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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9854 W Ross Avenue Peoria, AZ 85382

$565,000

4 Beds

2 Baths

1,828 SqFt

Status Active

MLS # 6678518

Property Type Single Family Residence

Price Type --

Welcome Home! This 4-bed, 2-bath home sits on a huge 15,284 Sq. Ft. lot! The home offers vaulted ceilings, a freshly painted interior, tile and laminate flooring throughout. Be greeted upon entry to a gracious amount of living space. The owner's suite boasts a walk-in closet and private bathroom offering dual sinks with a separate shower and tub. The eat-in kitchen features granite countertops, a breakfast bar, stainless steel appliances and plenty of natural lighting. Make your way out back to an above ground hot tub and a SPARKLING PEBBLE FINISH POOL entirely resurfaced in 2022. Relax comfortably under the paved and extended covered patio. Here you will be conveniently located just minutes from Peoria's most popular shopping, dining and entertainment spot

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19403 N Ponderosa Court Surprise, AZ 85387

$565,000

2 Beds

2.5 Baths

2,300 SqFt

Status Active

MLS # 6772861

Property Type Single Family Residence

Price Type --

CHARMING MISSION MODEL WITH GREAT CURB APPEAL. HOME FEATURES STACK STONE FRONT, FRESHLY PAINTED EXTERIOR AND COATED WALKWAY. 2.5 GARAGE, NEWER HVAC, NEWER HOT WATER HEATER, NEW 6080 SLIDING PATIO DOOR JUST TO NAME A FEW UPDATES. PREMIER LUXURY KITCHEN-GRANITE COUNTERS, CHERRY CABINETS, CROWN MOLDING , SLIDE OUT SHELVES, UPPER LIGHTING, SOLAR TUBE, ELECTRIC COOK TOP, BAY WINDOW IN KITCHEN NOOK AND PRIMARY BEDROOM. GREAT ROOM CUSTOM FAUX STONE MEDIA WALL,,ACCENT LIGHTING. LUXURY PRIMARY BATHROOM WITH SOAKING TUB AND SHOWER STALL. OFFICE/FLEX ROOM NO BUILT-INS SO YOU CAN DESIGN. FLOORING IS TILE, NEW LAMITE FLOORS & CARPET. PATIO COVERED AND EXTENDED WITH FLAGSTONE.

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11995 E Pivot Peak -- Gold Canyon, AZ 85118

$565,000

3 Beds

2.5 Baths

2,230 SqFt

Status Active

MLS # 6699719

Property Type Single Family Residence

Price Type --

3 car tandem garage w/ 8' door & lots of storage! 3 bed 2.5 bath energy efficient house in Master-planned community of Peralta in Gold Canyon. Immaculate w/ countless upgrades! Chef's kitchen features gas cooktop, maple cabinets w/ double roll-out shelves & soft-close drawers, granite counters, pendant lights & walk-in pantry. Every bedroom has walk-in closets w/ extra shelves. Upgrades include: 36'' vanities, fixtures, ceiling fans, tile throughout, extra storage area, dedicated laundry room, extended covered patio & more! Low maintenance yard w/ storage shed. Community parks, pickleball & basketball courts, covered picnic area w/ grill, corn hole, horseshoes, fire pits under twinkle lights, walking trails, children's play area. Peralta Trails Elementary School is in the community.

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15829 N 168th Avenue Surprise, AZ 85388

$565,000

5 Beds

3 Baths

2,873 SqFt

Status Active

MLS # 6715613

Property Type Single Family Residence

Price Type --

Stunning two-story residence offering 5 spacious bedrooms and 3 full bathrooms, situated on a large cul-de-sac lot. This home combines elegance with functionality. Dramatic ceilings and decorative archways add a touch of sophistication & grandeur to the living spaces and the host of modern amenities. Enjoy elegant gatherings in the formal living & dining rooms. The kitchen is a chef's delight, featuring ample counter space, modern appliances and opening to the family room, perfect for relaxing while socializing with the cook! Durable & stylish laminate flooring runs throughout the home, except for the stairs, providing an easy-to-maintain living environment. A convenient bedroom & full bathroom on the ground floor offer flexibility, Transferable Home Warranty in place! for guests, in-laws, or a home office. Upstairs and away from the downstairs activity, is the spacious primary suite, offering a private retreat with plenty of room for a sitting area or home office. The en-suite bathroom features double sinks, a separate shower and a luxurious soaking tub, perfect for unwinding after a long day. A large walk-in closet provides abundant storage for all your wardrobe needs. The home is situated on a generous cul-de-sac lot providing a private and spacious outdoor area with a heated pool and spa for relaxation or hosting outdoor gatherings.

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36038 N Puente Alto Avenue San Tan Valley, AZ 85140

$565,000

2 Beds

2 Baths

1,769 SqFt

Status Active

MLS # 6717592

Property Type Single Family Residence

Price Type --

Stunning home that will deliver perfection to any buyer. Home is upscale and the sellers did many upgrades after moving into the property including glass and iron front door, upgraded springs on garage door, upgraded all appliances in property. landscaping is immaculate with fencing around property, travertine tile on patio and front entryway, electric screen enclosure on patio installed, cabinets painted, ventilation system installed. Back porch fireplace is perfect. Quiet location with privacy has a greenbelt in the back of home. Mountain views are amazing. Home is amazing please get this one while it is available.

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22663 E Rosa Road Queen Creek, AZ 85142

$565,000

4 Beds

3 Baths

2,165 SqFt

Status Active

MLS # 6722640

Property Type Single Family Residence

Price Type --

Charming home nestled in the lovely Spur Cross Community located on a corner lot next to a small green belt area. Don't miss this opportunity to have a home within a home! Gen Suite with separate exterior entrance, living area, kitchenette, bedroom and full bath. Home has additional 3 bedrooms, Great room, Kitchen Island, 42in upper Cabinets, Shutters throughout. Back yard includes covered patio, pavers and turf! Clean and move in ready!

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1723 E Windsong Drive Phoenix, AZ 85048

$565,000

4 Beds

2.5 Baths

2,080 SqFt

Status Active

MLS # 6736870

Property Type Single Family Residence

Price Type --

This two story 4-bed, 2.5-bath home is located in the Ahwatukee Foothills. The prime location offers an idyllic backdrop for relaxation and leisure. The fresh interior, high ceilings, ample windows create an airy and bright feel. Enjoy the comfort of the backyard with the built-in pool. Noteworthy enhancements done in 2024 include new roof, water heater, stove, showers and vanities in both bathrooms, pool resurfacing, carpet, quartz countertops, interior paint, blinds, fixtures, and landscaping. Situated within the esteemed Kyrene School District, renowned for its exceptional educational opportunities, and in close proximity to The Foothills Golf Club, this property offers access to top-tier amenities and recreation, catering to a lifestyle of sophistication and convenience.

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1631 N Lynch -- Mesa, AZ 85207

$565,000

3 Beds

2 Baths

1,753 SqFt

Status Active

MLS # 6740039

Property Type Single Family Residence

Price Type --

Tucked away in the serene community of Montecita at Mountain Bridge, this residence is charming throughout. With three spacious bedrooms and two well-appointed baths, the split floorplan gives everyone the space they need - all located on a premium lot with no neighbors behind. The private pool with water feature calls to you from the backyard oasis for the perfect cool-off - any day, any time. Community amenities galore, and less than 20 minutes' drive to Valley airports, Saguaro Lake, Canyon Lake & the Salt River as well as hiking trails and mountains everywhere you look. You'll find so many amazing opportunities for enjoying life in the Valley of the Sun here.

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11 E Irene Street Pearce, AZ 85625

$565,000

3 Beds

2 Baths

2,384 SqFt

Status Active

MLS # 6743046

Property Type Single Family Residence

Price Type --

Approaching this beautiful, well maintained, Santa Fe style home sitting on 2.4 acres with fabulous views of the Dragoon Mountains, the first thing you will see are 18 pistachio tree. Entering the home you see a large great room from which you can walk out onto the covered patio with views of the Chiricahua Mountains. The large kitchen comes with granite countertops and an abundance of cabinet space. Step down into the main dining room featuring gorgeous Texas mesquite hardwood floors. The large main bedroom has an attached bath with walk in shower. This horse property includes a 48'x36' barn with 4 stalls, bathroom w/ shower and an additional 48'x12' of covered hay storage. The horse pasture is surrounded by electric fencing. Add to this a greenhouse with irrigation of sprinklers.

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16806 W Halifax Street Surprise, AZ 85374

$565,000

4 Beds

3.5 Baths

2,825 SqFt

Status Active

MLS # 6745049

Property Type Single Family Residence

Price Type --

Easily could be called a Next Gen-Home because it has 2 Very Lg Split ensuite Bedrooms. 4 Bedroom 3.5 Bathroom Single Level 2825 sq ft Home. Gourmet 21'X13' Chef's Kitchen w-built in Double Ovens & Microwave, Corian Counters, Lg Kitchen Island, Additional Cabinets+Pantry. Spacious Great Room with Lg Windows Inviting the out doors inside. Formal Dining Rm & Eat-In-Kitchen Nook. Home has a Solar System+with loan assumtion. Duct Work Reworked. Newer Sun Screens provide for Hi-Efficiency Ratings. The Entertaining Lg Back Yd has an Extra Lg Patio. Oversized Lot with RV gates. Home is on a Corner Lot in a Cul-de-Sac. Beautiful Grassy Basket Ball Park at the end of the Cul-de-s

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7710 E Gainey Ranch Road Unit 206 Scottsdale, AZ 85258

$565,000

2 Beds

2 Baths

954 SqFt

Status Active

MLS # 6755867

Property Type Townhouse

Price Type --

* Highly Desired unit in The Courts at Gainey Ranch; Exclusive Guard-gated Community in Heart of Scottsdale * Sunset & Mountain Views from Great Room Picture Window & Balconies; Open Layout is Light & Bright Featuring Updated Kitchen, Baths, Lighting/Fans, Custom Shades, Security/Screen Doors, Trex-style Deck off Great Room, Fireplace, Large Laundry Room with Full Sized Washer/Dryer, Private Garage with Storage, Private Balconies * Amenities include Tennis, Pickleball, Renovated Estate Club w/ State of the art Fitness Center, Rec/Entertainment, Indoor/Outdoor Bar, Olympic-sized Heated Pool & Spa; Tree-lined Paths & Park, Additional Private Courts Community Heated Pool & Spa steps away * 24/7 Security, Perfect for your Lock & Leave Lifestyle * HOA covers almost everything * Don't miss it!

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310 W Pacifico Circle Litchfield Park, AZ 85340

$565,000

4 Beds

2 Baths

1,874 SqFt

Status Active

MLS # 6752715

Property Type Single Family Residence

Price Type --

Located in the heart of Old Town Litchfield Park just a short walk from The Wigwam Resort and the new Litchfield Square which is estimated to be completed in December 2024. This charming block home is in a quiet cul-de-sac with all the desirable features such as, No HOA, RV gate, private diving pool refinished in 2023, built in BBQ and a huge covered patio on a large lot. Hardwood flooring in the living areas is original to the home and it has a brand new A/C. Pitched roof redone July 2024 and flat roof redone July 2023. Patio completely redone also 2024.

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