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.
Click Here to See What Your Home is Worth
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) 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, hair salon, 2 baths,1 bdrm, kitchen. $80k Seller concessions to level internal steps. 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.
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!
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!
8788 E Branding Iron Road
Carefree, AZ 85377
$4,900,000
7
Beds
6.5
Baths
8,132
SqFt
Status
Active
MLS #
6773339
Property Type
Single Family Residence
Price Type
--
Exceptional Desert Contemporary w/ 360-degree mountain views. Atop nearly 15 acres of pristine land nestled within the natural desert surround, offering immense PRIVACY. Gourmet kitchen w/ WOLF, Subzero & Cove appliance package, soaring ceilings, curved walls, sauna, exercise room, office & basement, coffered ceiling details, electronic roller-shades through-out home, Detached guest house w/ full kitchen & living room, fireplace, 2 bedrooms, W&D, 1 car garage 30 x40 separate garage/workshop w/ Heat, AC & exhaust fan, gated paved driveway, Elan AAA security system, negative edge pool, spa, boulder water & slide, putting green & large synthetic grass areas, multiple covered patios. Generator, Private Well, Forest of Saguaros. Main House is 6,753 sq ft and Guest house is 1,379. NO HOA.
29672 N 77th Place
Scottsdale, AZ 85266
$4,900,000
6
Beds
6.5
Baths
6,430
SqFt
Status
Active
MLS #
6760786
Property Type
Single Family Residence
Price Type
--
Totally reimagined in 2023/24, this luxurious North Scottsdale estate is situated on 1.78 acres in an exclusive, gated community of 5 homes. This home captures the incredible views surrounding its peaceful & serene setting. An expansive split floor plan w 5 spacious bedrooms, 5 1/2 baths, game area & full wet-bar in the main house (AC 4 car garage) & a guest house/casita w/ 2 bedrooms (1 is an exercise room), bath, kitchenette & living area. Gourmet kitchen includes Quartzite counters, custom Alder wood cabinetry & Miele, Wolf, Sub-Zero appliances. A 1600 sf covered patio offers you sunrises over the majestic McDowells & sun sets over the Valley all while you are having coffee, gathering friends in the evening, swimming or playing tennis on your private lighted court. No expense spared on this magnificent home! You will love all the amenities of this home & the incredible outdoor/indoor living it offers. Minutes from Carefree and North Scottsdale dining, shopping and entertainment.
18826 N 101st Place Unit 10
Scottsdale, AZ 85255
$4,900,000
3
Beds
3.5
Baths
3,693
SqFt
Status
Active
MLS #
6699585
Property Type
Single Family Residence
Price Type
--
Discover refined elegance in this single-level residence ideally situated in Horseshoe Canyon near the prestigious Silverleaf Club. The charming front courtyard features a soothing water fountain and sitting area, setting the tone for the luxury within. Inside, the great room boasts a gorgeous tongue and groove wood ceiling and grand pocketing doors leading to the stunning outdoor living area. The gourmet kitchen is equipped with granite counters, Viking appliances, and an expansive butler's pantry with additional ovens and refrigerator drawers for seamless entertaining. The principal suite offers tranquility with a spacious bedroom, small refrigerator, dual sinks, separate shower, jetted tub, and large walk-in closet. Two additional en suite bedrooms provide comfort, while a ... sizable office with courtyard access ensures working from home is a breeze. Outside, the resort-style living area is an entertainer's dream, featuring a pool and spa, firepit, and BBQ center under a picturesque gazebo. The covered patio offers elegant dining options, complemented by roller shades and an outdoor fireplace for year-round enjoyment. A pristine synthetic turf lawn adds a touch of green luxury. The home also features travertine and hardwood floors throughout, a subzero wine chiller, a well appointed laundry room with sink, and powder bath. Experience sophisticated living in this exceptional luxury residence.
11475 E Paradise Lane
Scottsdale, AZ 85255
$4,899,000
5
Beds
5.5
Baths
6,782
SqFt
Status
Active
MLS #
6690112
Property Type
Single Family Residence
Price Type
--
If you love to ENTERTAIN, this REMODELED custom estate with mountain views from almost every window is for you! Located on a 1.2 acre hillside lot on a cul-de-sac in the guard gated community of the Retreat at 100 Hills in McDowell Mountain Ranch. Drive up the new, winding exposed aggregate driveway with plenty of onsite parking for guests leading to the auto court situated adjacent to the 4+ car/2400 square foot garage. Next, enter this Modern Mediterranean home through the gated courtyard which includes a cozy gas fireplace and serene fountain. Enter the home through the custom iron and glass entry door into the domed foyer. Architectural details throughout the home include new engineered oak wood flooring, knotty alder doors and cabinets, coffered ceilings, expansive rooms with ceiling heights ranging from 18 to 11 feet, re-textured walls and ceilings with a 90/10 drywall finish painted bright white. The Chef's kitchen equipped with a large island with waterfall quartz counters is the ideal place to prepare a gourmet meal or host friends and family. The dining room with adjacent butler's pantry with secondary prep area, bar, dishwasher, warming drawer and microwave is just steps from the kitchen. After dinner relax and entertain in the expansive game room with wet bar, family room and home theatre. The property includes 4 bedrooms plus an office/den on the main level and an attached casita with a kitchenette and ensuite bedroom. The primary bedroom has a separate patio overlooking the mountain preserve. The primary bathroom includes a large walk-in shower, his and hers vanities and a free standing tub. The outdoor spaces include numerous patios, extensive hardscape, a large negative edge playpool with swim up bar, firepots, spa, fire pit, outdoor kitchen and room for a play area or putting green. Interior remodel includes new wood and tile flooring, quartz countertops, plumbing fixtures, lighting fixtures, ceiling fans and more. The 100 Hills community is conveniently located near freeway access, golf courses, dining, shopping, schools, hiking trails and much more. 100 Hills has a private tennis courts and a community pool and spa. McDowell Mountain Ranch offers access to recreational amenities including pickleball courts, tennis courts, pools, parks, hiking trails and community activities for all. Nearby is the McDowell Mountain Aquatic Complex with multiple pools, a lazy river and waterslide, fitness facilities and skate park. Owner/agent
24351 N 97th Drive
Peoria, AZ 85383
$4,897,000
4
Beds
5
Baths
6,843
SqFt
Status
Active
MLS #
6769072
Property Type
Single Family Residence
Price Type
--
Welcome to this stunning, one-of-a-kind modern masterpiece nestled in the heart of Peoria, Arizona. This luxurious 4-bedroom residence boasts an extraordinary design that seamlessly blends indoor and outdoor living, reminiscent of the vibrant style found in Miami. As you approach the home, you're greeted by sleek lines and a contemporary façade that sets the tone for the elegance within. Step inside to an expansive open floor plan, where high ceilings and an abundance of glass windows and doors flood the space with natural light. The living area effortlessly flows into a state-of-the-art kitchen, featuring top-of-the-line appliances, quartz countertops, and a spacious island perfect for entertaining. Each of the four bedrooms offers a private retreat, with generous closet space and en-suite bathrooms that showcase modern fixtures and finishes. The highlight of the property is the large casita, ideal for guests or as a private office, providing versatility to suit your lifestyle. Step outside into your own paradise: the outdoor kitchen is a chef's dream, complete with a built-in grill and ample seating, perfect for hosting unforgettable gatherings. The 966 sq ft pool and hot tub invite relaxation and rejuvenation, surrounded by beautifully landscaped grounds that enhance the home's serene ambiance. With expansive covered patios that blur the lines between indoor and outdoor spaces, this home is designed for the ultimate Arizona lifestyle. Whether you're lounging by the pool, entertaining guests, or simply enjoying a sunset, this property offers a unique blend of luxury and comfort that truly feels like a desert escape. Don't miss the opportunity to own this extraordinary modern home in Peoriawhere sophistication meets style in perfect harmony.
5567 E Mcdonald Drive
Paradise Valley, AZ 85253
$4,895,000
5
Beds
5.5
Baths
3,148
SqFt
Status
Active
MLS #
6738950
Property Type
Single Family Residence
Price Type
--
Welcome to Your Dream Retreat in Paradise Valley! Access to the amenities of The Sanctuary including security, gym, maid service, pools, food service & more. This exquisite home was torn down to the foundation in 2012, and 3m was spent on the re-build. Enjoy Stunning views of Camelback Mountain and city light views. The main house boasts elegant living areas and a gourmet kitchen perfect for entertaining. Step outside to enjoy the sparkling pool, or engage in friendly competition on the private tennis and basketball courts. 3 separate guest casitas are perfect for friends and family. Experience extraordinary living with luxurious amenities, stunning views, and unrivaled tranquility in this exceptional Paradise Valley estate. Your perfect oasis awaits
9957 E Larkspur Drive
Scottsdale, AZ 85260
$4,850,000
4
Beds
4
Baths
4,014
SqFt
Status
Active
MLS #
6754138
Property Type
Single Family Residence
Price Type
--
The unexpected home of your dreams ... with the cool of steel combined with the warmth of wood, walls of glass and lush grass- This is Estate 48. Just like Arizona, the 48th State , Kent Architects and Argue Custom Homes built a strong , unique and warm home that rebels against the expected architecture. Brilliant floor plan featuring wide open entertaining spaces, temperature controlled garages with lounge area with sauna. Oversized storage room with hvac easily can be another bedroom or workout room! Serene pool and sun deck , monster spa , bocce ball and deep covered patios. For a couple or a family, this is PARADISE.
39494 N 105th Street Unit 74
Scottsdale, AZ 85262
$4,850,000
4
Beds
4.5
Baths
5,620
SqFt
Status
Active
MLS #
6757276
Property Type
Single Family Residence
Price Type
--
Discover the epitome of luxury living in this stunning 4-bedroom, 4.5-bathroom new custom home by Black Stone Custom Homes and Graffin Design. This exceptional new build offers a perfect blend of modern design, craftsmanship, and attention to detail. Spanning an open and airy floor plan, the home features a spacious great room with vaulted ceilings, large windows for natural light, and a sleek fireplace as the centerpiece. The gourmet kitchen will include top-of-the-line stainless steel appliances, custom cabinetry, a large island, and a walk-in pantry—perfect for both everyday living and entertaining. Each bedroom is designed as a private retreat, with its own en-suite bathroom. The primary suite will serve as a luxurious haven, complete with a spa-like bath featuring a freestanding tub, walk-in shower, double vanities, and an expansive walk-in closet. The additional bedrooms are equally spacious, offering comfort and privacy for family members or guests. With a second story, The second story of this custom home offers a versatile space that can easily be adapted to meet your needs. Currently designed as a large bonus room, it provides endless possibilitiesa perfect setting for a home office, media room, or game room. For those seeking additional guest accommodations, this space can be seamlessly converted into a spacious guest bedroom offering comfort and privacy for overnight visitors. Outside, the home is set to feature a covered patio ideal for outdoor dining and relaxing. With high-end finishes and customizable options still available, this home by Black Stone Custom Homes and Graffin Design offers a unique opportunity to create your dream living space. A golf membership is available with approval from the membership committee, allowing you to enjoy exclusive access to the community's world-class golf course and amenities. Additionally, a rental home is available for up to two years during the construction of your new custom home, providing a comfortable and convenient living arrangement while your dream home is being built.
10671 E Hedgehog Place
Scottsdale, AZ 85262
$4,850,000
5
Beds
5.5
Baths
6,422
SqFt
Status
Active
MLS #
6660987
Property Type
Single Family Residence
Price Type
--
Discover the epitome of luxury living with this shovel-ready, permitted masterpiece—an unparalleled custom home nestled atop a mesmerizing south-facing 2+ acre view lot in Pinnacle Canyon at Troon North. Boasting an expansive 6400 sqft of living space and an additional 1300 sqft of covered patio, this unique residence encompasses 4 bedrooms, 5.5 bathrooms, and a generously sized 3-car garage—all poised and ready for your enjoyment. Seize the opportunity to personalize your haven by selecting finishes and incorporating bespoke customizations. Designed by the esteemed Urban Design Group, this residence not only exemplifies sophistication but also expedites the construction timeline, saving you over a year in build time compared to starting from scratch. Don't miss the chance to call this extraordinary dwelling your own. It's more than a home; it's a lifestyle waiting to unfold. Act now and make this exclusive dream home yours.