#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

13297 W Crimson Terrace Peoria, AZ 85383

$639,599

5 Beds

2.5 Baths

2,631 SqFt

Status Active

MLS # 6728385

Property Type Single Family Residence

Price Type --

*** Price Improvement & $13,500 CONSESSION by Seller for Solar Loan pay down *** This home has an open-concept main floor. One bedroom downstairs and four upstairs. The kitchen is an entertainer's dream with modern appliances, an undercounter sink, pantry, backsplash tile and 42'' white cabinetry with upgraded hardware. Quartz countertops in the kitchen, bathroom and laundry rooms. Upgraded floor and surround tile in all bathrooms. Upstairs, a loft offers a versatile common area, and a sprawling master suite includes and upgraded walk-in shower and closet. The home also includes theatre room audio pre-wire. Twin Butte mountain views galore including in the Primary bedroom, loft, stairs and the backyard! Upgraded flooring throughout the house! Over $109k of options and 6k lot premium

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3408 W Via Del Deserto -- Phoenix, AZ 85086

$639,500

4 Beds

3 Baths

3,011 SqFt

Status Active

MLS # 6763352

Property Type Single Family Residence

Price Type --

Pride of ownership shows in this beautiful home located in the desirable Tramonto subdivision. This home sits on a premium lot with common area to the East and North. One of the 4 bedrooms is on the lower level making a great office, guest suite or playroom. The large loft works also works great for those work-from-home individuals. The exterior of the home has a fresh coat of paint, and the entire home has been meticulously maintained by the original owners. Location in the community is perfect and in walking distance to school for your k-8th graders. You don't want to miss this great opportunity!!

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19973 N Half Moon Drive Surprise, AZ 85374

$639,500

2 Beds

2.5 Baths

2,732 SqFt

Status Active

MLS # 6764824

Property Type Single Family Residence

Price Type --

Picture yourself hosting gatherings in this spacious & versatile 2,732 sf Ironwood Estate.Discover a seamless flow between the living room, dining area, family room & kitchen, creating a perfect space for relaxing or entertaining.Gourmet kitchen with built in ovens, island, an abundance of counter top space, ample cabinets, walk in & butlers pantry.Primary ensuite retreat has a double vanity, soaking tub & walk-in shower.Cozy guest suite ensures your guests feel welcome & comfortable.Retreat to the comfort of the den for a good read.Inside utility room with sink,cabinets & W/D included. Shutters on many windows.2.5 car garage.Expansive 11, 891 square foot lot provides endless possibilities for creating your outdoor oasis.Save on utilities with Solar.Quality furnishing available separate.

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1906 W Lariat Lane Phoenix, AZ 85085

$639,000

3 Beds

2.5 Baths

2,567 SqFt

Status Active

MLS # 6761420

Property Type Single Family Residence

Price Type --

Gorgeous home looking for a new owner! Welcoming great room with abundant natural light, wood-style tile floors, a powder room, and modern light fixtures. The open-concept kitchen includes stainless steel appliances, popular white cabinets, an island with a breakfast bar, and granite counters. Continue upstairs to find a spacious loft for entertainment and 3-sizable bedrooms! The main retreat has a bathroom with a glass enclosure shower, dual sink vanity w/makeup area, and a walk-in closet. Outside, relax under the covered patio or lovely front porch. Don't miss the 2-car rear garage. Light tree-lined streets, pedestrian-friendly sidewalks, and a recreation center with a resort-style pool, kiddie pool, gathering areas, etc. A must-see property!

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1111 N High Point Drive Prescott, AZ 86305

$639,000

1 Bed

1 Bath

960 SqFt

Status Active

MLS # 6776096

Property Type Single Family Residence

Price Type --

Escape to this beautifully remodeled cabin in the serene pine setting of Highland Pines, where tranquility awaits. This charming one-bedroom, one-bath retreat offers an open floor plan, making the most of its cozy footprint. Inside, you'll find the tongue and groove beamed ceiling complemented by new wood flooring throughout, creating a warm and inviting atmosphere. The top-of-the-line chef's kitchen includes quartz counters, built-in shelf microwave and a professional KUCHT range with double ovens and. The great room opens to the deck through three glass folding doors, allowing natural light to pour in. The bathroom, completely renovated with a new bidet featured toilet and high-end marble subway-tile wainscotting and shower surround. The expansive deck provides amazing, sweeping views. The unobstructed views of the Prescott National Forest and Thumb Butte, offers the perfect spot for outdoor relaxation and entertaining. The home also boasts a newer roof for added peace of mind. A major bonus is the newly installed alternate septic system, which is designed to accommodate an additional two bedrooms and another bath. Whether you choose to expand with a single-level addition or explore a split-level or multi-level design, the spacious homesite offers flexible options for future growth. This property is easily accessible via paved roads and is served by a private water company, eliminating any concerns about water supply. For the right buyer, this is an incredible opportunity to own a piece of paradise with endless potential to make it your own.

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15531 W Piccadilly Road Goodyear, AZ 85395

New

$639,000

2 Beds

1 Bath

2,110 SqFt

Status Active

MLS # 6778730

Property Type Single Family Residence

Price Type --

South facing beautiful golf course home with front courtyard entry. Enchating outdoor living area with outdoor pergola, outdoor kitchen, outdoor bar, Misting system, Personal size Shasta Pool and heater if you want. Great landscaping for your privacy. Owner Solar with new solar converter, and if you have a green thumb a potting station, new heating and air, water softener system located in garage that as extra space for golf cart plus a hand wash sink in garage, front and back yard water system in him RO water system under sink. Sunburst shutters in Bedrooms and custom home office with built in custom cabinetry, Bedrooms both have walk-in closets. Both bathrooms updated. This home impresses with its high ceilings custom designed ET wall with lighting and built-in surround sound system with amplifier with builtin speakers. Great room with gas fireplace, 60in TV and windows have Hunter Douglas custom window treatments. bump out windows in kitchen nook second bedroom, ceiling fans, Stunning granite counters and klithen is upgrades and has under cabinet lighting, Spacious Utility Room. Also garage has storage cabinets. carpet free home, fence backyard. Seller is providing a home warranty.

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1903 E Ayden Court Payson, AZ 85541

$639,000

3 Beds

2 Baths

1,610 SqFt

Status Active

MLS # 6757095

Property Type Single Family Residence

Price Type --

Nestled in the highly sought-after, newer subdivision of Chaparral Vista, in a peaceful cul de sac located off Tyler Parkway. This stunning brand-new all electric home boasts 3 spacious bedrooms and 2 luxurious bathrooms, designed with modern elegance and functionality in mind with too many upgrades to list here. To see a full list see documents. The wrap-around deck is a standout feature, providing an ideal setting for outdoor entertaining or simply relaxing while enjoying the serene surroundings. Inside, every detail has been meticulously curated with high-end upgrades that elevate the living experience. The open-concept floor plan seamlessly connects the living, dining, and kitchen areas, creating a perfect space for both everyday living and special gatherings. The kitchen is a chef's delight, featuring state-of-the-art KitchenAid appliances, sleek quartz countertops, and custom cabinetry. The master suite is a tranquil retreat, complete with a beautifully appointed en-suite bathroom featuring premium fixtures and finishes. The additional bedrooms are generously sized, offering comfort and versatility for family, guests, or a home office. With its blend of contemporary design, thoughtful upgrades, and a picturesque wrap-around deck, this home in Chaparral Vista offers an exceptional living experience. Buyer to verify property taxes with Gila County.

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1834 N Mitchell Street Phoenix, AZ 85006

New

$639,000

3 Beds

2 Baths

1,218 SqFt

Status Active

MLS # 6775620

Property Type Single Family Residence

Price Type --

This historic bungalow is truly as good as it gets, and on one of the best streets in Coronado Historic District. The original 1937 bungalow has been carefully preserved, but just about all the major systems have been recently upgraded to modern (over $120K). The house is cozy, but flows bigger with the original two bedrooms and bath on the front side of the house, and the split addition of the master suite on the rear. The front room features updated floors (2024), fireplace and gorgeous light. Modern kitchen features custom cabinets, exposed brick wall and all new appliances. Completely remodeled master suite. OWNED SOLAR!!! Multiple hospitals close by as well as close to freeways, Downtown Phx and much more.

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4320 Copperhead Drive Wickenburg, AZ 85390

$639,000

2 Beds

2 Baths

1,990 SqFt

Status Active

MLS # 6762247

Property Type Single Family Residence

Price Type --

$50,000 PRICE REDUCTION! Welcome to this meticulously crafted 2-bed, 2-bath masterpiece, with a large office/den. Offering $200K in premium upgrades and sophisticated finishes. Designed for both luxury and comfort, the open floor plan is filled with abundant natural light, accentuated by beautiful wood-look tile and new carpet in both bedrooms The heart of the home is a spacious living area, anchored by a stunning stone fireplace, perfect for cozy evenings. The expansive wall of sliding glass doors invites seamless indoor-outdoor living, opening to a covered patio that's perfect for relaxation or entertaining. The kitchen is a showstopper, featuring a large island, upgraded appliances, and custom cabinetry, ideal for hosting gatherings. The primary suite is a retreat in itself, offering a generously sized, upgraded bathroom with high-end fixtures and finishes, ensuring a spa-like experience. The den, enclosed by double doors, provides versatilitywhether used as a home office, library, or additional guest space. Completing this home is an insulated 3-car garage, offering both ample parking and storage, designed for comfort year-round. The home is also still under warranty for peace of mind and comes fully furnished with top-tier, designer-selected pieces, allowing you to move in effortlessly.This is a rare opportunity to own a truly one-of-a-kind, energy efficient HERS rated, turnkey home in the idyllic setting of Wickenburg Ranch.

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3235 Josey Wales Way Wickenburg, AZ 85390

$639,000

2 Beds

2.5 Baths

2,229 SqFt

Status Active

MLS # 6764213

Property Type Single Family Residence

Price Type --

Welcome to your dream home, featuring 2 bedrooms, 2.5 bathrooms, all within over 2,200 sq ft of beautifully designed living space. The interior exudes a sleek and modern aesthetic, enhanced by an open floor plan that promotes a seamless flow. A private office/den comes with a Murphy bed and solid wood barn doors. The heart of the home is the kitchen, which boasts a large island perfect for meal prep and casual dining.The cabinetry and finishes create an inviting space for culinary enthusiasts and entertaining guests alike. The adjoining living area is bright and airy, anchored by a wall of sliding glass doors that lead to a generously sized, fully remote screened in patio, ideal for outdoor gatherings and relaxation while enjoying the serene 180 degree mountain views. This property has undergone significant upgrades since its last listing, ensuring it looks nothing short of amazing. With attention to detail and contemporary design elements, you'll appreciate the fine craftsmanship and thoughtful layout. The spacious primary suite offers a serene retreat with an en-suite bathroom featuring modern fixtures, while the second bedroom provides ample space for guests or family. Additional features include a convenient 3-car garage, providing plenty of storage and parking options. This home not only exemplifies modern living but also offers a lifestyle of comfort and elegance.

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7601 E Roosevelt Street Unit 1010 Scottsdale, AZ 85257

$639,000

3 Beds

2.5 Baths

1,967 SqFt

Status Active

MLS # 6772879

Property Type Townhouse

Price Type --

Great central location! This home features 3 bedrooms plus a large loft/office area with a home office nook. Minutes from ASU and Old Town Scottsdale with easy access to the 101 and 202 freeways. Quiet, small complex with a community pool. Enjoy sunsets from your balcony or landscaped backyard with turf and extended paver patio. Custom master closet, soaking tub, and double sinks in the master bath. Granite counters in the kitchen and baths, upgraded faucets, and a Blanco kitchen sink. Custom sunscreens on all south windows to improve efficiency. Directly on the Scottsdale greenbelt with miles of lakes, parks, and trails. 2 car attached garage with ev charging

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41216 N Prestancia Drive Anthem, AZ 85086

$639,000

3 Beds

2 Baths

2,082 SqFt

Status Active

MLS # 6764616

Property Type Single Family Residence

Price Type --

Fall in love with this wonderfully upgraded and updated Telluride model in Anthem Country Club. Wonderful floor plan with multiple entertaining spaces. Enter the home from the front courtyard to a cozy living room and formal dining room. Kitchen has it all with tons of cabinets, beautiful granite counter tops and awesome island/breakfast bar. Main bath has been remodeled and is a must see and the secondary bath has granite counters and dual sinks. The family room off the kitchen and is where everyone hangs out and you can exit to the wonderfully landscaped backyard with built in BBQ and beautiful golf, mountain and sunset views awaiting you!! This home is the perfect size for full time living or locks and leave for the summer. Cozy up to the outdoor fireplace on an elevated patio to watch the magical AZ Sunset! WELCOME HOME! Anthem Country Club is home to two 18 hole championship golf courses with two restaurants, 2 work out rooms, 2 pools, tennis, pickle ball, bocce ball and lots of fun people!

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