NAHB: Builder Sentiment Improves in August

Buyer Beware: 4 Common Problems Home Sellers Try to HideAccording 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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8867 N 63rd Place Paradise Valley, AZ 85253

$3,325,000 - 4Br/4Ba -  for Sale in Camelback Country Estates Unit 5, Paradise Valley
Open House
$3,325,000
4 Beds
4 Baths
6,298 SqFt
Status Active
MLS # 6702331
Property Type Single Family Residence
Price Type --
Fabulous location in Paradise Valley! Great floor plan with primary suite downstairs and 3 split secondary bedrooms, Primary suite has a bonus room for additional closet, nursery, office or studio. Upstairs is a large bonus room for media, playroom, office or hang out room. Spacious main living space has a stunning kitchen with dining and large family room area. Outside is a haven for entertaining with both gas and wood grills, dining gazebo, pool with waterfall, hot tub, bocce ball court, horseshoes and a great play area. Five car garage is split into 3 attached at the main house and an additional detached 2 car garage. Make this home yours!

Forest Road 193 Street Flagstaff, AZ 86001

$3,300,000
5 Beds
3 Baths
1,748 SqFt
Status Active
MLS # 6706061
Property Type Single Family Residence
Price Type --
NEVER BEFORE LISTED. EXPERIENCE THIS 43-ACRE LEGACY PROPERTY BORDERED BY THE NATIONAL FOREST ON THREE SIDES. THIS PROPERTY OFFERS THE VERY BEST VIEWS FLAGSTAFF HAS TO OFFER, AS WELL AS THE IDEAL TOPOGRAPHY FOR A RANCH OR LARGE FAMILY COMPOUND WITH TONS OF FLAT MEADOWS. EXISTING STRUCTURES INCLUDE A NICE 5 BEDROOM 3 BATH HOME AND CHAPEL. THE PROPERTY HAS A WELL, 3000 GALLON FRESH WATER STORAGE TANK, NEW SOLAR POWER SYSTEM, AND SO MUCH MORE. CALL TODAY FOR MORE INFORMATION.

8575 E Sharon Drive Scottsdale, AZ 85260

$3,300,000
4 Beds
4.5 Baths
4,299 SqFt
Status Active
MLS # 6771956
Property Type Single Family Residence
Price Type --
Step into this desert escape with mountain views positioned on a corner lot with a large circular drive. This split open floor plan features 4+ bedrooms, 4.5 baths. As you walk in you are welcomed by vaulted ceilings and picturesque views of the resort-style backyard. Large designer kitchen featuring walk in pantry opens to the family room which is great for all to gather. Spectacular outdoor spaces including sport court, putting green, pool and hot tub cater to all ages. Seller spared no expense including new air conditioning units and solar panels.

10723 E Tamarisk Way Scottsdale, AZ 85262

$3,300,000
3 Beds
4 Baths
3,452 SqFt
Status Active Under Contract
MLS # 6761453
Property Type Single Family Residence
Price Type --
Enjoy magnificent views from this premier lot in the desirable community of Cochise Ridge. The southern outdoor living area is ideally oriented to enjoy panoramic sights of Cochise golf course, mountains, sunsets, and city lights. This property has been thoroughly reimagined under the watchful eyes of designer Laura Weaver and Zobec Construction. The interior layout was redefined to embrace today's lifestyle. Enjoy a large gourmet kitchen with Wolf/Sub Zero appliances centrally located to entertain your guests. The three bedroom redesign also features a home office and a coffee/wine room as additional living spaces. There are two primary suites in the main house and a separate guest casita. Also featuring a fully renovated pool and spa. Rare upgradable DM Lifestyle Membership available.

27974 N 96th Place Scottsdale, AZ 85262

$3,300,000
4 Beds
3.5 Baths
3,948 SqFt
Status Active
MLS # 6711953
Property Type Single Family Residence
Price Type --
ESTANCIA GOLF MEMBERSHIP AVAILABLE SUBJECT TO BOARD APPROVAL. Single-level home on a 1.3 acre lot with south-facing views of Pinnacle Peak from the great room and master bedroom. This custom home has an open floor plan with large kitchen that flows seamlessly to the living and dining areas. Interior features include stone flooring, wood-beamed ceilings, custom cabinetry, stainless steel kitchen appliances, stone fireplace surrounds, 700-bottle wine room & adjacent wet bar. Exterior living area offers a large covered patio with TV area, gas fireplace, heated spa, built-in BBQ station, many mature citrus trees, and a rooftop deck plumbed for a bar with stunning panoramic views. Large solar panel system is owned. Oversized 3-car garage includes an electric vehicle charger. With all the features, views and Golf Membership... this home will sell fast!

10422 E Mark Lane Scottsdale, AZ 85262

$3,300,000 - 3Br/4Ba -  for Sale in Pinnacle Canyon At Troon North Unit 1, Scottsdale
Open House
$3,300,000
3 Beds
3.5 Baths
4,133 SqFt
Status Active
MLS # 6769672
Property Type Single Family Residence
Price Type --
This stunningly remodeled Golf Course view property in gated Pinnacle Canyon, Troon North, offers an unparalleled living experience. Situated on the 10th hole of the prestigious Monument Golf Course, the home enjoys lush green views framed by breathtaking natural landmarks such as Stonedge Boulders, Goldie Brown Butte, Cindercone Mountain, the Continental Mountains, and Skull Mesa to the north. City lights and sunsets to the west, coupled with a perfect view of Pinnacle Peak from the front entry, complete the picturesque setting. Remodeled to perfection in 2022 by a renowned luxury builder, this home seamlessly blends modern elegance with functionality. The kitchen, a chef's dream, has been thoughtfully redesigned to optimize space and style. It features top-of-the-line appliances, including separate Subzero refrigerator, freezer, and wine cooler units, alongside a Wolf 6-burner gas range with griddle, double convection ovens, microwave, and a Cove dishwasher. A 72 custom zinc range hood serves as the focal point, perfectly complemented by the oversized Quartzite Odyssey Stone island with a Fire Clay sink, ideal for both meal prep and casual dining. The Great Room welcomes guests through custom iron doors and features dramatic 14-foot ceilings and telescoping sliding glass doors that disappear to create a seamless indoor-outdoor living experience. The fireplace, a centerpiece of the room, has been enhanced with 97 of imported 18x36 tile, adding a touch of sophistication. Adjacent to the Great Room, the large dining area and an inviting piano or conversation nook near the entry create a warm and welcoming ambiance. The spacious Primary Suite offers 12-foot ceilings, a cozy sitting area with expansive mountain views, and sliding glass doors leading to the pool and spa area. The luxurious Primary Bathroom is adorned with 18x36 stone flooring, a large walk-in shower with rain head and hand-held sprayer, floor-to-ceiling stone finishes, natural stone counters, and cantilevered cabinetry. A stand-alone stone bathtub, designer fixtures, custom lighting, and 8-foot arched solid wood doors complete the space. The Primary closet provides ample storage with extensive wardrobe cabinetry featuring seeded glass inserts and room for additional seating. The office, located off a recessed entryway, is framed by custom iron doors and features a double soffit ceiling with modern recessed lighting, making it both functional and elegant. Each of the secondary bedroom ensuites boast walk-in showers with designer tile and fixtures, and lighted mirrors. The powder room makes a statement with bold custom wall coverings, stone counters, a cantilevered cabinet, a stone bowl sink, and a designer toilet, offering a unique and stylish touch. The utility room, strategically located with dual access from both the Primary Closet and the main hallway, maximizes convenience and functionality. The home's front elevation has been transformed into a sleek contemporary façade, enhanced by professionally designed landscaping featuring specimen saguaros and custom lighting. The expansive front patio is the perfect spot to take in the Pinnacle Peak views and greet guests. The oversized three-car garage, accessible through three separate bay doors, offers ample space and complements the clean, modern exterior design. This meticulously remodeled property in Troon North is the epitome of luxury living, combining contemporary finishes with outstanding natural views and an ideal open floor plan.

2751 E Pelican Court Gilbert, AZ 85297

$3,299,000
5 Beds
4.5 Baths
5,045 SqFt
Status Active
MLS # 6745579
Property Type Single Family Residence
Price Type --
Nestled in the prestigious Whitewing at Germann Estates, one of the valley's most exclusive neighborhoods, this award-winning Toll Brothers model home is ready to welcome its new owners! This exceptional residence showcases every imaginable upgrade, seamlessly blending modern architecture with a bright open concept. The interior features a perfect mix of rich, warm wood finishes, with sleek, elegant design and is equipped with entire smart home control system. Outside, the property boasts a stunning zero-edge pool with a Baja shelf and waterfall, a splash pad and in-ground trampoline, an outdoor kitchen and entertainment area, multiple fire pits and water features, and a separate guest quarters with full bath. Come experience a lifestyle you'll love - this home won't last long

37200 N Cave Creek Road Unit 1061 Scottsdale, AZ 85262

$3,299,000
4 Beds
4.5 Baths
3,169 SqFt
Status Active Under Contract
MLS # 6771853
Property Type Single Family Residence
Price Type --
Welcome to this stunning contemporary Camelot golf villa in the exclusive subdivision of SEVEN at Desert Mountain, where luxury meets the seductive beauty of the Sonoran Desert. This property is a golfer's dream, boasting membership to the ultra-prestigious Desert Mountain Golf Club. Nestled by the 12th fairway of the 7 Course, this exquisite home offers captivating views and privacy. As you step through the front door, the vastness of the great room invites you in, showcasing lush golf course vistas which are mirrored in the opulent patio space. Thanks to the innovative telescoping doors, transitioning from the grand interior to the sublime outdoors is seamless, epitomizing the Arizona indoor-outdoor living experience. Elegance resonates throughout the residence with hardwood floors and a host of tasteful upgrades. The gourmet kitchen is a chef's delight, featuring state-of-the-art WOLF appliances set against contemporary fixtures, and complemented by gorgeous quartzite countertops that is both stylish and functional. The villa bathes in natural daylight, creating an ambiance of warmth and welcome in every room. Tastefully decorated, the interior color palette is composed of neutral tones that exude sophistication, offering a serene canvas for personalization. Stepping outside, the resort-style patio is an entertainer's haven. Complete with a built-in barbecue, a heated spool, it's the perfect backdrop for enjoying the spectacular Arizona sunsets. This property isn't just a home; it offers a lifestyle encompassing luxury, comfort, and the rarified air of the exclusive golf community. With beautiful landscaping framing this architectural gem, every aspect of this villa has been curated to offer an unparalleled living experience. Don't miss the opportunity to own this slice of desert paradise, where every day feels like a vacation at a world-class resort. Furniture available under a separate agreement.

7155 E Navarro Way Scottsdale, AZ 85266

$3,299,000
4 Beds
4.5 Baths
5,084 SqFt
Status Active
MLS # 6742165
Property Type Single Family Residence
Price Type --
WOW! Just WOW! Nestled on a sprawling 1.882-acre cul-de-sac lot within the prestigious Turquesa Equestrian Estates, this majestic property offers a serene desert oasis. The residence greets visitors with a beautifully landscaped desert yard, enhanced by stone accents on the facade, a spacious 4-car garage, and extensive parking spaces. A large, inviting courtyard offers the perfect spot for enjoying morning coffee in tranquility. Step inside to discover a stunning interior adorned with wood floors and pre-wired surround sound, creating an ambiance of both luxury and comfort. The expansive living and dining area features a cozy fireplace and glass doors that seamlessly blend indoor and outdoor living... The bright great room is an ideal setting for creating cherished memories with loved ones. The sleek kitchen is a chef's dream, equipped with stainless steel appliances, dual wall ovens, granite counters, a mosaic tile backsplash, a walk-in pantry, and two large center islands. A dedicated room with built-in wine racks adds a touch of sophistication, perfect for the connoisseur. Retire to the rich main suite, which offers direct backyard access and a lavish bathroom complete with dual vanities, a standalone tub, a makeup vanity, and a spacious walk-in closet. Additional living spaces include a cozy den accessed through double doors, and two bonus rooms that can serve as a media center or additional bedrooms. Outside, the expansive backyard is a private paradise, featuring a covered patio, built-in BBQ, gazebo, refreshing spa, sparkling pool, lush grassy areas, and a captivating water feature, all set against a backdrop perfect for a variety of outdoor activities. This property is more than just a home, it's a lifestyle. Don't miss the opportunity to experience the grandeur for yourself!

4849 N Camelback Ridge Road Scottsdale, AZ 85251

$3,295,000
2 Beds
3 Baths
2,510 SqFt
Status Active
MLS # 6681495
Property Type Apartment
Price Type --
Tucked at the base of revered Camelback Mountain, Ascent is a new, private residential enclave adjacent to The Phoenician Resort - one of Arizona's premier luxury resort destination. This community incorporates the Sonoran Desert landscape directly into its design, at the most enviable location in Scottsdale. Ascent offer views overlooking the Valley & Camelback Mountain. Home designs feature contemporary architecture integrating warm, natural materials, expansive windows, and large outdoor patios. Thoughtfully designed by Nelsen Architects and Vallone Interior Design. Luxury finishes include exquisite Bulthaup Kitchens, Provenza wood floors, Sub Zero Wolf appliances & 10' ceilings.

5769 S Joshua Tree Lane Gilbert, AZ 85298

$3,295,000 - 4Br/5Ba -  for Sale in Terraza, Gilbert
Open House
$3,295,000
4 Beds
4.5 Baths
4,052 SqFt
Status Active
MLS # 6659453
Property Type Single Family Residence
Price Type --
60-90 Day Delivery! Stone Crest is Camelots latest offering in the SE Valley. Luxury and glamour is the standard in this beautiful contemporary model home featuring 4 en-suite bedrooms, 4 car garage and a Man Cave that offers a great spot for entertaining outdoors! With Camelot you know your home is built with love and passion, indoor/outdoor lifestyle in mind - where it's easy to unwind, explore, or throw an unforgettable party with the ones you love. Step into the future of luxury living with the high quality design and innovative architecture of Award winning Architect Robert Hidey.

5000 N Camelback Ridge Road Unit 107 Scottsdale, AZ 85251

$3,290,000
2 Beds
2.5 Baths
2,859 SqFt
Status Active
MLS # 6673780
Property Type Apartment
Price Type --
Simply amazing opportunity to be in by mid December 2024. Ascent at The Phoenician Mountainside is one of the best locations in the development. This ground level unit with outdoor patio backs to the iconic Camelback Mountain. Walk out your private patio to the Mountain Club with private pool/fitness center. The highest end finish package show cases this 2 bedroom, 3 bathroom plus den open floor plan.