According to the National Association of Home Builders Housing Market Index for November, builder sentiment was unchanged at a reading of 63. Readings above 50 indicate that a majority of builders are confident about housing market conditions. Readings for three sub-indexes used to calculate the Housing Market Index Readings for builder confidence in current market conditions and market conditions within the next six months were posted at 69. The reading for buyer foot traffic in housing developments was 47. Buyer traffic has not reached the benchmark reading of 50 since the peak of the housing bubble approximately 10 years ago.
NAHB Chair Ed Brady noted that survey information provided by most participating builders was gathered prior to the presidential election. Mr. Brady also noted that Housing Market Index readings have exceeded 60 for the past three months, which indicates slow but steady growth in housing markets.
Analysts: Builder Sentiment and Building Activity Inconsistent
While positive builder sentiment readings seem to contribute to stronger housing markets, analysts pointed out that housing starts are not consistent with high builder sentiment levels. Reasons for fewer home starts than the Housing Market Index suggests include approaching winter weather and ongoing shortages of labor and buildable lots.
Real estate pros count on building more homes (and building them faster) as the only solution to tight supplies of available homes and rising demand. These conditions create highly competitive markets that present obstacles to moderate income and first time home buyers. NAHB said that rising incomes, expanding labor markets and relatively low mortgage rates are fueling demand for homes. While mortgage rates have remained near historic lows, home prices have risen quickly in high-demand areas. This creates affordability challenges for home buyers, who also face strict home loan approval requirements.
3 Month Rolling Averages Show Regional Confidence Readings
NAHB reported its three-month rolling averages according to four regions included in Housing Market Index readings. The Northeast reading was 45; the Midwest region’s confidence reading was 58 and the Southern region reported a reading of 66. The West, which includes high-demand metro areas such as Portland, Oregon and San Francisco, California, had a November builder confidence reading of 77.
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6230 E Calle Del Norte --
Scottsdale, AZ 85251
$3,395,000
4
Beds
3.5
Baths
3,962
SqFt
Status
Active
MLS #
6770883
Property Type
Single Family Residence
Price Type
--
This beautiful sprawling ranch has a perfect open floor plan and loads of charm and character. The upscale island kitchen has double ovens, double dishwashers, warming drawer, custom cabinetry, and a breakfast bar, the great room is lined with french doors creating a bright sun filled space, the formal living and dining rooms are great for intimate family gatherings as well as large scale entertaining, there's a fantastic custom built home office, and the impressive primary suite has an extra large bath. Sitting in a highly sought after Arcadia neighborhood, the oversized lot houses a gorgeous pool, built-in barbecue, large covered patio, and super mature, lush grounds. This home is wonderful as is, yet it has endless potential to go to the next level!
19947 N 94th Way
Scottsdale, AZ 85255
$3,395,000
5
Beds
4.5
Baths
5,702
SqFt
Status
Active
MLS #
6758877
Property Type
Single Family Residence
Price Type
--
LOCATION & VIEWS. Enjoy luxury living in the highly desired gated community of La Strada : one of Scottsdale's best-kept secrets adjacent to DC Ranch. Next to Market Street and minutes from all of North Scottsdale's best dining and hot spots, golf, hiking or biking trails. EXQUISITELY REMODELED. Most recently, a full-remodel of the primary bathroom & closets. All new Wolf appliances and a large, workable kitchen is great for the chef or novice cook. Remarkable home design with impressive resort style outdoor living spaces. Expansive glass pocket doors and wall of elegant French doors paired with soaring cathedral ceilings with a grand living area allows for seamless indoor/outdoor luxury living & effortless entertaining. All while enjoying the fabulous view of the McDowell Mountains.
8537 E Los Gatos Drive
Scottsdale, AZ 85255
$3,390,000
5
Beds
4.5
Baths
4,590
SqFt
Status
Active Under Contract
MLS #
6714679
Property Type
Single Family Residence
Price Type
--
Experience luxury living in the exclusive gated community of Los Gatos, North Scottsdale. Designed by renowned builder Geoffrey Edmonds, this home features a charming front courtyard and a meticulously crafted floor plan that provides an open and flowing main living space, ideal for daily living and entertaining friends and family. The light-filled interiors boast expansive windows with views of the landscaped backyard. The large eat-in kitchen is equipped with wood floors, wood beams, an island with a sink, extensive granite countertops, six-burner gas range, side-by-side refrigerator and freezer, and a warming oven, all seamlessly connecting to the family room with a fireplace. A formal dining room offers additional dining options. The principal suite, located apart from the ... three guest bedrooms, includes a sitting area with a fireplace. A separate casita with a refrigerator and microwave enhances guest privacy. Large multi panel glass doors lead to patios, both covered and uncovered, perfect for Arizona's outdoor living lifestyle. The sprawling backyard features lush green grass, a pool with a water feature, a spa, an outdoor kitchen with a built-in BBQ and refrigerator, and a gas fire pit. The north/south orientation boasts a panoramic view of the McDowell Mountains and captures sunsets and city lights.
10629 E Troon North Drive
Scottsdale, AZ 85262
$3,380,000
5
Beds
7
Baths
7,443
SqFt
Status
Active
MLS #
6666657
Property Type
Single Family Residence
Price Type
--
Welcome to your dream oasis in the heart of the luxurious gated community of Talus at Troon North. This stunning Italian-inspired Custom Home is a masterpiece of architectural elegance and timeless design. Nestled on an expansive ~1-acre corner lot, this home enjoys the utmost privacy within a serene cul-de-sac setting. As you approach the residence you are greeted by a grand gated entry courtyard adorned with two majestic fountains and lush landscaping, setting the tone for the opulence that awaits inside. With a spacious 7,443 SF of living space, this five-bedroom, seven-bath estate offers an impressive array of features and amenities. The main level of the home boasts a functional & well-thought-out floor plan. Three generous bedrooms PLUS 420SF Casita plus Office (CLICK ''MORE'')... Four bedrooms on main level plus a stunning ensuite office w/ closet, private patio and calming water feature, all ensure ample space for family and guests. The upstairs area is dedicated to entertainment, featuring a media/game room with an exterior balcony that provides breathtaking views. This upstairs compound has bath, deck, closet & kitchenette= BR5. For those seeking additional privacy, an ensuite guest casita with a kitchenette, closet and private entrance can be found off the charming front courtyard. This home is a paradise for those who love to entertain. The kitchen seamlessly connects to the family room, complete with a wet bar and convenient access to the wine cellar, which is large enough to accommodate a tasting table. The kitchen itself is a chef's dream, featuring top-of-the-line appliances, including a Viking gas cooktop, two Wolf wall ovens, two Asko dishwashers, three sinks, and dual Sub Zero fridge/freezers. The master suite is a sanctuary of luxury, occupying its own private wing of the home. It includes a cozy sitting room with a fireplace, a sumptuous bathroom highlighted by a sunken jetted tub framed with Cantera stone columns and an inviting fireplace. Additionally, there is a safe room and even a hookup for a washer/dryer in one of the three walk-in closets, providing ultimate convenience. Every inch of this residence exudes elegance and sophistication. It is loaded with first-class amenities, including fresh interior paint and new carpet, a domed entry ceiling, an exotic pool and spa surrounded by travertine pavers (recently refinished), a three-car garage with an extra detached bay for a total of four car garages, and a total of five fireplaces throughout the home for added warmth and charm. Cantera stone accents adorn both the interior and exterior, while polished travertine flooring and electronic shades add to the overall sense of luxury. This home is simply impressive and offers a lifestyle of grandeur, elegance, and sophistication. Don't miss the opportunity to make this exquisite Italian-inspired residence your own, and experience the epitome of luxury living in the exclusive Talus at Troon North community.
6436 E Clinton Street
Scottsdale, AZ 85254
$3,371,250
5
Beds
5.5
Baths
5,071
SqFt
Status
Active
MLS #
6716201
Property Type
Single Family Residence
Price Type
--
NEW from Thomas James Homes with an opportunity to select some interior finishes during early stages of construction! This house has a great address, great schools and great views. Sitting in the highly desirable Scottsdale neighborhood, this beautiful 5 bedroom, 5.5 bathroom is the definition of exceptional design. Wide plank wood flooring, decorative ceiling and wall treatments, including beams and wood paneling, impressive custom lighting, outstanding millwork, stone and tile accents, a gorgeous floor to ceiling fireplace, shaker cabinetry and a 4-car garage are just a sampling of the outstanding finishes going into the home. The large single story open concept floorplan is expertly crafted with a large interior courtyard leading to the home's entrance. Inside you'll find a large great room and luxury kitchen joined by a large quartz countertop island. The grand suite hosts a large his and hers walk-in closet and a spa like bathroom with a freestanding soaking tub and walk-in shower. The secondary bedrooms throughout the home have en-suite bathrooms. In addition to the bedrooms, you'll find ample added living space with a private office and a kitchen prep area adjoining a bonus room and a game room. Home will feature fully landscaped front and back yards with a pool and spa, providing great Arizona outdoor living space. Expected completion in Summer of 2025.
5215 E Lafayette Boulevard
Phoenix, AZ 85018
$3,369,000
5
Beds
5.5
Baths
5,209
SqFt
Status
Active
MLS #
6775398
Property Type
Single Family Residence
Price Type
--
Welcome to a rare mid-century modern retreat on a huge 36,440 sq. ft. lot updated to todays standards. This 4,305-square-foot main house, plus an additional 904-square-foot guest house, offers four bedrooms and 4.5 baths in the main home, brand new roof and high-efficiency AC units, both with a 10-year warranty. The open layout, floor-to-ceiling glass walls, and iconic architectural lines draw in natural light and frame stunning views of entire Camelback Mountain. The guest house is equipped with a full bath, kitchenette, and private entrance. The expansive backyard is ready for gatherings, with a bocce ball court, sand volleyball court, peaceful pavilion and firepit. Original Architecture done by George Kenneth Rubel.
13023 N 68th Street
Scottsdale, AZ 85254
$3,350,000
5
Beds
5.5
Baths
5,071
SqFt
Status
Active
MLS #
6752069
Property Type
Single Family Residence
Price Type
--
Unique opportunity to unlock the advantages of buying an in-progress home built by Thomas James Homes. When purchasing this home, you will benefit from preferred pricing, design personalization, a guaranteed delivery, and more. Estimated home completion Spring 2025. Great address, great schools! Sitting in the highly desirable Sweetwater Corridor in Central Scottsdale, this beautiful 5 bedroom, 5.5 bathroom modern farmhouse is the definition of exceptional design. Wide plank wood flooring, decorative ceiling and wall treatments, including beams and wood paneling, impressive custom lighting, outstanding millwork, stone and tile accents, a gorgeous floor to ceiling fireplace, shaker cabinetry and a 4-car garage are just a sampling of the outstanding finishes going into the home. The large single story open concept floorplan is expertly crafted for modern living with a large interior courtyard leading to the home's entrance. Inside you'll find a large great room and luxury kitchen joined by a large quartz countertop island. The grand suite hosts a large his and hers walk-in closet and a spa like bathroom with a freestanding soaking tub and walk-in shower. The secondary bedrooms throughout the home have en-suite bathrooms. In addition to the bedrooms, you'll find ample added living space with a private office, gym and a kitchen prep area adjoining the dining room and a bonus room. Home will feature fully landscaped front and back yards, providing great Arizona outdoor living space. This home is minutes from dining, shopping and more.
9068 E Rimrock Drive
Scottsdale, AZ 85255
$3,349,900
4
Beds
4
Baths
3,352
SqFt
Status
Active
MLS #
6752751
Property Type
Single Family Residence
Price Type
--
This modern luxury estate is the result of a two-year like new, complete remodel on a 1.5-acre view lot! Future expansion survey and drawings offer an incredible opportunity to double the size of this home. The stunning new design created a fabulous, open great room featuring a modern see-through gas fireplace and a gourmet chef's kitchen boasting all new Viking appliances, custom cabinetry, quartz countertops, and an oversized island with bar seating. The split primary suite is the ultimate retreat featuring an expanded shower, a new tub, and custom walk-in closet. Two bedrooms are ensuite and a full bath was added across from the third bed. The backyard oasis features a brand-new heated pool, spa, white travertine, artificial grass, mature trees and picturesque McDowell mountain views!
4302 E Marion Way
Phoenix, AZ 85018
$3,325,000
5
Beds
4.5
Baths
3,698
SqFt
Status
Active
MLS #
6768404
Property Type
Single Family Residence
Price Type
--
Beautiful NEW modern-style home by Thomas James Homes located in MARION ESTATES! This home has 5 bedrooms, 4.5 baths and an estimated completion date of Summer 2025. Featuring a 3 car garage, attached Casita, beautiful pool and landscaped front and backyards which when combined with the professionally designed interior will make this home spectacular. Spend time in the formal dining room, snuggle up in the spacious great room with the gas fireplace on or open the stacking doors to the patio and let in some fresh air. Chef-inspired kitchen has a large island with bar seating, nook, and walk-in pantry. Beyond the kitchen sits a large bonus room connected to a second covered patio. The grand suite is spacious with a grand bath, freestanding tub, a walk-in shower, dual vanities, and an amazing walk-in closet. Hopi and Arcadia High School district and within walking distance to Global Ambassador and Phoenix Country Day!
8867 N 63rd Place
Paradise Valley, AZ 85253
$3,325,000
4
Beds
4
Baths
6,298
SqFt
Status
Active
MLS #
6702331
Property Type
Single Family Residence
Price Type
--
Fabulous location in Paradise Valley! Great floor plan with primary suite downstairs and 3 split secondary bedrooms, Primary suite has a bonus room for additional closet, nursery, office or studio. Upstairs is a large bonus room for media, playroom, office or hang out room. Spacious main living space has a stunning kitchen with dining and large family room area. Outside is a haven for entertaining with both gas and wood grills, dining gazebo, pool with waterfall, hot tub, bocce ball court, horseshoes and a great play area. Five car garage is split into 3 attached at the main house and an additional detached 2 car garage. Make this home yours!
Forest Road 193 Street
Flagstaff, AZ 86001
$3,300,000
5
Beds
3
Baths
1,748
SqFt
Status
Active
MLS #
6706061
Property Type
Single Family Residence
Price Type
--
NEVER BEFORE LISTED. EXPERIENCE THIS 43-ACRE LEGACY PROPERTY BORDERED BY THE NATIONAL FOREST ON THREE SIDES. THIS PROPERTY OFFERS THE VERY BEST VIEWS FLAGSTAFF HAS TO OFFER, AS WELL AS THE IDEAL TOPOGRAPHY FOR A RANCH OR LARGE FAMILY COMPOUND WITH TONS OF FLAT MEADOWS. EXISTING STRUCTURES INCLUDE A NICE 5 BEDROOM 3 BATH HOME AND CHAPEL. THE PROPERTY HAS A WELL, 3000 GALLON FRESH WATER STORAGE TANK, NEW SOLAR POWER SYSTEM, AND SO MUCH MORE. CALL TODAY FOR MORE INFORMATION.
8575 E Sharon Drive
Scottsdale, AZ 85260
$3,300,000
4
Beds
4.5
Baths
4,299
SqFt
Status
Active
MLS #
6771956
Property Type
Single Family Residence
Price Type
--
Step into this desert escape with mountain views positioned on a corner lot with a large circular drive. This split open floor plan features 4+ bedrooms, 4.5 baths. As you walk in you are welcomed by vaulted ceilings and picturesque views of the resort-style backyard. Large designer kitchen featuring walk in pantry opens to the family room which is great for all to gather. Spectacular outdoor spaces including sport court, putting green, pool and hot tub cater to all ages. Seller spared no expense including new air conditioning units and solar panels.