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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8212 E Tortuga View Lane Scottsdale, AZ 85266

$3,250,000
3 Beds
3.5 Baths
4,197 SqFt
Status Active
MLS # 6768265
Property Type Single Family Residence
Price Type --
Sited on one of the best lots in Whisper Rock's Villas neighborhood, offering unmatched views, privacy, timeless architecture & thoughtful design * Private entry courtyard with heated plunge pool & mature landscaping * Detached guest casita * Open floor plan is ideal for entertaining: Chef's kitchen with wet bar & casual dining; adjacent family room with stone fireplace & disappearing wall of glass doors; formal dining with temp-controlled wine room opening to front courtyard; office/den with built-ins & access to the back patio; dual master suites * Incredible back yard with generous covered patios, gas fire pit & fireplace, built-in BBQ island *

88 N Country Club Drive Phoenix, AZ 85014

$3,250,000
5 Beds
7 Baths
5,639 SqFt
Status Active
MLS # 6777151
Property Type Single Family Residence
Price Type --
Welcome to Manor 88- a timeless retreat nestled within the heart of vibrant downtown Phoenix, yet offering serene seclusion behind the private gates of the renowned and historic Phoenix Country Club. Upon arrival you are warmly greeted by an expansive brick driveway and tree-filled lawn that frame your view of a charming extended front porch, a perfect spot for an early morning coffee or evening conversations. Meticulously renovated, this 1947 classic offers a sprawling floor-plan bathed in natural light and accented by warm oak hardwood floors throughout. You'll discover spaces designed for both intimacy and entertainment, from the built-in living room bar and floor to ceiling brick gas fireplace to the versatile game/gym/study/movie room along with an office and 4 other generously sized en-suites that ensure comfort and privacy. The grand chef's kitchen features top-of-the-line appliances, granite and quartz counters, brick backsplash, ample storage, solid wood cabinetry and many designer details offering both beauty and function. Off the kitchen, discover the laundry and mudroom, complete with custom cabinetry and a built-in fridge that leads you through a gorgeous light filled hallway to your primary retreat. The dining room opens to an expanded courtyard through elegant pocketed doors and overlooks multiple seating areas, a crafted swing set, a spa and a full grass field, providing endless opportunities for outdoor enjoyment and entertainment. This reimagined European farmhouse style home is complete with owned solar panels, an epoxied 3-car garage, and numerous updates throughout to combine classic charm with modern conveniences. Located near the clubhouse and just moments from the city's heart, this property isn't just a house - it's a warm, inviting home ready for your next chapter.

7330 E Arroyo Seco Road Scottsdale, AZ 85266

$3,250,000
4 Beds
6 Baths
6,460 SqFt
Status Active
MLS # 6609535
Property Type Single Family Residence
Price Type --
This very unique home is located in the Estate Lots at The Boulders. A custom steel gate of desert motif welcomes you into the front courtyard. The massive carved front doors feature a relief of a large multi-branched tree. The living Room has a 2 story ceiling and a beautiful winding stairway to the Family/Game Room with wet bar and bathroom located upstairs. Enjoy the mountain and golf course views from the balcony. The large kitchen opens to a family room with a fireplace, wet bar and entertainment center built-in cabinets. All guest rooms have their own baths. The Master Bedroom is a generous approximate 21 X 21 square feet with a huge walk-in closet. The pool patio area offers total privacy for relaxing or entertaining. The adjacent lot is also available for purchase. includes a boundary and topographic survey, a schematic site plan and schematic floor plan.

25002 N Quail Haven Drive Rio Verde, AZ 85263

$3,250,000
6 Beds
6.5 Baths
6,868 SqFt
Status Active
MLS # 6707772
Property Type Single Family Residence
Price Type --
If you are looking for peace and serenity and room to breathe, this is the house for you! Don't miss this rare opportunity to own a piece of paradise in the wonderful Rio Verde golf community. Situated on over 1.5 acres (17,598 sq ft adjacent lot included) and bordering The McDowell Mountain Park, this privately gated property offers ultimate privacy. The main house features two primary suites and three secondary en-suite bedrooms. The spacious kitchen with a butler's pantry is a chef's dream. A double-sided fireplace separates the large great room and dining area. Additional highlights include a 1,073 sq ft guest house, a 2,300 sq ft pool house with a 980 sq ft heated pool and spa, nine patios including a rooftop patio with 360-degree views, and multiple desert gardens. The custom exterior lighting package ensures you can enjoy the entire property at all times. The adjacent lot, also included in the sale, can be sold and built on. The Rio Verde community offers a golf course, state-of-the-art community center, tennis courts, restaurant, Community Church, and post office. This is truly a unique and exceptional property!

13463 N Stone View Trail Fountain Hills, AZ 85268

$3,250,000 - 4Br/5Ba -  for Sale in Adero Canyon Parcel 1, Fountain Hills
Open House
$3,250,000
4 Beds
4.5 Baths
3,760 SqFt
Status Active
MLS # 6774845
Property Type Single Family Residence
Price Type --
Turnkey gated Fountain Hills home in the Adero Canyon community. This modern lock and leave features open concept living with 15' ceilings in the great room with a fireplace, stunning chandelier over the dining area, and expansive kitchen. Chef's kitchen includes stainless steel Sub-zero and Wolf appliances, multiple ovens, and kitchen island. Primary suite features mountain views with freestanding bathtub, oversized shower, dual sinks, enclosed toilet, and walk-in closet with custom storage and vanity. Open the expansive sliding glass doors to experience the best of Arizona's indoor/outdoor living. Bask in soaring mountain views while entertaining family and friends in your backyard with a separate guest house, custom pebbletec pool with Baja shelf, travertine decking, covered patio, and desert low maintenance landscaping and turf. This privately gated quiet community has gorgeous views and biking, jogging, and hiking trails to enjoy year-round.

5825 E Cochise Road Paradise Valley, AZ 85253

$3,250,000 - 4Br/5Ba -  for Sale in Country Estates Unit 2a, Paradise Valley
Open House
$3,250,000
4 Beds
4.5 Baths
3,729 SqFt
Status Active
MLS # 6747881
Property Type Single Family Residence
Price Type --
Desert contemporary 2024 new build! Experience Paradise Valley's resort style, tranquil living in this 4 bed, 4.5 bath estate. With natural light beaming in through 2 walls of sliding doors, home boasts modern and clean design elements with open concept great, dining, and kitchen. Custom two-toned wood cabinets, oversized 2-tier kitchen island, and with stainless steel Wolf appliances, including gas cooktop, multiple ovens, coffee bar, and a wine fridge, creating a chef's dream kitchen. Primary suite includes private sliders to the backyard, dual sink vanity, soaking tub, oversized shower, enclosed toilet, and incredible walk-in closet with custom cabinetry. Entertain family and friends in the backyard with custom pool with expanded pool deck, built-in BBQ, covered patio, turf and desert landscaping or front yard with additional covered patio perfect for lounging and dining. Additional features include 3 en suite guest bedrooms, 4 car garage, RV gate, and builder warranty. Located minutes away from Paradise Valley and Scottsdale's top resorts, golf, dining, and shopping.

39402 N 67th Place Cave Creek, AZ 85331

$3,249,000
4 Beds
6 Baths
5,312 SqFt
Status Active
MLS # 6775546
Property Type Single Family Residence
Price Type --
Discover your ultimate desert oasis, a quiet, peaceful, and luxurious 5,312 sq ft retreat surrounded by iconic saguaros and endless desert vistas. Set on 2.1 meticulously landscaped acres, this stunning home was fully rebuilt and expanded in 2020, featuring modern upgrades like plumbing, electrical systems, and state-of-the-art amenities. With two owned water softeners, a propane tank, RO system, and ADT security, every detail has been considered. Step into elegance with four ensuite bedrooms, 4 full bathrooms and 2 half baths, and masterful craftsmanship throughout. A wall of Fleetwood thermopane windows greets you upon entry, revealing breathtaking views. The open-concept gourmet kitchen and great room is an entertainer's dream, boasting leathered granite countertops, a Miele range, and Dacor column fridge and freezer, built-in Miele coffee maker, and custom cabinetry. The expansive U-shaped island, with seating for eight, is perfect for gatherings. A spacious walk-in pantry, complete with washer/dryer hookups and floor-to-ceiling cabinetry, offers ample storage. Relax by the three-sided gas fireplace, whether you're dining or enjoying one of the two cozy living areas. Automated shades provide comfort and privacy at the touch of a button. Retreat upstairs to your luxurious primary suite, featuring a tranquil sitting area, unique granite accent wall, custom furniture, a private balcony with panoramic views and direct access to the pool area. The spa-like bathroom includes custom cabinets, quartzite and marble finishes, and a two-person digital steam shower with body sprays. The large split two-sided closet, complete with washer/dryer hookups, makes the space entirely self-sufficient. On the main floor, you'll find an office and additional bedrooms, including a second primary suite with a wood-burning fireplace, walk-in closet, and a bathroom overlooking a beautiful painted courtyard. There's also a flexible space ideal for a gym or second office. High-end finishes abound, including designer lighting fixtures, custom Italian doors, and intricate steelwork. Outside, the resort-style backyard awaits with a Pebble Tec diving pool, cascading waterfalls, and a shaded ramada. The outdoor kitchen includes space for a BBQ set up and a granite island with a sink and fridge. Enjoy evenings around the custom gas fire pit or unwind in the private hot tub, surrounded by lush gardens and a courtyard adorned with a hand-painted mural. This home also features a four-car, temperature-controlled garage with epoxy floors, a horse corral, tack room, and ample land for future expansionswhether you're dreaming of a guest house, sports courts, or additional horse facilities. This Arizona paradise offers unmatched luxury and endless possibilities.

4849 N Camelback Ridge Road Scottsdale, AZ 85251

$3,225,000
2 Beds
3 Baths
2,594 SqFt
Status Active
MLS # 6681503
Property Type Apartment
Price Type --
Tucked at the base of revered Camelback Mountain, Ascent is a new, private residential enclave adjacent to The Phoenician Resort - one of Arizona's premier luxury resort destination. This community incorporates the Sonoran Desert landscape directly into its design, at the most enviable location in Scottsdale. Ascent offer views overlooking the Valley & Camelback Mountain. Home designs feature contemporary architecture integrating warm, natural materials, expansive windows, and large outdoor patios. Thoughtfully designed by Nelsen Architects and Vallone Interior Design. Luxury finishes include exquisite Bulthaup Kitchens, Provenza wood floors, Sub Zero Wolf appliances & 10' ceilings.

875 Rim Drive Pinedale, AZ 85934

$3,200,000
16 Beds
8.5 Baths
10,823 SqFt
Status Active
MLS # 6732458
Property Type Single Family Residence
Price Type --
Once in a lifetime opportunity! Located in the White Mountains and surrounded by USFS property, this 60-acre property has everything you are looking for. Adorned with mature ponderosa pines, fruit trees, pastures, and Pinedale Wash running through. Currently used as a Family retreat, there are many possibilities from company retreat, dude ranch, rentals, and much more. The property has been well cared for over the years and has many upgrades. The picturesque views from every home, lawns, playground, fire pit, are just a few of the things you'll fall in love with. With 4 separate houses, one of which is duplex, there's plenty of room for everyone. The main house has 5 bedrooms and 3 baths with an open floor plan. The large living room is great for gatherings and the kitchen is perfect for entertaining and making memories with friends and family. The Guest house has 4 bedrooms, 2 baths, and an extra-large kitchen and great room: a perfect place for family gatherings. The Caretaker's home and the duplex add an additional 7 bedrooms and 3.5 baths. In addition, there is also a 2200 square foot stable with a fenced in corral. Pastures are fenced in to allow for grazing, and a variety of equipment is available. The private well provides plenty of fresh water for all the homes and additional water lines running through the property.

1575 S 155th Street Gilbert, AZ 85296

$3,200,000 - 5Br/7Ba -  for Sale in Ray Road & 154th Place, Gilbert
Open House
$3,200,000
5 Beds
7 Baths
5,667 SqFt
Status Active
MLS # 6754626
Property Type Single Family Residence
Price Type --
Luxurious newly built & professionally designed masterpiece! This stunning home offers 5 generously sized bedrooms & 7 exquisite bathrooms, including a unique bedroom w/ a private outside entrance, perfect for guests/extended family. The state-of-the-art kitchen is a culinary dream, featuring top-of-the-line Wolf & Sub-Zero appliances, complemented by elegant finishes & ample counter space. A dedicated teen room adds versatility, while foam insulation ensures exceptional energy efficiency. Step outside to your own private oasis, complete w/ two sophisticated firepits, a sprawling pool & a rejuvenating spa. The meticulously landscaped front & back yards create a seamless blend of beauty & functionality. Located near major roads & highways, this home offers easy access to key amenities. Enjoy proximity to vibrant downtown Gilbert, renowned for its dining, shopping & entertainment options. Additionally, nearby facilities include top-rated schools, scenic parks & recreational areas. This residence combines opulence w/ convenience, making it the ultimate retreat for both entertaining & relaxing.

25505 N 114th Street Scottsdale, AZ 85255

$3,200,000
4 Beds
4.5 Baths
4,113 SqFt
Status Active
MLS # 6565469
Property Type Single Family Residence
Price Type --
New custom coming in Troon Mountain Estates! This gorgeous, soft contemporary home to-be-built has approximately 4113 square feet, 4 bedrooms, 4.5 baths, including a 679 square foot one bedroom/one bath separate casita, plus an open kitchen with butler's pantry, a great room, game room/den and walls of glass overlooking spectacular views of the McDowells, 4 Peaks and city lights from the top of a 20,000+ sf lot in gated Troon Mountain Estates. The main house is all on one level/no stairs, including the 3 car garage, except for steps down to the casita, infinity pool and spa.

26782 N Donna Place San Tan Valley, AZ 85144

$3,200,000
3 Beds
2 Baths
2,577 SqFt
Status Active
MLS # 6679447
Property Type Single Family Residence
Price Type --
Some properties have to be seen to be believed. Welcome to The Arthouse, the Valley's best kept secret. Having operated as a luxury destination wedding venue in recent years, this home presents an exceedingly rare opportunity to enjoy modern living among natural, undisturbed desert. Winding desert roads scattered with saguaro cacti and picturesque mountain views lead you through San Tan Mountain Regional Park, to a property where peace, calm and serenity envelop all who enter. At this one-of-a-kind retreat, the current stewards have lovingly and carefully crafted every inch of this property's 3.3+ acres to maximize desert dwelling in a secluded setting surrounded by untouched state park land - offering privacy that no other property in the Phoenix metro area can come close to. Each evening, painted skies abound for you to enjoy sunset from the wraparound deck - this property has been designed for those who simply cannot compromise on the joys of outdoor living. The interior of the home is the ideal blend of comfort and cozy with a South Western twist. Prepare meals in the gourmet kitchen - complete with butcher block island, modern cabinetry and farmhouse-style sink. The exclusive owner's retreat will rejuvenate your soul - gas fireplace and soaking tub. In addition to the main home, don't miss the separate suite plumbed for a bathroom with it's own private entrance, which has in recent history served as a bridal suite. You will not find a home that soothes you in a way that The Arthouse does, while offering all the indulgences of modern living.

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