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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4062 E Round Hill Drive Phoenix, AZ 85028

$575,000

2 Beds

2 Baths

1,461 SqFt

Status Active

MLS # 6747020

Property Type Single Family Residence

Price Type --

Homes in this sought-after neighborhood rarely come on the market. This one is a gem. Pristine and well maintained, this property is open and bright with its high ceilings and great room floorplan. The spacious kitchen boasts plenty of cabinets and counter space. With its bay window, the lovely breakfast room is the perfect setting to enjoy morning coffee and intimate meals. The primary suite features a sprawling vanity with dual sinks, a large walk-in closet and private access to the back yard. The grounds of this patio home complex are lush green and meticulously maintained. A sparkling community pool is a simple walk from this home. Living in Hidden Lakes is more than a lifestyle, it's a hidden retreat that you will treasure.

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4715 E Melanie Drive Cave Creek, AZ 85331

$575,000

2 Beds

2 Baths

1,996 SqFt

Status Active

MLS # 6730564

Property Type Single Family Residence

Price Type --

Discover the charm of this enchanting patio home in the desirable Tatum Village! You'll love the spacious living areas, perfect for hosting and entertaining guests. With vaulted ceilings, decorative ceiling fans, graceful archways, a designer's palette, a wet bar, wide louvered shutters, a cozy fireplace, and multi-sliders to the backyard are features worth mentioning. The kitchen is equipped with corion counters & backsplash, recessed lighting, white cabinetry, an island, a breakfast bar, and a bright breakfast room. Take advantage of the sizable den with a closet! Carpeted main suite has direct backyard access, a walk-in closet, a private bathroom with dual sinks, and a walk-in tub. The screened-in and covered patio are perfect for afternoon relaxation or fun BBQs! Freshly painted and new carpet. Community Pool, tennis and pickleball. Gated community. This just has it all!

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18557 W Turquoise Avenue Waddell, AZ 85355

$575,000

6 Beds

4 Baths

3,682 SqFt

Status Active

MLS # 6747160

Property Type Single Family Residence

Price Type --

Seller to offer $10k in buyer's concessions! ** 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 & huge walk in closet, & a vanity area. Large backyard has covered patio, grass, & basketball court that doubles as extra parki

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1148 E Harvest Road San Tan Valley, AZ 85140

$575,000

5 Beds

3.5 Baths

3,281 SqFt

Status Active

MLS # 6695885

Property Type Single Family Residence

Price Type --

PRICE REDUCTION !! Welcome home!! This home offers a spacious open floor plan, Offering 5 bedrooms, Den, 3.5 bathrooms, 3 car garage. RV gate with a concrete pad. Entertainers paradise. Backyard features Diving Pool . Firepit, Barbecue, and even a private garden on side of home. All Bedrooms are upstairs . Master Bedroom features a huge walk in closet and a balcony for evening star gazing. As you enter from the garage you have a nice sized Mud room. Gorgeous Kitchen featuring white subway tile backsplash and granite countertops. Fireplace in Living room. French doors leading to backyard. Den is located downstairs. If you love privacy and space this is your home!!

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26028 N 66th Drive Phoenix, AZ 85083

$575,000

4 Beds

3 Baths

2,119 SqFt

Status Active

MLS # 6757394

Property Type Single Family Residence

Price Type --

Location, location, location! This home has it all! In demand north Phoenix Eagle Ridge location with mountain views! Homes do not come up for sale frequently in this idyllic neighborhood. Close to shopping, schools, and parks. Multi-level open floor plan with expansive vaults and skylights to let in lots of light. Recently updated primary bath with huge walk in shower. Large yard and covered patio for entertaining. Inviting pebble-tec pool with beautiful water feature will captivate you! Outdoor southwest style fireplace to enjoy under the star filled sky at night while you grill at the built in BBQ. Large 3 car garage with expansive cabinets for storage. The main level has a convenient 4th bedroom for guests or as an in home office. More! The heart of the home, the kitchen, features multiple pantries with abundant storage and pull out drawers in convenient locations, as well as easy access to both the living room and family room. Newer high efficiency AC and air handler installed by current owner as well as water heater. This home has energy saving feature upgrades as well with newly installed premium Andersen windows with a transferable warranty and a fully owned 5KW solar system to keep your energy bills low. Durable bamboo and tile flooring in all the high traffic areas of the home as well. Your new home awaits you!

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4861 S Cobblestone Street Gilbert, AZ 85298

$575,000

3 Beds

2 Baths

2,196 SqFt

Status Active

MLS # 6702929

Property Type Single Family Residence

Price Type --

Welcome to this beautifully maintained gem nestled in the sought-after Vista Del Oro community of Gilbert! This home is single story, open floor plan & features 3 spacious bedrooms plus a large den, ideal for a home office or children's playroom. The open kitchen checks all the boxes as the perfect heart of the home with extended cabinets and ample space for family gatherings. The backyard is made for the ideal Arizona living experience with a covered patio, meticulously maintained turf and mature trees-- perfect for relaxation or entertaining. The built-in mister system ensures your outdoor enjoyment all year round! The generous size 2-car garage is ready to cater to all your organizational needs with the built-in storage cabinets. Experience the best of Gilbert living in a home that combines functionality and a prime location. Don't miss out on making it your new home!

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9571 W Fossil Creek Road Strawberry, AZ 85544

$575,000

4 Beds

2 Baths

2,208 SqFt

Status Active

MLS # 6661672

Property Type Single Family Residence

Price Type --

MASSIVE $25K PRICE IMPROVEMENT!! LOOKING FOR A HIGH-COUNTRY PROPERTY THAT WILL FIT THE WHOLE FAMILY, A FEW HORSES AND ROOM TO SPARE? THIS IS IT! THIS SPACIOUS 4 BEDROOM, 2 BATHROOM HOME SITS ON AN ACRE OF AMAZINGNESS. LOCATED IN STRAWBERRY AT AN ELEVATION OF 6000 FT. IN 2020 THE HOME HAD A COMPLETE TOP TO BOTTOM REMODEL INCLUDING A NEW KITCHEN, BATHS, FLOORING, FIXTURES ETC. THIS HOME HAS EASY YEAR-ROUND ACCESS WITH TONS OF FLAT PARKING, A HUGE YARD TO ENTERTAIN, FRONT AND REAR YARD FIREPITS AND SPECTACULAR VIEWS OF THE PONDEROSA FOREST FROM EVERY ANGLE. THIS CABIN COULD BE USED FOR FULL TIME LIVING, A SECOND HOME OR IT HAS A PROVEN TRACK RECORD AS A SUCCESSFUL AIRBNB. THE HORSE FACILITIES ARE SPLIT/FENCED FROM THE MAIN PROPERTY AND INCLUDE MULTIPLE TACK ROOMS AND COVERED HAY STORAGE.

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22663 E Rosa Road Queen Creek, AZ 85142

$575,000

4 Beds

3 Baths

2,165 SqFt

Status Active

MLS # 6722640

Property Type Single Family Residence

Price Type --

Charming home nestled in the lovely Spur Cross Community located on a corner lot next to a small green belt area. Don't miss this opportunity to have a home within a home! Gen Suite with separate exterior entrance, living area, kitchenette, bedroom and full bath. Home has additional 3 bedrooms, Great room, Kitchen Island, 42in upper Cabinets, Shutters throughout. Back yard includes covered patio, pavers and turf! Clean and move in ready!

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22408 N Las Vegas Drive Sun City West, AZ 85375

$575,000

2 Beds

2 Baths

2,033 SqFt

Status Active

MLS # 6745215

Property Type Single Family Residence

Price Type --

Step inside this beautifully updated 2-bedroom plus a den, home in the sought-after Sun City West community. Freshly painted throughout & featuring brand-new wood-look tile flooring in the main living areas. The kitchen is showcasing sleek quartz countertops, white wood shaker cabinetry, chic shiplap backsplash & stainless steel appliances. The primary suite is boasting a generous walk-in closet & plush new carpet. The bathroom features unique mosaic tile, a black vanity, & a quartz countertop, creating a sophisticated & spa-like environment. The spacious 2 car garage is equipped w/ ample storage cabinets. The backyard has a covered patio, ideal for relaxing & enjoying the beautiful desert landscaping that surrounds it. To top it all off, this home also features a brand-new roof & HVAC.

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19234 N 268th Drive Buckeye, AZ 85396

$575,000

3 Beds

2.5 Baths

2,341 SqFt

Status Active

MLS # 6672585

Property Type Single Family Residence

Price Type --

Impeccable turnkey oasis! NEW BUILD in May 2023! EXTENDED Refuge model offers 2 master bdrms + 3rd bdrm & den. An open floor plan seamlessly connects the kitchen to the breakfast room w/slider & Great Room featuring a tiled gas fireplace wall & a double slider leading to the extended travertine patio w/pergola, rolling shades on sliders, & gas bib. The extd master suite impresses with a tray ceiling, tiled shower, double sinks, & lg closet. Kitchen has granite counters & sink, tile backsplash, staggered cabinets w/pull-out drawers, SS appliances, gas stove, RO, & a walk-in pantry. Other features include landscaped yard, paver driveway, leaders & gutters w/French drain, water softener, tankless water heater, & laundry w/cabinets. LG. EXTENDED 2-car garage + A SEPARATE GOLF CART GARAGE!

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14626 W Futura Drive Sun City West, AZ 85375

$575,000

2 Beds

2.5 Baths

2,580 SqFt

Status Active

MLS # 6755108

Property Type Single Family Residence

Price Type --

Wonderful south facing desirable Sun City West home, with many upgrades. Great street appeal in wonderful neighborhood, across street from golf course. Very Private well maintained landscaping front and back. Granite countertops throughout. Plantation shutters on front windows. Gas fireplace and built ins in family room. Updated Master bath with huge walk in shower and vessel sinks. Convenient Den/office. French doors to rear covered patio wonderful spot for Morning coffee or Happy Hour. Inside laundry with sink. Golf cart garage and plenty of storage in 2 car garage. Some furniture available outside escrow. Roof redone January 2024. You need to see this one it is Special !

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142 W Ivanhoe Place Chandler, AZ 85225

$575,000

3 Beds

2 Baths

1,619 SqFt

Status Active

MLS # 6711592

Property Type Single Family Residence

Price Type --

Calling All Investors! Long term tenant in place currently paying $5,500 in rent until December 2024. Tenant willing to renew for minimum 12-18 month extension & Seller willing to do up to $150K seller carry back loan! Behavioral Group Home licensed up to 5 residents in Chandler AZ with long term tenant in place (Real Estate Only) - priced at over a 10% cap rate! Perfect investment opportunity or 1031 exchange opportunity to purchase a highly profitable and extremely easy rental income property. Tenant pays for utilities except solar payment. Property can be zoned for 10 with addition sq ft and fire sprinklers. The tenant has been running his business in the home since 2020. Complete rental history available including all operating expenses. Low overhead and easy rental income home.

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