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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3812 W Antelope Way San Tan Valley, AZ 85144

$573,995

3 Beds

2.5 Baths

2,129 SqFt

Status Active

MLS # 6784584

Property Type Single Family Residence

Price Type --

This beautiful home was crafted for the way you live. The gourmet kitchen makes a statement with its premium finishes, upgraded cabinets, and stainless steel appliances. The open-concept great room is the perfect atmosphere for entertaining, with connectivity to the dining area and expansive views of the outdoor living space. The expansive flex room is conveniently placed off the foyer, providing plenty of space for entertaining. The resort-style amenities in this community will make your family feel they're on vacation year-round. Experience the luxury you've always wanted today.

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1380 W Golden Ore Pass Apache Junction, AZ 85120

$573,990

4 Beds

3 Baths

2,524 SqFt

Status Active

MLS # 6781906

Property Type Single Family Residence

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Welcome to Blossom Rock! The east valley's newest master planned community. With views of the Superstition Mountains and a wealth of amenities currently in the making including three community parks, dozens of neighborhood parks, a community school, miles of trails, beautiful lakes, and indoor and outdoor gathering spaces all meant to serve as the backdrop of the calendar of signature events and annual celebrations currently being created. A public report is available on the Arizona Department of Real Estate website.

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8300 E Vía De Ventura Boulevard Unit 1015 Scottsdale, AZ 85258

$573,900

2 Beds

2 Baths

1,442 SqFt

Status Active

MLS # 6750386

Property Type Townhouse

Price Type --

Come see this move in ready condo in gated Lakeside Villas at McCormick Ranch! This home wood plank tile flooring plantation shutters and upgraded lighting fixtures and fans throughout. The living room has a reclaimed wood detail fireplace and high ceilings with lots of natural light. The kitchen features soft close cabinets and drawers, Quartz countertops and new stainless steel appliances. New Quartz countertops in the bathrooms as well. The primary bedroom has an ensuite bathroom and spacious walk in closet. Inside laundry and a singel car detached garage. Community amenities include pool/spa, walking/biking path and lake views. Close to lots of shopping, fine dining, golf and easy freeway access. Must see

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2529 W Florentine Road Phoenix, AZ 85086

$573,900

4 Beds

3.5 Baths

2,483 SqFt

Status Active

MLS # 6764475

Property Type Single Family Residence

Price Type --

PRICED TO SELL! Fantastic opportunity to own this beautiful Tramonto home in sought after Desert Hills! This open concept home features a kitchen with custom cabinets, granite counters, breakfast bar, SS appliances that overlooks the great room and dining area. Two spacious master bedrooms. One with large jacuzzi tub and separate shower and the other boasts a private master retreat that's sure to please guests and family. 20x20 diagonally laid tile and newer carpet. Spacious den/office, 1/2 bath and laundry room downstairs. Tramonto community amenities include basketball courts, 2 community pools, jacuzzi, walking/bike trails and is close to excellent schools, restaurants, shopping, TSMC campus and the I-17.

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1502 Oregon Avenue Prescott, AZ 86305

$573,818

2 Beds

3 Baths

2,125 SqFt

Status Active

MLS # 6731974

Property Type Single Family Residence

Price Type --

Nestled in the serene Oregon neighborhood on the coveted West side of Prescott, Arizona, this 2125 sqft two-story home epitomizes eco-friendly living. Situated gracefully alongside a tranquil creek, protected by towering granite boulders, this residence is a sanctuary for those who cherish comfort and sustainability. Step inside to discover an incredible conservatory, complete with heating and cooling, offering a year-round connection to nature's beauty. Imagine soaking in a jetted tub or simply relaxing in this serene space, which includes a connected half bathroom. During winter, imagine placing your bed here and gazing up through the glass ceiling as snow gently falls around you—an experience reminiscent of sleeping in an igloo under the stars. The home boasts a Trombe Wall, ... ... ... harnessing passive solar energy for efficient heating and cooling. Supplementing this green ethos are solar hot water panels with electric backup, an old unregistered well, and multiple large water storage tanks, ensuring self-sufficiency even in the driest months. Warmth and ambiance abound with furnace-rated fireplaces complementing a cozy wood-burning hearth, perfect for chilly Prescott evenings. Outside, the property is ensconced in natural beauty, seamlessly blending into majestic Granite Boulders topped by a durable metal roof and freshly painted exterior. Additional features include a detached two-car carport, multiple sheds for storage, and an attached carport. For the discerning buyer seeking a harmonious blend of luxury and environmental stewardship, this Green Home in Prescott's Oregon neighborhood is a rare gem waiting to be discovered.

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5053 S Laguna Avenue Sierra Vista, AZ 85650

$573,500

5 Beds

2.5 Baths

3,673 SqFt

Status Active

MLS # 6763911

Property Type Single Family Residence

Price Type --

Solar was added to eliminate high electric bills- solar loan to be assumed by new owner. Escape to your private oasis and grand estate. This property boosts more than you can even imagine. Entry is enclosed with bright light inviting windows then you enter your home through brand new custom doors to an abundance of space starting with a formal dining room and living room with a 2-sided fireplace - you will notice new wood laminate floors. Kitchen fit for a chef - Kitchen Aid appliances, wall oven, huge island with cook top, granite counter tops and newly refinished cabinets. Just off the kitchen is eat in dining area, guest bathroom and bedroom AND your private sauna room. Heading to the upper level is 2 additional guest bedrooms and your primary suite. Heading to the upper level is 2 additional guest bedrooms and your primary suite. Outside - welcome to your resort enjoy a private pool and hot tub within the primary yard but wait there is more with over 1 acre of land bring your toys, horses or pets with ample space and additional storage building that could be used for whatever you need. You don't want to miss the opportunity to own this 1 of a kind home. You will also find a very large bonus space, with wall-to-wall windows to take in all the beautiful views of the area. Use for your games, living, hobby etc. room the possibilities are endless.

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17279 W Dartmouth Street Surprise, AZ 85388

$573,500

2 Beds

2 Baths

1,530 SqFt

Status Active

MLS # 6763149

Property Type Single Family Residence

Price Type --

COME SEE THIS SMITHFIELD SPANISH HOME NESTLED ON A CORNER LOT WITH AMAZING MOUNTAIN VIEWS AT STERLING GROVE GOLF & COUNTRY CLUB IN SURPRISE, ARIZONA! IMMACULATE HOME WITH GREAT ROOM OPEN FLOOR PLAN, 10' FOOT CEILINGS, TILE FLOORING THROUGHOUT, GORGEOUS CHEF'S KITCHEN WITH GAS COOKTOP, BUILT IN WALL OVEN AND MICROWAVE, KITCHEN ISLAND WITH QUARTZ COUNTERTOPS, BEAUTIFUL KITCHEN CABINETS, BACKSPLASH AND MORE! MASTER BATHROOM WITH HIS & HER SINKS, WALK-IN SHOWER, AND WALK-IN CLOSET. SPACIOUS BACK PATIO AND YARD TO ENTERTAIN FAMILY & FRIENDS! Sterling Grove Golf & Country Club is a Gated Community w/24 Hour Guard Post. Great Opportunity to Enjoy on a daily basis so many Wonderful Amenities and Beautiful Views of the White Tank Mountains, Lakes, Ponds and Gorgeous Greens on your Walks, Jogs, Bike Rides! Amenities: TROON Managed Jack Nicklaus Design 18 Hole Golf Course, Tennis Courts, Pickleball Courts, Country Club, Resort Style Pools, Fitness Center, Spa, Restaurants, and Much More!

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7950 E Queensborough Avenue Mesa, AZ 85212

$573,315

4 Beds

2 Baths

1,832 SqFt

Status Active

MLS # 6676004

Property Type Single Family Residence

Price Type --

MLS6676004. Ready Now! PRICE REDUCTION! The Edmonton at Hawes Crossing Discovery presents a charming single-story residence boasting 4 bedrooms, 2 baths, a 2-car garage, and two dining areas. As you step inside, the foyer effortlessly guides you towards the dining and kitchen space, providing abundant room for culinary endeavors. Revel in the spacious and welcoming ambiance of the casual dining and great room area, seamlessly connected to the outdoor living space and backyard, perfect for hosting gatherings. The generously proportioned primary suite offers a serene retreat with its private bathroom featuring double sinks and a walk-in closet. Structural options include: paver front porch, garage service door, and extended owner's suite.

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374 E Citrus Hollow Way Queen Creek, AZ 85140

$573,088

2 Beds

2.5 Baths

1,678 SqFt

Status Active

MLS # 6605086

Property Type Townhouse

Price Type --

Welcome to a brand new Valletta model. It has an expansive layout and this home is illuminated by an abundance of natural light. The kitchen stands fully equipped with modern stainless steel appliances and elegant granite countertops. With a culinary connoisseur's dream at its heart, including a gas cooktop, it's an ideal setting for hosting and delighting your guests. Both bathrooms have undergone exquisite upgrades, featuring tile surrounds and elevated fixtures. A few upgrades include quartz countertops at kitchen and bathrooms, huge sliding door at patio, gourmet kitchen appliances and a large smart space. Start living the good life at Encanterra today!

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16380 W Avenida Del Sol -- Surprise, AZ 85387

$572,995

3 Beds

2.5 Baths

2,500 SqFt

Status Active

MLS # 6701706

Property Type Single Family Residence

Price Type --

The gorgeous Cassandra floor plan offers 10-foot ceilings with a tray at entry, gourmet kitchen with quartz countertops and 42 inch cabinets, a huge walk-in pantry, a multi-slide door at great room and a slider at Nook, walk-in Shower with rain shower, and pavers at driveway/walkway, the lot is nearly 8000 square feet and it is North/South exposure.

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11934 W Parkway Lane Avondale, AZ 85323

$572,995

5 Beds

3 Baths

2,370 SqFt

Status Active

MLS # 6741556

Property Type Single Family Residence

Price Type --

Explore this dynamic Raleigh home, ready for quick move-in on a homesite boasting driveway pavers and front yard landscaping. Included features: an inviting covered entry; an impressive guest suite; a gourmet kitchen offering 42'' cabinets, quartz countertops, stainless-steel appliances, a double oven, a walk-in pantry and a center island; an open dining area; an expansive great room with center-meet doors leading onto a charming covered patio; a beautiful primary suite showcasing an immense walk-in closet and a private bath with cultured marble countertops; a convenient laundry; a mudroom and a 3-car garage. This home also offers stone tile flooring, additional windows and ceiling fan prewiring in select rooms as well as airy 10' ceilings throughout.

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11937 W Parkway Lane Avondale, AZ 85323

$572,995

3 Beds

2.5 Baths

2,400 SqFt

Status Active

MLS # 6760074

Property Type Single Family Residence

Price Type --

Explore this eye-catching Celeste home, ready for quick move-in on a homesite boasting driveway pavers and front yard landscaping. Included features: an inviting covered entry; a gourmet kitchen offering 42'' cabinets, quartz countertops, stainless-steel appliances, a double oven, a walk-in pantry and a center island; an open dining area; a large great room boasting center-meet doors leading onto a tranquil covered patio; an elegant primary suite showcasing an expansive walk-in closet and a private bath with cultured marble countertops; a convenient laundry; a mudroom and a 3-car tandem garage. This home also offers additional windows and ceiling fan prewiring in select rooms as well as airy 10' ceilings throughout.

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