#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

8638 E Palm Lane Scottsdale, AZ 85257

$624,900

3 Beds

2 Baths

1,470 SqFt

Status Active

MLS # 6737598

Property Type Single Family Residence

Price Type --

Freshly updated and just a short drive to Old Town. Large open floor plan. The Farm House Modern style immediately makes you feel at home. Kitchen and laundry room appliances come included. Large pool surrounded by grass. Automatic irrigation. No HOA. Currently has tenants in place for the next 7 months, they are open to continuing lease or ending the lease early as well for an owner/ occupant buyer.

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2560 N Lindsay Road Unit 66 Mesa, AZ 85213

$624,900

4 Beds

3 Baths

2,151 SqFt

Status Active

MLS # 6763255

Property Type Single Family Residence

Price Type --

SELLER IS OFFERING BUYER CONCESSIONS with a competitive offer!! This beautifully remodeled 4-bed, 3-bath home in Mesa is a must-see! Designed by the renowned Maverick Design, the home boasts modern elegance throughout. The primary bathroom is a true showstopper with a brand-new floor-to-ceiling tiled walk-in shower, featuring double shower heads for a spa-like experience. The spacious kitchen is perfect for the home chef, complete with new stainless steel appliances and stunning granite countertops. Downstairs, the finished basement offers a private retreat with its own bedroom and full bathroom. The home is outfitted with new luxury vinyl floors and upgraded baseboards, adding a touch of sophistication. Two brand-new HVAC systems ensure year-round comfort!!

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25742 N 103rd Drive Peoria, AZ 85383

$624,500

3 Beds

2 Baths

2,172 SqFt

Status Active

MLS # 6760450

Property Type Single Family Residence

Price Type --

Amazing View lot with all the incredible features you dream of! To start, you enter into this home with soaring 10-foot ceilings, then into the large open kitchen with an entertainers Granite countertop, stainless appliances, 16 Inch tile throughout, gas fireplace, large family room, extended covered back patio looking out over the horizon and awesome mountain views! Split floorplan with very private master Suite with exit onto the patio, Garage is extended with a service door leading to an RV parking area and RV gates. This is a well sought after community in the Peoria public school district, and only a few miles of Several National Acclaimed Charter Schools. Easy access to loop 303-I-10 AND the 101. This home is a MUST SEE!! Don't miss your opportunity 2 Own this one!

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494 S Soho Lane Unit 5 Chandler, AZ 85225

$624,000

4 Beds

3.5 Baths

2,039 SqFt

Status Active

MLS # 6733790

Property Type Single Family Residence

Price Type --

Welcome to the epitome of luxury patio home living at Parkside Villas in Chandler, Arizona! Step into a world of elegance and comfort with our spacious floor plans boasting generous living areas and luxurious kitchens. With 9 foot ceilings on the main floor, natural light floods in, creating a bright and inviting ambiance perfect for any occasion. Choose from our 3 or 4 bedroom layouts, each featuring 3 ½ baths for optimal convenience. Our gourmet kitchens are the heart of the home, seamlessly opening to the family room, making entertaining a breeze. Indulge in upgraded cabinetry, sleek quartz countertops, and top-of-the-line stainless steel appliances throughout, elevating your culinary experience. Relax and unwind in your own private outdoor patio area, where cozy evenings await.

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1467 County Rd 3140 -- Vernon, AZ 85940

$624,000

3 Beds

2 Baths

2,840 SqFt

Status Active

MLS # 6750877

Property Type Single Family Residence

Price Type --

LOCATION, LOCATION, A Hunters Dream. gorgeous 5 acres border national forest with lots of ponderosa pines. QUIET area and great VIEWS from 2nd story, Kitchen for a chef- large cabinets (lights top & bottom), double ovens, freezer, and large pantry with electric outlets, Handicap accessible-doors & hallway. Enjoy the fresh air with Double hung windows. Grow your own vegetables in the greenhouse and use the chicken pen for your eggs. Also enjoy 7 apple trees, blackberries, rhubarb and so much more. Two car garage (fits 2 large trucks) or for your toys. No HOA. 20 degrees cooler than Phx. Act fast before this gem is gone. Want another 5 ac next to this? see MLS #6756610.

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18214 W Medlock Drive Litchfield Park, AZ 85340

$624,000

4 Beds

2.5 Baths

3,031 SqFt

Status Active

MLS # 6769264

Property Type Single Family Residence

Price Type --

Beautiful 4-bedroom home in Azure Canyon! Its charm starts with a mature landscape, 4 car garage, & a private courtyard. Home exudes elegance with chic light fixtures, a neutral palette, tons of natural light, and tile & plush carpet t/out. Just off the front entry, you'll find a formal dining room & a versatile den. The large living room perfectly flows onto the gourmet kitchen, making entertaining a bliss! Granite counters, a walk-in pantry, a large island, espresso cabinetry, a cozy nook, and SS appliances w/cooktop gas make up the culinary space. Primary bedroom has an ensuite with dual sinks & a walk-in closet. Laundry room with cabinetry & storage closet. You'll LOVE the north-facing backyard with a covered patio, well-laid pavers, artificial turf, & mountain views! Just WOW!

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30317 W Roosevelt Street Buckeye, AZ 85396

$624,000

3 Beds

2 Baths

1,659 SqFt

Status Active

MLS # 6730388

Property Type Single Family Residence

Price Type --

Welcome home to this 3 bedroom, 2 baths, horse property nestled on an over 1-acre lot! Inside, you will be welcomed by the striking vaulted ceilings, tile flooring, Y neutral palette. The spacious great room enjoys plenty of windows & backyard access for a bright and airy entertaining experience. The eat-in kitchen features plenty of wood cabinets w/crown mouldings, SS appliances, granite counters, & a peninsula w/breakfast bar. Have a great night's sleep in the main bedroom boasting soft carpet & an ensuite w/dual sinks & a walk-in closet. The sizable backyard provides a relaxing covered patio storage shed, above-ground spa, corral & stalls for horses. Lighted riding arena with an RV plug. Do not miss this vast lot, perfect for all your projects or RV parking. Don't wait til its too late

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4121 E Edgemont Avenue Phoenix, AZ 85008

$624,000

3 Beds

2 Baths

1,686 SqFt

Status Active Under Contract

MLS # 6755268

Property Type Single Family Residence

Price Type --

Welcome to this charming ranch-style home located just outside the highly desired Arcadia Osborn neighborhood. This home features the timeless benefits of classic brick construction and has been meticulously maintained over the past 20+ years. The pride of ownership is palpable from the moment you step onto this 10,000 sq ft irrigated lot. The exterior includes an extended brick patio for entertaining, lush lawns, mature trees (including two fruit trees), and vibrant shrubs. Inside, enjoy an airy, move-in ready space with multiple living areas. Its central location offers easy access to shopping, dining, the airport, and freeways. This is one you won't want to miss —come view today!

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23224 W Hilton Avenue Buckeye, AZ 85326

$624,000

3 Beds

2 Baths

2,343 SqFt

Status Active

MLS # 6660516

Property Type Single Family Residence

Price Type --

OWNERS ARE ASKING AGENT TO REMIND PLEASE DO NOT CALL THEM, THEY ARE NOT MOVING AND DO NOT WANT SOLISITATION FROM INVESTORS OR AGENTS. OWNERS ARE STAYING IN THE HOME. PLEASE DO NOT CALL. OWNERS HAS REGISTRED ON THE DO NOT CALL LIST. TY

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170 W Midway Street Payson, AZ 85541

$624,000

3 Beds

2 Baths

2,150 SqFt

Status Active

MLS # 6718786

Property Type Single Family Residence

Price Type --

A little over an acre with great panoramic views of the Rim. Wonderful house with plenty of storage space. Very cozy front room with vaulted ceilings and a great fireplace. Kitchen with walk-in pantry. Large rooms with plenty of storage. Spiral staircase off the front room leads to a loft space above.

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40 W Campfire Trail Munds Park, AZ 86017

$624,000

3 Beds

2 Baths

1,641 SqFt

Status Active

MLS # 6711493

Property Type Single Family Residence

Price Type --

Exterior was freshly painted 8/12/ 2024. Welcome to your rustic cabin in quiet & peaceful Munds Park w/no HOA. This MOVE_IN READY 3 bed 2 bath home is located on a private cul-de-sac nice sized lot. Enjoy the stunning views from your 12' x 24' spacious deck, open floor plan with a wood burning stacked stone fireplace, huge owners suite with a gorgeous shower and floor in the owners bath, very large Arizona room with skylight exits to good sized back yard and 8' x 10' storage shed, up to 6 parking spaces with good sun exposure for melting snow in front, sleeps up to 8 people for a short term rental or second home in the forest. Flagstaff is only appx 17 miles away. Very few homes for sale in the area. Most of the furniture is included in sale

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3135 W Molly Lane Phoenix, AZ 85083

$624,000

4 Beds

2.5 Baths

2,985 SqFt

Status Active

MLS # 6741058

Property Type Single Family Residence

Price Type --

Priced below others in the area for quick sale, this highly upgraded home has a play pool, heated spa, built in bar in the living room with a wine chiller and a liquor cabinet for entertaining, formal dining convenient to the kitchen, easy to maintain, like new real wood floors throughout, and granite kitchen and bathroom counters. The Large Master bedroom is upstairs with a huge walk-in closet a master bath with a separate shower, jetted tub and a bidet. A spacious loft which could be converted into a bedroom. An office, half bath, with upgraded vanities and all living areas are down stairs. all bedrooms are upstairs. Has two AC units for lower utilities. Window shades, BBQ Island with Fridge and Fire pit Come and see. You will love it.

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