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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7683 W Avenida Del Rey -- Peoria, AZ 85383

$626,940

4 Beds

3 Baths

2,219 SqFt

Status Active

MLS # 6680063

Property Type Single Family Residence

Price Type --

Brand new community in North Peoria! Stunning 4 bedroom/ Guest Retreat / 3 full bath home with 2.5 car tandem garage located at the Retreat at Aloravita. This home includes professionally designed features and finishes. The kitchen includes beautiful white quartz countertops, tile backsplash, stainless steel gas appliances and white shaker style cabinets. Upgraded woodplank style tile flooring. Cultured marble tops at baths. 8' doors with upgraded hardware and the home is ''Energy Star'' for remarkable comfort, energy efficiency and environmental sustainability.

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5101 E Terry Drive Scottsdale, AZ 85254

$626,000

3 Beds

2 Baths

1,649 SqFt

Status Active

MLS # 6713504

Property Type Single Family Residence

Price Type --

Located on a corner lot in the highly desirable Paradise Manor community, this immaculate home is conveniently located near the community pool, tennis courts and Greenbelt. This charming home offers a private courtyard, vaulted ceiling in the light open living room with fireplace, 3 bedrooms 2 baths, and kitchen with stainless steel appliances and granite countertops. The primary bedroom with large walk-in closet opens to the private back covered patio and the main suite bathroom has separate shower and tub and double sink vanity with granite countertops. In addition, this superior Scottsdale location is just a few minutes drive to Kierland Commons/Scottsdale Quarter, Paradise Valley Mall, and numerous other restaurants and shopping. Don't miss this opportunity to make this home your own!

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19917 W Glenrosa Avenue Litchfield Park, AZ 85340

$625,995

4 Beds

3 Baths

2,585 SqFt

Status Active

MLS # 6731088

Property Type Single Family Residence

Price Type --

**PRICE REDUCED** Don't miss this luxury Verrado SmartHome, complete with tons of extras. Home features Corner Lot, partial mountain views, 4 Bedrooms, a Bonus Room, 3 Full Baths, and 3-Car Tandem Garage. Kitchen has quartz countertop, SS appliance, gas stove, R/O system, and overlooks the Great Room with built-in entertainment cabinets. The 20 ft. patio door opens up to a beautiful extended covered patio, with built-in barbecue perfect for entertaining. The primary suite features ensuite bath with walk-in shower, his/her closets and dual vanities. Garage features storage cabinets, & ceiling shelves, epoxy flooring, and owned water softener. Low HOA fee includes gym and pool access. Close to restaurants, shops, 303 & I-10 freeways. Come and see all that Verrado has to offer.

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16399 W Desert Mirage Drive Surprise, AZ 85388

$625,990

4 Beds

3.5 Baths

2,561 SqFt

Status Active

MLS # 6755551

Property Type Single Family Residence

Price Type --

It's the stunning Cinnabar with 4 bedrooms + study and formal dining area and 3.5 baths. Very private courtyard. Stainless steel gas appliance package with 30'' cooktop, wall oven, micro, hood and dishwasher. Maple slate -gray cabinets with 42'' kitchen uppers and pull out trash drawer with two bins. Kitchen backsplash has EMS Casino Ice Matte 4x16 tile. Stainless steel Undermount single bowl sink. Himalaya white granite countertops in kitchen and baths except powder. Upgrade flooring includes EMS Baccarate 12x24 Astra tile in all areas of home except beds/closets. 8' tall interior doors. Additional recessed can lights, ceiling fan outlets and prewire for pendant lights and so much more. Estimated completion November.

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4236 N 27th Street Unit 36 Phoenix, AZ 85016

$625,900

3 Beds

4 Baths

1,816 SqFt

Status Active

MLS # 6709304

Property Type Townhouse

Price Type --

Welcome to Biltmore Living Townhomes, where luxury meets convenience in a beautiful gated community. This stunning townhome features 3 bedrooms plus a den, spread across three spacious levels. On the first floor, you'll find a versatile den perfect for a home office, a convenient powder room, and a spacious laundry room. The second floor boasts a stunning kitchen with light finishes, granite countertops, stainless steel appliances, and a large pantry. The open and inviting dining area and family room are perfect for entertaining, with an additional half bathroom off the dining room. The third floor features the primary bedroom with a private balcony (one of three balconies in the home), a gorgeous bathroom with double sinks, fine finishes, a large shower, and an oversized walk-in closet. This home also includes a large 2-car garage with plenty of storage, a rare find in this desirable area. The community offers amenities such as a relaxing swimming pool, spa, and BBQ area, all within a fully gated, friendly environment. Located in a prime spot, you're just minutes away from the Biltmore area, offering the best restaurants and shopping in the valley, with easy access to the 51, I-10, 202, Paradise Valley, and Scottsdale. Experience the best of Biltmore Living. Schedule a tour today and make this dream townhome your reality!

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4021 W Willis Lane Show Low, AZ 85901

$625,888

4 Beds

3 Baths

3,022 SqFt

Status Active

MLS # 6756128

Property Type Single Family Residence

Price Type --

INCOME POTENTIAL! Welcome to your dream home with a potential income generating guest house, located on the serene fairway of Bison Golf Club. This exquisite property offers not only a prime location with stunning views of the manicured greens but also the added luxury of an attached guest house, perfect for hosting friends and family or generating rental income. Guest House: The attached guest house includes a fully-equipped kitchen with modern appliances, perfect for short or long-term stays. A comfortable bedroom with ample closet space and one full bathroom featuring modern amenities. The cozy living room has its own private entrance, ensuring complete privacy for your guests. Approximately 730 SqFt with its own washer and dryer.

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34458 N Cherrystone Drive San Tan Valley, AZ 85144

$625,700

5 Beds

3 Baths

2,918 SqFt

Status Active

MLS # 6723154

Property Type Single Family Residence

Price Type --

Beautiful new build with no one behind you, views to the San Tan mountains. Gourmet kitchen layout, one bedroom downstairs four upstairs. 8' Interior doors.

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10031 W Verde Lane Avondale, AZ 85392

$625,261

5 Beds

3 Baths

2,581 SqFt

Status Active

MLS # 6752647

Property Type Single Family Residence

Price Type --

Find your dream home at Acclaim-a Fulton homes master planned community! The North Bend is a fantastic single story home with a private primary suite and four spacious guest bedrooms. Beautiful gourmet kitchen with separate nook and a spacious great room with a 16' atrium door that opens to the covered patio. Exclusive features include 10' ceilings, 8' doors, paver driveways and much more. Fulton homes are ''Zero Energy Ready'' and include tankless water heaters, spray foam insulation, electric vehicle ready and pre plumb for solar installation. Residents enjoy a community pool, basketball courts, pickle ball courts, sand volleyball, bocce ball, greenbelts and children's playgrounds. Buyer can upgrade appliances at additional cost. Estimated completion-12/2024

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15728 W Montgomery Road Peoria, AZ 85383

$625,000

3 Beds

2.5 Baths

2,472 SqFt

Status Active

MLS # 6616298

Property Type Single Family Residence

Price Type --

Construction about to start on this beautiful NEW BUILD. Contract now at 2023 prices and be apart of the final touches to make it truly your dream home.

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6069 E Knolls Way Cave Creek, AZ 85331

$625,000

2 Beds

2.5 Baths

1,516 SqFt

Status Active

MLS # 6757997

Property Type Townhouse

Price Type --

You won't want to miss this beautifully remodeled gem in Cave Creek's most desired area! Displaying a delightful curb appeal with a 2-car garage and a desert landscape. High ceilings, plantation shutters, tile flooring in high-traffic areas, soft carpet in all the right places, & a sun-filled living/dining room are features that can't be left unsaid. Immaculate kitchen showcases recessed lighting, white shaker cabinets, gleaming granite counters, mosaic tile backsplash, and sparkling SS appliances. Primary bedroom offers plush carpet, a sitting area w/a bay window, & a pristine ensuite w/sliding barn doors, dual sinks, & a walk-in closet. Another main bedroom enjoys a private bathroom w/sliding barn door. The 2-car garage boasts upscale epoxy flooring (2020) & updated garage door (2022)

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31006 W 213th Lane Wittmann, AZ 85361

$625,000

3 Beds

2.5 Baths

2,100 SqFt

Status Active

MLS # 6727483

Property Type Single Family Residence

Price Type --

UNDER CONSTRUCTION - You don't want to miss this turnkey single-level home offering a 3-car Tandum and a Full RV Garage! Get an up-close look to discover a captivating open floor design filled with bountiful natural light, high ceilings, lovely flooring, soothing palette, recessed lighting, a cozy fireplace, and sliding glass doors to the patio. Prepare gourmet meals in the impeccable kitchen boasting shaker cabinetry with crown molding, beautiful counters, a convenient pantry, and a large island w/a breakfast bar. Owner's suite is a true retreat, providing a private bathroom and a sizable walk-in closet. The secondary bedroom enjoys a walk-in closet too. Sit back & relax under the covered patio while drinking your favorite drink! Contract now and put your personal touch on your new home!

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488 S Soho Lane Unit 4 Chandler, AZ 85225

$625,000

4 Beds

3.5 Baths

2,093 SqFt

Status Active

MLS # 6733788

Property Type Single Family Residence

Price Type --

Welcome to the epitome of luxury patio home living at Parkside Villas in Chandler, Arizona! Step into a world of elegance and comfort with our spacious floor plans boasting generous living areas and luxurious kitchens. With 9 foot ceilings on the main floor, natural light floods in, creating a bright and inviting ambiance perfect for any occasion. Choose from our 3 or 4 bedroom layouts, each featuring 3 ½ baths for optimal convenience. Our gourmet kitchens are the heart of the home, seamlessly opening to the family room, making entertaining a breeze. Indulge in upgraded cabinetry, sleek quartz countertops, and top-of-the-line stainless steel appliances throughout, elevating your culinary experience. Relax and unwind in your own private outdoor patio area, where cozy evenings await.

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