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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3818 E Desert Cove Avenue Phoenix, AZ 85028

$595,000

4 Beds

3 Baths

2,711 SqFt

Status Active

MLS # 6755459

Property Type Single Family Residence

Price Type --

Full purchase price is non-negotiable and house comes as is. Seller is offering no repairs or concessions. No HOA! Private pool! Low maintenance gravel yard! High vaulted ceilings! Updated living area and kitchen with bright laminate floor and granite countertops with grey backsplash! White cabinetry! Modern appliances! Added 4th bedroom or walk-in closet! Updated bathroom countertops and sinks! Covered back patio! Seller is offering jacuzzi(needs cover replacement), the black backyard ramada(also needs cover replacement), two modern fridges, microwave, and stove!

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2221 N Springfield Street Buckeye, AZ 85396

$595,000

3 Beds

2.5 Baths

2,266 SqFt

Status Active

MLS # 6681380

Property Type Single Family Residence

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*$5k seller credit*Elevate your living! You'll love this stylish & spacious 3-bedroom+study single level pool home located in the highly desired Verrado Community, the gem in the desert with tree-lined streets, parks, pools, & adorable town square. Home is complete with your own crystal clear pool, covered patio & low maintenance yard. Prepare to be impressed by a harmonious open floorplan offering gleaming wood-look floor, soothing palette throughout & modern recessed lighting. The remarkable kitchen boasts white cabinetry with crown molding, stylish mosaic backsplash, granite counters, stainless steel appliances, & a center island complete with a breakfast bar. End your day unwinding in the primary bedroom, with plush carpet in all the right places, a private bathroom, dual sinks a walk-in closet. Porch to patio to pool... relax or entertain with ease outside and in as you create memorable moments! Don't miss out on this one!

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18557 W Turquoise Avenue Waddell, AZ 85355

$595,000

6 Beds

4 Baths

3,682 SqFt

Status Active

MLS # 6747160

Property Type Single Family Residence

Price Type --

Sport Court! RV Gate! 3 Car Garage! Mountain Views! ** This beautiful, spacious home in the Cortessa community has 6 bedrooms and 4 bathrooms. It has ALL new interior paint & carpet & updated light fixtures throughout. The kitchen has newly refinished cabinets, kitchen island, brand new electric range (gas hook up available), stainless steel appliances, & corian countertops. The downstairs features a family room, living room, formal dining area, laundry room, & a full bedroom and bathroom. The upstairs has 5 bedrooms with 2 bedroom ensuites, & jack and jill bathroom. The primary bathroom has newly refinished cabinets, double sinks, separate/tub shower, & huge walk in closet, & a vanity area. Large backyard has covered patio, grass, & basketball court that doubles as extra parking!

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2947 E Rose Lane Phoenix, AZ 85016

$595,000

2 Beds

2 Baths

1,185 SqFt

Status Active

MLS # 6722709

Property Type Townhouse

Price Type --

Views, views, views!! Come see this remodeled Biltmore condo overlooking the magnificent Biltmore golf course. This home features an updated kitchen with stainless steel appliances, completely remodeled bathrooms, new flooring throughout, a good-sized living room and dining room with fireplace, a Split Master, and incredible views of the golf course and mountain from every window and patio. The AC unit was replaced in 2021. One car garage, lush landscaping, Amazing gated community with multiple pools and tennis courts. Within walking distance to all of the Biltmore amenities, world-class hotels and golf courses, shopping, restaurants, entertainment, theaters, library, access to major freeways, 15 minutes to Sky Harbor, and more.

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1250 W Sand Dune Drive Gilbert, AZ 85233

Open House

$595,000

4 Beds

2.5 Baths

2,036 SqFt

Status Active

MLS # 6755373

Property Type Single Family Residence

Price Type --

Discover this fully updated, cul-de-sac home surrounded by 3 lakes in the highly coveted Islands community in Gilbert AZ. Located alongside the green belt with views of the lakes, this 4 bedroom, 2 1/2 bath home has been completely updated with custom wood shutters, bamboo wood flooring & new HVAC units. Discover the chef's kitchen equipped with double ovens, custom cabinetry, granite countertops & travertine flooring. The great room features custom wood shutters, a cozy fireplace & strikingly vaulted ceilings which lead into the downstairs primary bedroom, which offers a private entrance to the backyard, dual vanities, separate shower/tub & walk in closet. Enjoy entertaining in your North/South exposure backyard, perfect for hosting friends & family. Community center pool & spa. Must see

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9409 E Nacoma Drive Sun Lakes, AZ 85248

Open House

$595,000

3 Beds

3 Baths

2,443 SqFt

Status Active

MLS # 6713360

Property Type Single Family Residence

Price Type --

Pride of ownership is apparent in this 3 bedroom, 3 bath home in the gated active adult community of Oakwood CC. The casita with separate entrance provides flexibility for guests, a home office or exercise studio. Entertain in the great room or family room with adjacent kitchen and breakfast nook. Granite counters, SS appliances, newer paint and hardware with loads of cupboard space. Retire to the primary suite with patio access, walk in closet, dual split sinks and separate shower and tub. Guests will appreciate the spacious bedroom with walk in closet and nearby bath. New AC in 2021. Newer wood look tile flooring with some carpeted areas. You'll love the large picture windows and slider leading to the backyard with expanded covered patio and lush landscaping. See upgrade list.

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10511 S 47th Lane Laveen, AZ 85339

$594,995

3 Beds

2.5 Baths

2,390 SqFt

Status Active

MLS # 6720364

Property Type Single Family Residence

Price Type --

Boasting an open layout ready-made for entertaining, this Pinecrest plan centers around an expansive great room, 10' ceilings, a dining nook and an impressive gourmet kitchen boasting a convenient island, walk-in pantry, with white shaker cabinets, quartz counters, black matte fixtures and stone tile throughout, with carpeted bedrooms. The elegant primary suite is adjacent, showcasing an immense walk-in closet and a private deluxe bathroom with shower and separate tub. Two additional bedrooms, a study, a laundry and a covered patio round out the plan.

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21857 E Saddle Court Queen Creek, AZ 85142

$594,995

4 Beds

3 Baths

2,260 SqFt

Status Active

MLS # 6731497

Property Type Single Family Residence

Price Type --

Explore this eye-catching Townsend home, ready for quick move-in! This plan includes 4 bedrooms, 3-car garage and a welcoming covered porch. There is a private study off the foyer with an open-concept great room. The breakfast nook flows into a gourmet kitchen boasting slate cabinets, quartz countertops, a center island and a walk-in pantry; The primary suite showcases a generous walk-in closet.

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5881 N 193rd Drive Litchfield Park, AZ 85340

Open House

$594,990

5 Beds

4.5 Baths

3,189 SqFt

Status Active

MLS # 6745694

Property Type Single Family Residence

Price Type --

Welcome home to the Remerton floorplan. Featuring a full bedroom bathroom downstairs, two of the secondary bedrooms have private ensuite bathrooms. A formal foyer and hall is the perfect centerpiece for family photos or your art collection. The entrance hall then leads you to the expansive open concept kitchen and living space ideal for holiday gatherings. Whip up some mouthwatering recipes in the open kitchen featuring an impressive walk-in pantry and dedicated breakfast nook. Upstairs bedroom 2 features an ensuite bathroom, making this plan perfect for multi-generational families. An upstairs loft creates the ideal location for family game night! 3 car tandem garage and no homes behind you and stunning mountain views are the cherry on top! This home is ready for a 30-day close of escrow

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3753 E Welton Lane Gilbert, AZ 85295

$594,900

3 Beds

2 Baths

1,866 SqFt

Status Active

MLS # 6748219

Property Type Single Family Residence

Price Type --

Immaculate, meticulously maintained and highly upgraded home in Cooley Station! Three bedrooms PLUS an open den (makes the perfect office)! Gorgeous island kitchen with dark wood oversized cabinets, granite counters, stainless appliances! Huge great room with in-floor outlet for decorating flexibility! Extra recessed lighting! Raised vanities in master! Tricked-out garage with tons of custom cabinets! All of this on a premium lot with no neighbors directly behind! SO close to great schools, shopping and restaurants! And don't forget the incredible amenities Cooley Station has to offer, including the aquatic center! Hurry to this one!

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4245 S Boulder Street Gilbert, AZ 85297

$594,900

5 Beds

3 Baths

2,402 SqFt

Status Active

MLS # 6727334

Property Type Single Family Residence

Price Type --

This beautiful 5-bedroom, 3-bath, 2-story home features new carpet in the bedrooms and fresh interior paint throughout, creating a welcoming ambiance. The open kitchen and living area boast stainless steel appliances, including a dishwasher, microwave, and range, perfect for modern living. Upstairs, you'll find a spacious loft and additional bedrooms, providing ample space for family and guests.

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15635 W Montecito Avenue Goodyear, AZ 85395

$594,900

4 Beds

2.5 Baths

3,083 SqFt

Status Active

MLS # 6738508

Property Type Single Family Residence

Price Type --

Your DREAM home is here in Palm Valley! Bright & light interior showcases neutral paint, recessed lighting, and tile & soft carpet t/out. Featuring a spacious living/dining room and a separate family room w/SURROUND SOUND, you have ideal spaces for relaxation or gatherings! The large kitchen boasts granite counters, a walk-in pantry, a breakfast bar, cozy nook, wood cabinetry w/crown molding, & courtyard access. All bedrooms await upstairs! Oversized main bedroom has a double-door entry, BALCONY access, & a SEATING room! Its ensuite includes dual sinks, separate tub/shower, & a walk-in closet. Discover the entertainer's backyard with a covered patio, lush lawn, well-laid pavers, & a fenced pool for year-round enjoyment! Plenty of room for ALL your TOYS w/ and RV GATE & 3 CAR GARAGE. WOW!

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