#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

29398 N 130th Glen Peoria, AZ 85383

$640,000

3 Beds

2 Baths

1,635 SqFt

Status Active

MLS # 6771632

Property Type Single Family Residence

Price Type --

Welcome home to this beautiful Flora model that is nestled in the highly sought after community of Trilogy at Vistancia. You will immediately notice upon entering the home the paver oversized front courtyard to enjoy a morning coffee or simply entertain guests. You will love the chefs kitchen with maple cabinets, newer granite counter tops, a convenient center island and well thought out kitchen design. A Flex room that can be used as 3rd bedroom or den/study. Relax and enjoy entertaining all your guests with the privacy of this resort like backyard recently updated in 2018. This home boasts a new tiled floor 2020, recently replaced HVAC 2019, post tension slab, central vac, blown in insulation, 4 foot extension to the garage.

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24118 S Stoney Lake Drive Sun Lakes, AZ 85248

$640,000

2 Beds

2 Baths

1,997 SqFt

Status Active

MLS # 6766696

Property Type Single Family Residence

Price Type --

Arizona living at its best, in the gated adult community of Oakwood! Charming Milano model featuring a 2 bedroom, 2 bath split floor plan, den, great room w/ vaulted ceilings & gas fireplace, wooden shutters, wooden blinds, tile floors and ceiling fans throughout. Interior freshly painted. Beautiful pebble finished pool w/ water feature, huge covered back patio, private courtyard entry, mature landscaping, perfect for entertaining. 2 car extended garage & separate golf cart garage located on a premium nearly 10,000 sq. ft. corner cut de sac lot. Community amenities include golf, tennis, pickleball, pools/spas, fitness center, billiards, clubs, social activities & restaurants.

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2619 S Shannon Drive Tempe, AZ 85282

$640,000

4 Beds

2 Baths

2,155 SqFt

Status Active Under Contract

MLS # 6772715

Property Type Single Family Residence

Price Type --

Recently Renovated Charmer! Great chance to be in central Tempe location with all the work done for you! This is one sexy house with all the new finishes! All new bathrooms! Kitchen opened up and makes it feel so much bigger! Tile everywhere but bedrooms which have new carpet! Nice sized secondary bedrooms too! Roof approx 5 yrs, 2 newer water heaters, pool has newer pebble finish, new patio roof, the list is endless! AMAZING location with one of the largest lots in the subdivision! Don't miss out on the ''back'' backyard! Easy walk to elementary and middle school! Easy freeway access, great shopping and restaurants close by! NO HOA! Turn it into a short term rental? Would even be great as an ASU rental!

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3676 Gold Rush Court Wickenburg, AZ 85390

$640,000

2 Beds

2 Baths

1,959 SqFt

Status Active

MLS # 6737439

Property Type Single Family Residence

Price Type --

Welcome to 3676 Gold Rush Court! Located in a private corner of Wickenburg Ranch, this serene oasis features a stunning backyard with a calming water feature, mature plants and trees, a large stone rectangular fire pit, and dual glass walls in the great room and dining area. Remote-controlled shades with wind sensors and outdoor speakers enhance the ambiance, offering an exceptional outdoor living experience. This highly upgraded Nice floor plan boasts over $125,000 in original enhancements, with many additional improvements. These include new carpet in the bedrooms, ceiling fans throughout, new stainless steel appliances, a glass shower door in the guest bathroom, extended patio pavers, a raised garden area, and a block wall with wrought iron fencing. The gourmet kitchen is equipped with a wall oven and microwave, gas range, pullout shelves, a recycle center, granite countertops, and pendant lights. The extra-large laundry/smart space features a built-in sink, cabinets, and a desk. All window coverings operate both top-down and bottom-up for optimal comfort and lighting. The garage is complete with an epoxy floor, built-in cabinets, a brand-new garage door, outdoor lights, and a water softener. This home offers a perfect blend of comfort, style, and convenience in one of Wickenburg's most desirable neighborhoods, where every detail is designed to enhance your living experience.

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4234 E Narrowleaf Drive Gilbert, AZ 85298

$640,000

2 Beds

2 Baths

2,156 SqFt

Status Active

MLS # 6771907

Property Type Single Family Residence

Price Type --

Gorgeous home in the coveted community of Trilogy at Power Ranch! Enjoy state of the art community amenities like rec centers, pools, sports courts, fitness equipment & golf. On a prime lot next to a walking/biking path, this home offers freshly painted interior, well maintained tile flooring, custom shutters, & an office/den. The chef's kitchen boasts granite counters, electric cooktop, Stainless Steel appliances, RO system, & opens to the family room. Large primary retreat with a separate exit & a newly remodeled primary bathroom. Savor your morning coffee on the covered patio, surrounded by vibrant desert landscaping. Also featured, a 2- car garage with cabinetry, a water softener, & SOLAR PANELS. Awesome Gilbert location just minutes to highways, shopping, dining, & more!

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3137 W Baseline Road Laveen, AZ 85339

$640,000

4 Beds

2.5 Baths

2,480 SqFt

Status Active

MLS # 6533532

Property Type Single Family Residence

Price Type --

Welcome to this stunning and breathtaking 4-bedroom, 2.5 bathroom home that will take your breath away! This magnificent residence is the epitome of family living and offers a warm and inviting atmosphere that will make you feel right at home. As you step inside, the grandeur of this home will envelop you with a sense of awe and wonder. The spacious living room exudes an ambiance of calmness and serenity, making it the perfect place to relax and unwind after a long day. The open floor plan creates a seamless flow into the dining area and kitchen, providing a natural gathering spot for family and friends. The mother-in-law suite is a wonderful addition to this home, providing a comfortable living space for extended family or guests. Step outside to the backyard oasis that will transport you to a world of calm and relaxation. Enjoy your gatherings and afternoons in this spacious backyard w/storage shed, paved patio, a tree house, & so much more to make it your own. You also can have animal on this property like horse, chicken, sheep, etc! Don't miss this opportunity! This home also boasts a laundry room, a 2-car garage, and easy access to near by parks, shopping, and dining. Come and see for yourself why this home is the perfect place to create everlasting memories with your loved ones. Schedule your showing today and let the magic of this home take your breath away!

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8519 E Sandalwood Drive Scottsdale, AZ 85250

$640,000

4 Beds

2 Baths

1,620 SqFt

Status Active

MLS # 6739772

Property Type Single Family Residence

Price Type --

Welcome to your first home in PRIME South Scottsdale! Ideally located just 2.5 miles from Scottsdale Fashion Square, Pavilions shopping, and Talking Stick Casino, this home also offers easy access to the 101 freeway for added convenience. You'll be in the sought-after Scottsdale School District, making it perfect for families or first-time buyers. Whether you're beginning your homeownership journey or growing your family, Sandalwood Dr is the perfect place to create lasting memories. Don't miss your chance—say yes to this address and make it yours today!

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4254 S Winter Lane Gilbert, AZ 85297

$640,000

4 Beds

3 Baths

2,869 SqFt

Status Active

MLS # 6757979

Property Type Single Family Residence

Price Type --

Premium Location and corner lot right across from the park. No neighbors on 3 sides of the home. 4 bedrooms and 3 full bathrooms. There is a large bonus room with real wood flooring. Kitchen has 42 inch Cherry cabinets, kitchen island, and stainless steel appliances. Master bedroom is upstairs with a huge walk in closet, dual sinks, separate tub and shower. Two secondary bedrooms upstairs and one bedroom downstairs with a full bathroom. Epoxy flooring in the garage Beautiful backyard sitting area with view fence over looking the grassy area in the back

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13672 W Jesse Red Drive Peoria, AZ 85383

$640,000

3 Beds

2.5 Baths

2,603 SqFt

Status Active

MLS # 6680532

Property Type Single Family Residence

Price Type --

Welcome to the Desert Paradise known as Vistancia. Nestled adjacent to the mountains you will enjoy an unobstructed view of the mountainous open desert from your entertainer's delight of a backyard. The outdoor entertainment area features mature tropical landscaping, ample ground and decorative lighting, a large rectangular swimming pool including swim up bar stools, shallow sunning deck and lighting. The large pergola covers a fire pit table, large screen television and a chef's delight of an outdoor kitchen. Accent lighting refines the space while enhancing the ambiance. This home is accented with mountain views from the master bedroom, spacious open floor plan, and an exceptionally large garage offering an abundance of closets and storage. The kitchen has been remodeled with New Kitchen Aid appliances. This beautiful home has far too many extraordinary features and benefits to list. It is a Must See on your home shopping tour. The Vistancia lifestyle offers premium, top rated schools, a Home Owner's Association that provides concerts, clubs, poker tournaments, indoor basketball court and family based activities for nearly every holiday. Call for your private tour of this exceptional property in an absolutely wonderful community.

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21386 E Kingbird Drive Queen Creek, AZ 85142

$640,000

5 Beds

3 Baths

2,654 SqFt

Status Active

MLS # 6699836

Property Type Single Family Residence

Price Type --

Looking for a new build but do not want to wait?? Nestled in the serene surroundings of Queen Creek, this property is a blend of modern luxury and comfort, set against the backdrop of spectacular mountain views. With no one behind to obstruct your view this home is a rare find. This exquisite home boasts five spacious bedrooms, and three bathrooms, with a generous interior space of 2648 sq. ft. The moment you step inside you will be greeted with an open floor plan blending living, dining and kitchen areas perfect for entertaining and family gatherings. The kitchen is a chefs dream featuring sleek grey shaker cabinets, Antique Bianco granite countertops, state of the art appliances, including Samsung Bespoke smart fridge. Lighting is upgraded with Pottery Barn fixtures. See more.. Premier primary bathroom with custom tile surround. This smart home comes equipped with the technology offering convivence at your fingertips. Exterior is just as amazing with real grass, sprinkler system, and inviting pavers in the back yard. This home has a full bedroom and bathroom downstairs as well. Community has a heated pool and park with playground right across the street. Home comes with upgraded Samsung Duo washer and dryer as well as a full clothes steamer in the laundry room.

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6346 N 14th Street Phoenix, AZ 85014

$640,000

2 Beds

3 Baths

2,283 SqFt

Status Active

MLS # 6703109

Property Type Townhouse

Price Type --

Welcome to your dream home! This stunning Uptown house with 2 bedrooms, 3 full bathrooms, and office space, and separate den offering ample space for comfortable living. With spacious bedrooms, walk in closet, an open-concept kitchen, separate laundry room, and a private pool, luxury meets functionality here. This house is situated in gated area with a private street. Located in the greatly desired Madison School District only minutes away from Biltmore, PHX airport, downtown Phoenix, and Scottsdale. Enjoy the convenience of a 2-car garage. HOA covers: COX cable with all the movie channels ($130 value), landscaping and maintenance in common areas, as well as landscaping of grass along the front of the house. Don't miss out on the opportunity to make this your new home.

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1596 High Country Drive Heber, AZ 85928

$640,000

3 Beds

2.5 Baths

1,810 SqFt

Status Active

MLS # 6703861

Property Type Single Family Residence

Price Type --

Stunning mountain retreat in High Country Pines nestled on a heavily treed .50-acre homesite on a private cul-de-sac. This 3 BR/ 2.5 BA is more than just a home; it's a sanctuary where nature's beauty surrounds this beautiful cabin. This home boasts a great room with a wood burning fireplace embraced by floor to ceiling river rock, chiseled slab granite in the kitchen with an island, gas stove, tiled backsplash, spacious laundry room with cabinets and sink, bathrooms are stone counters, travertine tiling in the baths/shower, knotty pine interior doors and ceiling, bay windows, central heat /AC, the master has dual vanities and a private balcony. The exterior offers a 2 car garage, flagstone and a firepit. The spacious rear deck brings breathtaking treetop vistas with panoramic views.

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