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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2438 W Hearn Road Phoenix, AZ 85023

$588,000

4 Beds

3 Baths

2,344 SqFt

Status Active

MLS # 6739186

Property Type Single Family Residence

Price Type --

This 2344 SQFT home has been completely renovated, featuring all-new cabinetry and quartz countertops throughout the house. The open-concept living area is perfect for entertaining, and the brand-new kitchen shines with its modern design. All bathrooms have been redone with beautiful new tile work and contemporary finishes. The four spacious bedrooms offer ample storage and natural light. Enjoy the low-maintenance landscaped yard. Conveniently located next to the I-17 and close to amenities, schools, and parks.

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16354 E Montrose Drive Fountain Hills, AZ 85268

$588,000

3 Beds

2 Baths

2,145 SqFt

Status Active

MLS # 6741430

Property Type Single Family Residence

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Breathtaking Mountain Views! This impeccably maintained Fountain Hills gem offers stunning mountain vistas, a prime central location, and the highly sought-after North/South exposure—making this home a must-see! Key Upgrades and Features: Complete with new shingles on patio roof, underlayment, and wooden planks. Beautifully Refinished Outdoor Woodwork Enhancing the home's curb appeal. Modern Amenities and NEW A/C UNIT! Stylish Interior Updates: Fresh carpet, new shower head and bathroom faucet, and freshly painted fireplace. Enhanced Energy Efficiency: New bathroom circulation fans and patio doors. Updated Kitchen and Bar Area: Refinished butcher block bar and new dishwasher.

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375 E Citrus Hollow Way Queen Creek, AZ 85140

$587,979

2 Beds

2.5 Baths

1,678 SqFt

Status Active

MLS # 6629644

Property Type Townhouse

Price Type --

This brand new Valletta model is move-in ready! It features a spacious layout with plenty of natural light. The kitchen is fully equipped with stainless steel appliances and granite countertops. It has a gourmet kitchen, gas cooktop and will be the perfect place to entertain your guests. Both bathrooms are highly upgraded with tile surround and upgraded fixtures. The resort collection at Encanterra offers you the perfect balance if you are a seasonal owner or full time. Book your tour today and start living the good life at Encanterra now!

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3131 N Central Avenue Unit 6014 Phoenix, AZ 85012

$587,900

2 Beds

2 Baths

1,125 SqFt

Status Active

MLS # 6420041

Property Type Apartment

Price Type --

*Construction completed* 5% BUYER INCENTIVE! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom condo offers ten ft. ceilings, an open floor plan, and large master bedroom with ensuite bathroom. Chefs kitchen offers expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful pool and lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.

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11562 N 162nd Lane Surprise, AZ 85379

Open House

$587,900

4 Beds

3 Baths

2,922 SqFt

Status Active

MLS # 6749232

Property Type Single Family Residence

Price Type --

Welcome to this beautiful 4-bedroom, 3-bathroom home with an oversized kitchen and pool in the backyard! The great room showcases high ceilings, a neutral palette, blinds for privacy, and a combination of soft carpet and tile flooring. The spotless kitchen offers granite counters, abundant cabinetry, pendant/recessed lighting, SS appliances, and an oversize island with a breakfast bar. Den/Office and a bedroom are located on the main floor. Upstairs, the cozy loft provides additional living space. The main bedroom includes an ensuite with dual sinks, and a walk-in shower. Venture outside to the serene backyard, complete with a covered patio, low-maintenance artificial turf, and a sparkling pool. Make this gem yours!

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3109 E Larkspur Drive Phoenix, AZ 85032

$587,700

4 Beds

2 Baths

1,416 SqFt

Status Active

MLS # 6747596

Property Type Single Family Residence

Price Type --

Discover the epitome of versatile luxury with this stunning property, ideal for use as an income generating investment, or a personal residence. Imagine unwinding by your heated pool, grilling up a feast under your covered patio or perfecting your putt on your very own backyard green. This exceptional & fully renovated home boasts 4 spacious bedrooms, 2 bathrooms, & a host of premium features including granite countertops, stylish laminate wood flooring, an upgraded garage floor & ceiling fans in every room! Enjoy the added benefits of solar panels on a new roof, and the convenience of an option to purchase fully furnished for a seamless transition. With no HOA & easy access to freeways, plus a mere 15-minute drive to PHX Airport, this property offers both luxury and convenience.

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6073 W Caribe Lane Glendale, AZ 85306

$587,500

4 Beds

2.5 Baths

1,996 SqFt

Status Active

MLS # 6713341

Property Type Single Family Residence

Price Type --

Gorgeous family home with 4 bedrooms and 2.5 bathrooms, no HOA, pool, and an RV gate. Currently used a short term rental and can be purchased fully furnished. Home has open layout and was completely remodeled in 2022.. Great location in Glendale family neighborhood.

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4990 E Colonial Drive Chandler, AZ 85249

$587,500

4 Beds

2 Baths

2,208 SqFt

Status Active

MLS # 6747868

Property Type Single Family Residence

Price Type --

Move-In Ready! Remodeled kitchen with new quartz counters, Updated bathrooms with quartz counters, fresh paint, and new carpet! Single level over 2,200 SqFt, a true 4 Bedroom, 2 Bathrooms and a 3 car garage! Primary suite features double door entry, double sinks, separate tub and shower with a large walk in closet. Some extra luxury features worth mentioning are 9 foot ceilings, a gas stove, LED lighting throughout, and this premium lot with Mountain Views! No Homes Behind You or on one side - You have PRIVACY! Beautiful Water Feature and Firepit in a Professionally Landscaped Backyard! Pavered Front Courtyard & Back Covered Patio & much more! Easy Access to Major Freeways and Great Shopping and Great Schools! You're going to Love this home!

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3231 Huckleberry Way Wickenburg, AZ 85390

$587,000

2 Beds

2.5 Baths

1,751 SqFt

Status Active

MLS # 6747290

Property Type Single Family Residence

Price Type --

Welcome to this meticulously maintained Maverick home by Shea, located in the highly sought-after subdivision of Wickenburg Ranch. This home offers an unparalleled blend of luxury, comfort, and stunning natural beauty. Enjoy panoramic vistas from multiple vantage points, including the generous owner's suite, which overlooks the picturesque Lake Park. The heart of the home features elegant grey cabinetry, gleaming granite countertops, and a spacious kitchen island, ideal for both cooking and entertaining. The seamless flow between the kitchen, dining, and living areas creates a welcoming space perfect for gatherings. A wired speaker system enhances the ambiance throughout these areas. Retreat to your expansive owner's suite, complete with breathtaking views, a luxurious en-suite bathroom featuring double sinks, a walk-in shower, and a generously sized walk-in closet. The split floor plan ensures privacy for guests with a well-appointed guest room that includes its own exterior door leading to a private sitting area and a dedicated en-suite bathroom. A stylish half bathroom serves as a powder room for guests, adding an extra layer of convenience. Benefit from a fully paid solar system that will be included upon close of escrow, offering energy savings and sustainability. This home combines modern design with exceptional functionality, all set within a picturesque landscape.

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17751 W Bloomfield Road Surprise, AZ 85388

$587,000

4 Beds

3 Baths

3,110 SqFt

Status Active

MLS # 6719168

Property Type Single Family Residence

Price Type --

A beautiful 4 bed, 3 bath residence with a *PREPAID SOLAR LEASE* in Sarah Ann Ranch is now on the market! Nestled on a premium corner lot & featuring great curb appeal, a low-care landscape, and 4 car tandem garage! Discover spacious dining & living areas w/soaring ceilings, elegant wood-look flooring, soft carpet in all the right places, modern light fixtures, and custom palette throughout. The gorgeous kitchen is equipped w/everything you'll need for home cooking, white cabinetry w/crown moulding, a pantry, stainless steel appliances, and an island complete w/a breakfast bar. The primary bedroom boasts a walk-in closet and a full ensuite w/dual sinks for added comfort. You'll also find a cozy den ideal for an office or reading nook. Finally, the wonderful backyard includes a covered patio, attached pergola, extended paver seating area, fire pit, artificial turf, and a sparkling blue pool perfect for the warm summer days! What are you waiting for? Act now!

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2135 S Bristol -- Mesa, AZ 85209

$587,000

4 Beds

3 Baths

1,883 SqFt

Status Active

MLS # 6709098

Property Type Single Family Residence

Price Type --

Nestled in the heart of coveted Augusta Ranch, this home epitomizes elevated living. With its spacious open-concept floor plan boasting four bedrooms and three baths, it's an entertainer's dream. The family room and inviting kitchen areas are ideal for hosting gatherings. Enjoy the beautiful low-maintenance backyard, complete with a large pool that can be enjoyed year around thanks to a gas heater addition (2023). Updates like a new roof (2023) and renovated bath fixtures add modern convenience, while the community's amenities, including an executive golf course, bar/grill, abundant events, parks, and a school, ensure a lifestyle of comfort and enjoyment. This home is a must-see!

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3349 E Oriole Drive Gilbert, AZ 85297

$587,000

4 Beds

3 Baths

2,292 SqFt

Status Active

MLS # 6724272

Property Type Single Family Residence

Price Type --

Interest rates are down. so secure your next home. Seller is willing to help with buyers closing costs, so be sure to come check out this beautiful single story home that boasts 4 bedrooms ( 2 of which are en suites) den, formal living and dining, 3 full baths, split floor plan, private pool for those hot summer days, spa for those cool desert nights, all new windows 2023, new hot water heater in 2023, solar panels to keep your electricity bill down all on a large corner lot located close to the 202 freeway in a sought after Gilbert neighborhood. The only owner has used this as a vacation home and has maintained the home nicely and it is looking for it's new owner. Stop by and see your new home today.

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