#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.

#1 Answer to the Housing Shortage: New Construction | Simplifying The Market

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.

What’s Your Home Worth?

Search for Your New Home

21048 E Arroyo Verde Drive Queen Creek, AZ 85142

$642,031
4 Beds
3 Baths
2,198 SqFt
Status Active
MLS # 6766872
Property Type Single Family Residence
Price Type --
Don't Miss Out on this CLOSE OUT & FINAL OPPORTUNITY for this beautiful inventory home located in desirable Hastings Farms. Plus Builder/Lender Financing Incentive Available when financing with builder's preferred lender(s) of up to $25K towards closing costs or interest rate buydown. Located close to Queen Creek Marketplace Shopping, Dining & Entertainment, this Community has Parks, Soccer Field, Basketball Courts, & 8-Mile Walking Trail. This Beautiful Cul-De-Sac home backs to 8-Mile Walking Trail with no homes behind! Beautiful upgrades include Smoke cabinets, Gourmet Stainless Gas Cooktop, Double Wall Ovens w/Microwave, Quartz Kitchen Countertop, Tiled Kitchen Backsplash, Plank Tile Flooring, & Window Blinds. Final Chance to Own Backing to the Trail! Don't Wait, See This Home Today.

549 W Sweet Shrub Avenue Queen Creek, AZ 85140

$642,000 - 5Br/3Ba -  for Sale in Ironwood Crossing - Unit 1, Queen Creek
Open House
$642,000
5 Beds
3 Baths
3,317 SqFt
Status Active
MLS # 6741014
Property Type Single Family Residence
Price Type --
This large, beautiful 5 bedroom, 3 bathroom Fulton home located in Ironwood Crossing features an extended 306 square foot balcony with private master access and mountain views, view fencing to the greenbelt, no neighbors behind, a SUPER-SIZED 4.5 car garage, SOLAR PANELS that will be PAID IN FULL by sellers at closing, artificial turf, LIME & RUBY GRAPEFRUIT trees, above ground pool (sellers will remove if buyers so desire)! Interior has new carpet and paint, wood tile flooring, Havana tile stairs with iron scroll railing, 2'' faux wood blinds, dual pane low-e windows, paneled doors and closets, ceilings fans and lots of storage space throughout! Surround sound speakers installed in family room.Spacious gourmet kitchen has a large island, granite counter tops, extended maple cabinets with 3 crown molding, recessed lighting, under mount stainless steel sink, and stainless steel appliances, and new convection stove top. There is a GAS STUB at the cook top! Master bedroom has views of the lush greenbelt overlooking the backyard, private sliding door to the balcony, a HUGE closet AND bathroom with an extra long counter, double sinks, and a Graniterra garden tub/separate shower. The spacious loft is central to the upper level living area and is a flex space for office, entertainment, whatever suits you! The 5th bedroom is located downstairs and has access to the all bathroom just one door down. Brand new water heater! Solar is owned and will be paid in full at closing. Soft water loop already installed. 210 breaker box professionally installed just for pool! Gas available at cooktop, dryer, and BBQ! Home is turnkey ready with all appliances conveying, including washer/dryer/fridge! Platinum Plan warranty will be provided by sellers through Select Home Warranty. Sellers can paint accent walls and kitchen to match rest of house if buyers desire. They will work with you! The aquatics center with a heated community pool and splash pad is nearby, as is Legacy Traditional Charter School. One of many playgrounds is just a few houses down the street. There are walking paths, parks with ramada covered picnic areas and gas grill throughout the community, basketball courts, and a soccer field!

1278 W Golden Ore Pass Apache Junction, AZ 85120

$641,909
5 Beds
3 Baths
3,234 SqFt
Status Active
MLS # 6740201
Property Type Single Family Residence
Price Type --
Discover the exceptional difference in your home-buying experience! Welcome to Mariposa at Blossom Rock, where our 2-story Canyon design is under construction now. Imagine an open-concept floor plan featuring a warm and welcoming kitchen that flows into a bright, airy great room. This space opens up to your private, covered outdoor room - perfect for relaxing or entertaining. Convenience of the 3-car garage and a nice 8000 SQ FT Homesite. With 5 spacious bedrooms, 3 baths, a great room with a dining area, and a flexible office space, this home has everything! Plus, we're including $58,000 in stunning upgrades to make this home truly special, and we're offering special financing to help. Home completion is estimated in October 2024.

24173 N 160th Avenue Surprise, AZ 85387

$640,484
5 Beds
4.5 Baths
3,444 SqFt
Status Active
MLS # 6765432
Property Type Single Family Residence
Price Type --
MOVE IN READY, BRIGHT GREAT ROOM PLAN , QUICK CLOSE!! 5 BEDROOM PLUS LOFT, 4.5 BATH , 3 CAR GARAGE 9'CEILINGS, GOURMET KITCHEN LAYOUT, UPGRADE CABINETS , QUARTEZ KITCHEN TOPS, SPA SHOWER IN MASTER BATH, LUXURY VINYL FLOORING. 2'WHITE BLINDS, CEILING FANS, FRONT YARD LANSCAPING COMPLETED, ENERGY STAR QUALIFIED HOME, INDOOR AIR PLUS. A SHORT DISTANCE FROM THE COMMUNITY POOL AREA, PICNIC AREA, TOT LOTS, BASKETBALL, PICKLE BALL COURTSAND SO MUCH MORE

17126 W Hackamore Drive Surprise, AZ 85387

$640,244
4 Beds
3 Baths
2,665 SqFt
Status Active
MLS # 6776842
Property Type Single Family Residence
Price Type --
MLS#6776842 March Completion! Welcome to the Everglade at Asante Passage! Enter through the porch into a warm and inviting foyer. To one side, you'll find two bedrooms sharing a bathroom, while across the way lies a laundry room, an additional bedroom with its own bathroom, and access to the two-car garage. Move deeper into the home to uncover gorgeous open-concept living, where the great room seamlessly connects to a casual dining area, a kitchen with an island, and a covered outdoor space—perfect for entertaining. The private primary suite offers a serene retreat, complete with a spa-inspired bathroom and a spacious walk-in closet. Structural options include: paver front porch, 12'x8' sliding glass door, garage service door & study in lieu of bed 2.

895 S Accuracy Way Tonto Basin, AZ 85553

$640,000
2 Beds
2 Baths
3,000 SqFt
Status Active
MLS # 6769352
Property Type Single Family Residence
Price Type --
This stunning custom home is a dream come true. The kitchen features two walk-in pantries and a modern-style island with bar stools. The master bedroom has a large walk-in closet, and there's a very spacious laundry room with extra storage cabinets. You'll love the cozy fireplace. The property also includes a 4-plus car garage with a built-in bar and AC. Additionally, the entire property is completely fenced and offers amazing mountain views!

Glendale AZ 85305

$640,000
4 Beds
3 Baths
2,700 SqFt
Status Active
MLS # 6725528
Property Type Single Family Residence
Price Type --
Up to 3% of total purchase price towards closing costs incentive offer. Brand New Move In Ready Home on prem. lot in highly sought-after Stonehaven Community* This Adelaide floorplan is stunning 4 bed/3 bath/3 car garage single-story gem!! Home has open floor plan. Gourmet Chef's kitchen featuring upgraded 42'' cabinets, large kitchen island, quartz countertops, WI pantry, SS appliances. Owner's retreat is spacious w/dual sinks, walk in shower & large walk-in closet. Other bedrooms are spacious. Tile in all the high traffic areas. Private CASITA w/ ensuite bathroom & sitting room. Low maintenance ft & bkyard. Community features community pool, walking/biking paths, parks, playgrounds, etc. Great Location: minutes to Westgate Entertainment Center, Cardinals Stadium, & restaurants, etc.

9802 S 46th Street Phoenix, AZ 85044

$640,000
4 Beds
3.5 Baths
2,417 SqFt
Status Active
MLS # 6759316
Property Type Single Family Residence
Price Type --
Welcome to your dream home! This stunning 4-bedroom, 3.5-bathroom property offers luxury living in a serene Ahwatukee neighborhood with no HOA. The spacious design features high ceilings and large windows, flooding the home with natural light and offering breathtaking views of the heated pool, spa, and mountains beyond. The master suite is a private retreat, complete with an en-suite bathroom and a walk-in closet. The functional kitchen is equipped with reliable appliances, ample storage, and a convenient layout perfect for daily cooking or entertaining. One of the home's standout features is the windows that provide a seamless connection between indoor and outdoor living. Step outside to enjoy the large heated pool and spa, perfect for year-round relaxation and entertainment. Above, the second-story deck spans the entire length of the home, offering panoramic views of the pool, spa, and surrounding mountainsideal for enjoying your morning coffee or watching the sunset, with the high block wall providing extra privacy. Located minutes from major freeways, scenic hiking trails, golf courses, and top-tier restaurants, this home offers the best of both convenience and tranquility. Don't miss the chance to make this stunning property yours!

2276 W Periwinkle Way Chandler, AZ 85248

$640,000 - 4Br/2Ba -  for Sale in Ocotillo Parcels 18 & 19, Chandler
New
$640,000
4 Beds
2 Baths
1,961 SqFt
Status Active
MLS # 6777924
Property Type Single Family Residence
Price Type --
Single level home in Ocotillo near the Ocotillo golf course. Home was remodeled in 2020 with beautiful flooring, light fixtures, & baths. Corner lot with 3 car garage which includes wiring for EV charging. Inside you'll find beautiful wood like floowing throughout the home, bright and open formal dining & living space that continues into the family room / kitchen area. Beautiul granite counters, white cabinetry, stainless steel appliances, pendant lights, and an island. The family room has a fireplace. Large sliding glass door opens to a covered patio, pool and backyard space. Primary bedroom faces the backyard and the primary bath, has a separate tub, beautilful shower with separate toilet area. One of the secondary bedrooms could double as an office w/french doors, Solar panels

134 W Crimson Sky Court Casa Grande, AZ 85122

$640,000
3 Beds
2 Baths
2,132 SqFt
Status Active
MLS # 6743294
Property Type Single Family Residence
Price Type --
Exquisite, updated Coyote Ranch home on .38 acre with side entry 3 car garage, sparkling pool, plus Casita with bathroom and heat/cooling. Expansive chef's kitchen with upscale appliances. Great room with a gas fireplace. Split primary suite for owner privacy. Drive thru gate with RV storage slab with full hookups. Outdoor kitchen, fire-pit, citrus trees. An easement along the north lot line ensures no structures behind. Beautifully decorated and maintained.

26562 W Vista North Drive Buckeye, AZ 85396

$640,000
3 Beds
2.5 Baths
2,519 SqFt
Status Active
MLS # 6755733
Property Type Single Family Residence
Price Type --
Enjoy all the amazing features this popular Journey model has to offer AND all the wonderful amenities of the 55+ Sun City Festival community. This home features a heated, lap-style pool, owned solar, 3 bedrooms, 2.5 baths and a private den with a safe, built-in cabinets and shelving. The backyard pool area is very private with no neighbors behind the home. The kitchen area includes bow windows, SS appliances, gas cooktop, refrigerator, upgraded cabinets with roll-out trays, granite counter tops, a butler pantry and separate workspace. The owner's suite features a shower and jetted tub with split vanities and a custom walk-in closet. Bedrooms include plantation shutters. The laundry includes the washer & dryer and sink with built-in cabinets. The garage also includes built-in cabinets.

2528 W Morse Drive Anthem, AZ 85086

$640,000
4 Beds
2.5 Baths
2,575 SqFt
Status Active
MLS # 6759051
Property Type Single Family Residence
Price Type --
Nestled in a serene neighborhood, this meticulously maintained home is a testament to elegance and comfort. As you step inside, you'll be greeted by the grandeur of crown molding, which lines the ceilings throughout the home. The heart of the home is in the kitchen, boasting updated white cabinetry, stainless steel appliances and a new, large, single bowl sink. The new backsplash adds a touch of contemporary flair, making it a chef's dream. Owner is a licensed Realtor in Arizona and Florida.

Leave a Reply

Your email address will not be published.