#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.

#1 Answer to the Housing Shortage: New Construction | Simplifying The Market

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.

What’s Your Home Worth?

Search for Your New Home

18578 E Pine Barrens Avenue Queen Creek, AZ 85142

$599,900
4 Beds
2.5 Baths
2,931 SqFt
Status Active Under Contract
MLS # 6765313
Property Type Single Family Residence
Price Type --
Located in the popular Sossaman Estates bordering Gilbert/Queen Creek lies a spacious 2,931sf single-level home featuring an open floorplan and 10' ceilings! The home chef in you will love the double wall ovens, prep island with cooktop and breakfast bar, and abundant counterspace & cabinets. A breakfast nook w/bay windows, extra-large dining area, and built-in wine racks in the butler's area add to the appeal. Flow into the living room where French doors open to a large backyard with covered patio, patio pergola, mature landscaping, & spacious side yards with room for RV gate. The primary suite has 2 walk-in closets, exit to the backyard, garden tub, large shower, & dual vanities. Three large secondary bedrooms, a bonus room, & built-in workstations in the kitchen nook and hallway. Large laundry room with folding counter and plenty of storage throughout. Almost 1/3 acre corner lot with 2-car garage and slab parking for up to 4 vehicles. Close proximity to greenbelts, trails, shopping, restaurants, schools, and the 202 fwy.

3182 E Pineapple Road San Tan Valley, AZ 85143

$599,900
4 Beds
3.5 Baths
3,265 SqFt
Status Active Under Contract
MLS # 6739150
Property Type Single Family Residence
Price Type --
Don't miss the opportunity to make this better than new home yours! It shows just like a model home, with a transferable warranty, on plumbing, electrical, frame, and 9 year foundation warranty. This home was built in 2023, offers over $100k in upgrades, like a private pool and finished backyard. Boasting over 3200 square feet, 4 bedrooms, 3.5 bathrooms, a flex space, loft and separate den, this amazing home offers ample space for all your needs. Save yourself the time, money and headaches. The 3 car garage plus tandem garage ensures plenty of room for cars, toys or more storage. Don't miss out on this move in ready gem with a private pool. Come see for yourself how much space and all the upgrades this home has to offer!

10559 E Simone Avenue Mesa, AZ 85212

$599,900
3 Beds
3 Baths
2,024 SqFt
Status Active
MLS # 6773770
Property Type Single Family Residence
Price Type --
Beautiful home with POOL in Eastmark! Its charm starts with a manicured landscape, a 2-car garage, and paver front porch & driveway. You'll LOVE the desirable open layout, perfect for everyday living & gathering! Attention to detail is evident in the plantation shutters that grace the windows, complemented by soothing paint, tons of natural light, chic light fixtures, and wood-look & neutral tile flooring for easy maintenance. The gourmet kitchen boasts sleek SS appliances, granite counters, a pantry, subway tile backsplash, staggered white cabinetry, and an island w/breakfast bar. The main bedroom offers an ensuite with dual sinks, separate tub/shower, & a walk-in closet. Enjoy the entertainer's backyard with a sparkling pool, artificial turf, & an extended paver-covered patio! Just WOW!

1645 W Willetta Street Phoenix, AZ 85007

$599,900
3 Beds
2.5 Baths
1,550 SqFt
Status Active
MLS # 6747093
Property Type Single Family Residence
Price Type --
Nestled in the heart of the Phoenix Historic District, this enchanting 3-bedroom, 2.5-bathroom home combines timeless charm with modern elegance in a picturesque setting. From the inviting front porch to the remodeled interior, every detail exudes warmth and sophistication. Step inside to discover an airy and bright living space enhanced by a cozy fireplace and seamless flow from the kitchen and dining area into the great room. The primary bedroom, a serene retreat, features a walk-in closet and private access to a tranquil backyard. With ample storage and community perks including proximity to public transportation, this home offers a perfect blend of historic allure and contemporary comfort.

13370 W Domino Drive Peoria, AZ 85383

$599,900
2 Beds
2 Baths
1,926 SqFt
Status Active
MLS # 6766463
Property Type Single Family Residence
Price Type --
RARE 2021 'MOSAIC' WITH 3-CAR GARAGE! Neutral palette. Wide plank tile flooring, kitchen with granite slab on countertops & island, stainless appliances with 5 burners gas stove. Huge SMART SPACE with washer/dryer, 2 built-in desks, laundry sink, abundant cabinets with roll outs and WALK-IN PANTRY. Large open great rm with adjacent extended dining rm big enough for large table. Primary suite w/large walk-in closet, double sinks, large shower and separate toilet rm. Den with double French doors/multipurpose. Very spacious 2nd bed. Lovely, landscaped lot, full fenced yard. Upgraded lighting, fans and blinds throughout plus top-down/bottom-up shades in bedrooms. This home is in award-winning gated, 55+ Trilogy at Vistancia with 5-star-resort style amenities at the 35,000 SF Kiva Club with indoor & outdoor pools, fitness center, day spa, cafe, billiards, meeting rooms, library, tennis courts, pickle ball, bocce ball, events & a plethora of activities to choose from. Outstanding Gary Panks-designed golf course is woven throughout the original part of the neighborhood. The Mita Club has additional outstanding community amenities. Easy access from Trilogy to the 303, shopping, restaurants, entertainment, Lake Pleasant & Paloma Park, Peoria's huge community park loaded with amenities. Move-in ready!

24129 N 165th Lane Surprise, AZ 85387

$599,900
4 Beds
3 Baths
2,599 SqFt
Status Active
MLS # 6762704
Property Type Single Family Residence
Price Type --
Next Gen living at its finest in the master-planned community of Asante in Surprise. This exceptional residence features a unique Next Gen Suite with its own entrance, kitchenette, and living space—perfect for multi-generational living or a home office. The main home offers an inviting layout with 3 spacious bedrooms and 2 bathrooms, 10-foot ceilings and luxurious vinyl plank flooring throughout. The gourmet kitchen showcases white antique-style cabinets, stainless steel appliances, a gas range, and a generous walk-in pantry. The great room features a faux whitewashed block wall and double sliding doors capturing natural light in from the backyard. The owner's suite is accented with a charming shiplap wall, private access to the backyard, walk-in closet and a beautifully appointed en-suite bathroom with dual sinks, granite countertops, and a tiled walk-in shower with rain shower head. Two additional bedrooms share a guest bathroom with granite counters and a tub/shower combo. The Next Gen Suite offers a private setup complete with a kitchenette that includes a full-size refrigerator, dishwasher, maple spice cabinets, and a conventional microwave. The living and dining area leads to a bedroom, walk-in closet with washer and dryer hook-up, plus a bathroom making it ideal for accommodating parents, adult children, guests or workspace. Additional highlights include the Puragain water purification and softener system and reverse osmosis. The backyard oasis is perfect for outdoor gatherings or relaxation, featuring a covered patio, extended pavers, and low-maintenance synthetic grass. Come tour this Next Gen home today!

108 W Villa Rita Drive Phoenix, AZ 85023

$599,900
5 Beds
3.5 Baths
2,336 SqFt
Status Active
MLS # 6753499
Property Type Single Family Residence
Price Type --
Come see this FURNISHED 5 bedroom, 3.5 bath REMODELED home located in a quiet North Phoenix neighborhood . This home is nearly 2400 sq ft and features 2 Master Bedrooms both with ensuite bathrooms, perfect for a large family, multi-generational families or an Airbnb. No HOA. The home is currently a successful Airbnb with amazing reviews. Beautiful pool in the backyard features a built in table. The garage is oversized for additional storage or a home gym. Home is centrally located just min away from the 101 Freeway for an easy commute.

2783 E Tulsa Street Chandler, AZ 85225

$599,900
3 Beds
2 Baths
1,913 SqFt
Status Active
MLS # 6737708
Property Type Single Family Residence
Price Type --
PRICE IS MORE THAN $20,000 UNDER RECENT APPRAISAL!! Tour this gorgeous, RECENTLY RENOVATED, SINGLE STORY Chandler home today! Nestled directly between Downtown Gilbert & Downtown Chandler (less than 10 minutes to each), you'll be surrounded by endless dining & shopping options, plus almost-daily local events & activities~ This home was remodeled with entertainment in mind, boasting a thoughtfully designed layout w/a TRUE SPLIT FLOOR PLAN, featuring 3 BEDROOMS, including a LARGE PRIMARY SUITE w/a direct access to the backyard, an UPDATED ENSUITE BATHROOM & SPACIOUS PRIMARY CLOSET~ 2 large guest bedrooms complete the home, w/one showcasing a CUSTOM SHIPLAP WALL & the other featuring added BOOKSHELF STORAGE~ The home offers 2 FULLY UPDATED BATHROOMS, including a RENOVATED MASTER BATHROOM with a CUSTOM GLASS SHOWER with RAINFALL SHOWER HEAD, and a FREESTANDING TUB~The UPDATED KITCHEN features a SOLID STONE ISLAND that opens to the living space, HIGH-END APPLIANCES like a 5-BURNER KITCHENAID OVEN and a MONOGRAM MINI DRINK FRIDGE, plus a BREAKFAST NOOK with shutters overlooking the beautifully landscaped backyard~ Open the SLIDING GLASS DOORS from your living room, and an entertainer's LUXURY BACKYARD awaits, with a partially covered patio equipped with an OUTDOOR HEATER for all-season enjoyment~ Invite your friends over for backyard movie nights with an OUTDOOR MOVIE SCREEN and PROJECTOR. Backyard also features over 800 SQ FT OF PAVER PATIO AND WALKWAYS with lighting, over 350 SQ FT OF ARTIFICIAL TURF, IRRIGATED GARDEN BEDS, MATURE TREES, and NATIVE PLANTS, with NO NEIGHBORS BEHIND for added PRIVACY~ Additional highlights of the home include CEILING FANS in all rooms, an open layout with unobstructed views from the kitchen to the living and dining areas (or flex space), DUAL-PANE WINDOWS with CUSTOM SHUTTERS opening to the backyard, front yard, and side yards~ The home boasts HIGH-END PORCELAIN WIDE-PLANK WOOD FLOORS, along with a NEMA 14-50 plug for EV CHARGING in the garage, a TANKLESS WATER HEATER, AUTOMATIC GARAGE DOOR OPENERS, a WATER SOFTENER, and a freshly REPAINTED EXTERIOR in 2024 (5-YEAR WARRANTY)~ Further improvements in 2024 include home being COMPLETELY REWIRED to be brought up to current safety standards, AIR DUCT CLEANING, and installation of an AIR PURIFIER and SCRUBBER for optimal indoor air quality~ The neighborhood is surrounded by FOUR LARGE PARKS and green spaces, with a playground right across the street~ Conveniently located less than a mile from Fry's Food & Drug, you're also just minutes from Trader Joe's, Target, Whole Foods, Sprouts, and other popular grocery options~ SAN TAN VILLAGE MALL is approximately a 7-minute drive~ Part of the CHANDLER SCHOOL DISTRICT, this home is only two blocks from CHANDLER TRADITIONAL ACADEMY - LIBERTY CAMPUS, with easy access to Gilbert, AZ, across the intersection~ This exceptional property offers an unbeatable location, thoughtful upgrades, and a welcoming atmosphere!

25817 N Bolero Bend Rio Verde, AZ 85263

$599,900 - 2Br/2Ba -  for Sale in Rio Verde, Rio Verde
Open House
$599,900
2 Beds
2 Baths
2,205 SqFt
Status Active
MLS # 6762128
Property Type Single Family Residence
Price Type --
Calling all investors and buyers looking for a bargain in the vibrant adult community of Rio Verde! Priced to sell and below market so you can reap the benefits of this fabulous property with tons of potential and equity! Spacious corner lot, this property offers a spacious backyard complete with a wonderful patio area & your own pool. Both bedrooms offer their own baths, while an additional flex space is perfect for an office, roomy sitting area, or home gym. The formal living and dining areas seamlessly flow into the generous kitchen, which boasts ample cabinet space and an inviting eat-in area. With a 2.5-car garage, there's plenty of room for your golf cart and extra storage. As a social member of the Rio Verde Country Club, you'll enjoy a wealth of activities; tennis, pickleball, bocce ball, and a community gym and pool. This is an excellent opportunity to create your own unique sanctuary while living the Rio Verde lifestyle!

3554 N Hooper Street Buckeye, AZ 85396

$599,900 - 4Br/3Ba -  for Sale in Verrado Parcel 4.801, Buckeye
Open House
$599,900
4 Beds
3 Baths
2,590 SqFt
Status Active
MLS # 6720288
Property Type Townhouse
Price Type --
Don't miss out on this golf course home with views!! Buy now before prices go up with lower rates. This elegant and upgraded 4 bedroom 3 bath home backs up to Hole #4 of Founder's Golf Course. Back gate to access the course whenever you see fit from your relaxing pergola covered back yard with outside fireplace. HOA takes care of the front yard (except court yard), has a community pool a short distance away. Phenomenal mountain views from your back yard and private balcony off of the owners suite, going back inside you will appreciate lots of kitchen cabinet storage and granite counter tops, small office space off the kitchen for those that work from home, cozy fireplace, bedroom or full office downstairs with full bath large laundry room with additional under stair storage, going upstairs is an additional 3 bedrooms and 2 baths, large owners suite and bath with very large walk in closet, tub in owners bath with window looking out over mountains, freshly painted on the interior about 1.5 years ago, large 2 car garage with extra height with dual storage racks, also could make a great winter home lock and leave style, or a vacation home to allow you to escape to Arizona, located in larger community of Verrado which is a very kid and animal friendly oriented community that has tons to do with pools, events on weekends, sidexside parades, firework show and yes of course golf. Come see Verrado and see what it has to offer.

41432 N Bent Creek Way Phoenix, AZ 85086

$599,900 - 3Br/2Ba -  for Sale in Anthem Unit 50, Phoenix
Open House
$599,900
3 Beds
2 Baths
2,082 SqFt
Status Active
MLS # 6750950
Property Type Single Family Residence
Price Type --
Welcome to this beautifully remodeled gem in the Anthem Golf and Country Club. Step inside to an open, airy layout with high ceilings and abundant natural light. The spacious living area shines with fresh, contemporary finishes and elegant touches throughout. The kitchen is a standout, featuring an expanded quartz countertop with a bar perfect for quick meals, along with extra cabinetry beneath the island and a large pantry for added convenience. Champagne-toned fixtures and cabinet knobs give the space a touch of modern luxury. Retreat to the master suite, a private haven with a spa-like en-suite bathroom. Enjoy a serene wood-finish vanity, sleek white quartz tiles, a soaking tub for relaxation, and a walk-in shower with modern fixtures. Dual vanities with wood-finish cabinets and a generous walk-in closet offer both style and storage. Located in the desirable Anthem Golf and Country Club community, this home offers access to the nearby Ironwood Golf Course and restaurant, along with top-rated schools, parks, and a wide range of recreational amenities. This friendly neighborhood has activities for all ages. Don't miss the chance to own this stunning home in Anthem's exclusive gated community. Come see for yourself the perfect blend of luxury and comfort!

12737 W Auburn Drive Peoria, AZ 85383

$599,900 - 2Br/2Ba -  for Sale in Trilogy At Vistancia Parcel C12, Peoria
Open House
$599,900
2 Beds
2 Baths
1,798 SqFt
Status Active
MLS # 6729974
Property Type Single Family Residence
Price Type --
Beautiful gently lived in 2-bedroom plus den property. Check out & fall in love with the large great room featuring tile flooring and plantation shutters. Spotless kitchen displays mosaic tile backsplash, recessed & pendant lighting, staggered cabinets & cupboards with crown molding ,stainless steel appliances, granite counters, and equipped with a roomy breakfast bar. Generous laundry room with plenty of cabinets and desk area .Make the sizable den a reading nook or bar area. In the bright primary bedroom, you will find plush carpet, a private bathroom with dual sinks, an enclosed glass shower, and a walk-in closet. Entertainers delight in the spacious backyard provides a covered patio, fire pit, and a built-in BBQ and hot tub. Shea Xero 20 year pre paid solar. Energy savings!!

Leave a Reply

Your email address will not be published.