Home Builder Index Dips in January

January’s National Association of Home Builders Housing Market Index dipped two points from December’s revised reading of 69 to 67;  the index reading forecast for January was also 69.Analysts said that January’s reading was the second highest (after December 2016) since the peak of the housing bubble in 2005. January’s dip in builder sentiment was attributed to easing of builder enthusiasm, which spiked right after the U.S. presidential election. To put January’s home builder confidence reading in context, NAHB says that any index reading over 50 indicates that more builders than fewer have confidence in housing market conditions.

NAHB SubIndex Readings for January

Three sub-index readings are used in compiling the NAHB Housing Market Index reading. Builder confidence in current housing market conditions fell three points to 72; builder confidence in housing market conditions over the next six months fell two points to 76. Builder confidence in buyer traffic in new housing developments dropped one point to 51.

Builders surveyed continued to cite the cost of new lots for development and the lack of skilled labor as obstacles to higher builder confidence.

After releasing January’s index readings, the NAHB said that while January’s readings were lower than those for December, a majority of builders have expressed confidence that the new administration will reduce regulatory pressure on home builders. NAHB also cited home builder concerns over mortgage rates, which rose nearly a percentage point in November and December before falling. Despite ongoing concerns, builder sentiment has steadily improved over time. On average, builder confidence averaged a reading of 61 in 2016 against 2015’s average reading of 59 and the 2014 average reading of 52.

Builder Outlook Seen as Key to Easing Home Shortage

Real estate and mortgage pros have consistently said that building more homes is necessary to ease the ongoing shortage of available homes. NAHB’s Housing Market Index is closely followed as a benchmark of home builder confidence. Higher builder confidence in current and future housing market conditions is viewed as a potential indicator of home building activity, but housing starts have not been uniformly allied with builder confidence.

Shortages available homes creates high demand creates concerns for potential buyers seeking affordable homes. Rapidly rising home price, particularly in high demand metro areas, have sidelined buyers who cannot compete against buyers making cash offers on homes with rapidly escalating prices.   For more information give me a call – J.P. Cook – 602-320-4253.

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23216 N 95th Street Scottsdale, AZ 85255

$6,750,000 - 5Br/6Ba -  for Sale in Pinnacle Peak Vistas, Scottsdale
Open House
$6,750,000
5 Beds
5.5 Baths
6,517 SqFt
Status Active
MLS # 6695412
Property Type Single Family Residence
Price Type --
Introducing a 6,100+ square foot modern masterpiece designed by Graffin Design Architects, nestled on nearly an acre of land boasting breathtaking mountain and city light views just north of DC Ranch. This home's allure begins with a paver driveway leading to a 3-car garage (with EV charger and dog wash station!), courtyard entry, and a grand pivoting front door. Inside the residence exudes sophistication and functionality, featuring a sleek split floor plan with 4 bedrooms and 4.5 baths on the main level, including a separate principal suite and an attached casita with its own living space. The great room, featuring a large drop down screen and projector, seamlessly flows into the kitchen and dining area, with glass walls that invite abundant natural light and panoramic views. Upstairs, a versatile space awaits, offering a sitting room/bar area, a 5th bedroom/exercise room with a full bath, and a separate view deck with a lounge area, perfect for entertaining. Throughout the home, premium finishes abound, including hardwood and tile floors, a full Wolf Sub Zero appliance package, custom cabinets, porcelain countertops, 8' solid doors, exposed masonry block, and chrome hardware fixtures all enhanced by LED lighting and controlled remotely via Control 4 smart home system. Enhancing the living experience is the seamless integration of indoor-outdoor spaces, where the backyard oasis beckons with a pebble-tec pool and spa, synthetic turf yard with custom xeriscape, and a full outdoor kitchen with built-in barbecue and pizza oven, multiple fireplaces and stunning city light and mountain views. There is also a large enclosed private dog park that could be converted into a play area or golf simulator or whatever dream project you envision! Additional features include a central vac system, owned solar panels, outdoor shower, multiple water features, auto covers for the pool and spa, and a built-in ionized water station in the fitness room. Truly there are too many extras to list here! Discover unparalleled luxury living in this meticulously crafted residence, where every detail reflects the epitome of high-end sophistication and style.

2437 Wren Cove Way Lake Havasu City, AZ 86406

$6,700,000
4 Beds
4.5 Baths
5,998 SqFt
Status Active
MLS # 6781604
Property Type Single Family Residence
Price Type --
Nestled in the world-class, guard-gated community of Riviera, this extraordinary lock-and-leave, lakeside estate—brand new construction—offers an unparalleled living experience. Boasting 4 expansive bedrooms and 4.5 luxurious bathrooms, this home is a true escape to paradise, where sophisticated design meets exceptional craftsmanship. The expansive great room, highlighted by soaring 14-foot vaulted ceilings, effortlessly flows into a gourmet kitchen featuring top-of-the-line Miele appliances, custom cabinetry, and a glass-enclosed wine room with capacity for 500 bottles. Throughout the estate, exquisite touches abound—rift-cut oak walls, Italian porcelain flooring, and handcrafted solid oak interior doors add a layer of refinement to every space. The opulent master suite is a... private retreat, complete with a steam shower and dry sauna for ultimate relaxation. Equipped with a state-of-the-art Crestron home automation system, this home offers convenience and modern luxury at your fingertips. Designed to blend seamlessly with its natural surroundings, the home features expansive sliding glass walls that open to an outdoor sanctuary, complete with a pool, spa, and panoramic vistas. With every detail meticulously curated, this architectural masterpiece offers the perfect fusion of elegance, comfort, and breathtaking natural beauty.

27643 N 113th Place Scottsdale, AZ 85262

$6,700,000
6 Beds
9 Baths
10,766 SqFt
Status Active
MLS # 6725873
Property Type Single Family Residence
Price Type --
Enter a world of luxury and sophistication with this breathtaking masterpiece of design. Nestled on nearly 4 acres of private gated land, this expansive home offers unparalleled elegance and exceptional amenities. The residence has 2 levels: the main level consists of a grand foyer entrance, a formal dining room, an office, a gourmet kitchen with eating area and an opulent great room with high ceilings. There is a private wing for the master suite with 2 master baths & closets! The opposite side has 4 bedrooms each with an ensuite & patio, there is a powder room plus a game room and bar area.The lower level features a large theater room and separate guest house with a bedroom, living area and kitchen. There is an elevator from the 8 car garage to easily access the main level. The outdoor living space is truly a personal oasis with a large covered patio, a stunning heated pool / spa featuring a swim up bar and water slide, full sized tennis court / basketball court, a ramada, a playground, lush landscaping and accent lighting. This estate is more than a home, it's a lifestyle designed for both grand entertaining and serene relaxation. Welcome to your new paradise! FYI: New roof, 3 new AC units, new wood flooring in all bedrooms and game room, there is a laundry room and also a W/D in one of the master closets - this home has it all!

4545 N Launfal Avenue Phoenix, AZ 85018

$6,695,000
5 Beds
5.5 Baths
5,630 SqFt
Status Active
MLS # 6781063
Property Type Single Family Residence
Price Type --
4545 Launfal - Welcome to your own slice of paradise, located in the idyllic Arcadia neighborhood of Phoenix. Providing an unparalleled setting amidst picturesque landscapes and breathtaking mountain vistas, the home offers a lifestyle of convenience and sophistication, with proximity to upscale shopping destinations, fine dining establishments, and world-class entertainment venues, ensuring every desire is effortlessly met. Yet, despite its proximity to urban amenities, the home remains a sanctuary of serenity and seclusion, offering a peaceful retreat from the hustle and bustle of city life. The home embodies luxury living with its sleek design and modern amenities. As you enter, the spacious living areas boast an abundance of natural light and elegant finishes, creating an inviting atmosphere for entertaining guests or relaxing with family. The gourmet kitchen is a chef's dream, featuring high-end appliances, custom cabinetry, and a large island perfect for meal preparation and casual dining. Adjacent to the kitchen, the formal dining room offers a sophisticated space for hosting dinner parties and special occasions, tastefully integrated with a wine wall that not only serves as a visually stunning backdrop, but acts as a temperature-controlled wine cellar, adding an element of refinement that elevates the overall ambiance of the space. Retreat to the spacious primary suite with fireplace and views of Camelback Mountain, complete with an expansive bathroom area, with separate commodes and large walk-in closets, for added convenience and functionality. The home not only boasts three large ensuite guest bedrooms in the main house, but also a guest casita with private entrance, offering a truly exclusive retreat for discerning visitors. Step outside to your own private oasis, where relaxation and recreation await. The expansive covered patio allows for ideal outdoor living, while enjoying a backyard that is an entertainer's dream, featuring a large salt water pool and built in spa area surrounded by lush landscaping, multiple seating areas, and numerous patio spaces perfect for outdoor dining and lounging. With its prime location, this exceptional residence offers the perfect vantage point to appreciate the natural beauty of Camelback Mountain while enjoying the ultimate in outdoor living. Whether hosting a poolside gathering with friends and family or simply soaking in the peaceful ambiance, it is truly an unforgettable setting for relaxation and enjoyment. Your dream home awaits - seize the opportunity to make it yours and discover the epitome of Arizona living.

8822 E Chino Drive Scottsdale, AZ 85255

$6,650,000
5 Beds
6 Baths
5,565 SqFt
Status Active
MLS # 6758786
Property Type Single Family Residence
Price Type --
Welcome to 8822 E Chino Drive.This North Scottsdale elegant estate is perfectly situated on 1.5 acres creating a home that enjoys resort style living, complete privacy & exquisite McDowell Mountain views. The home was originally built in 2017 and has been totally reimagined and redesigned in 2021 creating a modern and elegant timeless estate, with seamless indoor/outdoor living spaces in a peaceful Zen like setting. The gourmet kitchen with Wolf and Sub-Zero appliances will compliment any chef, with a large island that is open to the dining and coffered ceiling living room with 60 inch linear fireplace, creating an elegant space which is perfect for family gatherings and entertainment. This is also a smart home, operated by using an app or your voice: Lights, TV, Music, and Fireplaces can all be turned on by the time the garage door opens. The home is also equipped with solar. The primary suite is split from other bedrooms offering complete privacy, the linear fireplace will set the mood for any occasion. Enter the spa-like En-Suite marble bathroom with luxurious closets. A master patio with gas burning fireplace completes the Primary bedroom experience. Entertaining in this home is a delight with the 20-foot panoramic sliding glass doors leading to the exquisite white limestone patios, a resort-style pool, and a spa with a backdrop of McDowell Mountain views. How about a game of pickleball, you have your very own flood-lit sports court and your own private putting green to practice your putting skills. It truly is a one-of-a-kind luxurious resort. No detail or expense was withheld on this superior one-of-a-kind remodel. Custom furnishings professionally designed can be available via a separate bill of sale, this can be a turn-key investment, just bring your personal items and enjoy.

36700 N Lone Eagle Point Carefree, AZ 85377

$6,600,000
5 Beds
6.5 Baths
6,435 SqFt
Status Active
MLS # 6771399
Property Type Single Family Residence
Price Type --
Majestic hillside masterpiece, with endless views of the mountains and city lights below of Scottsdale and Carefree! Upon entering this custom home, you are immediately at one with the layout, interior finishes, and amazing views. Perfectly sited on 2.7 acres, blending naturally with the massive boulders, the Sonoran Desert, and offering privacy and views in every direction. The unique crescent shape of this home resulted from an extremely narrow buildable area and the steep incline of Black Mountain. The home was designed & built using sophisticated and expensive commercial building techniques, with natural masonry and steel framing that minimized site disturbance. The foundation is actually integrated with the granite boulders & bedrock that is unique to the East side of Black Mountain. Carefully chosen natural cut stone, color-matched stucco, and patina copper enable the home to truly blend with the boulder-laden landscape. Careful use of eco-friendly sustainable materials such as bamboo wood floors laid over a cork substrate for a durable surface that eliminates any sensory disturbing echo within. Low level VOC paint and LED lighting compliment the many other eco-conscience decisions that went into building this home. As with any well planned and technically difficult project, this one-of-a-kind custom home took numerous years to build, and it would be impossible to build today for this offering price. There will never be another one like it, and it can truly be a legacy home passed through generations!

7451 N Las Brisas Lane Paradise Valley, AZ 85253

$6,600,000
6 Beds
7.5 Baths
8,540 SqFt
Status Active
MLS # 6785821
Property Type Single Family Residence
Price Type --
This transitional contemporary home is discreet and understated from the road. Once through the door you're greeted with a collection of exotic woods, stonework, and a high level of craftsmanship and quality. This home has a level of sophistication that is rarely seen. It was designed with the luxury of convenience in mind. It's equipped to enable different activities and uses through the home with separation and privacy. It's not a single large box room. Its different rooms allow more specific functions while creating an intimacy throughout. An office with some of the best woodwork you've seen, a fully equipped theater, an 1800 bottle wine room adjoining a handcrafted bar, a master suite on it's own level with an exercise room, its own laundry, deck, and 2 beautiful and detailed closets Three wet bars, a main kitchen, an exterior kitchen, and a guest house kitchen. Four laundry rooms. Three elevators. Multiple patios and decks. A large temperature controlled four car garage in the main home, and a two car garage in the guest house. The 2 bedroom 2 bathroom guest house is separate and apart from the main residence. The home's infrastructure and mechanical systems are equally as impressive as it's visual design and functionality. The home has a water pressure system that maintains constant needed pressure throughout the home, regardless of the number of locations calling for water at the same time. The home is set on the side of Mummy Mountain, and enjoys the exterior mountain views, while allowing it's residents the ease of access to anywhere on the interior with the option of any of its' three elevators. This home is so dignifiedly understated from the street, and so sophisticated on the inside, that it may be the residential representative of, Speak softly and carry a big stick.

6018 N Saguaro Road Paradise Valley, AZ 85253

$6,599,000
5 Beds
7 Baths
7,193 SqFt
Status Active
MLS # 6780828
Property Type Single Family Residence
Price Type --
Nestled in a quiet cul-de-sac of only four homes, this charming Santa Barbara-style transitional residence offers timeless charm, tasteful updates, captivating views of Camelback Mountain and lushly landscaped grounds that are truly an oasis in the desert. The exceptional single level floorplan features 6,467 square feet in the main home with 4 ensuite bedrooms, 6 bathrooms, an office, a generous sitting room off of the primary bedroom, a fitness room, refrigerated wine room, and a 726 sq ft separate guest house. The privately gated driveway provides abundant room for parking in addition to the side-entry 4 car garage. A paver stone walkway leads the way to the home's inviting front entrance. Inside, a striking chandelier adorns the entry foyer, which overlooks the living room with a dramatic floor-to-ceiling chevron pattern stone tile fireplace, wood plank ceiling, and views of the lush backyard. The spacious kitchen is equipped with stainless steel appliances, stone countertops, a large center island, walk-in pantry, and a generous casual dining area. The kitchen flows into the large family room, which is perfect for both relaxing and hosting friends, with gorgeous outdoor views, a corner fireplace, a seated custom wet bar, and a refrigerated wine room with a modern mix of metal, glass and wood. You will love unwinding in the primary bedroom wing of the home. Picture windows frame the view of Camelback Mountain in both the primary bedroom as well as the adjacent sitting room, which is well-appointed with a fireplace and wet bar. The spa-like primary bath offers marble floors, dual vanities, a makeup counter, a walk through shower, a roman tub set in front of a stacked stone fireplace, and an exterior door that opens to a private gated courtyard that encloses a built-in spa. An oversized custom closet and a fitness room complete the primary suite. Adjacent to the primary suite, an executive office with built in shelving and a wood beamed ceiling overlooks the manicured front yard and includes a wet bar, private powder room, and a large walk in closet. On the opposite side of the home, three spacious guest bedrooms each have their own ensuite bathrooms and walk-in closets, ensuring privacy and comfort for all. The 726 square foot guest house, complete with a full kitchen, family room with fireplace, bedroom and bathroom, and its own covered patio, is a comfortable retreat for guests or extended family. Outside, the backyard is an enchanted garden, with mature trees and abundant foliage set against the backdrop of Camelback Mountain. A brick walking path lined with rose bushes and lush hedges traverses the yard from one side to the other. An expansive grassy play area, approximately 90 feet long, offers endless possibilities for outdoor fun. An enormous resort-worthy pool area with multiple water features is positioned perfectly to take in the view of Camelback. A deep covered patio with Chicago brick pavers provides ample room for dining and lounging, and offers a built-in barbeque and pizza oven. Just off of the covered patio is a large gas firepit with plenty of room for guests to gather around on a cool desert evening. This special property is conveniently located within minutes to Scottsdale Rd, Camelback Corridor, unlimited shopping and dining options, golf, and Paradise Valley's finest resorts and spas.

131 Amado Montosa Road Amado, AZ 85645

$6,500,000 - 6Br/8Ba -  for Sale in Na, Amado
New
$6,500,000
6 Beds
8 Baths
5,400 SqFt
Status Active
MLS # 6787073
Property Type Single Family Residence
Price Type --
The 3,787 acre Montosa Canyon Ranch is the premier Gentleman's Ranch in Arizona. It is located 30 minutes south of Tucson in Santa Cruz County spreading out across 627 deeded acres of lush irrigated pastures and rich native grasslands. There are also 3,160 acres of State leased land adjacent to the deeded acreage creating a ranch that is second to none. The ranch is set amid the sweeping landscapes of southern Arizona between Green Valley and Tubac at an ideal 3,100-foot elevation where the days are warm and sunny and the nights cool and clear. With the towering Santa Rita and Tumacacori Mountains as its backdrop, the ranch has been developed to the very highest standards of quality artisan craftsmanship as an exceptional Spanish Colonial equestrian estate.

Sedona AZ 86336

$6,500,000
4 Beds
6 Baths
8,627 SqFt
Status Active
MLS # 6596238
Property Type Single Family Residence
Price Type --
Indulge in luxury and tranquility backdropped by panoramic Red Rock Views at 130 Hidden Meadow Drive. An iconic Sedona Haven, ideally situated on an elevated 1.71-acre lot backing to National Forest and residing in the prestigious neighborhood of Solitude at Seven Canyons. Tucked behind the two gates, this European Villa-style estate offers a private and secluded oasis simply a step above the rest. Meticulously crafted by skilled artisans with recently added conveniences & lifestyle upgrades, the level of craftsmanship and attention to detail is evident throughout. Designed by award-winning architect Terry Kilbane with the interiors designed by Tim Hawkins and constructed by Phil Morris. Enter through the private courtyard to the grand foyer featuring... ...antique Spanish Andalusian tile floors and a circular staircase. Main level living areas include the decadent living room, the formal dining room with dual wine cellars, a recently remodeled gourmet kitchen and a family room all connected to the outdoor terrace with stunning views from every window. The sprawling primary suite is also located on the first level and features a fireplace, access to three private courtyards, custom hand-painted cabinetry, marble and onyx countertops, dual walk-in closets, a separate dressing room, two water closets, separate tub/shower and an outdoor spa. The remainder of the first level offers an executive office/den, laundry room, workout/storage room, and a breezeway to the well appointed attached guest house perched above the three car garage. Take the elevator upstairs where each space has access to a private balcony. You'll appreciate the split floor plan with two en-suite bedrooms, media room & library. Embracing the Sedona Lifestyle, this property creates a peaceful equilibrium with outdoor living just as elaborate as the home itself. Centered around the negative edge pool, newly added outdoor kitchen, and numerous private courtyards, covered patios and sundecks with water features and fountains that beckon you to enjoy Sedona's mild four seasons. Each space is beautifully landscaped and accentuates the panoramic Red Rocks Views. Interior showcases custom doors and windows, French chandeliers, antique limestone fireplaces, Austrian hand-forged metal work, custom cabinetry throughout, and beautiful Spanish marble and French Oak floors. Additional amenities include Butler's pantry, technology conveniences from WiredUp, automatic draperies in the Media Room, radiant in-floor heating, an elevator, and a half bath on each level. See the list of features attached. This property sale includes a Resident's Membership to Seven Canyons Golf Club (A value of $75k+. Ask for details and transfer fee). Every aspect of this exclusive community embodies exclusivity and sophistication. Offering privileges to golf, clubhouse, restaurant, fitness center, pool, and access to Enchantment Resort. Only 5 miles to all other Sedona services. Book a private tour to experience the grandeur of this unique estate and luxury lifestyle in a one-of-a-kind setting.

24046 N 126th Place Scottsdale, AZ 85255

$6,500,000
4 Beds
4.5 Baths
5,476 SqFt
Status Active
MLS # 6717169
Property Type Single Family Residence
Price Type --
New gated community by Camelot Homes... Featuring sweeping mountain vistas and pristine desert surroundings, Shadow Ridge is the ultimate Scottsdale sanctuary. Boasting spacious lots, this follow-up to our award-winning White Horse and Bronco communities combines bright, contemporary design with timeless indoor-outdoor appeal, all in a highly desirable location a stone's throw from Tom's Thumb trailhead. **Home is offered with an 18-month leaseback, and 3-1 Month extensions (if needed).

11070 E Rolling Rock Drive Scottsdale, AZ 85262

$6,500,000
5 Beds
5.5 Baths
7,276 SqFt
Status Active
MLS # 6678211
Property Type Single Family Residence
Price Type --
Sitting at the top of Sunset Canyon this classic home with modern and Tuscan flavor is sure to amaze with incredible views, private cul de sac lot, amazing guest house/ private office, theatre room option, and two separate game/family, or exercise rooms. Oversized garage space with elevator to the main floor. Main floor living with chef's kitchen, family room, wet bar, primary bedroom suite and powder room. Additional bedrooms and multi purpose rooms are on the lower level. Some of the best views in all of Desert Mountain.

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