#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

7598 W Smoketree Drive Peoria, AZ 85383

$644,990

4 Beds

3 Baths

2,331 SqFt

Status Active

MLS # 6762184

Property Type Single Family Residence

Price Type --

''Discover this stunning two-story home, offering 2,331 sqft of well-designed living space. Featuring 4 spacious bedrooms, 3.5 baths, a versatile loft, and a den, this residence provides the perfect blend of comfort and functionality for modern living. The 3-car tandem garage offers ample space for vehicles and storage. Inside, the home showcases the Harmony Palette, a design aesthetic that brings together warm, rich flooring and light, refreshing countertops for a balanced, relaxing atmosphere. The kitchen features polished quartz countertops and matte iron finishes, combining elegance with contemporary style. From its inviting layout to its refined finishes, this home is a perfect retreat for comfort and sophistication.''

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22675 E Happy Road Queen Creek, AZ 85142

$644,948

4 Beds

3 Baths

2,546 SqFt

Status Active

MLS # 6761632

Property Type Single Family Residence

Price Type --

Brand new home, under construction in Queen Creek. Move in anticipated for approximately Jan/Feb. Ranch exterior style. 4 bedroom, 3 bathroom, and 3 car side-by-side garage. Gourmet appliances include stainless gas cooktop, oven, microwave, and dishwasher. Upgraded 42'' white cabinets are complemented by white quartz designer countertops and a stunning tiled backsplash. Wood-look tile throughout the home and plush carpet in the bedrooms. Home warranty included! Enjoy an amenity-rich lifestyle with community fitness center, sparkling pool and jacuzzi, pickleball courts, basketball, shaded play structures, play lawns, 2 dog parks, and more. PREMIUM HOMESITE, this home has no neighbor directly behind and backs to a greenbelt. Please ask about our special financing incentives!

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28228 N 213th Drive Wittmann, AZ 85361

$644,900

4 Beds

2.5 Baths

2,142 SqFt

Status Active

MLS # 6754209

Property Type Single Family Residence

Price Type --

GATED ENCLAVE. This home is the first home on the west side. Situated on a dead end,1.12 acre canvas of potential, this brand new home is a blank canvas waiting for your personal touches. With 2,142 square feet of living space, it is the perfect blend of comfort and sophistication. Need space for your toys? This home boasts an attached 55X13.6 foot RV garage, so your RV, LQ or toys will easily fit here. Upon entering, you will encounter high-end touches such as elegant quartz countertops, crown molding, 5'' baseboards, sleek tile wood-like floors, and modern fixtures throughout. Entertain in the open-concept living space where the gourmet kitchen is the heart of the home. Equipped with stainless steel appliances, ample counterspace, a separate walk in pantry, and a ton of storage space culinary delights are just waiting to be created. Your primary bedroom is split with an ample bathroom that includes dual sinks with quart countertops, a curbless shower and separate soaking tub, and large walk-in closet. Outside, let your imagination run wild. Whether you are dreaming of creating an oasis with a sparkling pool, shade trees and gardens or a mare motel and loping arena, it's right here waiting for you. For the energy conscious Buyer, the ceiling has foam insulation equivalent to R16 and it keeps the bugs and dust out. Concerned about the leach field location? This septic system has a vertical leach field so you don't have to worry about where the lines are when you are installing your dream pool or mare motel. And, this is synthetic stucco so you never need to paint it. There is a complete list of features under the document tab in the MLS that is available to the public. Hurry and make this home your own.

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14383 W Coronado Road Goodyear, AZ 85395

$644,900

4 Beds

2.5 Baths

3,020 SqFt

Status Active

MLS # 6773453

Property Type Single Family Residence

Price Type --

Beautiful home in the EXCLUSIVE CORTILE GATED community in Palm Valley. 9/24 HVAC. 10/24 3 color Exterior Paint/Walls. Rock Veneer. 3 Car Garage w/ Charging Station. Paver Driveway & Walkway. Tall Ceilings in this Semi-Open layout w/ Separate Living, Dining & Family Rooms off kitchen. Gourmet Kitchen has SS Appliances, Quartz Countertops, Large Pantry, Staggered Cabinets, Mosaic Tile Backsplash & Large Island w/ Sink. Den/ Office/Playroom/Workout room! Spacious main bedroom boasts an ensuite w/ 2 vanities, soaking tub, & large walk in closet. Perfect SO backyard w/ nice patios & Playset. Winter Rye Seeded. Beautiful Recreation Center w/ Swimming Pool/Spa, Golf Course, Pickleball, Tennis & Children's Play Area. Close to I-10, 303, Great Restaurants, Shopping, Theaters and Hiking.

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3820 W Mcneil Street Laveen, AZ 85339

$644,900

4 Beds

3 Baths

2,646 SqFt

Status Active

MLS # 6763947

Property Type Single Family Residence

Price Type --

2 homes in one! Better than new NEXT GEN home built in 2023 looks like a model...the sold out Trillium floor plan IS AVAILABLE NOW WITH A PREMIUM CORNER LOT. With thoughtful details and luxurious upgrades throughout, this home invites you to experience Arizona living at its finest. The heart of the home is an open, airy living space that flows seamlessly into the gourmet kitchen complete with a walk-in pantry, gas range, large center island. The Lennar Platinum Package brings a touch of sophistication, featuring granite countertops, Sonoma Maple Linen (white) cabinets that brighten the space, and wood-like plank tile flooring that adds a warm, natural charm. The 10' ceilings provide an extra sense of openness, making the entire home feel... spacious and light-filled. The attached apartment offers complete independence with its own full kitchen, cozy living room, full bedroom, bathroom, and a private entrance to it's own single car garage and outdoor space - INCOME POTENTIAL! Whether it's for multi-generational living, a guest suite, professional office or even rental income, this space allows you to personalize it to fit your lifestyle. And when you're ready for some privacy, the owner's suite, tucked away in the back of the home, provides the perfect retreat. The upgrades are seemingly endlessSchlage Encode smart entry locks, a Ring Doorbell Pro, and a fully integrated alarm system with sensors that offer peace of mind. Step outside and you'll find an ultra-private, professionally landscaped backyard that feels like your own personal oasis. Enjoy beautiful mountain views while you relax or entertain in your serene outdoor space. Located in the thriving and growing community of Laveen, this home is not only beautiful but also perfectly situated with convenient access to 202. This home offers so much more than just four wallsit's a lifestyle, a retreat, and a place to create lasting memories. Don't miss this opportunity!!

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7233 W Corrine Drive Peoria, AZ 85381

$644,900

4 Beds

3 Baths

1,982 SqFt

Status Active

MLS # 6510891

Property Type Single Family Residence

Price Type --

This fully renovated 4 bedm, 3 bath Luxury Home, is currently a very successful AIR.B.n.B. Walking distance to shops and restaurants. 7 miles to PHX Cardinal football Stadium / Westgate District. This Home features - Solar Heated Play Pool with connected Spa - 2 Stall Garage - Walk-in Closet - Indoor Fireplace - new front/back landscape (pavers/tuff) - Vaulted ceilings - New water heater - Freshly painted inside.

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3017 W Sahuaro Drive Phoenix, AZ 85029

$644,900

5 Beds

2 Baths

2,143 SqFt

Status Active

MLS # 6510059

Property Type Single Family Residence

Price Type --

Currently a very successful Air BnB! Fully renovated 5 BEDRM & 2 BATH Luxury Home is located in the center of Phoenix. Walking distance to shops and restaurants. 15 miles to PHX Cardinal football Stadium and Suns basketball arena. This Home features - Diving Solar Heated Pool - 2 Stall Garage with brand new door and myQ Opener - Walk-in Closet - Indoor Fireplace and outdoor firepit - new front/back landscape (pavers/tuff) - Vaulted ceilings - new heater - Freshly painted inside/outside.

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34946 N Jacobs Road San Tan Valley, AZ 85144

$644,900

3 Beds

2.5 Baths

2,692 SqFt

Status Active

MLS # 6716316

Property Type Single Family Residence

Price Type --

This Fulton-built gem features OWNED SOLAR, ensuring low energy bills, along with a spacious 3 bed, 2.5 bath (plus den) layout and a 4 car fully insulated garage. Imagine strolling to the private resort-style pool or enjoying a game of pickleball, just steps away! But that's not all - picture yourself unwinding in your backyard oasis, complete with stunning views of the San Tan Mountains and privacy with no rear neighbors. Inside, the upgraded gourmet kitchen is a chef's dream, equipped with upgraded appliances and a built-in sound system for the perfect ambiance. With a walk-in pantry for all your storage needs, this home checks all the boxes for modern living. Garage is equipped with 240V outlet. Simply Safe system transfers with home.

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28312 N 213th Drive Wittmann, AZ 85361

$644,900

4 Beds

2.5 Baths

2,142 SqFt

Status Active

MLS # 6721829

Property Type Single Family Residence

Price Type --

GATED ENCLAVE. This home is 2 houses north. Situated on a dead end,1.12 acre canvas of potential, this brand new home is a blank canvas waiting for your personal touches. With 2,142 square feet of living space, it is the perfect blend of comfort and sophistication. Need space for your toys? This home boasts an attached 55X13.6 foot RV garage, so your RV, LQ or toys will easily fit here. Upon entering, you will encounter high-end touches such as elegant quartz countertops, crown molding, 5'' baseboards, sleek tile wood-like floors, and modern fixtures throughout. Entertain in the open-concept living space where the gourmet kitchen is the heart of the home. Equipped with stainless steel appliances, ample counterspace, a separate walk in pantry, and a ton of storage space, culinary delights are just waiting to be created. Your primary bedroom is split with an ample bathroom that includes dual sinks with quart countertops, a curbless shower and separate soaking tub, and large walk-in closet. Outside, let your imagination run wild. Whether you are dreaming of creating an oasis with a sparkling pool, shade trees and gardens or a mare motel and loping arena, it's right here waiting for you. For the energy conscious Buyer, the ceiling has foam insulation equivalent to R16 and it keeps the bugs and dust out. Concerned about the leach field location? This septic system has a vertical leach field so you don't have to worry about where the lines are when you are installing your dream pool or mare motel. And, this is synthetic stucco so you never need to paint it. There is a complete list of features under the document tab in the MLS that is available to the public. Hurry and make this home your own.

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3817 E Irma Lane Phoenix, AZ 85050

$644,900

4 Beds

2 Baths

1,782 SqFt

Status Active

MLS # 6743565

Property Type Single Family Residence

Price Type --

Explore your dream home in Wildcat Ridge with this 4-bedroom gem that backs onto an open, unobstructed area. This property features vaulted ceilings, wood and tile floors, and plantation shutters. The spacious living room and bright great room offer perfect spaces for relaxation and entertainment. The kitchen is a chef's delight with white cabinetry, built-in appliances, a pantry, sleek granite counters, and a center island with a breakfast bar. The main suite provides a serene retreat with a private bathroom boasting dual sinks, a soothing tub, and a walk-in closet. Added convenience comes from a laundry room with extra storage. Outdoors, enjoy a covered patio, paver patio, and ample space for gatherings. It won't disappoint! Experience this captivating abode yourself! Easy access to Desert Ridge Marketplace, High Street, Marriott, Golf, American Express, Mayo Hospital and ASU medical campus. Then jump on the 101 for easy access to Scottsdale, Spring training, airport and more.

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10590 N Thunder Hill Place Tucson, AZ 85737

$644,900

5 Beds

3.5 Baths

2,954 SqFt

Status Active

MLS # 6765095

Property Type Single Family Residence

Price Type --

Nestled in a quiet cul-de-sac with stunning mountain views, this 4-bedroom, 4-bathroom Tucson home offers luxury living at its finest. The home boasts 2,954 square feet of meticulously maintained space, featuring a custom office 5th room) perfect for working from home. The gourmet kitchen includes custom cabinetry, adding elegance and functionality. The spacious 3-car garage comes equipped with epoxy flooring and built-in California Closets for ample storage. Enjoy the serenity of the outdoor area, ideal for entertaining or simply relaxing in the beauty of the surrounding desert landscape.

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4823 E Presidio Road Scottsdale, AZ 85254

$644,900

3 Beds

2 Baths

1,750 SqFt

Status Active

MLS # 6737405

Property Type Single Family Residence

Price Type --

New Photos Coming, Beautiful updated home in desirable 85254. No HOA. Single level, 3BR/2BA/2CG. Formal LR/DR and family room with fireplace are great for entertaining. Updated Quartz countertops throughout. Large backyard, with new turf and putting green with plenty of room for a pool. Please inquire with any questions.

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