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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3432 E Strawberry Drive Gilbert, AZ 85298

$639,900

4 Beds

3 Baths

2,080 SqFt

Status Active

MLS # 6759348

Property Type Single Family Residence

Price Type --

This stunning, highly upgraded, ready-to-move-in single-level home offers 4 bedrooms, including a guest suite, and 3 bathrooms, in the highly desirable Bridges Gilbert community. Situated on a premium greenbelt corner lot, this home features an inviting built-in fireplace and an Arizona room for extra comfort and over $75K in upgrades. The kitchen is equipped with stainless steel appliances, a gas stove, and tile flooring, with carpet only in the bedrooms. The private, low-maintenance backyard with no rear neighbors is perfect for relaxation or entertaining. Ideally located near shopping, freeway access, and A+ rated schools, The Bridges at Gilbert provides bike paths, playgrounds, a splash pad, lakes, and more, all within walking distance of Gilbert Regional Park!

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4636 E Tierra Buena Lane Phoenix, AZ 85032

$639,900

3 Beds

2.5 Baths

2,020 SqFt

Status Active

MLS # 6783271

Property Type Single Family Residence

Price Type --

Welcome to this stunning 3-bedroom, 2.5-bath home packed with features to make it the dream home you've been searching for! Spanning 2,020sf., every inch of this thoughtfully designed space offers a blend of comfort, convenience and style. Step into the bright, open kitchen, which overlooks a spacious great room - ideal for entertaining! The kitchen features a large gourmet island, quartz counters, sleek stainless steel appliances, white cabinetry and a timeless subway tile backsplash. Throughout the downstairs and bathrooms, enjoy modern tile and light wood LPV in all the bedrooms and loft which blend seamlessly to enhance the modern aesthetic - NO CARPET! Freshly painted walls (all downstairs and loft area) and stylish Fanimation 52-inch fans on both levels further elevate... the home's polished, move-in-ready appeal. Entertainment options continue upstairs in the loft area that has been transformed into a custom-designed movie room, featuring a 120-inch screen, BenQ projector, Dolby Atmos in-wall and ceiling speakers, and a Marantz audio cabinet with high-end amplifier equipment. Sink into the cozy Lovesac lounger (Included!) and enjoy family movie nights or entertain friends in style. Stay comfortable year-round with smart climate controls, including a Nest thermostat and an 18,000 BTU Mr. Cool mini-split AC in the primary bedroom - perfect for those that love to sleep cool! The two-car garage is also an organizational dream with epoxy-coated floors, ceiling storage, and a 220V outlet for electric vehicles or workshop equipment. The backyard is designed for easy living, with pavers and synthetic turf that keep maintenance low and create the perfect setting for BBQs and relaxation! The community also features a sparkling pool, walking paths, and more, adding to the lifestyle appeal. Ideally located near premier shopping, dining, and entertainment destinations such as Desert Ridge, Kierland Commons, Scottsdale Quarter, and the newly renovated PV Mall, this home offers an unmatched combination of luxury, convenience, and community. Don't miss your chance to make this stunning property your forever home!

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15677 W Campbell Avenue Goodyear, AZ 85395

$639,900

5 Beds

3.5 Baths

3,134 SqFt

Status Active

MLS # 6777332

Property Type Single Family Residence

Price Type --

Fully renovated gorgeous home. This stunning 5 bedroom, 3.5 bathroom home combines style, comfort, and modern amenities. Renovation includes but is not limited to new AC, new appliances, new carpet, tile, LVP, new paint interior/exterior, primary bath remodel, epoxy garage floors etc. Step inside to an open-concept layout, where a bright living room flows into a gourmet kitchen with stainless steel appliances, and a central island, perfect for entertaining. The spacious master suite includes a walk-in closet and an en-suite bath with a soaking tub and separate shower. Outside, enjoy a landscaped backyard and covered patio, ideal for relaxation. Located near top-rated schools, parks, shopping, and dining, this home offers both convenience and luxury.

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1207 N Velero Street Chandler, AZ 85225

$639,900

4 Beds

3 Baths

2,316 SqFt

Status Active

MLS # 6782367

Property Type Single Family Residence

Price Type --

Check out this stunning 4 bed 3 bath home in highly desirable Chandler! Brand new flooring throughout the house, new hardware, paint and more. Large living ares and an expansive backyard with a pool make this home great for entertaining. Take advantage of the opportunity to own one of the biggest homes in the subdivision at a great value.

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11000 N 77th Place Unit 2085 Scottsdale, AZ 85260

New

$639,900

2 Beds

2 Baths

1,571 SqFt

Status Active

MLS # 6788768

Property Type Townhouse

Price Type --

Luxury living at the Starfire Golf Club community, Sovanna Condominiums offers a clubhouse with attached gym, a resort style heated pool and spa. Sovanna Condominiums is a gated community in the heart of Scottsdale, the central location is close to many amenities, enjoy the convenience of nearby shopping, restaurants, sports bars, hiking, biking, near by casino and of course playing golf at Starfire's 27-hole golf course. The large 1571 square foot condo is a end unit with no one above you, it offers two bedrooms plus den/office (den can easily be converted into a 3rd bedroom), large kitchen with built in appliances, granite countertops,two large private patios, gas fireplace and attached is a two-car garage. The Perfect 'Lock and Leave' Lifestyle.

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1202 W Random Way Payson, AZ 85541

New

$639,900

3 Beds

2 Baths

2,900 SqFt

Status Active

MLS # 6788589

Property Type Single Family Residence

Price Type --

There is room for your toys and RV on this .96 acre, flat, all use able, partly fenced lot near Green Valley Park. There is a 2-car attached garage and 2 car detached garage, plus a storage shed with finished interior. The spacious, split floor plan, 3 BR,2BA, all one level home has a wood burning fireplace in the living room, a full-size kitchen offers lots of storage. The master bedroom has separate access to the large screened porch. Master bath has a jetted tub, walk-in shower and large walk-in closet. There is a large patio and many large trees to enjoy the outdoor living. Year around activities at Green Valley Park including fishing on the lakes, playgrounds, concerts in the park in the summer and Fireworks on the 4th of July.

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10260 E White Feather Lane Unit 2003 Scottsdale, AZ 85262

$639,900

2 Beds

2 Baths

1,381 SqFt

Status Active

MLS # 6591799

Property Type Townhouse

Price Type --

Gorgeous mountain and golf course view from this 2 bd townhome in the coveted Troon Ridge gated community. Excellent quality in the upgraded rich cabinetry with granite tops and nicely appointed kitchen. Split bedroom layout perfect for guests or office, ample great room with space for large dining table and hutch. Bright and clean this property has been a single owner home and very lightly used. A convenient way to sojourn in the desert surrounded by green golf fairways, mountain vistas, abundant desert landscape and the unique rocky boulder formations specific to Troon. This private gated hidden community has a heated pool, spa, workout facility, tennis clubhouse, plus easy access to Troon North Golf. Close to 101 and the plentiful Scottsdale amenities, restaurants & shopping

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22908 N Las Vegas Drive Sun City West, AZ 85375

$639,900

3 Beds

2 Baths

2,145 SqFt

Status Active

MLS # 6739579

Property Type Single Family Residence

Price Type --

REDUCED!! Welcome to this exceptional Lakeside model featuring three bedrooms and a spacious 2.5-car garage. Ideal for owners with full-size trucks, this home boasts stacked stone accents trimming the front, along with a pergola and a covered back patio. Numerous updates throughout provide modern convenience. Additional amenities include an extra refrigerator in the garage and a prepaid solar lease. Positioned along the 5th hole of the Desert Trails golf course, this residence is nestled within Sun City West, renowned for its nine golf courses, four recreation centers, and numerous pickleball courts.

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1408 Vista Montana Road Unit 10 Sedona, AZ 86336

$639,900

3 Beds

2 Baths

2,000 SqFt

Status Active

MLS # 6732197

Property Type Townhouse

Price Type --

Location Location Location! Vista Montana is one of the most desirable subdivisions to live in due to accessibility to amenities yet is quiet & peaceful at the same time. This beautiful two-story home has an airy, open feel, with high ceilings & three outdoor spaces: back patio, front patio, & upstairs primary balcony. Home has ample parking with an oversized single car garage, an uncovered spot, plus right in front of garage. Popping into Whole Foods, ACE Hardware, Sky Rock for a cocktail to take in the lovely views, Airport Mesa for hiking, or up to Posse Grounds Park for mountain biking, hiking trails, the Dog Park, & events at the outdoor amphitheater has never been easier or faster. This well-maintained subdivision has a community pool and clubhouse in addition to friendly neighbors. There are amazing sunsets from the living room window, upstairs primary balcony and upstairs guest/office window that look to the west.

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2614 N 15th Street Phoenix, AZ 85006

$639,900

3 Beds

2.5 Baths

1,972 SqFt

Status Active

MLS # 6735434

Property Type Single Family Residence

Price Type --

This exceptional home offers quality and low-maintenance living in the heart of Coronado. Completely rebuilt in 2016, the home was taken down to the studs and updated with all-new electrical, plumbing, insulation, and premium finishes throughout. The thoughtfully designed floor plan includes an inviting library with raised ceilings and floor-to-ceiling bookshelves, a spacious primary suite with vaulted ceilings and a luxurious en suite bath, and a gourmet kitchen equipped with a breakfast bar, pantry, and high-end AGA range. Modern upgrades include dual HVAC systems with WiFi thermostats, energy-efficient dual-pane windows, hardwood flooring, a tankless water heater, and a robust whole-house water filtration system. Additional features include a dedicated laundry room, an upgraded garage with a 220V line for EV charging, hanging storage, and extra outlets. Enjoy entertaining on the wraparound porch amidst lush landscaping, including fruit-bearing trees and large shade trees, or retreat to the custom-designed great room with a hardwood bar and ample amenities. With paid-off solar panels, an average electric bill of only $120, and a prime location near parks, restaurants, and the Oak Street Alley Murals, this home offers the perfect blend of charm, convenience, and efficiency. Don't miss out on this standout property, recently featured in the 2024 Coronado Home Tour!

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17724 W Ocotillo Avenue Goodyear, AZ 85338

$639,900

3 Beds

3 Baths

2,718 SqFt

Status Active

MLS # 6754137

Property Type Single Family Residence

Price Type --

Experience mountain living in this beautiful, gated semi-custom TW Lewis home in Estrella Mountain Ranch. Located on a spacious corner lot just under 1/3 acre, this home is filled with luxury upgrades. The master bedroom offers an extended patio and elegant single lite door, while the master bath features a tiled snail shower. The cozy living area includes a fireplace with custom media niches, and the 3-car garage provides ample space with a service door. Enjoy energy-efficient solar shades, security doors, and a pebble stone driveway. The expansive backyard is ready for your dream pool or oasis.

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7805 W Noble Prairie Way Florence, AZ 85132

$639,900

2 Beds

2.5 Baths

2,541 SqFt

Status Active

MLS # 6757218

Property Type Single Family Residence

Price Type --

**This is the one!!** You'll be hard pressed to find another home like this in Anthem at Merrill Ranch. Absolutely immaculate with amazing upgrades and a private Oasis for a backyard. You can tell as you pull up to this house that it stands out...amazing custom design landscape with a front courtyard to enjoy your morning coffee. Enter through a high-end custom front door to a large, open floor plan with designer finishes. Everything from the flooring to the ceiling presents custom finishes and top of the line hardware. The open floor concept combines the kitchen, eating and living space that opens up to a beautiful, over-sized backyard with resort style finishes and no neighbors behind! This includes extras such as outdoor LED lighting... WIFI controlled landscape irrigation, natural gas fire-pit and outdoor covered kitchen with grill, lighted water feature, custom remote controlled fans, custom windows coverings, Quartz countertops and oversized kitchen island, crown moulding, ceramic tile backsplash, custom pendant lighting, walk-in pantry and Butler pantry, extensions for more room in the eating and master bedroom space, and much more. This floor plan also features a den/office that could be utilized as a 3rd bedroom. This is a must see home if you are looking for one of the premier homes in the community. Combine this home with the award winning community of Anthem at Merrill Ranch and all of it's amazing amenities and you have absolute paradise! BONUS...this home can be purchased furnished.

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