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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27194 N Skipping Rock Road Peoria, AZ 85383

$609,000

4 Beds

3 Baths

1,958 SqFt

Status Active

MLS # 6705368

Property Type Single Family Residence

Price Type --

Beautiful 4 bedroom 3 bath home. 3 car tandem garage with lots of storage and a 220 plug. Warm neutral color throughout. Home was just painted and new neutral carpet has been installed. Custom tile throughout in all the right places. The large kitchen with granite slab opens into a spacious family room and eat it dinning area. The backyard is an entertainers dream. Great use of space with many outdoor seating areas. There is also your own private bar, natural Gas BBQ, gas firepit, and hot tub. Great mountain views!!

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1204 W Fever Tree Avenue San Tan Valley, AZ 85140

$609,000

4 Beds

2.5 Baths

2,716 SqFt

Status Active

MLS # 6727454

Property Type Single Family Residence

Price Type --

Beautiful, highly upgraded 4 bedroom + office, 2.5 bath, 3 car garage. Gourmet kitchen includes granite counters, oversized island, stainless appliances, gas cooktop, convection oven, & huge walk-in pantry. Primary bedroom features dual vanities, soaking tub, large shower & walk-in closet. Split floor plan with large secondary rooms and walk-in closets. Extra cabinets in laundry and garage. Grass, extended paved patio, and garden beds. Solar panels save on utilities! Enjoy 2 community pools, splash pads, club house, playgrounds, walking paths, pickle ball & basketball courts, sand volleyball, and a full frisbee golf course!

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2907 E Whispering Wind Drive Phoenix, AZ 85024

$608,989

4 Beds

2 Baths

1,830 SqFt

Status Active

MLS # 6751712

Property Type Single Family Residence

Price Type --

Buyer able to take advantage of credits from both Seller and Preferred Lender at closing. Seller Credit to be 2% of sales price (estimated value $10,500) on a full-price offer, and may be lowered on a below-list price offer. Preferred Lender Credit to be up to 1% of loan amount (estimated value $3,500 - $5,000) and is not contingent on offer price. All Credit totaling an estimated of $14,000 to $15,5000 can be combined and used for any Buyer fee including 2/1 Buy-down, or Purchase Price Reduction. May NOT be used to pay any portion of the Down Payment. Reach out to Preferred Lender, The Goldberg Group at Barrett Financial Group to get pre-qualification more details about Lender Credits. Matt Goldberg (NMLS 1342195) Josh Goldberg (NMLS 216038). desirable Phoenix neighborhood, this home is close to shopping, dining, and great schools. Don't miss your chance to make this wonderful property your own!

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23113 E Twin Acres Drive Queen Creek, AZ 85142

$608,490

4 Beds

3 Baths

2,524 SqFt

Status Active

MLS # 6757140

Property Type Single Family Residence

Price Type --

Brand new phase!. This home has a full guest suite and is conveniently located to all that Queen Creek has to offer. Minutes from the brand new Costco, Schnepf Farms, Queen Creek Market Place and the Queen Creek Olive Mill.

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5314 W Jackalope Lane Laveen, AZ 85339

$608,466

5 Beds

4 Baths

2,908 SqFt

Status Active

MLS # 6732049

Property Type Single Family Residence

Price Type --

MLS#6732049 Ready Now! The Pinnacle at Tierra Montana Encore features a two-story design with a spacious primary suite on the main floor. This suite includes a roomy shower with a tub, a dual-sink vanity, and a walk-in closet for all seasons. The large gathering room seamlessly connects to the gourmet kitchen and dining area. The first floor also includes a laundry room and a guest bedroom with a full bath conveniently located near the front of the home, perfect for overnight visitors. Upstairs, there are three additional bedrooms, two full baths, and a spacious loft, ideal for your family. Structural options include: 5th bedroom 4th bath, extended owner's suite closet, gourmet kitchen, upgraded stair rail. Design upgrades include: upgraded quartz kitchen countertops, large 12x24 tile in main living areas, upgraded carpet bedrooms, stairs and loft.

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11376 N 89th Avenue Peoria, AZ 85345

$608,000

6 Beds

4 Baths

3,895 SqFt

Status Active

MLS # 6752298

Property Type Single Family Residence

Price Type --

YOU WON'T BELIEVE YOUR EYES! From the street, it looks like an average two-story home, but is so much more! On the main floor you will find a bedroom, bathroom, great room and kitchen. You will also find the Guest Quarters complete with Kitchenette, Living Room, Bedroom, Bathroom, and Office/Den. From the Guest Quarters, you head downstairs to the finished basement where you will find a bedroom and storage room. Upstairs you will find the Master Bedroom and Bath, along with 3 bedrooms, a bathroom, laundry room and loft. From the loft you can access the large outdoor deck. This home is also includes owned solar panels, play pool, and RV Gate. It is definitely a MUST SEE!

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4220 N 32nd Street Unit 40 Phoenix, AZ 85018

$608,000

3 Beds

3 Baths

1,487 SqFt

Status Active Under Contract

MLS # 6723681

Property Type Townhouse

Price Type --

Introducing the epitome of modern living in the heart of Arcadia - welcome home to the Arcadian Phoenix. Nestled in the coveted 85018 area code, these modern townhomes redefine living with their spacious floor plans and an array of amenities. Step inside to discover a haven of elegance, boasting 10-foot ceilings on the main living floor and large windows that flood the space with natural light. The gourmet kitchen seamlessly merges with the inviting family room, creating the perfect setting for both everyday living and entertaining. Revel in the exquisite finishes, featuring stunning cabinetry, sleek quartz countertops, and timeless stainless steel appliances. Experience true architectural brilliance with the inclusion of a charming Juliet balcony

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2618 W Estes Way Phoenix, AZ 85041

$607,999

4 Beds

2.5 Baths

3,342 SqFt

Status Active Under Contract

MLS # 6684724

Property Type Single Family Residence

Price Type --

Motivated sellers! ---Wow, this home is absolutely gorgeous! The open floor plan, vaulted ceilings, and neutral color paint really give it a modern and spacious feel. The primary bedroom is located downstairs, providing extra privacy and convenience. The kitchen is a dream with its granite countertops, stainless steel appliances, and ample storage space. And let's not forget about the backyard - a sparkling swimming pool, BBQ, covered patio, and low maintenance landscaping all make for the perfect place to relax and entertain. The home has been well maintained and even had a new AC unit recently replaced and installed a water filter system

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960 E Mulberry Place -- Chandler, AZ 85286

$607,000

3 Beds

2 Baths

1,324 SqFt

Status Active

MLS # 6638691

Property Type Single Family Residence

Price Type --

Charming 3 bedroom and 2 bath home in new Chandler community. Hamilton Landing includes 36 single level homes each with their own front porch, private driveway for 2 vehicles and a single car garage and a small, pet friendly rear yard. Each home has 10' flat ceilings, white cabinets, luxury vinyl plank flooring in every room, two tone paint, beautiful wood trim around windows and doors and granite/quartz countertops in the kitchen and baths. The community includes a dog park with a covered ramada. These homes will be ready for occupancy between March and June of 2024. All photos are of a similar home completed in a previous community.

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5075 N Atwood Court Prescott Valley, AZ 86314

$606,946

4 Beds

3 Baths

1,965 SqFt

Status Active

MLS # 6694859

Property Type Single Family Residence

Price Type --

Gorgeous new Capstone Home with 4 beds and 3 baths. MOVE-IN-READY. This home is on a corner lot with beautiful finishes. Shake cabinets, quartz countertops, luxury vinyl plank flooring, fireplace in great room with tile to ceiling. With open cell spray foam insulation throughout livable envelope of the home enjoy energy efficiency at it's finest.

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2775 Brooks Range Drive Prescott, AZ 86301

$606,000

3 Beds

2 Baths

2,022 SqFt

Status Active

MLS # 6703180

Property Type Single Family Residence

Price Type --

The model home of Willow Hills! Across from the park, this gorgeous home has all the upgrades! Beautiful tile in the walkways, kitchen, baths and laundry. Hardwood floors in the great room, dining room and 2 bedrooms. Single level home, 3 bedrooms, great room, dining room and sitting room. The Master Bedroom is at the back with great views and a huge walk-in closet. The kitchen is very large with beautiful granite counters and island. Lots of cabinet storage with pullout drawers and large pantry. A gas range with convection oven..so much counter space in here! There is a beautiful Trex deck with gas stub for grilling or sit and relax and take in the views of the mountains and the open space with wildlife scurrying around. The backyard has a lot of space for raised gardens & kid space too.

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9935 S Centennial Road Apache Junction, AZ 85120

$605,990

4 Beds

2 Baths

2,432 SqFt

Status Active

MLS # 6750764

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 plus additional 3% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. The Avelino floor plan offers a refined single-story design with four bedrooms, including an AllGen suite, and a spacious flex area ideal for an office, TV room, or study. Featuring front yard landscaping, this home will be ready for occupancy in October or November. Conveniently situated near community parks, grocery stores, and dining options.

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