#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.

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14458 N Fountain Hills Boulevard Fountain Hills, AZ 85268

$639,900
3 Beds
2 Baths
1,417 SqFt
Status Active
MLS # 6768930
Property Type Single Family Residence
Price Type --
Welcome to this fully remodeled Fountain Hills home, modern with warm rich wood flooring, complimented with new plantation shutters throughout. Step into the inviting great room featuring a cozy fireplace and a new open kitchen equipped with quartz countertops. The spacious main bedroom offers an open sink area and generous walk-in closet for ample storage. Outside, the oversized backyard features a fenced heated pool, raised planters, and a shaded tiled patio - perfect for relaxation and entertaining. Fountain Hills is a vibrant community centered around Fountain Park, with lots of activities, offering convenient access to shopping, dining, and golf, all surrounded by breathtaking views. (Full remodel included New Roof & complete paint inside and out).

22908 N Las Vegas Drive Sun City West, AZ 85375

$639,900
3 Beds
2 Baths
2,145 SqFt
Status Active Under Contract
MLS # 6739579
Property Type Single Family Residence
Price Type --
REDUCED!! Welcome to this exceptional Lakeside model featuring three bedrooms and a spacious 2.5-car garage. Ideal for owners with full-size trucks, this home boasts stacked stone accents trimming the front, along with a pergola and a covered back patio. Numerous updates throughout provide modern convenience. Additional amenities include an extra refrigerator in the garage and an owned solar system. Positioned along the 5th hole of the Desert Trails golf course, this residence is nestled within Sun City West, renowned for its nine golf courses, four recreation centers, and numerous pickleball courts.

10653 N 11th Street Phoenix, AZ 85020

$639,900
3 Beds
2.5 Baths
1,602 SqFt
Status Active Under Contract
MLS # 6756687
Property Type Single Family Residence
Price Type --
Welcome to your dream home! This beautifully remodeled residence in the coveted Pointe Tapatio community offers a perfect blend of elegance and modern comfort. With 3 spacious bedrooms and 2.5 bathrooms spread across 1,602 square feet, this home is designed for both relaxation and entertaining with an oversized lot. As you step inside, you'll be captivated by the high-end finishes and meticulous attention to detail throughout. The stunning kitchen is a chef's delight, featuring top-of-the-line appliances, custom cabinetry, and a sleek, contemporary design that seamlessly combines form and function. The open-concept living and dining areas flow effortlessly, creating an inviting space for gatherings. Retreat to your master suite, where you'll find a luxurious walk-in shower and sophisticated finishes that enhance the serene atmosphere. The large lot provides ample outdoor space, including a sparkling pool that's perfect for cooling off on warm days or hosting summer soirées. Enjoy peaceful mornings and vibrant evenings in your private backyard oasis. Located in the desirable Pointe Tapatio neighborhood, you'll enjoy easy access to local amenities, parks, and top-rated schools. This residence is more than just a houseit's a lifestyle.

7805 W Noble Prairie Way Florence, AZ 85132

$639,900
2 Beds
2.5 Baths
2,541 SqFt
Status Active
MLS # 6757218
Property Type Single Family Residence
Price Type --
**This is the one!!** You'll be hard pressed to find another home like this in Anthem at Merrill Ranch. Absolutely immaculate with amazing upgrades and a private Oasis for a backyard. You can tell as you pull up to this house that it stands out...amazing custom design landscape with a front courtyard to enjoy your morning coffee. Enter through a high-end custom front door to a large, open floor plan with designer finishes. Everything from the flooring to the ceiling presents custom finishes and top of the line hardware. The open floor concept combines the kitchen, eating and living space that opens up to a beautiful, over-sized backyard with resort style finishes and no neighbors behind! This includes extras such as outdoor LED lighting... WIFI controlled landscape irrigation, natural gas fire-pit and outdoor covered kitchen with grill, lighted water feature, custom remote controlled fans, custom windows coverings, Quartz countertops and oversized kitchen island, crown moulding, ceramic tile backsplash, custom pendant lighting, walk-in pantry and Butler pantry, extensions for more room in the eating and master bedroom space, and much more. This floor plan also features a den/office that could be utilized as a 3rd bedroom. This is a must see home if you are looking for one of the premier homes in the community. Combine this home with the award winning community of Anthem at Merrill Ranch and all of it's amazing amenities and you have absolute paradise! BONUS...this home can be purchased furnished.

1785 S Nebraska Street Chandler, AZ 85286

$639,900
3 Beds
2 Baths
1,847 SqFt
Status Active
MLS # 6773414
Property Type Single Family Residence
Price Type --
Experience luxury living in this stunningly remodeled home, nestled on a generous quarter-acre corner lot. The heart of the home is a chef's dream kitchen, boasting gleaming stainless steel appliances, crisp white cabinetry, an expansive island, and chic granite countertops complemented by a stylish tile backsplash. Relax in the opulence of the fully updated master suite featuring a garden tub, a walk-in shower, and dual sinks. With a versatile bonus room, your options are endless. Transform it into a home office, game room, or formal living space.. Neutral two-tone paint and elegant plantation shutters adorning the windows, create a serene backdrop throughout the home. Parking for up to 6 vehicles in the attached 3-car garage and driveway.

19528 N 55th Drive Glendale, AZ 85308

$639,900
5 Beds
3 Baths
2,397 SqFt
Status Active Under Contract
MLS # 6702911
Property Type Single Family Residence
Price Type --
This Home Won ''Best Home On Tour'' in the Glendale Home Tour! You'll LOVE this impressive 5 Bedroom remodel with NO HOA and upgrades around every corner. Gorgeous hickory wood floors. The kitchen has custom cabinets and granite counter tops accented by sleek stainless steel appliances. There's an island w/ seating & pendant lights! The primary bedroom is spacious w/gorgeous views of the green backyard. The primary bath has a garden tub & a glass walled shower.. You won't be disappointed out back either. The oversized backyard offers lush green grass, perimeter trees for shade, a covered patio, a flagstone sun patio, & a gas fire pit. Don't miss the built in barbeque plumbed w/ Natural gas. There's a 3 car garage, an RV Gate with concrete pad and NO HOA. Roof was replaced in 2022

9237 E Sector Drive Mesa, AZ 85212

$639,900
4 Beds
3 Baths
2,224 SqFt
Status Active
MLS # 6774308
Property Type Single Family Residence
Price Type --
FORMER MODEL HOME! Ready for Quick Move-In. 4 BR + Loft / 3 BA. The home features a gourmet kitchen with white cabinets, black pulls throughout, quartz counter tops in the kitchen and a 'Mosaic Ripple' 2x8 brickwork stacked backsplash. This home features upgraded wood tile flooring throughout the downstairs and carpet flooring in the bedrooms. This home comes included with a Tankless Water Heater, REME Halo Whole House Air Purifying System and a Apple Pod Smart Home Kit.

2604 E Joan D Arc Avenue Phoenix, AZ 85032

$639,900
3 Beds
2 Baths
2,015 SqFt
Status Active
MLS # 6760734
Property Type Single Family Residence
Price Type --
Welcome to your mountainside retreat! This beautifully designed 3-bedroom, 2-bathroom home boasts 2,015 sq. ft. of stylish living space, nestled on nearly half an acre. Enjoy breathtaking mountain/valley views from every angle, offering a serene backdrop to your daily life. Step inside to discover tastefully done finishes that seamlessly blend comfort and elegance. The heart of the home features a cozy flagstone fireplace, perfect for those chilly evenings. The open-concept layout flows effortlessly from the living area to the kitchen, ideal for entertaining family and friends. PVUSD schools. Seller Financing Available. Buyer to verify all facts and figures

4310 E John Street Gilbert, AZ 85295

$639,900
3 Beds
2.5 Baths
1,869 SqFt
Status Active
MLS # 6689144
Property Type Single Family Residence
Price Type --
This beautiful Cavalcade plan, 1869 sf single story home is our most popular plan of our Seaboard homes. Beautifully laid out with 3 bedrooms and 2.5 baths separated by an open study off a spacious great room with linear fireplace and open gourmet kitchen. The master bedroom has a French door to a large covered patio and features an roomy walk in closet and a beautifully appointed master bath highlighted by a gorgeous spa shower. Beautiful plank tile flooring shows off the wonderful great room which opens to the outside with an expansive 16' atrium glass door. The gourmet kitchen features upgraded 42'' upper Painted Linen Shaker style cabinets with upgraded crown molding. The granite countertops are highlighted by the upgraded 3 x 12 full tile backsplash. This home shows like a dream

810 W Allen Street Phoenix, AZ 85041

$639,900
4 Beds
2.5 Baths
2,885 SqFt
Status Active
MLS # 6768782
Property Type Single Family Residence
Price Type --
You'll fall in love with this immaculately maintained South Mtn area home. Embracing an open floor plan, the home boasts upgrades including 2 NEW HVAC units (5/24), walk-in closets for master and single bedroom, plantation shutters, granite countertops, etc. (see documents tab for full list). Convenient downstairs master suite enjoys a separate exit to putting green. The spacious Loft overlooking the family room accesses an oversized VIEW deck. Two of the three upstairs bedrooms have hard-surface LVP w/newer carpet in the third bedroom, all w/C-fans & plantation shutters. Many family memories will be made in your Backyard Oasis with a removable fence at your Pebbletec pool w/waterfall & baja shelf. You'll love the adjustable cover at the Pergola extended covered patio

10139 E Bergeron Avenue Mesa, AZ 85212

$639,900 - 3Br/3Ba -  for Sale in Eastmark, Mesa
Open House
$639,900
3 Beds
2.5 Baths
2,425 SqFt
Status Active
MLS # 6750605
Property Type Single Family Residence
Price Type --
Welcome to your new home in the heart of Eastmark! This beauty is on a N/S lot and boasts a spacious, open floor plan w/3 bedrooms plus a den. The gourmet kitchen is a true standout, feat. a large island/breakfast bar perfect for casual meals or entertaining. You'll love the quartz countertops, sleek tile backsplash, & abundance of white shaker cabinets, all topped off w/crown molding. beautiful stainless steel appliances, incl. a gas cooktop, double ovens, & a built in micro. Plus, the soft water & R/O systems. Step outside & you'll find your very own backyard oasis. The covered patio is wired w/speakers, a pebble-tec pool w/an oversized second step & water feature. There is also a synthetic grass area & gazebo. 10-foot ceilings, plantation shutters, & surround sound t/o. 3 car garage & storage racks and a service door adds even more convenience to this incredible home. All this and the award winning Eastmark community. More than a place to live, Eastmark is a community built on rich connections and creativity. It's also a place to evolve. Eastmark is defined by its diverse residents who work together to co-create this special place where neighbors not only know each other, but are personally and emotionally connected to each other and to our community. Living here truly is the mark of something special. Eastmark Community Center Community fun is seriously cool at Eastmark. The Bus Stop at The 'Mark is a one-of-a-kind, resident-only community center featuring a retrofitted bus for seating. It's the place to be with a wide variety of family friendly games - Shuffle Board, Skee Ball, Foos Ball, Pool Tables, plus a giant Scrabble Wall, Toddler Play Area and cozy spots for lounging. As if that wasn't enough entertainment, the Community Life team also offers activities including BINGO, Free Throw Tournaments, and Story Time. An 18 hole disc golf course, skate park, the orange monster at one of the playgrounds, That's the purpose of Eastmark's Orange Monster. Designed by kids for kids, this unique climbing park is the ultimate urban playground. Spray, Run, & Giggle at Eastmark Splash Pad You have to work hard not to enjoy Eastmark's public splash pad. Kids have a blast cooling off, and parents have fun catching up with neighbors and friends. The view from Palm Plaza isn't bad either. That may be why Arizona Foothills Magazine named it one of The Valley's Best Splash Pads. Eastmark Community Pool Just outside the Bus Stop is our Community Pool. At 4,000+ square feet, this pool feels more like a private resort-style amenity - no reservations needed. For the kiddos, there's a smaller 560 square foot toddler pool. Make a day of it for your family and grill up some food to share under the shade sails.

920 E Mitchell Drive Unit 102 Phoenix, AZ 85014

$639,900 - 3Br/3Ba -  for Sale in Mitchell Lofts Condominium, Phoenix
Open House
$639,900
3 Beds
2.5 Baths
2,212 SqFt
Status Active
MLS # 6766489
Property Type Townhouse
Price Type --
Jaw dropping modern townhouse in prime location of Phoenix. This townhouse offers you 2200 sq ft of real estate heaven. 3 bedrooms, 2.5 bath, and 2 car garage. Vaulted ceilings in living room with an open kitchen concept. Unit has a rooftop deck thats accessible by a spiral staircase off the great room balcony. Master bedroom has an amazing ensuite that includes dual vanity, walk in shower w/ separate tub. Kitchen includes granite countertops, ss appliances, wine fridge, custom paint through out, store front windows with coverings, ceramic tile through out main floor and luxury plank vinyl flooring on lower level. Lower level includes 2 bedrooms, full bathroom and family room. This Place will not disappoint!

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