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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11812 N 142nd Street Scottsdale, AZ 85259

$2,200,000

5 Beds

4.5 Baths

5,863 SqFt

Status Active

MLS # 6732175

Property Type Single Family Residence

Price Type --

Enchanting Hidden Hills home nestled amongst the McDowell Mountains with views of Camelback Mountain! Custom finishes throughout with new interior paint and carpet. Open floor plan..Great Room with Dining & Living Room ,wet Bar area that has a 300 bottle wine room. and your own Kegerator! Split floor plan ... MBR has its own wing with FP, sitting and patio areas. Bonus rooms include an Excercise area and furnished Media room. Ample parking and storage with a 4 car garage. Low maintenance back yard that is perfect for entertaining. Heated Pool with /waterfall, Spa,FP, Built in BBQ,Electric sun shades and artificial turf. Large laundry room with its own craft area! LOADS of Room to roam in this beauty......

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11802 N 74th Place Scottsdale, AZ 85260

$2,200,000

5 Beds

4.5 Baths

4,635 SqFt

Status Active Under Contract

MLS # 6714762

Property Type Single Family Residence

Price Type --

This is an incredible property, priced right and move-in ready. The home is rich with natural light that fills the large, open floor plan. ILocated in one of the best locations in Scottsdale near shopping, dining and businesses. This is an extra-large lot with the main house featuring 4 beds, 3 baths and a 3 car garage, an office den, and a master wing. The Guest House has a kitchen, living room and full-size bedroom with 2 additional rooms being used as study and gym. A large entertainer's dream backyard, with a covered patio, pool and a bar/outdoor grill ramada. RV gate and a sport court are some of the additional features that make this home a MUST see on your list in this price range! Bring you most particular buyers!

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333 W Bethany Home Road Phoenix, AZ 85013

Open House

$2,200,000

4 Beds

3.5 Baths

5,300 SqFt

Status Active

MLS # 6766329

Property Type Single Family Residence

Price Type --

Prime Location in the Heart of North Central Phoenix, surrounded by Multi-Million Dollar Homes this property is a luxury contemporary/classic living home nestled on a 1/2 acre lot. Completely remodeled featuring four bedroom 4 baths, play room, library room, den/office room and a four car garage. As you enter the home, you are greeted by an open and bright floor plan that leads to an open concept family room with a fireplace, a formal dining room and the gourmet kitchen which boasts custom stainless steel appliances, granite countertops, center-piece large island, and walk-in pantry. Two master suites, the big master suite is located on the second floor and it features a sitting area, custom made built-in TV and fireplace, a balcony, and a walk-in closet and a luxurious ensuite bath. The backyard features a pool with a water fountain, a spa, a large entertaining patio, and a shed. Conveniently located near the Uptown's Plaza eateries and shops featuring AJ's Fine Foods, the Uptown Farmers Market, the Murphy Bridle Path, and the Phoenix Mountain Preserve. Close to freeways I-51, I-17, and the airport.

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3841 E Elm Street Phoenix, AZ 85018

$2,199,900

4 Beds

4 Baths

3,102 SqFt

Status Active

MLS # 6770604

Property Type Single Family Residence

Price Type --

IYKNYK- Elm St - Prime corner lot with no Alley - this beautiful updated home with a touch of French cottage feel has a split floor plan. N/S facing you enter thru mature trees and front yard fire-pit, open living space allows for lots of entertaining. 4 bedrooms 3 bath in the main house with an attached casita that has its own entrance, garage and private patio. Detached office or workout room w A/C. Private backyard has built in BBQ, fire-pit, play pool/jacuzzi, shuffle board court. Professional Pictures coming

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3850 E Huber Street Unit 2 Mesa, AZ 85205

$2,199,900

5 Beds

5.5 Baths

4,722 SqFt

Status Active

MLS # 6688996

Property Type Single Family Residence

Price Type --

Brand new custom home by Victoria Homes. Located in a gated community, the home is adjacent to the community amenity area with a tennis/sport court & ramada. The home is farmhouse contemporary design with stone, siding and stucco for exterior accent details. Andersen windows throughout. The home is a great room & open kitchen design with a formal dining room opening to a front patio outdoor space. The large kitchen has gas appliances, huge paneled refrigerator, and bulter's pantry. The primary suite has his/hers closets and decorative tile in the bathroom. Each bedroom has its on in-suite bathroom and walk-in closets. a teen room offers a dedicated space for the kids to play and study. Engineered hardwood floors & decorative tile throughout. FULL landscape with a pool and spa!

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3525 S Kings Ranch Court Unit 4 Gold Canyon, AZ 85118

$2,199,621

4 Beds

4 Baths

4,049 SqFt

Status Active

MLS # 6667014

Property Type Single Family Residence

Price Type --

Discover the pinnacle of modern living in this stunning home, boasting over 7,100 square feet under roof. Each photograph captures the extraordinary lifestyle & amenities that await you, but it's what lies between the walls that truly sets this property apart. Designed for generations to enjoy, this home features a robust features & the quality craftsmanship is evident throughout, with 2x6 construction used in all walls, complemented by 5/8 drywall & advanced foam insulation. This solid design not only enhances soundproofing but also contributes to impressive energy efficiency That yielded a $250 utility bill in August. With a 400 Amp electrical service, & 20 Amps at every outlet you should never be in need of more. The 1750 Sq Ft 6 car garage is a hobbyist dream CLICK LINK FOR MORE INF Hobbyist Dream, with 9'6' garage doors 12' ceilings, recessed LED lighting, a 220 volt 50 Amp outlet for any electric car charger and 20 Amp outlets located about every 10 ft ensuring you have plenty of power for almost any type of equipment. This whole property is equipped with cutting-edge green features and technology, this home is designed for sustainable living without compromising on luxury. For more information about this exceptional build, please have your representative reach out to us. Experience the lifestyle you deserve in a home that will be cherished for generations to come!

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8535 E Dog Leg Drive Carefree, AZ 85377

$2,199,400

5 Beds

6 Baths

4,680 SqFt

Status Active

MLS # 6672260

Property Type Single Family Residence

Price Type --

This magnificent home was designed and the residence of the renowned golf course designer Pete Dye, epitomizes the luxury living experience in Carefree. With breathtaking views from every room and a host of premium features, this residence offers both a serene retreat. While this home could certainly make a wonderful primary residence the current owners use as a 2nd home and it's an established and profitable vacation rental with gross monthly revenues from 10K-22K in gross income per month. It's a turnkey business opportunity. PLUS! You will find convenient guest quarters, including a beautiful stone fireplace and a functional kitchenette. Ideal for visitors or as a rental opportunity, this inviting space provides comfort & convenience in a picturesque setting. Enjoy hosting memorable gatherings in the amazing backyard with an open patio & a crystal-clear swimming pool that is great for the summer! What are you waiting for? This gem won't disappoint!

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35411 N 50th Street Cave Creek, AZ 85331

$2,199,000

4 Beds

4.5 Baths

5,000 SqFt

Status Active

MLS # 6733910

Property Type Single Family Residence

Price Type --

Custom Santa Fe home on 2.5 acres Horse Property, 4Br, 4.5 Ba, 5000+ sq ft home, 22' ceilings in Living Room/Kitchen with Box Beam ceilings. Slate flooring with wood inlays, bedrooms are carpet. 3 gas fire places, Master shower is an experience. Master bedroom is large. Property has natural gas. 2 laundry rooms, Family room, Den, Granite counter tops, also hand hammered copper counter top on the kitchen bar, 6 burner Kitchen Aid range with a grill, 2 dishwashers, all appliances are Kitchen Aid, home has 8 covered horse pens, riding area, insulated shop, tack barn, RV pad with hook ups, and much more, come view this property.

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23227 S 180th Street Gilbert, AZ 85298

$2,199,000

3 Beds

2 Baths

2,512 SqFt

Status Active

MLS # 6736051

Property Type Single Family Residence

Price Type --

ALMOST 5 ACRES WITH THIS RARE DOUBLE LOT! Sales Price includes the 2.43 acres of the subject property including home on it as well as the 2.43 acre lot to the North. Got Horses? Newer stables with multiple Pastures connect with the gate. Entry road in the middle makes the perfect grand entrance The stated lot size of 211614 SF is for both lots.

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8040 E Laurel Street Mesa, AZ 85207

$2,199,000

4 Beds

4.5 Baths

4,130 SqFt

Status Active

MLS # 6692475

Property Type Single Family Residence

Price Type --

Newly updated and meticulously manicured 1.3 acre private oasis in Mountain Bridge near top-ranked schools and Las Sendas! Come see this one of a kind, remarkable northeast Mesa gated resort property with a stunning (2024) remodeled interior and perfectly detailed desert-scape acreage with collector cacti and succulents! The spectacular backyard includes nearly 1100 sq.ft. heated (with gas and heat pump) pool and spa, swim-up bar, waterslide, grotto and water-fire features. This incredible backyard also includes professional grade putting and chipping greens, sunken pergola, outdoor kitchen, and impressive LED landscape lighting. There's room for a sport court and RV garage! Inside, you'll be impressed with the newly completed (2024) remodel. The home has a spacious master suite with three additional en-suite bedrooms perfect for hosting or privacy for your own family! The open concept and large chef's kitchen make this an entertainer's dream. An additional highlight is the flex space (featured with four over-sized swivel chairs) inviting the perfect retreat inside the home to watch Arizona's captivating sunsets. This home is part of the Mountain Bridge community, hosting incredible amenities, activities, clubhouse, and grounds. Included with such is an impressive Pickleball community with daily drop-in play, ladies ladder play, live ball, tournaments, and reservable courts for private play. The pickleball community is welcoming and friendly. The clubhouse also includes fitness center with classes, heated pool for lap swimming, water aerobics, and family play. Two spas, tennis, basketball, putting and chipping, greens, playgrounds, and miles of walking paths are also included within the HOA amenities. The community hosts, food trucks, live music, and weekly activities. There's much to see and experience in this northeast Mesa location with easy access to the 202 as well as hiking, fishing, mountain biking, golf courses, Gene Autry tennis and pickleball center, and more! A must see!

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40740 N Longhorn Drive Scottsdale, AZ 85262

$2,195,900

4 Beds

3.5 Baths

4,523 SqFt

Status Active

MLS # 6753439

Property Type Single Family Residence

Price Type --

Like two homes in one! Sensational city light and mountain views expanding over 50 miles showcase this lovely home situated on 10+ private acres within the exclusive enclave of Carefree Ranch Homesteads adjacent to Desert Mountain. Owned Solar w/Tesla Charging Station for ultra low electric bills. You'll experience the ultimate privacy among neighbors with $5M+ homes on large 5+ acre sites. Though on 2 levels, the main level has no steps with Living Room, dining room, kitchen, primary bedroom, powder room and 4 car garage. The lower level includes a 2nd master suite, large game room or guest living room with wet bar and two additional bedrooms and bath. This arrangement is perfect for shared ownership. The pool & heated spa and built in BBQ enhance the... outdoor experience soaking in the forever views. Many of Scottsdale's finest golf courses and 10 minutes from grocery, shopping and dining.

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7127 E Rancho Vista Drive Unit 6011 Scottsdale, AZ 85251

$2,195,000

3 Beds

2.5 Baths

2,406 SqFt

Status Active

MLS # 6759582

Property Type Apartment

Price Type --

EXCEPTIONAL, HIGHLY UPGRADED 2,406 SQFT 6TH FLOOR CONDO WITH TWO LARGE BEAUTIFULLY LANDSCAPED BALCONIES, AND GORGEOUS VIEWS! This exceptional 3 bedroom 2.5 bathroom condo features extensive floor-to-celing glass, a spectacular and highly upgraded gourmet kitchen, a well conceived open floor plan, superior finishes, 2 beautiful and quiet balconies, gorgeous views, 2 designated parking spots, and an attractive and upgraded laundry room. All found within the luxurious Optima Camelview Village, with it's unbeatable location & state of the art architecture/amenities. Amenities include: Two Outdoor Zen Pools, Spas & Bbqs One on each side of the community (heated year round). 24,000 sq. ft. Fitness Center (Recently Remodeled). Mens & Womens Locker Rooms w/ Steam Rooms, Showers and Private Lockers. Indoor Lap Pool & 2 Spas (Heated year round), On-site concierge, Putting green, Hybrid Basketball / Pickle-ball Court, Racquet ball court, On-site restaurant (metropolis), conference room, 24/7 Security, Reservable party room and multi-purpose fitness/yoga room.

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