NAHB: Builder Sentiment Improves in August

Buyer Beware: 4 Common Problems Home Sellers Try to HideAccording to the National Association of Home Builders, August home builder sentiment met analyst expectations and rose by two points to a reading of 60; July’s reading was revised downward to 58. Two out of three components used in calculating the Home Builder Index were higher. Builder sentiment concerning current housing conditions rose two points to 65. Builders were also more confident about housing market conditions within the next six months; August’s reading was one point higher at 56. Builders were less confident about buyer traffic in new housing developments. August’s reading slipped one point to 44.

Any reading above 50 indicates that a majority of builders surveyed were confident in market conditions; readings for buyer traffic have not reached 50 since 2005.

Building More Homes Seen as Solution to Persistent Home Shortage

Shortages of available homes have caused demand for homes to surge in recent months. As demand increases, home prices rise. This thwarts positive conditions including low mortgage rates and recent reports of rebounding job creation. If builder confidence rises, it follows that builders will expand construction, but builders also cited factors including regulatory obstacles, a lack of qualified labor and shortages of land available for development as ongoing concerns.

Regional Confidence Readings Mixed

Regional readings for builder confidence were mixed; builder confidence in the Northeast increased by two points to 41. In the South, builder confidence also rose two points to 63. Builder sentiment in the West was unchanged at 69 while builder sentiment in the Midwest fell two points to 55.

Although growing builder confidence considered positive in light of home shortages, analysts said that single-family housing starts remain well below historical levels.

In related news, NAHB reported that readings for the 55 plus housing market index increased by one point to 57 as compared to the first quarter reading and was unchanged as compared to the second quarter of 2015. As with the general HMI, any reading over 50 indicates that more builders than fewer are confident in market conditions for 55 plus housing markets.

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5915 E Arcadia Lane Phoenix, AZ 85018

$7,500,000
6 Beds
7.5 Baths
8,005 SqFt
Status Active
MLS # 6747724
Property Type Single Family Residence
Price Type --
Stunning 2-level Arcadia estate with Camelback Mountain views located on a quiet street in the Hopi district. Mature landscaping and gorgeous grounds encase this timelessly designed home, perfect for your family. Chef's kitchen includes custom cabinets, high-end stainless steel appliances, butler's pantry, wine room, and large butcher's block kitchen island with open family room, breakfast seating, and additional formal dining room and great room with fireplace. Owner's suite located on main level features seating area, fireplace, private entry to the backyard, dual vanities, freestanding bathtub, oversized shower, and 2 walk-in closets. Second level includes 2 en-suite bedrooms and private lounge. Home features separate guest house and detached media room with full pool bath. Backyard showcases pool and spa, covered patio, large built-in BBQ area with pizza oven and wood burning fireplace, and large grass areas - perfect for entertaining. Enjoy Arcadia and Scottsdale's top resorts, golf, dining, and restaurants just minutes from your new home.

341 E Monte Vista Road Phoenix, AZ 85004

$7,500,000
6 Beds
10 Baths
8,225 SqFt
Status Active
MLS # 6766942
Property Type Single Family Residence
Price Type --
This unique Estate is one of a kind— showcasing a 100% retrofit and new build with the efficiency, technology and security of a modern 2022 Estate along with the elegance and prestige of a classically charming historic registered 1920's home. With more than 7000 sq feet of finished decks it's a perfect venue for upscale gatherings, grand events and raising your family. Upon entering through a stunning oversized glass pivot door, you're greeted by a chic glass floor walkway above with state-of-the-art custom accent lighting that leads you through expansive living areas. The heart of the home is a chef's kitchen designed for the most discerning culinary enthusiasts, featuring custom Heston refrigerators, a 17-element stove, and a custom wine refrigerator. The adjacent living room equipped with floor to ceiling folding glass doors provides an indoor/outdoor experience that captivates the modern yet timeless elegance of this magnificent estate. The wine bar, cigar/china room and sleek elevator add a touch of new age convenience to the home's historic character. Hand selected imported Burmese wood floors lead you to the dining area adorned with crystal chandeliers, all equipped with lift systems for easy cleaning. Guests may enter through the historic entrance greeting them an impressive backlit opal floor and custom spiral glass staircase. For relaxation, retreat to the master suite, complete with a hot tub on the private patio, a mini kitchen, and a wine room. Each bedroom features its own ensuite bathroom and independent AC zone. The property is also equipped with smart home technology throughout, making it easy to set the perfect ambiance for any event. Outside, the Malibu-style backyard features a vast pool with a swim-up bar, custom waterfall and tanning bubbler platform, white sand lounge areas, and an outdoor kitchen equipped for any occasion. Pool also features a spa and a cold plunge. A spa building with a steam shower, sauna, and locker room complements the lifestyle, while a gym with sliding glass doors offers an indoor-outdoor fitness experience. The guest house provides privacy for visitors, with a fully equipped kitchen, custom tile flooring, and sliding glass doors. Every inch of this home has been redesigned with both luxury and functionality in mind, from the hidden TV in the living room to the automatic wine bar and custom-built closets. With its 800-panel APS installation, all-new commercial-grade utilities, and smart home systems, this estate blends historic appeal with cutting-edge functionality. Advanced soundproofing insulation ensures serenity throughout. Reimagined for modern living, this distinguished estate is a work of art honoring the history of Phoenix, while offering the perfect balance of elegance, technology and comfort.

42820 N Fleming Springs Road Cave Creek, AZ 85331

$7,500,000
6 Beds
7 Baths
10,159 SqFt
Status Active
MLS # 6771775
Property Type Single Family Residence
Price Type --
Magnificent private 54 acre retreat surrounded by thousands of dazzling saguaros. This iconic European Masterpiece sports top of the mountain breathtaking views provides peace & tranquility. Orchards, florals cascade off stone pillars with verdigris lanterns & exquisite stone detail mixed with timeless architecture nestled among beautiful grounds, resort style diving pool, water fall and slide. Once inside be charmed by the 100 year old barn wood floors, curvilinear walls encased in glass, an Italian inspired kitchen w/everything needed to entertain mightily... Multiple dining areas offer numerous options to all in residence. Generous master suite with private balcony, guest wing has 3 ensuites plus well-appointed main floor study. Take the elevator to lower lever which showcases multiple rooms plus game room, wine cellar, private theater and fitness studio. The paved nature trail is perfect for meditation and inspiration. Unique potential w/access to two 10 acre parcels. Fully fenced backyard with romantic stone walkways that meander throughout the property. This home is being sold with lot parcel 202-18-013-C and lot parcel 202-18-013-D included in the purchase price.

4723 E Mariposa Street Phoenix, AZ 85018

$7,500,000
5 Beds
6.5 Baths
6,700 SqFt
Status Active
MLS # 6752496
Property Type Single Family Residence
Price Type --
MOVE IN READY...Discover Arcadia, where Vista General has crafted another gated masterpiece, designed by Matt Thomas Architecture, with interiors by NoMad Design and landscaping by Berghoff Design Group. This modern ranch home epitomizes luxury living, showcasing the stunning beauty of Camelback Mountain from its serene cul-de-sac location. Walls of glass, meticulous finishes, and lush grounds create an inviting atmosphere for you and your family. With 5 en-suite bedrooms, 6.5 baths, an office, game room, kids hangout, and bonus room, there's space for every lifestyle. Whether you're relaxingin the private heated pool/spa, BBQ and indoor/outdoor bar or entertaining guests, this brand new construction offers the ideal retreat in Arcadia. Do not miss out on this opportunity!

6524 E Stallion Road Paradise Valley, AZ 85253

$7,499,000
4 Beds
6 Baths
5,466 SqFt
Status Active
MLS # 6691277
Property Type Single Family Residence
Price Type --
Introducing Santa Fe Hacienda, an exquisitely restored and reimagined Nance masterpiece by Modern Nest situated on a generous 1-acre lot in the heart of Paradise Valley. This stunning residence showcases a captivating blend of Santa Fe-style design with luxurious modern and rustic accents throughout its expansive 5466 square feet and its 4 bedrooms and 6 bathrooms. Boasting an impressive main living area adorned with an oversized gas fireplace, two comfortable sitting areas, and a handcrafted wet bar with a limestone sink, and walk-in wine cellar, this home offers an unparalleled setting for both relaxation and entertainment. The elevated chef's kitchen is a true culinary haven, featuring reclaimed terracotta flooring, hand-hewn wood ceiling beams, impeccably designed cabinetry, high-end lighting fixtures, and top-of-the-line Wolf and Sub Zero appliances. The butler's pantry, just off the kitchen, offers additional storage paired with charming design and function. Adjacent to the kitchen, an elegant dining space awaits, complemented by picturesque windows that flood the room with natural light. The owners suite is a sanctuary unto itself, with a cozy fireplace, a private patio retreat, and an office with its own outdoor patio. The bath is a spa-like oasis, complete with a freestanding copper bathtub nestled near another fireplace, separate vanity areas, and a luxurious shower experience. The oversized closet is a masterpiece of design, featuring custom cabinetry, abundant storage, and ample natural light. A spacious media room, equipped with a convenient kitchenette, provides the perfect spot for casual gatherings and relaxation, while three additional bedrooms offer comfort and privacy, each with its own ensuite bath and outdoor patio access. The functional yet stunningly designed mudroom/laundry room boasts dual washers and dryers, abundant cabinetry, and a convenient drop zone, ensuring effortless organization and convenience. Outside, the sprawling backyard beckons with expansive patio spaces, an outdoor kitchen with a pizza oven and fireplace, and a newly rebuilt pool surrounded by lush landscaping and high-end lighting and sound systems. This home epitomizes elevated living, seamlessly blending authenticity with modern luxury. An absolute must-see to fully appreciate its exceptional offerings.

9203 E Brahma Road Scottsdale, AZ 85262

$7,450,000
5 Beds
7 Baths
9,000 SqFt
Status Active
MLS # 6777297
Property Type Single Family Residence
Price Type --
Experience the epitome of luxury and seclusion in this award-winning Spanish Santa Barbara estate, nestled on 12.86 acres of pristine desert land with stunning panoramic views of the Sonoran Desert and surrounding mountains. This breathtaking home, honored with the prestigious Vision Design Award for Best Outdoor Shading in 2022, seamlessly blends indoor and outdoor living with a 36-foot movable glass wall leading to a private backyard retreat. From the dramatic stone fireplace in the great room to the vaulted wood-beamed ceilings and elegant stone walls, every detail speaks of timeless sophistication. The chef's kitchen is equipped with top-of-the-line Viking appliances, including four wine and beverage refrigerators, while the wine cellar and custom cabinetry offer an exceptional setting for entertaining.With 9,000 square feet of living space, all on one level with no interior steps, this 5-bedroom, 7-bath estate is designed for ultimate comfort and privacy. The luxurious master suite features a Cantera stone fireplace and dual his-and-her baths with separate showers, water closets, and vanities. An attached guest suite provides ample space with its own kitchen, family room, and two fireplaces. Outdoors, the estate continues to impress with a 35 thousand gallon negative edge pool, spa, fire pit, and multiple patios that capture the beauty of the surrounding landscape. Additional amenities include a media room with a wet bar, a full-size pickleball court in the garage, with space for up to 8 vehicles and a circular motor court. Enhancing the home's efficiency, it features an Avena Solar system, significantly reducing energy costs and promoting sustainable living. Enjoy the private trail leading to the wash, this home seamlessly combines elegance, tranquility, and peace of mind.

6825 N 39th Place Paradise Valley, AZ 85253

$7,450,000
4 Beds
4.5 Baths
6,209 SqFt
Status Active
MLS # 6542969
Property Type Single Family Residence
Price Type --
New luxury hillside construction with a Q4 2024 delivery. Positioned high up the mountain, on a private 1+ acre lot in a 24hr guard-gated enclave in Paradise Valley. Glass tile pool and spa, Cristallo Quartzite slabs, and custom cabinetry throughout. One of the only hillside homes with a level grass yard! Embrace Arizona's indoor / outdoor living, while enjoying privacy and city light views. 6,200+ SF with (4) ensuite bedrooms, a glass walled exercise room, study and 3-car garage w/ room for 3 lifts. Attached guest suite with a separate entrance from the outside, and its own private patio with mountain views This luxury construction has all the materials and upgrades that a sophisticated buyer expects. Crestron / Lutron, 9 security cameras. The DNP HOMES quality must be seen!

4836 E White Gates Drive Phoenix, AZ 85018

$7,300,000 - 4Br/6Ba -  for Sale in Red Rock, Phoenix
Open House
$7,300,000
4 Beds
5.5 Baths
7,100 SqFt
Status Active
MLS # 6781919
Property Type Single Family Residence
Price Type --
• CAMELBACK MOUNTAINSIDE +Unbeaten Valley Wide SUNRISE to SUNSET•180° VIEWS •CITYLIGHTS •DOWNTOWN SKYLINE •MOUNTAIN VIEWS • All ON 1-Level & Privately GATED ESTATE w GUEST CASITA •Negative-Edge Pool•Spa •Grass Lawn Play Yard +MiniSport Golf Putting Course •THEATER-Game rm •(5) EN-SUITE BRs w Vaulted/Beamed Ceilings •Carved Walnut •Italian Travertine warm Venetian Plaster and SANTA BARBARA style.• Circle Driveway • 3 Car Garage w •Ample GUEST PARKING •Over 7,000'sf w Ideal N/S Exposure on a moderately Larger Than 1 Acre PARADISE VALLEY like lot •Walk-In WINE CELLAR •VIKING Appliances •Open Breakfast Island •Formal Living •Family Great Rooms •Executive Home Office multiple Fireplaces SUNSETS Elevated Over Arcadia Camelback Mountainside

4636 E Moonlight Way Paradise Valley, AZ 85253

$7,295,000
7 Beds
6.5 Baths
9,066 SqFt
Status Active
MLS # 6781732
Property Type Single Family Residence
Price Type --
Gorgeous home with NO HOA comes fully furnished, down to the towels! Perfectly nestled in the Phoenix Mountain Preserve, with unobstructed mountain, valley & city light views. Stunning Turkish Versailles travertine & hardwood flooring throughout, one of the many beauties of this home are all of the indoor/outdoor living options. The chefs kitchen looks out onto a''rainforest'' waterfall, stainless steel appliances, slab granite counters & custom cabinetry.The primary suite, built in a rotunda design, boasts 360 degree views.

11987 E Buckskin Trail Scottsdale, AZ 85255

$7,250,000
5 Beds
5.5 Baths
6,505 SqFt
Status Active
MLS # 6759737
Property Type Single Family Residence
Price Type --
Plans are approved and ready for permits to break ground on this stunning desert modern prairie estate designed in collaboration with renowned architect Cosan Studio and brought to life by luxury builder Desert Sky Development. Situated on a 2.26 acre cul-de-sac lot in the exclusive gated Troon Canyon Estates, featuring just 11 homesites and unobstructed views. This To Be Built project gives you an opportunity to work directly with the design team to make your custom selections throughout the process. Arrive through your auto-court to your 4 car garage, including an additional full size RV Garage/showroom at the front of property. Featuring 6,505 sq.ft of single-story living, the main residence offers an expansive kitchen and great room with floor to ceiling windows overlooking your resort style backyard and the natural desert beauty and distant mountain views. A wet bar with a retractable glass wall, ample covered patio space with fireplace and outdoor kitchen and BBQ make indoor/outdoor entertainment seamless and the ultimate in luxury living. A private trail leads to a totally secluded 2 bedroom guest casita with full kitchen and living room for any visitors to enjoy their own space away from the main house. Wolf & SubZero appliance package will be included throughout.

18651 N 101st Place Scottsdale, AZ 85255

$7,250,000
5 Beds
5.5 Baths
5,880 SqFt
Status Active
MLS # 6759632
Property Type Single Family Residence
Price Type --
Refined elegance with a melody of eclectic Southwest aesthetic, this Silverleaf Casita was a custom creation of architect Jeff Berkus and is ideally situated on two homesites backing to a craig maximizes the Sonoran surrounding views. Using a mix of materials and influences brings a fresh twist to Southwest style. With attention to detail in design, this home offers functional living spaces with 5 bedrooms, 6 baths including a private entry guest house, and an upstairs bunkroom/den with expansive patio overlooking pool and outdoor living, plus executive office, theatre room, and hobby room. Sensible sophistication at its finest with stone surfaces and reclaimed finishes, and open layout that suits the region's indoor-outdoor lifestyle, with plenty of gathering spots to accommodate friends and family. Brought to life with authentic detailed interiors by Caroline DeCesare of acclaimed DeCesare Design Group. Hand crafted and carved built-ins by Scottie Reid include the dining room breakfront, living room bookcase, and iron-strapped kitchen island. Inspired by a visit to Italy the owner's incorporated features bursting with graceful character throughout including a Mosaic kitchen mural imported from Italy, and Murano glass chandelier in dining room hand-picked by owner while visiting Venice. Hand painted ceilings offer a subtle use of pattern fostering an air of elegance. Abounding with exclusive finishes Italian style limestone mantel, beam-lined ceiling, and antiqued cabinets. An entertaining dream with rooms flowing from one to another opening with telescoping glass doors to the outdoor living spaces backing to a distinct craig backdrop with intentional southwest exposure for 'winter summers' featuring an alfresco dining room with fireplace, pool with water feature and spa, covered ramada with fireplace, eat in outdoor kitchen, and firepit with sitting area. Eat in kitchen island boasting Wolf and SubZero appliances, with stylish limestone vent, with an appropriate butler bar with wine fridge, coffee maker, microwave and refrigerator. Owner's suite impresses with a sophisticated Southwest flare with intricate turquoise hues in threaded in the plaster, shapely tiles custom colored to marry the suite hue with rustic brown patina reflected in the carved vanity and copper soaking tub. Desirable 3 car garage pristinely maintained. Lutron home system. Located in the coveted 32 home cove, conveniently located just off the drive to the Silverleaf clubhouse, the Casitas modeled after the Silverleaf clubhouse, are eminent in style and design, for the most discerning homeowner

8601 N 64th Place Paradise Valley, AZ 85253

$7,250,000
4 Beds
4.5 Baths
7,445 SqFt
Status Active
MLS # 6709079
Property Type Single Family Residence
Price Type --
Experience timeless sophistication and charm in this COMPLETELY REBUILT Paradise Valley Estate. Nestled amidst breathtaking mountain views and verdant landscaping, this home offers an oasis of tranquility. Situated on a lush green cul de sac acre+, Paradise Valley is the heart of Arizona and is now being boasted by the Wall Street Journal as one of the most desirable neighborhood's in the United States. Step inside to discover a seamless fusion of traditional allure and contemporary refinement. The spacious layout effortlessly connects living areas, showcasing a gourmet kitchen adorned with high-end appliances and unparalleled designer finishes. Retreat to the primary suite boasting a luxurious spa style bathroom and sensational his + her closets that will have your head spinning. Alongside the primary suite, discover three additional ensuite bedrooms, an office, and a den. Outside, indulge in year round al fresco dining pool side or relax your muscles in the heated spa. This sprawling property offers plenty of room to add a guest retreat or sport pickle ball court. Too many stellar features to mention .... you will not be disappointed!