Home Builder Sentiment Unchanged in November

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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22560 E Saddle Way Queen Creek, AZ 85142

$654,767

4 Beds

2.5 Baths

3,267 SqFt

Status Active

MLS # 6699276

Property Type Single Family Residence

Price Type --

Includes An Extended Covered Patio, Den With Modern Glass Doors, Upgraded Front Door, Aristokraft Benton Paint Colada Cabinets With Upgraded Hardware, Gourmet Kitchen Appliances With Wall Oven & Microwave And 30'' Gas Cooktop, Stainless Steel Hood And GE Counter Depth French Door Refrigerator. Della Terra Quartz Kitchen Counters In Bianco Pearl, Custom Tile Backsplash At Kitchen And Upgraded Blanco Super Single Bowl Sink. Frameless Walk-In-Shower At Primary Bath With Custom Tile Surrounds, Door From Primary Closet To Laundry Room, Pendant Prewires Over Kitchen Island, Upgraded Flooring Including 12x24'' Avery White Tile At Upstairs Baths And Laundry As well as Polaris Lighthouse Luxury Vinyl Plank Downstairs, And Upgraded Carpet. Pavered Driveway, Walkway And Porch.

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2300 E Concorda Drive Tempe, AZ 85282

$654,000

4 Beds

2 Baths

2,252 SqFt

Status Active

MLS # 6704841

Property Type Single Family Residence

Price Type --

This 4 bedroom, 2 bath large open great room floor plan includes many features: Open kitchen with massive island, lots of counter space, many cabinets, Huge diving pool, Extra large master bedroom, 3 walk in closets, updated bathrooms, corner lot, RV parking with slab and gate, large storage shed, covered patios, North/South exposure, amazing location - close to Freeways, ASU, MCC, Mesa & Tempe Schools, Banner Hospital and Fiesta Mall. Lots of great restaurants close by too! Thank you for showing!!!

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38218 W Camelback Road Tonopah, AZ 85354

$654,000

5 Beds

4 Baths

3,270 SqFt

Status Active

MLS # 6721936

Property Type Single Family Residence

Price Type --

Gorgeous custom home on 5 acres with magnificent mountain views and tons of privacy! This home features 5 bedrooms and 4 baths...yes you read that right! 19 foot ceilings with wood beams, and 2 stone fireplaces. The kitchen boasts beautiful granite counters, and raised panel cherry cabinets as well as SS appliances. Split floorplan with spacious master bedroom down stairs and 4 bedrooms upstairs. This home is a dream for entertaining your family and friends! 4 car garage. 2 large corrals with shade and 5 stall barn with tack room. There is also a 200 amp service for RV Hook up and water. The property has a private well and backyard fencing and an amazing back porch to enjoy your morning cup of coffee with no city noise, just your dogs running around the property enjoying life!

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1679 E Whitten Street Chandler, AZ 85225

$654,000

4 Beds

2 Baths

2,142 SqFt

Status Active

MLS # 6750359

Property Type Single Family Residence

Price Type --

Located at the end of a cul de sac, this updated 4 bedroom 2 bathroom home sits on over 1/2 acre. Kitchen with eating area has beautiful quartz counters , white cabinets, newer Frigidaire and Bosch appliances. Large living room with formal dining area and sliding doors to the backyard. The primary suite and ensuite (dual vanities, soaking tub, walk in shower, large closet) has it's own door to the backyard. The 3 additional bedrooms are on the same side of the home. Sparkling diving pool surrounded by a safety fence PLUS so much more space in the backyard to make your own! RV parking with full hook up onsite. NO HOA! Oversized 2-car garage with shop area close to downtown Chandler and all it has to offer. Chandler Unified School District.

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1250 W Golden Ore Pass Apache Junction, AZ 85120

$653,662

5 Beds

3 Baths

2,895 SqFt

Status Active

MLS # 6749047

Property Type Single Family Residence

Price Type --

Discover the exceptional difference in your home-buying experience! Welcome to Mariposa at Blossom Rock, where our single-story Solstice design is under construction now. Courtyard entrance into a welcoming kitchen that flows into the great room with dining area. This space opens up to your private, covered outdoor room - perfect for relaxing or entertaining. 2-car garage that leads directly into the drop zone, making organization a breeze. With 5 spacious bedrooms, 4 luxurious baths and over $35,000 in stunning upgrades to make this home truly special. We're offering special financing now. Home completion is estimated in October 2024

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4574 W Gilbert Lane San Tan Valley, AZ 85144

Open House

$653,645

5 Beds

4.5 Baths

3,291 SqFt

Status Active

MLS # 6664214

Property Type Single Family Residence

Price Type --

This home truly has it all. The SLATE plan is for those who want everything in their new home. The primary bedroom, guest room, and home office are all downstairs. The kids retreat featuring three generous sized bedrooms and a spacious loft are upstairs. This Slate features a desert contemporary exterior with all of the contemporary upgrades on the interior. Features include a gorgeous gourmet kitchen, custom backsplash, satin nickel fixtures and hardware, wood-look tile in all the common areas, and granite countertops.

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27215 N 73rd Lane Peoria, AZ 85383

$653,600

4 Beds

3 Baths

2,084 SqFt

Status Active

MLS # 6748514

Property Type Single Family Residence

Price Type --

No back neighbor-October completion! Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'Tamarron' floorplan features 4 full bedrooms with a study, 3 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes White Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 9' ceilings, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Photos of model home, options may vary-home is under construction*

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840 W Flatiron Trail Apache Junction, AZ 85120

$652,990

4 Beds

3.5 Baths

2,664 SqFt

Status Active

MLS # 6750838

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender. This elegant single-story Parklane floor plan features four bedrooms and a spacious flex area, perfect for use as an office, TV room, or study. The home includes front yard landscaping and will be move-in ready by Nov/Dec. Conveniently located near community parks, grocery stores, and dining options.

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7444 W Quail Track Drive Peoria, AZ 85383

$652,690

3 Beds

2.5 Baths

1,989 SqFt

Status Active

MLS # 6755375

Property Type Single Family Residence

Price Type --

Ahh the smell of new-October completion! Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'Amherst' floorplan features 3 full bedrooms, 2.5 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes White Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 8' doors, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Interior photos coming soon**

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3514 W Riordan Ranch Road Phoenix, AZ 85083

$652,000

5 Beds

3 Baths

2,780 SqFt

Status Active

MLS # 6734283

Property Type Single Family Residence

Price Type --

Stunning home in the Riordan Ranch community! Situated at the back of a cul-de-sac, this cozy 5 bedroom, 3 bathroom home has it all! One bedroom and full bathroom on the first floor for privacy. Four bedrooms and a loft upstairs makes for an easy use of space for all your comfort and entertaining needs! Enjoy the summer nights in the fabulous pool with water feature and oasis like, east facing backyard. Step out to the front of the home and take a look at the amazing preserve that allows for privacy in your neighborhood! Close to I-17 freeway, shopping and dining, Sandra Day O'Conner High School and many other great amenities makes this a home you will not want to miss!

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5745 S 129th Avenue Tolleson, AZ 85353

$650,000

3 Beds

2 Baths

1,563 SqFt

Status Active

MLS # 6624504

Property Type Single Family Residence

Price Type --

Beautiful horse property with 6 horse stalls available, 3/4 of an acre of land, square shaped lot, and irrigation rights. The home also features tile throughout the home (no carpet) and granite countertops in the kitchen and bathrooms! A new AC was installed in 2022 and a new roof was installed in 2021. The property also features multiple entrances for vehicles, a storage shed, and mature trees. The home has been recently painted, interior and exterior. The kitchen also has a gas hook up for a gas range. Come check out this amazing opportunity and see all the potential this property has!

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3823 N 8th Street Phoenix, AZ 85014

$650,000

4 Beds

3 Baths

1,838 SqFt

Status Active

MLS # 6614730

Property Type Single Family Residence

Price Type --

If you're looking for a short term rental, it's equipped and ready to go. This home is also ideal for the investor that caters to traveling nurses. Minutes away from Phoenix Children's Hospital. The main home has three bedrooms, two baths. With a very private studio apartment one bedroom with a kitchenette along with separate entrance. The property has been remodeled extensively new roof, new windows, fresh paint along with completely remodeled kitchen and bathroom. Flooring in the main house just completely redone with new Sub floor and vinyl plank flooring. Garage set up as a huge game room that can easily be converted back to a double car g Owner to give a credit or paint the themed rooms.

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