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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24892 N 107th Street Scottsdale, AZ 85255

Open House

$4,987,000

4 Beds

4.5 Baths

4,502 SqFt

Status Active

MLS # 6745561

Property Type Single Family Residence

Price Type --

Luxury Custom New Construction, Move-in-Ready! Welcome to the Artesano Custom Estate, an exquisite masterpiece of architectural design and luxurious living. This home sets the standard for elegance and sophistication. Nestled in the prestigious neighborhood of Artesano at Troon Canyon, this property offers unparalleled craftsmanship and attention to detail, creating an extraordinary living experience for the most discerning homeowner. Featured in Architectural Digest, Landmark Luxury Group, a distinguished Chicago & Scottsdale-based build, architectural, and design firm, bring experience, design range, and excellence for the things both seen and unseen in new construction. This luxury home also boasts state-of-the-art smart home technology, Sub-Zero and Wolf appliances

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5676 E Cheney Drive Paradise Valley, AZ 85253

Open House

$4,979,000

5 Beds

5.5 Baths

5,950 SqFt

Status Active

MLS # 6743011

Property Type Single Family Residence

Price Type --

Looking to trade up for views? Discover unparalleled luxury here in this distinguished Paradise Valley estate, masterfully crafted by Salcito Custom Homes. Soaring above Paradise Valley in the exclusive, guard gated community of La Place du Sommet, this 5,950 sq. ft. masterpiece offers breathtaking panoramic views from Mummy Mountain, with vistas of the McDowells, Superstition Mountains, and glittering city lights below. The residence features five opulent bedrooms, a mahogany library, a theater, and a gourmet kitchen w/ Viking and Subzero appliances. Seamlessly integrated into the hillside, the home boasts multiple terraces, an infinity spool, and dramatic indoor-outdoor living spaces, epitomizing refined elegance and elevated living.

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10162 E Sundance Trl 227 --, Scottsdale

$4,975,000

5 Beds

5.5 Baths

5,830 SqFt

Status Active

MLS # 6653002

Property Type Single Family Residence

Price Type --

This Brand New Home Exudes Elevated Elegance & Craftmanship in the Village of Sunrise on the 3rd hole of the Renegade course, offering panoramic mountain views, sunset views, city lights and golf course views. Quiet interior location on 1 acre. Cart path for this hole is located on the other side of the fairway offering additional privacy. A perfect mixture of traditional architecture with contemporary finishes. 4 car garages, large covered view deck, large entry courtyard, custom ceiling treatments t\o, spacious primary bedroom, w/luxurious bath & expansive primary closet. High end gourmet kitchen made for entertaining, wine room. Golf Membership is not included with purchase of home.

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6841 N 58th Place Paradise Valley, AZ 85253

$4,975,000

4 Beds

3 Baths

4,786 SqFt

Status Active

MLS # 6758290

Property Type Single Family Residence

Price Type --

This breathtaking 1.26-acre, NON-HILLSIDE LOT in Paradise Valley is located on the south slope of Mummy Mountain, offering panoramic views of Camelback Mountain, Mummy Mountain, downtown Phoenix, and the East Valley including Four Peaks. The existing 4,759 sq. ft. contemporary home features 4 bedrooms and 3 bathrooms, with potential for expansion to include a car collector's garage or guest quarters.

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5000 N Camelback Ridge Road Unit 109 Scottsdale, AZ 85251

$4,950,000

3 Beds

3.5 Baths

3,867 SqFt

Status Active

MLS # 6659586

Property Type Apartment

Price Type --

You do not need to wait two years! This is a rare opportunity to own a first floor (walk out patio) home in Ascent at the Phoenician and BE IN BY FALL OF 2024! Unit 109 offers a generous 3867 square foot open concept floor plan with numerous upgrades, including Bulthaup Kitchen and Smart Home technology. Three bedrooms, four bathrooms and corner, very private location.

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10308 E Filaree Lane Scottsdale, AZ 85262

$4,950,000

4 Beds

4.5 Baths

5,235 SqFt

Status Active

MLS # 6723851

Property Type Single Family Residence

Price Type --

FULL Golf Membership available. Nestled on a serene private cul-de-sac, this brand new Black Stone / Graffin Design home epitomizes modern luxury and timeless elegance. Spanning 4,735 square feet, this residence features 4 bedrooms + office and 4 ½ bathrooms, meticulously crafted with attention to detail. The design offers a seamless blend of architectural sophistication and contemporary comfort. The open floor plan showcases a gourmet kitchen equipped with top-of-the-line appliances, quartz countertops, a scullery room and custom cabinetry, making it a dream for culinary enthusiasts and perfect for entertaining. Expansive living spaces boast high ceilings, abundant natural light, and a cozy fireplace, creating an inviting and warm atmosphere. The primary suite serves as a tranquil retreat, complete with a spa-like ensuite bathroom, while additional bedrooms provide comfort and privacy for family and guests. Outside, the landscaped grounds offer a private oasis featuring a covered patio, ideal for outdoor dining and enjoying incredible sunset views. Available with this property also includes a FULL golf membership upon membership approval with DMMA. An exclusive opportunity awaits the new buyer to enjoy the comfort of a newly remodeled 3-bedroom home situated just one mile away. During the construction of their new home, they will have the privilege of residing in this home rent-free. Additionally, the property is available without the golf membership, offering flexibility to suit your lifestyle preferences.

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6045 E Cholla Lane Paradise Valley, AZ 85253

$4,950,000

5 Beds

3 Baths

3,402 SqFt

Status Active

MLS # 6759835

Property Type Single Family Residence

Price Type --

This Mid-Century Modern is truly a one of kind work of art situated on Camelback Mountain. Escape into the peace and tranquility of a home built to be a part of the Mountain with your own personal botanical garden and views from Camelback to Four Peaks. Awake each morning to spectacular sunrises and watch the desert come alive every day. In the evening retreat into your private backyard looking up at Camelback Mountain. This jewel box was built to optimize the views from every room and create a true retreat in the heart of Paradise Valley. Walk to world class resorts, restaurants, hike on the Cholla Trail, or relax into your spa and take in the views. This understated luxury home embodies what it is to live on the Iconic Camelback in the Arizona desert

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6712 N 65th Street Paradise Valley, AZ 85253

$4,950,000

4 Beds

7 Baths

9,730 SqFt

Status Active Under Contract

MLS # 6693012

Property Type Single Family Residence

Price Type --

BACK FROM SOLD, buyer did not perform. Timeless, PV estate crafted for gracious living in prestigious La Place. Floorplan is designed with large windows throughout to create a resort-worthy ambience & to appreciate the magnificently landscaped acre+ grounds w/ pool and tennis court. Architectural details, ceiling treatments & quality finishes thruout. 4 BRs, each with an en suite bath, walk-in closet and private exit, plus a study, game room and 1600 sf lower level entertainment room. Elevator leads to the dream main retreat upper level w/ dual closets and a deck spanning the rear of the home. Main living areas & main retreat were reimagined in 2017 by a noted designer. 3 gas fireplaces. Extensive security system w/ multiple cameras indoors and outdoors. See Docs for floor plan and more.

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6215 E Turquoise Avenue Paradise Valley, AZ 85253

$4,950,000

7 Beds

10 Baths

9,092 SqFt

Status Active

MLS # 6709896

Property Type Single Family Residence

Price Type --

Nestled within the prestigious enclave of Paradise Valley, this multigeneration home is luxury living at its finest. Grand courtyard entrance w/outdoor gas fireplace. Gourmet kitchen outfitted with Wolff gas stove, Miele Espresso machine, Sub-Zero Refrigerator, granite countertops with built in beverage ice tubs, pantry. Office w/private entrance, & ensuite. Private primary retreat featuring jet tub, double entrance steam shower, his and hers walk-in closets. Basement (1,745 sqft) equipped w/media room, climate-controlled 900 bottle wine cellar, billiard room with bar, bathroom and bedroom. Outdoor living w/putting green, sports court, grotto slide pool, spa, gazebo w/kitchen. Detached casita w/fitness room, infrared sauna, hair salon, 2 baths,1 bdrm, kitchen. Also, for lease $21,750. Main House - 5,872 sq.ft., Attached Guest Suite - 669 sq.ft., Detached Casita - 805 sq.ft., Basement 1,746 sq.ft. See Floor plan with measurements in Documents Tab.

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9333 E Pinnacle Vista Drive Scottsdale, AZ 85262

$4,900,000

5 Beds

4 Baths

6,022 SqFt

Status Active

MLS # 6663839

Property Type Single Family Residence

Price Type --

360 views on nearly 7.5 acres in North Scottsdale overlooking Pinnacle Peak, The McDowell's and Camelback! The main home features 4 bedrooms and 3 baths. Guest casita has 1 bedroom, 1 bath at 864 sq ft with full kitchen and laundry. As you enter you are welcomed by floor to ceiling windows with breathtaking views, natural desert, and distant city lights. Store your favorite wines in the temperature controlled custom wine wall. This completely updated home includes a gorgeous kitchen complete with a white marble waterfall island, walnut bar-top counter, top of the line appliances and custom cabinetry. These views are a must see!

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14545 E Rincon Creek Ranch Road Tucson, AZ 85747

$4,900,000

14 Beds

16 Baths

14,462 SqFt

Status Active

MLS # 6710405

Property Type Single Family Residence

Price Type --

Welcome to your dream come true! Whether that dream includes providing brides with their fairytale weddings; hosting exciting corporate retreat adventures; catering a high end spa and/or spiritual experience; furnishing a quiet escape for high profile individuals; operating a quaint bed and breakfast; or even creating a family compound for generation after generation to enjoy, this property is equipped to bring any of these scenarios, or whatever your vision may be, to fruition. Rincon Creek Ranch boasts a completely remodeled 4772 sq. ft. main ranch house surrounded by an acre of lush lawn and mature mesquite trees adorned with fairy lights, as well as 60 foot pines; ramada/dance floor illuminated by chandeliers and string lighting; seven newly built, upscale Southwestern style casitas ranging from 915 to 1192 sq. ft. each; a shop; detached garage; carports; coop and aviary; BBQ area; swimming pool; pastures; and a Spanish Mission style event hall inclusive of a gathering room, galley kitchen, two restrooms, and a carpeted massage room and rubber-floored exercise room - both with separate entrances. This 87-acre property has numerous vistas and sanctuaries in which to enjoy breathtaking mountain and desert views and abundant wildlife sightings. Rincon Creek Ranch shares a half- mile border with the Saguaro National Park and has direct, legal, gated access into the Park. The whole of the property encompasses the stunning beauty of the Sonoran Desert. Although situated for consummate privacy, the Ranch has quick access to Tucson International Airport and is within a short driving distance of many tourist destinations, recreational activities, cultural and art exhibits, and restaurants. Realize your dreams with Rincon Creek Ranch - the possibilities are endless!

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5127 N 71st Street Paradise Valley, AZ 85253

$4,900,000

4 Beds

5.5 Baths

5,112 SqFt

Status Active

MLS # 6716752

Property Type Single Family Residence

Price Type --

CUSTOM REMODEL.....GREAT LOCK AND LEAVE IN PV.

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