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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16331 W Sentinal Rock Lane Surprise, AZ 85387

$585,000

2 Beds

2.5 Baths

2,470 SqFt

Status Active Under Contract

MLS # 6781817

Property Type Single Family Residence

Price Type --

Estate model Ashbury home centrally located in The Grand. Home with 20'' neutral tiling in all common areas has 2 en suites, guest half bath, an office, great room with dining and a very generous sized kitchen. For the chefs amongst us, this model is known for its large kitchen with plenty of counter/storage and a center island with additional storage. Eating area is large enough to accommodate a table of 8 or more. Newer stainless appliances, gas cooktop, wall oven and mocha maple cabinetry. Primary suite which opens to rear patio features shower w/ separate tub, double vanities and a spacious walk-in closet. Rear patio has great protection from elements with lattice covering and a water feature to relax by. Home has a golf cart garage, garage built in cabinets and 2 NEW HVAC systems.

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18225 W Mackenzie Drive Goodyear, AZ 85395

$585,000

4 Beds

3.5 Baths

3,625 SqFt

Status Active

MLS # 6694848

Property Type Single Family Residence

Price Type --

HUGE PRICE REDUCTION! Welcome home to this fantastic Sedella beauty! Sparkling pebble-tec play pool with waterfall. Professionally landscaped backyard with tons of pavers & large covered patio. Open & spacious floorplan. Formal entry. Living room. Formal Dining. Huge rear family room opens into spacious eat-in kitchen. Raised panel cabinets, granite counters w/ tile backsplash, huge island, upgraded stainless appliances. & huge walk-in pantry. Office/Den. Upstairs has large open loft. Master suite has his/her closets, garden tub & walk in shower. Two bedrms w/ Jack/Jill bath, 4th bedroom & another full bath. Upstairs laundry. Located on almost 1/4 acre lot. Room for RV gate and HOA allows RV Parking! This home is beautiful & located near tot lot & community park.

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28016 N 251st Avenue Wittmann, AZ 85361

$585,000

3 Beds

2 Baths

1,654 SqFt

Status Active

MLS # 6667989

Property Type Single Family Residence

Price Type --

This luxurious mini mansion on over an acre of land in the roping capital of the world is a haven for horse enthusiasts, boasting a private arena and covered stalls on-site, alongside ride-in, ride-out desert access and close proximity to major roping events. The property's circular drive, low-maintenance desert landscaping, and shared well guarantee pristine surroundings and water quality. Inside, the open floor plan facilitates seamless entertaining, complemented by a spacious kitchen featuring stainless steel appliances and tile countertops. With no restrictions, enjoy the freedom to park your camper on-site, striking a perfect balance between privacy and convenience.

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7500 E Deer Valley Road Unit 68 Scottsdale, AZ 85255

$585,000

3 Beds

2 Baths

1,358 SqFt

Status Active

MLS # 6714999

Property Type Single Family Residence

Price Type --

Seller may carry. Best offering in North Scottsdale. Priced to sell Freshly painted interior will impress you, showcasing a large living room bathed in natural light, ideal for entertaining or relaxation. The kitchen displays fluorescent lighting, plenty of honey oak cabinets, built-in appliances, and a bright dining area with sliding glass doors to the back patio. Make the flexible den with double doors a media room or extra bedroom for your guests. Take a look at the spacious primary retreat, which provides a walk-in closet and private bathroom. The secondary bedroom has a mirrored door closet. A washer and dryer are included! The backyard has a covered patio where you can sit and relax after a hard day's work. This rare find won't disappoint!

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7102 W Windrose Drive Peoria, AZ 85381

$585,000

5 Beds

3 Baths

3,532 SqFt

Status Active

MLS # 6721103

Property Type Single Family Residence

Price Type --

SELLER OFFERING CONCESSIONS! Welcome to this modern home nestled on a large corner lot with an RV GATE offering 5 bedrooms & 3 full-sized bathrooms, & a secondary owner's suite in the basement. The main level features 3 bedrooms, including the master bedroom upstairs with walk-in closets. REMODELED bathrooms and a laundry chute to enhance the comfort & functionality of the home. Natural light shines through plantation shutters, creating a bright atmosphere. The basement adds 2 bedrooms, a WET BAR, & a full-sized bathroom to be used as a guest room or for entertaining extended family members. Outside, the backyard is a serene retreat with mature greenery providing privacy & a perfect backdrop for relaxation or outdoor activities.

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3161 W Frankfurt Drive Chandler, AZ 85226

$585,000

4 Beds

2 Baths

2,024 SqFt

Status Active

MLS # 6760217

Property Type Single Family Residence

Price Type --

This beautiful one-level home exudes charm and comfort with its expansive open floor plan and high ceilings, creating a bright and airy atmosphere throughout. Recently updated with fresh paint inside and out, along with updated carpets. The master suite is a true retreat, featuring a full spa-style bathroom with a soaking tub and walk-in shower—perfect for unwinding. The outdoor living area is equally impressive, boasting a sparkling pool and an extended patio, offering plenty of space for lounging, dining, and entertaining. Whether you're hosting a barbecue or enjoying a quiet evening by the pool, this home provides the perfect blend of indoor and outdoor living. Don't miss your chance to make this exceptional property your own!

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22740 N 74th Lane Glendale, AZ 85310

$585,000

4 Beds

2 Baths

2,242 SqFt

Status Active

MLS # 6748677

Property Type Single Family Residence

Price Type --

Situated on a great lot in the community of Hillcrest this 4 bedroom 2 bath home has everything you are looking for. Great curb appeal with new exterior paint in 2021. Step inside to beautiful inlaid tile in neutral colors, large open living room with art niches, vaulted ceilings and bright open windows. Open kitchen with plenty of cabinet and counters space, kitchen island and great spot for a dining table - all over looking the cozy family room. Nice primary bedroom with ensuite bath featuring a step in shower, soaking tub and dual vanities. Beautiful back yard with large covered patio, sparkling pool/spa with rock accents, grassy area, and mature landscaping. New roof in 2017; New heat pump/AC in 2018; New water heater 2023. No neighbors behind you. Low HOA! So much to love!!

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11410 N 50th Lane Glendale, AZ 85304

$585,000

5 Beds

3 Baths

2,782 SqFt

Status Active

MLS # 6755548

Property Type Single Family Residence

Price Type --

Beautiful Former Model Home...Inviting 5 bedroom, 3 full bathrooms! Real wood plantation shutters, recess lighting, 8 foot doors and closets, 5 inch base boards throughout home. Gorgeous kitchen w/ white cabinets, stainless steel appliances, granite counter top, and an island w/ a breakfast bar. Spacious primary bedroom w/ large walk in closet, double sinks w/ subway tiled walk in shower. Primary bedroom PLUS 2 additional bedrooms and another bath downstairs! Large loft, 2 more bedrooms and a bath upstairs. Energy efficient spray foam insulation keeps electric bills low. Laundry room w/ sink and custom cabinets downstairs. Dreamy backyard showcases a covered patio, pavers, built-in BBQ, a fire pit, & an enticing pool for year-round entertainment! A MUST SEE!!

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2544 W Knowles Avenue Mesa, AZ 85202

$585,000

3 Beds

2.5 Baths

2,106 SqFt

Status Active

MLS # 6771836

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the heart of Dobson Ranch! This beautifully updated residence is ready for its new owners & features an impressive backyard oasis, complete with a lush ficus hedge, low maintenance turf, and a delicious orange tree. Step inside to discover a versatile den that serves as the perfect flex space—ideal for a craft room, office, media room, utility area, or guest room. The heart of the home is the stunning kitchen, completely remodeled in 2018 to create an open floor plan that doubled its size. Enjoy modern conveniences, including motion-detected under-cabinet lighting that illuminates your space as you descend the stairs. Recent upgrades include a complete ductwork overhaul in 2024, ensuring optimal airflow throughout the home. Nestled on an oversized lot in a peaceful half cul-de-sac, this property features RV gates on both sides, leading to two large concrete pads-perfect for storage, parking, or additional outdoor activities. The driveway also accommodates a third slab, complemented by a charming paver walkway. The extended-length garage provides direct access to the side yard. Dive into relaxation with the large diving pool, and enjoy evenings on the covered patio overlooking the north-facing yard, where you can gather around the firepit. Pool equipment is discreetly stored in the side yard for your convenience. Experience the vibrant Dobson Ranch community, complete with miles of scenic walking paths along the lake and golf course; 3 community pools, and engaging events throughout the year. Enjoy tennis & pickleball courts, a splash pad, and a rec room available for private rental. Explore a variety of clubs for hobbies ranging from dance and writing to hiking and cards-there's something for everyone! For more information, visit Dobson Ranch HOA for community publications like the Ranchers' Roundup. Golf enthusiasts will appreciate the recent upgrades at Dobson Ranch Golf Course, including a cutting-edge Inrange ball tracking driving range, on-course food ordering, a 9-hole putt-putt course which is free for kids, a restaurant and bar, and numerous leagues and clinics.

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3706 S Cottonwood Drive Tempe, AZ 85282

$585,000

4 Beds

2 Baths

1,669 SqFt

Status Active

MLS # 6768193

Property Type Single Family Residence

Price Type --

Welcome to this beautifully updated 4-bedroom, single-story home with a 2-car garage and no HOA! Recently renovated within the last 5 years, including a new A/C unit, this home features hard floors throughout and an open-concept kitchen with granite countertops. The exterior boasts fresh paint, a low-maintenance yard, and a sparkling PebbleTec diving pool. The spacious covered patio is ideal for entertaining. Conveniently located near shopping, dining, entertainment, the 101/60 freeways, and Ehrhardt Park. This home is the perfect blend of style, comfort, and location!

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4077 S Sabrina Drive Unit 71 Chandler, AZ 85248

$585,000

4 Beds

3 Baths

1,775 SqFt

Status Active

MLS # 6768414

Property Type Townhouse

Price Type --

Welcome to this stunning home in the Echelon At Ocotillo Community in South Chandler. This end unit boasts an abundance of natural light and windows creating a bright and inviting atmosphere. Well laid pavers in the front patio make it a great place to sit and watch the sunset. The gourmet kitchen includes quartz counter tops, new upgraded LG smart appliances with refrigerator connected to the RO for water, regular ice and craft ice spheres, plus lower kitchen cabinets & pantry with convenient pull outs. Smart home system with ring doorbell, programmable thermostats and smart garage door opener. One bedroom and full bath on the first level, three bedrooms and two bath rooms on the second level. Walk-in shower in master bathroom. Additional features, ceiling fans, steel security front door, full driveway with two car garage. Community amenities include a playground , gorgeous community pool and spa for your enjoyment. Don't miss out on the opportunity to make this house your new home.

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5831 W Pine Cove Prescott, AZ 86305

$585,000

3 Beds

2 Baths

2,057 SqFt

Status Active

MLS # 6772452

Property Type Single Family Residence

Price Type --

Welcome to this 3-bedroom, 2-bath home tucked away on a serene, pine-covered .93 acre lot in Highland Pines. Offering 2,057 sq. ft. of living space, this mountain retreat features a great room with soaring ceilings, rustic wood accents, and a cozy wood-burning stove. The dining room's wall of windows provides breathtaking views of the surrounding pines. Step outside onto the deck to take in the panoramic scenery. Additional amenities include a one-car garage, asphalt driveway, brick paver paths, and a fenced dog run. This home is truly a peaceful getaway in the Pines with modern comforts!

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