NAHB: Home Builder Confidence Holds Steady in May

The National Association of Home Builders reported that home builder confidence in the U.S. housing market conditions held steady for the fourth consecutive month in May. Builder confidence stayed at a reading of 58, which was the number expected by analysts and was also the reading for April. Analysts said that the consistency in readings signified expansion in housing markets. Any reading over 50 indicates that more builders than not are confident about market conditions.

Components of the NAHB Housing Market Index include readings on builder confidence in current market conditions which held steady at 63 and builder confidence in market conditions over the next six months, which gained three points to a reading of 54. Builder confidence in foot traffic for new home developments was unchanged at a reading of 44.

NAHB Chief Economist Robert Dietz said that the higher reading for future sales indicates growing builder confidence in housing market conditions. In recent months, housing markets have been fueled by low mortgage rates and high demand, but supplies of available homes are dwindling. Housing industry analysts have identified building new homes as a major solution for the shortage of homes for sale.

Analysts note that while new homes represent a small part of the residential real estate market, each new home constructed contributes an average of three jobs for a year and yields an average of $90,000 in tax revenue for each home built. Builders repeatedly cite a lack of workers and buildable lots as a concern for building more homes. An NAHB analysis of the Bureau of Labor Statistics’ report on Job Openings and Labor Turnover indicated that there were 210,000 unfilled construction jobs in March, which was the highest reading since May 2007.

Regional surveys of home builder sentiment were mixed. The reading for the Northeast fell by 3 points to 41 while readings for the Midwest and South rose by one point each with readings of 58 and 59 respectively. The reading for the West was unchanged at 67.

Low Mortgage Rates: Will the Fed Raise Rates in June?

In other housing related news, analysts’ predictions are mixed regarding whether or not the Federal Reserve will raise its target funds rate next month when the Federal Open Market Committee (FOMC) meets. Uncertainties over the United Kingdom’s upcoming vote about leaving the European Union and mixed economic data appear likely to nix a rate increase, but improving labor markets could be a plus for a fed rate increase. Raising the federal funds rate would cause mortgage rates to rise and is considered a further concern for the gap between growing wages and rapidly rising home prices.

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27167 W Marco Polo Road Buckeye, AZ 85396

Open House

$605,000

3 Beds

3 Baths

2,332 SqFt

Status Active

MLS # 6786340

Property Type Single Family Residence

Price Type --

GOLF COURSE LOT with excellent view of #4 green. Furniture available outside of Escrow. 2332 square feet with casita, 3 bedrooms + den that is set up as a bedroom. This Destiny model shows like a new model, 1 owner and lived in less than 6 months a year. Elevated view of the 4th green with the beautiful White Tanks in the background. Very private patio with cart path on the other side. Must see document section for details on upgrades.

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944 S Grand -- Mesa, AZ 85210

$604,999

5 Beds

3.5 Baths

2,711 SqFt

Status Active

MLS # 6766857

Property Type Single Family Residence

Price Type --

This stunning custom-built Mesa home will impress from the moment you enter. With 5-bedrooms with 2 full baths and 2 half baths, this home offers an exceptional living experience. The spacious interior boasts soaring ceilings, a gourmet chef's kitchen, and abundant natural light throughout. The primary suite, conveniently located on the main floor, features an en-suite bathroom with a jacuzzi tub. Upstairs, you'll find four additional guest bedrooms, one of which includes a private powder room and a large balcony that overlooks the beautifully landscaped backyard. Outside you'll discover your own private oasis, complete with a sparkling pool w/ a grotto. The oversized Ramada with a fully-equipped outdoor kitchen sets the stage for unforgettable memories. No HOA, with an RV gate! unforgettable gatherings. With an RV gate and no HOA, this property offers both convenience and freedom.

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2410 N 40th Street Street Phoenix, AZ 85008

$604,999

3 Beds

2 Baths

1,999 SqFt

Status Active

MLS # 6776591

Property Type Single Family Residence

Price Type --

Arcadia-lite living at an affordable price. This 3-bedroom, 2-bathroom home sits on a large lot near the great shops and restaurants of Arcadia. This mostly remodeled home--including a new AC--features quartz countertops, stainless steel appliances, and new flooring throughout most of the common areas. In addition to the main home, there is a fully furnished 196 square foot office/studio with electricity and AC overlooking the pool and back yard. The one-car garage is equipped with a TESLA home charger on a dedicated breaker. Professionally installed turf and pavers are in the front yard and pool area.

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1291 W Treasure Trail Apache Junction, AZ 85120

$604,990

4 Beds

2 Baths

2,432 SqFt

Status Active

MLS # 6750806

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. The Avelino floor plan offers a refined single-story design with four bedrooms, including an AllGen suite, and a spacious flex area ideal for an office, TV room, or study. Featuring front yard landscaping, this home will be ready for occupancy in October or November. Conveniently situated near community parks, grocery stores, and dining options.

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32000 N 117th Avenue Peoria, AZ 85383

$604,990

3 Beds

2 Baths

1,921 SqFt

Status Active

MLS # 6754803

Property Type Single Family Residence

Price Type --

It's the Clover with 3 bedrooms + flex space to use as you wish, 2 baths. This home has a large walk-in shower at owner's bath with tile surrounds. Multi slide door that leads out to the covered patio. Pavers at drive, walk and entry. Stainless steel gas appliance package with 36'' cooktop, wall oven and glass canopy hood. Maple linen-off white cabinets with 42'' uppers in kitchen with pull out trash drawers. AZT Steel gray granite in kitchen and much more. Amenity Rich Mystic includes a Resort Style community pool, Rec center with year-round events, Hiking paths & community parks. The perfect location- close to shopping, restaurants, golf, Lake pleasant and the loop 3. Estimated completion April. PHOTOS IN THIS LISTING ARE OF THE CLOVER MODEL HOME.

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11465 E Utopia Avenue Mesa, AZ 85212

$604,990

3 Beds

2.5 Baths

2,506 SqFt

Status Active

MLS # 6776944

Property Type Single Family Residence

Price Type --

''Stunning 3 bedroom home with seperate Den and 2.5 Baths, located in the East Valley's newest community, Destination at Gateway. Discover this inviting home featuring a 4 Panel Center siding glass door off the great room, seamlessly connecting indoor and outdoor living. The kitchen boasts stainless steel appliances, including a 36-inch gas cooktop, built-in wall oven and microwave, along with gray shaker cabinets adorned with stainless steel hardware and a convenient trash pull-out. The quartz countertops and stunning kitchen backsplash add a touch of elegance to the space. Throughout the home, 8-foot interior doors with upgraded satin nickel door hardware create a modern, cohesive feel. The main areas are adorned with 6x 36'' wood-look tile and 4 1/4-inch baseboards, providing a stylish foundation for the home. Bathrooms feature upgraded vanity lights and brushed nickel bath faucets, while the primary bathroom offers an enlarged shower and a separate soaking tub for relaxation. With 10-foot ceilings, an oversized laundry room, a separate valet area at the garage entrance, and a paver driveway, this home is designed to offer both luxury and practicality, providing a comfortable and stylish living space for you and your family.

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16430 W Desert Mirage Drive Surprise, AZ 85388

$604,990

4 Beds

3 Baths

2,623 SqFt

Status Active

MLS # 6754292

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! It's the stunning Topaz - 4 bedrooms with walk in closets + study and 3 full baths. Plenty of counter space and large walk in pantry. Pavers at drive, walk and entry. Large extended covered patio. Beautiful kitchen includes gas appliance package with stainless steel 30'' cooktop, wall oven and hood. Sonoma maple ''Linen-off white) cabinets with 42'' kitchen uppers with pull out trash drawer. AZT Tawny quartz countertops at kitchen. Black single bowl under mount sink. Upgrade flooring includes Beaumont Olmo 7x24 plank tile with 5'' baseboards and 3 1/4'' door casings throughout. Two tone interior ''Great Gray'' paint throughout. 8' tall garage doors and so much more. Please verify all information with onsite agent. Thank you!

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37645 W Padilla Street Maricopa, AZ 85138

$604,990

4 Beds

3.5 Baths

2,652 SqFt

Status Active

MLS # 6697374

Property Type Single Family Residence

Price Type --

Introducing luxury living, embrace the opulence of a new home previously exclusive to Scottsdale and the East Valley. Experience the versatility of our Flagstaff plan, featuring the Extra Suite Plus - a dedicated space ideal for multi-generational living! Your gourmet kitchen boasts stacked cabinetry, double ovens, and a gas cooktop. Relax in your spacious Spa Shower, entertain on the patio, or use the FOUR CAR GARAGE for all your toys! With 10ft ceilings, 8ft doors, and 8,750 sq ft homesites, K. Hovnanian Homes stands out! Move in by late summer and start your luxurious lifestyle! ^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

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3294 E Saddletree Way San Tan Valley, AZ 85140

$604,990

4 Beds

3 Baths

2,649 SqFt

Status Active

MLS # 6766622

Property Type Single Family Residence

Price Type --

Welcome to Wales Ranch! San Tan Valley's newest master planned community with a wealth of amenities to enjoy. Conveniently located with easy access to great local attractions and amenities, including shopping and dining at Queen Creek Marketplace, outdoor recreation at San Tan Regional Park, fresh produce at Schnepf Farms and popular sites such as Queen Creek Olive Mill. A copy of the public report is available on the Arizona Department of Real Estate's website.

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2438 E Claire Drive Phoenix, AZ 85032

$604,900

3 Beds

2 Baths

2,227 SqFt

Status Active

MLS # 6738609

Property Type Single Family Residence

Price Type --

NEW PRICE! This home is ready for you! Roof, AC, Pool and sewer lines all replaced/updated in the past six years. Remodeled with generous living and entertainment spaces. Landscape displays native desert plants perfect for water conservation. Recent upgrades include quartz countertops, tile flooring, lighting, interior paint and new plumbing throughout. The almost new pool filter/pump will keep your private water escape crystal clear and ready for entertaining friends and family. The pool was resurfaced with pebble tec and new cool deck in 2018. Roof and AC both replaced in 2018. Sewer and plumbing replaced in 2023. Easy access to central Phoenix, SR 51 and Loop 101.

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4838 S Emery Circle Mesa, AZ 85212

$604,900

5 Beds

2.5 Baths

2,747 SqFt

Status Active

MLS # 6761046

Property Type Single Family Residence

Price Type --

Located in East Mesa's Elliot Tech Corridor, 5 bedroom, 2 1/2 baths. Master and Secondary Baths beautifully remodeled, Master with Separate Tub, Shower and Dual Sinks. 2 New 18 Seer AC's with Heat Pumps and R49 Attic Insulation. Too many improvements to list. Kitchen Granite Counter tops with new Stainless Steel Dual Oven and Dishwasher. 6'' Floor Molding through out First Floor. Fireplace in Living Room. Gorgeous Backyard, Recently Resurfaced Self Cleaning Pepple Tec Pool with Waterfall. Extended Covered Paver Patio and Putting Green. RV Gate and Storage Shed as well. Water Softener and Reverse Osmosis.

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295 W Oriole Way Chandler, AZ 85286

$604,500

4 Beds

2 Baths

1,792 SqFt

Status Active

MLS # 6772157

Property Type Single Family Residence

Price Type --

Welcome to this stunning 4-bedroom, 2-bathroom home in Chandler, where every detail has been thoughtfully crafted for both style and comfort. The heart of the home is the open-concept kitchen, boasting sleek quartz countertops and crisp white cabinetry that seamlessly flows into a charming fireplace accent wall—an ideal space for entertaining guests or cozy family nights. The spacious layout offers an inviting atmosphere, perfect for gatherings or relaxed evenings at home. The luxurious primary suite offers a serene retreat, featuring a beautifully tiled shower, a soaking bathtub, and a double vanity with modern finishes, creating a spa-like experience in your own home. Step outside to your private outdoor oasis, complete with a pebble tech pool and a cozy fire pit, perfect for enjoying - cool Arizona evenings under the stars. Whether you're hosting a barbecue or simply relaxing, this backyard is designed for both fun and relaxation. For the environmentally conscious, the home is equipped with an EV car charger, offering convenience and efficiency. Plus, the entire front of the house is adorned with custom Oelo lighting, making holiday decorating easy and giving your home a festive glow for any occasion. This home truly has it all, blending modern upgrades with timeless charm in one of Chandler's most desirable locations. Don't miss your chance to make this exceptional property yours!

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