#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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1326 N Central Avenue Unit 413 Phoenix, AZ 85004

$599,000
2 Beds
2 Baths
1,491 SqFt
Status Active
MLS # 6756296
Property Type Apartment
Price Type --
Prepare to be blown away as you step inside this incredible, multi-level loft that encompasses a chic modern/industrial charm around every corner. Polished concrete floors, open-concept living, soaring ceilings and a bold black metal staircase are just a few of the standout features in this property. The living area includes a built-in Sonos system as well as a beautiful custom art piece that truly accentuates the space. The European style kitchen has Gaggenau stainless steel appliances (with a built-in grill) and sleek red cabinetry. The adjacent dining area, with its modern lighting from Crate and Barrel, offers expansive west-facing views—perfect for watching breathtaking sunsets. Just steps from the primary bedroom, you can find a private rooftop balcony with panoramic views of the city. Plenty of room to entertain or cozy up and watch the sun go down. This urban oasis is a rare find, offering unique design, modern finishes, and unforgettable sunsets.

2101 N Normal Avenue Tempe, AZ 85288

$599,000
3 Beds
2 Baths
1,513 SqFt
Status Active
MLS # 6753795
Property Type Single Family Residence
Price Type --
Newly remodeled home with fresh interior paint and new front landscaping!Fresh blue exterior paint, dual pane windows, and recent plumbing and electrical updates.Beautiful wood flooring throughout the home, recessed lighting, barn doors, and TWO entertainment rooms await you inside. Large shaker cabinets w/crown molding, granite counters, stainless steel appliances, custom tile backsplash, & a center island w/breakfast bar. The covered patio and fire-pit is the ideal place for all your gatherings under the vast Arizona sky. Located in a quiet neighborhood just minutes from Old Town Scottsdale, ASU, the Entertainment District! This property qualifies for 1% lender credits available to a qualified buyer! If not already working with another lender, please see the lender flyer in docs tab f

1947 E Pebble Beach Drive Tempe, AZ 85282

$599,000
3 Beds
2 Baths
1,902 SqFt
Status Active Under Contract
MLS # 6712576
Property Type Single Family Residence
Price Type --
Location location location. Take a look at this beautifully maintained home with NO HOA a POOL and SPA! Brand new AC unit, newly painted, Updated kitchen, upgraded windows, pebble tech pool, Plantation shutters the list goes on! Perfectly located near the 101 and the 60. This home is 10 minutes from downtown Tempe/ASU, 15 min from downtown Scottsdale. Come take a look!

5420 S Whispering Sands Drive Casa Grande, AZ 85193

$599,000
3 Beds
2 Baths
2,280 SqFt
Status Active
MLS # 6761818
Property Type Manufactured Home
Price Type --
Explore this expansive 4.55-acre property that is entirely fenced with an automatic main gate entry! Discover a charming Santa Fe-style home with a welcoming covered front porch. The interior showcases a delightful open layout with a contemporary design, a warm palette, and soft carpeting throughout the main living spaces and bedrooms. A large kitchen with modern title flooring, abundant counter space, wood cabinetry with crown moulding, pendant and recessed lighting, SS appliances, a walk-in pantry, a kitchen island, and a breakfast bar. Whether you are enjoying a casual meal in the dining area or relaxing with the family in the living room, this inviting home will not disappoint! The primary bedroom includes plenty of windows for ample natural lighting, an ensuite bathroom with a garden tub, large separate shower, dual vanities, and a walk-in closet. The remaining bedrooms share a hall bathroom with stylish fixtures. Laundry room inside. Washer and dryer convey. The expansive backyard boasts a refreshing pool and stunning mountain views. Relax in the saltwater pool surrounded by beautiful landscaping. The rear of the property borders state trust land. Next to the house is a 2,450 sq ft steel building with a 10,000 lb vehicle lift that provides the ease and convenience to work on and store all your vehicles, equipment, and toys. It's an ideal setup for a home-based business. The property is located near I-8 for a quick trip to all the amenities of Casa Grande. Make it yours today! Utilities: Electric Company is San Carlos Irrigation Project; Water Company is Arizona Water Company.

2438 W Clearview Trail Phoenix, AZ 85086

$599,000
3 Beds
2 Baths
2,338 SqFt
Status Active
MLS # 6762744
Property Type Single Family Residence
Price Type --
Home, sweet home! This 3-bedroom, 2-bath residence features a 2-car garage and eye-catching stone accents. Discover a spacious living/dining room with 10' ceilings, a soothing palette, classic plantation shutters, sunscreens, recessed lighting, and a blend of wood-look and tile flooring. The kitchen comes with abundant wood cabinetry with crown moulding, stainless steel appliances, a handy pantry, and a two-tier peninsula with a breakfast bar for casual dining. You'll also find a versatile bonus room perfect for an office, lounge, or play area. The cozy main bedroom is complete with soft carpeting, an ensuite with dual sinks, and a convenient walk-in closet. The enchanting backyard includes a covered patio, pristine artificial turf, and a sparkling pool, built by Presidential Pools, for cooling down on hot days. Make this yours! Whole home water filtration system installed in 2021

51123 N 297th Avenue Wickenburg, AZ 85390

$599,000
3 Beds
2 Baths
1,458 SqFt
Status Active Under Contract
MLS # 6681768
Property Type Manufactured Home
Price Type --
Front porch sittin at its finest with wonderful mountain views overlooking your entire 3+ acre parcel. Beautiful home with both rustic and modern touches. Enjoy a split master bedroom with a beautiful en-suite with a large garden tub and separate shower. Wood look vinyl plank floors throughout the home for easy cleanup and a great look. The large detached barn and garage gives you more options for animals as well as a great storage and parking facility. The horse setup includes 7 covered stalls with a turnout and an arena (140' X 250') equipped with a steer pen and round pen. Home and property are move-in ready and waiting for your enjoyment! Ride out from this property all the way to Box Canyon to work your horses as needed!

14392 W Windrose Drive Surprise, AZ 85379

$599,000
4 Beds
3 Baths
2,618 SqFt
Status Active Under Contract
MLS # 6721199
Property Type Single Family Residence
Price Type --
Welcome to your dream home! LOW INTEREST rate program available for qualified buyers. Start living in this beautiful residence in Marley Park. An inviting front porch greets you upon arrival. The meticulously maintained interior showcases elegant wood-look tile flooring, plantation shutters, stylish light fixtures, and a formal living room. The spacious great room, graced with abundant natural light, is made for entertaining! The chef's kitchen includes ample cabinets with crown moulding, stainless steel appliances, quartz counters, a pantry, tile backsplash, and a prep island with a breakfast bar. You'll also find a cozy den ideal for work or play. The main retreat features plush carpet, an ensuite with dual sinks, a make-up desk, and a walk-in closet. Venture outside to discover the large backyard, which provides a covered patio, paver seating area, and artificial turf. Plus, enjoy the added privacy of having no neighbors on one side, as the home is adjacent to a serene park. With all these upgrades and a premium lot, this home is a must-see. Act now!

7835 E Palm Lane Scottsdale, AZ 85257

$599,000
3 Beds
2 Baths
1,275 SqFt
Status Active Under Contract
MLS # 6722857
Property Type Single Family Residence
Price Type --
Newly remodeled house in prime Old Town Scottsdale location with a pool & no HOA! Fall in love with the brand new luxury vinyl floors throughout, new blinds, new paint and so much more. Kitchen is complete with new appliances, quartz countertops and island. Bathrooms were updated with new vanities, lights, mirrors, upgraded plumbing etc. Enjoy the big backyard with covered patio, grass area and diving pool with new pump & new tank with glass filter. Roof was replaced in 2020!

7038 W Carter Drive Chandler, AZ 85226

$599,000
4 Beds
3.5 Baths
2,408 SqFt
Status Active Under Contract
MLS # 6749502
Property Type Apartment
Price Type --
Just reduced! Looking for a lock & leave home with luxury? Welcome home! Built in 2018, Carter Drive smells and feels like a NEW HOME with your modern kitchen, bathrooms, and balconies and with the added perk of mountain views, privacy between bedrooms and all just a minute to whatever you want. It's likely the most charming resort-style home you will find in the Chandler area. Escape your busy work life in your centrally located spacious tri-level 4-bedroom, 3.5 bath, 2 car garage home, where bedrooms have the privacy of their own bathrooms, perfect for a traveling guest or roommate. Rhythm is a private and quiet community off Ray and the 10 freeway and in charming Chandler, part of Metropolitan Phoenix with easy access to... ...outdoor recreations, award-winning events, world-class golf, and a vibrant community where you can enjoy every cuisine, premier shopping, arts and culture and 15-minute drive from the airport. Inside your Carter Drive home, you are greeted with your bottom floor bedroom, where your guest or family members can enjoy privacy from the rest of the home. Your two-car garage door is right there, so you can escape the elements when needed. Head upstairs to your open-concept great room and gourmet kitchen, featuring views of the Superstition or San Tan Mountains, beautiful. Create your favorite culinary delight in your open-concept gourmet kitchen with beautiful shaker cabinets, dazzling backsplash, granite countertops, your gas stove, top of the line stainless steel appliances, a large island and bar seating. Dine in or out, because you are minutes from fine dining, local pubs, shopping malls and more. Sit in your living area and enjoy the tranquil and spacious living area. The top floor features your luxurious primary room and other rooms. Enjoy views of downtown Chandler and mountains. Wash the day away in your huge glass walk-in shower and extra wide primary bathroom with private toilet room. But the luxury extends beyond your front door. The Rhythm Community boasts an incredible resort-style pool, perfect for cooling off on hot days. Work up a sweat in the state-of-the-art fitness center, then unwind by the fire pits. Plus, with its central location, you're just 15 minutes from the airport and Arizona State University, with shopping and restaurants at your fingertips. Come feel the Rhythm lifestyle today! Rhythm is a sought-after gated community home to families and young professionals alike. Located in both Tempe and west Chandler, the project encompasses a stylish urban living destination packed with resort-inspired amenities. The design features an influx of resident-exclusive luxuries such as a state-of-the-art fitness center, large heated swimming pool, relaxing spa, play pool, fire pit lounge, grill retreats with an outdoor smoker, shaded gathering areas, event lawn, lounge areas with tv's, basketball court, and biking/walking paths. Rhythm's amenities were centralized with walkable connectivity on the main entrance to provide a sense of arrival and an ease of access for residents to engage its heart of social activity.

13050 W Red Fox Road Peoria, AZ 85383

$599,000
2 Beds
2 Baths
1,813 SqFt
Status Active Under Contract
MLS # 6746965
Property Type Single Family Residence
Price Type --
This REMODELED Solis is Luxury Living at its finest & doesn't disappoint! The lighted paver walk-way leads you to paradise! Step inside to IMPRESSIVE CUSTOM DESIGNER FINISHES. The Spacious Kitchen is a Show-Stopper w/ an atmosphere to inspire one to cook & entertain - WOLF RANGE w/ induction cooktop, CUSTOM HOOD VENT, RAISED-PANEL, FULL-OVERLAY Cabinetry w/ soft close drawers & doors, CUSTOM ISLAND design w/ tons of storage, Striking QUARTZ c-tops w/ impressive veining, CUSTOM BACKSPLASH & Under/Over Cabinet Lighting. Just off the Kitchen is a CUSTOM Bar area equipped w/ a Beverage Fridge. This OPEN-CONCEPT Floor Plan is extremely desirable & the GREAT ROOM features an ENTERTAINMENT WALL w/ ACCENT LIGHTING! Owner's Suite has access to the patio and The Spa-like Bath is Remarkable w/ DRAMATIC QUARTZ C-top & Gorgeous Tiled Shower. Guest Bath is Equipped w/ HIGH-END Finishes as well! Step outside to EXTENDED PAVER PATIO w/ PERGOLA & Built-in GAS BBQ. Additional upgrades: TRANE HVAC, Garage equipped w/ Epoxy & Cabinets, Den w/ Double Doors, private courtyard w/ pergola, Upgraded ANDERSEN SLIDERS, Speakers, ceiling fans, soft water & recirc pump CROWN MOLDING, Trash Enclosure, PVC irrigation lines and more!! This HOME is PRISTINE & checks the boxes on the wish list - take a look yourself - your dream home awaits you!

2 Broadmoor -- Prescott, AZ 86305

$599,000
3 Beds
2 Baths
1,794 SqFt
Status Active Under Contract
MLS # 6753352
Property Type Single Family Residence
Price Type --
Beautiful maintained 3 Bedroom,2 Bath Home nestled in the highly desirable Wildwood Estates,a tranquil community offering a perfect balance of nature&convenience.Enter into the spacious great room w/a cozy gas fireplace,formal dining room,kitchen w/easy access to both indoor&outdoor dining areas.This area flows seamlessly into the two guest bedrooms w/a full second bath.Large primary bedroom w/an ensuite remodeled designed for that modern living.Laundry room w/ample cabinet storage space,2 car garage w/built in cabinets.Expansive covered deck opens to the private backyard a peaceful retreat surrounded by mature trees.Relaxing and comforting style in a serene setting.This home blends the best of indoor&outdoor living.Make this charming home your own.

2322 S Rogers -- Unit 16 Mesa, AZ 85202

$599,000
6 Beds
4 Baths
2,732 SqFt
Status Active
MLS # 6722677
Property Type Single Family Residence
Price Type --
This beautiful home is located inside the gated community of Legante Paseo in highly desirable Dobson Ranch & backs to the 3rd fairway of the golf course. The front entry leads to your formal living & dining area w/ a 2-way fireplace that is shared w/ the family room next to the open kitchen. The property features 6 bedrooms & 4 bathrooms including 3 primary bedrooms w/ en-suites (one on main floor). The two primary bedrooms upstairs also feature a balcony to enjoy sunsets & the golf course. Kitchen & bathrooms have been beautifully remodeled in addition to other upgrades including HVAC (2019) & newer appliances. The private community also has its own community pool & ramada area. Don't miss out on your chance to own one of the few properties available in this piece of paradise!

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