#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

2618 N 68th Place Scottsdale, AZ 85257

$645,000

3 Beds

2 Baths

1,667 SqFt

Status Active

MLS # 6770473

Property Type Single Family Residence

Price Type --

Welcome to this charming and updated 3-bedroom, 2-bathroom home located in the desirable Inmar Terrace community in South Scottsdale. Updates include: New Kitchen and Bathroom cabinets/countertops. New kitchen appliances. New showers. New tile flooring through out, no carpet! New paint inside and outside and a remodeled backyard. With just under 1,700 square feet of living space, this home is perfect for a small family looking for both comfort and convenience. The spacious floor plan includes a bright living area, a modern kitchen, and well-sized bedrooms, making it an ideal space for both everyday living and entertaining. The property features a large carport, providing extra parking for your vehicles or guests. Located close to some of Scottsdale's best entertainment, shopping, and dining options, this home offers a perfect blend of suburban peace and urban accessibility

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1924 E Rockwood Drive Phoenix, AZ 85024

New

$645,000

4 Beds

3 Baths

2,528 SqFt

Status Active

MLS # 6777756

Property Type Single Family Residence

Price Type --

Beautiful, fully remodeled home on a corner lot with an RV gate and no HOA. The interior features an open floor plan with lots of natural light, a white kitchen with quartz counters and stainless appliances. Primary suite has a cozy fireplace, walk-out deck, an extra sitting room that is currently set up with a desk, gorgeous bathroom with quartz counters, dual vanity, stand-alone bathtub and a large frameless shower. The low maintenance backyard has a heated pool, spa and artificial turf. Great family neighborhood conveniently located with easy access to freeways, excellent schools and premier shopping and dining. *New roof in 2023*

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5610 S Pirates Cove Road Tempe, AZ 85283

$645,000

4 Beds

2.5 Baths

2,116 SqFt

Status Active Under Contract

MLS # 6757717

Property Type Single Family Residence

Price Type --

Gorgeous home in the prestigious community of THE LAKES, in Tempe! This updated and meticulously maintained 2116 sf. home sits on a LARGE 10,000+ LOT, with a huge lush backyard, and a sparkling DIVING POOL. It includes 4 bedrooms and 21/2 baths, with one bedroom having additional private entry. You will be welcomed by the inviting and private courtyard. The highlights of this home include an open floor plan, yet a comfortable and cozy feel. The main living room is spacious and looks out on the lovely courtyard. The open kitchen can be accessed through the large formal dining area, or the smaller living room/sitting area that is centered around a stone fireplace, looking out to the backyard and pool. The primary suite is spacious with an en-suite bath and sliding glass doors to the back patio. The secondary bedrooms are spacious with ceiling fans and no carpet throughout the home. Tile throughout, ceiling fans in all rooms, plantation shutters, newer appliances, and several other improvements and updates (please see attached Features list). Last, but not least, is the expansive backyard with a patio that extends the length of the home, a large lush grassy area perfect for kids, dogs, or just to entertain, and a diving pool! You will have access to all of The Lakes' beautiful amenities, including the clubhouse, tennis, pickleball, racquetball, olympic pool, fitness center, plus fishing and boating on the lake! The Lakes is conveniently located with easy access to shopping, dining, and entertainment, as well as the major roads/hwy to make your daily commute convenient!

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9010 W Redbird Road Peoria, AZ 85383

$645,000

5 Beds

5 Baths

3,455 SqFt

Status Active Under Contract

MLS # 6745640

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This stunning 5-bedroom, 5-bathroom residence offers the perfect blend of luxury and functionality. The spacious floor plan is ideal for multigenerational living, featuring the primary bedroom and an additional bedroom and bathroom on the main floor. Upstairs, you'll find three more generously sized bedrooms, 3 full bathrooms, along with a versatile game room perfect for entertaining. Step outside to your private oasis, complete with a sparkling pool, ideal for those warm summer days. The 3-car garage provides ample space for vehicles and storage. This home truly has it all—don't miss the chance to make it yours!

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8265 Stardust Trail Flagstaff, AZ 86004

$645,000

3 Beds

2 Baths

1,472 SqFt

Status Active Under Contract

MLS # 6761001

Property Type Single Family Residence

Price Type --

Are you looking for a lot of space, great views, and a short drive to fun places? Then this home is perfect for you! Located just 15 minutes east of Flagstaff in the popular Doney Park area, this wonderful 3-bedroom, 2-bath, 1,472 sq. ft. ranch-style home has so much to offer. Sitting on 2.7 acres, which is fully fenced, it's the perfect spot for your pets to run around! There are also 3 extra buildings: a big 24 x 30 workshop with a 2-car garage, a 21 x 12 shed, and a 20 x 8 storage container. If you love spending time with family and friends, the outdoor space is amazing! You'll find a beautiful covered porch, flagstone paths, and a wall around the yard to keep things private and protected from the weather. Imagine your family and friends gathered around the fire pit, roasting marshmallows, or relaxing in the Jacuzzi while looking up at the starry night sky. Inside, you'll enjoy stunning views of Mount Eldon and the San Francisco Peaks through a big window in the living room and kitchen, all in one open space! Don't miss out and come take a look!

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8720 E Rancho Vista Drive Scottsdale, AZ 85251

$645,000

3 Beds

2 Baths

1,383 SqFt

Status Active Under Contract

MLS # 6764821

Property Type Single Family Residence

Price Type --

LOCATION, LOCATION, LOCATION!!!! Meticulously maintained Old Town Scottsdale home with NEW AC UNIT (2024). Full remodel completed in 2013 included new roof, new windows, full rewire of electrical, tile flooring, all new sheetrock, kitchen and bathrooms fully remodeled. Driveway and concrete on back patio replaced in 2018. This is a gem of a home to fully experience Old Town Scottsdale living.

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3774 E Shannon Street Gilbert, AZ 85295

$645,000

4 Beds

2 Baths

2,011 SqFt

Status Active Under Contract

MLS # 6767226

Property Type Single Family Residence

Price Type --

3774 E SHANNON ST, Gilbert, AZ 85295 - beautiful interior corner lot with extensive upgrades over past 5 years, new quartz countertops, new windows, wall to wall laminate flooring, gas range, RO system, Trane AC unit, garage split AC unit for exercise room/man cave, amazing oversized master tiled shower, new ceiling fans, window coverings and lighting throughout, surround sound, Owned solar - save $ on electric bill, new waterfall feature at heated pebble tec play pool and new pavers front and back. You can not replicate this home for the purchase price!

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12170 W Eagle Ridge Lane Peoria, AZ 85383

New

$645,000

4 Beds

2.5 Baths

2,908 SqFt

Status Active

MLS # 6777974

Property Type Single Family Residence

Price Type --

This beautifully appointed single story with a split floorplan is waiting for your creative ingenuity and unique vision! Some of the upgrades include crown molding, plantation shutters, higher end appliances and knotty alder cabinetry. Perfect multi-generational living! Bring your eclectic style to this wonderful home situated in Vistancia, a master planned community that includes tennis courts, hiking trails, and a swimming pool. Enjoy nearby attractions - just a15 minute drive from Lake Pleasant Regional Park and only 20 minutes from the Peoria Sports Complex, the spring training home of the Seattle Mariners and San Diego Padres.

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5277 N Tonopah Drive Eloy, AZ 85131

$645,000

2 Beds

2.5 Baths

2,268 SqFt

Status Active

MLS # 6759781

Property Type Single Family Residence

Price Type --

SOLAR! This beautiful Miramonte home is a must see! Two bedroom suites, a powder room and a den. Spacious kitchen with plenty of cabinet space and a walk-in pantry. Ceramic tile flooring throughout with carpet in the bedrooms. 2 car garage with a 4' extension and 8' garage door PLUS a full 3rd garage with lots of extra space for your workshop.

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18936 E Amethyst Drive Rio Verde, AZ 85263

$645,000

2 Beds

2.5 Baths

2,015 SqFt

Status Active

MLS # 6745521

Property Type Townhouse

Price Type --

End unit townhome in a quiet setting. 2 Bedrooms, 2 Baths. Den/Office- currently set up as an art studio with barn doors. Primary Suite has dual vanities, walk in shower, linen storage, large closet. Guest room currently set up as an office w/ walk in closet and hardwood floor. Guest bath with single vanity and new Kohler therapeutic walk- in tub/jacuzzi/shower. Great room adjacent to kitchen with patio access. Gourmet kitchen with desirable 6 burner Gas Range with dual ovens, warming drawer, microwave, Bosch fridge, appliance garage, granite counters. Casual dining area. Laundry room w/ sink & built in desk. Covered patio with extension for plenty of outdoor seating & entertaining. Lush landscaping. 2 car plus golf cart garage. Whole house water filtration system. Come , see, buy!

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28210 N Crook Court Rio Verde, AZ 85263

$645,000

2 Beds

2 Baths

1,543 SqFt

Status Active

MLS # 6618358

Property Type Single Family Residence

Price Type --

This delightful Desert Retreat entices from arrival with the oversized cul-de-sac homesite. The thoughtfully designed one-level contemporary floor plan emits an abundance of glass that bathes the space in natural light while seamlessly blending indoor and outdoor living. The resort-like back yard is a private oasis, featuring a sleek linear pool, contemporary stacked stone water features and a harmonious mix of desert landscape, artificial turf and citrus trees. The heart-of-the-home is a designer kitchen combining style with functionality. A spacious island with bar seating invites both casual meals and lively gatherings, while the oversized walk-in pantry ensures ample storage space. The attention to detail is evident in every corner enhancing the overall aesthetic. The private primary suite is a sanctuary of comfort, boasting sitting space and a graciously proportioned spa-like bath with generous walk-in closet. The well-appointed guest bedroom and bath are thoughtfully separated from the primary suite, providing privacy and convenience for both residents and visitors. Beyond the allure of the home itself, the Trilogy Verde River Golf and Social Club adds another layer of luxury to the lifestyle. Enjoy breathtaking views of the adjacent Tonto National Forest with panoramic vistas of the Mazatzal Mountains and the iconic Four Peaks. Whether indulging in golf, tennis, pickleball, or unwinding at the spa and fitness center, this community offers a diverse range of amenities. Dining and events further enrich the social fabric, making every day an opportunity to experience the best in contemporary living. Welcome to a home where modern elegance meets Arizona's stunning natural beauty.

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4106 E Lavender Lane Phoenix, AZ 85044

$645,000

4 Beds

2.5 Baths

2,418 SqFt

Status Active

MLS # 6697243

Property Type Single Family Residence

Price Type --

Beautiful home with new master bathroom luxury vinyl flooring just installed . New inside paint 2024. 4 bedroom, 2.5 bath plus a den. 18 inch tile. Living and family rooms with a separate formal dining area. Kitchen with raised-panel cabinetry opens up to the family room and a brick fireplace. Large laundry room with cabinets and pantry. Vaulted ceilings, upgraded light fixtures and ceiling fans throughout. Large secondary bedrooms. Wired for security system. Garage has cabinets and work bench plus pull down attic stairs with fully floored attic for more storage. Huge cul-de-sac lot with synthetic turf, pavers, ramada sitting area, big covered patio and RV gate. Great Mountain Park Ranch location with parks and 3 community pools - one within walking distance!

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