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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8301 E San Salvador Drive Scottsdale, AZ 85258

$1,625,000
4 Beds
2.5 Baths
2,556 SqFt
Status Active
MLS # 6760645
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the desirable McCormick Ranch neighborhood! This stunning remodel boasts hardwood floors and a vaulted ceiling with striking wood beams, creating an inviting atmosphere. Enjoy the warmth of the fireplace in the spacious living area, which seamlessly connects to the upgraded kitchen featuring Thor appliances and an oversized range—perfect for culinary enthusiasts. The accordion slider and new windows, both with a lifetime warranty, flood the home with natural light. Step outside to a beautifully refinished Pebble Tec pool surrounded by cool decking, and entertain with ease at the built-in BBQ. The newly landscaped front and backyards enhance curb appeal, complemented by a modern smooth stucco finish and a striking black iron front door. Luxurious marble countertops throughout add a touch of elegance. Don't miss your chance to own this exquisite property!

14533 E Buckboard Court Fountain Hills, AZ 85268

$1,625,000
3 Beds
3.5 Baths
2,745 SqFt
Status Active
MLS # 6766731
Property Type Townhouse
Price Type --
BEST VIEW AVAILABLE RIGHT NOW IN ADERO CANYON! Stellar Lock & Leave property!**NO Exterior maintenance, Roof included, No Interior steps ** This stunning property offers Views of the City Lights. Wall to Wall sliding doors allow for Indoor/Outdoor living w/12ft Beamed Ceilings. The Chefs kitchen exudes elegance & sophistication. Wolf Appliances. Private yard w/ in ground spool/hot tub. Supersized 3 car tandem garage. Each Bedroom has its own ensuite allowing for total privacy for you and your guests. Other features include Custom Iron front door, Italian Beige & White Porcelain tile flooring at foyer followed by neutral hardwood that carries thru to the home. Primary Ensuite features limestone counters! Come see us today!

36547 N Montalcino Road Scottsdale, AZ 85262

$1,625,000
3 Beds
3.5 Baths
4,257 SqFt
Status Active
MLS # 6773327
Property Type Single Family Residence
Price Type --
This immaculately maintained, Tuscan-inspired home, built in 2016 by Toll Brothers, offers all the luxuries of a newer build without the hassle of construction. With no interior steps, the single-level layout provides seamless living. As you enter through the gated courtyard, complete with a cozy fireplace, the arched steel and glass front door sets the tone for elegance. The expansive great room showcases an open-concept kitchen and family room with a fireplace and a wall of glass, perfectly framing the backyard. The chef's kitchen is a culinary dream, boasting ample cabinetry, granite and quartz countertops, a large center island, and a wraparound peninsula with seating. High-end stainless steel appliances include double wall ovens, a side-by-side fridge/freezer, built-in microwave, and beverage fridge. The adjacent formal dining room is accompanied by a sophisticated wine room featuring a stunning glass wall, custom cabinetry, and display racks for your wine collection. Situated on a corner lot while backing to an open area, the backyard is an entertainer's paradise. It features a sparkling pool with a water feature, an elevated spa with a fire pit that wraps around the spa for added ambiance, and paver-lined covered patios and lounge areas. A built-in BBQ, raised garden planters, and a charming pergola complete this inviting outdoor space. Most of the exterior furnishings are available with the house, if desired. A separate secondary family room, accessible from the outdoors, includes clerestory windows and provides the perfect space for game days or casual gatherings. The primary suite is a serene retreat with its own private patio, accented by a stacked stone water feature and lush planter boxes. The spa-like primary bath includes dual vanities (one with a makeup area), a luxurious soaking tub, and a dual-entry walk-in shower. Two additional guest suites and guest baths, are split from the primary for added privacy, along with a separate den/office featuring custom built-ins and entry courtyard access. The home also includes a three-car garage with epoxy flooring, tile flooring in the common areas, plantation shutters and window treatments, upgraded carpet in the bedrooms, powder bath, large laundry, and many luxurious details throughout. Most furnishings and accessories available by separate bill of sale.

19771 E Willow Drive Queen Creek, AZ 85142

$1,625,000
5 Beds
4.5 Baths
4,002 SqFt
Status Active Under Contract
MLS # 6754539
Property Type Single Family Residence
Price Type --
Don't miss this beautiful 4,000 square foot, 5 bedroom, 4.5 bath with attached guest casita on a RARE 1 acre lot in the desirable La Jara Farms community! Backyard is a dream for sports lovers - half court basketball, 2 in-ground trampolines, putting green and 70' batting cage. Enjoy entertaining with the heated pool, spa and alumawood pergola seating area. Step inside to pure luxury! Soaring 12' ceilings in the kitchen + family room. Gourmet kitchen includes massive island, farmhouse sink, stainless appliances, double ovens, gas range and large pantry. Master bedroom includes electric fireplace and 2 walk-in closets, with one leading to laundry room. Jack & Jill for secondary beds + a bedroom ensuite and the guest casita has its own private entrance. Can't forget the oversized driveway and 4 car garage (not tandem). This home has it all, too many upgrades to list. It is a must see home!

6701 E Azure Hills Drive Cave Creek, AZ 85331

$1,625,000 - 3Br/3Ba -  for Sale in Azure Hills Est, Cave Creek
New
$1,625,000
3 Beds
2.5 Baths
2,355 SqFt
Status Active
MLS # 6777370
Property Type Single Family Residence
Price Type --
360 degree unobstructed mountain views abound from this unique southwest home which includes views of Continental Mountain, Black Mountain, Seven Sisters,Skull Mesa,Elephant Butte, and Black Mesa. Over 2.2 acres of peace and serenity in this 3 bedroom + den, 2.5 bath property The enormous lush courtyard is nicely shaded with large trees ,raised landscape, gas fireplace and putting green. This charming property with new appliances, saltillo and wood floors, and tastefully remodeled baths, has high ceilings, new pool with fencing, the cutest potting shed, and citrus trees.The house is almost entirely surrounded by a paved patio and plenty of outdoor seating areas to enjoy the never ending views from every angle. Bring your toys - the main home has a 2.5 car garage and a separate 4 car garage/ workshop has been added. You will be just minutes from downtown Cave Creek with all of it's restaurants, shopping and nightlife.SEE DOCUMENTS TAB FOR IMPROVEMENTS

28602 N 58th Street Cave Creek, AZ 85331

$1,625,000
4 Beds
3.5 Baths
4,102 SqFt
Status Active
MLS # 6680685
Property Type Single Family Residence
Price Type --
Step into your own private retreat in Cave Creek! This 1+ acre property offers incredible sunset views that you need to experience in person to truly appreciate. With over 4,000 sq. ft. of single-level living space, this home has it all—an expansive bonus/game room perfect for hosting friends and family, and a cozy living area complete with a stunning stone fireplace. The climate-controlled, oversized RV garage is a rare find, offering more than enough space for all your toys. Step outside into a resort-style backyard with a sparkling pool, spa, and lush desert landscaping that feels like a vacation every day. Minutes from shopping, dining, and recreation, yet offering ultimate privacy. This is a home you *must* see to believe—plan a tour today and experience Cave Creek living at its finest!

7934 W Orangewood Avenue Glendale, AZ 85303

$1,625,000
2 Beds
1.5 Baths
1,080 SqFt
Status Active
MLS # 6746362
Property Type Single Family Residence
Price Type --
Large 3.6 Acre Ranches are scarce in Glendale, but this sprawling horse property is available! The main residence features an inviting living room with a soothing palette and carpeting. Two cozy bedrooms provide peaceful retreat. Additionally, a separate modular home on the property offers versatile additional living space. The detached garages accommodate up to six vehicles & extensive storage space. The expansive grounds are an equestrian lover's dream, offering vast space for horses and facilities to maintain and train your equine companions. Don't miss out on this fantastic opportunity! R-6 Zoning also permits for developing a community if you are looking to invest and develop in the sought after city of Glendale this is your opportunity! Lets talk about the infinite possibilities!

56444 N Vulture Mine Road Wickenburg, AZ 85390

$1,625,000
3 Beds
2 Baths
2,493 SqFt
Status Active
MLS # 6757823
Property Type Single Family Residence
Price Type --
Income property in Wickenburg, spanning across 12.432 acres with an additional 5 acres available, is a remarkable real estate opportunity that offers a range of features and amenities, main house 2493 sq ft w/3 bd -2 bath, walk in pantry equipped with freezer, new washer & dryer, 2 fireplaces creating a cozy environment, new flooring in master with 2 lg closets, impressive upgraded 1800 sq ft guest house 2bd/2 bath with ample space through out, stackable washer & dryer included, outdoor fireplace, salt water pool with new system, circular driveway offers easy access to both houses & horse set up, Arena 170 x 200, hay shed & tackroom 20 x 80 with full electric & outlets, 6 horse pens with covers, 20 x 24 square pen for training, private well, 3 septics, 3 Rv hook-ups, this is a must see

1637 N Quartz Valley Road Scottsdale, AZ 85266

$1,625,000 - 3Br/4Ba -  for Sale in The Boulders, Scottsdale
Open House
$1,625,000
3 Beds
4 Baths
4,090 SqFt
Status Active
MLS # 6749533
Property Type Single Family Residence
Price Type --
One of a kind, private retreat nestled in the heart of The Boulders with no neighbors on one side,! This charming home is on a large lot and features wood-beamed ceilings, temperature controlled wine room, clerestory windows and a 720 sq. ft. detached guest house with living room, bedroom, bathroom and fireplace. The main house boasts an inviting living room, bright kitchen with island that opens to an enchanting family room and a bonus room with Murphy bed. A generous primary suite offers double walk-in closets, fireplace and sitting room/office with backyard views and additional fireplace. Enjoy the surrounding desert and views of the 11th & 12th fairways from multiple outdoor patios with fireplace, cascading water feature, built-in BBQ and private pool with additional water feature. The spacious 2 car garage has ample space for a golf cart, which is included.

12227 N 62nd Place Scottsdale, AZ 85254

$1,625,000 - 5Br/4Ba -  for Sale in Shea North Estates, Scottsdale
Open House
$1,625,000
5 Beds
4 Baths
3,082 SqFt
Status Active
MLS # 6766688
Property Type Single Family Residence
Price Type --
Beautifully updated home featuring 5 bedrooms and 4 full baths, situated on a sprawling 25,000 sqft cut de sac lot in the highly sought-after 85254 neighborhood. No HOA! A permitted addition and complete remodel were completed in 2019, with the Certificate of Occupancy issued in December. Inside, you'll be greeted by an open-concept layout with a spacious kitchen and large island. The home offers two generously-sized primary suites, each with its own luxurious bath plus three additional bedrooms & two more full baths. The backyard is perfect for both relaxation and entertainment featuring a shaded pergola, outdoor bar, above-ground jetted spa, cozy fire pit, gray brick pavers, patios, and evergreen turf. With plenty of space, there's potential for adding a detached garage, casita, further expansion. This is a spectacular primary home but can also be used as a VRBO or as a second home that can be rented out when not here. So many options!!

7151 E Rancho Vista Drive Unit 2006 Scottsdale, AZ 85251

$1,624,999
3 Beds
2 Baths
2,222 SqFt
Status Active
MLS # 6656387
Property Type Apartment
Price Type --
*SELLER FINANCING AVAILABLE IN LOW 5'S* Step into this newly remodeled luxury 3 bedroom, 2 bathroom condo, spanning an impressive 2,222 square feet. Meticulously redesigned and upgraded, this condo offers a blend of sophistication, comfort, and contemporary style. As you enter, you are greeted by a spacious open-concept living area, featuring high ceilings and an abundance of natural light. The living room provides a welcoming space to relax and entertain, with ample room for plush seating arrangements and stylish decor. The kitchen is a chef's dream, meticulously designed with top-of-the-line appliances, sleek cabinetry, and luxurious finishes. It offers a perfect balance of functionality and elegance, making it a delightful space for culinary creations. The adjacent dining area provides a seamless transition for enjoying meals with family and friends. The condo boasts three well-appointed bedrooms, each offering ample space and comfort. The master bedroom is a tranquil retreat, featuring a walk-in closet and a luxurious ensuite bathroom. The additional bedrooms are generously sized and can be utilized as guest rooms, home offices, or a combination of both. The bathrooms have been remodeled to reflect a spa-like ambiance, with modern fixtures, elegant vanities, and beautiful tilework. With 2,222 square feet of living space, this condo also one of the largest patios in the entire community. Amenities include concierge, indoor & outdoor heated pool and spa with women and men's locker room, fitness center, racquetball & basketball court. Walking distance from Scottsdale Fashion Square Mall, Old Town, restaurants, & so much more

110 Appaloosa Way Sedona, AZ 86336

$1,620,000
4 Beds
3 Baths
2,609 SqFt
Status Active
MLS # 6748783
Property Type Single Family Residence
Price Type --
Southwest Luxury and Elegance abounds within this beautifully appointed Custom West Sedona Gem built by Casa Natural. With STELLAR Red Rock views of Thunder Mountain and Chimney Rock, get ready to fall in love the moment you pass through the entry gates. Privacy and Zen-like tranquility delight the senses combined with the perfect location with easy access to hiking/biking trails, shopping and dining. Creatively and masterfully designed with UPGRADES GALORE featuring Great Room Living with 10 &12 ft ceilings. Upon entering, the massive stacked rock wall invites you in, creating harmony with the red rock views through a generous array of glass windows. Several interior walls are angled, all with rounded corners complemented by gorgeous Travertine floors, majestic 8 ft wood doors and rich cabinetry throughout. Native Trees provide privacy from every room creating the feeling of remoteness and connection to nature. Chef's Kitchen boasts granite counters, center island w/ SS prep sink and sitting area, custom cabinets including generous pantry closet with custom slide outs, Stainless Premium KitchenAid gas cooktop, fridge, double stacked ovens and newer BOSCH dishwasher, breakfast nook, wet bar w/beverage fridge and additional office space w/storage. Easy transition to casual dining on the adjacent outdoor patio. SPACIOUS Primary Bedroom Suite offers incredible red rock views, dual vanities, walk-in shower, separate tub and spacious walk-in closet with built-in shelving system. Plenty of space for guests with an additional ensuite bedroom w/walk-in closet plus two more guest bedrooms/office space. Relax and rejuvenate in nature with a choice of two patios and HUGE north facing deck while taking in views of Lizard Head Rock and Cockscomb. In the cooler months, cozy up inside with a blanket and a novel next to the warmth of the steel walled fireplace accentuated by a stacked rock wall. Additional features include ceiling mounted speakers in great room, home alarm system, Carbon Monoxide detector, Berber carpet in bedrooms, recirculating hot water, water softener and reverse osmosis. Warranties in place for HVAC, Roof, Dishwasher and termite treatment . Hot tub, jetted tub, hood over cooktop is not warranted by Seller. Washer Dryer and TV do not covey with sale.