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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19026 W Stella Avenue Waddell, AZ 85355

$570,990

4 Beds

2.5 Baths

2,399 SqFt

Status Active

MLS # 6745705

Property Type Single Family Residence

Price Type --

The beautiful Irwin floorplan has a 3 car tandem garage, 4 bedrooms and two and a half bathrooms. 9' ceilings, wood plank style tile floorings throughout the home, 8' interior doors, gourmet kitchen package, kitchen tile backsplash and huge island makes this home the perfect spot to entertain! This home is built zero energy ready with spray foam insulation, 2 x 6 construction and 85% offset solar system included giving you a HERS rating in the single digits! This home gives you almost no energy bill and is ready now!

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23055 E Watford Drive Queen Creek, AZ 85142

$570,990

4 Beds

3.5 Baths

2,688 SqFt

Status Active

MLS # 6770743

Property Type Single Family Residence

Price Type --

To Be Built of our very popular Pebble single story plan. This plan boasts a 3 car garage, 4 bedrooms, 3.5 baths and an office. Build time is approximately 7 months. We offer a full design center experience where you can colorize the home to your liking. Options and upgrades may increase the price of the home. Please ask about our special financing promotions.

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15922 W Electra Lane Surprise, AZ 85387

$570,699

4 Beds

3 Baths

2,229 SqFt

Status Active

MLS # 6719014

Property Type Single Family Residence

Price Type --

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15922 W Electra Lane Surprise, AZ 85379

$570,687

4 Beds

3 Baths

2,229 SqFt

Status Active

MLS # 6770484

Property Type Single Family Residence

Price Type --

Welcome to Escalante! New Home Ready for immediate Occupancy. This single level 2229 SF, 4 BR, 3 BA with a 3 car garage is located on an interior NS facing homesite surrounded by single level homes, NO two Stories! Exciting included features! Upgraded white cabinets, 42'' Uppers, Granite Countertops, Tile Backsplash, Plank Tile on the floors in all traffic areas! 10' ceilings, 8' interior doors,, garage service door, large extended patio, tankless water heater, front yard landscaping with drip system, PLUS so much more. Neighborhood includes tree lined streets, Parks and Aquatic Center. Energy Star & Indoor Air Plus Certified for more energy savings! 5 Star Resort Style Amenities include, hiking trails, Aquatic Center, 8 select parks, Picnic Ramada's, Basketball, 3 Pickle Ball courts, bocce ball courts, 18 hole disc golf course, and a Zip Line for the kiddos! This home is Energy Star and Indoor Air Plus qualified. Includes full Builder Warranties plus so much More..

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11169 N Par Drive Tucson, AZ 85737

$570,000

5 Beds

3 Baths

2,904 SqFt

Status Active

MLS # 6781986

Property Type Single Family Residence

Price Type --

Spacious 5 bedroom, 3 bath home with a 3 car garage. Open floorplan with family room and formal dining room/living room. Open kitchen with breakfast nook. One large bedroom downstairs and the rest of the bedrooms upstairs. Master suite upstairs with large walk in closet and balcony overlooking the backyard and pool. Landscaped front and backyard with no backyard neighbors. Come show today.

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11226 E Posada Avenue Mesa, AZ 85212

$570,000

2 Beds

2 Baths

1,718 SqFt

Status Active

MLS # 6728991

Property Type Single Family Residence

Price Type --

Live your best life in the lovely Sunland Springs Village (SSV) 55+ Adult Community. This cozy 2 bd/2bth plus den has all the right touches. Pride of Ownership on Display! Enjoy the Living Area with Electric Fireplace; Porcelain Tile Wall, Stunning Wall of Glass looks out to Extended Patio w/ Travertine Tile, Pergola and 2 firepits. Stellar landscape design; Lush yard with sweet orange and lemon trees. Solar Roof Panels provide energy saving benefits. Plantation shutters adorn the windows. Extended kitchen with granite countertops and energy efficient appliances. This is not just a house but a HOME! Enjoy resort like community amenities: Rec Center, Clubhouse, Ping Pong, Billiards, Golf, Tennis, Pickleball, Shuffleboard, Heated Pools, Jacuzzi, Exercize Rooms, Yoga; SSV has it all! This is a Must See! Please visit the SSV HOA website to learn about the many clubs and activities available in this active adult community:

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20515 N 264th Avenue Buckeye, AZ 85396

$570,000

2 Beds

2 Baths

2,095 SqFt

Status Active

MLS # 6741698

Property Type Single Family Residence

Price Type --

VALUE! PAID SOLAR LEASE, PAID CFD, NEWER HVAC AND APPLIANCES. This 2 bed/2 bath/Den Destiny model has fabulous golf course views and sets on a quiet street yet it's close to the Sage Recreation Center, the Grill and the Golf shop (location, location, location). This is a quality Del Webb built home with many upgrades. See a more complete list in the Documents tab.

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4216 N 27th Street Unit 106 Phoenix, AZ 85016

$570,000

3 Beds

2.5 Baths

1,683 SqFt

Status Active

MLS # 6756185

Property Type Townhouse

Price Type --

This stunning and spacious townhouse is situated in the Biltmore area and boasts impressive 18-foot ceilings in the main living room, a cozy fireplace, and 10-foot ceilings in each of the bedrooms as well as a two-car garage with epoxy flooring. The expansive primary bedroom includes a private balcony, a generous walk-in closet, and a bathroom featuring an oversized soaking tub and recently remodeled shower. The charming courtyard has been enhanced with turf and pavers, creating a lovely outdoor retreat. Conveniently located near restaurants, shopping, the airport, and major freeways, this home is situated in an exclusive part of Phoenix, in close proximity to Arcadia, Scottsdale, and Paradise Valley.

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1150 S Karen Lane Gilbert, AZ 85296

$570,000

3 Beds

2 Baths

1,593 SqFt

Status Active

MLS # 6767613

Property Type Single Family Residence

Price Type --

Beautiful, and very well-maintained home in a great location! Home features big open space with vaulted ceiling. kitchen with stainless steel appliances and lots of cabinets with granite counter tops. A nice size master suite with walk-in closet and private access to backyard, and sparkling pool with waterfall feature. Three bedrooms plus an office. Easy maintenance front and backyard landscape. Home located in a nice quiet cul de sac. Move in ready with NEW roof (2021), AC unit (2022), water heater (2024), and irrigation system (2023) throughout the lot with extra new lines for future planting. Greenfield Lakes has an executive length 18-hole golf course and driving range. Located near Santan Mall, Top Ranked Restaurants, and highly desired School District!

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20414 E Happy Road Queen Creek, AZ 85142

$570,000

4 Beds

3 Baths

2,185 SqFt

Status Active

MLS # 6781013

Property Type Manufactured Home

Price Type --

Fantastic breathtaking mountain views, over an acre of property and NO HOA!!! Size does allow for horses. Spacious floor plan! Master has two separate bathrooms! Kitchen open to family room, tons of cabinet space. Corner Lot. North South facing exposure. Entire property surrounded by no climb fence. This home boasts with updates throughout. This property provides a blank canvas for anyone to make this their dream property! Conveniently close to amenities.

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17416 E Windstone Trail Rio Verde, AZ 85263

$570,000

4 Beds

2 Baths

2,331 SqFt

Status Active

MLS # 6783005

Property Type Single Family Residence

Price Type --

HOME IS COMPLETE AND MOVE IN READY NEW BUILD ON AN ACRE AND A QUARTER LOT WITH BREATHTAKING MOUNTAIN VIEWS. THIS 4 BEDROOM HOME HAS 2331 SQFT, OPEN KITCHEN WITH UPGRADED CABINETS, ISLAND, GRANITE COUNTERS, STAINLESS STEEL APPLIANCES, DOUBLE OVENS, 36'' COOKTOP, CUSTOM EXHAUST HOOD, MICROWAVE, FARMER SINK AND A WALK IN PANTRY. GREAT ROOM WITH FIREPLACE. MASTER BEDROOM HAS A LARGE WALK IN CLOSET, 36'' HIGH VANITY WITH DUAL SINKS AND GRANITE TOPS, SEPARATE TUB/SHOWER WITH TILE SURROUNDS. EXTRA LARGE LAUNDRY ROOM WITH DEEP SINK.

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1724 W Hemingway Lane Anthem, AZ 85086

$570,000

5 Beds

3 Baths

2,168 SqFt

Status Active

MLS # 6785447

Property Type Single Family Residence

Price Type --

Nestled in the heart of the desirable Anthem Parkside neighborhood, this spacious 5-bedroom, 3-bathroom home offers a blend of comfort and convenience. Located directly across from a beautiful park, it provides serene views and easy access to outdoor recreation right at your doorstep. This home has been recently updated with a brand-new AC unit, water heater, and fresh paint throughout, ensuring energy efficiency and a fresh, modern feel. The master bathroom has also been completely renovated, providing a luxurious retreat within the home. With plenty of space for family and guests alike, this home is move-in ready and primed for memorable gatherings and everyday relaxation.

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