#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

1199 N Melody Circle Chandler, AZ 85225

$649,000

4 Beds

3 Baths

2,997 SqFt

Status Active

MLS # 6734457

Property Type Single Family Residence

Price Type --

This stunning home sits on an oversized lot with a gorgeous interior, including 4 beds, 3 baths, an extra office, a bonus room, and a loft. (6/7 rooms). The separate living and family rooms allow you to spread out and enjoy. The large backyard is perfect; RV gate with a good-sized pad, and an extra storage room with A/C. The downstairs has a nice office with built-in cabinets and a large bedroom with a separate entrance to the outside. (perfect guest room) Upstairs has a loft with the 3 other bedrooms. The kitchen with a huge island opens to a large family room and views of the backyard. Both AC units are less than 1 year old. Newer paint, flooring, Blinds, fans, lights, etc. This home has so much to offer and is in a wonderful location. Hoa only $30.00 a month. This is a wonderful home!

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22706 N 17th Street Phoenix, AZ 85024

$649,000

4 Beds

2.5 Baths

3,181 SqFt

Status Active

MLS # 6738561

Property Type Single Family Residence

Price Type --

Spacious 2-Story Home: 4 Bbds, 2.5 Bths, Office and Enormous Loft! This stunning home has space for everything you need! Step inside to discover a versatile office or flex space, perfect for a home office or playroom w/ beautiful laminate flooring. The open-concept kitchen and dining area create an inviting atmosphere for both everyday living and entertaining. The primary bedroom is conveniently situated on the main level, featuring laminate flooring, an en-suite with a shower and tub, and a huge walk-in closet. New carpeting throughout! Upstairs, you'll be amazed with The Giant Loft! Option to build a 5th bedroom. A sizable laundry room with shelving storage. Three Large Bedrooms, all with walk-in closets. Backyard has a view fence and no neighbors behind, giving you ultimate privacy! Living in the Eagle Bluff community means you have access to top-notch education just a short walk or bike ride away to the nearby schools. The location is unbeatable. Enjoy outdoor activities at the Reach 11 Park or the Cave Buttes Recreation Area. Shopping proximity to Desert Ridge and the Shops at Norterra. You're also moments away from major highways like Loop 101, the 51, and I-17, making commuting a breeze. Plus, Costco is just a few minutes south! Don't miss your chance to make this dream home your reality!

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3732 W Shannon Street Chandler, AZ 85226

$649,000

4 Beds

3 Baths

2,417 SqFt

Status Active

MLS # 6752210

Property Type Single Family Residence

Price Type --

Fabulous home in an even better location. Located in the Kyrene school district This wonderful home has 4 bedrooms and 3 baths And a 3 car Garage. All the extras your buyer is looking for, a bedroom and bath downstairs ideal for a guest room or office. The primary bedroom has a large sitting area with a fabulous view and no homes behind it. The Primary bath is updated with a soaking tub separate shower with 2 sinks.. The Kitchen has been updated with Copper backsplash, Quartzite counters, and stainless steel appliances. 3 car garage gives you room for all your toys and the side yard has an RV gate for the extra items. This home is in the fabulous award-winning Kyrene school district and Corona Del Sol High School boundaries. The seller has updated the home with high tech security sys

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16186 W Sandia Park Drive Surprise, AZ 85374

$649,000

2 Beds

2 Baths

1,934 SqFt

Status Active

MLS # 6761331

Property Type Single Family Residence

Price Type --

Welcome to this Gorgeous 2b + Den 2-bath home located in The Grand a 45+ Community! Situated in a peaceful neighborhood, this single-level home offers the perfect blend of comfort and convenience with Leased Solar Panels. As you enter, you'll be greeted by a spacious, open-concept living and dining area, perfect for entertaining. The Kitchen features a Stainless Gas Wolf Range & Built in Hood. Ample Cabinet space, and a Breakfast bar and Large Island. The Primary bedroom boasts a large walk-in closet and an en-suite bathroom with dual sinks and a spacious walk in shower. Step outside to the private pool, low-maintenance backyard—ideal for Arizona living with a covered patio, perfect for outdoor dining or relaxation. Home was named ''Best home on Tour''

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3021 E Shangri La Road Phoenix, AZ 85028

$649,000

3 Beds

2 Baths

2,310 SqFt

Status Active

MLS # 6757744

Property Type Single Family Residence

Price Type --

This beautifully renovated home has been transformed from top to bottom, featuring an open floor plan with spacious rooms and modern upgrades throughout. Enjoy brand new luxury vinyl plank flooring, a completely remodeled kitchen, and fully renovated bathrooms. As you step inside, you're greeted by a warm, inviting atmosphere and an airy layout. The gourmet kitchen is perfect for cooking enthusiasts, designed to be the heart of the home. Situated on a large, private lot, this property is conveniently located just minutes from the 51 freeway, Paradise Valley, and Scottsdale.

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795 E Reindeer Drive Munds Park, AZ 86017

$649,000

3 Beds

2 Baths

1,305 SqFt

Status Active

MLS # 6764913

Property Type Single Family Residence

Price Type --

Imagine your electric bill being 1.09. Yes, it's true. This home includes a 65,000-dollar Tesla solar electric power system! It powers the like new, 220-volt hot tub and the rest of the entire home! Beautiful year-round home on a quiet street in a desirable area of Munds Park, lots of mature trees, 2 car garage and a separate, new 1 car garage, wood/pellet burning stove, tongue and groove wood throughout, stainless appliances, new refrigerator, new trex front deck, covered deck in back with fenced yard, large shed and new landscape gravel, newer roof (2020) new exterior paint front (2024) updated laminate flooring, updated bathrooms, kitchen, doors, lighting, fixtures, walk-in pantry, newer electrical panel, circuits and furnace, new mini-split in loft, newly painted deck (9-2024) Vaulted ceilings, This home can park 7 cars total, no HOA! Come and be a part of our wonderful Munds Park community! You will be walking distance to the well-known Pinewood Country Club and very close to the national forest, lake, hiking/ biking trails, tennis and pickleball courts, park, restaurants, convenient store, and more. Munds Park is only 17 miles South of Flagstaff and a 2-hour drive from Phoenix to escape the heat. Come see your new home in our neck of the woods!

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3128 E Cheryl Drive Phoenix, AZ 85028

$649,000

4 Beds

3 Baths

2,195 SqFt

Status Active

MLS # 6734743

Property Type Townhouse

Price Type --

SELLER CONCESSIONS OFFERED!! Built in 2019, lock & leave, ready to move in, Mountain views & a convenient location to so much, what more could you ask for? Artisan Duette is a TH community (which lives & feels like SF home because of the construction) of 22 homes that are tucked away in the Phoenix Mountain Preserve neighborhood &close to the 51. This fabulous home features 4 bedroom (plus loft), 3 bathrooms & 2 car garage. 1bd/ba downstairs. Light & bright w/ 9' & 10' ceilings, 5'' baseboards, smooth textured walls, modern lighting etc. are just some of the upgrades. A chefs kitchen w/ tons of storage, SS appliances, pull out drawers in pantry, quartz counters & spacious island opening to the living areas. 10' sliding doors open to low maintenance covered patio & yard w/ private gate to dog park/greenbelt & pool Coffee spots, dining, pet stores, grocery, pharmacy, auto services, shopping etc...are within walking distance. The new PV Mall, Trader Joes, Costco etc... are nearby. You will want to live here!!

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1263 E Brookwood Court Phoenix, AZ 85048

$649,000

4 Beds

3 Baths

2,388 SqFt

Status Active

MLS # 6740181

Property Type Single Family Residence

Price Type --

Beautiful 4 bedrooms plus loft 3 baths home at Rosewood Village in The Ahwatukee Foothills Private Gated Community. Courtyard Entry. Step inside to a Dream Kitchen with gorgeous white cabinets and beautiful countertops. Stainless steel appliances. kitchen island. Pantry Modern Light fixtures. Cozy great room with recess Lights. Neutral wood plank tile floors. Upstairs features Large Main Bedroom and Bath with separate Tub and shower large walking closet Dual Sinks 2nd & 3rd bedroom with walk in closet. Large open loft is great for playroom, Office or create your own custom space. Laundry Room with cabinets. One bedroom and baths downstairs for your guest or office. Shutters throughout the home. Modern ceiling fans. Low maintenance back yard with pavers and artificial turf area. HOA maintains front yard. Steps away from community pool. This area offers access to 202 freeway. YMCA. Shopping, Foothills Park. South Mountain Preserve for those who love to hike. Come take a Look.

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445 W Grant Avenue Williams, AZ 86046

$649,000

3 Beds

2.5 Baths

2,332 SqFt

Status Active

MLS # 6770424

Property Type Single Family Residence

Price Type --

*Owner willing to carry!* Welcome to 445 W Grant Ave. One of the largest, custom homes you'll find this close to downtown Williams! Situated perfectly on a corner lot, the grand entrance ushers you in to 9ft ceilings, a grand, great room with an open kitchen and dining room. The kitchen features a gas range, an oversized island, and an abundance of custom cabinets. Step into the capacious Primary bedroom with an en-suite bath. Primary room features grand, walk-in closets and private access to the back patio. Attached bath include dual sinks, a soaking tub and a custom, oversized shower. The home also presents two additional large bedrooms, a full bath and a partial bath for all your guest needs. This house does not lack in space or storage! With multiple, oversized storage closets, abundance in cabinets and the two separate, attached, oversized garages gives you all the storage you could need. The backyard is poised perfectly for low maintenance with space to enjoy the cool mountain county. This home would make an excellent short term rental with close access to downtown Williams, or a second home for easy lock and leave!

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3514 W Riordan Ranch Road Phoenix, AZ 85083

$649,000

5 Beds

3 Baths

2,780 SqFt

Status Active Under Contract

MLS # 6734283

Property Type Single Family Residence

Price Type --

Stunning home in the Riordan Ranch community! Situated at the back of a cul-de-sac, this cozy 5 bedroom, 3 bathroom home has it all! One bedroom and full bathroom on the first floor for privacy. Four bedrooms and a loft upstairs makes for an easy use of space for all your comfort and entertaining needs! Enjoy the summer nights in the fabulous pool with water feature and oasis like, east facing backyard. Step out to the front of the home and take a look at the amazing preserve that allows for privacy in your neighborhood! Close to I-17 freeway, shopping and dining, Sandra Day O'Conner High School and many other great amenities makes this a home you will not want to miss!

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21297 Antelope Road Paulden, AZ 86334

$649,000

3 Beds

2 Baths

1,951 SqFt

Status Active Under Contract

MLS # 6739434

Property Type Single Family Residence

Price Type --

Check out the video! Stunning views with State Land Access and Privacy! Enjoy 5 acres with, orchard and a lovely home built in 2022! This custom home has ample space with 3 bedrooms, 2 full bathrooms, office, and open floor plan. The kitchen with farmhouse sink, quartz counter tops and exquisite finishes opens up to the huge family room. The large 17x17 main bedroom has dual sinks, granite countertops, garden tub and large walk-in closet. Enjoy the great outdoors with plenty of room to customize your own fenced in land, fruit trees, chicken coop and shed. Just 15 minutes from Chino Valley shopping and services, this special place is remote but easily accessible and just close enough. Buyer to verify all listing information. Voluntary Neighborhood Road Maintenance.

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919 Panicum Drive Prescott, AZ 86305

$649,000

3 Beds

2 Baths

1,774 SqFt

Status Active

MLS # 6764679

Property Type Single Family Residence

Price Type --

Welcome to this charming 3-bedroom, 2-bathroom house located in desirable, Pinon Oaks of Prescott, AZ! The spacious interior 1774 SF features a split floor plan ensuring privacy, while the large great room seamlessly connects to the kitchen and dining area, creating an ideal space for entertaining guests or relaxing with family. You'll enjoy the primary bedroom with a remodeled ensuite bath, perfect for unwinding after a long day. Parking is a breeze, with 3 car garage and room could be made to park your RV. This property is a .42-acre level lot that backs to open space. No HOA but this community exudes a pride of ownership. Conveniently located near Willow Lake with walking trails, Fry's Food, and Embry Riddle Aeronautical University, making it easy to access shopping, recreation, and education. Don't miss the opportunity to make this lovely property your new home sweet home!

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