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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8787 E Whispering Wind Drive
Scottsdale, AZ 85255
$3,100,000
4
Beds
3.5
Baths
4,327
SqFt
Status
Active
MLS #
6778059
Property Type
Single Family Residence
Price Type
--
As is. This custom home is a desert sanctuary with all the conveniences of the city. Extensively renovated in 2020, the home's 21-foot windows show breathtaking landscapes in all directions. The great room flaunts the unique architecture, where the steel-accented fireplace is backed by walls of glass overlooking the Sonoran-style yard. An oversized pool, cabana, outdoor kitchen, and gas fireplace all beg to be enjoyed with a glass of wine and good friends. The interior maintains a light, minimal aesthetic throughout. Escape life's realities in the game room with a custom cloud ceiling, or relax in the entertainment room with a built-in bar. This is an entertainer's dream home that blends modern design with natural elements to match the stunning beauty of North Scottsdale.
13502 E Jomax Road
Scottsdale, AZ 85262
$3,100,000
4
Beds
2.5
Baths
2,729
SqFt
Status
Active
MLS #
6782257
Property Type
Single Family Residence
Price Type
--
Experience unparalleled panoramic views and endless potential on this stunning 15.59 acre estate, which includes 4 separate parcels that convey with the sale. The future owner has endless opportunities to develop these parcels, whether for investment or for creating the ideal setup for mountain bike trails, horses and more. Immaculately landscaped grounds and expansive covered patios provide the perfect vantage point to enjoy Arizona's stunning sunsets and breathtaking mountain views. The property also features a spacious, air-conditioned 3,080 sq. ft. garage, ideal for car enthusiasts, a workshop, or additional storage. Inside the home, you'll find charming details, including Mexican tile flooring, high ceilings, neutral paint, plantation shutters, & modern light fixtures The living room's fireplace is perfect for cozy evenings, and the kitchen boasts a breakfast room, wood cabinetry, ample counter space, an island with breakfast bar, tile backsplash, and built-in appliances. Enjoy mountain and desert views from every window! Host fun gatherings in the backyard comprised of a covered patio, built-in BBQ, and two firepits. Located in the highly sought-after North Scottsdale area, this property offers the perfect blend of seclusion and convenience. You're just 15 minutes from premier shopping & dining. Outdoor enthusiasts will love the proximity to Bartlett Lake, mountain biking at WildCat Pass, and numerous golf courses, hiking and biking trails. Experience the best of Scottsdale living, with its beautiful natural surroundings, endless outdoor activities, and upscale lifestyle. Need more? The property can EASILY be converted into FIVE separate lots, come see for yourself!
12943 E Corrine Drive
Scottsdale, AZ 85259
$3,100,000
5
Beds
5.5
Baths
6,912
SqFt
Status
Active
MLS #
6765337
Property Type
Single Family Residence
Price Type
--
Discover the perfect blend of seclusion, luxury, and breathtaking mountain vistas in this spectacular custom-built home, nestled within the prestigious gated community of The Canyons at Scottsdale Mountain. This contemporary masterpiece radiates elegance and sophistication, securely positioned behind two gates, including a manned entry for ultimate peace of mind. Enjoy an enviable location just moments from top-ranked Basis and Desert Mountain Schools, the renowned Mayo Clinic, and only 15 minutes from the vibrant shopping and dining scene at Kierland. The city light views from this exceptional home create an enchanting backdrop, epitomizing convenience without sacrificing luxury. The expansive layout is designed for both relaxation and entertainment, featuring two sumptuous primary suites, a state-of-the-art theater room, and a versatile bonus/exercise room. Outdoor living is enhanced by a stunning negative edge diving pool, a luxurious spa and firepit, providing the perfect setting to soak in the tranquil surroundings. Recent upgrades, such as sleek epoxy flooring in the garage and elegant engineered wood flooring on the upper level, further elevate this residence. With a laundry room conveniently located both upstairs and downstairs, functionality and ease are paramount in this exceptional home. Experience the unparalleled lifestyle that awaits in this extraordinary property.
8366 E Old Paint Trail
Scottsdale, AZ 85266
$3,099,995
4
Beds
4.5
Baths
3,236
SqFt
Status
Active
MLS #
6537091
Property Type
Single Family Residence
Price Type
--
Days on market include build time****MOVE IN READY HOME New Construction Home in the gated community of Reserve at Black Mountain. Gourmet kitchen includes maple cabinets and designer appliances including a Wolf 48'' Rangetop with Griddle, Pro Hood, Micro Drawer, Pro Double Ovens and Cove Dishwasher and overlooks the expansive main living area with soaring 17' ceilings and a 24' Multi-Stacking Door with pocket, opens on to a large covered patio. This home is an entertainers delight. Secluded office or 4th bedroom at the rear of the home with access to the backyard. Full landscape and pool are included in this price.
4519 E Meadowview Drive
Gilbert, AZ 85298
$3,099,000
6
Beds
5.5
Baths
5,137
SqFt
Status
Active
MLS #
6784434
Property Type
Single Family Residence
Price Type
--
Experience unparalleled luxury living on one of the largest lots in Seville Country Club, nestled behind the private gates of Estados/Circle G. This spectacular 1.33-acre estate offers an array of premium amenities, creating your personal paradise. Imagine coming home to an outdoor living room with a cozy fireplace and fire table, a fully equipped outdoor kitchen, a covered ramada with an additional fireplace, and a sparkling pool with a built-in spa and sheer descent waterfalls. Enjoy your own poolside casita with roll-up garage doors, a pitch-and-putt golf course, a sport court with pickleball, and an RV garage with a private gym. The property also features a second casita in the front courtyard, and there's still plenty of room to customize with additional features like... another garage, playground, office, or workshop. Step inside to a stunningly remodeled interior, thoughtfully designed for both style and function. The heart of the home is the bright, open kitchen, featuring modern finishes, walls of glass that open to create a seamless indoor/outdoor living experience, and breathtaking views. Barn doors provide versatility, while the split floor plan ensures privacy. The primary suite occupies one wing, with three spacious secondary bedrooms on the other. This home truly excels in versatility with two casitas: Casita #1: Located in the front courtyard with a private entrance. Casita #2: Situated poolside, featuring two garage doors, a separate patio, a private kitchen, a full bathroom, and endless possibilities for use. The property is perfectly tailored for entertaining, with multiple spaces to host gatherings, celebrate holidays, or simply relax with loved ones. The private office overlooks the gated front courtyard, and the estate offers two driveways: a circular front driveway and an oversized side drive. One of only a few properties of this size in the entire 3,600-home community, this estate is located just a short golf cart ride from the Southeast Valley's most prestigious amenities at Seville Golf & Country Club. Members enjoy an 18-hole golf course, health club, two restaurants, four pools, two-story water slides, tennis and pickleball courts, basketball courts, bocce ball, a preschool, a hair salon, and so much more. Currently listed below appraised value, this is your chance to create the life you've always dreamed of in one of the most sought-after communities in the Southeast Valley. Don't miss this rare opportunity to own a one-of-a-kind estate in Seville Country Club!
28011 N 109th Way
Scottsdale, AZ 85262
$3,095,000
4
Beds
4.5
Baths
3,730
SqFt
Status
Active
MLS #
6655624
Property Type
Single Family Residence
Price Type
--
Serene is brand new gated enclave of 21 cutting edge single level contemporary homes designed by Swayback Architects & Planners and built by Sonora West Development. Each Serene home brings a new definition to the ''Lock and Leave'' lifestyle with open Great Room floor plans perfect for both entertaining and everyday living. There are four different models to choose from with lavish interior finishes created by renown interior designers Est Est. This Model A has a 3 car garage and available only on lots, 7, 11, & 18 (Model A with 2 car garage only on lots 2, 4, 6 & 16). Base price shown does include lot premium and includes a 25K pool and a 25k landscape allowance, Subzero & Wolf Appliances & BBQ. Backing to the North side of Pinnacle Peak Mountain in N Scottsdale Serene..
4743 E Arcadia Lane
Phoenix, AZ 85018
$3,095,000
4
Beds
4
Baths
3,488
SqFt
Status
Active
MLS #
6779820
Property Type
Single Family Residence
Price Type
--
This sprawling Arcadia ranch is just lovely. The floor plan flows perfectly and includes a large island kitchen with plenty of space to prep, serve and entertain, a beautiful formal dining room, a fantastic great room and family room both overflowing with natural sunlight, private office, super cool Arizona room, and even a guest house. This home is perfect for a family of any size with four large bedrooms and four bathrooms, and the layout makes perfect use of the space making the home seem much larger than the square footage suggests. This immaculate residence sits on a huge corner lot with magnificent mountain views. Surrounded by multi-million dollars mansions, this is a phenomenal opportunity!
9290 E Thompson Peak Parkway Unit 430
Scottsdale, AZ 85255
$3,075,000
4
Beds
4.5
Baths
4,722
SqFt
Status
Active
MLS #
6788383
Property Type
Single Family Residence
Price Type
--
Amazing from the minute you enter the private courtyard. This impeccable 4 bedrooms, 4.5 bath, 4 car garage home is pristine. Located behind the gates of the prestigious, guard gated DC Ranch Country Club. This amazing estate sits on over an acre, backs the wash and is surrounded by natural desert vegetation with mountain views. Grand entry opens to spacious, elegant formal dining room and living room with wood beams, floor to celling windows/doors looking to the lovely backyard. Kitchen boasts a large island with seating for 8, Viking stove, double dishwashers, double ovens, appliance garage, built-in garbage and small desk. Expansive master suite with fireplace, double doors to backyard and quaint sitting area. Community Center just fully remodeled. Expanded fitness center with state of the art equipment, dedicated fitness studio, enhanced gathering spaces, 4 pickleball court, and 1/4 mile loop. Such a wonderful community to live in with endless activities. Community center slated for grand opening December 7, 2024.
37440 N 104th Place
Scottsdale, AZ 85262
$3,000,000
4
Beds
4.5
Baths
4,493
SqFt
Status
Active
MLS #
6773978
Property Type
Single Family Residence
Price Type
--
This is the perfect sized home located in the private golf community of Mirabel. The home has many updates and provides the seamless indoor / outdoor desert lifestyle by way of the wall of pocket doors.. The great room allows the perfect setting for hanging with your family and friends. The kitchen is spacious and includes a giant walk in pantry. Just adjacent to the kitchen is breakfast room and an entrance to the outside for the perfect outdoor kitchen and entertainment area. Perfect for a pool table or ping pong. Adjoining the great room is the family room with ample wall space for the largest of TV's. The primary suite has access to the pool and spa and has an opulent shower and tub. The closet is spacious with quality shelving. All guest rooms are ensuite and spacious. The office / workout room opens to the front court yard to enhance your workout experience. Across the courtyard is the attached casita with it's own entrance. It is fully equipped for your guests. The wine storage is achieved with thoughtfully placed wine coolers under the kitchen island. You'll be spending a good amount of your time in the recently remodeled back patio. It has new travertine pavers, new pool and spa, covered, lighted and heated gazebo with a TV to watch the games! This is truly the Arizona lifestyle. Waitlists exist for Social and Golf Memberships.
14256 N Territory Trail
Fountain Hills, AZ 85268
$3,000,000
4
Beds
5.5
Baths
4,734
SqFt
Status
Active
MLS #
6758592
Property Type
Single Family Residence
Price Type
--
Discover this spectacular contemporary home in Adero Canyon, perfectly positioned against a serene preserve on a quiet cul-de-sac. If you seek privacy, stunning views, and a tranquil setting, this property is an absolute must-see. Access Adero Canyon through a private gate, which opens to a select enclave of 31 semi-custom luxury homes. This exquisite residence features 4 large ensuite bedrooms, 2 private offices one with private entry, a bonus/movie room, 5.5 bathrooms, and an oversized 4-car garage. The main living spaces and the master suite are located upstairs to take full advantage of the 360-degree mountain views. Upon entry, you'll be welcomed by a spacious great room that seamlessly flows into the gourmet kitchen. This culinary haven boasts a 48-inch Wolf range & hood....cont'd A 42 Sub Zero French door Refrigerator, double Wolf wall ovens, a large island, and a walk-in pantry. The open great room design extends to a generous outdoor balcony, ideal for entertaining. The primary suite is a private retreat, featuring an upgraded body shower sprayer, a separate bath tub, and a large, beautifully finished closet. A separate walkway leads to one of the private offices, offering extra quiet and privacy away from the main house. Downstairs, you'll find 3 additional large en suite bedrooms plus a large movie/games room with pocket doors that open to a private outdoor oasis. This outdoor paradise includes a heated oversized pool with a swim-up sunken bar, a spa, a built-in covered outdoor kitchen and bar area, a full pool bathroom, a putting green, and a grassy area for entertainment. Enjoy the spectacular outdoor spaces and the breathtaking 360-degree mountain views along with the serene preserve.
25572 N 113th Way
Scottsdale, AZ 85255
$3,000,000
4
Beds
6
Baths
5,593
SqFt
Status
Active
MLS #
6726576
Property Type
Single Family Residence
Price Type
--
Spectacular luxury home located in coveted guard gated Troon Village, w/ dramatic drive-up appeal & picturesque Sonoran boulder setting, boasts panoramic mountain views. Architectural masterpiece w/ fine details & thoughtful home design, this great room split bedroom plan with exquisite indoor outdoor AZ living is an entertainer's dream.Luxurious kitchen with expansive eat-in island, Wolf gas range & electric ovens, SubZero fridge/freezer, opens to inviting family room with charming stone fireplace, slate floors, rich wood planked ceiling accented with stunning beams, opens to outdoor living with retractable glass & screen slider & dine in style with Four Peaks views & seated wet bar with access to downstairs tasting room and 500 bottle temp-controlled wine cellar. Executive office with custom built-ins, Owner's retreat with flex exercise/office opens to private patio and backyard outdoor living space and pool/spa. Ideal ensuite secondary bedrooms with private entries and expansive wrap around balcony with fireplace. Downstairs hub with an impressive in-home theatre with wet bar plus flex room that could serve as a bunk room/office/exercise room with half bath. Spacious 1200 SF air-conditioned extended three car garage is fit for a king with half bath, motorcycle lift ,work benches, air compressor lines and easy access elevator lift to main level. G5 automated system, owned solar panels, 5 new AC units, pool equipment and appliances. A sanctuary in the Sonoran desert.
23832 N 112th Place
Scottsdale, AZ 85255
$3,000,000
4
Beds
4.5
Baths
4,915
SqFt
Status
Active
MLS #
6744119
Property Type
Single Family Residence
Price Type
--
Discover the epitome of luxury living w/this stunning custom Santa Fe home, perfectly positioned on a sprawling 1.25-acre lot in scenic Troon Ridge Estates. Embrace unparalleled privacy and serene mountain, golf course & sunset views from this exquisite property. The main residence seamlessly blends classic Southwestern charm w/modern sophistication. Inside, you'll find warm wood floors & stunning ceilings adorned w/rich wooden beams. Latilla wood shutters add an authentic touch while allowing natural light to flood the space. The updated interiors include a walk-in wine cellar w/a tasting room, perfect for wine enthusiasts and entertaining guests. The reimagined upstairs primary suite offers a haven of tranquility. This closet is designed as a multifunctional space... This closet is designed as a multifunctional space serving also as a sitting room/office and the spa-quality bathroom creates a serene retreat. Step outside to your private oasis, featuring a backyard designed for relaxation and entertainment with pool, fireplace, outdoor kitchen and acoustic amphitheater. Adjacent to the main home is a newly remodeled detached guest house, offering privacy and comfort for visitors. This charming addition complements the main residence with its own unique blend of style and modern updates.