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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1514 E Diamond Street Phoenix, AZ 85006

$549,999

4 Beds

3 Baths

1,766 SqFt

Status Active

MLS # 6730147

Property Type Single Family Residence

Price Type --

Check out this CHARMING, VINTAGE, ADOBE, home located in the exciting North Garfield HISTORIC DISTRICT! Thanks to a large ensuite and ARIZONA ROOM addition this home is quite LARGE compared to neighboring homes (1,776 SF). Additionally this home features a fully detached casita/GUEST HOUSE with kitchenette, bathroom, and it's own HVAC unit, making it perfect to use for your favorite in-laws or to supplement the mortgage with a tenant... Step inside the main house and you will find tasteful upgrades that perfectly accentuate all of the historic charm that this home has to offer. ORIGINAL DETAILS INCLUDE; coved ceilings, wooden front door w/ hardware, mail slot, milk door, and hutch. And to top this all off, the home comes with OWNED SOLAR! AVG. electricity bill is $65/Mo!

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2720 E Fremont Road Phoenix, AZ 85042

$549,999

5 Beds

3 Baths

2,548 SqFt

Status Active

MLS # 6756704

Property Type Single Family Residence

Price Type --

Located within the prestigious gated golf course community of Fairways at The Legacy, this home greets you with a charming gated courtyard entry. Inside, you'll find 5 spacious bedrooms, 4 of which are upstairs, along with a guest bedroom, a full bath, and a laundry room conveniently located on the main floor. The primary suite offers a sitting area, stunning views of South Mountain, and a large walk-in closet. Positioned on a desirable north/south lot, the backyard is perfect for gatherings, featuring a covered patio, a putting green, and an awning that reduces direct sunlight, creating a more comfortable outdoor space. Just a short 10-minute drive from downtown Phoenix, this home is ideally suited for growing and active families.

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427 E Mayfield Drive San Tan Valley, AZ 85143

$549,999

4 Beds

2.5 Baths

2,369 SqFt

Status Active

MLS # 6751714

Property Type Single Family Residence

Price Type --

You can't miss this property, It's sitting on a massive 20,000+ sq ft lot (just under 1/2 acre) with an RV gate and HOA allows RV'S up to 30 feet long parking in the back yard. There are 4 bedrooms and 2.5 baths. There is a huge open family room as well as a formal living room and a dining room. There is also a large open kitchen with a big island for entertaining,, new granite counters. The backyard is a blank slate waiting to become the backyard of your dreams, the options are endless and three-car garage. Improvements...All Carpet updated Jan-2022.All baseboards updated Jan -2022.The whole house was painted inside Jan-2022,,, Toilets Updated Jan-2022. Kitchen and Baths granite countertops and Cabinets painted updated Aug-2024. THE HOME WARRANTY IS INCLUDED FOR ONE YEAR.

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7631 S Kenwood Lane Tempe, AZ 85284

$549,999

3 Beds

2 Baths

1,656 SqFt

Status Active

MLS # 6765825

Property Type Single Family Residence

Price Type --

BEAUTIFULLY REMODELED! Move right into this charming home in a prime Tempe location! Providing 3 beds, 2 baths, 2-car garage, & a low-care landscape. The immaculate interior, with a spacious open layout, boasts clean lines that promote a modern feel! Enhanced by fresh neutral paint, vaulted ceilings, recessed lighting, abundant natural light, & new wood-look floors. The renewed kitchen has SS elec range & dishwasher, quartz counters, tile backsplash, white shaker cabinetry, and a waterfall peninsula w/breakfast bar. Well-appointed bedrooms & updated bathrooms! Main bedroom offers French doors to the back and a barn door that opens to the ensuite w/dual sinks & a walk-in closet. Enjoy the entertainer's backyard with two covered patios, a well, artificial turf, & a sparkling pool! Just WOW!

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2537 E Carla Vista Drive Gilbert, AZ 85295

$549,999

3 Beds

2 Baths

1,791 SqFt

Status Active Under Contract

MLS # 6758610

Property Type Single Family Residence

Price Type --

This beloved home is in very popular pet friendly area! Nestled next to greenbelt, community pool & basketball court. Gorgeous home w/ 3 BDS & den which can easily convert to 4th BD. Open floorplan. Kitchen has large breakfast bar which opens into living/dining area. Newer stainless steel appliances w/ breakfast nook. Any car enthusiasts? The 3 car-garage has been upgraded with Gladiator slats hung on studs on the walls in garage for hanging tools, cabinets, etc. Separate circuits for Garage HVAC & outlets bar. Dedicated 220 for air compressor. Circuit that supports elec vehicle. Trusses for electric line for work light & to attach to air compressor w/ rubber isolates. Very sturdy. Extra 1500 SF of concrete poured for custom black steel RV gate & parking. Tuff Shed w/ electric & custom wo

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1321 N Delmar -- Mesa, AZ 85203

$549,999

4 Beds

2.5 Baths

2,507 SqFt

Status Active

MLS # 6770242

Property Type Single Family Residence

Price Type --

Welcome to this meticulously maintained single-level home in Mesa, featuring 4 bedrooms and 2.5 baths. As you enter, you'll find a formal living room and dining room with a charming wood-burning fireplace, perfect for cozy gatherings. The home boasts new carpet and fresh paint throughout, along with a newer roof and AC units for optimal comfort. Enjoy the convenience of garage cabinets and additional storage, along with two sheds for your outdoor needs. Step outside to a large patio, ideal for entertaining or relaxing in the sun. The property features an RV gate for added accessibility. Located in a vibrant community with a pool and lakes, and near a golf course, this home is also centrally located to shopping, dining, and easy commute to surrounding cities. Don't miss out!

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723 W Rosal Place Chandler, AZ 85225

$549,999

4 Beds

2 Baths

1,938 SqFt

Status Active

MLS # 6785017

Property Type Single Family Residence

Price Type --

**NEW ROOF** on this fantastic 4-bed, 2-bath home nestled on a prime corner lot! Starring a 2-car garage, RV gate, & a low-care landscape. The inviting interior features modern light fixtures, neutral paint, wood-look tile flooring throughout, and vaulted ceilings that add to the airy feel. If entertaining is on your mind, you'll love the perfectly flowing open layout paired with a fireplace in the living space! The impressive kitchen boasts black SS appliances, granite counters, glass tile backsplash, white shaker cabinets, and an island w/breakfast bar. Large main bedroom has French doors to the back, a walk-in closet, and an ensuite with dual sinks & a soaking tub. Out the back, you have a storage shed and a Pergola patio to relax while enjoying BBQ. Great location! Welcome home

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6071 S Topaz Place Chandler, AZ 85249

$549,999

4 Beds

2 Baths

1,842 SqFt

Status Active

MLS # 6759322

Property Type Single Family Residence

Price Type --

Welcome to 6071 S. Topaz Pl, a stunning 4 bedroom 2 bathroom home nestled in the sought after Sun Groves community in Chandler. This well maintained residence offers a spacious floor plan, modern upgrades, solar panels, and a peaceful neighborhood, making it the perfect family home in a prime location. Step inside to find a bright and open floor plan with high ceilings and large windows, filling the home with natural light. The expansive living area features two tone paint, plantation shutters, and gorgeous tile flooring, making it ideal for both everyday living and entertaining guests. The beautifully upgraded kitchen features granite countertops, matching appliances, a large kitchen island, and ample cabinet space. It's perfect for preparing meals and hosting gatherings with friends and family. Step outside to the beautifully landscaped backyard, which offers a covered patio, a sparkling pool, a generous gazebo, and plenty of room for outdoor relaxation or entertaining. Sun Groves is known for its family friendly atmosphere, beautifully maintained parks, and scenic surroundings. With easy access to top rated schools and nearby shopping centers, it's the ideal place to enjoy a suburban lifestyle with modern amenities! Buyers currently living in Maricopa or Pinal County ask about an ADDITIONAL $7,000 home buyer credit available on this home via the Community Promise Program. Rate Relief Rebate Program: Benefit from a 2% seller credit to reduce your mortgage payments by Approximately $584/month in year 1 and $298/month in year 2. This exclusive offer makes homeownership more affordable now, while you await potential rate decreases.

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2121 W Sonoran Desert Drive Unit 41 Phoenix, AZ 85085

$549,995

3 Beds

2.5 Baths

1,567 SqFt

Status Active

MLS # 6648426

Property Type Townhouse

Price Type --

Check out this beautifully crafted 2-bedroom 2.5 bath home with well-appointed interior finishes. The casual dining area is adjacent to the kitchen and provides a convenient and intimate setting. Featuring designer upgrades throughout including flooring, cabinetry, quartz countertops, and stainless-steel kitchen appliances. The community is situated just minutes away from shopping, dining, and entertainment. Call today to learn more about this stunning Quick Move In and lending incentives!

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9390 Mead Lane Snowflake, AZ 85937

$549,995

6 Beds

4 Baths

2,624 SqFt

Status Active

MLS # 6734119

Property Type Manufactured Home

Price Type --

Wow! Check out this opportunity! 2 homes on 40 acres fully off grid and self-sustaining. The PRIMARY HOME offers 1568 square feet of living space with 3 bedrooms and 2 bathrooms. Floors recently upgraded to vinyl plank throughout. Split bedroom floor plan. Kitchen features hickory cabinets, granite counter tops, large kitchen island, farm sink and NEWER gas stove. Primary home is powered by 30 solar panels which is sustained by banks of lithium batteries. In addition to a 2 car masonry garage, the primary home also features a single car Graceland garage, a 14 X 40 carport and a 10 x 20 Graceland Lofted Barn Cabin for extra storage. The GUEST HOME offers 1056 square feet of living space with 3 bedrooms and 2 bathrooms. See additional description. The living space is bright and airy and features a split bedroom floor plan and breakfast bar. Guest home is powered by 25 solar panels and sustained by banks of 12 AGM Maintenance Free batteries. 1 private well services both homes. Power is also located nearby if you would prefer that option. This property would be perfect for multi-generational housing or could use guest home as rental income! Property is all off-grid but only 10 miles from town. Best of both worlds! Option to purchase home with 80 acres and additional private well on the upper 40 acres available. See MLS #6731913

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11432 E Quicksilver Avenue Mesa, AZ 85212

$549,995

5 Beds

2.5 Baths

3,096 SqFt

Status Active

MLS # 6736112

Property Type Single Family Residence

Price Type --

Large 5-Bedroom, All Bedrooms are large, formal Dining room, Kitchen Nook plus formal Dining Room, Pantry , Living room open to the Island Kitchen, Main floor Master Bedroom plus another on upper floor, Huge Loft Rec room, No smokers or pets ever, Southern facing, Two car Garage, new Epoxy floor, 2 new Trane 4 ton AC units, 10 year warranty, These are gas for lowest cost vs electric, Brand new Tile roof, 10 year warranty, New vinyl thermopane windows and blinds, New Tile flooring throughout the home, new bath fixtures, Large 7,000 sq ft lot, Low maintenance backyard big enough for a pool, Lockable side gate, lowest HOA dues, Lowest taxes for this large a home, Great Parks, Kids play areas, Easy commute to both 202 and the 60 freeway, This is the lowest priced 5 Bedroom in 85212 New Roof Warranty

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28430 N 51st Street Cave Creek, AZ 85331

$549,995

3 Beds

2.5 Baths

1,710 SqFt

Status Active

MLS # 6758424

Property Type Single Family Residence

Price Type --

Close to Dynamite and Tatum Blvd., Close to Desert Hill Shopping Center, Located on a Cul-De-Sac,Great floor plan, Large Master Bedroom with large two vanity, Shower/Tub, Bath, private water closet, large walkin Closet, Updated Kitchen with Stainless Appliances and new Refrigerator and stainless sink, Open to the Dining or Family room, Super high ceiling Living room also, Two other bedrooms are at opposite ends of the upstairs and share a full bath, Two Car garage has lots of storage shelves and brand new Epoxy floor, Large private backyard that's easy maintenance, Close to the 101 and 51 freeways, easy commute to the downtown Phoenix, Scottsdale areas, 30 minutes to the Airport, This is the lowest priced 3 bedroom, 3 bath home in Cave Creek, Has low HOA fee and low taxes

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