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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7000 N 39th Place
Paradise Valley, AZ 85253
$6,150,000
3
Beds
4
Baths
6,021
SqFt
Status
Active
MLS #
6773455
Property Type
Single Family Residence
Price Type
--
Presenting a stunning architectural masterpiece situated on over 2.5 acres within the exclusive 24/7 guard-gated community of Paradise Reserve. Crafted by Cullum Homes, this two-story contemporary estate offers a luxurious retreat with unmatched views of the majestic Camelback Mountain from every vantage point, creating a tranquil and picturesque setting. Elevated on a hill, the property features a grand driveway leading to a custom 3-car garage with sleek glass doors. Upon entering through the custom glass door, you're welcomed by a beautifully designed great room that seamlessly connects indoor and outdoor living spaces. At the heart of the great room is a designer fireplace that radiates warmth and elegance, while a retractable sliding glass door opens up to breathtaking mountain views. A nearby wet bar with exquisite pendant lighting, a wine fridge, and a custom glass-enclosed wine rack adds sophistication, showcasing your collection in style. The gourmet kitchen is a dream for any culinary enthusiast, equipped with premium Wolf and Sub-Zero appliances, sleek off-white cabinetry, quartz countertops, dual sinks, dual ovens, and a 6-burner gas range. A built-in espresso machine is ready to enhance your mornings, and the adjacent butler's pantry offers ample storage with extra cabinetry and a second refrigerator. Ascend the elegantly designed glass and wood staircase to a captivating loft, featuring an additional wet bar and a built-in entertainment centerperfect for unwinding and relaxation. The master suite combines luxury and serenity, complete with a dual-sided fireplace, sliding doors to a private patio, and endless views. The spa-like master bath features floating vanities, a spacious glass-enclosed shower with rain and handheld showerheads, and a soaking tub set by the fireplace. Multiple windows and a door to the outside provide additional mountain views, creating a tranquil ambiance. A den and office, enclosed by elegant glass doors, offer a peaceful work-from-home space. The additional bedrooms each feature ensuite baths for comfort and privacy. Throughout the home, recessed lighting and surround sound enhance the living experience. Outside, you'll find an enchanting space designed for relaxation and entertainment. The covered patio is perfect for outdoor dining, complete with an outdoor kitchen that includes a built-in BBQ, refrigerators, dishwasher, wall oven, sink, and an island with bar seating. Beyond the patio, a travertine-tiled deck leads to a captivating infinity-edge pool, where the water seems to blend into the sky. The raised spa, featuring one of two outdoor gas firepits, adds warmth and ambiance, all set against the stunning backdrop of Camelback Mountain and city lights.This home is a true masterpiece where luxury and nature unite to offer an unmatched living experience.
5636 E Via Buena Vista
Paradise Valley, AZ 85253
$6,000,000
5
Beds
6.5
Baths
6,872
SqFt
Status
Active
MLS #
6749255
Property Type
Single Family Residence
Price Type
--
Santa Barbara transitional home with exquisite mountain views. Sitting on over a 2 acre lot, this estate is the ultimate indoor/outdoor Arizona living with sliders that open to a covered patio, ramada with outdoor kitchen, fireplace, and rooftop deck, mature landscaping, tennis court, and custom pool/spa. Open great room with new white Italian travertine stone floors, formal dining, living room, and remodeled kitchen with Carrara marble counters, high end appliances, and new lighting, backsplash, tile, and surround sound speakers. Primary suite with gas fireplace, private backyard access, and oversized bathroom with freestanding tub, large dual vanities, walk-in shower, and custom closet. Additional rooms include office, gym with surround sound, mirror wall, and mini fridge and casita with new quartz kitchenette and custom cabinets, shower, tile, plumbing, and lighting. Smart home security to control cameras, music, shades, TV, HVAC, pool, and landscaping. Located only minutes away Paradise Valley's world class resorts, dining, and shopping.
9330 E Brahma Road
Scottsdale, AZ 85262
$6,000,000
5
Beds
5.5
Baths
6,018
SqFt
Status
Active
MLS #
6768931
Property Type
Single Family Residence
Price Type
--
LUXURY MEETS TRANQUILITY ~ Absolutely stunning and meticulously designed, this magnificent home is situated on a hill top 11 acre homesite in the EXCLUSIVE guard gated community of CAREFREE RANCH. Elevated above the valley floor, this home offers top-of-the-world panoramic views that arc from the Mazatzal / Four Peaks Mountains in the east all the way to the Sierra Estrella's and The White Tank Mountains in the far west valley. This home boasts captivating vistas of several Desert Mountain Golf courses, lush Sonoran Desert, blazing sunsets, sparkling city lights and starry dark skies. Timeless contemporary Southwest architecture with extensive use of copper cladding and angled roof lines create visual drama upon arrival. As you enter the home you are met with an updated soft contemp- contemporary flair and ideal floor plan for todays buyers with Master bedroom with spa like master bath, dual closets and fitness area, along with an office or additional guest suite on one wing. The other side of the home features two additional ensuite bedrooms, plus a standalone two room casita with kitchenette for longer guest visits. The heart of the home is the chef kitchen with Wolf/Subzero appliances, wine fridge, wet bar, breakfast nook and family room for every day use and casual entertaining. Separate full dining room & formal living for larger or more formal entertaining needs. Your outdoor desert oasis awaits with oversized patio with alfresco dining and living space, outdoor kitchen, and spectacular negative edge pool for hours of outdoor entertainment. This residence is not just a home; it's a lifestyle, a property to be appreciated and enjoyed all day, every day. Welcome to a lifestyle of luxury and tranquility!
7130 N 69th Place
Paradise Valley, AZ 85253
$6,000,000
5
Beds
7.5
Baths
8,140
SqFt
Status
Active
MLS #
6751399
Property Type
Single Family Residence
Price Type
--
Gorgeous Craftsman style house located in the HEART of Paradise Valley on over acre lot w/ mountain views!. Main House features: 7,198 sq ft with 4 bedrooms+Office+Theater+Craft Rm+Flex Rm+Bonus Rm & 6.5 baths. Guest House features: 942 sq. ft with 1 bdrm,1 bath & full kitchen & laundry. Throughout property: Block Construction, Gorgeous Wainscoting, all Ensuite Baths, Custom Tile, Soaring Ceilings, 4 Gas Fireplaces, Tons of Glass Overlooking Huge Backyard that was made for entertaining. Situated on 1.2 acres w/ Lap Pool, Full Sports Court, Ramada w/ Fireplace, Tons of Grass Area, View Deck w/ Incredible Views of Mummy Mtn & 5 Car Garage! Never been on the market before this property is preppy with coastal sophistication. Located within minutes from all the best shopping & dining!
4845 E Caida Del Sol Drive
Paradise Valley, AZ 85253
$5,999,999
5
Beds
5.5
Baths
5,863
SqFt
Status
Active
MLS #
6781753
Property Type
Single Family Residence
Price Type
--
Indulge in the pinnacle of luxury and relish breathtaking elevated mountain views in the heart of Paradise Valley in this remarkable Emerald Level, Certified Green Home (the most stringent certification and highest achievement in sustainable building) with owned solar panels. This soft contemporary custom home blends sustainability with elegance, offering 5 bedrooms, 5.5 baths, and a 4-car garage. A designer glass door welcomes you at the entry, leading to an open floor plan with soaring ceilings and wall-to-wall engineered oak wood floors and an elegant fireplace. The gourmet kitchen is a chef's dream, featuring quartz countertops, a Wolf stainless steel gas range, microwave, and an oversized center island with quartzite, adorned with overhead designer pendant lighting and eat-up bar. seating. The dining room with large windows adds an element of sophistication, while the powder room boasts a designer wood counter and vessel sink. Split dual primary suites and luxurious spa-like baths elevate this home to an unparalleled level of luxury and comfort. Step into the backyard oasis to discover a resort-style heated pool and spa, a ramada with a grill, a brick fire pit, a spacious covered patio, and captivating city light and mountain views. Additionally, this home includes a spectacular guest casita overlooking the backyard paradise, complete with a kitchen, living area, and a guest suite. Enjoy the gorgeous outdoor dining area with travertine surround, creating an inviting atmosphere for entertaining or relaxation. This residence is a must-see for those who appreciate designer elegance and luxurious amenities that redefine opulence and cater to the most discerning tastes.
6620 E Stallion Road
Paradise Valley, AZ 85253
$5,999,945
4
Beds
5
Baths
6,687
SqFt
Status
Active
MLS #
6770878
Property Type
Single Family Residence
Price Type
--
Welcome to Paradise! Spanish Estate, with a dramatic setting of the Mummy Mountains, truly shows pride of ownership! This beauty sits on a large corner lot, showcasing a beautiful backyard oasis with two gazebos, a circular driveway, fountains, a paver porch with an outdoor fireplace, and a gated entryway. Sheer beauty & breathtaking detail are found throughout, with 20 feet soaring ceilings, hardwood and travertine stone floors, 4 indoor Cantera fireplaces, a sizable office, a 600-bottle wine room, and multiple outdoor access points connecting the home inside & out. The spacious living room provides a serene area for receiving short visits, while the large dining room allows you to host a feast on special occasions. A true masterpiece with European old-world charm in PV! Bathed in natural light, this magazine-cover kitchen features a plethora of wood cabinets, travertine backsplash, granite counters, state-of-the-art SS appliances, a 6-burner gas cooktop, a built-in fridge cabinet, a center island, and an outer two-tier island. The owner's suite boasts a sitting room, a fireplace, and French doors to different patios. The lavish ensuite has travertine tile throughout, a jetted tub, two Cantera vanities, an oversized step-in shower with a built-in bench, and a massive walk-in closet. Each bedroom has its own bathroom. Cozy courtyard with artificial turf & a canter fountain is perfect for relaxing. The stunning resort-like backyard offers abundant seating areas, a built-in grill, a pergola, a ramada, a gazebo, a pool, and a spa. Enjoy entertaining or relaxing in solitude! Words don't make this gem justice. Over 6,000 sqft of luxury awaits, don't miss this gem in Paradise Valley!
8386 E Leaning Rock Road
Scottsdale, AZ 85266
$5,999,099
4
Beds
5.5
Baths
5,673
SqFt
Status
Active
MLS #
6772642
Property Type
Single Family Residence
Price Type
--
*Estimated completion January of 2025* Move in just in time for the winter season to this exclusive, custom-designed version of Camelot's award-winning Cheval floorplan, brought to life by Camelot's Custom division, Cameron Custom. Renowned for its seamless indoor-outdoor living spaces, this stunning residence offers 4 spacious bedrooms, 5.5 luxurious baths, a private den, a versatile bonus room, and a separate casita for guests or multi-generational living. Every detail of the home's interior has been meticulously curated by a team of elite designers, blending sophisticated neutral tones with high-end finishes that cater to even the most discerning buyers. Whether you're hosting intimate gatherings or enjoying serene moments, this home exemplifies resort-style living at its finest.
E Red Bird Road
Scottsdale, AZ 85262
$5,999,000
4
Beds
4
Baths
4,322
SqFt
Status
Active
MLS #
6774532
Property Type
Single Family Residence
Price Type
--
Car enthusiasts delight - revel in this estate's custom garages for 10+ vehicles. This to-be-built masterpiece from J.Cor Architecture and Platinum Companies Inc provides 5 acres at your helm, with unobstructed views of Pinnacle Peak and McDowell Mountains. City Light views to the South and Southwest. Your inquiry to this iconic estate is welcomed.
7014 E Palo Verde Lane
Paradise Valley, AZ 85253
$5,999,000
5
Beds
4
Baths
6,046
SqFt
Status
Active
MLS #
6762390
Property Type
Single Family Residence
Price Type
--
Welcome to 7014 E Palo Verde Ln! This exceptional property is located in the heart of Paradise Valley - a picturesque town known for its beauty, tranquility, and relaxed lifestyle. The single-story property has been renovated and offers over 6,046 sqft of inspired living space on .855 acres of land. The charming modern ranch-style home is adorned with exterior brick, black board and batten accents, black aluminum double-pane windows, Italian hand-chipped marble tile pavers, outdoor fireplace, and fire pit surrounding a polished pebble tech black bottom pool, as well as a cedar shake-covered porch. Inside, you'll find European white oak flooring, quartz counters, a double kitchen island with double sinks, Miele appliances including two dishwashers, a wine fridge, and a 48in gas stove with a custom shiplap hood, a dry and wet bar, primary bedroom with its own private spa, flex room,and gorgeous accent walls throughout the home that bring the sleek, moody feel together. Enjoy your private oasis with views of the mountains and a backyard big enough to entertain a large crowd. *Court Approval for Sale Req'd*
6587 N Palmeraie Boulevard Unit 1043
Paradise Valley, AZ 85253
$5,999,000
3
Beds
3.5
Baths
3,191
SqFt
Status
Active
MLS #
6722692
Property Type
Apartment
Price Type
--
Welcome to the Ritz-Carlton lifestyle, where luxury and comfort merge seamlessly. This exquisite garden-level unit, with an extended patio, offers the perfect blend of indoor and outdoor living. Centrally located yet incredibly private, you'll have easy access to the pool, fitness center, and clubhouse, making every day feel like a retreat. Inside, you'll find custom millwork and high-end finishes throughout, from bespoke tile and countertops to exquisite flooring and wall coverings. The den is a wine lover's dream, featuring tailored millwork, Sub-Zero wine storage columns, and ample barware space. State-of-the-art technology enhances your living experience with Crestron lighting control, motorized privacy and blackout shades, house music system and in ceiling speakers throughout. The interior flooring and patio are adorned with elegant Galician Blue Limestone, while the bedrooms feature warm European white oak. Luxurious touches continue in the bathrooms with beautiful marble, wood and porcelain finishes. This villa is more than just a home; it's a lifestyle defined by elegance and convenience. Welcome to your new sanctuary.
36931 N 102nd Place
Scottsdale, AZ 85262
$5,995,000
5
Beds
5.5
Baths
6,482
SqFt
Status
Active
MLS #
6772845
Property Type
Single Family Residence
Price Type
--
For the finest Lineage custom built home on a spectacular Mirabel golf course lot look no further. The open transitional floorplan showcases walls of retractable doors and expansive patios for Arizona indoor/outdoor living at its finest. The resort style backyard offers stunning views of the 10th fairway/green w/ the gorgeous McDowell Mountains as a backdrop and includes a pool, spa, firepit, outdoor kitchen/dining, cantina bar access, & covered seating area w/fireplace. The driveway leads to a generous motor court & two oversized 2 car garages, both offering ample storage. Step from the elegant entryway into the spacious great room featuring a modern stone fireplace, vaulted ceiling, & a 20 ft. retractable window wall that opens to the patio. The luxurious kitchen features Subzero/Wolf appliances, 2 dishwashers, oversized island, stone countertops, and extra-large walk-in pantry w/ additional refrigerator & custom shelving. The butler's pantry has private pass-through door to the formal dining room that boasts a sophisticated glass wall wine room, custom built-ins & French doors that open to the front courtyard. The informal dining area opens to the outdoor kitchen/dining area and is adjacent to the cantina wet bar with fold away windows on 2 sides, perfect for indoor/outdoor entertaining. The master suite has a wall of glass that opens to a private patio & features a stone fireplace, coffee bar w/ mini fridge, & a huge walk-in closet w/ custom built-in cabinets & island plus a full-size washer & dryer. Adjacent to the master is an office/bedroom with private balcony. There are 2 additional guest suites split from master, one is currently being used as a theater. Guests will enjoy their own private oasis in a separate Casita with living room, kitchenette w/breakfast bar, bedroom and bathroom.
9010 E Northview Lane
Carefree, AZ 85377
$5,995,000
4
Beds
4.5
Baths
6,900
SqFt
Status
Active
MLS #
6574997
Property Type
Single Family Residence
Price Type
--
Step into the grandeur of Casa CarBella, where automotive elegance meets luxury living. This architecturally significant residence, to be built by State 48 Contracting, offers a harmonious blend of world-class luxury complete with a 6 car garage and spectacular RV/Toy Barn with side and front entry. 3,840 SF of garages, with the height to accommodate two lifts per bay, providing the best aspects of storage and display for your prized collection. Situated on a sprawling 2.2-acre lot, with breathtaking views of the Seven golf course and Continental Mountains, this magnificent home provides the ultimate backdrop for living and entertaining. The indoor-outdoor living experience is effortless with vast glass doors that lead to the beautifully designed outdoor space. The outdoor living areas are impressive, with multiple gathering spaces, a stunning swimming pool, spa, Kitchen/BBQ. The great room design features a chef's kitchen with informal and formal dining room, a glass wine cellar, office, and a spa-like primary suite. All located on the main level with no steps. On the upper floor, three ensuite guest bedrooms and a family room/game room offer the perfect escape for your guests, with stunning views. This home is the epitome of luxury and style, offering a showpiece living space. Experience the ultimate in living and entertaining at Casa CarBella. Please note that all renderings are subject to change. Home is to be built and does not include furnishings. Pricing is pre-construction and is subject to change. 6500 Square Feet Home 3,840 Square Feet Garage 10,125 SF Total Under Roof Looking for more auto/toy space, get details for expanded floor plan and 20 car garage. Reach out to walk the lot or to see floor plans.