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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4259 W Jasper Drive Chandler, AZ 85226

$605,000

3 Beds

2.5 Baths

2,272 SqFt

Status Active

MLS # 6766947

Property Type Single Family Residence

Price Type --

This diamond in the rough 3-bedroom, with an office that can be made into a 4th bedroom 2-bathroom, with a powder room and a pool in Chandler is waiting for your updates! The well-maintained property offers comfortable living spaces, a functional layout, and a convenient location just minutes from shopping centers, the 10 & 101 freeways, and the airport. This is the perfect opportunity to own a home in a vibrant and accessible community.

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4407 E Gold Poppy Way Phoenix, AZ 85044

$605,000

4 Beds

3 Baths

2,432 SqFt

Status Active

MLS # 6748634

Property Type Single Family Residence

Price Type --

NEW CARPET IN BEDROOMS just installed! Welcome to Mountain Ranch Estates, where this beautifully upgraded 2-story home offers the perfect blend of luxury and comfort. Featuring 4 spacious bedrooms and 3 full baths, this residence is designed for modern living. Enjoy the elegance of plantation shutters throughout, adding a touch of timeless sophistication. The gourmet kitchen and living areas have been recently updated, creating a fresh and contemporary atmosphere. The home boasts a 3-car garage, ideal for extra storage or a workshop. Step outside to your private oasis with a sparkling pool, perfect for Arizona summers. Situated in one of the few Ahwatukee neighborhoods with natural gas, this home is a rare find.

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5993 S Rockwell Court Gilbert, AZ 85298

$605,000

4 Beds

2 Baths

2,348 SqFt

Status Active

MLS # 6748295

Property Type Single Family Residence

Price Type --

Welcome this beautiful home in the highly sought-after Shamrock Estates! This single-story home is perfectly situated on a premium oversized lot that offers an abundance of privacy, backing up to a serene greenbelt. Located on a quiet cul-de-sac street with a small community park right behind, this home provides a peaceful and family-friendly environment. Boasting 2,348 square feet of thoughtfully designed living space, this 4-bedroom, 2-bath home includes a versatile den, perfect for a home office or additional guest room. The open great room layout is ideal for entertaining, featuring stunning granite countertops, upgraded cabinets, and stainless steel appliances. The low-maintenance backyard is perfect for relaxation and play, with a combination of pavers and grass. Located in a desirable neighborhood, Shamrock Estates is known for its excellent community atmosphere and proximity to top-rated schools, including Chandler Traditional Academy. Amenities include children's play area, basketball and volleyball courts, BBQ area and walking paths throughout the community. Don't miss out on the opportunity to own this exceptional home in one of the best locations in the area.

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9510 W Menadota Drive Peoria, AZ 85382

$605,000

2 Beds

2 Baths

2,147 SqFt

Status Active

MLS # 6754942

Property Type Single Family Residence

Price Type --

REDUCED ANOTHER 10K Bring offers! I'm beautiful inside! Pride of ownership! Amazing 2+2 updated home in the adult 45+ community of Westbrook Village. 2147 SF home with a huge low maintenance yard. The kitchen, bathrooms and flooring were all updated in 2016. Roof was replaced in 2022. Garage door opener 2023. Water heater 2021. New air conditioning 2018. Front patio tile in 2024. Low monthly HOA of 64.70 for loads of ammenities. 2 clubhouses and pools. Tennis and Pickleball. 2 restarants with bars. Golf course community. Some of the furniture and decorator items can be purchased on a seperate bill of sale. Close to all shopping and restaurants. This will not last long!

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27167 W Marco Polo Road Buckeye, AZ 85396

Open House

$605,000

3 Beds

3 Baths

2,332 SqFt

Status Active

MLS # 6786340

Property Type Single Family Residence

Price Type --

GOLF COURSE LOT with excellent view of #4 green. Furniture available outside of Escrow. 2332 square feet with casita, 3 bedrooms + den that is set up as a bedroom. This Destiny model shows like a new model, 1 owner and lived in less than 6 months a year. Elevated view of the 4th green with the beautiful White Tanks in the background. Very private patio with cart path on the other side. Must see document section for details on upgrades.

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944 S Grand -- Mesa, AZ 85210

$604,999

5 Beds

3.5 Baths

2,711 SqFt

Status Active

MLS # 6766857

Property Type Single Family Residence

Price Type --

This stunning custom-built Mesa home will impress from the moment you enter. With 5-bedrooms with 2 full baths and 2 half baths, this home offers an exceptional living experience. The spacious interior boasts soaring ceilings, a gourmet chef's kitchen, and abundant natural light throughout. The primary suite, conveniently located on the main floor, features an en-suite bathroom with a jacuzzi tub. Upstairs, you'll find four additional guest bedrooms, one of which includes a private powder room and a large balcony that overlooks the beautifully landscaped backyard. Outside you'll discover your own private oasis, complete with a sparkling pool w/ a grotto. The oversized Ramada with a fully-equipped outdoor kitchen sets the stage for unforgettable memories. No HOA, with an RV gate! unforgettable gatherings. With an RV gate and no HOA, this property offers both convenience and freedom.

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2410 N 40th Street Street Phoenix, AZ 85008

$604,999

3 Beds

2 Baths

1,999 SqFt

Status Active

MLS # 6776591

Property Type Single Family Residence

Price Type --

Arcadia-lite living at an affordable price. This 3-bedroom, 2-bathroom home sits on a large lot near the great shops and restaurants of Arcadia. This mostly remodeled home--including a new AC--features quartz countertops, stainless steel appliances, and new flooring throughout most of the common areas. In addition to the main home, there is a fully furnished 196 square foot office/studio with electricity and AC overlooking the pool and back yard. The one-car garage is equipped with a TESLA home charger on a dedicated breaker. Professionally installed turf and pavers are in the front yard and pool area.

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1291 W Treasure Trail Apache Junction, AZ 85120

$604,990

4 Beds

2 Baths

2,432 SqFt

Status Active

MLS # 6750806

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. The Avelino floor plan offers a refined single-story design with four bedrooms, including an AllGen suite, and a spacious flex area ideal for an office, TV room, or study. Featuring front yard landscaping, this home will be ready for occupancy in October or November. Conveniently situated near community parks, grocery stores, and dining options.

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32000 N 117th Avenue Peoria, AZ 85383

$604,990

3 Beds

2 Baths

1,921 SqFt

Status Active

MLS # 6754803

Property Type Single Family Residence

Price Type --

It's the Clover with 3 bedrooms + flex space to use as you wish, 2 baths. This home has a large walk-in shower at owner's bath with tile surrounds. Multi slide door that leads out to the covered patio. Pavers at drive, walk and entry. Stainless steel gas appliance package with 36'' cooktop, wall oven and glass canopy hood. Maple linen-off white cabinets with 42'' uppers in kitchen with pull out trash drawers. AZT Steel gray granite in kitchen and much more. Amenity Rich Mystic includes a Resort Style community pool, Rec center with year-round events, Hiking paths & community parks. The perfect location- close to shopping, restaurants, golf, Lake pleasant and the loop 3. Estimated completion April. PHOTOS IN THIS LISTING ARE OF THE CLOVER MODEL HOME.

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16430 W Desert Mirage Drive Surprise, AZ 85388

$604,990

4 Beds

3 Baths

2,623 SqFt

Status Active

MLS # 6754292

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! It's the stunning Topaz - 4 bedrooms with walk in closets + study and 3 full baths. Plenty of counter space and large walk in pantry. Pavers at drive, walk and entry. Large extended covered patio. Beautiful kitchen includes gas appliance package with stainless steel 30'' cooktop, wall oven and hood. Sonoma maple ''Linen-off white) cabinets with 42'' kitchen uppers with pull out trash drawer. AZT Tawny quartz countertops at kitchen. Black single bowl under mount sink. Upgrade flooring includes Beaumont Olmo 7x24 plank tile with 5'' baseboards and 3 1/4'' door casings throughout. Two tone interior ''Great Gray'' paint throughout. 8' tall garage doors and so much more. Please verify all information with onsite agent. Thank you!

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37645 W Padilla Street Maricopa, AZ 85138

$604,990

4 Beds

3.5 Baths

2,652 SqFt

Status Active

MLS # 6697374

Property Type Single Family Residence

Price Type --

Introducing luxury living, embrace the opulence of a new home previously exclusive to Scottsdale and the East Valley. Experience the versatility of our Flagstaff plan, featuring the Extra Suite Plus - a dedicated space ideal for multi-generational living! Your gourmet kitchen boasts stacked cabinetry, double ovens, and a gas cooktop. Relax in your spacious Spa Shower, entertain on the patio, or use the FOUR CAR GARAGE for all your toys! With 10ft ceilings, 8ft doors, and 8,750 sq ft homesites, K. Hovnanian Homes stands out! Move in by late summer and start your luxurious lifestyle! ^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

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3294 E Saddletree Way San Tan Valley, AZ 85140

$604,990

4 Beds

3 Baths

2,649 SqFt

Status Active

MLS # 6766622

Property Type Single Family Residence

Price Type --

Welcome to Wales Ranch! San Tan Valley's newest master planned community with a wealth of amenities to enjoy. Conveniently located with easy access to great local attractions and amenities, including shopping and dining at Queen Creek Marketplace, outdoor recreation at San Tan Regional Park, fresh produce at Schnepf Farms and popular sites such as Queen Creek Olive Mill. A copy of the public report is available on the Arizona Department of Real Estate's website.

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