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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2060 E Quartz Street Mesa, AZ 85213

$2,500,000
7 Beds
8 Baths
6,846 SqFt
Status Active
MLS # 6768491
Property Type Single Family Residence
Price Type --
Recently built, beautifully constructed 2 story home in a quiet neighborhood, no HOA, on the edge of town with access to all major shopping and located just minutes from the freeway. Designed for multi-generational living, this home includes a beautiful large kitchen on the main floor with a large walk-in pantry, a 2nd fully functional kitchen on the 2nd floor. The elegant master bath is a must see with 2 large walk-in closets and a separate laundry in the master closet. Designed for comfort w/ 6 AC zones/thermostats for greater temperature control and balance. All interior walls are insulated for sound reduction. Parking - oversized 4 car garage and large circular drive with RV parking. The detached 1 bedroom guest house is fully functional with a kitchen and laundry.

3440 E Kael Street Mesa, AZ 85213

$2,500,000
4 Beds
5.5 Baths
5,852 SqFt
Status Active Under Contract
MLS # 6744700
Property Type Single Family Residence
Price Type --
Luxury remodel in a gated community! New kitchen with custom cabinetry, cabinet-front fridge/freezer, quartz slab backsplashes, huge island with 2 dishwashers, 48' gas range and custom hood, and beautiful hutch style cabinetry with glass doors. If the kitchen wasn't enough.. there is a butlers pantry equipped with a microwave, a full size oven and an ice maker, in addition to the Costco sized pantry for all your additional storage needs. The primary bedroom will draw you in with its beautiful natural Harwood floors, its soaring ceilings, cozy double-sided fireplace, and its views of the full grown citrus trees that adorn the property. The primary bath has been completely overhauled! It boasts a custom shower with multiple shower heads, a freestanding tub overlooking a private courtyard, and its views of the full grown citrus trees that adorn the property. The primary bath has been completely overhauled! It boasts a custom shower with multiple shower heads, a freestanding tub overlooking a private courtyard, 2 vanities and separate closets. the bedrooms are split, with primary bedroom on the east end of the home & three additional bedrooms split on the west end. The home features 4 bedrooms and 5.5 baths, living room, game room, theater room and formal dining room. Additional features included: 4 car extra deep garage with separate storage area, pool with slide, over 1,000 of covered patio, and much more!

6418 N 28th Street Phoenix, AZ 85016

$2,500,000
3 Beds
2 Baths
2,863 SqFt
Status Active
MLS # 6784897
Property Type Single Family Residence
Price Type --
Soft contemporary elegance meets comfortable living in this meticulously updated property. Located in the highly desirable guard-gated Biltmore Estates. Nestled at the foot of the Phoenix Mountain Preserve w/ peaceful mountain views on a premium lot which abuts natural desert on 2 sides. The clean lines of the plank white oak floors, oversized custom baseboards, 12' ceilings, coupled w/ oversized windows bring in an abundance of natural light, gorgeous views, & simple Arizona indoor/outdoor lifestyle. White kitchen cabinets accentuate the quartz countertops complete w/ a waterfall-edged island, gas cooktop, built in microwave + double wall ovens. Indulge in the Master bedroom & bath featuring a freestanding soaking tub, lavish shower w/ dual heads/controls, 2 vanities and ample storage. This darling home is all on level with no interior steps and all three bedrooms are split for your privacy. The 3 car garage is complete with epoxy flooring. Truly an entertainer's dream complete with a heated pool/ spa, and mountain views. This must see is conveniently located to great shopping, cultural and social events.

5908 E Orange Blossom Lane Phoenix, AZ 85018

$2,500,000
4 Beds
4.5 Baths
4,395 SqFt
Status Active Under Contract
MLS # 6713234
Property Type Single Family Residence
Price Type --
Nestled in the heart of the Arizona Country Club golf course is this lovely Spanish Colonial home. This is a one-of-a-kind property that offers great privacy and seclusion, while still being conveniently located on Orange Blossom Lane. As you enter through the wooden gate a serene courtyard welcomes you with a large covered patio complete with an outdoor kitchen, sparkling pool, oversized garage, and charming guest house creating an inviting oasis for entertaining family and friends. One of the oldest homes remaining on the course, this special property boasts architectural elegance throughout featuring barreled ceilings, solid wood flooring, a gas and wood-burning fireplace, and arched wooden doors that open onto views of tranquil Camelback Mountain. The open kitchen features a large butcher block island, granite countertops, stainless steel appliances and an abundance of windows and doors that overlook the lush fairways, allowing natural light to flood the space. The main house offers three spacious bedrooms, each with its own en-suite bathroom. Additionally, a basement offers lots of storage space, wine storage and a great workspaces with outside exit. This property is a rare gem and is truly a must see.

4052 E Oak Street Phoenix, AZ 85008

$2,500,000 - 5Br/6Ba -  for Sale in Rancho Ventura, Phoenix
Open House
$2,500,000
5 Beds
6 Baths
5,232 SqFt
Status Active
MLS # 6778389
Property Type Single Family Residence
Price Type --
New construction - Modern Luxury just south of Arcadia. Every detail of this 5 bedroom masterpiece has been thoughtfully considered and expertly crafted, from the framing to the quality finishes, to the seamless smart home technology integration. Details such as hand-troweled venetian plaster and embedded light fixtures, generous butler pantry and doggie bath laundry are generally found at much higher price points. This flexible floor plan features a separate primary retreat that feels like a private spa, and an attached full casita including kitchen, bath and laundry. All bedrooms are ensuite. The kitchen is a cook's dream with all Thermador appliances, streamlined wood cabinets, and a huge, cantilevered island with plenty of room for seating and entertaining! The living area opens onto a generous patio and beyond is a new pool, hot tub, and large grassy area in the oversized backyard. Enjoy the lifestyle this amazing location affords: close to restaurants, shopping, golf, hiking, ASU, freeways, and 15 minutes to the airport. Call today for a private showing.

4841 E Fairmount Avenue Phoenix, AZ 85018

$2,500,000 - 5Br/6Ba -  for Sale in Indian Villa Amd, Phoenix
Open House
$2,500,000
5 Beds
6 Baths
4,141 SqFt
Status Active
MLS # 6777412
Property Type Single Family Residence
Price Type --
Welcome to Arcadia living at its finest with this newly-built modern residence, nestled in the heart of Arcadia Lite. This sleek 5 bedroom, 6 bathroom residence offers sweeping Camelback Mountain views, paired with elevated finishes and design throughout. With functionality in mind, the modern layout features; An open main living area that flows into your chef's kitchen, two spacious primary suites (one on the main level and one on the second level), a large flex space/game room with a walkout balcony perfectly framing Camelback Mountain, and a resort backyard showcasing a sparkling pool, green space and seamless indoor/outdoor Arizona living. The spacious chef's kitchen is a dream come true and is set up for entertaining featuring; High-end appliances, custom cabinetry, and a large center island while offering easy access to the outdoor oasis, paired with a comfortable flow for day to day living. With an abundance of natural light, you'll never want to leave. Soak in the majestic Arizona evenings under your perfectly positioned pergola or gather around the beautiful pool. This stunning new construction home is in a prime Arcadia Lite location, conveniently across the street from OHSO Brewery Arcadia and just minutes from the Global Ambassador Hotel, Steak 44, The Henry, Chelsea's Kitchen, and LGO, plus Fashion Square Mall in Old Town Scottsdale. Preview this stunning modern residence today!

13225 N 136th Place Scottsdale, AZ 85259

$2,500,000 - 3Br/5Ba -  for Sale in Parcel 10a At Scottsdale Mountain, Scottsdale
Open House
$2,500,000
3 Beds
4.5 Baths
4,538 SqFt
Status Active
MLS # 6744627
Property Type Single Family Residence
Price Type --
Views, Views, and more Views. This custom single level hillside residence is perched on 1.3 acres on one of the highest lots in the exclusive Scottsdale Mountain community. Enjoy both upslope mountain views from the private back yard and City lights from the two front patios. Community amenities include a 24/7 guard gate, hiking trails, and a tennis center with pickleball and hot tub. This exceptional home is on the market for the first time. The home features three en-suite bedrooms, 4 1/2 baths including a dedicated pool bath, an executive office, a three car garage with workshop, and over 4,500 sq feet of living space. The flowing floorplan offers both formal and informal spaces that are light-filled and spacious. The heart of the home is the open kitchen and family room area. The kitchen features a large island, cherry cabinets with Calacatta quartz countertops, and walk-in pantry. The adjoining family room features a stone fireplace and built-in entertainment center. The expansive primary suite includes a sitting room, fireplace, large shower and soaking tub, and large walk-in closet. The private backyard starts with a large covered patio with fireplace and built-in BBQ. The elevated pool and spa features multiple waterfalls exuding a tropical ambiance nestled in the majestic McDowell mountains. Conveniently located to Mayo Clinic and top rated schools including Basis Scottsdale charter school and Desert Mountain HS.

616 E Carver Road Tempe, AZ 85284

$2,499,999
10 Beds
6.5 Baths
5,704 SqFt
Status Active
MLS # 6779173
Property Type Single Family Residence
Price Type --
Welcome to this one-of-a-kind Victorian-inspired home that combines timeless elegance with modern comfort, situated in the heart of South Tempe. Known for its welcoming community feel and close-knit atmosphere, South Tempe offers the perfect blend of suburban tranquility and urban convenience. The main residence boasts charming Victorian architectural details, from the turret and gabled rooflines to large windows that fill the interior with natural light. The architectural details and uniqueness continue inside with expansive living areas ideal for both family living and entertaining. There is space for even the largest of families with 8 bedrooms and 5.5 bathrooms and beyond the main house, the detached guest house offers 2 additional bedrooms, a full bathroom, a full kitchen, laundry and a comfortable living area, creating a self-contained suite that provides both privacy and convenience. Step outside, and you're greeted by a true backyard oasis. The outdoor space is designed for relaxation and gatherings, featuring a sparkling pool and spa perfect for cooling off during Arizona summers or unwinding under the stars. A built-in BBQ area and pergola seating provide an inviting setting for alfresco dining and entertaining, surrounded by lush landscaping that enhances the private, resort-like ambiance. Living in South Tempe means you're close to top-rated schools, lush parks, and locally-owned eateries, all while being minutes from major highways for easy access to the greater Phoenix area. The neighborhood's abundance of green spaces and community events make it a highly desirable place for families and professionals alike. Do not miss this once-in-a-lifetime opportunity to make this one-of-a-kind home yours!

2068 E Tiffany Court Gilbert, AZ 85298

$2,499,999
5 Beds
4.5 Baths
4,622 SqFt
Status Active
MLS # 6753265
Property Type Single Family Residence
Price Type --
Located on nearly an acre, this Circle G remodeled custom home is a dream where you can enjoy small town living in the big city. The perfectly designed floorplan includes 5 bedrooms, office, 4.5 baths, large family room, bonus/teen room, oversized 3 car garage, extended driveway with electric security gate and huge new RV garage. The chef's kitchen features Thermador appliances with WIFI range hood, touch to open refrigerator and freezer, microwave, gas range & griddle, steam oven, warming drawer, oven, built in sub zero under counter ice maker with RO water, 4 ft Galley prep sink with dual touch Brizo faucets, and Cambria quartz counter tops. Perfect for entertaining, the kitchen is open to the large family room, the eat in nook and a large sitting area. Beautiful hand scraped hardwood flooring throughout, Lutron lighting with WIFI control, security cameras, security gate, RO water system, and 2 tankless water heaters. Huge owner's suite is a true retreat with tray ceiling, bay window and sitting area, and outdoor access. Ensuite includes two vanities, jetted tub, separate shower, and stunning walk-in closet w/built-ins. Two secondary bedrooms, each equipped with a private bathroom. Beautiful office with large French doors. Laundry room with a sink & cabinetry. Two more bedrooms with an additional bathroom are located near the bonus room with access to the backyard/patio. Step outside to the large extended patio, pergola and built in BBQ area, all equipped with a top of the line misting system. Diving pool with heated spa and water fall. Manicured lawn with irrigation to the perimeter trees. The 1250 sf climate controlled RV garage is the hidden gem of this home. 14 foot tall by 12 foot wide garage door, plumbing, RV hookup, epoxy floor. Centrally located by the 202, Gilbert Regional Park, San Tan Mall, Mercy Medical Corridor, entertainment and dining. This home is a rare find!

28254 N 95th Street Scottsdale, AZ 85262

$2,499,900
3 Beds
3.5 Baths
4,048 SqFt
Status Active
MLS # 6766949
Property Type Single Family Residence
Price Type --
Welcome to Troon North! This stunning, custom-built 4,000+ sq ft home, featuring 3 bedrooms, den and 3.5 bathrooms, is set on 6.64 acres in one of Scottsdale's most prestigious communities. Enjoy your private desert compound with unobstructed views of Pinnacle Peak, Lone Mountain, city lights, and surrounding mountain ranges. This never-lived-in home boasts energy-efficient features, including state-of-the-art appliances, advanced HVAC systems, extra insulation, low-E windows, an EV charging station, and epoxy flooring in the garage. The property offers incredible potential with the option to add a 22,000 sq ft shop or barn near Dynamite Rd, perfect for collectors or equestrians. HOA fees are a fraction of the cost compared to surrounding properties, at just a few hundred dollars annually. For the same price, other homes in the area offer less than half an acre, while this home sits on a sprawling 6.64-acre lot! Additional features include historic trailers at the rear of the property, with plans for gas line installation down the street. For $240K over the asking price, you can add a custom pool and extra landscaping based on the detailed drawings provided. Don't miss this rare opportunity to own a luxury desert estate with endless possibilities!

15418 E Bronco Court Gilbert, AZ 85298

$2,499,900
5 Beds
5.5 Baths
7,369 SqFt
Status Active Under Contract
MLS # 6781640
Property Type Single Family Residence
Price Type --
''Suburban Seclusion''. Rendezvous your friends and family in the desert sun at that special place you've always dreamed and planned to do it in. All the major amenities most are looking for but so hard to find. 9,300 sq.ft. of total interior finish and several thousand more sq.ft. of exterior covered patio and courtyards. Up to 8 bedrooms, 6.5 baths, 3 kitchens, 3 laundry centers, 3 attached garages (RV/BOAT, 10 to 26 car spaces with lifts), 20' x 50' resort style pool with all the bells and whistles. Main floor primary suite completely self-contained from the rest of the property and so much more. Casita is attached with its own private garage and on the main level. The community is gated, only 19 other neighbors join you to make the 20 lot development. Make the most of today!

8225 W Frier Drive Glendale, AZ 85303

$2,499,000
6 Beds
6.5 Baths
5,147 SqFt
Status Active
MLS # 6774208
Property Type Single Family Residence
Price Type --
Discover a rare gem in luxury living. TWO HOMES on ONE ACRE in an exclusive gated community, complete with a brand new heated pool & spa! This exceptional property seamlessly blends space, style & privacy to support multi-generational living at its finest. The main house, built in 2013, boasts 4,047 sf with 4 spacious bedrooms, each featuring an ensuite bathroom for complete privacy & a den/office perfect for working from home. The heart of the home, a grand Great Room, opens up with pocket doors to the expansive backyard, creating a stunning indoor/outdoor flow. The chef's kitchen is a culinary dream with granite countertops, a large walk-in pantry, premium stainless steel appliances, gas cooktop, dual sinks & an oversized island with breakfast bar seating. The home also includes a 4-car epoxy-finished garage, with overhead storage, providing ample space for vehicles and storage. The brand new guest house, completed in 2023, offers 1,100 square feet of private, modern living with two bedrooms and two full bathrooms, complete with its own electrical and air conditioning separate from the main house. It stands as a sanctuary of its own, complete with a separate entrance, contemporary kitchen, elegant bathrooms, laundry room, and its own 2-car garage equipped with an EV charger, ideal for multi-generational families or the ultimate guest retreat. Enhancing this luxury oasis, the newly installed (2023) heated pool and spa is a resort-style escape featuring serene waterfalls, built-in stools, and a cozy fire pit, perfect for year-round entertainment and relaxation. Set on a lush, irrigated lot with mature trees and extensive parking options, this property is designed to impress and accommodate. If you're looking for a residence that combines luxury, privacy, and flexible living spaces, this is it! Not to mention - close to the Westgate entertainment district, great restaurants, and The Arizona Cardinals stadium.

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