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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39254 N 104th Place Scottsdale, AZ 85262

$4,760,450

4 Beds

3.5 Baths

5,011 SqFt

Status Active

MLS # 6714712

Property Type Single Family Residence

Price Type --

Nestled within the prestigious Desert Mountain community, renowned for its world class golf and stunning desert landscapes, this exquisite custom home offers the epitome of luxury living. FULL GOLF MEMBERSHIP is available through the club upon approval and close of escrow. Crafted in 2018 by the esteemed Red Moon Development, this soft contemporary residence seamlessly blends indoor and outdoor living spaces, providing a serene retreat in the Sonoran Desert. Greeted by an abundance of natural light through large sliders, breathtaking outdoor vistas, covered patios, pool, spa, and views of city lights and rolling mountain vistas to the west serve as a captivating backdrop. Designed for entertaining, the outdoor living spaces are a true oasis with outdoor kitchen, dining, fire pit, all... surrounded by lush, newer, landscaping design including mature cacti and meticulously watered pots. Whether hosting a soiree under the stars or simply enjoying a quiet evening soak, this outdoor setting will be enjoyed year-round. Experience the pinnacle of unparalleled quality and craftsmanship in this home with 2 primary suites, 3rd bedroom, and office, or 4th bedroom to suit a family or empty nesters. Within the home with no steps, even the most discerning chef will feel right at home with gas stove, walk-in pantry, extended island, and informal dining all the while in view of the stone stacked fireplace. The elegance extends to the modern, faux, hand painted ceilings, stand-alone bar, and back lit 750 bottle wine wall elevate every corner into a work of art. Car enthusiasts will delight in the 5-car garage with built in cabinetry and work bench, and large motor court. Meanwhile, 23 owned solar panels meticulously placed out of view, ensure economical electric bills, control 4 system, 220 electric car charger, water filtration system, all adding to the homes sustainability and efficiency. Lot is conveniently located within walking distance to the state-of-the-art fitness center, tennis courts, 8 pickleball courts, and one of the 10 restaurants within Desert Mountain. Furniture and turn key an option at additional cost.

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5601 E Caballo Drive Paradise Valley, AZ 85253

$4,750,000

7 Beds

6.5 Baths

7,546 SqFt

Status Active

MLS # 6787894

Property Type Single Family Residence

Price Type --

Stunning Paradise Valley estate with Mummy Mountain views. This luxurious and modern 2 story home was meticulously renovated and features a separate casita. Open concept living with high ceilings and multiple windows and sliders providing natural lighting throughout each living space. Chef's kitchen features high end appliances, oversized island, dual refrigerators and dishwashers, quartz counters, and pantry. Primary suite includes a fireplace, private entrance to the backyard, dual vanities with freestanding bathtub and large shower. Entertain family and friends in the backyard featuring custom pool/spa, volleyball court, ramada/gazebo, covered patio and large yard with artificial turf and mature trees. Additional features include smart home technology, office/den, and 6 guest bedrooms. Minutes away from Paradise Valley's top resorts, golf, dining, and shopping!

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6715 E Beryl Avenue Paradise Valley, AZ 85253

New

$4,750,000

6 Beds

5.5 Baths

5,014 SqFt

Status Active

MLS # 6789358

Property Type Single Family Residence

Price Type --

This elegant property blends modern luxury with thoughtful design, offering seamless indoor-outdoor living in a prime location. The front courtyard welcomes you with charm and privacy, leading to an expansive open-plan interior. The gourmet kitchen, equipped with Miele appliances, features a gas stove, steam oven, and 60'' refrigerator-freezer. Quartz countertops and sleek finishes make it a chef's dream. Adjacent, the dining and family room centers around a gas fireplace, with pocket sliding doors opening to the backyard. A spacious great room includes a wet bar, wine and beverage refrigerators, and flexible seating for entertaining. Throughout the home, natural light and exquisite fixtures elevate every space. The principal suite is a private retreat, complete with a ... fireplace, pool views, and a luxurious en suite bathroom featuring a glass shower, soaking tub, dual sinks, and a walk-in closet. Two guest en suites also include walk-in closets, while the separate guest casita offers three bedrooms, two bathrooms, a kitchenette, a living room and a laundry roomperfect for extended stays or private living quarters. Outdoors, the vast backyard impresses with a sparkling pool, multiple seating areas, a built-in BBQ, firepit, synthetic grass and bar seating for entertaining. Sustainability features include Tesla-owned solar panels with a 6.75 KW inverter supporting the entire home, plus a three-car garage pre-wired for EV chargers. This extraordinary home combines unparalleled comfort with cutting-edge amenities, setting a new standard for luxury living.

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10116 E Relic Rock Road Scottsdale, AZ 85262

$4,750,000

5 Beds

5.5 Baths

6,071 SqFt

Status Active Under Contract

MLS # 6751540

Property Type Single Family Residence

Price Type --

The VIEWS from every room in this home are simply breathtaking. Don't take my word for it, come see for yourselves! This offering encompasses all the essential criteria requested by the most discriminating Buyers, starting with the views which are unique to this hillside site. This contemporary southwest design by Taliesin inspired architect Bing Hu is a work of art. Featuring four ensuites and five and a half baths plus an office with a dedicated Bath (5th Bedroom), a free-standing guest house with living quarters then add a home theater, game room and 4 car garage. This home serves beautifully as a year-round residence or a second home where you can entertain friends and family in style. Furnishings available. golf course lot, mountain, sunset and Valley lights views. This one of a kind residence in its unique setting is the quintessential union of art and function. Golf Memberships are available through the Desert Mountain Club and interim social membership privileges are extended to approved applicants on the waitlist. Contact the Desert Mountain Membership office for further details.

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6312 N 42nd Street Paradise Valley, AZ 85253

$4,750,000

4 Beds

5 Baths

7,800 SqFt

Status Active Under Contract

MLS # 6751699

Property Type Single Family Residence

Price Type --

Nestled on nearly 1.4 acres in the Clearview gated community sits this 4 bedroom, 5 bath estate. Soaring Camelback, Mummy, and Phoenix Preserve Mountain views in the Hopi district, home features high ceilings, arched entryways, wooden beams, and natural light with large sliders and windows. Chef's kitchen includes crown molding, custom cabinets, high end appliances, butler's pantry, kitchen island and eat-in kitchen. Primary suite holds a fireplace, sitting area, separate exterior entrance, and spacious bathroom with dual vanities, freestanding bathtub, oversized shower, and dual walk-in closets. Stunning mountain views surround the backyard's custom pool/spa with expanded pool deck, covered patio, built in BBQ, and multiple areas for lounging and entertaining, featuring front and back desert landscaping. Additional rooms include formal dining room, great room with gas fireplace, theater, and family room with a wet bar. Located only minutes away from Paradise Valley and Scottsdale's world class resorts, dining, and shopping.

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11008 N 60th Street Scottsdale, AZ 85254

$4,750,000

4 Beds

3.5 Baths

6,823 SqFt

Status Active Under Contract

MLS # 6770427

Property Type Single Family Residence

Price Type --

Private 1-acre estate with mountain and golf course green views. This 2-story Candelaria designed home boasts wood floors, high ceilings, and tons of natural light beaming in through the French windows and doors. Luxury living with a gas fireplace in the great room, formal dining, billiards room with wet bar, office, and expansive 2nd story balcony perfect for private gatherings with fire pit and stunning views. Chef's kitchen includes high end appliances, multiple ovens, island, and pantry. Primary suite includes private entry to the backyard, vaulted ceilings with wooden beams, gas fireplace, walk-in closet, dual sink vanities, and separate bathtub and oversized shower. Manicured grounds and mature landscaping surround the custom pool with expanded pool deck, Ramada with built-in TV and firepit, and multiple covered and uncovered areas to lounge and entertain. Located minutes from Paradise Valley's top resorts, golf, hiking, dining, and shopping.

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5738 N 32nd Place Paradise Valley, AZ 85253

$4,700,000

5 Beds

5.5 Baths

6,724 SqFt

Status Active

MLS # 6755176

Property Type Single Family Residence

Price Type --

One-of-a-kind 1.5 acre mountain lot on a cul-de-sac, gated estate, Breathtaking custom hillside PV home w/ panoramic mountain & city views. The entry level of the home boasts a chef's kitchen with Subzero/Wolf appliances & large pantry , bar, dining room, large laundry room, primary bedroom w/fireplace, 2 balconies, ensuite bath with his/her vanities & large walk in closet, secondary ensuite bedroom w/fireplace and private patio, office w/wine cellar, stunning views from the living/family rooms that lead to an oversized covered patio w/custom stonework, fireplace, outdoor kitchen- perfect for entertaining! Downstairs is the family room w/direct pool access, 3 additional bedrooms (two ensuite w/ walk in closets), a movie theatre/playroom. NO HOA & Oversized 4 Car Garage! Prime location minutes from the best shopping, world class resorts, golf, hiking & restaurants in the valley!

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8714 N 65th Street Paradise Valley, AZ 85253

$4,700,000

4 Beds

3.5 Baths

4,471 SqFt

Status Active

MLS # 6769504

Property Type Single Family Residence

Price Type --

This elegant, Mediterranean-style home is new to the market and a must-see for those seeking a home that blends timeless charm with serene mountain views in a highly-sought after neighborhood in Paradise Valley. This exceptional property boasts soaring wood beamed ceilings in the master, living, dining and family rooms; three stone fireplaces; custom hardwood flooring throughout; and french doors in the grand living and dining area. Outside, enjoy the resort style backyard complete with a beautiful covered patio, large pool and expansive lawn against the backdrop of stunning mountain views. This property's desirable lot orientation and location makes it a true standout in Camelback Country Estates Unit 1. This home has been cherished by the same family for four decades... now let your family create its own memories here!

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40660 N 109th Place Scottsdale, AZ 85262

Open House

$4,700,000

4 Beds

5 Baths

6,875 SqFt

Status Active

MLS # 6649794

Property Type Single Family Residence

Price Type --

Welcome to 40660 N 109th Place, a Desert Contemporary masterpiece originally designed by renowned architect David J. Wade, a native Arizonian. This extraordinary home has undergone a complete renovation, resulting in a harmonious blend of modern luxury and natural beauty. Nestled within the breathtaking high desert landscape, the home boasts strategically placed picture windows that frame the majestic mountain views from every vantage point. Situated on two spacious lots within the prestigious Desert Mountain Country Club, this residence offers a level of exclusivity and privacy that is truly unparalleled. The meticulous attention to detail is evident throughout the property, featuring grand coffered ceilings, exquisite French oak floors, elegant limestone fireplaces, and precast exposed concrete block walls that pay homage to the iconic designs of Frank Lloyd Wright. Immerse yourself in the sheer magnificence of this architectural masterpiece by touring the home in person. Prepare to be captivated by the seamless integration of indoor and outdoor living spaces, the finest craftsmanship, and the awe-inspiring natural surroundings. This is a once-in-a-lifetime opportunity to own a true desert sanctuary that embodies the essence of luxury living. The Seller will credit Buyer $200,000 to be applied to golf membership.

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5311 E Via Los Caballos -- Paradise Valley, AZ 85253

$4,695,000

6 Beds

7 Baths

6,081 SqFt

Status Active

MLS # 6784600

Property Type Single Family Residence

Price Type --

Experience elegance in this custom-built 5 bedroom all en-suite, 7-bath luxury estate. Bonus room (could be 6th bedroom) and a large Game Room! Home is craftsman-inspired where warmth meets refined sophistication. Nestled to capture breathtaking mountain views with a South backyard, this home's sprawling grassy backyard and mature trees is an entertainer's paradise, featuring a resort-style retreat with a sparkling spa, lap pool, sport court, and an expansive covered patio perfect for outdoor living and dining. Inside, the split floor plan offers four ensuite bedrooms, each with custom walk-in closets, plus a built-in study area for added versatility. The Primary Suite was recently updated with timeless wood floors, walnut millwork, a luxurious bath featuring a Dry Sauna, Spa-Style dual shower, custom floating walnut vanities and gorgeous lighting! Closet to be envied and a large center island. An attached exercise room is the added bonus to this suite. An attached casita provides the perfect setting for a playroom or guest suite, while a secluded office, located near the walk-in wine room, offers an elegant, private workspace. Practical elegance is found in the well-appointed laundry/workspace, mudroom, and storage area adjacent to the garage. Don't miss the wine cellar room and spacious garage with even more storage. Enveloped by mature landscaping, this estate offers total privacy and captures the beauty of its mountain surroundings, creating an exquisite luxury retreat. Located in the heart of Paradise Valley and walking distance to Cherokee Elementary School.

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5350 E Calle Del Medio -- Phoenix, AZ 85018

$4,695,000

4 Beds

4.5 Baths

6,167 SqFt

Status Active

MLS # 6735383

Property Type Single Family Residence

Price Type --

Remodeled in 2018, this stunning 6,100 sqft Arcadia Estate sits on a beautiful corner lot bursting with curb appeal with its lush landscaping and welcoming front porch pergola and classic red brick fireplace to greet guests. Thoughtfully designed, this split floor plan presents four spacious ensuite bedrooms including a primary suite designed with luxury and comfort in mind with a spa like bathroom featuring a stand alone tub, walk-in shower, double vanities and hand selected finishes throughout. The rest of the home includes a formal family room finished with wainscoting, a coffered ceiling and a cozy fireplace. In addition, enjoy a private home library with custom built-ins and a reading nook, and a spacious front room perfect for formal dining or a home office. The butlers pantry, with a temperature controlled wine room, connects the formal dining to an oversized eat-in kitchen which is a testament to traditional elegance boasting marble countertops, a large kitchen island, and top-of-the line appliances including a Wolf Range and a Sub-Zero refrigerator/freezer. A passthrough fireplace seamlessly connects the kitchen to the home's great room which includes a full bar and a stunning sliding door entrance to the backyard. Designed for both relaxation and entertainment, the backyard retreat features lush landscaping, a diving pool that can be both heated and cooled, a built-in BBQ, and an elegant covered ramada that houses an outdoor fireplace creating a cozy ambiance for evening conversations and gatherings. To top it off, all your family and friends can have fun enjoying the in-ground trampoline, bocce ball court and a professional batting cage. Walking distance to the coveted Hopi Elementary and in close proximity to Arcadia's most popular shopping and dining experiences, this is the perfect place to call home so you can live, work and play the Arcadia lifestyle.

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40575 N 109th Place Scottsdale, AZ 85262

$4,695,000

4 Beds

4.5 Baths

4,268 SqFt

Status Active

MLS # 6753950

Property Type Single Family Residence

Price Type --

DESERT MOUNTAIN GOLF MEMBERSHIP AVAILABLE!Stunning Contemporary design by Scott Lenz with panoramic views from Pinnacle Peak to Apache Peak with valley and mountain, and sunset vistas. Open great room floor plan features 4 bedrooms and 4.5 baths and a large three car garage close to the Apache Club House. Planning for spring of 2025 completion. Home is in drywall stage with cabinets and flooring to be installed late November. Appliances to be installed shortly thereafter. Rooms designated and spec book is on property. Great detail and finishes. A 30 day membership application review and approval is required.

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