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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39494 N 105th Street Unit 74 Scottsdale, AZ 85262

$4,850,000
4 Beds
4.5 Baths
5,620 SqFt
Status Active
MLS # 6757276
Property Type Single Family Residence
Price Type --
Discover the epitome of luxury living in this stunning 4-bedroom, 4.5-bathroom new custom home by Black Stone Custom Homes and Graffin Design. This exceptional new build offers a perfect blend of modern design, craftsmanship, and attention to detail. Spanning an open and airy floor plan, the home features a spacious great room with vaulted ceilings, large windows for natural light, and a sleek fireplace as the centerpiece. The gourmet kitchen will include top-of-the-line stainless steel appliances, custom cabinetry, a large island, and a walk-in pantry—perfect for both everyday living and entertaining. Each bedroom is designed as a private retreat, with its own en-suite bathroom. The primary suite will serve as a luxurious haven, complete with a spa-like bath featuring a freestanding tub, walk-in shower, double vanities, and an expansive walk-in closet. The additional bedrooms are equally spacious, offering comfort and privacy for family members or guests. With a second story, The second story of this custom home offers a versatile space that can easily be adapted to meet your needs. Currently designed as a large bonus room, it provides endless possibilitiesa perfect setting for a home office, media room, or game room. For those seeking additional guest accommodations, this space can be seamlessly converted into a spacious guest bedroom offering comfort and privacy for overnight visitors. Outside, the home is set to feature a covered patio ideal for outdoor dining and relaxing. With high-end finishes and customizable options still available, this home by Black Stone Custom Homes and Graffin Design offers a unique opportunity to create your dream living space. A golf membership is available with approval from the membership committee, allowing you to enjoy exclusive access to the community's world-class golf course and amenities. Additionally, a rental home is available for up to two years during the construction of your new custom home, providing a comfortable and convenient living arrangement while your dream home is being built.

9957 E Larkspur Drive Scottsdale, AZ 85260

$4,850,000
4 Beds
4 Baths
4,014 SqFt
Status Active
MLS # 6754138
Property Type Single Family Residence
Price Type --
The unexpected home of your dreams ... with the cool of steel combined with the warmth of wood, walls of glass and lush grass- This is Estate 48. Just like Arizona, the 48th State , Kent Architects and Argue Custom Homes built a strong , unique and warm home that rebels against the expected architecture. Brilliant floor plan featuring wide open entertaining spaces, temperature controlled garages with lounge area with sauna. Oversized storage room with hvac easily can be another bedroom or workout room! Serene pool and sun deck , monster spa , bocce ball and deep covered patios. For a couple or a family, this is PARADISE.

10671 E Hedgehog Place Scottsdale, AZ 85262

$4,850,000
5 Beds
5.5 Baths
6,422 SqFt
Status Active
MLS # 6660987
Property Type Single Family Residence
Price Type --
Discover the epitome of luxury living with this shovel-ready, permitted masterpiece—an unparalleled custom home nestled atop a mesmerizing south-facing 2+ acre view lot in Pinnacle Canyon at Troon North. Boasting an expansive 6400 sqft of living space and an additional 1300 sqft of covered patio, this unique residence encompasses 4 bedrooms, 5.5 bathrooms, and a generously sized 3-car garage—all poised and ready for your enjoyment. Seize the opportunity to personalize your haven by selecting finishes and incorporating bespoke customizations. Designed by the esteemed Urban Design Group, this residence not only exemplifies sophistication but also expedites the construction timeline, saving you over a year in build time compared to starting from scratch. Don't miss the chance to call this extraordinary dwelling your own. It's more than a home; it's a lifestyle waiting to unfold. Act now and make this exclusive dream home yours.

5156 N 45th Place Phoenix, AZ 85018

$4,850,000 - 5Br/5Ba -  for Sale in Camelback Sierra, Phoenix
Open House
$4,850,000
5 Beds
4.5 Baths
4,496 SqFt
Status Active
MLS # 6753530
Property Type Single Family Residence
Price Type --
Welcome to this exquisite 5-bedroom, 4.5-bathroom estate, boasting 4,496 square feet of luxurious living space on a sprawling 0.56-acre lot. This architectural masterpiece, completely rebuilt in 2024, with interiors by Joel Contreras Design, offers unparalleled elegance and comfort. The expansive great room, over 2,000 square feet with 16-foot ceilings, seamlessly blends the living, dining, and family areas and features stunning views of Camelback Mountain, creating an inviting atmosphere perfect for entertaining and relaxation. The gourmet kitchen is a chef's dream, featuring Thermador appliances, Vadara Quartz countertops, Shinnoki cabinetry, a 15.5-foot island, and a convenient pot filler. A versatile bedroom suite on the south side serves as an excellent second primary suite or guest retreat. The primary bedroom includes an en-suite bath, custom closet, and direct access to the stunning heated pool. The front yard features a large pool, outdoor kitchen, and dual gas fireplaces, while the backyard offers a more intimate setting with a private patio and a glimpse of Piestewa Peak. Additional features include a temperature-controlled 4-car garage with epoxy flooring, a well-appointed laundry room with dual washers and dryers, and custom Arcadia commercial-grade sliders throughout. The exterior and interior T&G details showcase durable, medium-textured Red Grandis wood, enhancing the home's timeless appeal.

4414 E Vermont Avenue Phoenix, AZ 85018

$4,839,999
4 Beds
4.5 Baths
4,299 SqFt
Status Active
MLS # 6745148
Property Type Single Family Residence
Price Type --
Discover Modern Desert living in this luxurious home located in the heart of Phoenix's Camelback Corridor. Built in 2021. This contemporary home has 4 bedrooms 4.5 baths, and 2 dedicated offices within its split floor plan. The great room and hallways feature impressive 13.5'-0'' ceilings, creating an expansive and open atmosphere. The chef's Kitchen is perfect for entertaining with top-of-the-line appliances and ample counter space. Car enthusiasts will appreciate the convenience of the four-car garage, while great room and rooftop deck offers breathtaking views of Camelback Mountain. The exposed block work adds architectural charm to the design blending seamlessly with the natural desert landscape. This home offers quick and easy access to explore all that the vibrant city of Phoenix.

9504 N Desert Wash Trail Fountain Hills, AZ 85268

$4,800,000
4 Beds
4.5 Baths
5,607 SqFt
Status Active
MLS # 6774104
Property Type Single Family Residence
Price Type --
Gurczak Luxury Development is proud to present this New Construction Formal Mediterranean Spec Home in the Exclusive Guard Gated Community of Firerock Country Club. This 5,607 Sq. Ft. Home Features 4 Bedrooms w/ ensuite bathrooms, a separate powder room which includes an infrared sauna + a separate Den/Game Room. Each room contains a custom ceiling design - Coffered Ceilings, Floating Ceilings & Ceiling Bands. Oversized 4 Car Garage has ample space for all your toys and includes a bonus storage & workshop area. Estimated completion of January/February 2025.

10023 E Filaree Lane Scottsdale, AZ 85262

$4,800,000
5 Beds
5.5 Baths
5,411 SqFt
Status Active
MLS # 6785079
Property Type Single Family Residence
Price Type --
Golf Membership Available- We are thrilled to announce the commencement of construction on this extraordinary custom home. Receive your full golf membership immediately and enjoy the opportunity to make your selections on finishes —move-in ready in just nine months. Crafted by esteemed builders, Black Stone Development, in collaboration with Graffin Design, this residence promises to be a contemporary masterpiece within the prestigious Desert Mountain community. Highlighted features of the main home include a spacious great room seamlessly connected to a formal dining area, an opulent chef's kitchen, 4 bedrooms, and 4 ½ baths. Ascending to the second level, you'll find a versatile study/lounge, a flex exercise room (with closet space, doubling as a potential 5th bedroom), and an expansive roof deck off. Additionally, a separate casita with a full bath ensures privacy for both homeowners and guests alike. Step into the ultimate outdoor retreat, complete with a magnificent pool and spa, multiple fire pits, serene water features, an outdoor kitchen, and charming patios that perfectly encapsulate the quintessential Arizona lifestyle. Car enthusiasts will appreciate the four-car garage, supplemented with ample storage space. Every detail of this home has been meticulously planned to enhance your living experience. Early buyers will have the unique opportunity to provide input on customization and select interior finishes to tailor the home to their preferences. Don't miss out on this exceptional opportunity to own a piece of Desert Mountain luxury living. Golf membership available at increased price.

4949 E Lincoln Drive Unit 34 Paradise Valley, AZ 85253

$4,800,000
3 Beds
3.5 Baths
4,540 SqFt
Status Active
MLS # 6770188
Property Type Single Family Residence
Price Type --
Step into MONTELUCIA RESORT VILLA 34, a breathtaking masterpiece designed by the visionary TADDEY KARLIN OF BEVERLY HILLS, where every detail has been meticulously curated to deliver a living experience like no other. Nestled on the LARGEST ULTRA- PREMIUM LOT in the exclusive Montelucia Resort, this villa is a one-of-a-kind sanctuary that blends TIMELESS ELEGANCE with CONTEMPORARY LUXURY. From the moment you walk through the doors, you are greeted by UNRIVALED VIEWS of the majestic Camelback Mountain. The villa's design harmonizes beauty and functionality, with a focus on delivering both EXTREME PRIVACY and IMMERSIVE COMFORT. The CUSTOM CURATED FURNISHINGS can offer a truly TURNKEY EXPERIENCE where luxury and sophistication come together effortlessly. Indulge in world-class amenities from GOURMET ROOM SERVICE to THREE EXQUISITE POOLS, and the RENOWNED REJUVINATING SPA, all at your fingertips. Whether entertaining or unwinding, this villa elevates every moment, making it more than just a home  it's a retreat where your lifestyle reaches new heights. Perfect for discerning buyers who seek a harmonious blend of resort-style living and privacy, Montelucia Resort Villa 34 is the ultimate expression of REFINED LIVING in the heart of PARADISE VALLEY.

44030 N Cottonwood Canyon Road Cave Creek, AZ 85331

$4,800,000
5 Beds
6 Baths
5,079 SqFt
Status Active
MLS # 6656613
Property Type Single Family Residence
Price Type --
FANTASTIC NEW PRICE 9/24 NEW MOUNTAINSIDE LUXURY HOME IN THE HILLS OF CAVE CREEK - 10+ ACRES - MESMERIZING CITY LIGHT VIEWS - PRISTINE AND UNOBSTRUCTED DESERT / SAGUARO CACTI / CANYON / MOUNTAIN VIEWS! Nestled near Elephant Mountain and minutes to the incredible Spur Cross Recreation / Conservation Area, this newly constructed 5,079 sq ft luxury custom home has some of the best views in the Valley of the Sun. Rare to find almost 11 acres of pristine natural desert so close to the city! Situated behind both community and private custom driveway gates, this home features 5 ensuite bedrooms, a 5 car garage and is the privacy and quiet that you have been searching for. Careful attention was given to home placement for the jaw-dropping views, sunsets and sun / light exposure. (Continued. . . ) Entering the home through a beautiful 10 ft. iron and glass door, you are immediately hit with views of the hundreds of saguaro cacti, the surrounding desert mountains and downtown Phoenix in the distance. Continue past the enclosed outdoor courtyard to find yourself in the 28 foot tall cathedral ceiling of the barn style great room with giant wood beams and an oversized 60 fireplace with a 100 year old barn wood floor accent wall, creating a gorgeous everyday living and entertaining area. The chef's entertaining kitchen boasts two oversized islands with custom cabinets, beautiful quartz waterfall countertops, Wolf 60 professional double oven range with custom designed hood, SubZero side by side 72 refrigerator / freezer, SubZero wine refrigerator, 2 Cove dishwashers, a Wolf built-in microwave, and oversized farmhouse sink. An impressive butler's pantry with custom shelving, sink, additional refrigerator and Scotsman ice maker, a separate walk-in storage pantry make this kitchen and great room space perfect for gatherings of any size. Open the expansive 35+ feet of sliding glass pocket doors in the great room and kitchen area creating an amazing indoor / outdoor living and entertaining space like no other. The 2,000 sq ft of covered patio wraps around the back and eastern side of the home, giving you endless views and seating areas. From the built-in barbeque that feels like an extension of the kitchen to the two sided, resort style fireplace, pizza oven, and built-in bar area, outdoor entertaining couldn't be easier. The owner's suite is split from the other bedrooms and includes fantastic city light, desert, and mountain views. The suite boasts five large windows, a fireplace with warm floor-to-ceiling wood surround, and an ensuite bathroom with emphasis on a beautiful oversized, glass framed stand alone shower and deep, soaking tub. Passing through to the large, walk-in closet, there is custom built-in cabinetry and a pocket door leading to the laundry room. The laundry room offers plenty of storage and countertop space with two LG front load washers, two LG dryers, built-in collapsible stainless steel drying racks, a dog wash shower, and deep soaking sink. Also in the laundry is an iron Dutch door. Located near the front door and courtyard is an office with a custom, wall length, built-in bookcase. Across the foyer from the office are the four additional bedrooms. They are situated surrounding a common game / bonus room, also featuring an iron Dutch door with access to the back covered patio. Each of the four oversized bedrooms offer beautiful desert, saguaro cacti or mountain views. Walk-in closets with custom shelving, and en suite bathrooms with custom tiled showers with glass enclosures make each bedroom a private suite. The garage can easily accommodate 5 vehicles and currently offers three high speed Tesla charging stations, a water purification system, two tankless smart gas water heaters, a salt system, built-in storage cabinets, and workshop area. The garage floor has custom epoxy coating throughout. The home features a new, private well with a 2,500 gallon underground storage tank and brand new septic system. The well equipment is protected from the elements in its own well house, designed to blend in with the surrounding desert. There is a large, professionally graded lower pad that is perfect for anything you can dream of - a horse barn and arena / turn out, a future casita or in-law suite, sports courts, a resort style pool, extended playground, or car collector and RV garage. Pre-wried for all of the surround sound and smart home features you could want. And not to be missed is the attention to detail in this beautiful home - from the chandeliers and copper lighting fixtures, to the custom barn doors throughout the home and to the highest quality fixtures. It will be hard for you to not get lost in the beauty and tranquility that this home has to offer.

5518 E Sanna Street Paradise Valley, AZ 85253

$4,800,000
4 Beds
4.5 Baths
5,559 SqFt
Status Active
MLS # 6762015
Property Type Single Family Residence
Price Type --
Come check out this GORGEOUS home that is located on the golf course in the coveted Camelback Country Estates! This exquisite 5559 square ft home offers so much! From the gourmet kitchen with 2 Wolf ovens, Wolf cooktop, 2 Asko dishwashers, Subzero Frig/Freezer, custom cabinetry and quartz countertops to the abundance of amenities in this phenomenal home. The highest level of craftsmanship and detail can be found in every inch of this home. Entering the oasis like backyard through the new 16ft sliding glass doors, you're going to feel like you're at a resort. The picturesque surroundings include a stunning new pergola (which has built-in heaters for those chilly Az nights), a sprawling patio, a beautiful pool, a built in fireplace and incredible views. Your buyers won't want to leave!

4796 E Charles Drive Paradise Valley, AZ 85253

$4,800,000
4 Beds
4.5 Baths
4,904 SqFt
Status Active
MLS # 6622192
Property Type Single Family Residence
Price Type --
Designed by award-winning FAIA architect Eddie Jones of Jones Studio and fabricated by premier builder The Construction Zone, the artful fusion of modern materials, integrated into the pristine Sonoran desert is an inspired vision brought to life. Unwind with expanded mountain views and city lights to rejuvenate your soul every day throughout the years! The unmistakable inspiration of Frank Lloyd Wright and the Modernism of Jones Studio are perfectly expressed in this fine residence positioned hillside above Tatum Blvd. Facing sweeping vistas on the eastern horizon, floor to ceiling glass captures superlative views of the McDowell Mountains! The many details of the home are reminiscent of the fit and finish of a luxury yacht and yearn to be experienced for full appreciation. Surrounded by views, the home is set on 1.76 acres for privacy and has been substantially upgraded since 2019. Superbly crafted with a unique blend of masonry, steel, wood and glass: the quality of the build is evident throughout. Your epicurean kitchen is equipped with a full array of the finest Miele appliances and caters to the foodie and connoisseur alike. Top-of-the-line major systems of the home include: recently upgraded and customizable Crestron security system for complete convenience, automated window shades, variable-speed HVAC, highly upgraded EV charging over-sized 3 car air-conditioned garage, recently installed premium whole house water system, recirculating tank-less gas fired water heaters, added floor level heated vents in primary bath, lighted vanity mirrors, organizational electric plug drawers, luxurious towel warmer, elegant control systems, built in shower trays for flow and continuity. LED lighting through-out, pre-wired for sound, recent new pool system equipment installed, conversation area warming fire and so much more. A list of designer furniture will be sold with the home. The primary bedroom has been transformed with deluxe closet cabinetry, dressers, side tables, designer pulls and low-profile ambience lighting and a customized complete king bed system beyond compare. Luxury extras you expect in a fine property have also been added to the primary bath. There is a music/reading room also on the main floor. Completely redesigned, the laundry/pantry area is now an upscale, highly-functional favorite workspace. The lower level has 3 en-suite bedrooms with beautiful views, a fitness/yoga room and a media lounge space with patio access. The largest en-suite bedroom also has a separate patio entrance and could be a second primary. Panoramic mountain vistas with hanging clouds, picturesque skies and the most gorgeous sunrises, this is truly an inspirational property to be experienced.

9030 N 48th Place Paradise Valley, AZ 85253

$4,799,000
6 Beds
6.5 Baths
8,420 SqFt
Status Active
MLS # 6722994
Property Type Single Family Residence
Price Type --
Set in a quiet cul de sac in the coveted 3C's school district, this impressively remodeled PV estate boasts 6 generously sized en suite bedrooms & 6.5 baths, including attached casita with full kitchen and sep entrance + attached LL guest suite with lounge and fitness room, ideal for multi-generational living! Upon entering, guests are greeted by soaring 20 ft ceilings, a formal living room, a central kitchen bathed in natural light, an office, multiple dens for relaxing movie watching, and an immense great room for large scale entertaining! Mountain Views abound in the stunning backyard w/pool, spa, outdoor kitchen, firepit and many gracious conversation patios. Car enthusiasts will love the massive 5-car garage space (2 w/hvac) . One of the LOWEST priced remodeled homes per sq ft in Paradise Valley, priced well below appraised value! This home offers the perfect blend of expansive, upscale, yet comfortable living!

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