#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

4574 W Gilbert Lane San Tan Valley, AZ 85144

Open House

$623,645

5 Beds

4.5 Baths

3,291 SqFt

Status Active

MLS # 6664214

Property Type Single Family Residence

Price Type --

This home truly has it all. The SLATE plan is for those who want everything in their new home. The primary bedroom, guest room, and home office are all downstairs. The kids retreat featuring three generous sized bedrooms and a spacious loft are upstairs. This Slate features a desert contemporary exterior with all of the contemporary upgrades on the interior. Features include a gorgeous gourmet kitchen, custom backsplash, satin nickel fixtures and hardware, wood-look tile in all the common areas, and granite countertops.

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4321 Sawbuck Way Wickenburg, AZ 85390

$623,595

3 Beds

2 Baths

1,828 SqFt

Status Active

MLS # 6770394

Property Type Single Family Residence

Price Type --

Flourish, Homestead, 2 bed 2 bath, Design materials and selections made personally by the talented Shea interior design team, Induction builtin appliance package, matte black accents throughout, heavy glass enclosure at primary bath, upgraded quartz counters at kitchen and both bath, custom designed mosaic tile at kitchen and both bath, cabinet pull outs and recycling with pull out drawers under cooktop, service door at garage, 15ft sliding wall of glass at living room, upgraded electrical throughout, over $23,000 in upgraded tile flooring throughout the house, 4ft garage extension, custom landscape and irrigation at front and back, under cabinet lighting at kitchen. Discover current incentives at Shea sales office.

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2300 E Concorda Drive Tempe, AZ 85282

$623,500

4 Beds

2 Baths

2,252 SqFt

Status Active

MLS # 6704841

Property Type Single Family Residence

Price Type --

This 4 bedroom, 2 bath large open great room floor plan includes many features: Open kitchen with massive island, lots of counter space, many cabinets, Huge diving pool, Extra large master bedroom, 3 walk in closets, updated bathrooms, corner lot, RV parking with slab and gate, large storage shed, covered patios, North/South exposure, amazing location - close to Freeways, ASU, MCC, Mesa & Tempe Schools, Banner Hospital and Fiesta Mall. Lots of great restaurants close by too! Thank you for showing!!!

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5415 W Pontiac Drive Glendale, AZ 85308

$623,000

4 Beds

2.5 Baths

2,439 SqFt

Status Active

MLS # 6684020

Property Type Single Family Residence

Price Type --

Excellent LOCATION in Arrowhead Lakes. Million-dollar homes in the neighborhood. Close to shopping. Elegant 4 bedrooms with master suite on the first floor and lake/mountain views from the second floor.

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2740 S Pleasant Place Chandler, AZ 85286

$623,000

4 Beds

3 Baths

2,350 SqFt

Status Active

MLS # 6744938

Property Type Single Family Residence

Price Type --

Fabulous 4 bedroom/3 bath home in the popular Chandler community of Carino Estates. Soaring ceilings & a beautiful wood staircase greet you as you enter. Formal living & dining rooms provide a perfect space for entertaining while the large family room is great for relaxation. Any chef would love the kitchen that boasts a plethora of upgraded cabinets, granite countertops with tile backsplash, pendant & recessed lighting, an island, breakfast bar and even a breakfast nook. The downstairs bedroom & full bath is a great space for guests. Upstairs you find the large master suite featuring a walk-in closet, separate tub & walk-in tiled shower, double sinks, his & hers closets & a sitting room that could double as an office or nursery. 2 additional bedrooms and another full bath can also be found upstairs. The back yard is a true private oasis with its covered patio, lush vegetation, large grassy yard & backing to the greenbelt so there are no neighbors directly behind. The 2-car garage and extended driveway provide plenty of parking and the RV gate leads to another concrete pad where you could park your toys. Located in a great community close to the 202 & 101 freeways and downtown Chandler with all its dining & shopping venues.

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5993 S Rockwell Court Gilbert, AZ 85298

$623,000

4 Beds

2 Baths

2,348 SqFt

Status Active

MLS # 6748295

Property Type Single Family Residence

Price Type --

Welcome this beautiful home in the highly sought-after Shamrock Estates! This single-story home is perfectly situated on a premium oversized lot that offers an abundance of privacy, backing up to a serene greenbelt. Located on a quiet cul-de-sac street with a small community park right behind, this home provides a peaceful and family-friendly environment. Boasting 2,348 square feet of thoughtfully designed living space, this 4-bedroom, 2-bath home includes a versatile den, perfect for a home office or additional guest room. The open great room layout is ideal for entertaining, featuring stunning granite countertops, upgraded cabinets, and stainless steel appliances. The low-maintenance backyard is perfect for relaxation and play, with a combination of pavers and grass. Located in a desirable neighborhood, Shamrock Estates is known for its excellent community atmosphere and proximity to top-rated schools, including Chandler Traditional Academy. Amenities include children's play area, basketball and volleyball courts, BBQ area and walking paths throughout the community. Don't miss out on the opportunity to own this exceptional home in one of the best locations in the area.

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7313 E Fillmore Street Scottsdale, AZ 85257

Open House

$623,000

4 Beds

2 Baths

1,841 SqFt

Status Active

MLS # 6762777

Property Type Single Family Residence

Price Type --

Well maintained single story home with great South Scottsdale location. Close to ASU and Old Town. The appealing interior boasts updated flooring, neutral paint, a welcoming living room, large eat-in kitchen with sliding glass door leading to back patio. Kitchen equipped with updated stainless steel appliances including new D/W, granite counters, ample cabinet space, a peninsula with breakfast bar. French doors of master leads to a spacious yard. Approximately 224 sqft Casita offers exercise room/ office. Large workshop shed only steps from RV Gate. Large side yard to store all your toys. New electrical house panel and cast in 2021. Insulation updated 2021. New Hot water heater 2023. Great Investment opportunity!

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22953 S 207th Place Queen Creek, AZ 85142

$622,830

4 Beds

3 Baths

2,309 SqFt

Status Active

MLS # 6740939

Property Type Single Family Residence

Price Type --

MLS#6740939 December Completion! The Cambridge at Ellsworth Ranch Landmark is a single-story floor plan offering 2,474 sq. ft. of living space with 4 bedrooms, 3 bathrooms, a 2-car garage, and an exercise/flex room. A welcoming porch greets you at the front of the house. Upon entering, the foyer leads you down a hallway with secondary bedrooms and 2 full bathrooms on one side and a laundry room on the other. Continuing straight, you'll arrive at the spacious, open kitchen, great room, and dining area—a space sure to capture your heart. Structural options include: garage service door.

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2730 Nelson Lane Chino Valley, AZ 86323

Open House

$622,462

3 Beds

2 Baths

2,076 SqFt

Status Active

MLS # 6776501

Property Type Single Family Residence

Price Type --

BRAND NEW I Quick Move-in 1 Acre Lot in Peaceful Heritage Pointe. Nestled in Chino Valley, just outside of Prescott! This charming community offers a haven for families seeking an exceptional living experience. The homes in this community are build on 1-acre homesites, so you and your family can enjoy privacy while taking in the picturesque atmosphere. Heritage Pointe offers 7 distinct floorplans, modern amenities, open-concept layouts with designer finishes. For those enjoying travel, opt for a floorplan that includes an RV Garage! You won't want to miss out; plan a visit with us today.

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17338 W Royal Palm Road Waddell, AZ 85355

New

$622,230

3 Beds

2 Baths

2,134 SqFt

Status Active

MLS # 6778324

Property Type Single Family Residence

Price Type --

December Move-In, RV 40ft Garage, plus 2-car garage, Large Lot, 3 Bedrooms, 2 Baths with Large Covered Patio, 42'' Derby Birch Cotton Cabinets, Brushed Flannel Quartz Countertops, Subway Tile Backsplash, Oceanside Cottage 6x36 tile with Bit of Gray carpet, Built-in LG Gourmet SS Appliances, Micro/Wall Oven, Gas cooktop, Laundry Cabinets with Sink, Barn Door at Master Bedroom, Interior Paint Faded Gray, Gas Stub at Patio, Soft Close Doors & Drawers, Security System, RV Dump, 10ft Double Gate, Large Drive way.

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7177 W Pontiac Drive Glendale, AZ 85308

$622,000

4 Beds

3 Baths

2,146 SqFt

Status Active

MLS # 6742966

Property Type Single Family Residence

Price Type --

MOTIVATED SELLER! ***PRICE REDUCED!! *** Welcome to your Beautiful Home in the HIGHLY desirable Lake Community of Sierra Verde in Arrowhead Ranch! OVER $100k in UPGRADES! This MOVE IN READY, NEWLY REMODELED 4-bed, 3-bath beauty offers a perfect blend of luxury and comfort. Features Include New Wood Tile Flooring, New 6-inch Baseboards, Newly Upgraded Bathrooms with Travertine Tile Floors, Showers w/Granite Counters & Custom Finishes. New Pool Equipment, Pebble Sheen Finish & Removable Pool Fence. Gourmet Kitchen with Granite Counters, Tile Backsplash, Stainless Steel Appliances, and a Convenient Coffee Bar. Freshly Painted in Neutral Tones Inside and Out! Ring Doorbell! Newer Hot Water Heater! The second floor boasts Engineered Wood Flooring & Designer Built Walk-in Closets Large yard with grass area and no homes directly behind for open feel and privacy! The epoxy-coated garage includes built-in cabinets, a workbench, and a new smart garage door opener. Refrigerator, washer, and dryer are included for your convenience. The community offers ample walking and biking paths, parks, and gorgeous lake views, while A+ Sierra Verde School is just a short walk away. Enjoy easy access to Thunderbird Conservation Park, Arrowhead Mall, P-83 shopping, dining, entertainment, and freeways for effortless commuting. With so many upgrades and a prime location, this home is an absolute must-see! Don't miss your chance to make it yours!

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6798 W Andrea Drive Peoria, AZ 85383

Open House

$621,990

3 Beds

2.5 Baths

2,051 SqFt

Status Active

MLS # 6722958

Property Type Single Family Residence

Price Type --

Turnkey READY NOW-North/South Exposure. Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'El Dorado' floorplan features 3 full bedrooms, 2.5 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes White Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 9' ceilings, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. *Photos of similar spec to show layout, options will vary*

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