#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

10489 E Topaz Circle Scottsdale, AZ 85258

$630,000

2 Beds

2 Baths

2,041 SqFt

Status Active

MLS # 6754335

Property Type Single Family Residence

Price Type --

Fantastic location for 55+ adult community patio home in Scottsdale Ranch. Great corner lot, all 1 level, great bones, wonderful opportunity to customize to your preferences for this spacious 2 bedroom plus den home. Community amenities include heated pools, tennis courts and close proximity to Scottsdale Senior Center.

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16022 S 11th Place Phoenix, AZ 85048

$630,000

3 Beds

2.5 Baths

1,558 SqFt

Status Active

MLS # 6753651

Property Type Single Family Residence

Price Type --

Welcome to your dream home in Ahwatukee, where luxury meets tranquility! This beautifully updated residence boasts a complete renovation with modern finishes and meticulous attention to detail. Step inside to discover a fresh, contemporary vibe enhanced by brand new tile flooring and plush carpet throughout. The heart of the home, the kitchen, has been transformed with sleek modern shaker cabinets, elegant quartz countertops, and state-of-the-art stainless steel appliances, including a coveted wine fridge. Every detail, from the new electrical fixtures to the stylish new doors and paint, reflects quality craftsmanship and a commitment to comfort. The best part...the backyard opens directly onto a serene lake, offering breathtaking water views and a peaceful retreat at your doorstep. Additional updates include a brand-new roof, ensuring peace of mind and durability for years to come. Don't miss this rare opportunity to own a stunning, move-in-ready home with an unbeatable lakeside location.

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9929 E Timpani Lane Mesa, AZ 85212

$630,000

4 Beds

2.5 Baths

2,264 SqFt

Status Active

MLS # 6770757

Property Type Single Family Residence

Price Type --

Wecome home. This home offers a great room, dining space and kitchen with large center island, an ideal layout for having friends and family over and entertaining. A covered patio offers additional outdoor living space to enjoy those cooler evenings. Fall in love with the sophisticated owner's suite boasting an owner's bathroom with dual sinks and walk-in closet. There is also a second living area by the foyer that is perfect for the kids to hang out at. This Cadence community offers amenities including a play pool, water slides, etc. This place has it all!

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8776 W Peppertree Lane Glendale, AZ 85305

$630,000

4 Beds

3.5 Baths

3,126 SqFt

Status Active

MLS # 6659040

Property Type Single Family Residence

Price Type --

Newley remodeled home with great curb appeal with a 3 car garage, Lennar home with a NEXT GEN Suite! - Ideal for parents, adult children, home office with reception or as potential rental income for you! Next-Gen Suite has a family room, kitchenette, bedroom, shower and much more! There is a separate entrance from the side of the home into the suite as well as one from inside the main home that allows you to check in on your guests or loved ones easily. This home has two fridges that both convey in the sale, the main home has a spacious open floor plan, eat -in kitchen w/breakfast bar seating and spacious bedrooms. Large back yard! Short distance to schools, Westgate Entertainment District, sports venues, state farm stadium and the Loop 101. ALSO FOR RENT!

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8866 E Shangri La Road Scottsdale, AZ 85260

Open House

New

$630,000

3 Beds

2.5 Baths

2,172 SqFt

Status Active

MLS # 6778719

Property Type Single Family Residence

Price Type --

Located in the heart of Scottsdale, this beautifully updated 3-bedroom, 2.5-bathroom plus loft home offers 2,172 sq. ft of living space. Step inside to find LVP flooring throughout, complemented by neutral paint that sets a welcoming tone. The kitchen is designed for both cooking and gathering, featuring granite counter tops, a gas range, stainless steel appliances, and subway tile backsplash. Upgraded lighting and sleek hardware add a modern touch. The flexible floor plan includes a bonus loft upstairs, ideal for a home office, play area, or workout space. The oversized primary bedroom includes a walk-in closet. Outside, enjoy the privacy and ease of a low-maintenance, lock-and-leave style yard. The home also offers direct access to the adjacent greenbelt park, perfect for pets or kids to run and play. Centrally located in the Shea Corridor with easy access to Scottsdale's top shopping and dining, plus Honor Health, Mayo Clinic and the 101 Freeway. This home is truly move-in ready whether you call Arizona your full-time home or a part-time escape.

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18031 N Buntline Drive Sun City West, AZ 85375

Open House

$630,000

3 Beds

2 Baths

2,247 SqFt

Status Active

MLS # 6765848

Property Type Single Family Residence

Price Type --

Welcome to our jewel in the desert. This home is situated on the corner of Parkwood Drive and Buntline Road. Located on the 16th green of the Pebblebrook golf course. Complete with your own private swimming pool, this home has recently had a complete new roof installed. This home has three bedrooms, an open kitchen complete with upgraded quartz countertops. You are invited to come and enjoy all the improvements done. Thanks very much. Professional photography taken Monday, October 7, 2024.

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7833 E Obispo Avenue Mesa, AZ 85212

$629,999

4 Beds

2 Baths

2,532 SqFt

Status Active

MLS # 6775630

Property Type Single Family Residence

Price Type --

NEWLY RENOVATED ON A MASSIVE CORNER LOT! Home features 4 beds + a dedicated office space perfect for working from home and 2 full baths. A newly renovated kitchen with modern finishes! Oversized primary bedroom with completely remodeled bathroom! 12,000+ square foot lot with beautiful surrounding views and a sparkling pool! New interior and exterior paint! So many recent upgrades, come see it today because it won't last long!

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28903 N 211th Avenue Wittmann, AZ 85361

$629,999

5 Beds

3 Baths

2,681 SqFt

Status Active Under Contract

MLS # 6717920

Property Type Single Family Residence

Price Type --

Don't miss out on the opportunity to make this stunning property with NO HOA your own! This newly constructed home on 1-acre horse property offers the perfect blend of luxury and functionality. Open spacious floor plan and design the gourmet kitchen awaits, adorned with pristine white shaker cabinets and granite countertops. Tile flooring flows seamlessly throughout the entire home, offering both durability and timeless beauty. Beautiful Custom Home nearing completion! This home was built with care & quality!! Numerous details & upgrades throughout, not just cosmetically but through the bones of this home.

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17375 N 10th Street Phoenix, AZ 85022

$629,999

3 Beds

2.5 Baths

2,610 SqFt

Status Active Under Contract

MLS # 6766700

Property Type Single Family Residence

Price Type --

Take pride in residing in this highly upgraded home in Villas at Trellis! Appealing interior boasts clean lines that promote a modern feel! Abundant natural light graces the open floor plan paired w/hardwood flooring, crown moulding, surround sound, & wide sliding glass doors to the back patio. Lovely kitchen provides recessed & pendant lighting, SS appliances, ample cabinetry, subway tile backsplash, a pantry, & a butcher block prep island w/a breakfast bar. Make the flexible den & loft a study or TV area. HUGE main retreat offers plush carpet & an ensuite comprised of two vanities, make-up desk, large shower w/a drying area, & a walk-in closet. Fabulous backyard comes w/a covered patio perfect for relaxing or throwing a barbecue and enough space for fun get-togethers. Don't miss it!

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8125 W Gardenia Avenue Glendale, AZ 85303

$629,995

5 Beds

3 Baths

2,611 SqFt

Status Active

MLS # 6760893

Property Type Single Family Residence

Price Type --

Experience modern comfort in this beautifully updated 5-bedroom, 3-bath home, featuring new carpet and fresh paint throughout. With two master suites, this home is perfect for multi-generational living or accommodating guests. The spacious kitchen boasts granite countertops, abundant cabinetry, a pantry, and a large island—ideal for both cooking and gathering. The main master suite offers a spa-like experience with dual sinks, a separate soaking tub, a shower, and a walk-in closet. Designed for entertaining, the open floor plan flows effortlessly, and the expansive nearly 20,000 sq ft lot, complete with pool, offers endless possibilities for outdoor living, recreation, or relaxation.

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3728 W Antelope Way San Tan Valley, AZ 85144

$629,995

3 Beds

3.5 Baths

2,482 SqFt

Status Active

MLS # 6705342

Property Type Single Family Residence

Price Type --

Don't look any further for your new home! This quick move in home features an attached casita, flex room, and living room expansion on a corner home site. The casual dining area and living room are adjacent to the kitchen and provide an intimate setting. The home is loaded with extras, including tile floors throughout, an upgraded Kitchen Aid appliance package, multi-panel pocket door at the great room, beautiful quartz countertops, slate cabinets, and much more. This home is in close proximity to the fire pit sitting area and butterfly garden amenities. Experience the luxury you've always wanted!

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25388 N 76th Drive Peoria, AZ 85383

$629,990

4 Beds

3 Baths

2,150 SqFt

Status Active

MLS # 6704857

Property Type Single Family Residence

Price Type --

Brand new community in North Peoria! This stunning single story home offers 2,150 sq ft of functional living space. It features 4 bedrooms, 3 bathrooms, den, and a 3 car tandem garage. The open concept kitchen is perfect for entertaining and features a large Island, walk-in pantry and stainless steel appliances. It also offers our Coastal Design Palette which includes Fairview White Painted 42'' Cabinets, Crisp Stria Quartz kitchen countertops, Zelige Cielo 4x4 kitchen backsplash, and 6x36 wood looking plank tile in all the common areas. The great room offers a 4 panel center sliding glass door so you can step out into your covered patio to enjoy indoor/outdoor living in your backyard with friends and family. Great location close to dining, freeways, parks, and entertainment!

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