NAHB: Builder Sentiment Improves in August

According 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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2968 E Latham Way Gilbert, AZ 85297

$1,590,000

4 Beds

3.5 Baths

4,298 SqFt

Status Active Under Contract

MLS # 6775138

Property Type Single Family Residence

Price Type --

Prepare to be amazed! Check out this luxurious 4 bed, 3.5 bath residence now for sale in Weston Ranch! A stunning facade w/stone accents, a manicured landscape w/lush natural turf, a 3 car side garage w/extended driveway, an RV gate, and a paver courtyard are just the beginning. Come inside to discover a circular foyer, which flows seamlessly into a spacious great room w/a fireplace to keep you warm during the coming winter months. Notice the stylish tray ceilings in key areas and trending palette throughout! You'll also find a formal dining room boasting elegant wood-look tile flooring perfect for hosting a dinner party. The fabulous kitchen is equipped w/everything the aspiring chef needs, wood cabinetry w/crown moulding, a pantry, granite counters & backsplash... ...stainless steel appliances including dual wall ovens & wine coolers, pendant lighting, a prep island, a charming breakfast bar, and breakfast nook. End your busy day in the primary bedroom, showcasing plush carpet, private outdoor access, dual walk-in closets, and a lavish ensuite w/dual vanities. Double doors open up to a cozy den, ideal for an office or reading nook. Don't forget about the sizeable bonus room, featuring plantation shutters, classic French doors, and an entertainment niche! Lastly, the expansive backyard includes a covered patio, extended seating areas, a fire pit, a lovely gazebo w/a built-in BBQ, and a refreshing pool w/a rock waterfall! This is the opportunity of a lifetime, don't let it get away!

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1825 E Adams Street Phoenix, AZ 85034

$1,590,000

5 Beds

5.5 Baths

4,791 SqFt

Status Active

MLS # 6626952

Property Type Single Family Residence

Price Type --

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23032 N 38th Place Phoenix, AZ 85050

$1,590,000

6 Beds

4.5 Baths

4,599 SqFt

Status Active Under Contract

MLS # 6727040

Property Type Single Family Residence

Price Type --

One of the largest lots in the coveted Aviano community, this updated north/south facing six-bedroom home with office and fully finished basement is located minutes from shopping and schools. This home is perfect for work-from-home families who want lots of space to spread out. Large backyard oasis includes BBQ area, Pebble-tech pool, hot-tub and gas fireplace. Plenty of lush landscaping and grass on both sides gives this over-sized lot a large, open, feeling and backs up to a designated open area with beautiful sunset views. With no neighbors directly behind you plus an 8' backyard wall will ensure plenty of privacy while poolside and entertaining. Master bedroom and bath have been remodeled and showcase a lit stonewall, walk-in shower with porcelain tile throughout. The chef's kitchen is a masterpiece with warm cabinetry, exquisite granite countertops, high-end appliances, and an oversized island made for entertaining. With AC units only 3 years old, your summers will be refreshingly cool in this opulent sanctuary.

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5009 E Gelding Drive Scottsdale, AZ 85254

$1,590,000

5 Beds

3 Baths

3,000 SqFt

Status Active Under Contract

MLS # 6754158

Property Type Single Family Residence

Price Type --

Spectacular 5 bedroom, 3 bathroom, 17' high cathedral ceiling Remodel in a cult-a-sac close to everything. Almost a half acre lot. Huge Master Shower and Closet with separate washer and dryer hookup in Mst Closet. Entertainers Delight! Seller is offering a credit for you to design and build your own cabinets in closet$$$ NO HOA:-) With this property, you can either have a pickle ball court in the back yard or a fully approved 1200 sqft 2 bedroom, 2 bathroom guest house with permit ready to build. Approved plans for guest house. This property would be amazing with 7 bedrooms, 5 bathrooms, 4 car garage

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700 N Dobson Road Unit 22 Chandler, AZ 85224

$1,590,000

6 Beds

4.5 Baths

5,200 SqFt

Status Active Under Contract

MLS # 6738230

Property Type Single Family Residence

Price Type --

Experience unparalleled luxury in this 5,200 sq ft custom home, located in the exclusive La Glorieta community on just under ½ an acre. This residence features 6 bedrooms, 4¼ baths, and a versatile den/office. The property makes a striking impression with its extended driveway and spacious 3-car garage. Inside, you'll find Saltillo flooring, high ceilings with exposed beams, and abundant natural light, creating a welcoming and sophisticated atmosphere. Also a formal dining room and cozy family room with a fireplace. The chef's kitchen is a culinary delight, showcasing rich wood cabinets, granite countertops, stainless steel appliances, recessed lighting, a built-in desk, double wall ovens, a pantry, a center island, and a breakfast bar. This home is the essence of AZ luxury living! Double doors open to the main retreat, comprised of soft carpet throughout, private outdoor access, a convenient sitting area, a walk-in closet, & an enchanting bathroom with dual vanities. The amazing backyard is an entertainer's dream, including a pergola-style covered patio, manicured landscape, built-in BBQ, & a sparkling swimming pool with a stone waterfall & a slide! This gem is TRULY a remarkable place to call HOME!! Don't miss out!

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3011 Avienda Del Sol -- Lake Havasu City, AZ 86406

$1,590,000

4 Beds

3 Baths

2,418 SqFt

Status Active

MLS # 6747825

Property Type Single Family Residence

Price Type --

Experience luxury living in Lake Havasu City with this exquisite home offering stunning lake and mountain views. The residence boasts vaulted ceilings, enhancing its open and airy ambiance. Enjoy a tranquil backyard oasis featuring a sparkling pool and fire pit—perfect for relaxation and entertaining. A charming casita with a kitchenette adds convenience and flexibility for guests. The property also includes a 65-foot deep RV garage with a 14-foot door, ideal for storing large vehicles. Embrace the ultimate in lakeside living with this exceptional home.

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32541 N Thompson Road Queen Creek, AZ 85142

Open House

$1,590,000

4 Beds

3.5 Baths

3,284 SqFt

Status Active

MLS # 6750283

Property Type Single Family Residence

Price Type --

WOW - Fully custom, newly-built, and never lived in luxury home with a 6.500 square foot garage with 16-foot ceilings & 14-foot tall steel garage doors! No HOA! Over 3,200 square feet of living space with an open floor plan & huge entertainer's kitchen! Around 10,000 sqft of under-roof space! 16-foot wide powered glass door in the living room with an electric fireplace & vaulted ceilings! 42-inch custom solid wood cabinets with quartz counters, 5-burner cooktop, & a 14-foot wide island! Extra-large walk-in panty, and over-sized laundry room w additional storage. Primary suite has separate exit, walk-in tile rain shower, and an absolutely huge primary closet. 3 other bedrooms, plus a den/office/flex room! Garage has 200-amp sub panel & spray-foam insulation as well! Hiking trails nearby!

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2502 N 85th Street Mesa, AZ 85207

Open House

$1,590,000

4 Beds

3 Baths

3,299 SqFt

Status Active

MLS # 6733761

Property Type Single Family Residence

Price Type --

Stunning new Farmhouse architectural custom home. 3299 sf livable with designer interior finishes including oak floors in livable areas and master bath. Custom cabinetry, white quartz counters with extensive use of visual comfort light fixtures and high end finishes. Automated swimming pool with spa and baja shelf and in water lounge chairs. This home is a must see in the high desert and includes a fenced desert landscaped yard with synthetic grass in front and back. Room for RV parking or future RV Garage.

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14102 E Highland Avenue Fountain Hills, AZ 85268

$1,589,995

4 Beds

4.5 Baths

2,978 SqFt

Status Active

MLS # 6717196

Property Type Single Family Residence

Price Type --

Move in early 2025! Designer appointed Thaxton Modern offers room for family and guests. A nice front courtyard offers privacy for the attached casita making great outdoor space and inviting entry to the home. This home features additional bonus room and separate office. Open concept kitchen, casual dining and great room with fireplace opens to covered patio and spacious backyard for entertaining. Kitchen boasts Wolf appliances including 36'' cooktop, double ovens and built in 48'' Sub-Zero side by side refrigerator! Primary suite with luxurious bath with separate soaking tub, walk-in shower and two walk-in closets. Final opportunity for this amazing floorplan!

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10887 E Peak View Road Scottsdale, AZ 85262

$1,589,000

3 Beds

3 Baths

3,284 SqFt

Status Active

MLS # 6751836

Property Type Single Family Residence

Price Type --

Beautiful Custom Build in Highly Desirable Guard Gated Community of Candlewood Estates at Troon North. Walking distance to Brown Ranch Trail. Enjoy Breathtaking Views of the Mountains and Watch the Sunset Over the Sonoran Desert. The House is Nestled on a Corner Lot of a Cul-De-Sac Surrounded by Protected Land Giving You Privacy. Recently Renovated; Wood Floors, Custom Built Cabinets, Pella Doors, Custom Power Blinds, Primary Bath, and SubZero/Wolf Appliances. A Resort Style Backyard and Pool. Pool Equipment, Outdoor Kitchen Equipped with Twin Eagles BBQ, Teppanyaki Grill, and Power Super Burner in June 2022. No Expense Spared on Upgrades. Water Features and a River Flowing Into the Pool to Complete Your Own Private Resort. Don't Miss This Perfect Opportunity to Have Your Own Oasis.

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6701 E Redfield Road Scottsdale, AZ 85254

$1,585,000

4 Beds

3 Baths

3,388 SqFt

Status Active

MLS # 6774725

Property Type Single Family Residence

Price Type --

Discover unparalleled luxury in this stunning 4-bedroom, 3-bath residence, perfectly situated on a sprawling over ½-acre corner lot with no HOA. Boasting 3,828 sq. ft. of refined living space, included an additional 440 sq. ft. bonus room (not reflected on tax records), this home is designed for both grand entertaining and serene relaxation. The recently remodeled gourmet kitchen flows effortlessly into a vast living area, complete with a custom wet bar and an impressive, statement fireplace. This space is ideal for hosting elegant gatherings or cozy evenings at home. The expansive master suite offers a tranquil retreat, featuring a private sitting area, a second fireplace, and spa-like en-suite. Every bathroom in the home has been luxuriously renovated, exuding sophistication and and modern elegance. Step into your own private resort-style backyard, where lush greenery and expertly designed pavers surround a sparkling Pebble Tec pool. The large, covered gazebo, equipped with a built-in TV, is perfect for outdoor lounging and entertaining in style. Additional features include a redesigned walk-in laundry room, a grand iron front entry door, beautifully paved front walkway, engineered wood flooring throughout, skylights, and a dedicated storage unit. Just minutes away from the finest shopping and dining at Kierland and Scottsdale Quarter, this residence offers an exceptional blend of luxury and convenience. Please note: The bonus room was added without city permits and is not reflected on tax records.

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5362 S San Sebastian Place Chandler, AZ 85249

$1,585,000

4 Beds

3.5 Baths

4,320 SqFt

Status Active

MLS # 6771317

Property Type Single Family Residence

Price Type --

Welcome to this stunning single-level TW Lewis home in the prestigious gated community of Valencia - San Sebastian. Spanning over 4000 sq ft, this elegant home offers 4 bedrooms plus den,3.5 bathrooms, and soaring 12 ft ceilings. Situated on a spacious 20,000+ sq ft lot adjacent to a vast neighborhood park, the home features a gated courtyard with a gas fireplace. The open kitchen boasts a Wolf stove/oven, pot filler, walk-in pantry, granite countertops, and a wine area. Interior highlights include wood shutters, travertine flooring, surround sound, high-end lighting, and motorized blinds. The luxurious master suite offers two walk-in closets and a grand walk-through shower. The backyard oasis includes a pool, spa, fire pit, and a spacious grassy area. Located near restaurants, shopping,

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