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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6516 E Maverick Road
Paradise Valley, AZ 85253
$3,675,000
4
Beds
4.5
Baths
4,225
SqFt
Status
Active
MLS #
6758994
Property Type
Single Family Residence
Price Type
--
Opportunity Waiting... Exceptional location in Camelback CC. *****PV approval pending for remodeling/addition permit - plus guest house***Permit expected by end Sept 2024*** Permit included with purchase*** Plans, renderings, etc. available upon request. Current home is very livable. Home was an excellent rental.
3800 E Lincoln Drive Unit 57
Phoenix, AZ 85018
$3,650,000
5
Beds
7
Baths
8,032
SqFt
Status
Active Under Contract
MLS #
6780781
Property Type
Single Family Residence
Price Type
--
Exquisitely custom built Mediterranean hillside home nestled at the top of guard gated ''Estate Antigua'' in the Phoenix Mountain Preserve with unparalleled panoramic mountain & city light views! Cut into the mountain rock, and 1 of only 4 custom homes, this home features the highest elevation offering million dollar unobstructed majestic views of the Phoenix Mountain Preserve behind, to the sweeping valley views including uptown & downtown Phoenix in front. Located in the foothills next to Paradise Valley, you will feel like you've escaped to Sedona while being only minutes away from Scottsdale Fashion Square Mall, Old Town, and the Biltmore area... where you'll find world class shopping and countless restaurants of all gourmet levels. Whether you prefer a morning cup of coffee while coffee watching the sunrise over the mountains or an ice tea relaxing in the infinity edge spool at sunset, you'll find that you can't wait to get home after a long day at work. There is only one concern - once you are home, you'll never want to leave!
39336 N Old Stage Road
Cave Creek, AZ 85331
$3,650,000
4
Beds
4.5
Baths
4,503
SqFt
Status
Active
MLS #
6522951
Property Type
Single Family Residence
Price Type
--
'Pre-Construction' Spectacular Hillside Custom Contemporary, located in The Village at Go John Canyon. MODEL HOME UNDER CONSTRUCTION NEXT DOOR ON PARCEL 5. No HOA, but thoughtful Design Guidelines apply. Nestled into the upslope of Go John Mountain, this 4503 sq. ft. Desert Contemporary will feature over 3200 sq. ft. main level living and 1300 sq. ft. lower lever attached Guest Home. Fabulous Great Room, Temp controlled glass enclosed wine room, luxurious Owner's Suite, an elevator and the most incredible expansive views. Exceptional luxury for multi-generational living or generate income with separate lower-level guest Cottage. Go John Canyon by Del Rey Development is a hidden and secluded enclave of premium custom homes. Each estate sized parcel is 4.3 acres and borders the Desert Foothills Land Trust with direct, private trail access to Cave Creek Regional Park. This luxury home also includes a custom, heated pool/spa
5231 E Kaniksu Street
Apache Junction, AZ 85119
$3,650,000
3
Beds
2
Baths
2,473
SqFt
Status
Active
MLS #
6677803
Property Type
Single Family Residence
Price Type
--
Welcome to a one-of-a-kind opportunity to own a magnificent adobe block custom home nestled on 11.2 acres of picturesque land nestled at the base of the Superstition Mountains. Boasting panoramic views of the majestic Superstition Mountains, this property offers a rare blend of luxury living, income potential, and endless outdoor adventure. Step into a world of rustic elegance with this meticulously crafted adobe block home, where every detail reflects the charm and character of the Southwest. From the exposed wooden beams to the handcrafted finishes, this home exudes warmth and authenticity at every turn. Take advantage of the property's income-producing potential with a fully equipped horse stable and RV camping facilities.
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.
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!
9422 E Diamond Rim Drive
Scottsdale, AZ 85255
$3,650,000
4
Beds
4
Baths
3,776
SqFt
Status
Active
MLS #
6783778
Property Type
Single Family Residence
Price Type
--
Beautifully updated Pima Acres residence on a 1.69-acre lot that affords you with limitless possibilities to create your dream property. This stunning custom-designed home incorporates a welcoming air into the practical entertaining spaces. The gourmet kitchen features quartz countertops, Subzero, Wolf, and Miele appliances, including an induction cooktop. Kitchen island seats 5, with additional in-kitchen dining and a separate dining area. The large principal suite encompasses a gorgeous fireplace, walk-in closet, large tub, spacious shower, quartz countertops, dual sinks, and an adjacent outdoor shower. All four bedrooms in this home are en-suite. The kitchen opens to the comfortable family room with a fireplace and there is a fantastic secondary great room (or a fourth bedroom)... with a built-in wet bar, wine cooler, fireplace, and offers city light views. Skylights brighten the home, and wood flooring adds a touch of warm elegance. Custom pavers enhance the driveway, front entry, back patio, and side walkways. The expansive resort-style backyard includes stunning mountain views, built-in grill, heated pool with spa and water features, 2 outdoor showers, built-in wood-burning fire pit, and professional landscaping featuring an orchard with citrus and fruiting trees. Privacy is ensured by a NAOS to the east, a 15-foot setback on the vacant lot to the west, and an enclosed backyard with an impressive block fence. Other incredible features include a cozy front patio with a fireplace, RV gate, and a three-car garage with epoxy flooring and custom cabinets. This incredible home is located in Pima Acres, which has minimal HOA fees, and is conveniently close to the 101, golf, extensive hiking trails, restaurants, shopping, and more. Schedule your private tour of this exceptional home today.
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. Primary bathroom has steam shower. 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.
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.
10050 E Jopeda Lane
Scottsdale, AZ 85255
$3,599,000
4
Beds
4.5
Baths
5,040
SqFt
Status
Active
MLS #
6759938
Property Type
Single Family Residence
Price Type
--
Skyfire is a one-of-a-kind architectural gem nestled on a private 2.7 acre North/South cul-de-sac in Scottsdale's McDowell Mountain foothills, designed by renowned architect Vernon Swaback as his personal residence. All main systems have been upgraded, plus new systems including solar power, EV chargers, home automation, upgraded security system, and commercial-grade Wi-Fi network. Mid-century-inspired retreat offers clean lines, vaulted exposed wood ceilings, polished concrete floors, built-in cabinetry, cove and gallery lighting, blending organic design with modern luxury. Main home features three bed, four bath, Valley Room and spectacular fireplace, executive office with views, gourmet kitchen, media room, and entertainment loft. Private guest house offers a full kitchen and bath, fireplace and outdoor patio. This distinguished estate sits on an elevated lot with multiple outdoor entertainment spaces offering a tranquil infinity-edge pool and spa and expansive, unobstructed city and mountain views. Four car garage with motor court and extra storage is perfect for car enthusiast and entertainer. Minutes from world-class dining, hiking, golf, and Scottsdale Executive Airport, Skyfire is the ultimate sanctuary, combining sustainable luxury with architectural provenance.
10540 E Larkspur Drive
Scottsdale, AZ 85259
$3,595,000
5
Beds
4
Baths
5,279
SqFt
Status
Active
MLS #
6782200
Property Type
Single Family Residence
Price Type
--
Situated atop an elevated lot, refined soft contemporary finishes abound in this Cactus Corridor masterpiece. Elements of the original 1980s open concept give this home a special character the moment you step foot through the twelve foot front doors into the welcoming foyer. Tasteful light wood floors take you to the massive living room with soaring ceilings, multiple exits to the backyard and fireplace. The double island kitchen is a chef's dream with built-in refrigerators and a coffee bar. The dining area is fit for the grandest of gatherings and is highlighted by additional seating areas and/or play areas beyond. Outside, the backyard has all of the perks, with a massive diving pool, sport court, kitchen, fire pit and ample room to entertain.