NAHB: Home Builder Confidence Slips in June

Home builder confidence fell slightly in June to a reading of 59 according to the National Association of Home Builders Housing Market Index. Analysts had expected no change to June’s reading of 60. June components of the HMI were also lower.

Builder confidence in current market conditions dropped by one point to 63; builder confidence in market conditions over the next six months fell three points to a reading of 66. The reading for foot traffic in new single-family developments dropped one point to 55. Readings over 50 indicate that more builders than fewer are confident about housing market conditions.

Are Housing Markets Cooling Down?

A statement released by NAHB said that June’s readings were consistent with an ongoing gradual housing recovery. In related news, real estate analysts are seeing similarities in today’s level of speculation to the pre-recession housing bubble that was fueled by speculation. More “mom-and-pop” investors are entering the market instead of seasoned institutional investors, which suggests that institutional investor interest is slowing.

In June, 2.50 percent of homes were purchased by institutional investors as compared to a peak of 9.80 percent in February 2013. Red flags suggesting that housing markets are cooling down appear consistent with June’s NAHB Housing Market Index.

Too much speculation can create a housing bubble, which would burst when demand dries up due to overly inflated home prices and falling demand for homes. Slim supplies of available homes and rapidly rising home prices are obstacles for home buyers. Home builders continue to cite low supplies of suitable land and labor shortages as obstacles to home construction.

Short Supply of Homes, Affordability Issues Persist

In a report separate from the NAHB Housing Market Index, Fannie Mae economists said that they expect single-family housing starts to increase by 13 percent in 2016. Any increase in home building would help reduce the shortage of available homes. The willingness and ability of builders to produce more affordable homes is a key aspect of maintaining healthy housing markets. Strong competitions for homes and high home prices in major metro areas have made home ownership impossible for many would-be buyers. Short supplies of available homes are discouraging those who are prepared to buy but can’t find homes they want.

Unless low supplies of homes and affordability concerns are resolved, overall market slow-downs are likely to occur at some point. Indications that professional investors may be slowing their former pace of snapping up homes could suggest that hot housing markets are starting to cool off.

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7806 E San Carlos Road Scottsdale, AZ 85258

$1,550,000

3 Beds

3 Baths

2,382 SqFt

Status Active

MLS # 6744714

Property Type Single Family Residence

Price Type --

This beautifully remodeled 3-bedroom residence offers the ultimate in convenience and luxury. Each bedroom boasts its own private ensuite bathroom and walk-in closet, offering ultimate privacy and indulgence. A chef's dream, the kitchen is equipped with top-of-the-line Viking appliances and provides a stunning centerpiece for the home. Abundant natural light fills the space through large sliders that open to a serene courtyard. Experience peace of mind within the secure confines of this guard-gated community. Enjoy resort-style living with eight swimming pools, nearby golf courses, and convenient shopping just moments away. This turnkey property offers effortless living without the stress of maintenance.

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18221 N 53rd Street Scottsdale, AZ 85254

Open House

$1,550,000

5 Beds

3.5 Baths

4,274 SqFt

Status Active

MLS # 6785014

Property Type Single Family Residence

Price Type --

Located in the Triple Crown community, this rare 5 bed, 3.5 bath with basement features an open floor plan, wood flooring, high ceilings, arched entryways, and numerous windows creating natural light throughout the home. Home features family room with gas fireplace, formal dining/great room, and newly updated chef's kitchen with stainless steel appliances, kitchen island, separate bar, and room for dining seating. Primary suite holds dual vanities, separate bathroom, oversized shower, and enclosed toilet. Main floor holds 2 guest bedrooms; basement holds additional 2 guest bedrooms and large family/game room. Entertain and enjoy Arizona's weather in the backyard with new private pool, covered patio perfect, and separate BBQ area. Recent upgrades include new roof, HVAC unit, flooring, interior and exterior paint, and kitchen and pool remodels. Triple Crown features community park with basketball court, sand volleyball, playground, and multiple areas for your family to dine, grill, and play. Home is located just minutes from Scottsdale's top resorts, shopping, golf, and restaurants.

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2213 W Twain Drive Anthem, AZ 85086

$1,549,999

5 Beds

4.5 Baths

4,911 SqFt

Status Active

MLS # 6772241

Property Type Single Family Residence

Price Type --

Welcome to Twain Dr! Talk about having it all! Take a step into this expansive home that just keeps going! This entertainers paradise features 5 bedrooms, 4.5 bathrooms, and a beautifully updated open living concept that cannot be missed. Featuring two flex rooms right when you walk in the front door, an oversized dining area, wet bar, and open concept kitchen/living area, this home has space for anything you desire! If that wasn't enough, step outside into two different locations. First, enjoy your morning coffee in this beautiful, private courtyard with a fire place, or head on out back and enjoy privacy with no neighbors behind you! This desert oasis of a backyard, with an incredible water feature, built in barbecue, pool, and spa is an entertainers dream! If that wasn't enough, head into the master bedroom, which includes a beautiful outdoor patio space to enjoy the sunset, a large master bathroom, and huge walk in closet, and fully remodeled bathrooms throughout for guest bedrooms! Enjoy family night with popcorn and snacks in your exclusive media room! Last but not least! FULLY OWNED SOLAR to SIGNIFICANTLY reduce bills each month, along with Ring security cameras throughout the house! To top it all off, do not miss all the AMENITIES that Anthem has to offer, including a community pool, biking/walking paths, clubhouse/rec center, workout facility, and tennis courts! Schedule your showing today! Twain Dr is not to be missed!

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14605 S Presario Trail Phoenix, AZ 85048

$1,549,900

4 Beds

5 Baths

3,666 SqFt

Status Active Under Contract

MLS # 6754083

Property Type Single Family Residence

Price Type --

Welcome to this stunning custom home in the exclusive GATED SUMMERHILL community. This beautiful 4-bedroom, 5-bathroom plus executive office home spans 3,666 square feet livable, and 5688 Under Roof! This Custom home built by Forte Homes offers luxurious living at its best! One of the newest homes built in Summerhill in 2018 includes newer components like roof, A/C units, stucco, paint, insulation, and appliances, all 2018. The property is situated on a 1.35-acre mountainside lot and provides breathtaking mountain views and high-end features. The large great room boasts stained exposed wood beams, 15-foot ceilings, and large windows showcasing stunning mountain views. The gourmet kitchen has top-of-the-line stainless steel appliances, including a Sub-zero built-in refrigerator, a Wolf gas range with double ovens, and two dishwashers. The kitchen also features a large island with double sinks, a breakfast bar with sink and chilled RO system, custom alder cabinetry, and a walk-in pantry. Dramatic entry, formal dining room, neutral flooring throughout, custom window treatments, granite counters, solid 8-foot doors, Star dual energy dual pane windows, smart home technology, and a large laundry room are just some of the upscale features. The Elegant primary suite wing features a private exit to the patio, a spa-like bath with double sinks, a huge walk-in closet, a jetted tub, and Incredible views from every window! Adjacent to the Primary is an Executive Office and Powder Room. Three secondary bedroom suites include neutral tile in common areas, carpet in bedrooms, private baths with granite and custom fixtures, and walk-in closets. The 5-car garage is a massive 1325 square feet with air conditioning, insulation, custom 10-foot doors, and built-in cabinetry, providing ample space for vehicles and storage. The backyard is ideal for entertaining and offers stunning mountain views and amazing sunsets. The expansive covered patio with paver flooring is perfect for entertaining, complete with built-in gas heaters, ceiling fans, and a pool bath. Enjoy the natural gas-heated pool and spa, surrounded by a travertine deck and multiple seating areas. It includes a custom heated pool and spa with deck jets and a spillway. The custom natural desert design landscaping, a turf side yard, and a paved driveway enhance the property's curb appeal. This home is a masterpiece, offering luxury, comfort, and breathtaking views. Don't miss the opportunity to make it yours!

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3817 E Hiddenview Drive Phoenix, AZ 85048

$1,549,000

4 Beds

2.5 Baths

3,083 SqFt

Status Active

MLS # 6761480

Property Type Single Family Residence

Price Type --

This stunning 4-bed, 2.5-bath modern home offers 3,083 sq. ft. of luxurious living space, fully remodeled to perfection. The gourmet kitchen features a sleek 10ft island, quartz countertops, and top-of-the-line appliances, ideal for culinary enthusiasts. Enjoy an airy, open-concept layout that seamlessly connects living spaces with breathtaking lakefront views from multiple rooms. Step outside to your private oasis with a brand-new PebbleTec pool, perfect for entertaining or relaxing. Every detail of this home blends modern elegance with timeless charm, making it a must-see in the Lakewood Estate community.

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16617 W Monterey Way Goodyear, AZ 85395

$1,549,000

2 Beds

2.5 Baths

3,172 SqFt

Status Active

MLS # 6716863

Property Type Single Family Residence

Price Type --

Welcome to your dream retreat! This stunning property features an innovative design where stackable patio doors seamlessly merge indoor and outdoor living spaces with mountain views and lake overlooking the golf course. Awake in the morning & enjoy views of lake and mountain right from your bedroom! Inside discover an open-concept floor plan that effortlessly flows onto an expansive outdoor patio, perfect for entertaining or enjoying quiet moments of relaxation. This Solstice model has over 3000 sf, formal dining room 2 large bedrooms, den and casita with separate den, oversize 3 car garage. PebbleCreek has over 200 clubs, 36 pickleball courts, 3 golf courses to enjoy, 2 restaurants, 330 seat theater and a lot more! This 1/4 acre lot is one of the best properties in PebbleCreek

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3140 E Page Avenue Gilbert, AZ 85234

Open House

$1,549,000

4 Beds

3.5 Baths

4,029 SqFt

Status Active

MLS # 6771686

Property Type Single Family Residence

Price Type --

Luxurious living at Higley Groves West! This magnificent haven offers a lovely curb appeal w/a stone façade, private courtyard, a 3-car side garage, & a wide RV gate/parking. Meticulously designed interior w/pristine lines promotes a modern feel, boasting inviting foyer, rich wood flooring, plantation shutters, thick baseboards, & stylish light fixtures. Highlights include an large living room, formal dining room, & desirable great room adorned w/pre-wired surround sound. Gourmet kitchen is a chef's delight, fully equipped w/abundant white cabinetry accentuated by crown moulding, travertine backsplash, a custom prep island w/a breakfast bar, desk area, built-in appliances, butler's service area, granite counters, & a breakfast nook. As a bonus, this house features a magnificent backyard. Grand owner's retreat will impress you w/direct outdoor access, an ensuite w/two vanities, make-up desk, soaking tub, & a walk-in closet w/mirrored doors. One Jack & Jill bathroom! Stunning backyard is an entertainer's dream, showcasing a covered patio, putting green, storage sheds, fire pit, & an enticing pool & spa. This gem will captivate you!

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34596 N 99th Way Scottsdale, AZ 85262

$1,545,000

4 Beds

3.5 Baths

3,117 SqFt

Status Active

MLS # 6763085

Property Type Single Family Residence

Price Type --

Welcome to this beautiful residence nestled within the prestigious gated community of Legend Trail. This captivating home offers 4 bedrooms and 3.5 bathrooms. As you approach, an inviting iron gate opens to a serene private front courtyard with lush landscape and water feature. As you enter, you'll be greeted by soaring 9+ft ceilings and an abundance of natural light streaming through the windows, offering picturesque views of the backyard oasis. The expansive living features a charming brick fireplace, providing a warm and inviting atmosphere perfect for relaxation or gatherings. Large windows offer views of the sparkling pool, enticing you to unwind and enjoy indoor-outdoor living at its finest. Both the front and back of the home include desert landscaping ideal for low maintenance and lock and leave lifestyle. The kitchen, ideal for culinary enthusiasts, is equipped with a breakfast bar accented by a brick knee wall and pendant lighting, granite countertops, ample white cabinetry, a pantry, and a striking blue kitchen island with a gas cooktop. Stainless steel appliances, including a double wall oven, elevate the functionality of this space, which also includes an eat-in area and a wet bar, making it perfect for entertaining. For more formal gatherings, the home offers a separate dining area with French doors leading to the front courtyard, enhancing the indoor-outdoor flow. Retreat to the luxurious primary bedroom offering expansive windows framing views of the backyard, a dual sink vanity, a separate tub and shower, and a generously sized closet. Additional highlights include a laundry room with more cabinet space for storage and a sink, as well as a split 3-car garage for added convenience. The private backyard area includes a built-in BBQ, fireplace and seating, perfect for outdoor entertaining. Enjoy the covered patio, offering a cool retreat on hot summer days, complete with a ceiling fan and electric awnings. Experience the sought-after amenities of Legend Trail, including golf, a clubhouse, fitness room, pool and spa, pickleball and tennis courts making this home an ideal choice for those seeking the ultimate desert lifestyle!

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8 Biltmore Estates Drive Unit 313 Phoenix, AZ 85016

$1,545,000

3 Beds

2.5 Baths

2,329 SqFt

Status Active

MLS # 6738169

Property Type Townhouse

Price Type --

Experience true luxury living at the Biltmore Fairway Lodge in this beautifully renovated condo. 3 bed/2.5 bath that has undergone a full interior remodel in 2022 . Every fixture meticulously chosen & over $600K in upgrades! Soaring high ceilings creates a stunning home with open living space complete with a premium chef's kitchen-luxury appliances include Wolf dual fuel range ,Subzero freezer/fridge drawers , Thermador refrigerator & wine cooler and Cove dishwasher. RO System in Kitchen plus new mechanicals all in 2021! Spacious master w/ private balcony and incredible mountain views. Two parking spots included + Huge storage unit ! Modern onsite amenities include heated pool & spa, fitness center & round-the-clock security with onsite management. retreat. Additionally, you'll benefit from two dedicated parking spots and a generous storage unit. Take advantage of outstanding onsite amenities, including a heated pool and spa, a fitness center, and round-the-clock security with dedicated management. This is luxury living perfectedall within minutes of Biltmore shopping, dining, & resorts!

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2626 E Arizona Biltmore Circle Unit 35 Phoenix, AZ 85016

$1,539,000

3 Beds

2.5 Baths

2,754 SqFt

Status Active

MLS # 6746652

Property Type Single Family Residence

Price Type --

Stunning home in the highly desirable gated community of Biltmore Square at the Arizona Biltmore. This property offers an ideal layout with two en-suite bedrooms, an office that could serve as a third bedroom, & a versatile upstairs loft. The spacious great room boasts soaring ceilings, a propane fireplace, tile flooring, & a formal dining area bathed in natural light from expansive picture windows & French glass doors. The chef's kitchen is equipped with a Wolf induction cooktop, double ovens, a wine fridge, granite countertops, a butcher block island, & a cozy breakfast nook. The primary suite includes access to the patio, a fireplace, & a walk-in closet. The immaculate backyard features a propane fire pit, built-in BBQ grill, ample seating, artificial turf, lush landscaping, and overlooks the 12th green with picturesque mountain views.

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20705 E Marsh Station Road Vail, AZ 85641

$1,535,000

3 Beds

2.5 Baths

4,039 SqFt

Status Active

MLS # 6777269

Property Type Single Family Residence

Price Type --

Welcome to a one-of-a-kind gated estate on a private hill in Arizona's gorgeous landscape. Enjoy 5.6 acres plus an additional 51 acres of adjoining land, offering unparalleled seclusion and panoramic views. This 4,039-sq-ft luxury home features 3 spacious bedrooms, 2.5 baths, a chef's kitchen with custom knotty alder cabinetry, and an open-concept living area with stunning wood beam ceilings. Breathe in the desert vistas from expansive windows and outside patio off living area. Relax by two fireplaces-pick your view!. Additional amenities include a 3,200-sq-ft detached warehouse/workshop with a 20x80 carport, perfect for storage or creative projects. Don't miss this Arizona paradise

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5362 S San Sebastian Place Chandler, AZ 85249

$1,530,000

4 Beds

3.5 Baths

4,320 SqFt

Status Active

MLS # 6771317

Property Type Single Family Residence

Price Type --

Welcome to this stunning single-level TW Lewis home in the prestigious gated community of Valencia - San Sebastian. Spanning over 4000 sq ft, this elegant home offers 4 bedrooms plus den,3.5 bathrooms, and soaring 12 ft ceilings and is situated on a spacious 20,000+ sq ft lot adjacent to a vast neighborhood park. The open kitchen boasts a Wolf stove/oven, pot filler, walk-in pantry, granite countertops, and a wine area. Interior highlights include wood shutters, travertine flooring, surround sound, high-end lighting, and motorized blinds. The luxurious master suite offers two walk-in closets and a grand walk-through shower. The backyard oasis includes a pool, spa, fire pit, and a spacious grassy area. Located near restaurants and shopping!

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