#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

39931 N Wisdom Way Anthem, AZ 85086

$648,000

4 Beds

4 Baths

3,366 SqFt

Status Active

MLS # 6737778

Property Type Single Family Residence

Price Type --

Welcome to Anthem's hidden treasure. This 4-bedroom, 4-bathroom home offers more than just space - it's a lifestyle upgrade. Nestled in a quiet cul-de-sac, this property boasts an office and bonus room, perfect for remote work or pursuing hobbies. The open-concept living area features soaring ceilings and clerestory windows, bathing the space in natural light. The kitchen is a chef's dream: stainless steel appliances, granite countertops, and a built-in desk for meal planning. Crown molding adds a touch of elegance throughout. But here's the clincher - this home offers the best price per square foot for a property with a pool in Anthem. It's not just a house; it's an investment in your future and your quality of life. Why settle for ordinary when you can have extraordinary? This home isn't just on the market; it's waiting for you to make it yours. Ready to elevate your living experience?

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4346 E Earll Drive Phoenix, AZ 85018

$648,000

3 Beds

1 Bath

1,128 SqFt

Status Active

MLS # 6717228

Property Type Single Family Residence

Price Type --

Make this one yours! Welcome to Arcadia Osborn! This property offers various opportunities, from a turnkey/remodeled 3 bed, 1 bath home, to a Residential Office zoned space with various business opportunities. Covering a total of 9,282 sq. ft. corner lot, come and see what this property can do for you, or what might do for it.

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3802 N 147th Drive Goodyear, AZ 85395

$647,900

4 Beds

3 Baths

2,680 SqFt

Status Active

MLS # 6703761

Property Type Single Family Residence

Price Type --

Prepare to be enchanted by this stunning 4-bedroom, 3-bathroom residence nestled within the charming Palm Valley Community! Situated on a coveted corner lot, this home features a 3-car garage, RV gate, and lush mature landscaping. Inside, the tastefully renovated interior boasts a contemporary open floor plan with sleek lines and stylish accents. From delightful archways to fresh neutral paint, tile flooring to recessed lighting, every detail enhances the modern ambiance. The heart of the home, the kitchen, is equipped with crown-molded cabinets, built-in appliances, and a charming dining area with a bay window. The expansive primary suite beckons with a cozy sitting area, plush carpeting, an ensuite adorned with dual sinks, and a spacious walk-in closet. Additionally, the second primary bedroom offers a walk-in closet and a private bathroom, perfect for accommodating guests in comfort and style.

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33309 N Maverick Mountain Trail San Tan Valley, AZ 85144

$647,755

4 Beds

3 Baths

2,837 SqFt

Status Active

MLS # 6713882

Property Type Single Family Residence

Price Type --

Beautiful new single-story home in Sentinel at Oro Ridge. Featuring 4 bedrooms, 3 bathrooms, and an attached 3 car garage, this luxurious home is loaded with designer selections. The Executive Kitchen has a Banco diamond sink, backsplash, and a 12' multi panel sliding glass door. Highlights throughout the home include Sonoma painted harbor cabinets with 42'' uppers, quartz countertops, wood look tile, and upgraded carpets. 12' ceilings can be found in the great room. There is also a separate tub/shower with an enlarged tub. The attached 3 car garage features a garage service door. In the back yard there is a gas line installed to the patio for a future BBQ and pavers at the driveway and front porch in the front yard. Enjoy walking and biking paths, a playground, and more!

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11049 E Quartet Avenue Mesa, AZ 85212

$647,000

4 Beds

3 Baths

2,280 SqFt

Status Active Under Contract

MLS # 6766763

Property Type Single Family Residence

Price Type --

This stunning 4-bedroom, 3-bathroom corner lot home sits on a sprawling 13,542 sqft lot, offering both luxury and space! With 2,280 sqft of living area, this home features a family room, great room, and an Arizona room, all with tall ceilings, tile flooring, and soft carpet, and large windows that flood the space with natural light. The split primary bedroom includes a full bathroom and a walk-in closet. The kitchen features granite countertops, a large island, a pantry, and beautiful wood cabinets, along with both formal and eat-in dining areas. Outside, enjoy a screened-in patio, a covered patio with a built-in BBQ, and a private heated pool and spa, all set in a professionally landscaped yard with turf and gravel stones. Additional features include a 3-car garage and an RV gate!

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27227 N 147th Avenue Surprise, AZ 85387

$647,000

4 Beds

3 Baths

2,000 SqFt

Status Active

MLS # 6707494

Property Type Single Family Residence

Price Type --

REDUCED-SEND OFFERS -MOVE IN READY NEW 2024 BUILD Surrounded by $1,000,000 Homes this 4bd/3bth with Double Kitchen and CASITA. Seller Concessions available!! Boasting ADDED VALUE with a small 500 sq. ft. IN LAWS private entrance Casita ATTACHED to the 1500 sq. ft. home - Supplement AirBNB rental income or IN-Laws Quarters with small Double Masters makes this a very affordable 2000 SQ FT home. Beautiful Mountain Views, Quad trails to Lake Pleasant. Fenced and groomed property. Split Floorplan perfect for the growing family. Additional Plans available for a workshop and added detached two car garage to make 4 car Garage. This is a very unique property designed with value added, nestled around high value mountainside homes. No HOA, Truly one of a kind and a Must See

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4644 S Pluto -- Mesa, AZ 85212

$647,000

4 Beds

2.5 Baths

2,503 SqFt

Status Active Under Contract

MLS # 6654519

Property Type Single Family Residence

Price Type --

This Highly Upgraded home was built in 2021 & ready to move in now! Gently used, feels brand new!, Home offers spacious 3 bedrooms plus Office. Impressive 4 Panel Double Sliding Wall of Glass, Plank tile throughout home, Double Built In Wall Ovens, 36'' Gas Cooktop, Upgraded 8' Interior Doors, Upgraded Smooth Interior Wall Texture, Color Temp Switchable LED can lighting have replaced std recessed lighting. Newer Turf Grass. Irrigation lines in for trees in back for Privacy & Shade Family & guests will appreciate the upgraded Granite Tops & Sinks in secondary bathroom. The backyard has gorgeous, low maintenance turf, two separate sprinkler lines have been run around the perimeter for future additions.

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25985 W Tonopah Drive Buckeye, AZ 85396

$647,000

5 Beds

4 Baths

4,067 SqFt

Status Active

MLS # 6755613

Property Type Single Family Residence

Price Type --

THIS IS A MUST SEE! Welcome to this stunning, massive home located in the desirable Festival Foothills community! Boasting over 4,000 sq. ft., this spacious property features 5 bedrooms and 4 full bathrooms, including 2 luxurious master suites and a convenient downstairs bedroom and full bath—perfect for guests or multi-generational living. ALL 5 BEDROOMS HAVE WALK IN CLOSETS. The large, entertainer's kitchen is ideal for hosting, with ample space and two pantries, including a walk-in. Enjoy a variety of living spaces with a formal sitting room, living room, and an upstairs loft, offering plenty of room for relaxation or activities. Home has assumable VA loan at 3.65%! Step outside to your own private oasis, complete with a beautiful pool and spa, highlighted by a rock waterfall slide. The home also features owned solar panelsno payments requiredadding incredible energy efficiency! Also includes new hot water heater and water softener system. With no carpet downstairs, ample functional storage throughout, and a 3-car garage, this home is both elegant and practical. Don't miss out on this extraordinary home, it won't last long!

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4703 N 206th Drive Buckeye, AZ 85396

$646,900

2 Beds

2.5 Baths

2,297 SqFt

Status Active

MLS # 6722802

Property Type Single Family Residence

Price Type --

Introducing this highly desirable Lennar NextGen home, which is ONLY available as a resale in the sought-after Victory at Verrado community. Boasting 2 bedrooms, den, 2.5 bathrooms, 2 great rooms, courtyard, covered rear patio with extended pergola, and two add'l rear patio areas. This open-concept home is perfect for those who love to entertain. The gourmet kitchen is equipped with a gas range, hood, and a spacious island, flowing seamlessly into the eat-in breakfast nook. The NextGen suite has a separate entrance and features a full bathroom, bedroom, living room, and kitchen, providing a private retreat for you or your guests. Plantation shutters add a touch of elegance and privacy to this beautiful home.

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15683 W Mercer Lane Surprise, AZ 85379

$646,694

5 Beds

4 Baths

3,475 SqFt

Status Active

MLS # 6760310

Property Type Single Family Residence

Price Type --

BRAND NEW COMMUNITY. LOCATION LOCATION LOCATION. This one is located East of the 303 and has great accessibility to shopping and freeways. This home is a wonderful 5 BR, 4 bath home with a loft and formal dining and a 3-car garage. Beautiful gourmet kitchen has a large island that opens up to the great room. Upgraded Painted Linen cabinets, quartz counters with a custom backsplash and gourmet appliances. This home has the sought after bottom floor bedroom and full bath as a guest suite. Upstairs you will love the large loft, large secondary rooms with walk in closets and the Owner's suite! Owner's suite has separate tub and shower, two walk in closets and separate vanities! THIS HOME WILL BE COMPLETED IN NOVEMBER. PHOTOS ARE OF A MODEL OF THE SAME PLAN COME SEE THIS ONE

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7326 W Villa Hermosa -- Glendale, AZ 85310

$645,900

3 Beds

2 Baths

2,057 SqFt

Status Active

MLS # 6766305

Property Type Single Family Residence

Price Type --

Welcome to this beautiful 3 bedroom, 2 bathroom home, perfectly located in a cul-de-sac in North Glendale. This home boasts vaulted ceilings, creating an open and airy feel, and a spacious floor plan ideal for comfortable living. With a 3-car garage and an RV gate, there's plenty of room for parking and storage. The backyard is an oasis, featuring a sparkling pool and plenty of space for outdoor entertaining and relaxation. Whether you're hosting summer gatherings or enjoying a quiet evening by the pool, this backyard offers endless possibilities. Conveniently located near shopping, dining, entertainment, and with easy access to the freeway, this home provides both tranquility and convenience. *BONUS Pre-paid Tesla Solar Lease*

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10842 N 9th Place Phoenix, AZ 85020

$645,000

3 Beds

3 Baths

2,171 SqFt

Status Active

MLS # 6736524

Property Type Townhouse

Price Type --

Welcome to your dream home! This sophisticated 3-bedroom, 3-bath residence is surrounded by lush vegetation and stunning mountain views. Inside, you'll find custom cabinetry, granite countertops, stainless steel appliances, and an eat-in dining area. Enjoy high vaulted ceilings, clerestory windows, and brand new tile flooring. The primary bedroom is downstairs, featuring an ensuite with a new walk-in tile shower and walk-in closet. The upstairs loft is a versatile flex space with an ensuite and private balcony. The tranquil backyard/patio, with no neighbors behind, offers serene outdoor living with multiple seating areas. A short walk takes you to one of four community pools and clubhouse. This home is in the renowned Paradise Valley Schools district. Don't miss this exquisite property!

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