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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3006 E Posey Court Star Valley, AZ 85541

$1,530,000

3 Beds

3 Baths

3,048 SqFt

Status Active

MLS # 6749066

Property Type Single Family Residence

Price Type --

This 3,480sf, Pioneer Log Home, sitting on just over 1 acre in a private gated community, will take your breath away! Constructed of Massive Western Cedar Logs, carefully sited into the natural surroundings with a year round creek at the rear of the home has unmatched beauty! This home features a 2 way wood burning fireplace that heats both the large great room and spacious master bedroom, Small pond and waterfall feature in great room, big kitchen with gas cook top, kitchen island, breakfast bar, and giant laundry area/ mud room, and fire suppression system. Walk upstairs to find another living area, two huge bedrooms, and giant jacuzzi tub with double sinks and walk in shower! Bring the outdoors in with floor to ceiling windows, and great natural lighting. There is 5,000 Square Feet Under Roof which includes the covered porches, breezeway and the garage (provided by the owner).

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5455 E Lincoln Drive Unit 1016 Paradise Valley, AZ 85253

$1,529,000

2 Beds

2.5 Baths

1,702 SqFt

Status Active Under Contract

MLS # 6639094

Property Type Apartment

Price Type --

Indulge in loft living at Mountain Shadows Resort! exquisitely upgraded 2-bedroom loft home is adorned w/ designer touches & meticulous details. Nestled against the breathtaking backdrop of Camelback Mountain, Mountain Shadows Resort offers a distinctive lifestyle in a community of only 41 condo & loft homes, providing a serene Paradise Valley setting w/ full privileges at the resort iincluding a pool, spa, gym, restaurants & concierge services. There's also the unique opportunity to join the rental pool for stress-free income generation. Welcome to the epitome of resort living in Paradise Valley! Step into this two-story residence that emanates unparalleled style, offering turn key living at its finest. Furniture is avail for purchase. Property has ability to be in rental pool program.

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6942 E Thirsty Cactus Lane Scottsdale, AZ 85266

$1,525,000

3 Beds

2 Baths

2,472 SqFt

Status Active

MLS # 6749247

Property Type Single Family Residence

Price Type --

Wonderful home in Terravita Country Club with views of the 14 fairway and Black Mountain with stunning AZ sunsets! This remodeled home offers a fabulous kitchen, granite and luxury stainless appliances all overlooking the great room. The view windows offer unparalleled views of the surrounding mountains, sunsets and world-famous Saguaros. This Caelum model plan is perfect for guests to relax, both inside and out! The backyard is a resort paradise with a heated pool, large built in BBQ/entertaining bar, large gas fire-place and lots of outdoor seating with and covered patio areas to enjoy the best of Arizona resort living! This is a must see!

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7117 E Rancho Vista Drive Unit 4006 Scottsdale, AZ 85251

$1,525,000

3 Beds

2.5 Baths

1,734 SqFt

Status Active

MLS # 6755060

Property Type Apartment

Price Type --

RARE CORNER UNIT COMPRISED OF 3 BEDROOMS + 2.5 BATHS, TWO SEPARATE ENTRANCES (ONE FOR RESIDENT, ONE FOR GUESTS) WITH TWO EXPANSIVE TERRACES, WITH CAMELBACK MOUNTAIN AND CITY VIEWS. PANORAMIC FLOOR-TO-CEILING GLASS SLIDERS. TWO SECURED UNDERGROUND PARKING SPACES NEAR ELEVATORS. AWARD-WINNING OPTIMA CAMEL VIEW IS RENOWNED FOR ITS PRIME LOCATION AND CUTTING-EDGE ARCHITECTURE OFFERING UNPARALLELED AMENITIES INCLUDING POOLS, SPAS, BBQ AREAS, AND A RECENTLY UPGRADED TWENTY-FOUR THOUSAND SQUARE FOOT FITNESS CENTER WITH LOCKER ROOMS, STEAM ROOMS, INDOOR LAP POOL, SPAS, AN ON-SITE CONCIERGE, PUTTING GREEN, HYBRID BASKETBALL/PICKLEBALL COURT, AND RESTAURANT. WALKING DISTANCE TO, COFFEE SHOPS, RESTAURANTS, NIGHTCLUBS AND ALL THAT OLD TOWN SCOTTSDALE HAS TO OFFER.

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7374 E Woodsage Lane Scottsdale, AZ 85258

$1,525,000

3 Beds

2.5 Baths

3,472 SqFt

Status Active

MLS # 6747900

Property Type Single Family Residence

Price Type --

Exquisitely curated interiors create the distinguished ambiance offered in this very private, gracious villa. Discerning tastes will take note of the Ralph Lauren inspired fabrics and appointments throughout the spacious floorplan, with comfortable, open living spaces on the main level, including the dramatic vaulted entry & formal living room w/ wet bar, sophisticated Formal Dining, well-lit kitchen w/ charming breakfast room adjacent to the finely appointed Family/TV room, which overlooks the private patio with glass tiled dipping pool. Upstairs, the Primary Suite is a richly appointed sanctuary of it's own, separated by an open walkway from the secondary bedrooms. Additionally, an office/exercise room & delightful powder room exist on the main floor. (Newer roof w/ warranty.) Furniture may be purchased by separate bill of sale for a move-in ready scenario, if desired.

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9781 E Gamble Lane Scottsdale, AZ 85262

$1,525,000

4 Beds

3 Baths

3,166 SqFt

Status Active

MLS # 6754348

Property Type Single Family Residence

Price Type --

Fantastic opportunity to own a completely remodeled, single level home in the Monument at Troon North. Fall in love with its gorgeous open floorplan featuring wood floors, linear fireplace in great room, chefs kitchen with Wolf Range, double ovens, under/over/inside cabinet lighting, huge breakfast island and quartzite counters. Your favorite room will be the dining room with its lovely view and wall to wall hutch that makes a statement. The inviting primary suite features cozy fireplace and a exit to back patio and view deck. Enter primary bath thru barn door into spa like bath with free standing tub, double sinks, huge shower, private water closet and large walk in closet with organizers. Huge second ensuite with lots of closet space and lovely bath with backlite mirrors, tiled mirror, tiled wall and a lot of style. Large 3rd and 4th bedroom offer walk in closets, shutters, nicely sized, 4th has private patio. Well laid out laundry room with sink and extra refrigerator space. This corner lot gem is a must see, desert landscape with a lot of lights and RV gate, this lot is large enough for putting green, pool and ramada or possibly a guest home! Garage is 3.5 at least and extended. View Deck offers 360 degree Mountain views as well as city lights!

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6055 E Indigo Sky Road Hereford, AZ 85615

$1,525,000

3 Beds

3.5 Baths

3,307 SqFt

Status Active

MLS # 6777571

Property Type Single Family Residence

Price Type --

This stunning Santa Fe style 3300 ft.² + is located between Bisbee and Sierra Vista AZ. Just off highway 92 backed against Thompson Peak. This property offers a perfect blend of modern elegance and serene desert living on a spacious 5 acre lot. The house offers two master suites and 2 1/2 bathrooms. The open concept layout flows seamlessly from the welcoming large foyer with Stackstone accents, to the expansive living areas. The gourmet kitchen is equipped with high-end appliances, granite countertops, butcher block Island, Stackstone backsplash and tons of maple cabinets. The huge main master suite provides a relaxing retreat with panoramic valley and Mountain View's walk-in closet, spa like bathroom and private balcony. A detached one bedroom, guest suite and a 40 ft RV garage/worksho

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7438 E Visao Drive Scottsdale, AZ 85262

$1,525,000

4 Beds

3.5 Baths

3,146 SqFt

Status Active

MLS # 6786533

Property Type Single Family Residence

Price Type --

Experience this beautifully remodeled single-level home in the exclusive guard-gated community of Bellasera. Upgraded to perfection, this residence boasts new flooring, elegantly redesigned bathrooms, and a custom chef's kitchen with a gas cooktop that seamlessly flows into the formal dining and living areas—ideal for hosting and everyday living. Offering 4 bedrooms (3 in the main house and 1 in the attached casita) and 3.5 bathrooms, the home features a transitional interior design and an open-concept great room floor plan. Enjoy unparalleled privacy in the resort-style backyard, which backs to open space and spectacular mountain views, and built in BBQ. A low-maintenance home with a hassle-free yard—ideal for winter visitors/2nd home, yet large enough to put a resort like pool. Bellasera's premium community amenities include a fitness center, play pool, lap pool, spa, library, sport courts, and a dog park. This home is the perfect blend of luxury, style, and tranquility. Welcome home!

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3519 Lee Doyle -- Flagstaff, AZ 86005

$1,525,000

3 Beds

2 Baths

2,497 SqFt

Status Active Under Contract

MLS # 6772140

Property Type Single Family Residence

Price Type --

Located on a large corner lot in a private area of Forest Highlands, this charming SINGLE LEVEL home is the perfect mountain retreat. The open floor plan, privacy and additional bonus room provide comfort and versatility for large groups or intimate gatherings. The open kitchen has granite countertops and stainless-steel appliances as well as a large walk-in pantry. It also has a pass-through service window to the bonus room. The large covered deck has both covered and uncovered areas with a built in barbecue and plenty of room to enjoy the outdoors. This is quite the find at a price point seldom seen in Forest Highlands.

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9020 N 33rd Way Phoenix, AZ 85028

$1,525,000

5 Beds

3 Baths

4,521 SqFt

Status Active

MLS # 6729215

Property Type Single Family Residence

Price Type --

Priced well below appraised value! Elegance & timeless charm will be found in this stunning Santa Barbara-inspired property located just mere steps from the Phoenix Mountain Preserve. This gorgeous residence greets you with rich hardwood plank & luxury Saltillo tile , high ceilings with wood beams plus beautiful wood cased windows. A central atrium creates an airy atmosphere with tons of natural light that can be adjusted with electric blinds. The open gourmet kitchen is a chef's delight with custom cabinetry, top-of-the-line stainless steel appliances with Taj Mahal leathered Quartzite countertops, an adjacent oversized laundry room, and a huge storage pantry. The heart of the home is the great room, illuminated by skylights and anchored by an authentic tiled fireplace. Step outside to to the entertainer's garden, with its large pool surrounded by lush trees. This beautiful home is perfect no matter what your lifestyles! With a large playroom/hobby room/craft room that can also be used as attached guest suite complete vaulted ceilings, fireplace, quartzite desk, lots of storage, sleeping loft and private bathroom. Flex room off loft would make a perfect kitchenette/coffee area. New Tesla Super Charger in Garage. Minutes to 51 access, downtown, airport, Basis Phoenix Primary, new PV Mall redevelopment, biking/walking trails, Press Coffee, 32 Shea, many other fine restaurants. Check out these amazing details & features: ***

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3124 E Blackhawk Drive Gilbert, AZ 85298

$1,520,000

4 Beds

4.5 Baths

4,324 SqFt

Status Active

MLS # 6661174

Property Type Single Family Residence

Price Type --

This spacious beauty in Acacia Estates boasts the addition of a separate living quarters and a recent remodel with high-end upgraded features such as solid hardwood knotty alder doors and baseboards, a Chef's kitchen with GE Monogram appliances, 3 beverage fridges and a 4-car insulated and temperature-controlled garage. Additional highlights include front yard artificial turf, plantation shutters throughout, remote blackout shades in the bedrooms and a home surveillance system. Other luxury features such as a private courtyard, ensuites in secondary bedroom, attached casita with a full bathroom remodel to include an oversized shower and soaking tub

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Flagstaff AZ 86004

$1,519,000

5 Beds

3.5 Baths

4,920 SqFt

Status Active Under Contract

MLS # 6703866

Property Type Single Family Residence

Price Type --

This stunning custom home on 2.5 acres is the realization of an arts and crafts vision singular to Flagstaff. From the careful details of the front doors, to custom built ins & woodwork, cherry cabinets, & tiffany style light fixtures, this is a work of art! Live your quiet dream in serenity surrounded by natural beauty, or create an entertainer's paradise. Delight in the chef's kitchen with a Viking suite of appliances. Lose yourself in the beautifully treed, gardened yard with mountain views. The lower level is pure fun. Entertain, work out, dance, play pool. Located in desireable Pine Mt. Estates, only steps from national forest, this is an equestrian & outdoor lover's dream. With 2 living areas, spacious rooms, custom office, 3 car garage, owned solar & AC, it's your perfect retreat. Furnishings available with a few exclusions (wood telephone on wall does not convey as well as personal antiques). We've completed an inspection and this home is in excellent shape! See additional documents for many details on items repaired, solar information and the vegetation on property.

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