#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

17227 W Middlebury Street Surprise, AZ 85388

$645,000

2 Beds

2.5 Baths

2,001 SqFt

Status Active

MLS # 6669966

Property Type Single Family Residence

Price Type --

Brand new home! The Potomac's inviting covered entry and foyer reveal a spacious office, expansive great room (with 20 ft MULTI-PANEL SLIDING STACKING DOOR) and casual dining area, and the desirable covered patio beyond. The well-designed kitchen is equipped with a large center island with waterfall edge, breakfast bar, plenty of counter and cabinet space, and huge walk-in pantry. The serene primary bedroom suite is highlighted by a sizable walk-in closet and spa-like primary bath with dual-sink vanity, large luxe glass-enclosed shower, linen storage, and private water closet. The sizable 2nd bedroom features an ample closet and private full bath. Or buy as a rental (the Sterling Grove Grove Golf & Country Club rental market is HOT right now). House is 100% virtually landscaped/staged.

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13198 W Crestvale Drive Peoria, AZ 85383

$645,000

4 Beds

3 Baths

2,222 SqFt

Status Active

MLS # 6682953

Property Type Single Family Residence

Price Type --

HUGE PRICE REDUCTION! ATTACHED PRIVATE GUEST SUITE! This space could also be used as a tucked away kids space. With 4 beds, 3 baths, & a 2-car garage with storage, this gem offers comfort & convenience. A desirable open layout enhanced with tall ceilings, an accented wall, a trending palette, wood-plank tile flooring, & sliding glass doors, merging the indoor with the outdoor poolside living. The gourmet kitchen is a homemaker's dream, featuring granite counters, recessed fixtures, a walk-in pantry, ample wood cabinetry with crown molding, an island with a breakfast bar, & SS appliances, which includes a gas cooktop & a wall oven. Retreat to the carpeted main suite, highlighting a pristine private bathroom with dual sinks, a step-in glass shower, & a walk-in close The sizable guest's quarter provides a living room, a kitchenette, & a bathroom. Have fun in the large backyard, complete with a covered patio, artificial turf, pavers, an outdoor wooden swing, & a crystal blue pool. Move-in ready!

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5317 W St Kateri Drive Laveen, AZ 85339

$645,000

5 Beds

3 Baths

4,040 SqFt

Status Active

MLS # 6704173

Property Type Single Family Residence

Price Type --

Large Fully remodeled like New !! 5 bedroom, 3 bathroom, 3 Car Garage Cul-de-Sac home in South Phoenix in well established Laveen community. New Tile floor and baseboards downstairs and New Carpet and Pad throughout home. Upgraded kitchen w/ Quartz Countertops and Exquisite Backsplash. Stainless Steel appliances and recessed lighting. Large island for plenty of counter space and entertaining. Spacious walk-in pantry. Living Room and Formal Dining area.. All bathrooms upgraded with tile surround. 1 bedroom with full walk-in shower downstairs and all bedrooms boast Walk-in Closets. Pre-wired for Surround Sound. Close to new shopping and new Loop 202 for quick commute. Backyard has full covered patio and grassy area. Close to park at end of street. MUST SEE!!

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8027 W Northview Avenue Glendale, AZ 85303

$645,000

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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632 N 72nd Place Scottsdale, AZ 85257

$645,000

4 Beds

2 Baths

1,990 SqFt

Status Active

MLS # 6727478

Property Type Single Family Residence

Price Type --

Fresh paint, new flooring, new kitchen features waterfall counter top, new restrooms. Homes has been remodeled and is ready for its new owner. Dual pane windows through the home. Shopping retail, entertainment, and restaurants very close.

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6565 E Thomas Road Unit 1126 Scottsdale, AZ 85251

$645,000

3 Beds

2 Baths

1,569 SqFt

Status Active

MLS # 6740313

Property Type Townhouse

Price Type --

Location, Lifestyle & Luxurious Living in Scottsdale AZ! This is a pristine, urban condo with rare 2 car attached garage. This 3 bedroom, 2 bath townhome offers a spacious kitchen - open concept - dining and great room. Large primary bedroom with an en suite, with dual sinks, separate shower, luxurious bath and large walk-in closet. The additional bedrooms are privately split from the primary bedroom. Enjoy Arizona sunrises from your private balcony. Diamante's gated community offers two resort style pools and plenty of gas grills; perfect for entertaining. Just minutes away from Old Town Scottsdale, Arcadia, and Phoenix Sky Harbor airport, this location can't be beat!

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10744 W Briles Road Peoria, AZ 85383

$645,000

3 Beds

2.5 Baths

2,512 SqFt

Status Active

MLS # 6747063

Property Type Single Family Residence

Price Type --

This gorgeous home with a sparkling POOL is move in ready & fully upgraded! Gourmet kitchen w/ white cabinets, stainless steel appliances, 5 burner gas range w/ hood, wine fridge, large pantry & granite counters. Tandem garage 48' long to fit your SUV, boat, etc. Great floor plan w/ den (or bedroom) or could change to a formal living in front, large great room, soaring vaulted ceilings bringing natural light throughout the whole home. The powder room downstairs can easily have a shower added. Plumbing already installed. Upstairs is open loft, two large bedrooms and the primary suite. Backyard features sparkling pool and covered patio w/ low maintenance turf that has sprinkler system to keep it cool for your kids/pets. Across the street from the park.

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5100 E Rancho Paloma Drive Unit 2059 Cave Creek, AZ 85331

$645,000

2 Beds

2 Baths

1,990 SqFt

Status Active

MLS # 6749719

Property Type Apartment

Price Type --

VIEWS, VIEWS, VIEWS! Discover the best location for this end-unit condo in a beautiful newer and spacious gated community in Cave Creek. This residence offers generous square footage, featuring 2 bedrooms +an open den, and bright, open floor plan freshly painted & move-in ready! Meticulously maintained, home showcases modern contemporary design with neutral finishes, quartz countertops, 42'' cabinets, and a lg kitchen island. Refrigerator, washer, and dryer are included. The Primary Bedroom offers breathtaking views & includes an updated walk-in shower in the Primary Bathroom. This condo is Energy Star certified, equipped with Energy Star appliances, Low-E windows, & impressive energy efficiency rating from 2018. Spectacular views from the 14' sliding door that opens to large balcon

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32120 N 167th Avenue Surprise, AZ 85387

$645,000

4 Beds

2.5 Baths

2,433 SqFt

Status Active

MLS # 6754547

Property Type Single Family Residence

Price Type --

**TRANQUILITY IN THE DESERT** This home boasts 4 bedrooms, 2.5 baths and a split floorplan. A roomy master suite with a luxurious bathroom attached. Large walk-in shower with separate soaking bathtub. Features a spacious walk-in closet with walkout access to the back patio. The three additional bedrooms are generously sized, all with large walk-in closets. You will find an abundance of storage, with sizable linen and hall closets, a large laundry room, and a walk-in pantry. The kitchen, with its granite countertops, is perfect for entertaining, complete with a breakfast bar. A 2.5 car garage provides enough space for your vehicles. Big lot has plenty of room for storage of your toys or RV. Blank canvas out back is ready for your design! Enjoy HOA-free living with beautiful desert views!

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318 N Washington Street Chandler, AZ 85225

$645,000

4 Beds

2 Baths

1,675 SqFt

Status Active

MLS # 6759421

Property Type Single Family Residence

Price Type --

Walking Distance to Thriving Downtown Chandler In Silk Stocking Historic Neighborhood, Many opportunities for this Updated Duplex on a 7,449 Sqft Lot Across AZ Ave from Historic Chandler High School and Chandler Center of the Arts. Currently One Unit is MTM at $1950. The other is Ready For either Long Term Market Rents, Owner/User With Income. Both Units are 2 Bed 1 Bath/Tubs with Laundry, The back Unit has An Extra 450 sf Room with Its Own Outside Entry Door That Can Be Used for a Third Bedroom, Office Or Workshop with Air. Laminated Flooring in all living and Bedrooms with Tile in Kitchens and Baths. Security on All Doors and Keyless entry pads on Front Doors. All Facts and Figures are Approximate, Buyer to Verify to their own Satisfaction

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2124 E Osborn Road Phoenix, AZ 85016

$645,000

3 Beds

2 Baths

2,084 SqFt

Status Active

MLS # 6761427

Property Type Single Family Residence

Price Type --

Fantastic opportunity in the sought-after Loma Linda neighborhood! This 3-bed, 2-bath, 2,084 sq ft home offers a refreshing pool with a tranquil waterfall, perfect for relaxation or entertaining. A 2005 addition expanded the living space with a generous family room, an extra room with a private entrance ideal as a 4th bedroom or office, and an enlarged primary suite featuring a walk-in shower. The kitchen and bathrooms were beautifully remodeled in 2019 including cabinets with soft close doors & pull-out shelves. new windows installed in 2012, pool updated in 2023. North-south exposure, RV gate access, and no HOA make this a rare find! Don't miss out!

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9060 E Captain Dreyfus Avenue Scottsdale, AZ 85260

$645,000

3 Beds

2 Baths

1,440 SqFt

Status Active

MLS # 6761855

Property Type Single Family Residence

Price Type --

Welcome to this beautifully updated 3-bedroom, 2-bathroom home, complete with a 2-car garage featuring a new garage door installed just a year ago. As you step inside, you'll be greeted by soaring vaulted ceilings and a spacious great room, highlighted by a cozy wood-burning fireplace with an elegant stone mantel that extends to the ceiling. The new vinyl flooring adds a modern touch throughout. The updated kitchen boasts Quartz countertops, brand-new stainless steel appliances, recessed lighting, and self-closing drawers for added convenience. The primary suite offers a serene retreat with high ceilings, a sliding door to the backyard, and an ensuite bathroom featuring a dual-sink vanity, a tiled shower, and a walk-in closet. Bedrooms 2 and 3 feature ceiling fans, new vinyl flooring, and closet space. The second bathroom has been tastefully updated with a tiled shower, new vanity, and toilet. Outside, the backyard offers a covered patio, a grass area, and a second patio with an above-ground jacuzzi just off the primary suite. Additional highlights include a 5-year-old roof and a backyard drip system. Don't miss out on this stunning, move-in-ready home! This home has a fantastic North Scottsdale location! You'll enjoy a vibrant mix of outdoor recreation and upscale amenities. Just minutes away, explore hiking and biking trails in the McDowell Mountain Preserve or golf at renowned courses like TPC Scottsdale. The area also offers top-notch shopping at Kierland Commons and Scottsdale Quarter, as well as dining at a variety of high-end restaurants. With easy access to cultural hotspots like Old Town Scottsdale and the Taliesin West architecture tour, there's always something to experience nearby.

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