#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.

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6487 Tall Pine Drive Pinetop, AZ 85935

$598,000
3 Beds
3 Baths
1,456 SqFt
Status Active
MLS # 6724701
Property Type Single Family Residence
Price Type --
THRIVING Current Airbnb! Nestled in the serene woods of the Pinetop Lakes Golf and Country Club, this charming cabin offers the perfect blend of rustic elegance and modern comfort. Whether you are looking for a Family Cabin, Full Time Living, or Airbnb Investments this Home is Fully furnished and ready for you to move in—just bring your toothbrush! This delightful home features 3 spacious bedroom split floorplan and 3 full bathrooms, providing ample space for family and friends. The inviting open-concept living area boasts cozy furnishings and a warm fireplace, ideal for relaxing after a day of outdoor adventures. The well-equipped kitchen includes all the essentials, ensuring you have everything you need to prepare delicious meals. Each bedroom is tastefully decorated and designed for comfort, offering a peaceful retreat at the end of the day. Step outside to enjoy the breathtaking natural surroundings from the deck perfect for morning coffee or evening gatherings. Located in the desirable Pinetop Country Club area, this cabin offers access to a range of recreational activities and amenities. Don't miss the opportunity to own this beautiful cabinyour dream mountain getaway awaits!

3100 W Frankfurt Drive Chandler, AZ 85226

$598,000
5 Beds
3 Baths
2,372 SqFt
Status Active
MLS # 6744740
Property Type Single Family Residence
Price Type --
AMAZING LOCATION in one of the best cities to live in! Your family will love this 5 bedroom 3 bath home with a gorgeous deck off the Primary bedroom. With NO NEIGHBORS BEHIND, you will truly enjoy the serenity here. ALL NEW ENERGY EFFICIENT WINDOWS, NEW WATER HEATER and the HVAC & AIR HANDLER is 3 YEARS NEW!! Lots of natural light to enjoy the chef's kitchen with granite counters and SS appliances and so much storage. 3 bedrooms Upstairs with beautiful wood floors. Downstairs has 2 bedrooms and a living room with a fireplace, so many spaces to enjoy. Step outside and entertain or relax in your private, tranquil backyard under the stars or have drinks and conversations in the gazebo & ramada. Close to all things in Chandler!!

6027 N 10th Street Phoenix, AZ 85014

$598,000
3 Beds
2 Baths
1,570 SqFt
Status Active
MLS # 6748121
Property Type Single Family Residence
Price Type --
This newly remodeled gem has been re-designed to create a modern floor-plan featuring Luxury Vinyl Flooring, a new kitchen with lovely cabinetry, quartz countertops, and stainless-steel appliances. The bathrooms are fully updated with new vanities, lighting, and tile. The front living room boasts a cozy wood-burning fireplace and the entire home, inside & out, has been freshly painted. Enjoy enhanced comfort with new LED lighting and ceiling fans throughout. The landscaped yard includes mature shade trees, flowering bushes, and private courtyard with hassle-free watering system plus a large side yard perfect for your furry friend. Located in the coveted Madison School District within walking distance to the ''A'' Rated Rose Lane Elementary and Madison Traditional Academy.

321 W Palo Verde Street Gilbert, AZ 85233

$598,000
4 Beds
3 Baths
2,090 SqFt
Status Active
MLS # 6759949
Property Type Single Family Residence
Price Type --
**Distinctive character and unique SW design on preferred N/S lot ideally situated close to downtown Gilbert!!**Beautifully updated 4 bedrooms with private bath off guest room + additional bonus/media room.**Practical stained concrete flooring throughout, freshly painted with newer light fixtures and ceiling fans and gas fireplace.**Well-planned kitchen with Brazilian Quartzite countertops, custom cabinetry, huge island/breakfast bar & double French patio doors.**Additional amenities include RV gate w/concrete pad, sliding barn door in master suite, stackable washer & dryer, reverse osmosis, soft water and refrigerator!!**Private backyard with no rear neighbors, extended covered patio, shed and lush, mature landscaping.**

2644 Leisure World -- Mesa, AZ 85206

$598,000 - 3Br/2Ba -  for Sale in Leisure World Plat 25 Lot 2605-2710 Tr A-f, Mesa
Open House
$598,000
3 Beds
1.5 Baths
1,843 SqFt
Status Active
MLS # 6775796
Property Type Single Family Residence
Price Type --
Great home in cul-de-sac, 3 car garage with large storage room off of garage. This home is unique, large lot, fenced backyard and lots of privacy, it is a Barcelona Floorplan that has been opened up to a great room with a beautiful kitchen. Primary bedroom has a large room built on that can either be an office, craft room, TV room, converted to a walk in closet or many other choices. Primary bath has been increased to add a jacuzzi soaker tub, separate shower and large vanity. Laundry has been moved to primary bathroom. Tile floors throughout. All this in the Premiere Active Adult Community of Leisure World with 36 holes of private golf, new tennis complex, pickle ball, swimming pools, library, state of the art fitness center, theater, arts and crafts, billiard room, and much more!

889 W Saddle Run Apache Junction, AZ 85120

$597,990
4 Beds
3 Baths
2,375 SqFt
Status Active
MLS # 6776097
Property Type Single Family Residence
Price Type --
Welcome to Blossom Rock! The east valley's newest master planned community. With views of the Superstition Mountains and a wealth of amenities currently in the making including three community parks, dozens of neighborhood parks, a community school, miles of trails, beautiful lakes, and indoor and outdoor gathering spaces all meant to serve as the backdrop of the calendar of signature events and annual celebrations currently being created.

16699 W Saguaro Park Lane Surprise, AZ 85387

$597,990
4 Beds
3 Baths
2,545 SqFt
Status Active
MLS # 6770961
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. The Gardengate floorplan offers 4 bedrooms, 3 baths, a garage extension, and 8' interior doors. Notable features include built-in appliances, granite kitchen countertops, a gas stub in the kitchen, a backyard perfect for BBQs, and a gas dryer connection in the laundry.

27242 W Wahalla Lane Buckeye, AZ 85396

$597,700
2 Beds
2 Baths
2,092 SqFt
Status Active
MLS # 6776160
Property Type Single Family Residence
Price Type --
A FULLY FURNISHED, TURNKEY DESTINY MODEL WITH OWNED SOLAR & 3 CAR GARAGE SITUATED ON A PREMUIM GOLFCOURSE, LAKE FRONT LOT! Enter the front courtyard which leads to the open concept floorplan w/ tile plank flooring and neutral palette. The living/dining room boasts a custom stacked stone media wall & panoramic views of the of the course. The dine-in kitchen features a huge center Island, granite counters, custom tile backsplash & breakfast bar. Master Suite is complete w/sep tub/shower, dual sinks & large walk-in closet. Second bedroom & a den on the opposite side of the home provide privacy for guests.The laundry room offers lots of cabinets & utility sink. Enjoy outdoor living on the extended covered patio overlooking the stunning water fountain on this award winning golf course.

21354 E Sparrow Drive Queen Creek, AZ 85142

$597,594
4 Beds
3 Baths
2,405 SqFt
Status Active
MLS # 6753924
Property Type Single Family Residence
Price Type --
Welcome to this stunning home in Ascent at Jorde Farms, filled with numerous upgrades! Inside, you'll find a gourmet kitchen featuring designer cabinets, quartz countertops, and Whirlpool stainless steel appliances. The open-concept great room offers the perfect space for gatherings. The private primary bedroom includes an ensuite bath and a spacious walk-in closet. This home boasts 3 bedrooms, 3 full baths, upgraded paint, flooring, and more! Enjoy the charming porch and become part of the inviting Ascent at Jorde Farms community, which plans to offer a pool, walking paths, and parks. With great restaurants and shopping nearby, your dream home awaits! Welcome home!!

7637 E Chaparral Road Scottsdale, AZ 85250

$597,500 - 2Br/2Ba -  for Sale in Villa Monterey 4, Scottsdale
New
$597,500
2 Beds
2 Baths
1,700 SqFt
Status Active
MLS # 6777379
Property Type Townhouse
Price Type --
Charming Mid-Century Modern Home with Expansive Upgrades. Welcome to your perfect blend of modern comfort and classic mid-century charm! This beautifully updated one-story home is located in a highly desirable Scottsdale 55+ neighborhood, offers a sophisticated lifestyle wrapped in understated elegance. Stylish Interiors Step inside to find an open-concept great room filled with natural light, featuring neutral tones and contemporary finishes that create a warm, inviting atmosphere. The spacious family room flows seamlessly into the dining area and kitchen, perfect for entertaining. Large sliding glass doors lead to the lush backyard, enhancing the indoor-outdoor Arizona lifestyle. The gourmet kitchen is a chef's dream, equipped with gleaming granite countertops, custom wood cabinets Relaxing Bedrooms and Luxurious Baths The home boasts two generously-sized bedrooms, each with updated flooring and custom window treatments. The primary suite offers an expansive retreat with access to the backyard, and it includes a sleek, spa-inspired ensuite bath. The bathrooms have been upgraded with high-end fixtures, frameless glass showers, and stylish vanities, providing an elevated sense of comfort. Outdoor Living at Its Best The spacious backyard is a private oasis, featuring lush artificial turf and mature trees that provide plenty of shade and privacy. Enjoy the extended covered patio, perfect for hosting gatherings or simply unwinding with a good book. A modern epoxy-coated two-car carport offers ample parking, and the front of the house features tasteful xeriscaping, providing a low-maintenance, yet attractive curb appeal. Upgrades Galore This home includes numerous recent upgrades, including modern ceiling fans, updated lighting throughout, a spacious laundry and storage room, and quality flooring in every room. Every inch of this home has been thoughtfully designed to maximize comfort and style. Don't miss this opportunity to own a piece of Scottsdale paradisea property that perfectly embodies the spirit of modern Arizona living, offering a comfortable and stylish retreat while being close to all the amenities and entertainment the city has to offer. Location, Location, Location Beyond the property's attractive features, its location is second to none. Nestled just minutes away from Old Town Scottsdale, residents can enjoy a diverse array of world-class shopping, dining, and entertainment options. Scottsdale Fashion Square, with its upscale shops, is just around the corner, while a variety of local restaurants, cafés, and nightlife venues provide endless opportunities for leisure and enjoyment. Chaparral Plaza and The Shops at Hilton Village offer additional shopping and dining conveniences nearby. Whether you're in the mood for an afternoon of boutique shopping or an elegant evening out, everything is right at your doorstep.

25325 N Naples Street Paulden, AZ 86334

$597,500
3 Beds
2 Baths
1,980 SqFt
Status Active
MLS # 6700936
Property Type Single Family Residence
Price Type --
Two parcels are seamlessly merged together to equal a total of 9.795 acres. Nestled on sprawling acreage, this picturesque single family home offers an idyllic retreat enveloped by panoramic mountain vistas. Offering 3 bedrooms and 2 bathrooms, this charming residence exudes warmth and character. The inviting living room features a cathedral ceiling adorned with rustic beams, accentuating the space and charm. A wood-burning fireplace with exquisite Mexican brick infuses the room with cozy ambiance for chilly evenings. The ornate front door welcomes guests, while new storm doors on both the front and back entrances providing weather resistance. Recent upgrades include a new air conditioning and heating unit, new windows, and fresh exterior paint, ensuring modern comfort and aesthetic appeal. The home and its accompanying three-car garage, complete with storage and workbenches, boasts new roofs, offering peace of mind and longevity. A newly installed gravel driveway with gated entrance leads to the residence, which sits back a quarter-mile, offering unparalleled privacy and tranquility. The landscaped grounds boasts a variety of trees, including elm, mondell pine, Arizona cypress, juniper, purple robe locus, Arizona ash, locus and chase. Fruit trees, include apple, plum, mulberry, and Arizona walnut, creating a serene oasis. The driveway is flanked by majestic pine trees, while automatic irrigation ensures lush greenery thrives. Additional amenities include a shed, well house, chicken coop, and greenhouse with two garden beds with carrots, sweet potatoes, celery and basil. A fenced and cross fenced perimeter, complete with chain link and wire fencing, ensures security and functionality, while an interior yard with wire fencing and gates offers versatility. Great for children and the family pets. Outdoor enthusiasts will delight in the covered back patio, perfect for al fresco dining, and rustic red barn with four stalls, corrals and turnouts. A horseman's paradise with room to expand. A 10x16 concrete and block patio with redwood railing off the dining area provides a serene spot to admire the breathtaking sunsets to the west. With one RV hook-up equipped with 30 amp, power, water, and sewer access, the additional RV hook-up has 30 amp, power and is near water. This property offers endless possibilities. Update this home to your own personal style. Enjoy the relaxation and recreation of this beautiful property! Parcel numbers: 304-01-032A and 304-01-032B, both parcels combined are being sold at the list price.

13618 N 18th Street Phoenix, AZ 85022

$597,500
3 Beds
2 Baths
1,732 SqFt
Status Active Under Contract
MLS # 6691948
Property Type Single Family Residence
Price Type --
PREMIUM single story custom built property with UPDATES galore. Features include: spacious open floorplan with vaulted ceiling, granite countertops, tumbled travertine and wood flooring, custom kitchen cabinetry, remodeled baths, solid core doors, security doors at front/back, enclosed additional patio space off kitchen, low maintenance front yard landscape, gorgeous mature backyard landscape and more. Welcome home!

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