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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1178 E Betsy Lane Gilbert, AZ 85296

$600,000

4 Beds

2 Baths

1,642 SqFt

Status Active

MLS # 6779119

Property Type Single Family Residence

Price Type --

A RARE FIND IN GILBERT! 3CAR GARAGE+RV GATE WITH POOL & 2017 AC UNDER 600K! THIS GREAT HOME FEATURES AN OVERSIZED BACKYARD BOASTING A LOVLEY POOL,ABOVE GROUND REDWOOD SPA,LARGE GRASS SPACE, SATIO TILE COVERED PATIO W/MISTERS.MATURE LANDSCAPE W/FRUIT TREES ALONG WITH EXTENDED PATIOS & WALKWAYS! AMPLE SPACE BEHIND THE RV GATE FOR TOYS. YOUR BUYERS WILL ENJOY THE HIGH VAULTED CEILINGS & OPEN FLOORPLAN! ALL OF THIS WITH AN INCREDIBLE GILBERT LOCATION CLOSE OF SOME OF THE BEST SHOPPING, DINING & ENTERTAINMENT IN THE EAST VALLEY!

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2457 N 26th Street Mesa, AZ 85213

New

$600,000

5 Beds

2 Baths

2,120 SqFt

Status Active

MLS # 6787912

Property Type Single Family Residence

Price Type --

You'll LOVE this beautiful 5-bed, 2-bath home in a great Mesa location! Featuring a 3-car garage, RV gate, & a grass front yard w/fruit tree. Home exudes sophistication with vaulted ceilings, neutral paint, chic light fixtures, and tile & soft carpet t/out. If entertaining is on your mind, the spacious open layout will surely impress you! The kitchen boasts built-in appliances, a pantry, recessed lighting, granite counters, a center island, ample white cabinetry w/crown molding, and a peninsula w/breakfast bar. Double-door main bedroom has a walk-in closet and an ensuite w/dual sinks & a tiled shower. Moving outdoors, tranquility awaits in the large backyard! A covered patio, lush lawn, playset, well-laid pavers, in-ground trampoline, & a storage shed complete the picture. Welcome home! New roof with premium underlayment completed in the fall of 2023. Upgraded electrical panel in March 2024.

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1427 W Via Del Oro -- Queen Creek, AZ 85140

$600,000

2 Beds

2.5 Baths

2,158 SqFt

Status Active

MLS # 6785926

Property Type Single Family Residence

Price Type --

Discover this beautifully upgraded 2-bedroom + Den, 2.5-bathroom home spanning 2,157 sqft. The open-concept great room is perfect for entertaining, complemented by a private master suite with a spacious walk-in closet. Recent enhancements (July 2023) include stylish pendant lights, high-quality overhead fans, plantation shutters, Hunter Douglas vertiglide for the sliding door, and custom paint. The backyard is an entertainer's dream with turf, paver accents, a BBQ platform, automatic lighting, and lush landscaping. The garage boasts ample storage with cabinets and overhead bins, plus app-controlled access. Modern appliances, upgraded finishes, and smart features elevate this home - it's better than new and completely turn key!

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2383 W Whisper Rock Trail Phoenix, AZ 85085

New

$600,000

4 Beds

2.5 Baths

2,155 SqFt

Status Active

MLS # 6788534

Property Type Single Family Residence

Price Type --

Nestled in the desirable gated 24 North Community. This home features 2,155 sq ft with 4 bedrooms, 2.5 bathrooms. Enjoy this clean, sophisticated palette with an open, airy layout, perfect for today's lifestyles. The main level has ample space for entertaining or relaxation. Upper loft area for additional living space. Light and bright laundry area boasts storage/cabinets. Enjoy your outdoor living space, great for tranquility and natural serenity. Low maintenance front yard and backyard. Easy access drive into your two car garage. Including new 2024 A/C. Just steps away from the community pool, dog park and walking trails. Easy road access for seamless commutes. Come take a look today!

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29778 N 129th Glen Peoria, AZ 85383

$600,000

2 Beds

2 Baths

1,635 SqFt

Status Active Under Contract

MLS # 6784213

Property Type Single Family Residence

Price Type --

PRIME LOCATION & RARE FIND - this one-of-a-kind TURN-KEY Flora (furniture included) is situated on an EXTREMELY PRIVATE HOMESITE w/ NATURAL DESERT VIEWS!! Beautiful curb appeal w/ STONE ACCENTS greets you before entering the charming FRONT PAVER COURTYARD. Step inside & you'll be impressed - the pride in ownership is noticed when opening the door - this home is PRISTINE! The EAT-IN Kitchen is equipped w/ Engineered STONE slab, under cabinet & pendant lighting & a PREP ISLAND w/ access to the front crt yrd!! OVERSIZED TILE installed on the diagonal in all the right areas & DEN DOORS w/ MURPHY BED is the perfect flex space!! Step outside to paradise and enjoy the spectacular resort backyard oasis! The HEATED POOL, PRIVATE SPA & ROCK WATER FEATURE is the perfect setting to enjoy the EXPANSIVE DESERT & MOUNTAIN VIEWS!! The EXTENDED COVERED PATIO features a STUNNING FIREPLACE WALL w/ Built-in BBQ - the perfect space to enjoy the Breathtaking Views. Additional upgrades: SUN SHADE off the back patio, Misting System, custom window treatments, RO, Soft Water, Temperature Controlled Garage w/ Storage, 3kw OWNED SOLAR and so much more - Don't miss the opportunity to call this home!!

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2705 W Summit Place Chandler, AZ 85224

$600,000

3 Beds

2 Baths

1,703 SqFt

Status Active

MLS # 6769650

Property Type Single Family Residence

Price Type --

This highly sought-after home, perfectly situated on a prime corner lot, is ready to be yours! The beautifully updated interior showcases fresh neutral paint, tile flooring, and newer windows that fill the space with natural light. Relax or entertain in the cozy living room, complete with newer carpet. The inviting great room features sliding glass doors that lead to the back patio, creating a seamless indoor-outdoor living experience. The gourmet kitchen boasts stainless steel appliances, ample cabinetry, granite tile countertops, and a two-tier island with a breakfast bar. Double doors open to the main bedroom, featuring plush carpeting, a spacious walk-in closet, and an ensuite bathroom with dual sinks and a luxurious floor-to-ceiling tiled shower. The delightful backyard offers a covered patio, artificial turf, and a newer saltwater pool system, newer pump, filter, Pebble Tec finish, LED lighting, and cool deckingperfect for enjoying warm summer days. Don't miss out on this unique gemit will go fast!

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13721 W Aleppo Drive Sun City West, AZ 85375

$600,000

3 Beds

3 Baths

2,103 SqFt

Status Active

MLS # 6783853

Property Type Single Family Residence

Price Type --

Welcome to your FURNISHED dream home in Sun City West. Perfectly situated on the Grandview Golf Course with beautiful views. Enjoy this completely remodeled home w/ open layout, soaring vaulted ceilings, recessed lighting, stylish wood-look flooring, & a cozy fireplace. This kitchen w/ a view boasts granite counters, beautiful cabinetry with crown moulding, pendant lighting, SS appliances, large island with a breakfast bar. You'll also find a den/craft room that provides a versatile space. The main bedroom includes a quaint sitting nook, an ensuite with double sinks, steam shower & a walk-in closet. 2 more bedrooms, one is set up for wheel chair access into the walk in shower. Outdoors space offers: covered patio, pavers, and a serene view of the golf course. New Roof and HVAC 2023

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3256 S Emery Circle Mesa, AZ 85212

$600,000

4 Beds

2 Baths

2,162 SqFt

Status Active

MLS # 6784040

Property Type Single Family Residence

Price Type --

Welcome home to your oasis in the desert! Very well maintained & updated 4 bedroom, plus a den, 2 bathroom, 2162sq ft home. Large bedrooms with no interior steps. Great outdoor space with sparkling pool for entertaining. Smart home technology with owned security system. RV gate to store your boat or RV. Everything has been meticulously maintained from the new patio roof(2023) to the 3 car epoxy coated garage floor. Completely remodeled gorgeous master bath, walk in shower designed for 2 with separate soaking tub. New appliances(2022). And so much more!

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5511 W Aster Drive Glendale, AZ 85304

$600,000

4 Beds

2 Baths

2,144 SqFt

Status Active

MLS # 6686207

Property Type Single Family Residence

Price Type --

COMPLETELY UPDATED!! Stunning Marshall Ranch home on a corner lot with an inviting entrance porch and security screen door. Inside, discover a formal living and dining area, along with a spacious den/office. The kitchen features a dining area, pantry, granite counters, stainless steel appliances, bay window, large island with cooktop, and breakfast bar. The primary suite overlooks the pool and boasts double sinks, jacuzzi tub, shower, and walk-in closet. All bathrooms have been beautifully updated with granite and tile surrounds. A charming loft in bedroom three offers versatility for an office or play area. The backyard oasis includes a covered patio, expansive pool with shelf, and lush green grass.

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3367 Phantom Street Wickenburg, AZ 85390

$600,000

2 Beds

2 Baths

2,019 SqFt

Status Active

MLS # 6708287

Property Type Single Family Residence

Price Type --

FULLY ASSUMABLE 3% LOAN!! 2 BD/2 BA/DEN Nestled in the tranquil desert resort community of Trilogy Wickenburg Ranch, this highly sought-after Cypress floor plan home on a north/south exposure premium lot offers a strong sense of privacy by providing no neighbors in front or behind the home. Upon entering, the residence reveals a grand open and wide floor plan with meticulous attention to detail. The enhanced den, wet bar, and spacious living room, with 9' ceilings and upgraded flooring throughout, create a warm atmosphere for entertaining or quiet evenings. The kitchen exudes both elegance and functionality. It boasts a large 4 seat island and is equipped with upgraded built-in appliances, a gas cooktop, under-counter lighting, a 2nd pantry, upgraded soft close cabinets, along with granite countertops. The luxurious primary suite, adorned with blackout shades/blinds, provides a serene sanctuary. The expansive master closet, featuring a custom closet system with abundant storage, adds a touch of luxury and functionality. The attached en-suite bathroom radiates spa-like indulgence, boasting a walk-in shower and double vanities. The backyard with a spacious covered patio sets the tone for tranquility, while beautifully appointed pavers extend the patio inviting relaxation amidst a beautifully landscaped oasis, adorned with a harmonious blend of native plants and strategic lighting, enhancing the home's innate natural beauty and privacy. Additionally, this home boasts a spacious 2-car garage with overhead storage racks and epoxy-coated floors, providing ample storage space for vehicles and belongings. Furthermore, this home offers an ungraded instant hot water circulation system, a water softener system, and a security system, to enhance comfort along with providing greater peace of mind. Situated in a prestigious Trilogy community, this beautifully upgraded home comes with plentiful amenities including a Troon golf course, a private 9-hole course, a resort pool & spa complex and multiple pickleball courts, while offering a luxury lifestyle effortlessly blending seclusion with accessibility. Experience luxury living at its finest with this exquisite home in Wickenburg Ranch.

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417 N Olive -- Mesa, AZ 85203

$600,000

4 Beds

3 Baths

1,791 SqFt

Status Active

MLS # 6730937

Property Type Single Family Residence

Price Type --

Priced below recent appraisal. Your brand new West Coast Farmhouse inspired home is waiting for you. Designer built, Designer finishes. This 1791 Sf, 4 bedroom, 3 bathroom home has a thoughtful open floor plan, and each room is conveniently wired for internet. The fully insulated detached 2 car garage sits on a 10,000 sf xeriscaped lot ready for all your toys. Conveniently located close to Main Street, Hohokam Stadium, Sloan Park, plus easy access to the 202.

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2316 N Earle Drive Flagstaff, AZ 86004

$600,000

3 Beds

2.5 Baths

1,711 SqFt

Status Active

MLS # 6726104

Property Type Townhouse

Price Type --

It's the lock-and-leave golf course home you have been waiting for! This end unit townhome has a fantastic cul-de-sac location with an elevated view of the 17th fairway and green complex of Aspen Valley Golf Course and is the only duplex-style unit in the Elk Run Townhome community. Be welcomed into the open concept floorplan with open sightlines to the course from the front door and wood-look tile in all the right places. The spacious kitchen features plenty of counterspace and a breakfast bar for casual meals. The dining room is perfect for hosting family and friends. Enjoy the amazing views year-round from the living room complete with a gas fireplace, oversized sliding glass door and clerestory windows. The large deck is ideal for lounging or dining al fresco. Unwind after a long day in the master suite featuring a spa-like soaking tub, his & her sinks, and a private toilet room. Two additional bedrooms and guest bathroom are also upstairs. New exterior paint, attached single car garage and interior laundry are additional bonuses. All this and more located within Continental Country Club which features a community pool, tennis & pickleball courts, clubhouse with fitness center & The Oakmont restaurant, special events, discount of golf greens fees and much, much more! Come see this home today!

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