#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

21864 E Saddle Court Queen Creek, AZ 85142

$614,995

3 Beds

2.5 Baths

2,500 SqFt

Status Active

MLS # 6730732

Property Type Single Family Residence

Price Type --

The single-story Cassandra plan showcases an open layout with a great room with a multi-sliding glass door, a breakfast nook, a large gourmet kitchen and a 2-car garage. The primary suite is adjacent, and boasts a generous walk-in closet and an attached bath with a large walk-in shower. Two additional bedrooms flank a full bath, and the nearby study.

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24006 N 171st Drive Surprise, AZ 85387

$614,995

4 Beds

3.5 Baths

2,844 SqFt

Status Active

MLS # 6678786

Property Type Single Family Residence

Price Type --

Welcome Home! Darius plan provides a sophisticated and accommodating plan for livability that checks all the boxes on your wish list. In addition to a lavish owner's suite—with a roomy walk-in closet and attached double-sink bath—this home includes a second owner's suite with an adjacent living room, perfect for multi-generational living. You'll also enjoy a 3-car garage, a study, a great room with a covered patio featuring a multi slide door to bring the outdoor living indoors. Inviting gourmet kitchen with a generous island, dining nook for all entertaining gatherings! Airy 10 ft ceilings ,desired jack and jill bathrooms and so much more! This is a must see!

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21873 E Saddle Court Queen Creek, AZ 85142

$614,995

3 Beds

2.5 Baths

2,500 SqFt

Status Active

MLS # 6731525

Property Type Single Family Residence

Price Type --

The single-story Cassandra plan showcases an open layout with a great room with a multi-sliding glass door, a breakfast nook, a large gourmet kitchen and a 2-car garage. The primary suite is adjacent, and boasts a generous walk-in closet and an attached bath with a large walk-in shower. Two additional bedrooms flank a full bath, and the nearby study.

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37750 W Padilla Street Maricopa, AZ 85138

$614,990

4 Beds

3.5 Baths

2,024 SqFt

Status Active

MLS # 6762739

Property Type Single Family Residence

Price Type --

Move in FAST to this completed home! Say hello to luxury, Maricopa! This captivating Flagstaff floorplan features an expansive great room, Media room, Extra Suite with kitchenette, and stunning kitchen appointed with stacked cabinetry, gas stove top, and double ovens! Relax in your Primary suite and resort like bath with freestanding tub. The great room and adjacent patio are ideal for hosting gatherings. The tandem 4 car garage is perfect for storing offroad toys! With 10ft ceilings, 8ft doors, and 8,750 sq ft homesites, come see why K. Hovnanian is the First Name in Lasting Value! ^^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

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16711 W Saguaro Park Lane Surprise, AZ 85387

$614,990

4 Beds

3.5 Baths

2,664 SqFt

Status Active

MLS # 6767427

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 3% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. This Parklane floorplan offers 4 bedrooms, 3.5 baths, a garage extension, and a glass no-step walk-in shower. Notable features include 8' interior doors, built-in appliances, granite kitchen countertops, and gas stubs in the kitchen, backyard for BBQ, and laundry for a gas dryer.

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32018 N 117th Avenue Peoria, AZ 85383

$614,990

4 Beds

3 Baths

2,012 SqFt

Status Active

MLS # 6755506

Property Type Single Family Residence

Price Type --

Larkspur - 4 bed/3 full baths. Stainless steel gas appliance package with 36'' cooktop, wall oven, microwave, glass canopy hood. Sonoma Maple Linen-off white cabinets with black hardware, 42'' kitchen uppers. Upper and lower cabinets at owner's entry, and cabs in laundry room. AZT Steel gray granite tops in kitchen and all baths. Upgrade flooring - Mohawk Wood laminate Driftwood in all areas except beds & closets and so much more. Amenity Rich Mystic includes a Resort Style community pool, Rec center with year-round events, Hiking paths & community parks. The perfect location- close to shopping, restaurants, golf, Lake pleasant and the loop 3. PHOTOS OF THIS LISTING ARE OF THE CLOVER MODEL HOME.

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3043 E Rose Lane Phoenix, AZ 85016

$614,900

2 Beds

2 Baths

1,185 SqFt

Status Active

MLS # 6696353

Property Type Townhouse

Price Type --

This charming, newly renovated 2 bed, 2 bath townhome is situated on the prestigious Biltmore golf course and offers amazing views and amenities. The kitchen opens to the family room overlooking the patio and course. The bedrooms and baths are separated offering privacy. The community offers a swimming pool, spa, guard gate and tennis court. Plenty of room for parking between the single private garage and the covered public one.

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21225 W Wilshire Drive Buckeye, AZ 85396

$614,900

4 Beds

2.5 Baths

2,322 SqFt

Status Active

MLS # 6713534

Property Type Single Family Residence

Price Type --

Picture yourself enjoying the fall sunsets on your private patio next to your heated pool, perfect for entertaining family and guests, or maybe just your own quiet time This stunning 4-bedroom, 3-bathroom gem with a den features a modern design and an open floor plan, perfect for both family life and entertaining. The gourmet kitchen is a chef's delight, boasting contemporary appliances, a large island, sleek tile backsplash, quartz countertops, and ample cabinetry. Step outside to your private oasis with a fully landscaped yard and a luxurious heated pool, perfect for year-round enjoyment. The home also offers a three-car tandem garage, solar system for energy savings, and double gates to conveniently park your toys. Nestled on a desirable corner lot, this home is an absolute must-see

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907 E Rose Lane Phoenix, AZ 85014

$614,900

3 Beds

3 Baths

1,553 SqFt

Status Active

MLS # 6740547

Property Type Single Family Residence

Price Type --

Welcome to this charming, custom-remodeled home, in the heart of North Central. Completely transformed in 2016, this residence has impeccable upgrades, making it move-in ready. Step inside to beautiful flooring throughout, featuring a mix of carpet and wood tile. The home is bathed in natural light, thanks to the dual-paned windows. The heart of the home, the kitchen, is a chef's dream with stainless steel appliances, granite countertops, new lighting, and custom Shaker-style cabinets. It opens to a spacious family room, complete with a cozy fireplace and dual doors leading to the expansive backyard. The primary suite features a large walk-in closet, a recently updated three-quarter bath, and an additional secondary closet for extra storage. The large backyard is perfect for entertaining, with plenty of grassy space, a fire pit, and a 10x8 standalone storage unit. Parking is a breeze with a two-car carport and additional slab parking for up to four cars. Located with easy access to top Valley schools, popular restaurants, and shopping, this home offers the perfect balance of convenience and charm. Don't miss your chance to live in a neighborhood that everyone loves to call home.

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7807 E Mckinley Street Scottsdale, AZ 85257

$614,900

4 Beds

2 Baths

1,590 SqFt

Status Active

MLS # 6768199

Property Type Single Family Residence

Price Type --

Welcome to your dream home! Step inside to discover a beautifully crafted interior featuring chic wood-look floors and a bright great room that invites warmth and relaxation. The sleek kitchen is a culinary delight, boasting a plethora of cabinets, stainless steel appliances, a stylish tile backsplash, ample counter space, and a convenient breakfast bar for casual dining. Retreat to the main suite, which offers direct access to the serene backyard, a private bathroom, and a spacious walk-in closet. Plus, washer and dryer are included for your convenience! The tranquil backyard is your personal oasis, complete with a covered patio, artificial turf, and plenty of space for fun barbecues and gatherings. Don't miss this opportunity! Come and make it yours today!

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3948 E Gold Mountain Avenue San Tan Valley, AZ 85143

New

$614,857

4 Beds

3 Baths

3,146 SqFt

Status Active

MLS # 6776756

Property Type Single Family Residence

Price Type --

Enchanting new home featuring designer selections, a split floor plan, and north/south exposure. Located in Bella Vista Farms, homeowners have access to their community pool and playground. The kitchen boasts a GE Executive kitchen appliance package including double ovens and a gas cooktop, there are also Delta Terra Quartz Zinc countertops and Aristokraft 42'' cabinets in Benton White. Other highlights in the home include a frameless walk-in shower at the primary suite and Vicinity White 6 x 36 Matte Wood like tile flooring. Utilities for this home include: Mesa Gas, EPCOR Water, and Rural Metro.

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17728 N Deer Trail Maricopa, AZ 85139

$614,500

4 Beds

3 Baths

1,940 SqFt

Status Active

MLS # 6735874

Property Type Manufactured Home

Price Type --

This 2.49 acre property in Hidden Valley has it all! This gorgeous MOVE-IN READY home is just over 1900 sq ft. Western style property inside and out! The home features 4 bedrooms and 3 full bathrooms, and formal dining. Split floor plan with the main bedroom opening to an en-suite bathroom. Full length parking stalls along the side of the home. The property has a fully finished workshop & chicken coop equipped with a misting system. No HOA, shared well, fully fenced with GORGEOUS MOUNTAIN VIEWS and only minutes from city amenities! Bring your horses & make this home yours today. Truly a must see!

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