#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

20417 W Bradley Road Wittmann, AZ 85361

$629,900

4 Beds

2 Baths

2,191 SqFt

Status Active

MLS # 6721052

Property Type Single Family Residence

Price Type --

Beautiful home in West Bradley Road, Wittmann, Arizona.

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8562 E Pierce Street Scottsdale, AZ 85257

$629,900

3 Beds

2 Baths

1,819 SqFt

Status Active

MLS # 6759079

Property Type Single Family Residence

Price Type --

Spectacularly remodeled 3 bdrm & 2 bath home on LARGE cul-de-sac lot w/ 2-car garage, a low maintenance yard, large covered patio, new pavers, & a concrete slab wired for hot tub (is it?). Open floor plan w/ spacious vaulted ceilings. New, matching cabinets & matching quartz counters throughout the home including a HUGE kitchen island & the perfect peninsula. All new windows. Brand new SS appliances incl. fridge, dishwasher, & drawer microwave convey. New modern tile floors throughout (no carpet). Both showers are newly tiled w/large glass enclosure in master. All new fixtures + ceiling fans w/remotes! Fresh paint in/out. OWNER/AGENT.

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2622 E Indianola Avenue Phoenix, AZ 85016

$629,900

3 Beds

2 Baths

1,615 SqFt

Status Active

MLS # 6745243

Property Type Single Family Residence

Price Type --

Prepare to be blown away the moment you enter this truly unique, single story, turn-key home on a quiet street with curb appeal galore. The property has undergone a substantial, fully permitted, redesign & remodel. The kitchen features a large walk-in pantry, nice sized island & Quartz counters with a SS refrigerator included. Featuring a light & bright, open floor-plan with master retreat with a modern, curb less shower, large walk-in closet & private yard access. Featuring an extra-large indoor laundry room and a giant garage that's been fully finished as well. Attention to detail surely comes to mind as you stroll through this property. The fully fenced rear yard has tons of privacy, has been professionally landscaped and is perfect for entertaining with views of Camelback. With alley access and a large rear gate, there is plenty of room for all the toys or the creation of an accessory dwelling unit (ADU) recently allowed by the City. In addition, the home features an extra deep garage as well, which is a rare find for this area. The possibilities are endless. Hurry in to preview and make this dream home your reality, as it's sure to sell fast!

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3122 E Windmere Drive Phoenix, AZ 85048

$629,900

4 Beds

2.5 Baths

2,104 SqFt

Status Active

MLS # 6753762

Property Type Single Family Residence

Price Type --

Welcome home! This beautiful residence is in the gated Estates at the Ranch, an exclusive single-story home Community in the award-winning Mountain Park Ranch. Offering 4 beds, 2.5 baths, 2-car garage, & a low-care landscape. Discover a large living/dining room combo and a separate family room w/fireplace & surround sound! Tall ceilings add to the airy feel, complemented by plantation shutters, & tile flooring in common areas. The kitchen boasts built-in appliances w/cooktop elec, granite counters, recessed lighting, ample wood cabinets, and a breakfast area. Carpeted double-door main bedroom has outdoor access and an ensuite with dual sinks, separate tub/shower, & a walk-in closet. Enjoy the entertainer's backyard with a covered patio, firepit, built-in BBQ, & a sparkling pool!

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21244 W Yale Street Buckeye, AZ 85396

$629,900

4 Beds

3 Baths

2,397 SqFt

Status Active

MLS # 6766303

Property Type Single Family Residence

Price Type --

I'm excited to introduce you to an exceptional opportunity that perfectly blends luxury and versatility—your dream home awaits! This remarkable property features two homes in one. Nestled in a serene neighborhood, it boasts an additional private 1-bedroom, 1 bathroom Casita with its own kitchenette, laundry, separate entrance, and private patio. Perfect for guests, mother-in-law suite, home office, or rental. The main house offers breathtaking views of Skyline Regional Park, ideal for outdoor enthusiasts with its proximity to hiking and biking trails. Designed with an open floor plan and split bedrooms, it's perfect for entertaining. The chef's kitchen features a large island, quartz countertops, and stainless-steel appliances, making it a culinary haven for family gatherings. For added convenience, the home is equipped with a Reverse Osmosis system for pure drinking water and surround sound throughout. For those cooler evenings cozy up by the fireplace, complete with customizable highlight colors. The razor-thin mounted TV and Sonos soundbar above the fireplace stay, and most of the furniture will remain. With 10-foot ceilings throughout, enjoy seamless indoor-outdoor living with expansive sliding doors leading to your outdoor space with stunning mountain views. This includes an extended covered patio and pergola, built-in BBQ, gas firepit, putting green, and lush artificial turf. The spacious master suite offers private backyard access and a spa-like bathroom, creating a tranquil retreat. Additional features include a water softener, a 3-car tandem garage for vehicles and storage, an RV gate, and a community pool just moments away. Located just minutes from Verrado Marketplace with shops, restaurants, and entertainment at your fingertips and with easy access to the I-10 freeway, this property combines comfort and convenience. Don't let this incredible opportunity pass you by!

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26405 W Zachary Drive Buckeye, AZ 85396

$629,850

2 Beds

2 Baths

2,015 SqFt

Status Active

MLS # 6767875

Property Type Single Family Residence

Price Type --

PRESERVE WITH NORTH/SOUTH FACING ON GORGEOUS GOLF COURSE & CORNER LOT WITH MOUNTAIN VIEWS! TILE floors,Plantations Shutters & water softener throughout. Living Room with Custom Built Media Wall with fireplace insert and Custom Built Wet Bar wall. Kitchen w/Granite counters, backsplash, upgraded cabinets-soft close w/pull out shelves, reverse osmosis, pendant lights, & walk in pantry. Beautiful guest bedroom. Guest bathroom with granite counter & shower. Owner's Suite has a beautiful walk in tiled shower w/seat, granite counters, dual sinks & walk in closet. Ext Laundry w/tons of cabinets. Back porch with ELECTRIC shades, fire pit w/ great views & much more! OWNED SOLAR PANELS!!

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18238 E Coronado Cave Court Rio Verde, AZ 85263

$629,783

2 Beds

2 Baths

1,678 SqFt

Status Active

MLS # 6759503

Property Type Single Family Residence

Price Type --

Welcome to this beautiful home in the Resort Collection at Trilogy at Verde River. The Valletta offers a well thought-out layout with 2 bedrooms, 2 bathrooms, and an office. Enjoy upgraded flooring in main areas, upgraded landscape package with pavers and an upgraded outdoor pergola. The kitchen is stunning with White Arctic Shaker Painted Cabinets, Upgraded Rollout and Soft- Close Drawers in the Kitchen, and a spacious kitchen island with a breakfast bar. The great room boasts a 12 foot multi-slide door that open to the covered patio. The primary suite has a lavish ensuite with a huge tiled shower and walk-in closet. Do not miss out on this home The amenities at Verde River are World Class with Tom Lehman inspired eighteen-hole Golf course, tennis courts, pickleball courts, and bocce ball, heated lap pool and Resort style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails.

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20587 E Via De Colina -- Queen Creek, AZ 85142

$629,501

3 Beds

2 Baths

2,166 SqFt

Status Active

MLS # 6603845

Property Type Single Family Residence

Price Type --

MLS#6603845 Ready Now! The Windsor floor plan in the Ellsworth Ranch Landmark Collection blends down-home warmth with elegance and style. This single-story design is an incredible family home with 3 bedrooms, 2 bathrooms, a study, attached 2-car garage, and 2,166 square feet of living space. Walk through the front door and you're greeted by the study along with 2 guest bedrooms and a shared full bathroom. At the end of the foyer, the gathering room, kitchen with island, and dining area seamlessly connect - perfect for entertaining family and friends! Relax and unwind in the owner's suite and bath that is tucked in the back for privacy featuring a soaking tub, separate shower, dual vanities, and large walk-in closet. Down the long hallway from the owner's suite is the secluded game room - ideal for family fun nights! Design upgrades to highlight include: flooring, lighting, cabinets, and more! Structural options include: Gourmet kitchen, and garage service door.

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15221 N Clubgate Drive Unit 1031 Scottsdale, AZ 85254

$629,500

2 Beds

2 Baths

1,401 SqFt

Status Active

MLS # 6676920

Property Type Apartment

Price Type --

This meticulously designed 2-bedroom condo in Kierland Greens offers a blend of elegance and comfort, from the captivating wood-like tiled floors to the luxurious primary suite. This home is located on the first level with NO STEPS! The unit was just recently painted inside, with new light fixtures as well as new carpet in the bedrooms. This bottom floor corner unit epitomizes luxury living with its attention to detail and sophisticated design elements, making it a desirable space for relaxation and entertaining. The convenient location offers access to a plethora of dining and shopping options, situated near the Kierland Golf Club, Kierland Commons, and Scottsdale Quarter, making it an ideal choice for those seeking a vibrant and dynamic lifestyle.

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4757 E Amber Sun Drive Cave Creek, AZ 85331

$629,500

5 Beds

3 Baths

2,248 SqFt

Status Active

MLS # 6708250

Property Type Single Family Residence

Price Type --

Beautiful 5 BR, 3 FULL BATH home features elegant wood-like tile, an inviting family room, vaulted great room, and *NEWLY UPDATED* kitchen with granite countertops, appliances included! The first floor also has a laundry room (with washer/dryer), a bedroom, and a remodeled full bathroom - perfect for guests or multi-generational living. Upstairs includes additional bedrooms, a remodeled bathroom, and primary bedroom with en-suite bathroom and walk-in closet. The private backyard offers a covered patio, extended paver patio, shade trees, and view fencing. Modern amenities include structured media panel, Nest thermostats, Yale Smart Lock, and Ring doorbell. Excellent school district, close to shopping, and within 20 minutes of the I-17 and 101. Don't miss this opportunity in Cave Creek!

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11225 E Ocaso Avenue Mesa, AZ 85212

Open House

$629,500

3 Beds

2 Baths

1,910 SqFt

Status Active

MLS # 6727396

Property Type Single Family Residence

Price Type --

A must see, beautiful 2 bed, 2 bath residence with a den in Sunland Springs Village. Great curb appeal complete with front patio to enjoy the sunsets, artificial turf, and a 2.5 car garage with built-in cabinets. The home has a warm and inviting great room paired with large dining areas, tall ceilings, tile floorings, and lots of natural light. You'll love the gourmet kitchen boasting stainless steel appliances, granite counters, staggered modern white cabinets, a pantry, recessed lighting, and an island with a breakfast bar. Spacious primary bedroom has an ensuite with dual sinks & a walk-in closet. Spare bedroom with double-door entry can be used an office as well. Cozy backyard offering a covered patio with extended pavers ready for you to enjoy and entertain.

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220 W Fellars Drive Phoenix, AZ 85023

Open House

$629,500

3 Beds

2 Baths

1,971 SqFt

Status Active

MLS # 6762329

Property Type Single Family Residence

Price Type --

Gorgeous Single-Story Home w/3 Bedrooms Plus Large Den/Office, 2 Bathrooms & Upgrades Galore. Interior Features Diagonal Tile Flooring t/o & Carpet in Bedrooms. Great Room Style with Bright, Open Kitchen w/Large Granite Island, Breakfast Bar, SS Appliances, Chef's Gas Stove, Tons of Cabinets & Walk-In Pantry. Split Bedroom Floorplan with Large Master in Back offering Bathroom w/Step-In Shower, Double Sinks & Walk-In Closet., Exterior offers North facing Backyard w/Low Care Turf & East Side Patio for Shady Afternoons. Front Yard has EZ Care Landscaping w/Paver'd Driveway & Entry Walkway to Gorgeous Wrought Iron Security Door & RING Doorbell. Location is PRIME: Close to Shopping, Dining & Freeway Access! Community is Gated with Children's Playground in Center & in a Great School Boundary

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