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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7834 E Butte Street Mesa, AZ 85207

$629,000

6 Beds

4 Baths

2,649 SqFt

Status Active

MLS # 6731159

Property Type Single Family Residence

Price Type --

Stunning 6-bedroom, 4-bathroom home in the beautiful Villas at Montana Vista community! The first floor features 24' tile floors, a spacious great room, guest bedroom/office space, full guest bathroom and an incredible kitchen with white cabinets, granite counters, a walk-in pantry, center island w/breakfast bar, pendant lighting, and stainless steel appliances , including wall ovens. The first floor master suite offers patio access and a beautiful ensuite w/dual sinks, walk-in shower, large tub, walk-in closet and custom makeup table. Upstairs, find a nifty loft/game room, four nice-sized bedrooms and two full baths. Close to the community pool, with great mountain views and easy access to the 202. Covered patio,

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5074 Drifting Snow Loop Pinetop, AZ 85935

$629,000

4 Beds

2 Baths

2,206 SqFt

Status Active Under Contract

MLS # 6687980

Property Type Single Family Residence

Price Type --

Seller is offering concessions to buyer for rate buy down and/or closing costs. Nestled in the serene Pinetop Lakes Country Club area lies a captivating cabin that exemplifies the essence of mountain living. Boasting 4 bedrooms & 2 bathrooms, this haven of tranquility spans 2206 square feet of comfortable living space, making it an ideal retreat for both intimate family gatherings & grand entertaining. The cabin is situated on a treed lot of 12,197 sq ft, which is designed for low maintenance, offering you more time to indulge in the natural beauty surrounding your home. Step inside to discover a welcoming family room, leading seamlessly into a living room that invites you to relax beside the glow of a woodburning stove. For those who revel in friendly competition, the game room stands ready to host your next game night. This turnkey cabin is fully furnished, thoughtfully curated to create an atmosphere of rustic charm blended with modern comfort. In 2022, the cabin received a new roof, ensuring peace of mind & adding to the property's blend of charm & practicality. Whether you're seeking a seasonal getaway or a year-round residence, this cabin is a true gem waiting to be claimed as your own private slice of the mountains. The cabin has & can serve as an inviting vacation rental.

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2401 W Cheery Lynn Road Phoenix, AZ 85015

Open House

$629,000

3 Beds

2 Baths

2,388 SqFt

Status Active

MLS # 6750173

Property Type Single Family Residence

Price Type --

Welcome to a diamond in Central Phoenix. Rare, expansive square footage in this area of Phoenix at 2388 sf, in this classic 3 bd 2 ba beauty. New AC Unit, hot water heater and kitchen appliances and tastefully updated throughout the home. Let your imagination run wild with this oversized over 13,000 sf corner lot that has been enclosed with privacy Ficus trees to start the creation of your backyard oasis. Close to great midtown dining and shopping and freeway accessibility. You won't want to miss this one of a kind property.

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2638 S Holbrook Lane Tempe, AZ 85282

Open House

$629,000

5 Beds

3 Baths

2,340 SqFt

Status Active

MLS # 6757352

Property Type Single Family Residence

Price Type --

Location, location! This charming home is a 7-minute drive to ASU and Tempe Town Marketplace, and less than 10 minutes to Tempe Town Lake and Mill Avenue. A 3 minute walk to McClintock High School adds convenience. Inside, enjoy a spacious, open-concept living area filled with natural light. The contemporary kitchen boasts sleek quartz countertops and ample cabinetry. The dining area, living room, and Arizona room are perfect for gatherings and entertaining. The home features two luxurious en-suites with elegant bathrooms and walk-in showers. Three additional bedrooms offer space for family or a home office. Outside, relax by the gated pool in your private oasis. Don't miss this ideally located and thoughtfully designed home!

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1371 N Alison Way Chandler, AZ 85226

Open House

New

$629,000

3 Beds

3 Baths

2,037 SqFt

Status Active

MLS # 6754121

Property Type Single Family Residence

Price Type --

* CHANDLER STUNNER * PREMIUM CORNER LOT * FORMER MODEL * ACROSS FROM COMMUNITY POOL * LIKE LIVING IN A RESORT * LOFT-STYLE HOME * QUARTZ COUNTERS * STAINLESS APPLIANCES * UPGRADED CABINETS * OVERSIZED SLIDER * WRAPAROUND BALCONY * UPGRADED RAILINGS * LOFT WITH VIEWS * MASTER SHOWER WITH TILE SURROUNDS * CASITA WITH HALF BATH * VIEWS OF SOUTH MOUNTAIN * GET IT BEFORE ITS GONE! *

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14120 W Desert Glen Drive Sun City West, AZ 85375

Open House

$629,000

2 Beds

2 Baths

1,996 SqFt

Status Active

MLS # 6757193

Property Type Single Family Residence

Price Type --

Experience resort-style living in this stunning golf course home! From the moment you enter this wonderfully modified and upgraded Galeria floor plan, you'll be captivated by the open layout, rolling hill views, and spacious living areas. The chef's kitchen features a high-end 36'' WOLF dual fuel stove, gorgeous level 3 granite countertops, and a LARGE island perfect for entertaining, plus abundant cabinetry for extra storage. The expansive master suite boasts a luxurious walk-in shower, double vanity, and direct access to an elevated pool deck with a heated exercise spa. The serene backyard offers a covered patio, pergola, and breathtaking views of the golf course and lake - an entertainer's paradise with low-voltage lighting illuminating the lush palms for an unforgettable ambiance.

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31510 N 24th Drive Phoenix, AZ 85085

$628,000

3 Beds

2.5 Baths

2,026 SqFt

Status Active

MLS # 6570906

Property Type Single Family Residence

Price Type --

Beautiful Modern Appeal. Multiple Upgrades. High ceilings and Great Lighting make this home feel expansive. Gourmet Kitchen with gas range and hood. Oversized Quartz Waterfall countertop. GE Profile Appliances. Electric blinds, large farmhouse sink, water softener. 2-Large Screen Wall Mounted TV's included. Nest thermostats. Low maintenance backyard with Gas lined Fire Table, Gas Grill, Artificial turf and Tiled patio. Lights and Irrigation on timers. Energy efficient rated home. Community Pool and BBQ. There is also a dog park conveniently located close to this home. Excellent Location, close to shopping and restaurants! Great Investment Opportunity!

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22833 N 120th Lane Sun City, AZ 85373

$628,000

5 Beds

3.5 Baths

3,640 SqFt

Status Active

MLS # 6736242

Property Type Single Family Residence

Price Type --

BUYERS COULDN'T PERFORM! *NOT IN A 55+ subdv. Enjoy a gorgeous sunset from the balcony of This 5-bed, 3.5-bath home in Crossriver! Upgrades Galore, 2-car garage, new garage door, RV gate, and a guest suite space, Living, dining, and family room opening to the kitchen. An island, built-in desk, & all new wifi SS appliances w/double ovens, convection, & air fryer. New tile fooring, and plantation shutters. New iron security front door, Main bedrm offers sitting area, and front balcony access, full bath w/dual sinks, heated jacuzzi tub, and walk-in closet. Bonus rm office/game room! Loft opens to a balcony to view the breathtaking sunrises/sunsets overlooking a heated salt water, self cleaning pool & a spa with views ro the natural desert preserve! New garage door & opener

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20951 E Via Del Sol Street Queen Creek, AZ 85142

Open House

$627,777

4 Beds

3 Baths

2,222 SqFt

Status Active

MLS # 6729504

Property Type Single Family Residence

Price Type --

WOW- PRICE REDUCED $7,500. IN ADDITION, SELLER CONSESSION AVAILABLE TOWARDS CC OR RATE BUYDOWN with Rates As Low As 3.875% when Financing Thru Builder's Preferred Lender(s). Located close to Queen Creek Marketplace Shopping, Dining & Entertainment, this Community has Parks, Soccer Field, Basketball Courts, & 8-Mile Walking Trail. This Beautiful Cul-de-sac home has Primary Suite & Bedroom 4 on Lower Level with 2 Bedrooms Up! White Shaker 42'' Cabinets with Gourmet Stainless Gas Cooktop, Double Wall Ovens w/Microwave. Quartz Kitchen Countertop, Tiled Kitchen Backsplash, Tiled Extended Shower at Primary Bath, Plank Tile Flooring, Stainless Side-by-side Refrigerator, Washer, Dryer & Window Blinds Included! Don't Wait, Come See This Home Today

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22214 N Tournament Drive Sun City West, AZ 85375

Open House

$627,500

2 Beds

2.5 Baths

2,910 SqFt

Status Active

MLS # 6750481

Property Type Single Family Residence

Price Type --

This highly desirable Scottsdale model is an open floorplan. The coffered ceiling and plantation shutters throughout give it understated elegance. The primary suite has an oversized primary bath with dual sink vanities, a massive walk in shower plus a jacuzzi tub. The secondary bedroom suite is spacious with private bathroom. There is also a den/office. The chefs kitchen opens to the family room that features a built in gas fireplace. The kitchen has 2 islands (one with a vegetable prep sink), a gas range, double ovens and tons of storage. There is a convenient half bath right of the entertaining area for guests. Guests can spill out into the massive enclosed patio as well as the open patio while hosting and entertaining. The 2.5 car garage gives that perfect space for the golf cart.

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22437 E Cattle Drive Queen Creek, AZ 85142

$627,170

4 Beds

3 Baths

2,096 SqFt

Status Active

MLS # 6701362

Property Type Single Family Residence

Price Type --

THIS HOME IS UNDER CONSTRUCTION. POPULAR GREAT ROOM-4 BEDROOM , 3 BATH, INCLUDES WINDOW COVERINGS , CEILING FANS, PAVER DRIVEWAY AND WALKWAY, GAS TANKLESS WATER HEATER, ETC.! BUYER TO SELECT CABINETS, FLOORING, COUNTERS, SINKS ETC.. ALL THIS IN THE NEW PREMIER MASTER PLAN COMMUNITY IN QUEEN CREEK, FEATURING A 22 ACRE LAKE. THIS IS THE CENTERPIECE OF THE COMMUNITY. KAYAKING, CANOEING, AQUATIC CENTER WITH LAP WITH LAP AND SPORT POOL, SPLASH PAD, BOCCE BALL, PICKLE BALL. BOARDWALKS AND RAMADAS THROUGHOUT AND MUCH MORE...KATHERINE MECHAM BARNEY SCHOOL IN THE COMMUNITY.

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29309 N 31st Lane Phoenix, AZ 85083

$626,990

4 Beds

3 Baths

2,105 SqFt

Status Active

MLS # 6752311

Property Type Single Family Residence

Price Type --

Special Financing Available!!!!!!!!!! This single-level home showcases Lennar's signature Next Gen® suite, which is comprised of a separate living space, kitchenette, bedroom and bathroom, ideal for multigenerational living. In the main home, the Great Room, kitchen and dining room are arranged among a convenient open floorplan, with sliding glass doors that lead to the covered patio. The owner's suite is situated at the back of the home, while two bedrooms are found off the foyer. Photos are renderings of a model home, not the actual home.

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