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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57 Peak Point Court Sedona, AZ 86336

$2,549,000
4 Beds
5 Baths
3,516 SqFt
Status Active
MLS # 6727820
Property Type Single Family Residence
Price Type --
Discover unparalleled modern luxury and breathtaking Cathedral Rock views at this dreamy new construction masterpiece. Perched hilltop across from Oak Creek, this precious jewel offers a seamless blend of modern elegance and natural beauty, nestled in the heart of Sedona's iconic red rock landscape. Floor to ceiling windows look out onto panoramic vistas of the red rocks and desert landscape from every room. Situated on 1 acre backing up to National Forest with hiking trails right out your door, this exquisite home provides access to nature and breathtaking scenery in all directions. This meticulously designed home features 4 bedrooms 5 bathrooms, and a spacious 4 car garage - a rare find in Sedona - ensuring ample space for comfort and privacy. The gourmet chef's kitchen is a ... culinary haven, featuring premium Thermidor appliances, a striking island with a custom walnut bar. Open living areas ideal for entertaining and easy flow. Designed to integrate natural materials and feng-shui, it is both contemporary and comfortable, beautifully designed wood, stone, metal and water elements throughout. Located in Mystic Heights - one of the last private, elevated, gated communities in Sedona - it is utterly unique - surrounded by tranquil nature, with magical swimming holes at the creek within walking distance, yet only 10 minutes from Sedona's best restaurants, shopping, art galleries, and theater. Enjoy the best of everything - the tranquility of living in nature with the benefits of modern amenities, including high-speed, quantum fiber internet providing speeds of 534 Mb up and 525 Mb down (rare in Sedona). Peak Point is solar-ready, and was designed top to bottom to be low-maintenance and energy efficient, with gorgeous low-water landscaping.

8428 E Preserve Way Scottsdale, AZ 85266

$2,549,000
5 Beds
4 Baths
4,363 SqFt
Status Active
MLS # 6744641
Property Type Single Family Residence
Price Type --
Experience unparalleled luxury at 8428 E Preserve Way in Scottsdale, Arizona. This exceptional residence has been meticulously remodeled with high-end finishes, seamlessly blending modern sophistication with the natural beauty of the Sonoran Desert.The gourmet kitchen features a Wolf range, dual Cove dishwashers, and a Sub-Zero paneled refrigerator. The main living area includes a new chilled wine cellar and a sleek wet bar with a wine fridge. A spacious formal dining and living room open to the outdoor space through a multi-sliding glass door, perfect for indoor-outdoor living.The master suite boasts a show-stopping two-entry shower and soaker tub. Outdoors, enjoy an outdoor shower, a remodeled pool with an extended Baja step, a spa, a fire pit, a built-in BBQ, and a putting green.

398xx N Old Stage Road Cave Creek, AZ 85331

$2,500,000
3 Beds
4 Baths
3,517 SqFt
Status Active
MLS # 6577386
Property Type Single Family Residence
Price Type --
New Build To Suit Custom Home on 8.215 acres. All paved roads. 3,517 sqft transitional floor plan. Showcasing huge living areas with walls of retractable doors leading to the outdoor spaces. Open floor plan offers a master bedroom split, stone & wood floors, fireplace in the great room and state of the art appliances. 4 car garage and with patios total at 5,228 square feet under roof. Secluded and Exclusive, No HOA. Plans and finishings can be modified to suit your needs and lifestyle. Upgrades / Options includes Heated pool & spa, fire pit, along with an outdoor kitchen. A show stopping feature-ideally designed for Arizona indoor/outdoor living. Minutes to historic Cave Creek. Enjoy the peaceful desert and the convenience of being close to amenities with a private setting.

3400 N 37th Street Phoenix, AZ 85018

$2,500,000
3 Beds
2 Baths
2,597 SqFt
Status Active
MLS # 6544798
Property Type Single Family Residence
Price Type --
LOCATION! LOCATION! LOCATION! 1.2 ACRES ZONED R3 MULTIFAMILY. Great lot in Arcadia Light.

21434 W Mountain Cove Place Buckeye, AZ 85396

$2,500,000
5 Beds
4.5 Baths
4,954 SqFt
Status Active
MLS # 6683231
Property Type Single Family Residence
Price Type --
Incredible single level custom home opportunity in Verrado. Buyer still has the opportunity to choose all interior finishes and exterior elevation design. Main house is 4,300 square feet and the attached guest quarters is 654 square feet, for a total of 4,954 square feet with a four car garage. Also includes a swimming pool, spa and outdoor kitchen. This home features a captivating great room floor plan and is situated on an expansive 1.145 acre lot. Providing the perfect canvas for your vision of luxury living. this remarkable residence promises an unparalleled level of customization and sophistication. Click on More for more information: Step into the heart of this home, and be greeted by a kitchen that is as functional as it is beautiful. The buyer has the freedom to select their desired stone for the island, countertops, and backsplash, creating a kitchen that reflects their personal style and taste. Every cabinet in this culinary haven is equipped with slow-close drawers and doors, embodying the seamless blend of convenience and refine craftsmanship. Viking appliances and a pot filler adds an elegant touch to the culinary experience, while the presence of a butler pantry with a separate food prep area allows for seamless organization and efficiency. With 42 upper cabinets and 30 lower cabinets, ample storage space is provided, ensuring a clutter-free environment. The 3cm countertop edge profile adds a luxurious finishing touch to this stunning kitchen. The elegance continues throughout the home with a choice of 12x24 or 24x36 tiles in all wet areas, creating a cohesive and visually pleasing aesthetic. The 8 baseboards and solid core doors add an extra layer of sophistication and durability. Every bathroom in this custom home features custom stone and tile showers, exuding opulence and sophistication. The master shower is equipped with dual body systems, ensuring a spa-like experience in the comfort of your own home. Satin nickel Moen fixtures add a sleek and modern touch throughout. For effortless entertaining, a wet bar area is thoughtfully incorporated, complete with a sink, refrigerator, and icemaker, ensuring that refreshments are always close at hand. Indulge in the opportunity to create your dream home with this exceptional custom residence. From the meticulously designed kitchen to the luxurious outdoor oasis, every detail has been carefully considered to provide the ultimate in comfort, style, and functionality. Embrace the chance to curate a space that reflects your unique vision and experience the epitome of elegance and refinement in this remarkable custom home. Step outside and discover an oasis of relaxation and entertainment. The outdoor space boasts a fully equipped kitchen with a grill, icemaker, and dual burner gas cooktop, offering the perfect setting for al fresco dining and culinary adventures. An outdoor wood-burning fireplace sets the stage for cozy gatherings on cool evenings. The centerpiece of the outdoor area is the stunning 25x50 swim-up beach pool with a separate spill-over hot tub, providing a luxurious retreat for relaxation and recreation.

16414 E Pinnacle Vista Drive Scottsdale, AZ 85262

$2,500,000
4 Beds
4 Baths
3,070 SqFt
Status Active
MLS # 6728098
Property Type Single Family Residence
Price Type --
Nestled on approximately 9.2 acres, this magnificent 3,070 square-foot, four-bedroom, four-bath home offers a blend of luxury and practicality, all with no HOA restrictions. The open floor plan ensures a seamless flow between the spacious living areas and the large bedrooms, making it perfect for family living and entertaining. features include: - **Three-car garage:** Plenty of space for vehicles and storage. - **Owned solar:** Energy-efficient and environmentally friendly. - **Sparkling saltwater pool:** with outdoor grill is Ideal for relaxation and recreation. - **Equestrian amenities:** - Gorgeous horse setup with a four-stall mare motel - Round pen and tie racks for training and grooming - Automatic waters for convenience - Dedicated feed and tack room Additionally, the property boasts a large metal garage for extra storage and 5,000-gallon holding tanks, ensuring ample water supply. Fully fenced for privacy and security, this property is a true gem for those seeking a blend of comfort, space, and top-notch amenities.

7300 N Snow Bowl Road Flagstaff, AZ 86001

$2,500,000
3 Beds
2 Baths
2,000 SqFt
Status Active
MLS # 6734405
Property Type Single Family Residence
Price Type --
Discover the beauty of this stunning home, perfectly nestled amidst the majestic San Francisco Peaks. Set on an expansive 11.79-acre lot backing up to the Coconino National Forest, this thoughtfully designed 1,921 sq ft residence features 3 bedrooms and 2 bathrooms. Inside, every window offers breathtaking views, enhanced by newly added remote-controlled Hunter Douglas shades. The kitchen is a chef's dream, equipped with a top-of-the-line Fisher and Paykel double dishwasher, a new stainless steel double oven, and a deep copper sink. Flagstone and hickory floors throughout add a touch of rustic elegance. Beyond the main house, you'll find a 2,814 sq ft heated barn with 6 oversized horse stalls, Nelson waterers, a workbench, and a tack room with water. The property also includes two large turnout areas, one featuring a competition dressage arena, and the other a jumping arena. There is also plenty of room for a pasture. Two wells provide ample water supply for the property. Conveniently located less than a mile from Snowbowl and less than 5 miles from town, this property offers unparalleled accessibility. Enjoy unlimited horseback riding with direct access to the National Forest from your backyard. Bring your horses out of the heat to this cool mountain retreat. With no HOA restrictions, you have the freedom to personalize and utilize the property as you wish. Experience the perfect blend of luxury, privacy, and equestrian paradise when you tour this remarkable property.

2017 N 1st Avenue Phoenix, AZ 85003

$2,500,000
2 Beds
6 Baths
5,224 SqFt
Status Active
MLS # 6757718
Property Type Townhouse
Price Type --
Chateaux on Central, a collection of unique 5 Story brownstones in the heart of the Phoenix Arts district. Residence 18, designed by renowned interior designer Beth McGehee/SB Design Studio, has impeccable flair. 5 Levels of opulence w/ refined features: Stately gated front entry courtyard, commercial grade elevator, wood floors, award winning kitchen w/ Wolf & Sub-Z appliances. 5th Floor for large scale entertainment w/ an end unit terrace, unbeatable city skyline views & kitchen service. Lower level guest suite w/ separate entry & laundry, multiple private terraces throughout & 2 car garage. Walking distance to restaurants, bars, coffee shops, theatre, light rail - minutes from Sky Harbor Airport & all points downtown (sports venues) by rail or by car. Treat yourself to this experience!

3816 N 53rd Way Phoenix, AZ 85018

$2,500,000
4 Beds
3 Baths
2,752 SqFt
Status Active
MLS # 6757152
Property Type Single Family Residence
Price Type --
This is the quintessential Arcadia proper home. Located just steps to Hopi Elementary. This large lot offers plenty of space to entertain and relax at home. All new windows offer the natural light that we all love. The updated kitchen expands the possibilities of luxury life in Arcadia proper. Come tour this home today!

20689 E Pummelos Road Queen Creek, AZ 85142

$2,500,000
5 Beds
4.5 Baths
4,323 SqFt
Status Active
MLS # 6763001
Property Type Single Family Residence
Price Type --
Make no mistake, this is THE ONE! Check out this 4,323 sq. ft, TRUE 5 bedroom 4.5 bath, 3 Car Garage PLUS a 16x45 RV GARAGE in the heart of Queen Creek on nearly a 1/2 ACRE Lot. Located in the exclusive GATED community of Bridle Ranch, this Single Level home has the PERFECT floor plan, featuring an office, flex space & a NEXT-GEN SUITE! The main living space is on point & is designed for entertaining w/ its GOURMET Kitchen, Upgraded appliance package including 2 DISHWASHERS, a HUGE pantry & over sized island. The Primary Suite has great natural lighting & the bathroom of your dreams, with an over-sized soaking tub, rain shower, great counter space & 2 CLOSETS. Enjoy the indoor/outdoor living w/ the 20ft glass doors that lead out to your dream backyard & enjoy your heated DIVING Pool, SPA & fire pit. This insulated & AIR CONDITIONED RV Garage features pull-thru Roll Up Doors for easy access with all your Toys. Use it as an RV garage or as an extension of entertaining with the 16ft sliding door, extended covered patio, & built in outdoor kitchen, the potential is endless. Located within walking distance to the newest entertainment, restaurants & shopping (Fat Cats, Pecan Lake Entertainment, Horseshoe Park & Botanical Gardens), this place is what you have been looking for!

6101 E Maguay Road Cave Creek, AZ 85331

$2,500,000
4 Beds
4 Baths
4,934 SqFt
Status Active
MLS # 6760006
Property Type Single Family Residence
Price Type --
Horse lovers, come and get it! This 5-acre Equestrian's dream is less than 1 mile north from downtown Cave Creek. Tucked away on a private dead end street, this property offers the ideal mix of privacy & access w/ gorgeous 360-degree mountain views. Timeless yet modern designer aesthetics throughout the 4900 sqft home. It is constructed w/ 4 bedrooms, 3 of which are full ensuites, 2 full beautiful kitchens each w/ walk-in pantries, a separate office, and full walkout downstairs' with storage or bonus room for your imagination. The triple hinged balcony doors are an entertainer's delight. Imported Italian & Spanish tile, Canadian wood flooring, and craftsman welded railings deliver on the word custom. The main kitchen is equipped w/ Bosch Appliances and a 129 bottle dual zone wine cooler The horse set up offer a 4 stall barn with attached run outs, and separate tack and supplement rooms. There is a large fenced turn out to the west of the property. There is a level area just east of the house that would be ideal for an arena. Convenient vehicle access to the barn through a separate gate for your hay and shavings deliveries as well as trailer parking. You can ride to the trails right from your property. ***** No Flood Plain on this property ****

7823 E Celestial Street Carefree, AZ 85377

$2,500,000
5 Beds
6 Baths
5,138 SqFt
Status Active
MLS # 6767227
Property Type Single Family Residence
Price Type --
STUNNING HOME IN CAREFREE, AZ- A BREATHTAKING 5-ACRE ESTATE OFFERING UNPARALLELED PRIVACY, LUXURY, AND CLASSY SOUTHWESTERN-MEETS-MEDITERRANEAN CHARM. THIS ELEGANTLY ECLECTIC PROPERTY HAS 5,325 SQ FT OF THOUGHTFULLY DESIGNED LIVING SPACE FEATURING EXPOSED WOOD BEAMS & ADOBE-STYLE STUCCO EXTERIOR WALLS. INSIDE, THE HOMES OFFER 5 SPACIOUS BED RMS & 6 BATHS, IDEAL FOR LG FAMILIES OR HOSTING GUESTS. THE HEART OF THE HOME IS A BEAUTIFULLY APPOINTED KITCHEN WITH CUSTOM CABINETRY & A COZY LIVING ROOM. EXPANSIVE WINDOWS THROUGHOUT THE HOME PROVIDE AN ABUNDANCE OF NATURAL LIGHT & PANORAMIC VIEWS OF THE SURROUNDING DESERT LANDSCAPE. STEP OUTSIDE TO A LUXURIOUS RESORT- STYLE POOL & SPA, THE ULTIMATE RETREAT FOR RELAXING & ENTERTAINING. THE ESTATE ALSO FEATURES A 720 SQ FT GUEST HOUSE, OFFERING A PRIVATE OASIS WITH TREES; EQUIPPED WITH HORSE PRIVILEGES, AND ACCESS TO 11 MILES OF THE GALLOWAY PRESERVE. THIS PROPERTY IS AN EQUESTRIAN'S DREAM WITH AMPLE ROOM FOR HORSE FACILITIES, PRIVATE WELL, GARDENS, OR FUTURE EXPANSIONS, ALL SURROUNDED BY THE SERENE BEAUTY OF THE SONORAN DESERT. THIS CAREFREE ESTATE COMBINES CUSTOM SICILIAN-STYLE TILE ACCENTS WITH MODERN SOUTHWESTERN COMFORTS, OFFERING A GREAT OPPORTUNITY TO OWN A SLICE OF ARIZONA PARADISE. DON'T MISS OUT ON THIS EXCEPTIONAL PROPERTY!

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