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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855 S Henry Lane Gilbert, AZ 85296

$550,000

3 Beds

2.5 Baths

2,467 SqFt

Status Active

MLS # 6784845

Property Type Single Family Residence

Price Type --

Custom kitchen white cabinetry w/door hardware, backsplash, stainless steel appliances, granite countertops, breakfast bar & RO system*Office w/cabinets & drawers with glass w/whiteboard backsplash to take notes as well as a black tiled accent wall*French doors to main suite offering diagonal wood floors, stone tile accent wall, W-I closet w/custom shelves, highly upgraded bathroom featuring basket weave tile pattern backsplash, high end cabinetry, glass sinks under sink lighting, jet tub, tiled glass shower*Flush mounted speakers*Large laundry room w/ample amount of cabinetry*Molding around doors/windows*Iron railing staircase*Elegant lighting throughout*Shutters throughout*Freshly painted interior*Elegant glass front door*Formal dining w/custom tray ceiling* 200 SF climate controlled bonus room w/surround sound(3rd car garage has been converted into bonus room*) Easy access to San Tan Village, the 202 freeway & Mesa Gateway Airport ASU Polytechnic campus, Hospital, Topgolf, shopping, desert sky regional Park, golf*MaryLou Fulton Aquatic Center, free of charge to Cooley Station residents! Enjoy barbecuing, basketball, swimming and a state-of-the-art play park!

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1325 Tanglewood Road Prescott, AZ 86303

$550,000

4 Beds

3 Baths

2,139 SqFt

Status Active Under Contract

MLS # 6775016

Property Type Single Family Residence

Price Type --

Set amidst the Ponderosa Pines in the highly desirable Haisley Homestead neighborhood, this tastefully updated single-level home is the perfect Prescott retreat. Featuring two ensuite bedrooms, this home has been beautifully upgraded throughout. Enjoy new luxury vinyl plank flooring in the main living areas, and freshly carpeted bedrooms for added comfort. The countertops have been replaced with a stylish mix of Corian and quartz, paired with fresh two-tone paint, five new solar tubes, modern light fixtures, and kitchen upgrades. The HVAC system was replaced five years ago, and a new roof was installed within the last couple of years, ensuring peace of mind for the new owners. The potential for dual master suites makes this an ideal getaway for families looking to escape the valley heat. The home boasts a large driveway with extra parking, in addition to the two-car garage with built-in storage shelves. Haisley Homestead is located just a mile from Prescott's new Bean Peaks Mountain Bike Park at White Spar Campground, offering nearby access to hiking trails in the Prescott National Forest, including the picturesque Goldwater Lake trail. The backyard features a covered patio, perfect for transforming into your own private escape with additional landscaping. A single-level home with four bedrooms, a two-car garage, and all the amenities of southwest Prescott at this price point is a rare find. Plus, enjoy a reasonably priced HOA that includes access to a swimming pool, tennis, and pickleball courts. Located within 5 minutes of Prescott's downtown courthouse square, this wonderfully maintained home is ready for you to make it your own!

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7005 E Russell Street Mesa, AZ 85207

$550,000

3 Beds

2 Baths

1,756 SqFt

Status Active Under Contract

MLS # 6774932

Property Type Single Family Residence

Price Type --

**Beautifully Upgraded Single-Level Home in Las Sendas!** Welcome to this freshly updated 3-bedroom, 2-bathroom home in the desirable Las Sendas community. Recent upgrades include new paint throughout, elegant laminate floors, and stylish light fixtures in every room. The kitchen features brand-new quartz countertops, a new microwave, and an island, making it perfect for casual dining and entertaining. It opens up to a cozy family room with a gas fireplace, ideal for relaxing evenings. The flexible front room can serve as an office, formal dining, or creative space. The master suite includes a walk-in closet, dual sinks, a soaking tub, and a walk-in shower. Two additional bedrooms share a full bath. Enjoy the convenience of an inside laundry room and a 2-car garage. Step outside to a newly landscaped private backyard, perfect for outdoor gatherings. Located close to the community's pools, spas, splash pad, tennis and pickleball courts, and the top-rated elementary school. Las Sendas offers a gated golf course lifestyle with parks, sport courts, and activities for all ages. Easy access to hiking, biking, shopping, and the 202 freeway makes this an ideal location!

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9021 W Wild Turkey Lane Strawberry, AZ 85544

$550,000

3 Beds

1.5 Baths

1,100 SqFt

Status Active Under Contract

MLS # 6724129

Property Type Single Family Residence

Price Type --

Bring your horses! Bring your toys! Bring your RV & camper! Bring your pets! Bring your family & friends! Plenty of room for everything on this .47 acre property. Enjoy as much outside living space as inside space. This 3 bedroom home exudes charm, character and the sense of being in a mountain cabin. Nestle among the tall pines, the 1100 sq ft deck is the perfect place to gather family & friends. The deck includes 220W electrical for the addition of a hot tub. To top it off, there is a fenced area for your furry friends. This cabin has been lovingly maintained and upgraded with the following: Underground utilities with a new electrical panel, newer HVAC with upgraded and insulated ductwork, entire house is insulated underneath, tankless water heater, deck flooring is designed to be fireproof and maintenance free. The carport has ample space for toys, storage or could be converted to a workshop. This cabin is turnkey and waiting for you.

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10881 W Carlota Lane Sun City, AZ 85373

$550,000

4 Beds

3 Baths

2,602 SqFt

Status Active Under Contract

MLS # 6749966

Property Type Single Family Residence

Price Type --

Welcome home to Deer Valley Ranch! Not Age Restricted & No HOA! This spacious 4-bed, 3-bath gem sits on a corner lot with perfect North/South exposure, providing abundant natural light throughout the 2602 square feet. Complete with 2 RV gates & RV parking, RV plug, water hook up, & sewer cleanout. This home is ideal for outdoor enthusiasts. The leased solar system ensures energy efficiency, cozy fireplace in the family room & newer AC units add to your year-round comfort. Notable features include tastefully updated bathrooms, wood-look tile flooring, & an oversized patio off the primary bedroom. The convenient guest suite downstairs adds versatility to your living space. Just 30 minutes from Lake Pleasant, this location is a paradise for water lovers. Original Owners & Pride of Ownership.

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1201 E Desert Park Lane Phoenix, AZ 85020

$550,000

3 Beds

2 Baths

1,730 SqFt

Status Active Under Contract

MLS # 6761522

Property Type Single Family Residence

Price Type --

Unique home in a neighborhood in ongoing revival. Possible business opportunity with this double corner lot. Well maintained home boasts a huge yard, tons of character with lot of possibilities for parking, adding on or building a totally new structure. Home has newer vinyl pane windows, stained concrete floors, porcelain tiles and tons of character as it is! Many homes on this street are total new builds, so move in as is, add on, or build a new home on this double lot. No HOA!

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2042 E Flintlock Drive Gilbert, AZ 85298

$550,000

4 Beds

2 Baths

1,952 SqFt

Status Active Under Contract

MLS # 6761102

Property Type Single Family Residence

Price Type --

Welcome to this beautiful home in the highly sought-after Adora Trails community! Step inside to an open-concept modern kitchen featuring upgraded lighting, staggered cabinets, a new sink, gas range, and stainless steel appliances—perfect for those who love to cook and entertain. The large and bright primary bedroom offers peaceful views of the serene backyard, where you'll find a built-in BBQ and lush green landscaping, an ideal space for hosting gatherings. Living in Adora Trails means enjoying an abundance of community amenities, including a pool, community center, basketball court, playgrounds, open fields, a lake, and scenic walking and biking paths. Located within an excellent school district, this home offers both comfort and convenience in a vibrant community.

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91 E Liberty Lane Gilbert, AZ 85296

$550,000

3 Beds

2.5 Baths

1,916 SqFt

Status Active Under Contract

MLS # 6766955

Property Type Single Family Residence

Price Type --

PAID OFF SOLAR - EXTREMELY LOW UTILITY BILL! Welcome to the beautiful community of Cobblestone. Built in 2018 this 3 bed, 2.5 bath single family house is turnkey and ready for you to call home. Downstairs enjoy a light and bright floor plan with tiled floors and upstairs make use of a spacious loft, perfect for a TV room or play room. Many upgrades throughout like plantation shutters, rain-soft house filtration system, reverse osmosis, custom cabinetry in the laundry room and garage. Enjoy the convenience of a low maintenance backyard and when summer hits, take advantage of the community pool. Centrally located in Gilbert and only 5-10 minutes from Downtown Gilbert, Downtown Chandler, San Tan Mall and the Gilbert Epicenter. 5 minutes from the 202 Freeway.

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4107 S 109th Avenue Tolleson, AZ 85353

$550,000

4 Beds

3 Baths

2,649 SqFt

Status Active Under Contract

MLS # 6767165

Property Type Single Family Residence

Price Type --

Must see large single story, Next Gen home! Versatile floor plan has four bedrooms and three bathrooms. Three car garage. Attached casita for varies uses, this home is only a year old, beautiful home inside and out with many modern amenities. This home is conveniently located near schools, stores, shopping, gas stations, restaurants, highways and much more. Open concept floor plan with oversized master suite and split bedrooms for individual privacy.

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2478 N Earle Drive Flagstaff, AZ 86004

$550,000

3 Beds

2.5 Baths

1,762 SqFt

Status Active Under Contract

MLS # 6772135

Property Type Townhouse

Price Type --

Welcome to this perfectly placed townhome in the peaceful, tree lined neighborhood of Elk Run. This property has been well manicured from the small details inside to the pristine landscaping outside. Enjoy updated kitchen and bathrooms with granite countertops. Fresh exterior paint - including the decks! NEW ROOF! New furnace in 2020. With the beautiful weather Flagstaff offers, you will be pleased with the TWO private decks. 3-bedrooms with a versatile loft, great for additional family room or office space. Open concept family room on main level. Snow removal covered by the HOA making winter time a breeze! Bear Paw, the pools, pickleball, tennis, and gym are all part of the country club amenities included in your very inexpensive annual HOA Dues. Nearby Trails and Oakmont restaurant.

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1290 E Bobcat Drive Munds Park, AZ 86017

$550,000

3 Beds

2 Baths

1,485 SqFt

Status Active Under Contract

MLS # 6770846

Property Type Single Family Residence

Price Type --

Nestled in the gorgeous Munds Park, this 3 bedroom 2 bath A-frame home has stunning wood vaulted and beamed ceilings. A loft that overlooks the great room with beautiful stone fireplace. Watch the weather and wildlife through the floor to ceiling windows from the coziness of your home. Primary bedroom and bathroom are upstairs creating a more private spot. The large deck is the perfect spot for an outdoor living space and great gatherings. With the trails, just minutes away, you'll want to bring all your outdoor toys. 2 storage sheds are perfect for store some of those toys. Don't miss out on this one, this is the home away from home you've been waiting on!

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9908 S 43rd Avenue Laveen, AZ 85339

$550,000

3 Beds

2 Baths

2,220 SqFt

Status Active Under Contract

MLS # 6774848

Property Type Single Family Residence

Price Type --

Wonderful 3-bedroom home + DEN w/eye-catching porch! The 3-car garage, extended driveway, & RV gate/parking provide plenty of parking space. A welcoming iron gate opens to the ample courtyard. Inside, you'll find fresh paint, surround sound speakers, a gas fireplace, tile flooring, & a luminous great room that merges all areas for easy entertainment. Gourmet kitchen has SS appliances, a walk-in pantry, granite counters, an island w/breakfast bar, & wood cabinets. Discover a main retreat featuring French doors to the backyard & a newly remodeled bathroom w/two vanities & a soaking tub. The sizable den w/own entry from the courtyard can be easily used as the 4th bedroom, office, yoga studio, etc. Out the back, you'll see an extended covered patio, refreshing pool, & firepit area. Must see!

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