqFt

Status Active

MLS # 6748159

Property Type Single Family Residence

Price Type --

High ceilings and plantation shutters give this 2-bedroom, 2.5 bath open-concept condo a spacious feel. You'll love the large screen porch with sun-blocking shades, patio, colorful landscaping, and beautiful view of the mountains beyond. The primary bedroom is spacious and both bedrooms feature an ensuite bath and walk-in closet. The kitchen and large laundry room/pantry provide plenty of storage. A gas fireplace separates living and dining areas. And the powder room is plus! Centrally located in the heart of Fountain Hills, The Enclave is a gated, dog-friendly community with a pool - walkable to ''everything downtown.''

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17724 W Ocotillo Avenue Goodyear, AZ 85338

$649,900

3 Beds

3 Baths

2,718 SqFt

Status Active

MLS # 6754137

Property Type Single Family Residence

Price Type --

Experience mountain living in this beautiful, gated semi-custom TW Lewis home in Estrella Mountain Ranch. Located on a spacious corner lot just under 1/3 acre, this home is filled with luxury upgrades. The master bedroom offers an extended patio and elegant single lite door, while the master bath features a tiled snail shower. The cozy living area includes a fireplace with custom media niches, and the 3-car garage provides ample space with a service door. Enjoy energy-efficient solar shades, security doors, and a pebble stone driveway. The expansive backyard is ready for your dream pool or oasis.

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249 E Grandview Street Mesa, AZ 85201

$649,900

4 Beds

2 Baths

2,559 SqFt

Status Active

MLS # 6756270

Property Type Single Family Residence

Price Type --

Rare opportunity to own a 4-bedroom, 2-bathroom home in the highly sought-after Hohokam Village neighborhood with no HOA! This inviting home features an open floor plan, perfect for entertaining, with a cozy fireplace in the great room. Recent updates include brand new flooring throughout, fresh interior paint, and upgraded bathrooms. Step outside to your private backyard oasis, complete with a sparkling pebble tec pool, a large covered patio, and lush landscaping. Additional recent improvements include roof and pool repairs, along with new hardware throughout. Don't miss out on this gem!

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2508 E Nancy Lane Phoenix, AZ 85042

$649,900

4 Beds

2.5 Baths

2,569 SqFt

Status Active

MLS # 6757871

Property Type Single Family Residence

Price Type --

Your new dream home comes complete with a white picket fence and mountain views! Ideally located within a gated community, this north/south facing property has SO many extras! Premium lot next to a walking path to the east. Enter your private front courtyard through a wrought iron gate. Once inside, you'll love the stunning chef's kitchen with HUGE walk-in pantry, granite counters, backsplash tiles added to large island, pendant lights, R/O system and large drawers under the cooktop. Primary bath features a walk-in shower with dual shower heads, two sinks and a barn door. Other extras include tankless water heater, laundry sink, three car garage with separate one-car garage stall perfect for a workshop and a spacious backyard. This one is SPECIAL...make it yours!

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15758 S Maui Circle Arizona City, AZ 85123

$649,900

3 Beds

3 Baths

3,039 SqFt

Status Active

MLS # 6744179

Property Type Single Family Residence

Price Type --

Welcome to this exquisite custom waterfront home with a fully self-contained casita! Nestled in a peaceful cul-de-sac, offering both privacy and luxury living. Main house features an expansive chef-inspired kitchen with a massive island. Enjoy the split floor plan, high ceilings, and a fully enclosed Arizona room with breathtaking water views. The fully self-contained Casita is perfect for guests or multigenerational living, with its own living area, full kitchen, and a private back patio overlooking the water. This one-of-a-kind property combines elegant design, functionality, and serene waterfront living in a highly sought-after location. The spacious, move-in-ready design is complemented by low-maintenance landscaping, apex garage with ample storage adds to the home's convenience. This home also boasts an additional section with private entry, living room, kitchen, bathroom, and bedroom. Don't miss the opportunity to make this stunning property your new home!

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7301 E 3rd Avenue Unit 121 Scottsdale, AZ 85251

$649,900

1 Bed

1 Bath

1,023 SqFt

Status Active

MLS # 6764366

Property Type Apartment

Price Type --

Check out this industrial-style condo at Third Avenue Lofts, located in the heart of Old Town Scottsdale. This stunning upgraded condo features an open-concept layout that maximizes space and light. As you enter, you're greeted by a spacious living area with floor-to-ceiling windows that fill the room with natural light. The gourmet kitchen is a chef's dream and the open floor plan is perfect for entertaining! Amazing location: leave the spacious patio and head straight onto 3rd Avenue for the best food and nightlife. This is available for lease-purchase, not sure what that is? We can walk you through it!

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8815 W Carole Lane Glendale, AZ 85305

$649,900

6 Beds

3 Baths

3,408 SqFt

Status Active

MLS # 6637555

Property Type Single Family Residence

Price Type --

WELCOME TO YOUR DREAM HOME OVER 3408 SF. 6 BEDROOMS AND 3 BATHROOMS.FOLLOW THROUGH TO THE AMAZING LIVING SPACE AND BEAUTIFUL KITCHEN WITH GRANITE COUNTERS, GREAT DINING AREA, LOVELY MASTER WITH EN SUITE BATH.LARGE BACKYARD WITH PEBBLE TEC POOL. ONE MINUTE FROM CARDINALS' STADIUM, ONE MINTE FROM WEST GATE MALL AND 101 FREEWAY.

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3476 E Pinto Drive Gilbert, AZ 85296

$649,900

3 Beds

2 Baths

1,702 SqFt

Status Active

MLS # 6764649

Property Type Single Family Residence

Price Type --

Discover your oasis in Lakeview Trails at Morrison Ranch! This like-new, meticulously maintained home, built in 2019, features 3 spacious bedrooms, 2 luxurious baths, a versatile den and an additional bonus space. Upgraded throughout, the home boasts beautiful wood plank tile flooring that enhances its modern charm. The heart of the home is a large, open kitchen with a massive island, perfect for gatherings and culinary adventures. Step outside to your backyard paradise, complete with low-maintenance artificial grass, a built-in BBQ, and a cozy fire table for memorable evenings. With built-in permanent LED holiday lighting, your home shines year-round. Enjoy serene lake views, multiple playgrounds for the kiddos, and walking paths throughout this welcoming community with friendly neighbors. This gem won't last long-come see it today!!

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11133 E Ocaso Avenue Mesa, AZ 85212

$649,900

2 Beds

2 Baths

1,981 SqFt

Status Active

MLS # 6714145

Property Type Single Family Residence

Price Type --

*** THIS IS THE ONE *** Located in the 55+ Community of Sunland Springs Village *** Originally built like the model with all of the interior upgrades *** The Popular 1950 Floor Plan *** Large Front & Back Patio's *** Built-in Back-yard BBQ *** Putting Green *** Outdoor Jacuzi *** Over sized Garage With 4 ft Extension / Built-in Cabinets / Epoxy Floor / Tankless Hot Water Heater / Water Softener *** Large Master Bath With Walk-in Shower *** Let the Pictures Speak for them-selves *** Don't let this one get away!

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