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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3749 S Clubhouse Circle Unit 224
Flagstaff, AZ 86005
$3,650,000
5
Beds
5.5
Baths
4,684
SqFt
Status
Active
MLS #
6702759
Property Type
Single Family Residence
Price Type
--
This 5 bedroom 5.5 bath home is the epitome of upscale rustic elegance with every aspect of luxury mountain living. Take in the breathtaking views of the 5th green of Pine Canyon's award-winning golf course from the expansive back patio complete with a fireplace, dog run and built-in BBQ. This home boasts four primary bedroom suites, hardwood floors throughout, a floor to ceiling fireplace, exposed wood beams, two separate dining areas, and a bar area, perfect for entertaining. The spacious kitchen is a chefs dream with granite countertops, separate bar seating for 7, island with veggie sink, 6 burner wolf range and full tiled backsplash. This home also features a private guest bunk room on the upper level of the home and a 3 car garage. Within walking distance to Morrish Station this is truly the picture-perfect place for a family gathering.
40980 N 97th Street
Scottsdale, AZ 85262
$3,650,000
4
Beds
4
Baths
4,954
SqFt
Status
Active
MLS #
6758043
Property Type
Single Family Residence
Price Type
--
Situated on the 10th fairway of the beautiful Chiricahua golf course at Desert Mountain, this charming Santa Barbara style home offers sparkling city lights, sunset, mountain and golf course views. The open and flowing floor plan has three suites in the main home as well as a detached casita. The home is tucked back off of the street for ultimate privacy and has a courtyard entry complete with beautiful water feature and spacious patios. Enjoy the great views from the wrap around outdoor living space complete with pool/spa/bbq and outdoor living room with fireplace and tv. Exquisite details include multiple use of natural stone and wood thru out the home. Being offered turn key minus several of sellers personal items. Truly a must see!
8250 E Via Del Sol Drive
Scottsdale, AZ 85255
$3,650,000
5
Beds
5
Baths
5,394
SqFt
Status
Active
MLS #
6730619
Property Type
Single Family Residence
Price Type
--
Exquisitely renovated, this magnificent estate spans an impressive 5,300 square feet of opulent living space, gracing nearly one acre within the esteemed North Scottsdale guard gated Pinnacle Peak Country Club. The expansive primary suite indulges with a spa-like bathroom, dual closets, and a serene lounge area offering breathtaking views of the backyard oasis. The gourmet kitchen, adorned with state-of-the-art Thermador appliances and a majestic hood, effortlessly caters to grand entertaining with a seamless pass-through window to the outdoor haven. A well-appointed walk-in pantry enhances culinary convenience. Additional luxuries abound, including a meticulously climate-controlled wine cellar, a captivating fireplace, and three sumptuous bedroom suites exuding timeless elegance. A lavish guest house features a full-sized kitchen, luxurious bathroom, inviting bedroom, and expansive sliding doors opening to the shimmering poolside retreat.
42016 N 54th Street
Cave Creek, AZ 85331
$3,600,000
4
Beds
4.5
Baths
4,000
SqFt
Status
Active
MLS #
6657847
Property Type
Single Family Residence
Price Type
--
Luxurious and spacious home with stunning mountain views. This to-be-built home will offer four bedrooms, 4.5 bathrooms, and 4000 sqft of living space on a 2.5-acre lot. The home will have a north/south exposure, a formal dining area, a great room, a private pool, and a three-car garage. The home will also have no HOA fees, giving you more freedom and flexibility. This is a perfect opportunity to own a custom and elegant home in a scenic and convenient location!
3818 E Brown Road
Mesa, AZ 85205
$3,600,000
5
Beds
5
Baths
8,460
SqFt
Status
Active
MLS #
6752634
Property Type
Single Family Residence
Price Type
--
Discover the epitome of luxury living at 3818 East Brown Road, Mesa, AZ. This rare, gated, 4-plus acre equestrian estate is a dream come true for horse enthusiasts and those seeking an unparalleled lifestyle. Nestled in the heart of northeast Mesa, this single-level, custom-built Amberwood home spans 8460 square feet (Main House is 6836sf, guest house is 576sf, guest house basement is 1048sf) and offers an array of exceptional features. The property boasts a 4-stall barn, two tack/feed rooms, a wash rack, and an arena, making it perfect for equestrian activities. Inside, you'll find 4 spacious bedrooms, including 2 primary suites, and 4 well-appointed bathrooms. The home is designed for both comfort and elegance, featuring... formal living, dining, and family room with wet bar, a large office with wet bar, a gym, and a game room with wet bar. Car enthusiasts will appreciate the attached and detached garages that can accommodate up to 10 cars, with 6 garage spaces equipped with A/C. The outdoor amenities are equally impressive, with an amazing custom pool and patio seating, a covered patio with a fireplace, and an outdoor ramada complete with a fireplace and kitchen. The guest house/casita offers additional living space with 1 bedroom, 1 bathroom, a kitchen, and a basement that includes an exercise room and a shooting/archery range. The expansive lot is beautifully landscaped with large front and back lawns, numerous citrus trees, and mature palm trees, creating a serene and picturesque environment. Conveniently located close to the 202 freeway, residents enjoy easy access to all parts of the Phoenix metro area, including PHX Sky Harbor. The property is an ideal choice for families. For recreation, the Mesa Tennis & Pickleball Center at Gene Autry Park are just a short drive away. This home offers the perfect blend of convenience and luxury. This estate is not just a residence but a lifestyle choice for those seeking the best in Mesa living. Don't miss out on this extraordinary opportunity to own a piece of paradise in one of Mesa's most sought-after locations.
1502 E Treasure Cove Drive
Gilbert, AZ 85234
$3,600,000
8
Beds
8
Baths
6,781
SqFt
Status
Active
MLS #
6760150
Property Type
Single Family Residence
Price Type
--
Welcome to the rarest one-of-a-kind MASTERPIECE in prestigious GATED West Lake Estates! This unique estate is located on 2 waterfront lots with the most STUNNING expansive 240 degree views of the lake--and this exquisite ESTATE has recently been completed remodeled! Some unique features: over 6700 square feet of the finest luxury and superior quality finishes with 8 bedrooms and 8 baths, a large 3 car garage, an elevator, Gourmet Chef's Kitchen--both indoors and out--home theater, game room, 50 bottle wine room with humidor, impressive outdoor patio with a huge gazebo that has misting and heating, firepits, impressive 36,000 gallon salt water pool with swim up bar.. the views & outdoor living are like living in the finest 5 star resort! Click ''more'' for further Also included is the Val Vista Lakes Clubhouse which has: tennis courts, pickleball courts, raquetball courts, weight room, aerobic room, heated outdoor Olympic sized lap pool, beach pool with waterfalls, boat dock with boat and ballroom facility for private events! This is in a prime location--close to shopping, Dana Park which has some of the best restaurants and shopping in the Valley! It is a few minutes from the US-60 and Loop 202, close to Banner hospital and only about 25 minutes from the Sky Harbor Airport!
2726 E Lovebird Lane
Gilbert, AZ 85297
$3,600,000
6
Beds
6.5
Baths
6,961
SqFt
Status
Active
MLS #
6765547
Property Type
Single Family Residence
Price Type
--
UNICORN ALERT! Oh, be still your heart, this one really is a unicorn! Spectacular basement home in the heart of Whitewing at Germann Estates, one of Gilbert's premiere luxury gated communities. From the massive front courtyard to the picture perfect back yard with the Lautner knife edge pool, cabana, putting green & firepit area, this one takes the cake. Inside is a split floor plan, formal living/dining, impeccable designer kitchen, large living room w/ slider doors that pocket into the wall & high flat modern ceilings. The basement is built for cool people only with projection TV in the massive living room, 2 bedrooms, 2 baths and a huge storage closet. Attached casita too! 3 garages (possible lift for a 4th). This home is pure perfection and a true prize. Come see why and fall in love!
19621 N 96th Place
Scottsdale, AZ 85255
$3,600,000
5
Beds
4
Baths
4,435
SqFt
Status
Active
MLS #
6752044
Property Type
Single Family Residence
Price Type
--
Highly sought after, gated DC Ranch Hacienda on one of a kind, oversized lot is tucked on an exterior cul de sac street with amazing curb appeal, faces open preserve and backs to natural area with picturesque McDowell mountains. Capture serene mountain and city light views from multiple areas of the home. Desirable great room home plan features 5 bedrooms, 4 baths, downstairs office and plus an upstairs office/den with wine fridge bar, and an expansive flex bonus room upstairs, with charming interior courtyard for entertaining. Enjoy seamless indoor/outdoor AZ living with a telescoping glass door from great room to picture perfect resort style backyard with scenic mountain backdrop, featuring oversized grassy area plus garden planters, outdoor covered ramada adjacent to generous heated pool and spa, and linear firepit, built-in BBQ with seating, covered patio, with ample hardscape space for seating/lounging. Stunning designer finishes including oak hardwood flooring throughout the home, light and bright oversized eat-in kitchen island, chic statement vent over gas range overlooking backyard, refined marble and tile selections throughout for a polished sophisticated appeal. Breathtaking views from second level primary suite with sitting area overlooking majestic McDowell Mountains, enjoy generous wardrobe, and spa like bath with freestanding bubble soaker tub. Convenient utility room with hall tree, three car tandem garage with cooling unit, plus spacious additional paved parking for four more cars. Quaint neighborhood park nearby. This showstopper is a unique opportunity in the coveted DC Ranch Haciendas.
4514 E Pebble Ridge Road
Paradise Valley, AZ 85253
$3,600,000
5
Beds
4.5
Baths
5,190
SqFt
Status
Active
MLS #
6703586
Property Type
Single Family Residence
Price Type
--
Love Paradise Valley but want an updated home? Remodeled down to the studs in 2019/2020, this home offers updated kitchen, baths, flooring, and even new plumbing. Views of Camelback Mountain are visible the minute you enter, and from the entire rear of the property, inside and out. Warm wood floors welcome you into the home and a cozy bar is set in the corner of the living room with brass shelving supports, and both verage and dual zone wine coolers. Beamed Ceilings give a nod to the history of this contemporary style home, allowing any style of décor to blend. The first of three fireplaces graces the living room, which is open to the dining area. A very spacious family room is just steps away with it's own fireplace. With an opening to the Living/Dining areas, this floorplan is wonderful for entertaining. The Kitchen has a fresh feel with white cabinetry, Quartz countertops, with contrasting black and brass elements. A central island, induction Bosch rangetop, Sub Zero Refrigerator and Ovens, Microwave drawer and walk in Pantry provide an abundance of storage and top of the line appliances for culinary adventures. One of five bedrooms is just off the Living Room and would be a great space for an office. An adjacent bath with shower allows it be whatever works for you. The powder room sports a sophisticated feel with black millwork accented walls, black and white marble Hexagon floor tile, and brass accents. The powder room is also accessible from the rear open space of the property. The Primary Suite is a dream. Large enough to include a separate seating area, customized closets, and patio access, this room is secluded from the other bedrooms. The Primary Bath is well designed with marble and porcelain tile accents, a large walk-in shower, separate vanities and a soaking tub and fireplace. The remaining three bedrooms are spacious, the largest with an en-suite bath. Another bath is shared by the last two bedrooms. One of the family's favorite spots is the large media room. There is more than enough space for this to be a playroom and study area, in addition to the media area. The laundry is large, with extra cabinetry and a drop zone just off the 2 car garage. Outside, a raised patio keeps the views available, and overlooks the pool area. A large low maintenance turf lawn leads to the sports court. The batting cage in this area does not convey with the home.
2457 E Glenhaven Drive
Phoenix, AZ 85048
$3,595,000
4
Beds
4
Baths
3,749
SqFt
Status
Active
MLS #
6619546
Property Type
Single Family Residence
Price Type
--
A NEW TO BE BUILT SPEC HOME ON ONE OF THE MOST AMAZING LOTS AVAILABLE IN AHWATUKEE!! LOCATED IN FOOTHILLS MOUNTAIN RANCH ESTATES!! ALMOST 4000 SQUARE FEET ON OVER 5 ACRE HILLSIDE LOT WITH STUNNING MOUNTAIN VIEWS FROM EVERY DIRECTION*YOUR DREAM CUSTOM ESTATE AWAITS*THERE IS NOT ANOTHER PIECE OF LAND IN AHWATUKEE THAT OFFERS THIS MANY ACRES*LOCATED AT THE END OF A CUL-DE-SAC*BE THE KING OF THE HILL WITH VIEWS ALL THE WAY TO FOUR PEAKS*DO NOT MISS THIS AMAZING TO BE BUILT SPEC HOME IN AN AMAZING LOCATION!!!!
24724 N 119th Place
Scottsdale, AZ 85255
$3,595,000
4
Beds
4
Baths
3,800
SqFt
Status
Active
MLS #
6685315
Property Type
Single Family Residence
Price Type
--
Spectacular 360* Mountain & Valley VIEWS! TRUE GOLFER'S PARADISE! Newly UPDATED CONTEMPORARY ESTATE in the Heart of Troon In North Scottsdale. Incredible location...Close to Shopping, Dining, fabulous hiking trails + so much more! Breathtaking yard with Putting green, large sparkling pool, lounging areas for sun / shade. Boasting Soaring Ceilings, this light & bright home with a ''sunny'' disposition has been thoughtfully designed sparing no expense.
10040 E Happy Valley Road Unit 417
Scottsdale, AZ 85255
$3,595,000
4
Beds
5.5
Baths
6,370
SqFt
Status
Active
MLS #
6711268
Property Type
Single Family Residence
Price Type
--
IMMEDIATE GOLF MEMBERSHIP AT CLOSE OF ESCROW! Situated on over 1.3 acres in a privates cul-de-sac lot that offers the ultimate in privacy! Gated courtyard entry surrounded by the beautiful flora of the Sonoran Desert. Great room floorplan, private master suite, 3 guest ensuite guest bedrooms, office, upstairs library/hobby room + bonus room with sweeping city light & mountain views. 24x24 travertine floors, wood beams, stacked stone & more. Gourmet kitchen with new top-of-the-line appliances, designed for the most discerning chef, features taj mahal quartzite countertops, knotty alder cabinets and adjacent breakfast room with fireplace. Private resort like backyard with beautiful mountain views as a backdrop, pebble tec pool and spa (see ''more'' remarks)... ... cooking station with new Napoleon gas grill, private side yard perfect for a garden or dog run. Exquisite landscape design by Trademark Landscaping. Desert Highlands, ranked as a top 100 club by Platinum Clubs of the World, offers world class amenities include a Jack Nicklaus championship golf course, 18-hole putting course, award winning clubhouse featuring Jack's Gastrupub and Jack's Backyard, Highlands Racquet Club offering grass and clay tennis courts + pickleball courts, state of the art fitness center & more. A $150,000 membership fee is due from buyer at close of escrow.