#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

14024 W Desert Flower Drive Goodyear, AZ 85395

$520,000

3 Beds

2.5 Baths

1,983 SqFt

Status Active

MLS # 6651123

Property Type Townhouse

Price Type --

Recently built (mid-2022) single story home in beautiful Palm Valley is highly upgraded (nearly 50K), exceptionally clean and well cared for. Nestled on a corner lot within a quiet neighborhood and close to top rated schools, shopping, dining, and golf. Recently purchased Samsung Washer & Dryer and (2) Whirlpool French Door refrigerators convey. The main living space features large, on-trend 12'' x 24'' tile. The kitchen has upgraded white cabinetry with glass panels, crown molding and both in-cabinet and under cabinet LED lighting. The fully wrapped center island pops with gorgeous contrasting light gray cabinetry. Three large sliding patio doors with motorized roll up shades and custom cornices offer a light and bright or private, calming atmosphere. The private primary retreat features an oversize, freestanding tub for rejuvenating soaks and a fully tiled and enclosed shower for beauty and ease of care. Two additional bedrooms, which do not share common walls with the primary, are perfect for children or a home office and feature their own full bathroom. In addition, a half bath is centrally located, perfect for guests. A professionally landscaped rear yard includes high quality artificial turf and a custom paver walkway. The fully finished garage offers a professionally applied epoxy floor and an upgraded LED lighting system. Full spray foam insulation combined with whole house LED lighting and Ecobee thermostat offer optimal energy savings. True pride of ownership makes this home a rare find, please visit today!

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40861 W Little Drive Maricopa, AZ 85138

$520,000

3 Beds

2 Baths

1,803 SqFt

Status Active

MLS # 6649449

Property Type Single Family Residence

Price Type --

Single Story WATERFRONT property in the highly desirable Lakes at Rancho El Dorado community! Southern exposure on this 3 bdroom, 2 bath home + a den has the perfect open concept floorplan with a split master. Large den with french doors could easily be utilized as a 4th bedroom. The gorgeous kitchen overlooks the dining space & great room and features granite counters, custom ceramic tile, an island w/breakfast bar, stainless steel appliances, gas range & staggered upgraded cabinets with crown molding. Large master bedroom has an attached bathroom, walk-in closet & a separate entrance to private back patio! WRAP AROUND patio with beautiful pergola & custom pull down shades. Oversized garage (4ft larger), smart key, water softener system and reverse osmosis, ext. paint in 2020. RV GATE

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13602 W Hearn Road Surprise, AZ 85379

$520,000

3 Beds

2.5 Baths

2,990 SqFt

Status Active

MLS # 6658164

Property Type Single Family Residence

Price Type --

Seller is offering 2% seller's concessions for a full price offer!!!! AMAZING UPDATED HOME IN A GREAT LOCATION! This large home has been meticulously updated to include new A/C and furnaces, new paint inside AND outside, and new carpet. The large kitchen includes beautiful new granite countertops and lighting, and all new stainless-steel appliances. The 2 1/2 bathrooms include new vanities, mirrors, and lighting. The upstairs includes a large open loft for a kids playroom or optional converted 4th bedroom, upstairs laundry, and master bedroom with a split his & hers master closet. Downstairs includes a flex-room that can be made into a great home office for that remote work. Great location includes nearby schools, groceries, restaurants, movie theater and fitness, as well as the brand new Prasada entertainment and retail district & multiple playgrounds for the kids. A Must See - Must Have Home.

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21109 W Sunrise Lane Buckeye, AZ 85396

$520,000

2 Beds

2.5 Baths

1,735 SqFt

Status Active

MLS # 6665533

Property Type Townhouse

Price Type --

Elegance meets charm in this stunning, completely remodeled Kitchen/Master Bath in the prestigious Verrado Community. Captivating upgrades and custom finishes throughout the home showcase meticulous attention to detail, ensuring both beauty and functionality. A gorgeous kitchen appointed with large curved black leathered granite island, floor to ceiling custom staggered cabinetry, all SS appliances, Thor wine fridge, gas cooktop and clever pantry/closet. Primary bedroom on first floor features newly remodeled custom glass/tiled shower and custom built-ins in walk- in closet. Upstairs is a second bedroom, full bath & loft space for office/den or sitting room. The backyard setting features a large pergola covered patio, charming paver courtyard and a spectacular, private garden setting.

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8353 W Myrtle Avenue Glendale, AZ 85305

$520,000

4 Beds

3 Baths

2,220 SqFt

Status Active

MLS # 6673007

Property Type Single Family Residence

Price Type --

Beautiful 4 bedroom home ready for you to call home today. This home features a living room and family room, granite counter tops, vaulted ceilings, tile floors in all of the right places, kitchen island, and is situated on a corner lot with a large spacious back yard. 2 car garage with RV gate and many more upgrades. Come and view your new home today.

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1717 E Hale Street Mesa, AZ 85203

$520,000

4 Beds

2 Baths

1,756 SqFt

Status Active

MLS # 6678344

Property Type Single Family Residence

Price Type --

Welcome to your dream home, nestled in the picturesque & highly coveted serene neighborhood of Candlelight Estates. This charming 4-bedroom, 2-bathroom home has been beautifully updated in the kitchen to include plenty of cabinet storage, gleaming granite countertops, stainless steele appliances and durable laminate flooring. The dining/family room area features a completley remodeled gorgeous fireplace. Discover serenity in the privacy of 4 spacious bedrooms offering ample room for rest and rejuvination. The garage has been turned into a great space for a bonus room (Adding 342 SQ FT) that could be used for a family gathering space. The duct work for heating & cooling was extended into this space to ensure everyones comfort making the total liveable sqft 2098. Outside a completley remodled pool awaits and offers endless oppertunities for leisure and entertainment. Whether lounging poolside under the sun or hosting unforgettable gatherings with loved ones, this backyard haven is your personal sanctuary. Located in a peaceful, mature neighborhood, this home offers the perfect blend of seclusion and convenience. Embrace the tranquility of your surroundings while still being just moments away from local amenities and attractions. Don't miss your chance to make your dreams of peaceful living come true.

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4499 E Rousay Drive San Tan Valley, AZ 85140

$520,000

4 Beds

2.5 Baths

3,247 SqFt

Status Active

MLS # 6680354

Property Type Single Family Residence

Price Type --

Welcome to this stunning open-concept 4 bed, 2.5 bath home. Step inside to discover the allure of wood plank laminate flooring gracing the main living areas, creating a seamless flow and inviting ambiance.The heart of this home is the beautifully updated kitchen, complete with stainless steel appliances, a large island perfect for meal prep and gatherings, and ample storage space for all your culinary needs. The master bedroom features an en suite bathroom & large walk-in closet. Three additional generously sized bedrooms offer versatility for guests, family, or home office needs. Step outside to the backyard oasis featuring a covered patio, ideal for al fresco dining. The open grassy area invites you to unleash your creativity and customize the space according to your desires.

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6180 S Amethyst Drive Chandler, AZ 85249

$520,000

3 Beds

2.5 Baths

1,906 SqFt

Status Active

MLS # 6679637

Property Type Single Family Residence

Price Type --

Spacious two-story home nestled within a serene lake subdivision, offering three bedrooms plus a family room, and an office, exuding an airy and bright atmosphere with its 9+ foot ceilings and fresh paint. The kitchen features cherry wood staggered cabinetry, granite countertops, a kitchen island, and canned lighting. Enjoy seamless indoor-outdoor living with a glass door leading to the backyard covered patio, perfect for al fresco dining or relaxing in the garden. Embrace the vibrant community lifestyle with access to multiple parks/playgrounds, an aquatic center, sand volleyball, basketball courts, and more, ensuring endless entertainment and recreation for the whole family. Experience comfort and convenience in this stunning home in a coveted lakeside community. AC is only 2 years old!

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4647 N 9th Street Phoenix, AZ 85014

$520,000

4 Beds

3 Baths

1,600 SqFt

Status Active

MLS # 6681941

Property Type Single Family Residence

Price Type --

MULTIGENERATIONAL LIVING! Growing families! Home was updated in 2021. Main home has 3 bed 2 bath plus office. Private guest house attached to the home has 1 bedroom, 1 full bathroom, kitchen area with potential to add an oven, along with separate private entrance. Located in the heart of Phoenix, in the Uptown area, minutes away from the city's downtown area. Features carport parking, SS appliances, & covered back patio. This home is also ideal for the investor that cater to traveling nurses. Minutes away from Phoenix Children's Hospital. SELLER IS SELLING HOME AS-IS.

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40071 N Scott Way San Tan Valley, AZ 85140

$520,000

4 Beds

2.5 Baths

3,246 SqFt

Status Active

MLS # 6693134

Property Type Single Family Residence

Price Type --

Welcome to your new home in the beautiful community of Castlegate! This stunning 4-bedroom, 2.5-bathroom home offers 3,247 square feet of space for you and your loved ones to spread out. Step inside and be greeted by the inviting formal dining room, ideal for hosting gatherings with friends and loved ones. The open-concept family room seamlessly flows into the kitchen and dining area, providing a warm and welcoming space for everyday living. The heart of the home, the kitchen, boasts ample cabinet and counter space, an RO system, and a new dishwasher and stove making meal prep a breeze. Adjacent to the family room is a versatile downstairs den, perfect for an office, playroom, or easily converted into a 5th bedroom to suit your needs. Upstairs, discover... (cont.) a spacious loft area, offering endless possibilities for relaxation or entertainment. All bedrooms are located on the upper level, including the expansive primary suite featuring an ensuite bathroom with separate shower and tub, dual sinks, and a walk-in closet. Outside, the large backyard features artificial turf and extended patio, providing plenty of space for outdoor gatherings and activities. Additional highlights of this home include wood-look tile flooring and carpet installed in 2022, 2 newer AC units and air handler (2022), exterior paint (2024), sun shades on windows, and new programmable smart thermostats. Located just around the corner from Simonton Elementary School and, with parks, green spaces, and biking and walking paths throughout the neighborhood, there's plenty to explore right outside your doorstep.

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702 W Baylor Lane Gilbert, AZ 85233

$520,000

3 Beds

2 Baths

1,640 SqFt

Status Active

MLS # 6685576

Property Type Single Family Residence

Price Type --

This remodeled 3-bedroom, 2-bathroom home in Gilbert's Dave Brown Country Estates offers a blend of modern comfort and inviting charm. The great room floor plan creates a seamless flow throughout the home, fostering a cozy atmosphere perfect for both relaxation and entertaining. Recently updated with brand-new flooring and freshly painted interiors, the property exudes a sense of freshness and contemporary style. Enhanced light fixtures brighten the space, enhancing its overall appeal and ambiance. The bathrooms have been meticulously updated for a modern look that complements the home's aesthetic. The kitchen is a culinary haven, equipped with stainless-steel appliances, freshly painted cabinets, and luxurious quartz countertops, including a spacious kitchen island for added convenience. Situated on a corner lot, the home offers easy access to neighborhood parks and schools, making it ideal for families. Plus, its proximity to downtown Chandler and Gilbert ensures convenient access to dining, shopping, and entertainment options. With its thoughtful upgrades and prime location, this home in Gilbert's Dave Brown Country Estates is sure to captivate discerning buyers seeking both comfort and style in the East Valley area.

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7072 W Jasmine Trail Peoria, AZ 85383

$520,000

3 Beds

2 Baths

1,685 SqFt

Status Active

MLS # 6696405

Property Type Single Family Residence

Price Type --

Perfect 3 bedroom/2 bath/2 car garage (23'4'' - extra deep!) single-level home near 67th Ave & Happy Valley Rd! Pulte built in 2020. Mountains in the area provide nice views & hiking/outdoor enjoyment! Huge neighborhood park w/playground. Backyard has artificial turf for easy maintenance, extended flagstone patio beyond covered patio, & extended height block fence in back! Freshly painted & carpets cleaned - ready to move in! Split primary bdrm has spacious walk-in closet & 2 sinks/large shower in bathroom. Kitchen is open to dining area & great room. Kitchen incl SS refrig, flat cooktop stove, lots of cabinets, granite counters, subway tile backsplash, breakfast bar & sink in island, and pantry. Laundry includes Samsung front load washer/dryer. Ring doorbell conveys. Water softener. See this beautiful home soon!

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