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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8537 E Pasadena Avenue Scottsdale, AZ 85250

$820,000

3 Beds

2.5 Baths

1,795 SqFt

Status Active

MLS # 6779591

Property Type Single Family Residence

Price Type --

Enjoy life close to Old Town Scottsdale! Amazing curb appeal with glass garage door, paver entry, and low maintenance yard. 3 bedrooms and 2.5 bathrooms. Engineered hardwood flooring throughout the house. Kitchen features custom cabinetry, waterfall edge island, herringbone tile backsplash, and more. Follow the massive 16' slider to your backyard with brand new turf and mature citrus tree. The gorgeous laundry room doubles as a butler's pantry, complete with a built-in wine fridge. Primary suite includes large double closets, chandelier, walk-in shower, and double sinks. Owners raised the ceiling height in all hallways, added new insulation, updated all electrical and plumbing, added all new windows and doors, and epoxy coated the garage floor. Home includes a newer AC unit and Hot Tub

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10802 S Santa Margarita Drive Goodyear, AZ 85338

$820,000

5 Beds

3 Baths

3,013 SqFt

Status Active

MLS # 6782172

Property Type Single Family Residence

Price Type --

Custom 5-Bed, 3-Bath Home with 4-Car Garage & RV Gate in Estrella Mountain! This nearly 1/2-acre home features a brand-new kitchen with custom cabinets, quartz countertops, and new fixtures. Updated neutral laminate flooring flows throughout the open floor plan. Spacious bedrooms, updated bathrooms, and a sparkling swimming pool make this home ideal for entertaining. Enjoy over 5,000 sqft of lush turf in the backyard, perfect for play and relaxation. With a 4-car garage, RV gate, and proximity to the lake, waterpark, hiking, and schools, this move-in ready gem won't last long!

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5956 E Lone Mountain Road Cave Creek, AZ 85331

$820,000

3 Beds

2 Baths

2,048 SqFt

Status Active Under Contract

MLS # 6729743

Property Type Single Family Residence

Price Type --

Nestled on over 2 acres of scenic, pristine natural desert land, this property features 3 spacious bedrooms, including a convenient lower-level bedroom, and 2 bathrooms. Enjoy breathtaking panoramic 360-degree mountain views from every window, creating a serene and picturesque backdrop for your daily life - Million-dollar views at less than a million-dollar price! This home also includes a 4-car garage with separate air conditioned 500 sq. ft. workshop, perfect for your cars, hobbies, and projects. With ample space for your toys, horses and RV, you have the ideal setting for crafting your dream outdoor lifestyle. The town of Cave Creek allows for up to 10 horses and offers the opportunity to build a casita on the property for even more possibilities. Located just minutes from the town core, this property offers the perfect blend of convenience and tranquility. Zoned Dr-89, which allows 10% of lot size under roof can be used for existing house, new guest house and/or barn with a height max of 25 feet, setbacks are 60 feet front and back and 30 feet on both sides.

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3223 S Hannah Lane Flagstaff, AZ 86005

$820,000

3 Beds

3.5 Baths

2,382 SqFt

Status Active Under Contract

MLS # 6776272

Property Type Townhouse

Price Type --

Rare end unit in Pinnacle Pines, surrounded by HOA green belt to one side and Forest Service out your backyard. 2,382 sq.ft., 3 bedrooms, 3.5 baths, Primary on the main + Loft/Flex room upstairs. On the main floor an over-sized primary en-suite w/walk in closet , dual sinks and a bonus main floor laundry room. Upstairs a secondary primary-suite for your guest's privacy and an additional guestroom and full bath + secondary loft/flex room plus a 2nd laundry room. This home has all the extra added details and finishes you would desire plus AC. Spectacular outdoor living space that features propane firepit, extended paver area for flex entertainer's space & miles of forest views with trails access. This home will not disappoint.

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1294 E La Fortuna Court San Tan Valley, AZ 85140

$820,000

4 Beds

3 Baths

3,000 SqFt

Status Active

MLS # 6773797

Property Type Single Family Residence

Price Type --

San Tan Valley Getaway: Your Dream Home Awaits you! Discover this perfect blend of space, style, and serenity in this stunning newer home, ideal for RV enthusiasts and those seeking ample garage space with its impressive 5-car garage! Boasting 4 bedrooms plus a den and bonus room, this expansive 3,000-square-foot residence offers room for everyone. As you enter, you'll be greeted by beautiful wood plank-look tile flooring that flows seamlessly throughout the main living areas. The home showcases luxury custom touches, including high ceilings adorned with shiplap and beams that add a touch of elegance. At the heart of the home lies a gourmet kitchen, complete with pristine complete with pristine white 42'' cabinets, a chic subway tile backsplash, and sleek quartz countertopsperfect for culinary creations and entertaining. The inviting open layout is enhanced by two-tone paint and a built-in drop zone storage area in the mudroom. Step outside to your 15,500 sqft lot, where the possibilities are endless! Currently featuring low-maintenance artificial turf, shrubs, and granite, there's ample space to create your own resort-style yard. Imagine designing your dream pool, outdoor kitchen, fire pit, or grassy play areaall on a desirable north/south facing lot nestled on a quiet cul-de-sac street. Conveniently located on the border of San Tan Valley and Queen Creek, you'll enjoy easy access to the 24 freeway extension and a variety of shopping and dining options. Experience the tranquility of suburban living while remaining close to city amenities. Don't miss this incredible opportunity to make this beautiful house your home! Come and see!

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33556 N 74th Street Scottsdale, AZ 85266

$820,000

2 Beds

2 Baths

2,001 SqFt

Status Active

MLS # 6769603

Property Type Townhouse

Price Type --

Charming 2,001 square foot, 2 bedroom + office, 2 bath single-story home is located on a premium cul-de-sac lot in the highly coveted North Scottsdale community of Winfield. Upon arrival, the great room welcomes you. Adjacent to the great room are the dining area and private office. The kitchen shows that it was designed for culinary enthusiasts, featuring stainless steel appliances including a gas range, a breakfast bar, granite countertops, center island, and walk-in pantry. The home offers a split floor plan, with the primary bedroom located on the West side of the home. The lavish primary bathroom boasts a separate shower and a tub, double vanities and an expansive walk-in master closet. The private backyard features mature desert landscaping, a built-in BBQ and fabulous mountain views. The garage with epoxy floors offers ample built-in cabinet space. The location provides quick access to shopping, restaurants, several parks, premier hiking trails, and golfing. Winfield's community pool/spa, fitness center, café, tennis and pickle ball courts make this a very desirable community.

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282 E Bartlett Way Chandler, AZ 85249

$820,000

4 Beds

2.5 Baths

2,526 SqFt

Status Active

MLS # 6763444

Property Type Single Family Residence

Price Type --

Gorgeous single level WITH POOL in Southshore Village. Just under 2600sf, this home features 4 large bedrooms, 2.5 bathrooms, 3 car garage, and a sparkling pool! Granite counters, upgraded cabinetry, epoxy garage floor, outdoor turf, pergola, north south exposure, and a phenomenal location. Close to Basis, Fulton Ranch, shopping, fine dining, grocery stores, and some of the best schools in the valley! Welcome Home!

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7141 E Rancho Vista Drive Unit 5004 Scottsdale, AZ 85251

$820,000

2 Beds

2 Baths

1,424 SqFt

Status Active

MLS # 6769071

Property Type Apartment

Price Type --

Home, sweet home! Located in the prestigious Optima Camelview Village Condominium, this incredible 2-bedroom unit embodies modern comfort & convenience. Come inside & fall in love w/the desirable open floor plan graced w/bountiful natural light, wood flooring, surround sound, a cozy fireplace, & fire sprinklers for added safety. Spotless kitchen offers ample cabinet space, granite counters & backsplash, a peninsula w/a breakfast bar, stainless steel appliances, & recessed & pendant lighting. Enjoy a clear view of the neighborhood from the main retreat, showcasing floor-to-ceiling windows, plush carpet, a walk-in closet, & an ensuite w/dual sinks. Spend quiet moments on the balcony while sipping your favorite evening drink. Exceptional Community amenities await. Act swiftly!

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11856 W Lone Tree Trail Peoria, AZ 85383

$820,000

5 Beds

2.5 Baths

3,231 SqFt

Status Active

MLS # 6772752

Property Type Single Family Residence

Price Type --

Welcome to this BEAUTIFUL 5 bedroom 2.5 bath home with a private pool in the sought after gated Vistancia community of Chaparral Canyon. This home has space for everyone with a formal dining room, eat in kitchen, separate den/teen room & the addition of a 5th bedroom that would make the perfect workout/office space. The kitchen is a chefs dream with double ovens, gas stove, large island & butlers pantry with an attached spacious walk in pantry. The formal dining room is the perfect space to host holiday dinners or enjoy relaxing in your private pool during our hot Arizona summers. Vistancia offers top notch amenities including 3 pools, water slide, pickle ball & tennis courts, indoor basketball court, club house with game room, walking trails, playgrounds & baseball fields. This location is close to the new Fry's grocery store, restaurants (new ones opening later this year) and has easy access to the 303 and Lake Pleasant. The perfect home in the perfect community!

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220 Seco Way Sedona, AZ 86336

Open House

$820,000

2 Beds

2 Baths

2,526 SqFt

Status Active

MLS # 6740146

Property Type Townhouse

Price Type --

Wow what a stunner! This West Sedona townhome is the perfect lock and leave to suit your active Sedona lifestyle. Home is comprised of the most spacious floorplan in the subdivision, with direct Red Rock Views to flood through the large windows in the Great Room for everyday living enjoyment. The kitchen has gorgeous granite counters, beautiful backsplash complimented by undermount lighting, and vaulted ceilings with exposed beams. There is ample natural light throughout with clerestory windows and skylights, plus a large flex room that could be a bedroom, den, office, or grandkids room. With mature Peach trees in your front yard, and an Apple tree and Grapevines in your private back patio, you have an established home waiting for you to have it all in sweet, safe, quiet little Sedona. Arroyo Seco subdivision is close to several local Trailheads for your hiking pleasure: Thunder Mountain is just one of a few, less than a half mile away. Your neighborhood coffee shop, pizza parlor, smoothie bar, library, and hair stylist are all less than a half mile away too. The HOA is famous for maintaining the beautiful pool, hot tub and manicured grounds, incredible Red Rock Views throughout the subdivision, with friendly neighbors-not to mention the fantastic coverage that the HOA offers for your monthly dues! A spacious two car tandem garage plus an additional laundry room inside the home, a large Primary walk-in closet, and an office round out your future home. No stairs or steps inside the home make for easy single level living. You CAN be in the middle of it all, while still magically having peace and quiet in our sweet little Sedona. Furniture package available. Owners are licensed Agent and Broker.

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6931 E Teton Circle Mesa, AZ 85207

Open House

$820,000

3 Beds

3.5 Baths

2,842 SqFt

Status Active

MLS # 6777455

Property Type Single Family Residence

Price Type --

Welcome to this beautiful single-level, 3+bedroom, 3.5-bathroom home in the highly sought-after Las Sendas community. Ideally located in NE Mesa near Saguaro Lake, hiking and biking trails and EZ access to Loop 202 RM. The Diamond Point floor plan provides a spacious great room, a flex space as a den/office or formal dining room, perfect for entertaining! The large kitchen opens to the great room & dining area and features plenty of cabinetry for storage, a pantry, a center island w/gas cooktop, wall oven & microwave and large breakfast bar. All three bedrooms feature a ensuite for ultimate privacy and comfort. One bedroom and ensuite designed to be handicapped accessible, meeting a range of lifestyle needs.Outside, the expansive backyard boasts a sparkling pool, built in BBQ & fireplace. The large covered patio with access from the kitchen and primary bedroom is perfect for outdoor entertaining.The huge side yard is ready for your imagination: turf area for games, childrens play area or pet run. The over height, extended length garage is perfect for larger vehicles, added car lifts or garage storage racks separate A/C unit for hobbies in the garage! Las Sendas Community offers parks,swimming pools & spas, kids splash pad, tennis courts, pickleball courts, basketball courts and trials for quick hikes.

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7701 W Banff Lane Peoria, AZ 85381

$819,999

4 Beds

3 Baths

2,622 SqFt

Status Active

MLS # 6764315

Property Type Single Family Residence

Price Type --

Welcome to your Oasis in Peoria, with 4 bedrooms 3 bathrooms, on A over 1 acre lot. This property is on a county island, and includes its own pool as well as stalls for up to 3 horses. This corner lot provides both space and privacy!

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