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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20903 S 185th Way Queen Creek, AZ 85142

$580,000

3 Beds

2 Baths

1,920 SqFt

Status Active

MLS # 6770353

Property Type Single Family Residence

Price Type --

This incredible home is MOVE IN READY!! Comes complete with refrigerator, hot tub, and large shed!! You're going to love living in this open concept home with 10 ft ceilings and large windows with a backyard perfect for lounging, entertaining or relaxing in the hot tub! RV Gate with extra concrete drive for parking, and additional storage space behind the gate! Air conditioned garage space with epoxy floors and loads of cabinets is perfect for parking or working on projects! With kitchen and bathroom updates, and new flooring this home is in excellent condition and you're going to love living here! Located on the Gilbert/Queen Creek border you're just minutes from QC Marketplace and San Tan Village shopping, dining & entertainment options! Don't let this one get away!

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10080 E Mountain View Lake Drive Unit 327 Scottsdale, AZ 85258

$579,999

2 Beds

2 Baths

1,152 SqFt

Status Active

MLS # 6749762

Property Type Apartment

Price Type --

Welcome to this Scottsdale Bay Club penthouse condo, recently renovated in 2024 with elegant quartz countertops, soft-close cabinets, sleek tile showers, and luxury vinyl flooring. This end unit offers privacy with no neighbors above and serene pool views from a private balcony. Enjoy direct access to the community pool, clubhouse, and gym. The gated community features a spa, fitness center, recreation room, Koi pond, and boat docks. Located next to Scottsdale Ranch Park, amenities include lighted tennis, racquetball, and sand volleyball courts, plus more. Close to Mercado Shopping Center and the 101 freeway.

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9016 W Tony Court Peoria, AZ 85382

$579,999

4 Beds

2.5 Baths

2,672 SqFt

Status Active

MLS # 6779455

Property Type Single Family Residence

Price Type --

HUGE REDUCTION 40,000... NO HOA NONE.!!!!! .BRING YOUR BOATS AND TRAILERS YOU CAN PARK THEM HERE AT YOUR NEW HOUSE. RV GATE WIDE ENOUGH FOR A PONTOON.THERES A PLAY POOL , HALF BASKETBALL COURT AND A HALF LEMON/ORANGE TREE OUT BACK .INSIDE THE PLACE IS SPOTLESS NEW PAINT,THAT TIES THE GENTLY USED CARPET AND TAUPE AND BROWN TILE TOGETHER DOWNSTAIRS .THERES NEW HARDWARE THROUGH OUT. LIVE IN IT WHILE YOU MAKE THOSE LITTLE TWEEKS .THERES A LIVING ROOM ,DINING COMBO AND GREAT BIG FAMILY ROOM WITH A FIREPLACE .SNUGGLE UP WAITING FOR SANTA .QUARTER BATH DOWNSTAIRS AS WELL. ALL 4 HUGE BEDROOMS AND DEN CAN BE FOUND UPSTAIRS THERE ARE LARGE WALK IN CLOSETS IN THE BEDROOMS.LARGE LINEN,SEPERATE MASTER TUB AND SHOWER. 2YR OLD AC UNITS (2). LOTS OF GARAGE STORAGE..CLEAN CARPETS DOWN.ALLOWANCE UPSTAI

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3028 E Friess Drive Phoenix, AZ 85032

$579,995

3 Beds

2.5 Baths

2,032 SqFt

Status Active

MLS # 6755440

Property Type Single Family Residence

Price Type --

-HOA- GREAT LOCATION. This home is located in a highly desirable neighborhood that offers numerous amenities for its residents. 3 bedrooms 2 &1/2 baths and a loft that opens to a balcony with views of a spacious yard and pebble tec pool. The North/South exposure provides ample natural light, and the home boasts a large family room with a fireplace, separate living and dining areas, and a kitchen with big windows and NEW appliances! The balcony has recently been updated with a new coating. The backyard is perfect for play, with a grass area, covered patio, and a beautiful pebble tec pool. Conveniently located near the 51 and 101 freeways, this home has NO HOA and is a short walk from the highly acclaimed Great Hearts Public Charter School K-12.

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4387 N 203rd Avenue Buckeye, AZ 85396

$579,990

2 Beds

2 Baths

1,670 SqFt

Status Active

MLS # 6786187

Property Type Single Family Residence

Price Type --

Welcome to your dream home in Victory at Verrado! The spacious Bernstein floorplan greets you with a grand 12-foot entry and 10-foot ceilings throughout. The kitchen shines with white stacked glass cabinets, Quartz counters, a subway tile backsplash, a large island, and GE Profile stainless steel appliances, including a wall oven. Entertain in the coffered-ceiling great room, dining area, or on the covered patio for seamless indoor-outdoor living. The private home office offers a quiet retreat, while the luxurious primary suite boasts a spa-like bath, a large shower with a bench, and a walk-in closet. Additional highlights include pendant lighting, ceiling fans, window blinds, and owned solar. Perfect for your vibrant lifestyle! Up to $20K can be applied towards closing cost OR short / long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

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22685 E Saddle Way Queen Creek, AZ 85142

$579,990

3 Beds

2.5 Baths

2,506 SqFt

Status Active

MLS # 6740903

Property Type Single Family Residence

Price Type --

**This is a TO-BE-BUILT LISTING, this home is ready for personalization and can be built on your choice of homesite. This is an advertisement of our base price for this elevation and lot premiums may apply** Welcome to Ashton Woods newest community in Queen Creek - Madera Marquis - which features outstanding community amenities and convenient access to the 24 freeway and shopping. The open concept Topaz plan is highly sought after and is the decorated model floorplan with 3 bedrooms and 2.5 baths. Options for structural upgrades include adding a butler's pantry, teen room, 12'' sliding glass door and so much more. This home includes an open concept kitchen with granite countertops, 42'' upper cabinets, and stainless steel appliances . Amazing spa like primary suite with dual vanities, ample linen storage and separate tub and shower. This floorplan is accompanied by an oversized den and sizable secondary bedrooms. This home comes standard with 10' ceilings, front yard landscaping, paver driveway, and much more! ~There is a minimum option spend requirement on new build homes, please reach out to the sales office for additional details.~

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32405 N 122nd Lane Peoria, AZ 85383

$579,990

4 Beds

3 Baths

2,373 SqFt

Status Active

MLS # 6748747

Property Type Single Family Residence

Price Type --

MLS#6748747~January Completion! The Erikson floor plan at Mystic Discovery exemplifies open concept living and is perfect for entertaining on both floors! The first floor is the heart of the home, with an open main living area that holds a spacious gathering room with a casual dining area and an open kitchen. The designer kitchen features a large island and step-in pantry. A downstairs guest bedroom is located at the front of the home which is perfect for overnight guests. Upstairs, the owner's suite features a garden tub and shower and a spacious walk-in closet. A loft and two additional bedrooms and the laundry room round out this lovely home. Structural options include: paver front porch, 2' garage extension, super shower at owner's bath, and soft water loop.

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16728 W Saguaro Park Lane Surprise, AZ 85387

$579,990

3 Beds

2.5 Baths

2,529 SqFt

Status Active

MLS # 6770954

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. The Parklane floor plan offers 3 bedrooms, 2.5 baths, a 4' garage extension, no-step walk-in shower, and 8' interior doors. Additional highlights include built-in appliances, quartz kitchen countertops, a gas stub in the kitchen, a backyard perfect for BBQs, and a gas dryer connection in the laundry.

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16405 W Desert Mirage Drive Surprise, AZ 85388

$579,990

4 Beds

3 Baths

2,623 SqFt

Status Active

MLS # 6754285

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 with 4 bedrooms + study and 3 full baths. Multi slide door off the great room that leads out to the extended covered patio. Stainless steel gas appliance package with 30'' cooktop, wall oven, micro, and hood. Barnett Maple ''Boulder-(Gray) cabinets with 42'' kitchen uppers, pull out trash drawer with two bins. AZT Hana Sky quartz countertops in kitchen and at the enhanced kitchen tops. Stainless steel under mount single bowl sink in the kitchen. DT Broxburn Gray 6x24 plank floor with 5'' baseboards and 3 1/4'' door casings. 8' garage door with two remotes and so much more. Please verify all information with onsite agent. Thank you!

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16421 W Desert Mirage Drive Surprise, AZ 85388

$579,990

3 Beds

3 Baths

2,224 SqFt

Status Active

MLS # 6784421

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! Crimson floor plan sitting on a lot that is north/south exposure and backs to landscape area - NO two story homes on either side. Great room concept with 3 bedrooms + den with 2.5 baths and a 3 car garage. Paver drive, walk and entry. Extended covered patio perfect for entertaining. Bay window at owner's suite. Sonoma Maple Linen-off white cabinets with matte black hardware, 42'' kitchen uppers and a pull out trash drawer. Stainless steel gas appliance package with a 30'' cooktop, wall oven, micro and hood. AZT Quartz tawny countertops in kitchen and all baths except powder bath. Upgrade flooring includes Beaumont Olmo 7x24 plank tile in all areas of the home except bedrooms and closets and so much more. Please verify all information with onsite agent. Thank you!

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29317 N 31st Lane Phoenix, AZ 85083

$579,990

5 Beds

3 Baths

1,953 SqFt

Status Active

MLS # 6746684

Property Type Single Family Residence

Price Type --

Ask about special financing with preferred lender. This single-story home features ample space for growing families. Four bedrooms are lined up in a neat row, including the owner's suite, while an additional bedroom near the entry offers an ideal space for overnight guests. An open floorplan hosts the kitchen, dining room and Great Room with a spacious covered patio attached. Photos are renderings of a model home, not the actual home. A public report is available on the Arizona Department of Real Estate website.

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15635 W Montecito Avenue Goodyear, AZ 85395

$579,990

4 Beds

2.5 Baths

3,083 SqFt

Status Active

MLS # 6738508

Property Type Single Family Residence

Price Type --

Your DREAM home is here in Palm Valley! Bright & light interior showcases neutral paint, recessed lighting, and tile & soft carpet t/out. Featuring a spacious living/dining room and a separate family room w/SURROUND SOUND, you have ideal spaces for relaxation or gatherings! The large kitchen boasts granite counters, a walk-in pantry, a breakfast bar, cozy nook, wood cabinetry w/crown molding, & courtyard access. All bedrooms await upstairs! Oversized main bedroom has a double-door entry, BALCONY access, & a SEATING room! Its ensuite includes dual sinks, separate tub/shower, & a walk-in closet. Discover the entertainer's backyard with a covered patio, lush lawn, well-laid pavers, & a fenced pool for year-round enjoyment! Plenty of room for ALL your TOYS w/ and RV GATE & 3 CAR GARAGE. WOW!

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