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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1449 W Islandia Drive Gilbert, AZ 85233

$609,000

3 Beds

2 Baths

1,846 SqFt

Status Active

MLS # 6768896

Property Type Single Family Residence

Price Type --

Move-in ready! Fantastic opportunity to own this wonderful 3-bed, 2-bath home with a sparkling pool! Great curb appeal with nice desert landscaping, a covered front porch, and a 3-car garage. The welcoming interior offers a spacious living & family room, soaring vaulted ceilings, soothing palette, ceiling fans, soft carpeting, archways, a wood-burning fireplace, and beautiful laminate flooring. The kitchen is fully equipped with sleek granite counters, a mosaic tile backsplash, track lighting, lots of white cabinetry with crown molding, and two windows with great views of the backyard. Don't forget about the large dining area with a bay window perfect for entertaining family & friends. The main bedroom offers an ensuite bathroom with a separate tub & shower, dual vanities, and a walk-in closet. The remaining bedrooms are an ample size and share the hall bathroom. Laundry inside with utility sink. Enjoy the outdoors with a large covered concrete patio, artificial turf, additional desert landscaping and a refreshing pool. Make this gem yours today! The exterior of the home was painted in 2023.

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32828 N 228th Drive Wittmann, AZ 85361

$609,000

4 Beds

2 Baths

1,403 SqFt

Status Active

MLS # 6757577

Property Type Single Family Residence

Price Type --

Set on a full acre, this 4-bedroom, 2-bathroom home is a striking combination of modern updates and rural charm. With a 2023 refresh that includes new flooring and updates to the kitchen and bathrooms, the interior feels fresh, cool, and contemporary. The open floor plan flows effortlessly, creating a spacious and inviting atmosphere that's perfect for both entertaining and everyday living. The property is ideal for those with hobbies or larger projects, featuring a massive 30' x 50' x 14' detached, insulated shop, fully equipped with electrical and offering 10' x 10' and 10' x 12' doors, providing ample room for up to six vehicles or larger equipment. The 10' x 16' wood shed with a window AC unit adds additional functional space, perfect for storage or a small workshop. Backing up to... state trust land, this property offers expansive views and exceptional privacy. For pet owners, the fenced dog yard includes a dig-proof kennel, giving peace of mind and security for your pets. This home perfectly blends modern conveniences with the freedom and space of rural living, offering a lifestyle that's as practical as it is peaceful.

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7632 E Bonita Drive Scottsdale, AZ 85250

$609,000

3 Beds

3 Baths

2,026 SqFt

Status Active

MLS # 6763467

Property Type Townhouse

Price Type --

*AMAZING Villa Monterey Home *Three Bedrooms, three bathrooms, over 2000 square feet of space *COVETED DOUBLE CARPORT! *Low HOA fee of just $650 annually! *Scottsdale Historic District *Age 55+ Community *REMODELED KITCHEN with maple cabinets, GRANITE countertops, granite backsplash, NEWER APPLIANCES *Main level features spacious living room, in-ceiling lighting, formal dining space, breakfast nook, laundry utility room, primary bedroom & full bath, additional bedroom and hall bath *Upper level features loft style bedroom, full bathroom, balcony with mountain views, walk-in closet and BONUS SPACE (can be used as office, hobby area, pet area) *Wood laminate flooring *CONVENIENT door from living room to primary bedroom suite * *Large laundry room with extra storage and side-by-side washer dryer which conveys! *Pretty PANED WINDOWS on back of home *Super nice north facing covered patio mature citrus tree, PAVERS and two fans *Home is in great condition and has been VERY WELL MAINTAINED by owners of many years *Sparkling community pool & spa *Minutes to Fashion Square Mall, Scottsdale's Waterfront, Old Town Scottsdale, Fifth Avenue Shops & Galleries, Spring Training Venues, fine and casual dining venues and SO MUCH MORE!

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2449 E Inglewood Street Mesa, AZ 85213

$609,000

3 Beds

2 Baths

2,038 SqFt

Status Active

MLS # 6767409

Property Type Single Family Residence

Price Type --

Fully professionally/beautifully updated 3 bed/2 bath in one of the cutest neighborhoods in Mesa. No HOA!! Huge 10,633 sqft private lot with substantial RV parking/gate, swimming pool, covered patio and cozy outdoor settings to relax in the evenings. Attention to detail on the design in the home will make anyone feel like they are on vacation. Open concept floorplan, spacious master bedroom with en-suite bath and much more. All new flooring/lighting/quartz counters/custom backsplash, stainless appliances/custom 5'' baseboards/new paint inside and out. Minutes to the 202 with great entertainment and shopping nearby. Close to Mesa and PHX airports. This one is a must see!

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1609 E Montecito Avenue Phoenix, AZ 85016

Open House

$609,000

3 Beds

2 Baths

2,362 SqFt

Status Active

MLS # 6759860

Property Type Single Family Residence

Price Type --

This stunning property is nestled in the desirable Biltmore/Camelback corridor and is surrounded by an array of shopping options, and some of the city's finest restaurants. This beautifully designed two-story residence features three spacious bedrooms and two bathrooms, providing ample space for relaxation and privacy. The master bedroom is conveniently located on the first floor. The property boasts modern finishes and an open floor plan that enhances its inviting atmosphere, with a stylish kitchen, bright living spaces, and a lovely outdoor space, perfect for family gatherings or the addition of a pool. Large laundry with ample storage. Two car carport with a Tesla charging station. Easy access to highways and public transpiration. Do not miss this one!

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35508 N Tin Court San Tan Valley, AZ 85144

$608,995

4 Beds

2.5 Baths

2,433 SqFt

Status Active

MLS # 6784991

Property Type Single Family Residence

Price Type --

*Home is still Under Construction* This beautiful home was crafted for the way you live. The foyer welcomes you with stunning views of the main living space and rear yard. The open-concept kitchen provides connectivity to the great room area with prime access to the outdoor patio. The backyard retreat is perfect for activities, complete with a stacking door system. The resort-style amenities in this community will make your family feel they're on vacation year-round. Come experience your dream home today!

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1204 W Fever Tree Avenue San Tan Valley, AZ 85140

$608,900

4 Beds

2.5 Baths

2,716 SqFt

Status Active

MLS # 6727454

Property Type Single Family Residence

Price Type --

New incentive- With purchase price of $620K, sellers will pay off the solar lease! Giving buyers 10 yrs of ultra low utility billls! Sellers had $0 utility bills in summer!! Fall/spring were approx $20, winter btwn $20-$50. Come see this beautiful, highly upgraded 4 bed+ office, 2.5 bath, 3 car garage . Gourmet kitchen includes granite counters, oversized island, stainless appliances, gas cooktop, convection oven, & huge walk-in pantry. Primary bedroom features dual vanities, soaking tub, large shower & walk-in closet. Split floor plan with large secondary rooms and walk-in closets. Extra cabinets in laundry & garage. Grass, extended paved patio, and garden beds. Enjoy 2 community pools, splash pads, club house, playgrounds, pickle ball, basketball, sand volleyball, & frisbee golf course

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7816 E Quartet Avenue Mesa, AZ 85212

$608,633

4 Beds

3 Baths

2,132 SqFt

Status Active

MLS # 6787457

Property Type Single Family Residence

Price Type --

MLS#6787457 February Completion! The Sapphire is a thoughtfully designed single-story home featuring 1,970 sq. ft. of living space with 4 bedrooms, 3 bathrooms, and a 2-car garage. The foyer leads directly to an open dining area, kitchen, and great room, seamlessly connecting to the outdoor living space—perfect for entertaining. Whether you're cooking your favorite meals in the kitchen, relaxing in the great room with a book and coffee, or hosting friends and family, this home is made for creating lasting memories. The spacious primary suite offers a private retreat with a bathroom featuring double sinks and a walk-in closet. Welcome home! Structural options include: bedroom in place of tandem garage, study with doors in place of bedroom.

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10044 E Tiburon Avenue Mesa, AZ 85212

$608,500

5 Beds

3 Baths

2,547 SqFt

Status Active

MLS # 6751296

Property Type Single Family Residence

Price Type --

TURN KEY READY!! Nearly-new 5-bedroom, 3-bath home in Mesa's Cadence at Gateway community. Fully Furnished! Built in 2022 by Tri Pointe Homes and stayed in just a handful of times! This spacious residence features a gourmet kitchen with stainless steel appliances, granite countertops, and a large island. Bright, open living areas flow seamlessly into a backyard oasis with custom BBQ and designer turf. The primary suite offers a spa-like bath with dual vanities, and walk-in shower. One of the biggest selling points is access to resort-style amenities, including one of the best community pools in the state, many parks, and trails.

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960 E Mulberry Place -- Chandler, AZ 85286

$607,000

3 Beds

2 Baths

1,324 SqFt

Status Active

MLS # 6638691

Property Type Single Family Residence

Price Type --

Charming 3 bedroom and 2 bath home in new Chandler community. Hamilton Landing includes 36 single level homes each with their own front porch, private driveway for 2 vehicles and a single car garage and a small, pet friendly rear yard. Each home has 10' flat ceilings, white cabinets, luxury vinyl plank flooring in every room, two tone paint, beautiful wood trim around windows and doors and granite/quartz countertops in the kitchen and baths. The community includes a dog park with a covered ramada. These homes will be ready for occupancy between March and June of 2024. All photos are of a similar home completed in a previous community.

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20911 S 231st Street Queen Creek, AZ 85142

$606,490

4 Beds

3 Baths

2,524 SqFt

Status Active

MLS # 6776293

Property Type Single Family Residence

Price Type --

Brand new phase!. Our beautiful Revolution plan features it's own guest suite and is conveniently located to all that Queen Creek has to offer. Minutes from the brand new Costco, Schnepf Farms, Queen Creek Market Place and the Queen Creek Olive Mill. A public report is available on the Arizona Department of Real Estate website.

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4832 W Stargazer Place Laveen, AZ 85339

$605,995

4 Beds

2.5 Baths

2,024 SqFt

Status Active

MLS # 6683740

Property Type Single Family Residence

Price Type --

The single-story Dominic plan offers an open, inviting layout and ample living space. At the heart of the home is a spacious great room that flows into an impressive gourmet kitchen with a center island, quartz counter tops, dual pantries and a generous breakfast nook. A luxurious primary suite showcases an immense walk-in closet and a private bath with Deluxe walk-in shower, a covered patio invites relaxation, a study and a teen room, and a third side turn garage bay.

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