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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11520 E Kiva Avenue Mesa, AZ 85209

$559,900

2 Beds

2.5 Baths

1,993 SqFt

Status Active

MLS # 6776202

Property Type Single Family Residence

Price Type --

Welcome to the highly desirable Adult Community of Sunland Spring Village, where your retirement home becomes a reality! Discover this gorgeous home, boasting stone accents, a desert front yard, a 2-car plus a golf cart garage, and an inviting front patio. The lovely interior impresses you with a spacious living/dining room, vaulted ceilings, designer paint, a kitchen hutch, and wood-look tile flooring. Kitchen is fully equipped with ample counter space, panel lighting, wood cabinetry, and a breakfast nook with a bay window. The primary retreat has tray ceilings, plush carpeting, an immaculate ensuite with dual sinks, and a walk-in closet. Attached workshop for your creativity! Unwind under the covered patio in the tranquil backyard with artificial turf and colorful vegetation. Act NOW!!

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9812 E Pampa Avenue Mesa, AZ 85212

$559,900

5 Beds

2 Baths

2,472 SqFt

Status Active Under Contract

MLS # 6752414

Property Type Single Family Residence

Price Type --

This 5 bedroom single level home is ready for new owners! With an oversized guest quarters/living space this property is perfect for multi generational living or an oversized office/game room. Equipped with NEW AC Units and a bright open floor plan you will love the layout of this well cared for home. The kitchen has a large island, tons of cabinet space and a large dining table for gathering. With a walk in pantry and oversized laundry there's plenty of room for storage. The oversized 3 car garage is air conditioned and has plenty of room for a workshop or gym. In the backyard you'll find a covered patio, garden with citrus and pomegranates, a water retention system and irrigation, as well as chicken coop! With quick freeway access you will love this location!

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22408 N Las Vegas Drive Sun City West, AZ 85375

$559,900

2 Beds

2 Baths

2,033 SqFt

Status Active

MLS # 6745215

Property Type Single Family Residence

Price Type --

Step inside this beautifully updated 2-bedroom plus a den, home in the sought-after Sun City West community. Freshly painted throughout & featuring brand-new wood-look tile flooring in the main living areas. The kitchen is showcasing sleek quartz countertops, white wood shaker cabinetry, chic shiplap backsplash & stainless steel appliances. The primary suite is boasting a generous walk-in closet & plush new carpet. The bathroom features unique mosaic tile, a black vanity, & a quartz countertop, creating a sophisticated & spa-like environment. The spacious 2 car garage is equipped w/ ample storage cabinets. The backyard has a covered patio, ideal for relaxing & enjoying the beautiful desert landscaping that surrounds it. To top it all off, this home also features a brand-new roof & HVAC.

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20713 N 59th Drive Glendale, AZ 85308

Open House

$559,900

4 Beds

2 Baths

1,854 SqFt

Status Active

MLS # 6745509

Property Type Single Family Residence

Price Type --

Beautiful, well kept home conveniently located in the Tuscany Point neighborhood in Arrowhead Ranch. This home has mountain and lake views and sits near the golf course! The home has been updated over the years with too many upgrades to list! An open concept kitchen, grey cabinets, stainless steel appliances, wood like tile, and a newly remodeled master bathroom (2021) that includes a walk in shower and a free standing tub! The paved backyard has a sparkling play pool (resurfaced in 2020) with a waterfall and room to entertain! Owned soft water system (2023) and leased Solar panel with fixed rate! Lots of easy to maintain landscape and great neighborhood! Schedule a showing today!

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13029 W Campbell Avenue Litchfield Park, AZ 85340

$559,500

5 Beds

3 Baths

2,779 SqFt

Status Active

MLS # 6782606

Property Type Single Family Residence

Price Type --

Your beautiful 5 bedroom, 3-bathroom home awaits you in the sought after Wigwam Creek South neighborhood! The inviting courtyard is perfect for sitting outside on those cooler AZ nights. When entering the home, you walk into the formal living room & dining room great for holiday gatherings. Step inside to an open-concept layout, where a bright great room flows into a lovely kitchen with stainless steel appliances, plenty of cabinets, Corian countertops, an island perfect for entertaining & porcelain sink with window above looking out to the backyard. The bedroom downstairs with a full bath is perfect for guests. The laundry room is downstairs with cabinets & attached countertop space. Going up the beautiful wood banister stairs you will find 4 more bedrooms including the owner's suite. The spacious owner's suite includes a living/sitting room, walk-in closet and an en-suite bath with a soaking tub and large walk-in shower with sitting area. Loft/landing area upstairs makes for a great desk station Outside, enjoy a landscaped backyard with a covered patio, grass and raised flower beds, ideal for relaxation. Bring your toys there is plenty of space with the RV gate and 3 car garage. This home is located near top-rated schools, freeways, parks, shopping & dining.

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9006 W Luke Avenue Glendale, AZ 85305

$559,500

4 Beds

2 Baths

1,725 SqFt

Status Active

MLS # 6777178

Property Type Single Family Residence

Price Type --

BEST HOUSE ON TOUR! Stunning, brand new on corner lot, lightly lived in, 4 bed/2 bath/2 car garage, fully furnished gem in the highly sought after StoneHaven community. Inside, feel the bright and welcoming atmosphere of the open concept, split floor plan. Everything in this house is brand new. Kitchen boasts a center island, granite countertops, deep/wide ss sink, gas stove, Frigidaire double doors top/freezer bottom refrig, W/I pantry, Whirlpool dishwasher and built in microwave. The LR has big screen TV, projector w/hide away screen and an electric fireplace. The primary suite has double sinks, granite countertops, W/I closet, W/I shower, private toilet and linen closets. Garage has a Nordic Track workout center, Echelon stationary bike, tankless Rheem hot water heater & is equipped w/EV charging plug. Full house sec syst included. Community offers a pool, walking/biking paths, parks, playgrounds etc. Minutes away from Westgate Entertainment Center, State Farm Stadium, shopping, restaurants etc.... This house is a must see; don't miss it. HAVE YOUR AGENT REACH OUT FOR INFORMATION ON $7500 IN PREFERRED LENDER CREDITS ON THIS HOME.

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7835 E Lakeview Avenue Mesa, AZ 85209

$559,500

2 Beds

2 Baths

1,946 SqFt

Status Active

MLS # 6760616

Property Type Single Family Residence

Price Type --

Location, check; Views, check! 2 bed/2 bath golf home with 2023 roof located a short walk to the restaurant, Pro Shop and community amenities. Watch the golfers on Hole No. 1, wind down the day with views of community ponds, or sip coffee as the sun rises over the Superstition Mtns. The original owners created unique customizations including custom wood valences over several windows, built-in Mahogany china hutch in formal dining room, Mahogany shelving surrounding the family room's electric fireplace, oak plank flooring with accents, plantation shutters, unique attic feature, extended garage and many more. As you enter from the extended north-facing covered patio and through the stained-glass windowed front door, you're greeted by a vaulted living room which gives access to the central formal dining room with striking views of the golf course. The kitchen, which provides plenty of counter & cabinet space, is brightened from the south-facing golf course window. Entertain for any occasion, whether it's BBQing in the backyard, unwinding at the high-top table overlooking golf course, casual meal at the eat-in kitchen area, or a beautiful dinner in the formal dining room. The spacious primary bedroom with south-facing windows provides space for a king bed & multiple dressers including the private bathroom featuring dual sink vanity, private room with marble walk-in shower and stool as well as extra-large walk-in closet. Visiting guests will appreciate the privacy of the guest bedroom split from the primary bedroom and the guest bathroom featuring tub/shower combo is right next door. Just off the kitchen is the spacious laundry room featuring cabinets and counterspace for home office, craft or sewing room. The south-facing back covered patio features beautiful golf course views as well as the community ponds with color changing lighted water fountains. The extended double garage features cabinets and closet. Make this home your own and start enjoying the benefits of living on SVE's beautiful golf course. The saying there is something for everyone is true in this 55+ amenity-packed community. The community also has a public golf course, restaurant, pickleball courts, tennis courts, state-of-the-art gym, beautiful woodshop, library, computer club, stitcher's room, two swimming pools and a lap pool, two hot-tubs and Clubs for all interest and hobbies.

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9660 S Centennial Road Apache Junction, AZ 85120

$559,490

4 Beds

3 Baths

2,264 SqFt

Status Active

MLS # 6786636

Property Type Single Family Residence

Price Type --

Welcome to Blossom Rock! The east valley's newest master planned community. With views of the Superstition Mountains and a wealth of amenities currently in the making including three community parks, dozens of neighborhood parks, a community school, miles of trails, beautiful lakes, and indoor and outdoor gathering spaces all meant to serve as the backdrop of the calendar of signature events and annual celebrations currently being created. A copy of the public report can be found on the AZ Dept of Real Estate's website.

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4069 W Nora Drive San Tan Valley, AZ 85144

$559,465

4 Beds

3.5 Baths

2,762 SqFt

Status Active

MLS # 6723176

Property Type Single Family Residence

Price Type --

Beautiful new build with no one behind you and views to the San Tan mountains. Gourmet kitchen layout, stainless steel appliances, 8' Interior doors.

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26191 S 228th Street Queen Creek, AZ 85142

$559,222

3 Beds

2.5 Baths

1,956 SqFt

Status Active

MLS # 6743326

Property Type Single Family Residence

Price Type --

This home offers 1954 sq ft, 3 bedrooms, 2.5 baths, enclosed study, and 2 car garage. Professionally designed with gourmet kitchen includ GE appliances and refrigerator, upgraded plank tile flooring, and finishes through out. Our homes include 10 ft ceilings, 2x6 construction, and amazing warranty service. Make new friends in the highly desirable community of Harvest, offering 2 pools, catch and release fishing, parks, splash pads, and walking trails.

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28289 N 134th Avenue Peoria, AZ 85383

$559,179

3 Beds

2 Baths

1,821 SqFt

Status Active

MLS # 6786784

Property Type Single Family Residence

Price Type --

A soon to be complete single-story Copper with a Mid-Century Modern exterior elevation style. This 3-bedroom home plus a flex room offers 2 baths and a 2 car garage. The kitchen features stainless steel appliances and stylish grey tone cabinetry and beautiful white quartz countertops. Throughout the home, find upgraded baseboards and wood-like tile. The home and community are at the base of a mountain and are near Vistancia. Home warranty included.

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12311 W Parkway Lane Avondale, AZ 85323

$559,000

4 Beds

3 Baths

2,272 SqFt

Status Active

MLS # 6782987

Property Type Single Family Residence

Price Type --

4 bedrooms and 3 baths, including one with private hallway and bath, perfect for family or guests. This high-end home stands apart in a class of its own with 10' ceilings, expansive living with an open concept and impressive windows that spill the beautiful Arizona sunshine onto the upgraded tile floors. The incredible Gourmet Kitchen has a classy look with shaker cabinets, gas cooktop with GE Stainless steel appliances, quartz countertops, tiled backsplash and oversized islands gives you a culinary kitchen fit for a chef. The luxuries continue on the outside as the covered outdoor patio extends onto an oversized lot with tons of room for outdoor fun. The 16' slider opens to beautiful Arizona outdoor living. 2X6 CONSTRUCTION; EXTENDED NEW HOME WARRANTY.

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