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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2825 N 42nd Street Unit 11 Phoenix, AZ 85008

Open House

$644,888

3 Beds

4 Baths

2,229 SqFt

Status Active

MLS # 6671892

Property Type Single Family Residence

Price Type --

This sophisticated and contemporary residence boasts three spacious master suites in addition to generously sized rooms for office use. The main level presents an expansive open floor plan featuring a gourmet kitchen, a generously sized great room, a convenient half bath, and direct access to a two-car garage. 2 of the master suite offers substantial walk-in closets and full baths complete with dual vanities. The rooftop patio provides a delightful vantage point for glimpsing mountain views. The sought-after Edgemont community provides residents with access to a pool, a gated pet park, and a BBQ grill. Conveniently located less than two miles from Arcadia's fashionable dining venues, shops, the 202 freeway, minutes away from the Biltmore, Downtown Phoenix, and the Airport. location Location!! Location!!

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6731 N 64th Drive Glendale, AZ 85301

$644,500

5 Beds

3.5 Baths

3,115 SqFt

Status Active

MLS # 6744040

Property Type Single Family Residence

Price Type --

( INVESTOR OPPORTUNITY ) OR ( OWNER-OCCUPIED ) WITH POTENTIAL RENTAL INCOME TO OFFSET THEIR MORTGAGE. KEEP IT OR FLIP IT, THE PROPERTY COULD POTENTIALLY BE CONVERTED INTO A 4-PLEX, 3-PLEX, OR SINGLE FAMILY WITH A CASITA. JUST ONE BLOCK FROM (R-4) MULTIPLE RESIDENCE, TWO BLOCKS FROM (R-3) MULTIPLE RESIDENCE, & FIVE BLOCKS FROM (R-2) MIXED RESIDENCE. IDEAL FOR AIRBNB & VRBO RENTALS. LOCATED CLOSE TO THE CARDINALS STADIUM. FULLY REMODELED 5-BEDROOM HOME & OFFICE, WITH 2-MASTER BEDROOMS, 3.5 BATHROOMS, & 3-KITCHENS WITH STAINLESS STEEL APPLIANCES. VAULTED CEILINGS WITH OPEN LIVING AREAS, ALL CONCRETE FRONT YARD PARKING WITH 2-CAR GARAGE & RV GATE. LARGE BACKYARD WITH POTENTIAL FOR A POOL AND ENTERTAINMENT. SMALLER 4-PLEX COMP, ACTIVE FOR $800,000, MLS-691151, APPRAISED AT LIST PRICE

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14219 W Artemisa Avenue Surprise, AZ 85387

Open House

$644,500

4 Beds

2.5 Baths

3,462 SqFt

Status Active

MLS # 6643180

Property Type Single Family Residence

Price Type --

-***WHY-WAIT-TO BUILD*** This two-story home is a stunning property that offers a spacious and well-designed layout. With four bedrooms and 2 1/2 baths, this home provides ample space for a growing family or for those who enjoy having extra room. The Gormet eat-in Kitchen is a true design of a chef's delight, upgraded gas cooking range, beautiful quartz countertops, ample amount of 42-inch upgraded cabinetry and stainless-steel appliances. Plantation shutters throughout the first floor. Downstairs offers a large den/office or can be a playroom. The master bedroom is conveniently located downstairs, offering privacy and convenience. The master bathroom features upgraded cabinetry, separate garden tub, dual sinks, large walk-in shower, adding a touch of luxury to the space. The first floor of this stunning home features wood-like extensive flooring adding a touch of warmth and elegance to the space. Upstairs, you will find an enormous loft area that can be used as a playroom, another office, or entertainment area. Additional bedrooms upstairs plenty of space for family members or guests. This home is north-south, ensuring that you can enjoy the best of both worlds when it comes to natural light and temperature control. Additionally, this home has been barely lived in and resembles a spec home, meaning it is in pristine condition and ready for its new owners to move in and make it their own. You will also have the best of both worlds located remarkably close to all the shopping in north Peoria as well as Surprise, minutes away from the best of both growing areas and schools.

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2541 W Pollo Circle Flagstaff, AZ 86001

$644,000

3 Beds

3 Baths

1,667 SqFt

Status Active Under Contract

MLS # 6736420

Property Type Single Family Residence

Price Type --

Welcome to this charming 3 bed, 3 bath two-story home nestled among the trees in scenic Flagstaff, AZ. This well-maintained residence features a spacious layout with ample natural light, perfect for comfortable living and entertaining. Enjoy the convenience of a two-car garage and the serenity of a peaceful neighborhood surrounded by nature. They also have a big beautiful park area with a bbq. Whether you're looking for a family home or a retreat from city life, this property offers the best of both worlds. Don't miss out on this opportunity to own your slice of Flagstaff paradise! great investment opportunity! Short term rentals allowed***Schools are outlined in the semi-private remarks.***

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4441 S Electron -- Mesa, AZ 85212

$644,000

4 Beds

3 Baths

2,282 SqFt

Status Active Under Contract

MLS # 6747007

Property Type Single Family Residence

Price Type --

Discover this beautifully designed 4-bedroom, 3-bathroom home, built in 2018, in the desirable Eastmark community. The modern split floor plan offers both privacy and functionality. The kitchen, featuring stainless steel appliances, opens to spacious living and dining areas, perfect for daily living and entertaining. The backyard is newly landscaped with grass and pavers, providing a simple outdoor retreat. Enjoy all of the amenities of Eastmark, including pools, tennis courts, parks, and more, all within minutes of shopping and dining.

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2783 E Tulsa Street Chandler, AZ 85225

Open House

$644,000

3 Beds

2 Baths

1,913 SqFt

Status Active

MLS # 6737708

Property Type Single Family Residence

Price Type --

GORGEOUS REMODEL!! Kitchen w/SOLID STONE island • breakfast nook • formal dining or FLEX SPACE • split floor plan • PRIMARY ENSUITE exits to backyard • SPA-LIKE BATH w/rain showerhead & soaking tub • WHAT YOU SEE: wide-plank wood-look tile throughout • custom shutters • dual-pane windows • WHAT YOU DON'T SEE: All in 2024 - 200-Amp circuit breaker & HOME COMPLETELY REWIRED • air purifier & air scrubber • all ducts cleaned • exterior painted w/5-year warranty • LiftMaster garage door opener on 2-bay • Recently completed: tankless hot water heater • NEMA 14-50 plug for EV charging • water softener & RO • BEAUTIFUL BACKYARD w/large covered stone paver patio • paver walkway w/path lights • outdoor movie screen & projector • gas stub for future outdoor kitchen • garden beds w/drip lines • Perfectly situated between Downtown Chandler (5 mi.) & Gilbert Heritage District (3 mi.) - Close to Whole Foods Market, Natural Grocer, Trader Joe's, Fry's Food & Drug, Target, & more - Near some of the top rated schools in Chandler district - walk or bike to Tibshraeny Family Park, Chandler Paseo Canal Trail, community parks and more!

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6231 N 30th Way Phoenix, AZ 85016

$643,000

2 Beds

2 Baths

1,185 SqFt

Status Active

MLS # 6670201

Property Type Townhouse

Price Type --

SHORT-TERM RENTALS ALLOWED! 2.99% ASSUMABLE MORTGAGE! $350,000 a mortgage amount. Presenting this impeccably renovated two-bedroom, two-bathroom and one car garage residence completed in 2020, nestled within the desirable Biltmore Courts—a 24-hour guard-gated community. Revel in the picturesque views of the mountains and Biltmore Golf Course from the patio of this delightful home, seamlessly combining contemporary luxury with enduring charm. Upon entry, explore a recently updated kitchen and an inviting living area bathed in an abundance of natural light, centered around a charming fireplace. The kitchen and bathrooms feature newly installed tiles and modern, soft-close shaker cabinets. Throughout the home, savor the fresh ambiance created by wood-like tile flooring, complemented by pristine quartz countertops an state-of-the-art stainless steel appliances. The master bedroom is complete with an ensuite bath and a spacious walk-in closet, while the additional bedroom offers flexibility for guests or a home office. Additionally, there is a VA assumable loan option available for this property. Biltmore Courts also boasts a community pool and gym. The surrounding area is replete with attractions and conveniences. Indulge in the luxurious lifestyle that the Biltmore area offers, with world-class shopping and dining at the Biltmore Fashion Park just a stone's throw away. Nature enthusiasts will appreciate easy access to Piestewa Peak and the Phoenix Mountain Preserve, providing endless opportunities for outdoor adventures. With a prime location in the heart of the city, you're just a short drive from downtown Phoenix. The backyard with a covered patio is perfect for entertaining, and the one-car garage provides ample parking and storage.

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2206 E Toledo Place Chandler, AZ 85225

Open House

$643,000

5 Beds

3.5 Baths

3,460 SqFt

Status Active

MLS # 6735738

Property Type Single Family Residence

Price Type --

Seller may consider buyer concessions if made in an offer. Welcome to this beautifully designed home, offering a wealth of modern amenities. Downstairs is a large bedroom with a sitting room and bathroom, great if two primaries are desired. Inside, the neutral color palette enhances the natural light throughout. The kitchen is perfect for chefs, featuring a center island, accent backsplash, and stainless steel appliances. The primary bedroom includes a walk-in closet and an en-suite bathroom with double sinks, a separate tub, and a shower. Outside, relax or entertain on the covered patio overlooking the fenced-in backyard. This beautiful corner lot home is across from the park and walking distance from Chandler Traditional Academy-Liberty Elementary, stores, & restaurants.This property ef

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8026 E Quartet Avenue Mesa, AZ 85212

$642,999

3 Beds

2 Baths

2,166 SqFt

Status Active

MLS # 6636868

Property Type Single Family Residence

Price Type --

MLS#6636868 Ready Now! The Windsor at Hawes Crossing. This residence comprises 3 bedrooms, 2 bathrooms, a 3-car tandem garage, and a versatile study. An inviting porch welcomes you into the entry, where a study on one side and secondary bedrooms with a full bath on the other provide a balanced layout. Progressing beyond the study, you enter the expansive kitchen, dining, and great room area. The open-concept living ensures seamless integration of cooking, dining, and relaxation, allowing you to enjoy family time or catch up on your favorite shows. The kitchen is a culinary haven with a gas cooktop, double oven, 42 upper kitchen cabinets adorned with maple cabinets, and quartz counters. A hallway off the kitchen leads to the primary suite, showcasing an upgraded super shower and ample closet space. Your dream home awaits! Structural options added include: Gourmet kitchen, garage service door, paver front porch, super shower at owner's bath, soft water loop, and gas line for future outdoor kitchen.

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21865 E Saddle Court Queen Creek, AZ 85142

$641,995

5 Beds

4 Baths

3,100 SqFt

Status Active

MLS # 6731513

Property Type Single Family Residence

Price Type --

This home boasts 5 bedrooms, 4 baths, a Morning Room, 2-car garage with a large storage! The main floor of the Yorktown was designed for entertaining, offering an expansive great room, an open dining room overlooking a covered patio and backyard and a well-appointed kitchen with a large center island. The garage leads to a convenient bedroom and full bath downstairs. On the second floor, there's an immense loft surrounded by three bedrooms, two secondary bathrooms, a laundry room and a primary suite with its own bath and spacious walk-in closet.

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26403 S 231st Way Queen Creek, AZ 85142

$641,698

4 Beds

2.5 Baths

2,918 SqFt

Status Active

MLS # 6673328

Property Type Single Family Residence

Price Type --

This is a brand new Quick Start Home under construction in Queen Creek, with a Spanish elevation. 4 bed, 2.5 bath, plus flex room and den. Stainless Steel Gourmet Whirlpool kitchen appliances include 36'' gas cooktop, stainless chimney hood, built-in microwave and oven, and dishwasher. White 42'' cabinets with quartz countertop and tile backsplash at the kitchen, along with upgraded wood-look tile and carpet. 12 ft center slide at great room. Move in anticipated for Sept/Oct. Please ask about our special financing incentives!

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4553 N 152nd Drive Goodyear, AZ 85395

$640,995

5 Beds

3 Baths

3,574 SqFt

Status Active

MLS # 6716402

Property Type Single Family Residence

Price Type --

GORGEOUS UPGRADES in this 5 Bed, 3 Bath Home FOR SALE in the PALM VALLEY community of GOODYEAR! This home is PRICED UNDER VALUE (JUST RIGHT). The upgraded split floor plan displays pride of ownership from the second you walk through the front courtyard w/fireplace. Enter the home into the formal living room adjacent to an office or addtl. bedroom with FRENCH DOORS. The DREAM Kitchen boasts granite counter tops - SS Appliances, double wall ovens, plenty of elegant white cabinetry, pendant lighting, subway tile backsplash & a gas cooktop! Enjoy Cozy nights around either gas fireplace. Plantation shutters, can lighting, tiled showers, upgraded sinks, accent walls, crown molding, barn door, & EV Outlet in garage, just to name a few! RENTED (not leased ) Solar is another bonus! The low maintenance back yard fts. a covered patio, desert landscaping and turf, as well as a basketball court. This home has so much to offer!

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