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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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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1842 N Red Cliff Mesa, AZ 85207

$570,000

2 Beds

2 Baths

1,379 SqFt

Status Active

MLS # 6783900

Property Type Townhouse

Price Type --

Welcome to this exceptional 2-bedroom, 2-bathroom home nestled in the exclusive, gated community of Mountain Bridge. Upgraded and fully furnished, this home is the epitome of move-in ready, offering style, elegance and convenience for modern living. As you step inside, you're greeted by an expansive great room featuring soaring ceilings and an abundance of natural light pouring in through a glass sliding door. This inviting space seamlessly blends comfort and sophistication, making it perfect for both everyday living and entertaining. From the backyard, you can enjoy sweeping views of the desert wash, offering a private & serene landscape on a premium lot! Ultimate resort-style living at this community offers swimming pools, pickle ball/tennis courts, gym, rec center and so much more

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531 W Silver Creek Road Gilbert, AZ 85233

$570,000

4 Beds

2.5 Baths

2,020 SqFt

Status Active Under Contract

MLS # 6783620

Property Type Single Family Residence

Price Type --

ATTENTION: *Potentially* assumable 2.25% VA loan, restrictions apply, must qualify. Nestled in the desirable Madera Park neighborhood, this beautifully remodeled 2 story home offers style and space. This residence offers a thoughtful floorplan including a charming coffee bar and private space under the stairs for littles or pets. Samsung washer/dryer set conveys and features a deep folding shelf of stylish granite. Kitchen equipped with LG fridge, Samsung electric cooktop/oven and built-in micro. Backyard will welcome you all year round with a majestic ficus tree, sandbox play area, a sun-sail over the pebble-tec pool, and there are even producing grape vines! MUST SEE this one ASAP!

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15625 N Jerry Street Surprise, AZ 85378

New

$570,000

5 Beds

3 Baths

2,455 SqFt

Status Active

MLS # 6787673

Property Type Single Family Residence

Price Type --

Beautifully stunning 5-bedroom, 3-bathroom single level newer built surprise home. This home has upgrades throughout including marble floor throughout with no carpeting, upgraded baseboards, 9' ceilings and archways throughout, upgraded doors, fixtures window blinds and ceiling fans. This open floor plan home has a large living room and formal dining area with access easy access to the backyard patio. Stunning kitchen features granite countertops, tile backsplash, breakfast bar, upgraded soft-close cabinets, large island, separate walk-in pantry, gas range, dishwasher and refrigerator.

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28715 N 64th Drive Phoenix, AZ 85083

$570,000

3 Beds

2 Baths

1,820 SqFt

Status Active Under Contract

MLS # 6784043

Property Type Single Family Residence

Price Type --

Don't miss this open airy 3BR, 2BA floorpan with many modern amenities such as upgraded blackout shades throughout entire home. The kitchen is a chef's delight, featuring elegant white cabinets, a wall oven, microwave, gas stovetop, farmhouse sink, rounded quartz island & quartz countertops with a walk-in pantry. Included are a refrigerator and washer/dryer. Luxuriate in the spa like owners bathroom suite with an oversized tiled walk in shower w/bench, double sinks, and a large closet. Bedrooms are carpeted & tile flooring flows through main areas. A large coat closet & gas tankless water heater complete this inviting home! Enjoy outdoor living with a sliding door leading to a low-maintenance backyard with turf and brick accents, surrounded by mountain views and overlooking a scenic canal

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16180 W Glenrosa Avenue Goodyear, AZ 85395

$570,000

5 Beds

3.5 Baths

3,066 SqFt

Status Active

MLS # 6651477

Property Type Single Family Residence

Price Type --

Embrace the beauty of this wonderful 5-bedroom haven in Palm Valley! This home has a split floorplan, spacious primary bedroom with a remodeled walk-in shower, his and hers vanities and a walk-in closet. This home also features a MIL suite with it's own entrance from the courtyard and private bathroom PLUS an extended driveway with an RV Gate. The open-concept kitchen displays recessed lighting, a pantry, staggered cabinetry adorned with crown moulding, granite counters & backsplash and stainless steel appliances. Lastly, the backyard features a covered patio and a shimmering pool, perfect for warm summer days! Hurry! This gem will surely impress you!

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2135 S Bristol -- Mesa, AZ 85209

$570,000

4 Beds

3 Baths

1,883 SqFt

Status Active

MLS # 6709098

Property Type Single Family Residence

Price Type --

Nestled in the heart of coveted Augusta Ranch, this home epitomizes elevated living. With its spacious open-concept floor plan boasting four bedrooms and three baths, it's an entertainer's dream. The family room and inviting kitchen areas are ideal for hosting gatherings. Enjoy the beautiful low-maintenance backyard, complete with a large pool that can be enjoyed year around thanks to a gas heater addition (2023). Updates like a new roof (2023) and renovated bath fixtures add modern convenience, while the community's amenities, including an executive golf course, bar/grill, abundant events, parks, and a school, ensure a lifestyle of comfort and enjoyment. This home is a must-see!

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44562 W Sedona Trail Maricopa, AZ 85139

$570,000

6 Beds

3.5 Baths

4,019 SqFt

Status Active

MLS # 6720344

Property Type Single Family Residence

Price Type --

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3225 N Lost River Drive Camp Verde, AZ 86322

$570,000

4 Beds

3 Baths

3,640 SqFt

Status Active

MLS # 6727355

Property Type Single Family Residence

Price Type --

With a compelling offer, the seller is prepared to contribute to the buyer's interest rate buy-down or concessions. Updated 4 Bed, 3 Bath Home on 2 separate Parcels totaling over an Acre of Land. Brand New 2024 Roof. Brand New 2024 HVAC. All New LVP flooring & Fresh Carpet. Kitchen Boast New Quartz Countertops, Stainless Steel Appliances, & Tile Backsplash. Master Bedroom features Custom Walk-In shower, His & Her sinks, & Barndoor entry. New Light fixtures and Contemporary Fans throughout. Freshly Painted Inside & Out. Great for Animals or Extra Toys/RV's. Just Blocks away from the Verde River - Excellent Location!

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26028 N 66th Drive Phoenix, AZ 85083

$570,000

4 Beds

3 Baths

2,119 SqFt

Status Active

MLS # 6757394

Property Type Single Family Residence

Price Type --

Location, location, location! Attention: Seller is offering a $10,000 credit at closing towards buyer updating and/or upgrades! This home has energy saving feature upgrades as well with newly installed premium Andersen windows with a transferable warranty and a fully owned 5KW solar system to keep your energy bills low. In demand north Phoenix Eagle Ridge location with mountain views! Homes do not come up for sale frequently in this idyllic neighborhood. Close to shopping, schools, and parks. Multi-level open floor plan with expansive vaults and skylights to let in lots of light. Recently updated primary bath with huge walk in shower. Large yard and covered patio for entertaining. Inviting pebble-tec pool with a removable fence and beautiful water feature will captivate you! The main level has a convenient 4th bedroom for guests or as an in home office. The heart of the home, the kitchen, features multiple pantries with abundant storage and pull out drawers in convenient locations, as well as easy access to both the living room and family room. Newer high efficiency AC and air handler installed by current owner as well as water heater. Durable bamboo and tile flooring in all the high traffic areas of the home as well. Your new home awaits you!

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18531 W Thistle Landing Drive Goodyear, AZ 85338

$570,000

4 Beds

3 Baths

2,593 SqFt

Status Active

MLS # 6761534

Property Type Single Family Residence

Price Type --

Tucked within the breathtaking Estrella Mountain Ranch, this Next Gen home seamlessly blends privacy, elegance, and modern living. Situated on a private lot with serene views of a peaceful common area, this home offers a rare opportunity for multigenerational living with two homes under one roof. Thoughtfully designed, this Lennar® Next Gen model includes a separate suite complete with its own entrance, kitchen, living room, bedroom, and bathroom—ideal for extended family, guests, or even a private office. The possibilities are limitless! Located in the expansive 20,000-acre master-planned community of Estrella in Goodyear, residents are welcomed into a lifestyle defined by natural beauty and world-class amenities. Estrella features over 500 acres of parks and open space including 72 acres of lakes for boating and fishing. Residents enjoy exclusive access to the Starpointe Residents Club, two fitness centers, a refreshing water park, and miles of scenic hiking trails and bike paths. Sports enthusiasts can take advantage of basketball, volleyball, pickleball, and tennis courts. For golf lovers, the nearby Jack Nicklaus-designed championship course at The Golf Club of Estrella is a dream come true. And for those seeking relaxation, Estrella's resort-inspired atmosphere, surrounded by the Sierra Estrella Mountains and the Sonoran Desert Valley, offers a peaceful retreat just 17 miles from downtown Phoenix. This home offers more than just a place to liveit opens the door to the unrivaled lifestyle Estrella Mountain Ranch is known for. This community truly has something for everyone.

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11541 E Corbin Avenue Mesa, AZ 85212

$570,000

4 Beds

2.5 Baths

2,373 SqFt

Status Active

MLS # 6767202

Property Type Single Family Residence

Price Type --

This beautiful 4-bedroom, 2.5-bath home is located in the highly desirable Warner Enclave subdivision in Mesa. With 2,377 sq. ft. of upgraded living space, this 2-story home offers a bright and open floor plan perfect for entertaining. The kitchen features stunning Valhalla granite countertops, soft-close cabinets, a large pantry, and stainless steel appliances, including a gas range. The primary suite boasts a spacious walk-in closet, dual vanities, and a separate tub and shower. Additional features include a cozy upstairs loft, a dedicated office space, and a convenient upstairs laundry. The home is ENERGY STAR certified with a low HERS rating of 51, ensuring excellent energy efficiency. Outside, you'll find a well-maintained desert landscape with a covered patio, perfect for outdoor relaxation. Located near top-rated schools such as Queen Creek Unified District, this home also offers quick access to shopping, dining, and entertainment. Plus, with no rear neighbors, you'll enjoy added privacy. Don't miss out on this gemschedule your tour today!

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