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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2140 N White Tail Way Flagstaff, AZ 86004

$650,000
3 Beds
2 Baths
1,458 SqFt
Status Active Under Contract
MLS # 6741574
Property Type Townhouse
Price Type --
Kick back and relax in this cozy continental townhome! One of the standout features is the covered back deck, where you can relax and enjoy breathtaking views of the mature Ponderosa pines. It's the perfect spot for morning coffee or an afternoon hammock nap! This property is a peaceful retreat on a quite cul-de-sac while being just seconds from all the amenities that Bear Paw Recreational Center has to offer, including swimming, mini golf, basketball, a snack bar and more. The sizable living room is complemented by a brick fireplace, vaulted ceilings, an abundance of pine views, and natural sunlight. 3BD, 2BR, A/C, central vacuum system, and a 2 car garage for all your foremost needs. Don't wait to make this one yours!

13399 W Tyler Trail Peoria, AZ 85383

$650,000
5 Beds
3 Baths
3,423 SqFt
Status Active
MLS # 6751314
Property Type Single Family Residence
Price Type --
Unbeatable 5 bedroom floorplan with extensive upgrades! This spacious home offers a formal living/dining, plus expansive greatroom layout at the back of the house, featuring gourmet kitchen with granite counters and staggered cabinetry, huge island with breakfast bar, dining room with bay window, and spacious living room. One bedroom and remodeled full bath downstairs, along with laundry. Enormous primary suite is upstairs along with 3rd full bath (also renovated), and 3 more bedrooms, each with walk in closets. Walnut finished plank flooring downstairs and plush carpet upstairs. Oversized premium lot with no rear neighbors. Extended back patio, grass area surrounded with curbing, rock accents, and mature plants/trees. Plenty of parking with 3 car garage and triple driveway.

21425 N 142nd Drive Sun City West, AZ 85375

$650,000
2 Beds
2.5 Baths
2,580 SqFt
Status Active
MLS # 6702403
Property Type Single Family Residence
Price Type --
Fabulous Montecito model with 2 bedrooms, 2.5 bath & den w double doors, situated on a prime location on the 3rd hole of the Trail Ridge Golf Course, showcasing 2 separate lakes, mountain & fountain views! Enter through a private, front courtyard that opens to a spacious great room w plantation shutters, overlooking gorgeous greens & several patio areas. Open kitchen with Corian countertops, plenty of cabinets, Bosch cooktop, GE Profile appliances & separate built-in ice maker. Primary bedroom bay window, large walk-in closet, double vanity & separate shower & tub. Inside laundry w sink & updated GE washer & dryer. Half-bath for convenience. Large 2 car garage w extra golf cart garage, newer garage door opener. Water heater 2019, Two Trane units 2010. Roof underlayment #30 LB in 2010.

4456 S Watauga Drive Gilbert, AZ 85297

$650,000
3 Beds
2 Baths
1,965 SqFt
Status Active Under Contract
MLS # 6753618
Property Type Single Family Residence
Price Type --
Discover this stunning 3-bedroom gem in Layton Lakes, featuring a 2.5-car garage, RV gate, & charming stone facade. Step inside to find tile flooring, a soothing neutral palette, & a spacious great room, complete w/ pre-wired surround sound & a cozy desk area, perfect for an office or study. Kitchen is a culinary dream w/ stainless steel appliances, ample cabinetry, a walk-in pantry, granite counters, a stylish tile backsplash, recessed lighting, & a center island w/ a breakfast bar. Retreat to the main suite, offering a private bathroom w/ dual sinks, a soothing tub, & a walk-in closet. Outside, the backyard is an oasis w/ a covered patio, built-in BBQ, fire pit, pool, & breathtaking sunset views. Don't miss the chance to experience this beautiful home! 50V outlet outside for a generator

1713 E Mclellan Boulevard Phoenix, AZ 85016

$650,000
3 Beds
2 Baths
1,494 SqFt
Status Active
MLS # 6753397
Property Type Single Family Residence
Price Type --
Fresh on the market is this 3 bed/2 bath home located in North Central Phoenix with no HOA! Beautiful dark hardwood flooring throughout. Newer shaker cabinets, farmhouse sink, and quartz countertops in the kitchen. Then, step outside the french doors to the completely renovated backyard patio with mature grape vines and a beautiful row of bougainvillea. With a built-in fireplace and grill right under the pergola, the backyard is an entertainer's dream. Fully irrigated front and backyard, as well as an irrigated veggie garden. Very central location just a minute away from Hwy 51 and Granada Park. 10 minutes to downtown Phoenix, Scottsdale or Sky Harbor Airport. Tankless water heater and a new AC unit both installed in 2021. This home will not last long!

5585 E Killen Loop Prescott Valley, AZ 86314

$650,000
3 Beds
3 Baths
2,168 SqFt
Status Active
MLS # 6711279
Property Type Single Family Residence
Price Type --
Gorgeous like-new Mandalay 606 floor plan home in the desirable Jasper Community. The J Club clubhouse recently opened, providing one of the most spectacular centerpieces to a community that the Prescott area has seen. This home captures magnificent views of Mingus Mountain, Glassford Hill, and the San Francisco Peaks from the beautifully landscaped backyard. Enjoy the covered patio off the great room, additional paver sitting area with firepit, artificial turf lawn, and raised garden beds, creating a peaceful sanctuary to appreciate Prescott's moderate four-season climate. Inside, the modern split floor plan has much to offer. The great room is perfect for entertaining, with the family room, kitchen, and dining area seamlessly connected. The centerpiece of the living room is a stacked stone modern linear gas fireplace with a wood mantle. The impeccably appointed eat-in kitchen features quartz countertops, a tile backsplash, a single basin sink, breakfast bar counter seating, and a walk-in pantry. Like-new stainless steel appliances, including a high-end LG fridge, will convey. Off the great room, the master suite boasts a generously sized bedroom overlooking the beautifully landscaped backyard. The master bathroom offers a walk-in shower, oval soaking tub, and a spacious walk-in closet. On the opposite side of the home, the guest suite includes a full ensuite bathroom, providing guests with their own private escape. There is also a second guest bedroom that utilizes the third full bathroom near the entry to the laundry room and garage, situated between the main living area and the third guest bedroom. The three-car tandem garage features epoxy floors and a hybrid gas/electric water heater. The garage also has a keypad entry with a camera. The property includes an owned solar system with a supplemental battery, providing relief during peak hours providing the perfect energy efficient home for any buyer.

1685 S Marble Street Gilbert, AZ 85295

$650,000
4 Beds
2.5 Baths
2,800 SqFt
Status Active Under Contract
MLS # 6697610
Property Type Single Family Residence
Price Type --
***$20,000 PRICE REDUCTION*** This well-maintained home exudes pride of ownership with meticulous care from its sole owner. Its practical layout features spacious bedrooms and a functional open kitchen with ample cabinet space. Step outside to discover a tranquil backyard oasis complete with a sprawling covered patio. The garage features a convenient electric car charging station. Ideally situated in Gilbert's premier neighborhood, enjoy easy access to top-rated schools, popular shopping destinations, delectable dining options, and effortless freeway commutes. Plus, the neighborhood park is just steps away! This home is a must see!

4433 E Acoma Drive Phoenix, AZ 85032

$650,000
3 Beds
2 Baths
2,000 SqFt
Status Active
MLS # 6708533
Property Type Single Family Residence
Price Type --
Interest rates as low as 3.625%! Beautiful home on a 10,000sf lot next to Scottsdale. NO HOA! Arrive through a private courtyard and enter into a big open family room that is perfect for entertaining with a fireplace and vaulted ceilings. The spacious kitchen comes with an island, pantry & french doors that open to the backyard. The primary bedroom suite features engineered wood floors and dual vanities in the bathroom. The secondary bedrooms are at the opposite end of the home for added privacy. The backyard has a covered patio, sparkling pool and artificial turf. NEW ROOF 2 YEARS AGO! NEWER AC. Great location near the Paradise Valley Mall Redevelopment with upscale shopping & dining, Sweetwater Park, Scottsdale Christian Academy & Stone Creek Golf

3702 E Laurel Lane Phoenix, AZ 85028

$650,000
3 Beds
2 Baths
1,680 SqFt
Status Active
MLS # 6738884
Property Type Single Family Residence
Price Type --
Fabulous home in a fabulous location! This stylish mid-century modern home offers lots to enjoy inside, outside, and in the area. The backyard is perfect for the summer days and nights with a sparkling pool, new no-maintenance grass, BBQ, and picnic area. Inside you will enjoy tile flooring and new carpet, a new kitchen with quartz counter tops, new cabinetry, back splash and extra cabinet space by dining. Bathrooms have been remodeled with the mid-century style. Great storage and space in the laundry room. Minutes away from hiking, golf, shopping and dining and the new PV mall re-development. Kierland/Scottsdale Quarter and the Biltmore are just short drives away. Easy access to the 51 and 101 freeways to bring you all over the Valley easily.

1581 E Del Rio Street Chandler, AZ 85225

$650,000
4 Beds
3 Baths
2,321 SqFt
Status Active
MLS # 6694922
Property Type Single Family Residence
Price Type --
Hidden gem nestled in a quiet neighborhood of Superstition Ranch. This gorgeous home features high flat ceiling which instantly makes this home feel more spacious and luxurious. Great layout with 4 bedrooms and 3 full baths, split floorplan with separated master suite . Skylight in formal dinning , spacious kitchen with wine cooler. Home has hard wood, carpet and tile flooring. Backyard oasis is perfect for cooling down in summer time by jumping into the pool or relax in the heated spa. New roof underlayment installed in January. Fresh painted interior and exterior. Home comes with Tesla charging station, makes life easier. Excellent schools BASIS and Legacy Traditional school (North Chandler) both just about 1 mile away. Don't miss this opportunity to own this great home!

17320 E Pinnacle Vista Drive Rio Verde, AZ 85263

$650,000
4 Beds
2.5 Baths
2,126 SqFt
Status Active
MLS # 6731827
Property Type Single Family Residence
Price Type --
Charming Single-Story Home on Over an Acre in Beautiful Rio Verde Welcome to this delightful single-story residence, nestled on just over an acre of pristine land in Rio Verde. This property has participated in the EPCOR water solution and has been thoughtfully updated to offer both modern conveniences and timeless appeal. Recent updates enhance the home's charm and functionality, including fresh interior and exterior paint, an expanded back paver patio, new artificial turf, and a fenced-in backyard. The front and rear landscaping has been designed to enhance the home's curb appeal, creating a welcoming environment for you and your guests. The gourmet kitchen is a highlight of the home, featuring top-of-the-line GE stainless steel appliances. A brand-new GE washer and dryer have also been installed, making laundry chores a breeze. The home's 2x6 construction ensures superior energy efficiency, contributing to lower utility costs and a comfortable living environment. Through participation in EPCOR's long-term water solution the property will enjoy reliable and sustainable water service. The property is also located within the SRP service area, ensuring dependable electricity. Experience the serene lifestyle of Rio Verde with this exceptional home that seamlessly blends modern updates with sustainable living. Don't miss this opportunity to own a piece of Rio Verde's charm!

1108 W Colter Street Phoenix, AZ 85013

$650,000
4 Beds
3 Baths
1,894 SqFt
Status Active
MLS # 6707103
Property Type Single Family Residence
Price Type --
This stunning home in the heart of Phoenix is just a few minutes from uptown phoenix where you will find great restaurants and boutique shops! New Turf has been put in! The main house offers 3 spacious bedrooms and 2 bathrooms, while the backyard features a separate Casita with a studio area, kitchenette, and bathroom. Enjoy the covered patio, swimming pool, and ample space for entertainment. Inside, find wood-like tile flooring, vaulted ceilings, neutral paint, and abundant natural light. The kitchen boasts a breakfast bar island, tile backsplash, quartz countertops, contemporary fixtures, and plenty of storage. Perfect for short or long-term rental and ideal for first-time buyers. All furniture is included in the sale of this home.

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