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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286 E Citrus Hollow Way Queen Creek, AZ 85140

$599,132

2 Beds

2.5 Baths

1,678 SqFt

Status Active

MLS # 6644003

Property Type Townhouse

Price Type --

Welcome to a brand new Valletta model. It has an expansive layout and this home is illuminated by an abundance of natural light. The kitchen stands fully equipped with modern stainless steel appliances and elegant granite countertops. With a culinary connoisseur's dream at its heart, including a gas cooktop, it's an ideal setting for hosting and delighting your guests. Both bathrooms have undergone exquisite upgrades, featuring tile surrounds and elevated fixtures. A few upgrades include quartz countertops at kitchen and bathrooms, huge sliding door at patio, gourmet kitchen appliances and a large smart space. Start living the good life at Encanterra today!

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7450 E Continental Mountain Estates Drive Unit 1 Cave Creek, AZ 85331

$599,000

4 Beds

4.5 Baths

6,252 SqFt

Status Active

MLS # 6723737

Property Type Single Family Residence

Price Type --

New co-ownership opportunity: Own 1/8 of this turnkey home, professionally managed by Pacaso. Soak up desert views in this gated mountaintop retreat with a wrap-around balcony & walls of glass. Sleek, contemporary architecture creates seamless indoor-outdoor living, starting in the spacious great room. The gourmet kitchen has stainless steel appliances & a quartz waterfall island. The dining table & executive bar make entertaining easy, as does the cooled whiskey and wine room. The primary suite features a fireplace, wine fridge & doors to the patio. The en suite bathroom has a soaking tub, tiled shower, dual sinks & a makeup vanity. An office & game room opens to the infinity pool & patio. The home, which includes an elevator, comes fully furnished & professionally decorated.

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7450 E Continental Mountain Estates Drive Unit 2 Cave Creek, AZ 85331

$599,000

4 Beds

4.5 Baths

6,252 SqFt

Status Active

MLS # 6723860

Property Type Single Family Residence

Price Type --

New co-ownership opportunity: Own 1/8 of this turnkey home, professionally managed by Pacaso. Soak up desert views in this gated mountaintop retreat with a wrap-around balcony & walls of glass. Sleek, contemporary architecture creates seamless indoor-outdoor living, starting in the spacious great room. The gourmet kitchen has stainless steel appliances & a quartz waterfall island. The dining table & executive bar make entertaining easy, as does the cooled whiskey and wine room. The primary suite features a fireplace, wine fridge & doors to the patio. The en suite bathroom has a soaking tub, tiled shower, dual sinks & a makeup vanity. An office & game room opens to the infinity pool & patio. The home, which includes an elevator, comes fully furnished & professionally decorated.

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7450 E Continental Mountain Estates Drive Unit 3 Cave Creek, AZ 85331

$599,000

4 Beds

4.5 Baths

6,252 SqFt

Status Active

MLS # 6723861

Property Type Single Family Residence

Price Type --

New co-ownership opportunity: Own 1/8 of this turnkey home, professionally managed by Pacaso. Soak up desert views in this gated mountaintop retreat with a wrap-around balcony & walls of glass. Sleek, contemporary architecture creates seamless indoor-outdoor living, starting in the spacious great room. The gourmet kitchen has stainless steel appliances & a quartz waterfall island. The dining table & executive bar make entertaining easy, as does the cooled whiskey and wine room. The primary suite features a fireplace, wine fridge & doors to the patio. The en suite bathroom has a soaking tub, tiled shower, dual sinks & a makeup vanity. An office & game room opens to the infinity pool & patio. The home, which includes an elevator, comes fully furnished & professionally decorated.

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7450 E Continental Mountain Estates Drive Unit 4 Cave Creek, AZ 85331

$599,000

4 Beds

4.5 Baths

6,252 SqFt

Status Active

MLS # 6723862

Property Type Single Family Residence

Price Type --

New co-ownership opportunity: Own 1/8 of this turnkey home, professionally managed by Pacaso. Soak up desert views in this gated mountaintop retreat with a wrap-around balcony & walls of glass. Sleek, contemporary architecture creates seamless indoor-outdoor living, starting in the spacious great room. The gourmet kitchen has stainless steel appliances & a quartz waterfall island. The dining table & executive bar make entertaining easy, as does the cooled whiskey and wine room. The primary suite features a fireplace, wine fridge & doors to the patio. The en suite bathroom has a soaking tub, tiled shower, dual sinks & a makeup vanity. An office & game room opens to the infinity pool & patio. The home, which includes an elevator, comes fully furnished & professionally decorated.

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5618 W Hardtack Trail Laveen, AZ 85339

$599,000

5 Beds

3 Baths

2,971 SqFt

Status Active

MLS # 6775155

Property Type Single Family Residence

Price Type --

You'll FALL IN LOVE The Moment You Step Into This Grand Entrance With 2 STORY HIGH CEILINGS*NEUTRALPalette*Lots Of TILE Flooring*CLOVER Plan Has Room For Everyone*8 FT. Interior DOORS*GREAT Room W/Sliders+Open To ISLAND KITCHEN Featuring GRANITE Counters,42'' BIRCH Cabinets, GAS Stove,WALK-IN Pantry, SS Refrigerator STAYS*Formal DINING For Fun Gatherings*1BR/BA Down*Staircase Opens To LOFT*PRIMARY Suite Has PRIVATE BATH W/Separate Tub+Shower, WALK-IN Closet*Secondary Bedrooms Have MOUNTAIN VIEWS+Walk-In Closets*FLEX Room In Lieu Of 3rd Car*Extended PATIO*Backyard Is Ready For Your DESIGN+CREATIVITY*4 FT Garage EXTENSION*Xtra Insulation*Greenbelt 3 Doors Away*PLAYGROUND Around The Corner*SCHOOL Right Down The Street*Easy FREEWAY Access*LIKE NEW Condition*THE PERFECT PLACE TO CALL HOME!!

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9374 W Sandstone Mountain Drive Casa Grande, AZ 85194

$599,000

4 Beds

2 Baths

2,425 SqFt

Status Active

MLS # 6785934

Property Type Single Family Residence

Price Type --

Stunning New 2024 home features 4 bedrooms, 2 bathrooms, and a dedicated office, along with a spacious 3-car garage, all set on a full-acre lot in a highly sought-after area just minutes from I-10. Experience the open & inviting layout designed to make the most of every square foot. The kitchen shines with elegant Shaker-style white cabinets, luxurious Quartz countertops, modern stainless steel appliances & pantry. Relax in the bright Great room, which offers flexible options for dining or entertainment. Stylish neutral tile flows through the main high-traffic areas, while cozy carpeting enhances the bedrooms. Retreat to the expansive Primary suite, complete with a primary bathroom featuring a walk-in shower. Other features include fully fenced yard with block walls. Back shady patio and an expansive enclosed back yard with endless possibilities. HOA permits R.V.'s, Boats and other recreational vehicles for a low 30 per month. This treasure is ready for immediate occupancy.

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2118 E Voltaire Avenue Phoenix, AZ 85022

$599,000

3 Beds

2.5 Baths

1,754 SqFt

Status Active

MLS # 6772448

Property Type Townhouse

Price Type --

The Agave - A rare combination of Space, Style, Quality, and Value where Design Matters. Be inspired by the warm tones and natural textures of the desert where the Sagebrush and Adobe interior color schemes boldly echo the beauty of The Agave. Modern, Flat-Panel Kitchen Cabinetry in Matte color-ways, Solid-surface, Spa-Inspired Flat-Panel vanity cabinets in natural-wood tone finishes in Bathrooms. Standard LVT flooring installed in the entire home, Quartz Countertops and Tile shower surrounds. Standard Accent painted interior doors and jambs for a bold, effortless design touch. Ceiling fans included as well as EV prewire. The Wren showcases a generous backyard and second floor deck to bring the outside in.

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10556 S 297th Avenue Palo Verde, AZ 85343

$599,000

4 Beds

3.5 Baths

2,312 SqFt

Status Active

MLS # 6666831

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This stunning semi-custom residence spans over 2,300 sqft and is nestled on a generous 1-acre lot, free from HOA restrictions. Inside, you'll find a beautifully designed split floor plan featuring 4 spacious bedrooms and 3.5 baths. Each room offers direct bathroom access with premium showers, ensuring comfort and convenience for everyone. The gourmet kitchen is a chef's delight, equipped with SS appliances and elegant finishes. Step outside to enjoy the charm and privacy provided by the farm-style fencing. We warmly invite all buyers and buyer's agents to tour this remarkable property. Experience unmatched elegance and comfort!

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4628 N Desert Stream Way Litchfield Park, AZ 85340

$599,000

3 Beds

2.5 Baths

2,513 SqFt

Status Active Under Contract

MLS # 6701011

Property Type Single Family Residence

Price Type --

Corner view lot with only one immediate neighbor! Property backs to pond with tranquil water and sunset views! 3 Bedrooms + Huge Loft, 2.5 baths, Great Room with dramatic ceiling. Roof redone 2016, 2 New Trane HVAC's 2019, 2 1/2Car Garage updated Nov 2022 with side mount garage door openers, epoxy floor, garage cabinets, 5 overhead storage racks, lighting, wired for EV charging & tankless hot water heater. Neutral tile, carpet and paint. Primary spacious bedroom features vaulted ceilings, window seat and separate door to back patio & lush backyard. Kitchen with backyard/pond views has granite counters, professional appliances, trash compactor and pantry. Private balcony for stunning views! Loft is versatile for office/play room/game room. Front entry with extensive paver patio and steps. Nearby: Wigwam Resort and Country Club featuring 3 renowned golf courses offering 54 holes of championship-level play, tennis, spa, & 3 on site restaurants. From the Litchfield Greens community there are 2 tunnels connecting to Litchfield Park Proper, featuring 4 Parks,1 Lake, miles and miles of walk ways friendly for walking and cycling. Residents enjoy a high quality of life, with access to parks, libraries, and award-winning schools. The city's vibrant community life is reflected in major events like the Litchfield Park Festival of the Arts and Christmas in the Park. Upcoming New Litchfield Square Development~At the heart of Litchfield Park is the Litchfield Square projecta 26-acre mixed-use urban hub that will serve as new downtown. Designed with a walkable, community-oriented layout.

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29817 N 223rd Avenue Wittmann, AZ 85361

$599,000

4 Beds

3 Baths

2,561 SqFt

Status Active Under Contract

MLS # 6778300

Property Type Single Family Residence

Price Type --

Fantasic custom home that is priced to sell. The open floorplan has split master with 2nd guest quarter or master on opposite side. The two other bedrooms are split off and have a jack and jill bathroom with private vanities. The back yard has a block wall around the perimeter with an RV Gate on both sides. Extra large back patio has tongue and grove ceilings. Beautiful upgraded quartz cover the countertops. Beautiful Custom wood cabinets throughout make this home extra special. Kitchen island is 4X9 w breakfast bar overhang. Exterior was just painted. This is on a 4 part shared well w huge storage tank. The surrounding homes are excellent custom homes. Bring your horses and your toys. No HOA

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4380 W Eagle Street Show Low, AZ 85901

$599,000

3 Beds

2 Baths

1,632 SqFt

Status Active

MLS # 6730924

Property Type Single Family Residence

Price Type --

Experience the beauty of White Mountain living in this furnished cabin located in the exclusive Eagle Mountain Estates. Built in 2020, this home showcases exceptional craftsmanship throughout its 3-bedroom, 2-bath layout. Set on a naturally landscaped lot with engineered drainage for peace of mind, this cabin offers oversized covered porches both in the front and back—ideal for taking in the serene surroundings and outdoor living year round. Inside, you'll find splendid features including granite countertops, custom cabinets, and elegant tile work. The vaulted ceilings add a sense of spaciousness to the home. Located in a peaceful, gated community, this cabin provides a perfect blend of tranquility and stylish amenities. Welcome home!

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