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 Sub–Index 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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22422 N 99th Lane Peoria, AZ 85383

$585,000

3 Beds

2 Baths

1,867 SqFt

Status Active

MLS # 6762267

Property Type Single Family Residence

Price Type --

This beautiful 3-bedroom, 2-bathroom home in a sought-after community boasts recent updates and a welcoming atmosphere! Featuring updated bathrooms in 2022, this home offers modern convenience. The great room with an open floor plan is complemented by a cool paint tone, creating a cozy ambiance. The interior showcases a beautiful combination of wood-like tile and soft carpet in all the right places. The split primary bedroom offers a walk-in closet for added comfort. The kitchen includes a new dishwasher, pantry, granite countertops, kitchen island, and a breakfast bar, along with plenty of cabinets for storage. Outside, the covered back patio overlooks a low-maintenance private yard with brand new artificial turf, gravel, and trees. Community amenities include a playground, tennis courts, pool & spa, and much more!

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4722 N 76th Place Scottsdale, AZ 85251

$585,000

2 Beds

2 Baths

1,806 SqFt

Status Active

MLS # 6767821

Property Type Townhouse

Price Type --

Beautiful 2 bedroom 2 bath single level charmer in highly sought after Historic Villa Monterey, Old Town Scottsdale's most desirable 55+ community. This home is truly special! Sitting on a highly desirable corner lot, right next to a green belt and across from the architecturally pleasing water fountain. Private front patio is a hidden gem for friendly gatherings; mature landscape, grape vines, and old world feel pavers. Interior is welcoming with hardwood flooring and extended livings space. The faux fireplace adds ambiance. Primary bedroom is customized with sought after walk in closet, side windows, and updated bath. Beautiful solid wood doors. Delightful backyard with custom seating accommodates sleeping under the stars! Small workshop/shed has electric for the hobbyist. Newer Trane 5 ton AC, roof recently recoated. Fresh interior paint. Villa Monterey is zoned Historic, and pride of ownership shows throughout this charming subdivision. Old style lamplights line the streets adding a real ''hometown'' neighborhood feel. Enjoy community pool and spa gatherings. Follow the canal path into Old Town for dining, cocktails, etc. Close to art galleries, spring training, car shows, Hayden Park and waterway; all the wonderful amenities of Scottsdale Living.

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17025 E De Anza Drive Fountain Hills, AZ 85268

$585,000

3 Beds

2 Baths

1,868 SqFt

Status Active

MLS # 6784186

Property Type Single Family Residence

Price Type --

Bring your best ideas to make this home yours. Excellent floor plan with an A/C vented Arizona Room. Double Door Entry leads to Living and Dining Rooms with vaulted ceilings and a view of the well vegetated & enticing back yard. Your choice, to bedrooms on the right or the Kitchen activity area on the left. A spacious open kitchen/breakfast space/family room with fireplace will be your family gathering place. Laundry & 2 car garage (w/Evap cabinets & exterior door) complete the busy side of the home. From the entry to the right will find a spacious main bedroom with walk-in closet & bath with double sinks, separate shower/ tub and private toilet area. BD 2 offers its own door to the guest bath. BD 3 is located at the front of home. Corner lot, front steps w/ rail + handicap acces

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9845 E Pampa Avenue Mesa, AZ 85212

$585,000

4 Beds

2 Baths

2,170 SqFt

Status Active

MLS # 6784380

Property Type Single Family Residence

Price Type --

Situated on an interior n/s lot featuring 4 bedrooms with separate living, family, and formal dining rooms, brand new interior accent paint throughout, updated fans, fixtures and door hardware, Vaulted Ceilings, New Carpet/Pad and Lots of Laminate flooring. Spacious kitchen features an island/breakfast bar, solid surface counter tops, walk-in pantry and stainless steel appliances. Reverse osmosis. Additional cabinets in laundry room. Large owners suite with vaulted ceilings and separate exit to patio. Oversized secondary bedrooms. Step outback to the extended covered patio overlooking a large backyard with pebble-tec pool with new Kool decking, citrus trees and synthetic grass area. RV Gate and 3 car garage with service door. Clean and move-in ready. Elementary school in subdivision.

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7216 W Judy Lynn Lane Peoria, AZ 85382

$585,000

4 Beds

2.5 Baths

2,287 SqFt

Status Active

MLS # 6772487

Property Type Single Family Residence

Price Type --

This inviting 4-bedroom, 2.5-bathroom, 2-story home features recent updates and owned solar with loan assumption! With a family room, great room, and loft, this 2,287 sqft home offers ample living space. Updates include a fully remodeled kitchen in 2024, new flooring in 2021, new A/C and water heater unit in 2022, and fresh exterior paint in 2022, ensuring a move-in-ready experience. The bright and airy interior features tall ceilings and dual-pane windows. The split primary bedroom is conveniently located downstairs and includes a full ensuite bathroom and walk-in closet. The kitchen boasts a walk-in pantry, stunning quartz countertops and an island with a breakfast bar. The backyard has been transformed into an outdoor oasis, complete with a newly built BBQ with a bar, and a gorgeous pool with a waterfall feature and new pool equipment including pool filter (2020), pool pump (2020) and pool vacuum (2021). Don't miss out on this impeccable home!

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25623 S Sossaman Road Queen Creek, AZ 85142

$585,000

3 Beds

2 Baths

1,904 SqFt

Status Active Under Contract

MLS # 6772086

Property Type Manufactured Home

Price Type --

Here it is! Your desert dream! Whether you want farm life or an oasis, this has it all! 3 bed, private den/office, 2 bath, open kitchen and formal dining area. Stainless steel appliances, new blinds, new fans, light fixtures, brand new flooring throughout, exterior/interior paint. Completely remodeled master bath with a large closet, custom walk in shower, LED mirror with several light options and defogging options, fan connects to bluetooth to play music! Fireplace remodeled and custom barn door installed in living room to provide storage. BRAND NEW ROOF! All work done 2022/2023. Fabulous fenced in sparkling pool, 2 custom stalls for any animal built behind pool. Custom walk across bridge built to back land featuring another stall with entire property fenced in.

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18479 W College Drive Goodyear, AZ 85395

$585,000

4 Beds

3 Baths

2,414 SqFt

Status Active

MLS # 6765364

Property Type Single Family Residence

Price Type --

Seller may consider buyer concessions if made in an offer. Welcome to this beautifully designed property, featuring an array of modern amenities. The kitchen is a chef's dream, complete with a center island, accent backsplash, and stainless steel appliances. The primary bedroom is a sanctuary with a spacious walk-in closet and an en-suite bathroom that includes double sinks and a separate tub and shower. Outside, enjoy the covered patio overlooking a fenced backyard with low-maintenance landscaping. This property is a true gem, blending comfort and convenience. Don't miss the chance to make it your dream home!

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8310 E Greenview Drive Gold Canyon, AZ 85118

$585,000

2 Beds

2 Baths

2,406 SqFt

Status Active

MLS # 6780410

Property Type Single Family Residence

Price Type --

Discover your dream retreat on the 12th hole of Gold Canyon Golf Course, offering breathtaking views of the Superstition and Dinosaur Mountains. This home boasts Arizona's natural beauty from nearly every room, including the great room, living room, first master suite, and patio. The kitchen is equipped with elegant granite countertops, a center island, and a breakfast bar for easy entertaining. Enjoy the convenience of dual master suites and an oversized laundry room with custom cabinetry. Relax on the extended covered flagstone patio with ideal north-south orientation. Situated in Mountainbrook Village, you'll have access to a range of community amenities, including pools, a spa, golf course, tennis courts, and scenic biking and walking paths.

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337 N Redrock Street Gilbert, AZ 85234

$585,000

5 Beds

3 Baths

2,494 SqFt

Status Active Under Contract

MLS # 6782724

Property Type Single Family Residence

Price Type --

Move in Before the Holidays! Welcome to this fantastic tri-level home with versatile living spaces, ideal for multi-generational needs. With 5 bedrooms and 3 bathrooms, there's room for everyone. Enjoy the front patio by the fire pit, a perfect spot to unwind. Step inside to freshly painted walls, newer carpet, a welcoming eat-in kitchen with a breakfast bar, and new appliances. Newer water heater and an AC unit that's only a few years old. The lower level features a bedroom, office or yoga studio. A full bathroom, and a huge flex space, ideal as a mother-in-law or teen suite, playroom, or second family room. Enjoy the backyard with a sparkling diving pool and spa. Outdoor enthusiast will appreciate the Western Canal path offering a multi-use trail, perfect for biking, jogging& dog walks Prime Location: Minutes from Downtown Gilbert and an array of fantastic shopping and dining options. Ample Parking: Includes a two-car garage and a widened driveway with extra space for 3 cars.

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11980 N Brewer Road Maricopa, AZ 85139

$585,000

5 Beds

3 Baths

2,000 SqFt

Status Active

MLS # 6787645

Property Type Manufactured Home

Price Type --

Business Meets Horse Property. 2,000+ sq ft home on 3.3 acres, blending modern living and equestrian convenience. Whether you're looking for a peaceful retreat or a business-ready property, this one has it all! Featuring a spacious, open floor plan with 3 large bedrooms and 2 bathrooms, plus a separate laundry area. Every detail has been updated, including brand-new tile flooring, paint, plumbing, cabinets, lighting, and appliances. Step outside onto the back porch, where you can take in stunning mountain views while relaxing in your private bar. 2 additional outdoor guest bedrooms and a bathroom, perfect for hosting visitors. 5 large, shaded horse pens, a hay shed, RV hookup with 30-amp service, irrigation, and crossed fencing for horses and arena. *Cash/private financing only

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3525 N Carlton Street Buckeye, AZ 85396

$585,000

3 Beds

2 Baths

2,132 SqFt

Status Active

MLS # 6786767

Property Type Townhouse

Price Type --

Welcome Home!! This Shea Villa property is tucked away in its own private luxury gated community within Verrado, giving you access to the amenities of both Vallarta and Verrado the walking paths from the house are amazing. Upon arrival you will notice the paved driveway and well-kept landscaping in the front... the backyard is a view lot giving a sense of relaxation, after a long day! As you enter the private courtyard with a custom glass/door, opening to the great room & gourmet kitchen. Featuring multi-slider doors to bring in lots' of natural lighting, custom cabinets, oversized kitchen island for entertaining, all stainless steel appliance this kitchen is a chef's dream! The owners suite was recently updated with new low maintenance flooring, spa shower as well as lot's of storage

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3494 E Gary Way Gilbert, AZ 85234

New

$585,000

4 Beds

2 Baths

2,047 SqFt

Status Active

MLS # 6788703

Property Type Single Family Residence

Price Type --

Nestled in the heart of popular Gilbert, Arizona, this pristine 4-bedroom, 2-bathroom home boasts pride of ownership from its original owners. Freshly painted in October 2023, the exterior radiates curb appeal, complemented by a custom storm door at the entry. Inside, enjoy upgraded tile flooring and a stylish kitchen featuring granite countertops. Situated on a premium lot within the community, this home offers easy access to beautiful neighborhood parks and is just moments from convenient shopping and top-rated hospitals. The refrigerator, washer, dryer, and a gas-plumbed grill are all included, making this move-in-ready gem a perfect choice for families or anyone seeking comfort and convenience in a vibrant location.

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