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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1516 E Dublin Street Gilbert, AZ 85295

$560,000

3 Beds

3.5 Baths

2,152 SqFt

Status Active

MLS # 6766388

Property Type Single Family Residence

Price Type --

Enjoy Arizona's heavenly weather and fun entertainment in this gorgeous move-in ready home! After being welcomed in by the lovely paved & turfed yard, this immaculate home has a spacious feel with light color tones. This newer 2020 build consists of all 3 bedrooms with their own ensuite restrooms and walk-in closets!!! Tons of storage space throughout, a convenient half bath downstairs and upstairs laundry. Just minutes away from the freeway, downtown Gilbert, and San Tan Village...This gorgeous and peaceful community comes with a heated pool for your enjoyment. What a dream! Even all the furnishings available on a separate bill of sale!

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2114 S El Marino -- Mesa, AZ 85202

$560,000

3 Beds

2 Baths

1,822 SqFt

Status Active

MLS # 6769790

Property Type Single Family Residence

Price Type --

Remodeled home in prime location! New luxury vinyl flooring and baseboards, new carpet*Gormet kitchen with new stainless appliances, quartz countertops, modern wood shelving, recessed lighting, white shaker cabs, pendant lighting, large island with breakfast bar and extra storage, built in microwave all open to a dining/living room perfect for entertaining*Oversized master bedroom w/private exit to backyard, oversized closet*New bathroom vanities in both bathrooms*Cozy wood burning fireplace*Picture windows throughout bringing in natural sunlight*Freshly painted inside and out*New landscaping*Peaceful atrium with private access from the bedrooms and entrance*New fans/fixtures/interior doors*

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11016 W Harrison Street Avondale, AZ 85323

$560,000

5 Beds

3 Baths

2,720 SqFt

Status Active

MLS # 6774304

Property Type Single Family Residence

Price Type --

Coming soon! Discover this stunning Tourmaline home with an expansive, inviting backyard featuring pavers, artificial turf, and ample space for outdoor living. This beautifully designed home offers a convenient downstairs bedroom and full bath, perfect for a guest suite. An entertainer's dream, it boasts a spacious open-concept great room ideal for hosting gatherings. The modern kitchen shines with quartz countertops, 42'' cabinets, and a sleek, stylish design perfect for cooking and entertaining. Walking distance to the Avondale Aquatic Center! Don't miss this opportunity to own a beautifully crafted home with impressive features inside and out!

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4037 E Marshall Avenue Gilbert, AZ 85297

$560,000

4 Beds

2 Baths

1,980 SqFt

Status Active

MLS # 6774788

Property Type Single Family Residence

Price Type --

Don't miss this single level 4 bedroom home in the desirable Power Ranch neighborhood in Gilbert. This home has been lovingly taken care of and upgraded throughout. Enjoy summer days in the sparkling pool and beautifully landscaped backyard. Power Ranch neighborhood offers gorgeous parks, community pools, and walking/biking trails. Located in Higley Unified School district with highly rated schools. You will love everything about this home and neighborhood.

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4518 E Ivanhoe Street Gilbert, AZ 85295

$560,000

4 Beds

2.5 Baths

2,426 SqFt

Status Active

MLS # 6776195

Property Type Single Family Residence

Price Type --

Welcome to this charming 4-bedroom, 2.5-bath, 2 Car garage w/ Huge backyard, Full of potential! Situated in a sought-after area of Gilbert, this property features a spacious layout with plenty of room for family living and entertaining. While it hasn't been updated, its solid structure and care make it an excellent canvas for your personal touches. Enjoy the convenience of nearby schools, parks, and local amenities in this friendly neighborhood. Being sold as-is, this home offers a unique opportunity for buyers ready to invest in their vision. Don't miss the chance to turn this well-kept house into your dream home!

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5028 E Roy Rogers Road Cave Creek, AZ 85331

$560,000

2 Beds

2 Baths

1,227 SqFt

Status Active

MLS # 6779786

Property Type Single Family Residence

Price Type --

Don't miss out on this updated home in Tatum Ranch on a quiet street. Home has a brand new roof, fresh paint on interior and exterior, hardwood flooring throughout, renovated bathrooms, new lighting, new Anderson windows, new landscaping in front yard, new drip system, added a BBQ Grill, R/O system, new blinds in each room, epoxy garage floor and so much more! Home is in meticulous condition, and perfect for the second home located so close to North Scottsdale shopping, horse back riding barns, Mayo Clinic, Desert Ridge, and 101 freeway access. Charming backyard has built-in gas BBQ Island, and firepit. Office/Den is the perfect size to make a 3rd bedroom if needed. Inquire about costs, we have a plan all ready for you! Ready for you to move into!

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7637 N 46th Drive Glendale, AZ 85301

$560,000

3 Beds

2 Baths

2,757 SqFt

Status Active

MLS # 6777823

Property Type Single Family Residence

Price Type --

Welcome to your new home! A beautiful secluded neighborhood in the heart of the city with NO HOA. The home offers endless potential with many updates such as: an open kitchen, cabinets, countertops, SS appliances, tile, baseboards, fresh interior paint, and so much more. You will fall in love with the ATRIUM in the middle of the home. Come fall in love with this property! It also offers a private pool and an Arizona room to cool off in the warm summer days. The property boasts a three car garage with plenty of space for the family!

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22364 N 67th Drive Glendale, AZ 85310

$560,000

3 Beds

2 Baths

1,601 SqFt

Status Active

MLS # 6781784

Property Type Single Family Residence

Price Type --

Welcome to this beautiful single-story home in the desirable Hillcrest neighborhood! This home offers great curb appeal with lush green grass, beautifully designed paver walkways and an inviting patio. Every detail thoughtfully designed, from the granite countertops and large format tile flooring to fresh interior paint and contemporary window shades. This home offers a bright and airy feel with a spacious open great room floor plan, vaulted ceilings, and a split layout offering a private primary suite. There are three generously sized bedrooms and two well-appointed bathrooms. Located in a prime neighborhood, this home is within walking distance of schools, easy freeway access, shopping and a large community park just around the corner. The backyard is ideal for gatherings, with vibrant green grass, a covered patio for al fresco dining, and an RV gate offering extra storage and accessibility. Don't miss out on this exceptional, move-in ready home!

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19895 W Annika Drive Litchfield Park, AZ 85340

$560,000

4 Beds

3.5 Baths

2,605 SqFt

Status Active

MLS # 6780287

Property Type Single Family Residence

Price Type --

Fantastic two-story home in Canyon Views! Sits on a corner lot, this beauty offers 4 beds, 3.5 baths, RV gate, & a 2-car garage w/paver driveway. Fabulous interior showcases tons of natural light, plantation shutters, neutral paint, and tasteful flooring - tile & plush carpet. You'll LOVE the formal living room and the open-concept family room w/high ceiling! The kitchen boasts SS appliances, granite counters, tile backsplash, recessed lighting, wood cabinetry, a pantry, and an island w/breakfast bar. Large main bedroom is downstairs, offering an ensuite with dual sinks & a walk-in closet. A versatile loft awaits upstairs, along with the other bedrooms. Check out the spacious backyard, featuring a covered patio! With room for a pool, you can make it a complete outdoor oasis. Welcome home!

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4532 E White Aster Street Phoenix, AZ 85044

$560,000

4 Beds

2 Baths

1,682 SqFt

Status Active Under Contract

MLS # 6777443

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This beautifully remodeled 1,690 sq ft residence features 4 bedrooms and 2 baths. The open concept layout seamlessly connects the living room, dining area, and updated kitchen, which boasts custom cabinetry with slide-outs, a state-of-the-art induction range, and a quiet dishwasher, all highlighted by elegant Dekton countertops. Newly upgraded fixtures throughout the home, shutters & both bathrooms upgraded as well. Step through the French doors to a covered patio with a bead board ceiling and custom BBQ area adorned with Italian tile, large propane fireplace & open to a stunning propane gas-heated pool and spa, newly renovated in 2024. Enjoy the comfort of an electric air conditioning system, replaced in 2019. All well maintained and move-in ready. The two-car garage offers ample storage with cabinets and professional flooring. The primary suite features a bay window and walk-in closet, while versatile bedrooms include a fourth room that can serve as a den or office. Both bathrooms have been stylishly remodeled, and the front yard showcases drought-tolerant landscaping. This charming home perfectly blends modern amenities with inviting outdoor spaces!

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11265 E Ocaso Avenue Mesa, AZ 85212

$560,000

2 Beds

2 Baths

1,711 SqFt

Status Active Under Contract

MLS # 6785988

Property Type Single Family Residence

Price Type --

Home, sweet home! This gorgeous fully furnished residence in Sunland Springs is looking for its new owners! Featuring a split floor plan w/ beautiful mountain views from the front patio, low-care landscape, and a 2 car garage plus a golf cart garage! Discover a spacious great room w/tall ceilings, plantation shutters, and neutral palette throughout. The stunning eat-in kitchen is comprised of modern wood cabinetry w/crown moulding, quartz counters, a walk-in pantry, stainless steel appliances, pendant & recessed lighting, a charming island, and a peninsula w/a breakfast bar. You'll love the primary bedroom, showcasing soft carpet, a walk-in closet, and a private ensuite w/dual sinks. Double doors open up to a sizeable den, ideal for an office. Walking distance to nearby amenities! Also including a quaint backyard w/a covered patio and extended paver seating area, this home has it all! Act now before it's gone!

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2261 E Fairbrook Street Mesa, AZ 85213

New

$560,000

3 Beds

2 Baths

1,838 SqFt

Status Active

MLS # 6784089

Property Type Single Family Residence

Price Type --

This unique property on a HUGE corner lot is sure to catch your eye! Not only do you have the 2-Car Garage (wall AC unit inside) with an attached office/man cave. But additionally there is a detached 2.5 car garage/shop (also has AC). The shop has a decked attic for storage and single roll up door straight into the back yard! You'll enter the residence through a beautiful courtyard and find all new vinyl plank floors throughout the entire house. Formal Dining Area. Sunken family & living rooms. New bathroom cabinets & countertops. Cozy up in the Family room by the wood burning fireplace. Covered patio/breezeway with kitchen window passthrough counter. Beautifully maintained Salt Water pool and a brand new RV Gate.

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