#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

9046 W Villa Maria Drive Peoria, AZ 85382

$498,400

4 Beds

2.5 Baths

2,190 SqFt

Status Active

MLS # 6652332

Property Type Single Family Residence

Price Type --

Welcome to this gorgeous home in Star Summit! This well-maintained home offers 4 bedrooms and 2.5 bathrooms in 2,190 sq ft. Plus, the home has been recently remodeled! As you enter the home you will love the wooden rail staircase and soaring ceilings. The kitchen is gorgeous with modern cabinetry, Quartz countertops, stainless steel appliances, a pantry, and a kitchen peninsula with a breakfast bar. The great room is spacious with a ceiling fan and blinds. The primary suite is generous is size with a walk-in closet and an updated ensuite bathroom featuring a huge corner tiled shower and a dual vessel sink vanity. The remaining bedrooms are move-in ready! The covered patio is extended and complete with a ceiling fan! All windows have sunscreens, they are in the garage! Do not miss out on this gorgeous home!

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4164 W Nora Drive San Tan Valley, AZ 85144

$498,135

3 Beds

2 Baths

2,232 SqFt

Status Active

MLS # 6688576

Property Type Single Family Residence

Price Type --

Beautiful 3 bedroom plus flex room with European kitchen layout, stainless steel appliances. Tile throughout except bedrooms, white cabinets granite counter tops.

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18217 W Cedarwood Lane Goodyear, AZ 85338

$498,000

2 Beds

2 Baths

1,891 SqFt

Status Active

MLS # 6687325

Property Type Single Family Residence

Price Type --

Welcome to this beautifully upgraded Cadence floor plan in the lake-inspired Active Adult community of CantaMia! This stunning property offers not only an open living space with no carpet but also a lifestyle filled with excitement and endless possibilities. As you enter through the front gate, you're greeted by a sprawling courtyard, perfect for entertaining or simply enjoying the outdoors. Inside, the kitchen is a chef's dream with granite countertops, matching backsplash, stainless steel appliances, and a large kitchen island also serving as a breakfast bar. The primary bedroom is a sanctuary featuring an oversized closet, granite counters, and a luxurious tiled walk-in super shower with a built-in bench. Flexibility is key with a versatile room complete with French doors located off the great room that can be used as a den, office, or guest room. Outside, the fully enclosed backyard offers privacy with block fencing and the added bonus of no homes behind, thanks to state-owned land. Enjoy the pomegranate, lemon, and orange trees, which add a touch of nature's bounty to the property. Plus, there is a wash across the street that enhances the sense of space and tranquility, keeping neighboring homes at a distance. Additional highlights include new plantation shutters, an oversized laundry room, a three-car split garage, water softener, and the convenience that all appliances convey. Don't forget about CantaMia's array of amenities. From heated pools and hot tubs to pickleball courts and billiards, there's something for everyone. Engage in card clubs, explore your creative side in the art studio, or stay connected in the IT center. With a 29,000 sq ft village center, fitness facilities, and a charming café, resort-style living is at your fingertips. Don't miss the opportunity to immerse yourself in the amazing lifestyle that CantaMia at Estrella has to offer. Come and experience the pinnacle of active adult living, where every moment is infused with excitement and possibility.

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12738 E De La Cruz Street Dewey, AZ 86327

$498,000

3 Beds

2 Baths

1,694 SqFt

Status Active

MLS # 6691424

Property Type Single Family Residence

Price Type --

Better than new! This stunning Quailwood home is turnkey and ready for you. 3 bedrooms and 2 baths, the Grand Teton model features a light and bright open floorplan. Beautiful cabinets and large kitchen island with granite countertops and stainless-steel appliances. Welcoming living room with attractive gas fireplace. Plank porcelain tile throughout and new upgraded carpet in bedrooms. Spacious primary bedroom with impressive walk in closet. Garage has epoxy flooring and storage cabinets. You will appreciate the instant hot water, and water conditioner. Low maintenance yard with paver patio and pergola for all day outdoor enjoyment. Attractive paver driveway. Enjoy the lifestyle of an affordable golf course community full of amenities like pickle ball, fitness center and tennis.

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1911 N 163rd Drive Goodyear, AZ 85395

$498,000

2 Beds

2 Baths

1,706 SqFt

Status Active

MLS # 6681542

Property Type Single Family Residence

Price Type --

Motivated Owner has done many upgrades to this Riveria model home since building in 2008. 2016 intereior painted, 2019 Hot water heater,and exterior painted, 2021 Trane HVAC system, PVC system, Security screen door, owner's suite main window replaced, guest bath solar tube to name a few! Home offers eat-in kitchen w/island, gas range, all appliances incld. Open floor plan with easy access to the fun outdoor entertaining area w/covered patio, lots of seating areas, built-in BBQ, fireplace, very private! Home offers 2 bed(owners suite w/own bath and walk-in closet, den w/doors, 2 car extended garage! Must see to appreciate! PebbleCreek is an Active Adult Community offering 3 golf courses, pickleball, bocce ball, tennis, theater and more!

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40905 N 10th Street Phoenix, AZ 85086

$498,000

3 Beds

2.5 Baths

1,843 SqFt

Status Active

MLS # 6684047

Property Type Single Family Residence

Price Type --

Discover your desert sanctuary in this contemporary gem built in 2021. Set on almost an acre and a half at the base of a gentle hill, this two-story retreat offers three bedrooms, 2 1/2 bathrooms, and an airy open floor plan. Picture-perfect views greet you from every angle, with the master suite boasting panoramic vistas. Inside, a modern kitchen with top-of-the-line appliances beckons for culinary adventures, while expansive windows blur the lines between indoors and out, leading to a spacious patio ideal for entertaining or stargazing. This is more than a home—it's an invitation to embrace the desert lifestyle. Don't miss out on making it your own oasis.

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25657 N 185th Drive Wittmann, AZ 85361

$497,995

3 Beds

2 Baths

1,693 SqFt

Status Active

MLS # 6669478

Property Type Single Family Residence

Price Type --

The Bronze floor plan would certainly take home gold for design! This ranch-style home centers around an open layout with a dining area, a kitchen with a center island, and a great room with center-meet doors leading to the covered patio. The primary suite is adjacent, and showcases a generous walk-in closet and a private bath. Two bedrooms and a second bath complete the residence, which also includes an attached RV garage. You'll love the professionally curated fixtures and finishes selected by our design team!

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17708 W Silverwood Drive Goodyear, AZ 85338

$497,950

3 Beds

2 Baths

1,935 SqFt

Status Active

MLS # 6677807

Property Type Single Family Residence

Price Type --

Up to 3% of total purchase price towards closing costs incentive offer. Additional eligibility and limited time restrictions apply. MLS#6677807 Ready March! Discover the Zafiro plan with 3 bedrooms and flex space. Enjoy curb appeal with a landscaped front yard and paver driveway leading to the porch. Perfect for entertaining, living space and covered patio are on one side, while bedrooms and flex room are on the other. Owner's suite offers privacy with walk-in closet, dual vanities, and walk-in shower. Located in a gated, active adult community with resort lifestyle in Estrella Mountain Foothills. Structural options include: paver front porch, multi-slide door at gathering, upgraded square corners, 5' baseboards, 8' interior doors, and pre-plumb reverse osmosis system.

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16216 W Indianola Avenue Goodyear, AZ 85395

$497,900

2 Beds

2 Baths

2,200 SqFt

Status Active

MLS # 6602047

Property Type Single Family Residence

Price Type --

Elegant travertine courtyard entry welcomes you to this one of a kind 'Milano' floor plan which has been customized with enclosed game room/sun room, beautiful library cabinets in den, built in cabinets & 'Murphy' bed in guest bdrm; extended master bdrm & family room; ext garage with storage cabinets, golf cart garage; water softener & R/O system. Freshly painted interiors in neutral color palette. Situated on a beautiful lot with great outdoor entertaining spaces including travertine patio, water feature & outdoor kitchen. Pebble Creek showcases stunning resort-style amenities and offers the ultimate value in active adult luxury living. PRICE REDUCED FOR QUICK SALE!

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2301 N 38th Street Phoenix, AZ 85008

$497,000

3 Beds

2 Baths

1,500 SqFt

Status Active

MLS # 6662657

Property Type Single Family Residence

Price Type --

This home qualifies for a $10,000 lender grant. Great Location (No HOA) with curb appeal on a large corner lot! OWNED Solar (paid for)! Ave Elect Bill = $125 Summer / $50 Winter. ($28 Most Recent Bill) Entry BARS can be removed. Upgraded kitchen counter & backsplash. Newer Windows, Newer block wall with 16 foot RV Gate perfect for your toys! Great split floor plan includes 3 bedrooms & 2 bathrooms. Separate entrance to one of the bedrooms. New bathroom vanity, countertop & cabinet. Upgraded living room recessed lights. Free standing storage shed that matches the house. Inside laundry with tons of storage space. Perfectly located near freeways, Sky Harbor Airport, downtown phoenix, shopping, phenomenal restaurants, entertainment, etc.

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7817 W Bloomfield Road Peoria, AZ 85381

New

$496,900

3 Beds

2.5 Baths

2,312 SqFt

Status Active

MLS # 6694212

Property Type Single Family Residence

Price Type --

NO HOA DOWNSTAIRS MASTER BEDROOM POOL. Spacious layout, vaulted ceilings, and cozy wood-burning fireplace. Kitchen includes breakfast bar & eat-in dining room. The master bedroom's walk-in closet and luxurious bathroom, complete with a walk-in shower and tub. Loft with two more bedrooms and bathroom upstairs. The backyard oasis with a covered patio overlooking the pool is the perfect spot for relaxation or outdoor gatherings.

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5415 W Novak Way Laveen, AZ 85339

$496,700

3 Beds

2 Baths

2,208 SqFt

Status Active

MLS # 6658821

Property Type Single Family Residence

Price Type --

Move in ready single story home with a play pool and a 3 car garage, these are all the items most people want in a home and this one has it all. This home has an open floor plan with an upgraded kitchen that has quartz counters and stainless steel appliances. The home has tile plank flooring through most all the home. There is a pebbletech play pool in the backyard that is like your own resort. Great family neighborhood with easy access to the freeway and shopping. This home is a must see.

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