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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5135 W Alameda Road Glendale, AZ 85310

$1,295,000

5 Beds

3 Baths

3,749 SqFt

Status Active

MLS # 6749254

Property Type Single Family Residence

Price Type --

Bring your toys! Stunning Tri-Level Home in Saddleback Estates on just under an acre with additional 3000sqft Garage & Fully owned 150kwh Solar System providing close to zero energy costs! Inside you will discover 5 bedrooms, 3 baths 2 living areas, formal dining and an extra flex room. Home features tile & wood flooring throughout, granite counters and cherry cabs in the kitchen, & a large master with private balcony equipped with a hot tub. Outside enjoy a covered patio overlooking a beautifully landscaped yard and sparkling pool that also is equipped with heater and chiller. The massive garage/workshop is equipped with A/C, heat, 3-phase electric, and R40 insulation in the walls and R55 in the roof. On top of having tons of character & storage this home is located near golfing, hiking water parks, plenty of dining options at the shops at Norterra and great schools like Sandra Day O'Connor. Only a short drive to both 101 and I-17 freeways. Check out additional upgrades attached in document section.

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11838 N 144th Way Scottsdale, AZ 85259

$1,295,000

3 Beds

2.5 Baths

2,630 SqFt

Status Active Under Contract

MLS # 6702385

Property Type Single Family Residence

Price Type --

Escape to the tranquil beauty of Hidden Hills and discover your dream home nestled within this sought-after community. Perched high on a hillside, this exceptional residence offers unrivaled vistas, showcasing stunning sunsets, the majestic Phoenix valley skyline, and breathtaking mountain views that will undoubtedly captivate you. Enter through your private courtyard, seamlessly extending the outdoor living space and welcoming you into a world of serenity and luxury. Step inside this single-level Golden Heritage Great Room floor plan and be embraced by an inviting atmosphere adorned with Viga ceiling beams, effortlessly marrying comfort with sophistication. The spacious kitchen, a haven for culinary enthusiasts, boasts new Wolf Gas Cooktop and Double Jenn-Air Wall Ovens, providing ample space for culinary exploration, while a cozy Kiva fireplace sets the tone for intimate gatherings in the family room. Indulge in the opulence of the expansive primary suite, featuring a private exit to the rear yard where the beauty of the landscape awaits you each morning. Outside, a resort-style backyard beckons, showcasing a sparkling Pebble Tec pool and spa, embraced by lush landscaping and accent lighting, crafting an oasis of tranquility and relaxation, complete with a fire pit to enjoy during the evenings. A true gem, this home boasts a newly recoated roof (2 year warranty) and all-new pool equipment managed wirelessly, ensuring a move-in ready experience and promising a lifestyle of comfort and luxury. Experience the epitome of Scottsdale living with easy access to amenities such as the Mayo Clinic, Basis School, golf courses, biking trails, and hiking adventures. Whether you seek tranquility or outdoor exploration, this residence offers the perfect balance of opulence and lifestyle.

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4122 E Burnside Trail Cave Creek, AZ 85331

$1,295,000

5 Beds

3.5 Baths

4,580 SqFt

Status Active

MLS # 6761338

Property Type Single Family Residence

Price Type --

Sophistication meets comfort in this beautiful residence. Situated on a sprawling corner lot, this beautiful home offers an unparalleled blend of elegance and functionality. Boasting a fully remodeled chef's kitchen stands with modern style and culinary excellence. Adorned with top-of-the-line appliances, custom cabinetry, and exquisite finishes, it seamlessly transitions into the open living spaces, creating an ideal environment for both everyday living and entertaining. Your spacious fitness room awaits you, a dedicated space designed to elevate your wellness routine. Your gym offers the perfect sanctuary to achieve your fitness goals without leaving the comfort of your home. The outdoor oasis with a resort-style pool and spa will be the focal point for gatherings for years to come!

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8989 N Gainey Center Drive Unit 101 Scottsdale, AZ 85258

$1,295,000

3 Beds

3 Baths

2,113 SqFt

Status Active

MLS # 6753423

Property Type Townhouse

Price Type --

Experience luxury living in this stunning 3-bedroom, 3-bath townhome located in Gainey Ranch, a prestigious guard-gated golf course community. Newly remodeled and situated on a premium corner lot near the pool and spa, this home boasts elegant finishes including hardwood flooring, custom metalwork, and beautiful waterfall quartz countertops. Relax in the Arizona sun on the expansive patio or oversized balcony. The newly renovated Estate Club offers exceptional amenities, including a state-of-the-art fitness center, swimming pool, and courts for tennis and pickleball. Conveniently close to fine dining, shopping, and entertainment in Scottsdale, this townhome is the perfect blend of luxury and lifestyle.

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5112 N 32nd Place Phoenix, AZ 85018

$1,295,000

3 Beds

3 Baths

2,420 SqFt

Status Active

MLS # 6764328

Property Type Single Family Residence

Price Type --

Fabulous opportunity in Biltmore Heights to make this your own! Tucked away on a beautiful street with 10,237 sq ft lot with RARE GUEST HOUSE & FULLY TILED POOL. High vaulted ceilings & kitchen opens to great room. Kitchen features stainless steel counter tops, subzero refrigerator, Viking cooktop, & Bosch dishwasher. Kitchen has a dutch door that opens to the gated courtyard for beautiful weather days. Fabulous outdoor living with large covered patio, cozy fireplace, and built in BBQ area w/ sink. NEW AC unit in 2024. Main home is 2 beds/ 2 baths and guest house is 1 bed/1 bath. Storage shed on the south side of the home.

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3823 Ridge Runner Way Wickenburg, AZ 85390

$1,295,000

3 Beds

3.5 Baths

3,024 SqFt

Status Active Under Contract

MLS # 6747412

Property Type Single Family Residence

Price Type --

This exquisite home, located in Wickenburg Ranch, spans over 3,000 square feet, offering a perfect blend of luxury and comfort. With 3 spacious bedrooms, each featuring its own ensuite bathroom, the home ensures privacy and convenience for all residents and guests. The property is set on a desirable golf course lot, providing stunning views and a serene atmosphere. The backyard is a haven for outdoor enthusiasts, complete with a putting green for golf practice and a large covered patio ideal for entertaining or relaxing in the shade. Inside, the home is adorned with elegant wood-look tile flooring throughout, combining beauty with low-maintenance durability. The highly upgraded kitchen is a focal point, with its granite counters and full backsplash, Monogram and Wolf appliances, beverage refrigerator, and even an extra electric circuit With plenty of counter space and cabinet storage as well as a pantry it is truly a chef's delight. All of the highly upgraded cabinetry has soft-close doors and drawers as well as pull-out shelves. The primary bathroom offers a spa-like experience, featuring a luxurious tub and a separate upgraded shower, split vanities and custom-designed linen cabinet. The 4' extended 3- car insulated garage has epoxy flooring, hanging storage racks, and a mini-split HVAC system along with outside access. The property is set on a large, premium, East-facing desirable golf course lot, providing wrap- around views and stunning sunrises. The backyard is a haven for outdoor enthusiasts, complete with a putting green and chipping area for golf practice, viewing area to take in the fairway and lake views, and a double-extended covered patio ideal for entertaining or relaxing in the shade. The landscaping around the property is beautifully designed, enhancing the home's curb appeal and providing a tranquil environment. This home is a true gem, offering a sophisticated lifestyle in a stunning setting. Additionally, the home includes a full home warranty plan valid until September 2027..

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39101 N 26th Street Cave Creek, AZ 85331

$1,295,000

3 Beds

2.5 Baths

2,862 SqFt

Status Active Under Contract

MLS # 6736724

Property Type Single Family Residence

Price Type --

Exceptionally Energy efficient Home with Huge Resort Retreat backyard & Mountains you can almost touch!! Stunning Integra Energy-Efficient Block Custom home on over 1 acre. Just under 3,000 sq ft. Perfect size for your forever home. Roomy entertainers kitchen with Sub Zero built in refrigerator, GE Convection double ovens & range, Bosch dishwasher, kitchen island, built-in microwave, R/O system, roll-out shelving & large walk in pantry. Eat-in Kitchen breakfast area , Plus a Formal Dining room. First Class all the way professionally designed backyard oasis that Includes PIZZA over and a separate dance floor level. 25 year warranty Rhino paint exterior. RV spot with own 50 Amp hook up. 3 car extended garage with epoxy floor.

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7272 E Gainey Ranch Road Unit 43 Scottsdale, AZ 85258

$1,295,000

2 Beds

3 Baths

1,895 SqFt

Status Active

MLS # 6730003

Property Type Townhouse

Price Type --

Enjoy the Gainey Ranch lifestyle in this updated 2 bedroom plus den condo with 3 full baths. Situated on the Lakes Golf course. Bright end unit with 2 master suites and views of the golf course. Both with large decks to truly enjoy the morning and afternoon sun. Enjoy all the amenities Gainey ranch has to offer. New ''state of the art'' Gainey Ranch Estate club with everything from tennis and pickle ball to a spacious work out facility. Close to shopping at the Gainey Village and walking to the Hyatt Hotel! Gainey Ranch offers an array of amenities, including tennis, pickleball, a fitness center, community pool and optional membership to the Gainey Ranch Golf Club. Enjoy top-tier shopping, dining, and entertainment just minutes from your doorstep.

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3909 S Veronica Lane Gold Canyon, AZ 85118

Open House

$1,295,000

4 Beds

3 Baths

2,989 SqFt

Status Active

MLS # 6769878

Property Type Single Family Residence

Price Type --

Welcome to Montana Dorada, the best kept secret in Gold Canyon Arizona. This single level home is part of an exclusive Modern Farm Desert Collection. Offering paved roads, quick access to the US 60, close to shopping and dining, complete with breathtaking views of the iconic Superstition Mountains at every turn. Offering 2989 livable SF, 4 bedrooms, 3 bathrooms, a large kitchen island, wine bar, and a butler's pantry. This split floorplan offers a large owners suite and guest ensuite both with private access to the large covered backyard patio. All tile throughout with light earthy tones to compliment every style. The developers are offering a 25,000 credit for rate buy down and custom owners closet build out. This new build comes with an oversized 3 car garage complete with epoxy floor. Carefully positioned to offer both privacy and optimized views of the mountains. Montana Dorada in Gold Canyon Arizona offers peaceful living with amazing access to city amenities. If you are looking for golfing, hiking, biking, and sensational outdoor adventure while still being close to modern amenities this beautiful single level new build in Montana Dorada is a must see.

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3014 E Winchcomb Drive Phoenix, AZ 85032

$1,294,900

4 Beds

3 Baths

3,272 SqFt

Status Active

MLS # 6742731

Property Type Single Family Residence

Price Type --

A rare opportunity in the Cimarron Manor community. this beautifully appointed custom home with No HOA on over a 1/4 acre lot, and close to Scottsdale, 51 & 101 Freeways, Camelback Corridor, Downtown Phoenix, Central Corridor, and minutes to the airport. 4 bedroom 3 bath home. In 2022 replaced roof, solar panel system, remodeled pool, pool heater, repainted, new flooring, putting green, exterior paint., and LG Fridge. There is an 80 gallon water heater, soft water & filtration system. In primary bedroom, there is a gorgeous walk in closet, Steam Shower, and Toto Toilet. Full wet Bar. Backyard and a sizeable grassy lawn, and does the front yard. Plenty of space to entertain both inside and out. You do not want to miss this one. Can sell as fully furnished as well.

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3756 E Galvin Street Cave Creek, AZ 85331

$1,294,000

3 Beds

3 Baths

3,861 SqFt

Status Active

MLS # 6673322

Property Type Single Family Residence

Price Type --

Magnificent mountain views, high ceilings and tasteful finishes greet you upon entering this meticulously maintained and very spacious home with north/south exposure, new interior and exterior paint and a fabulous backyard. Enjoy privacy and gorgeous sunsets. Approach from a circular drive, then through a formal entry that invites you into a large comfortable great room with gas fireplace and access to the backyard. The dining area is open to the large kitchen with its cherry cabinets, granite countertops, gas cooktop and island. Relax in your master suite (20x20), large bathroom & huge closet. The office is perfect for a work from home lifestyle and has custom dual desk cabinetry. See the big bonus room for workouts, TV, toys, billiards, and the laundry room has loads of storage. The resort like backyard with travertine pavers boasts beautiful mountain views, play pool with water feature, built-in gas BBQ, gas firepit and new artificial grass! Owned Solar is the icing on the cake!

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27722 E Mount Ord Drive Fort Mcdowell, AZ 85264

$1,290,000

3 Beds

2.5 Baths

3,083 SqFt

Status Active

MLS # 6707788

Property Type Single Family Residence

Price Type --

Welcome to this stunning southwestern home in Sunflower, AZ, offering the perfect blend of comfort & luxury. Nestled in a private gated community, this property boasts breathtaking mountain views and enjoys the great climate of Sunflower. This home features 3 bedrooms, 2.5 bathrooms, a bonus room, providing ample space for relaxation. The open-concept living area is perfect for hosting gatherings, while the wellappointed kitchen, complete with modern appliances and a spacious island. Two additional improved lots are available. Outside the property spans 1.82 acres. Solar Electrical System, Community well, whole home off grid.

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