#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

2177 E Alameda Drive Tempe, AZ 85282

$595,000

3 Beds

2 Baths

1,884 SqFt

Status Active

MLS # 6710147

Property Type Single Family Residence

Price Type --

Newly remodelled Tempe beauty at a exceptional price way below market! Such a great layout too! 3 bedroom, 2 bath, oversized 2 car with a bonus room in garage. The spacious vaulted ceilings w/ great room has pre-wired surround sound, tile flooring, a beautiful tile fireplace, and plantation shutters throughout. Remodelled kitchen has lots of white cabinets, newer stainless steel appliances, quartz counters, tile backsplash, and a convenient breakfast bar. Large primary bedroom offers bay window, direct outdoor access, a walk-in closet, and a remodelled ensuite. On the other side of the home is 2 more bedrooms & bath. Large laundry room with ample storage. Conveniently located just minutes away from golfing, ASU, shopping, restaurants, and easy access to the freeway. Great rental

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2542 S Canfield -- Mesa, AZ 85209

$595,000

5 Beds

3 Baths

2,435 SqFt

Status Active Under Contract

MLS # 6712560

Property Type Single Family Residence

Price Type --

Meticulously maintained, original owners pride of ownership shows in this fabulous single level apacious home in the highly sought-after Mulberry planned community in Mesa, Arizona. The home features 3 bathrooms, 5 bedrooms with the owner suite split from the rest of the bedrooms. An open great room concept featuring crown molding at the ceilings here plus in hallways & primary bedroom/bath, 20x20 tile set on the diagnal all but 4 bedrooms which have wood flooring, gourmet kitchen with granite countertops plus custom full height backsplash, gas range, SS appliances, center island & walk in pantry. The outdoor space includes patio with extended pavers which include a walkway to side of home, 2 pergolas & retractable privacy screens, a custom art painted landscape scenery on rear MORE.. a custom art painted landscape scenery on rear block wall 50 ft in length. Oversized 2 car garage with 4 layer max chip floor by Epoxyology Garage Floor Coating plus four 4 ft x 8ft hanging storage racks,

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9409 E Nacoma Drive Sun Lakes, AZ 85248

$595,000

3 Beds

3 Baths

2,443 SqFt

Status Active

MLS # 6713360

Property Type Single Family Residence

Price Type --

Pride of ownership is apparent in this 3 bedroom, 3 bath home in the gated active adult community of Oakwood CC. The casita with separate entrance provides flexibility for guests, a home office or exercise studio. Entertain in the great room or family room with adjacent kitchen and breakfast nook. Granite counters, SS appliances, newer paint and hardware with loads of cupboard space. Retire to the primary suite with patio access, walk in closet, dual split sinks and separate shower and tub. Guests will appreciate the spacious bedroom with walk in closet and nearby bath. New AC in 2021. Newer wood look tile flooring with some carpeted areas. You'll love the large picture windows and slider leading to the backyard with expanded covered patio and lush landscaping. See upgrade list.

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1357 W Port A Sail Drive Gilbert, AZ 85233

$595,000

3 Beds

3 Baths

1,797 SqFt

Status Active

MLS # 6741454

Property Type Single Family Residence

Price Type --

This stunning waterfront home in gated community offers breathtaking views with three bedrooms, third bedroom converted to an office, and three full baths. Freshly painted, this two-story residence exudes modern elegance and charm. The gourmet kitchen boasts granite countertops, newer appliances, and opens to a sunlit dining area, perfect for entertaining. The living room, featuring water views and a wood-burning fireplace. Each bedroom serves as a private haven, with the primary suite offering a luxurious en-suite bath. Outside, the beautifully landscaped yard, complete with turf and mature trees, provides the perfect setting for relaxing and enjoying the waterfront lifestyle. 2 A/C units 2020, water heater 2021, kitchen appliances 2021, lighting and house painted 20

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17983 E Vista Desierto -- Rio Verde, AZ 85263

$595,000

2 Beds

2 Baths

1,370 SqFt

Status Active

MLS # 6724151

Property Type Single Family Residence

Price Type --

Spectacular 2 bedroom 2 bath home with $100,000 in upgrades in Trilogy at Verde River. Chef's kitchen features stainless steel Monogram appliances including built-in refrigerator/freezer, gas cooktop, dishwasher microwave and wall oven. Granite and quartz countertops. Magnificent glass tile backsplash. Very open great room floor plan is ideal for entertaining. Primary suite offers luxurious bath room with double sinks, built-in vanity, oversized shower. and custom walk-in closet. Private back yard with large covered patio, desert landscaping and artificial turf. Trilogy at Verde River offers an array of activities. Please visit their website for details.

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3212 S Marryvale Lane Flagstaff, AZ 86005

$595,000

2 Beds

2 Baths

1,410 SqFt

Status Active

MLS # 6728129

Property Type Townhouse

Price Type --

RARE OPPORTUNITY for a SINGLE LEVEL in Pinnacle Pines - and it even includes A/C! Come take a look at this nicely appointed 2 bedroom home with a great layout and use of space. The split floor plan design provides privacy for each of the two bedrooms while the great room combines the Living/Kitchen/Dining into an open and comfortable gathering space. A modest sized covered deck overlooking the backyard is great for spending a relaxing afternoon enjoying the outdoors. Other wonderful features include a flat, SW facing driveway, separate laundry room, lots of extra storage in the large crawl space, and did I mention A/C? Come take a look at this great home located on a quiet cul-de-sac in Pinnacle Pines!

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415 W Monterosa Street Phoenix, AZ 85013

$595,000

3 Beds

3 Baths

1,380 SqFt

Status Active Under Contract

MLS # 6732264

Property Type Single Family Residence

Price Type --

REMODELED! $15,000 towards buyer's closing costs with acceptable offer!! Great opportunity for this beautiful home that's had a HUGE makeover including plumbing, electrical, roof and hvac. Be prepared to fall in love with the classy, modern colors and big backyard with artificial turf. The paved sitting area is perfect for outdoor dining or lounging. There's even a 300 sq ft casita with it's own entrance.! You can make it your primary home, or income property, but don't wait to make it your own! Located in the heart of Phoenix surrounded by schools, parks and amazing restaurants and shopping.

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8814 E Sunnyside Drive Scottsdale, AZ 85260

$595,000

3 Beds

2 Baths

1,385 SqFt

Status Active

MLS # 6739588

Property Type Single Family Residence

Price Type --

Quiet neighborhood in a fantastic North Scottsdale location with easy access to Loop 101. This 3 bedroom home offers a 2 car garage with a Brand New epoxy floor, a newer tankless water heater (2023), and spacious living. Welcoming courtyard & private backyard. The sizeable living room has newer ceiling fans and plantation shutters. Breakfast area in the kitchen, large primary bedroom with walk-in closet & open vanity area, ceiling fans in every room, and all appliances are included. Very well maintained community with heated pool, spa, & tennis/pickleball. HOA maintains the front yard too!

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1357 N Nebraska Street Chandler, AZ 85225

$595,000

3 Beds

3 Baths

1,971 SqFt

Status Active

MLS # 6740805

Property Type Single Family Residence

Price Type --

Discover your dream home in Chandler! Situtated on a cul-de-sac lot, this main house is 1,971 sq ft, 3 bedrooms, 2 baths, PLUS 356 sq ft detached guest house with a full bath and kitchenette. Enjoy no HOA restrictions and a 9ft RV gate with a slab for boats, campers, and other toys. The backyard features a Pebble Tec pool with a rock water feature and slide (updated in 2017), a ramada, and an extended covered patio. The main house, guest house, and storage shed received new roofs in 2021. Main & guest house exterior paint in 2022 with 20 year warranty. Stay comfortable with two new HVAC systems installed in 2020 and a solar water heater added in 2023. This home is a perfect blend of comfort and convenience in Chandler! Be sure to ask about the energy audit & solar savings!

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8314 W Berridge Lane Glendale, AZ 85305

$595,000

4 Beds

2 Baths

2,696 SqFt

Status Active

MLS # 6752281

Property Type Single Family Residence

Price Type --

This home is spacious with 4 bedrooms, office and an extra flex space. The open concept is light and bright, and the home has recently had some nice cosmetic updates with new quartz countertops throughout, new light fixtures, new plumbing fixtures, freshy painted inside and out, new carpet in the bedrooms, new door hardware, new slider, and nice backyard. This open floor plan has a large, updated kitchen with all new stainless-steel appliances, island that seats 4, and opens to an inviting family room. The home has a split floorplan, and the primary bedroom is large with ample space and a walk in closet. Home is in a great location less than a mile from all the amenities at Westgate Mall. Seller willing to offer a rate buy down. The home has a split floorplan, and the primary bedroom has a beautiful new shower and walk in closet. Landscaping has been updated and there is a large, covered patio and 3 car garage with new openers. See documents tab for all upgrades.

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2136 W Village Drive Phoenix, AZ 85023

$595,000

4 Beds

3 Baths

2,757 SqFt

Status Active

MLS # 6751243

Property Type Single Family Residence

Price Type --

This inviting 4-bedroom, 3-bath residence is the one you've been searching for! Every inch of this home has been thoughtfully remodeled, offering 2,750 square feet of stylish interior living space. The spacious family room features exposed beams, an inviting stone fireplace, and double sliding doors that open to the recently updated backyard. The sleek kitchen boasts quartz counters, abundant shaker cabinets, stainless steel appliances, a walk-in pantry, and a convenient breakfast bar. The main bedroom includes a modern ensuite bathroom. Step outside to the welcoming backyard, perfect for outdoor entertaining. It includes a 10' x 20' pergola, lighted cornhole, and spaces devoted to both dining and a firepit all surrounded by low-maintenance artificial turf. Additionally, a 560 sq ft air-conditioned and heated detached bonus building awaits, ready to serve as a home office, gym, or hobby space. Make this gem yours today!

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3281 N Eagles Creek Drive Show Low, AZ 85901

$595,000

3 Beds

2 Baths

1,737 SqFt

Status Active

MLS # 6751334

Property Type Single Family Residence

Price Type --

Nestled in a tranquil neighborhood, this beautiful home offers a perfect blend of comfort, style, and convenience. As you step inside, you are greeted by a spacious and open floor plan that seamlessly combines modern design with a warm and welcoming ambiance. The well-appointed kitchen is a chef's dream, featuring sleek countertops, ample cabinet space, and state-of-the-art appliances. Whether you're hosting a family gathering or enjoying a quiet meal, this kitchen is sure to impress. The living area is thoughtfully designed with a focus on both relaxation and entertainment. The generous windows fill the space with natural light, creating an inviting atmosphere for both residents and guests. Spend cozy evenings by the fireplace, creating cherished memories or unwind on lazy afternoons while enjoying your favorite book. The bedrooms are generously sized, providing a peaceful sanctuary for rest and relaxation. The master suite is a true retreat, boasting a private ensuite bathroom and ample closet space. Wake up rejuvenated and ready to take on the day in this luxurious haven. Step outside to discover a covered deck, perfect for hosting outdoor gatherings or simply enjoying the fresh air. Whether you're entertaining guests or savoring a quiet moment, the spacious deck offers a delightful space for relaxation and enjoyment. Create lasting memories as you gather around the fire pit, roast marshmallows, and share stories under the starry night sky. Located in the desirable city of Show Low, this home provides convenient access to a wealth of amenities. Explore the nearby parks, indulge in local dining, or take advantage of the recreational opportunities available in the area. With its picturesque surroundings and welcoming community, Show Low offers a quality of life that is second to none. Don't miss out on the opportunity to make 3281 N Eagles Creek Drive your forever home. Embrace a lifestyle of comfort, elegance, and convenience in this remarkable property.

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