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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16566 W Saguaro Park Lane Surprise, AZ 85387

$595,000

4 Beds

2.5 Baths

2,326 SqFt

Status Active

MLS # 6777846

Property Type Single Family Residence

Price Type --

Lifestyle is Included with this Turn-key, 4 Bedroom, 2.5 Bathrooms, 2023 New Construction home in the most desirable Asante Master-plan Community. With a Rare Sparkling Pebble-tech Heated Swimming Pool featuring a Baja Deck & Self cleaning pop-ups, this backyard features a large Turf Grassy Play-yard, White Travertine Decking, Covered Patio & Mountain Views. Large Desert Wash behind the home. Add this Lifestyle to the perfectly upgraded interiors with a Gas Stove/Oven Kitchen, Microwave, & Refrigerator/Washer/Dryer Included. 3 Car Tandem Garage, Ring Doorbell, Walk in Pantry, Split Floor-plan. Easy access to the 303, Shopping, Dining, Restaurants, Services. Location, Location, Location.

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8053 E Natal Avenue Mesa, AZ 85209

$595,000

3 Beds

2 Baths

1,995 SqFt

Status Active

MLS # 6773042

Property Type Single Family Residence

Price Type --

This gorgeous home has a true deep 3 car garage. The kitchen overlooks a large, vaulted living room and dining room. The kitchen also is vaulted and shows upgraded cabinets, quarts countertops, breakfast bar, designer tile backsplash, upgraded stainless steel appliances and much more. 24'' designer tile flooring in all traffic areas. Newer roof and A/C.

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1392 E Sierra Madre Avenue Gilbert, AZ 85296

$595,000

4 Beds

2.5 Baths

2,039 SqFt

Status Active

MLS # 6773240

Property Type Single Family Residence

Price Type --

Welcome to this stunning, updated two-story home situated on a prime corner lot directly across from a large community park. Enjoy easy access to a playground, volleyball courts, ramada, and open green spaces—perfect for outdoor activities and relaxing afternoons. This home offers north/south exposure, filling the interior with natural light throughout the day. All bedrooms are located upstairs, providing extra privacy from the main living areas. The kitchen has been fully updated with modern appliances and a reverse osmosis system, making it as functional as it is stylish. The backyard is a true oasis, featuring a large pebble tec pool, ideal for cooling off during hot Arizona summers or hosting weekend gatherings.

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21199 E Domingo Road Queen Creek, AZ 85142

$595,000

4 Beds

3 Baths

2,241 SqFt

Status Active

MLS # 6775346

Property Type Single Family Residence

Price Type --

Welcome to your beautiful home in Nauvoo Station! This stunning 4-bedroom, 3-bathroom home offers a light, bright and open concept layout, perfect for modern living. The spacious great room flows seamlessly into the bright and open kitchen, complete with stainless steal appliances and plenty of storage. The primary suite is a true retreat, featuring a large shower, expansive walk-in closet, and ample space to unwind. A versatile bonus room can be used as a home office, kids playroom or teen hangout space, allowing flexibility to meet your family's needs. Step outside to the entertainer's backyard, where you'll find a sparkling pool, turf, low-maintenance hardscape, a cozy fire pit area, and a built-in gas grill - perfect for gathering with family and friends. Don't miss out on this home!

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4513 Jackpot Road Wickenburg, AZ 85390

$595,000

2 Beds

2 Baths

1,818 SqFt

Status Active

MLS # 6777905

Property Type Single Family Residence

Price Type --

Discover 4513 Jackpot Rd, a gem in the Trilogy at Wickenburg Ranch! 55+ and Living Resort. Part of the rare and discontinued Maverick Collection, this 2021-built, single-level home offers 1,818 sq ft of modern living with 2 master bedrooms, each with a full bath, plus a guest half bath. The open floor plan includes a versatile den, a stylish kitchen with GE appliances, and a large island with a double basin sink. Enjoy breathtaking views of the Weaver Mountains from the backyard, featuring a built-in BBQ, firepit, and stone patio with a cover. Complete with a 2-car garage, this home is listed at a great price! Don't miss out! Home will be sold unfurnished.

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5104 N 32nd Street Unit 105 Phoenix, AZ 85018

$595,000

2 Beds

2 Baths

1,277 SqFt

Status Active

MLS # 6779143

Property Type Apartment

Price Type --

This beautifully remodeled condo in the most desirable building at The Meridian, it's just steps away from a resort-style pool, shopping, and dining. This 1277 square foot two-bedroom, two-bath condo has been meticulously reimagined. The interior boasts modern flooring, custom baseboards, unique doors, and a custom-designed media wall cabinet that enhances the living space. A custom designer kitchen with elegant cabinetry, a premium stainless Hansgrohe faucet, designer series Kitchenaid stainless steel appliances, a built-in 24'' two-zone beverage and wine center, and a stunning black satin granite countertop. Just wait if the living room and kitchen weren't enough to make your jaw drop. The large Pirmary suite includes a spa-like bath featuring a James Martin vanity, Taj Mahal quartzite countertops, a free-standing soaking tub, and designer Kohler fixtures. Additional features include custom-designed closets, designer lighting, a Nuvo water system, a new sliding glass patio door, new windows, and a solar patio sunshade. This condo offers a perfect blend of style, luxury, and efficiency in the heart of Arcadia and Biltmore living, making it an ideal place to call home.

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5711 E Greenway Street Mesa, AZ 85205

$595,000

4 Beds

3 Baths

2,201 SqFt

Status Active

MLS # 6780661

Property Type Single Family Residence

Price Type --

Welcome to the desirable Alta Mesa neighborhood! This spacious cul-de-sac home features a versatile finished split-level basement, complete with a large bedroom and full bathroom, perfect for an in-law suite, home theater, game room or gym. Enjoy energy savings with a brand-new, paid-off solar system—no complicated lease! The new roof and AC provide comfort and peace of mind year-round. The stunning kitchen boasts custom cabinets, granite island countertops, and a large pantry. Freshly painted interiors create a bright, inviting atmosphere, ready for your personal touch. The expansive private backyard is a summer oasis, adjacent to a sparkling pool for relaxation. Nestled among lush golf courses and community parks, this home combines serene living with easy access to outdoor recreation. Located just minutes from Boeing, grocery stores, Mendoza Elementary, and Shepard High School, this property has it all. Don't miss your chance to own a beautiful home in a fantastic location!

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15646 S 43rd Way Phoenix, AZ 85048

$595,000

4 Beds

2.5 Baths

1,947 SqFt

Status Active

MLS # 6781941

Property Type Single Family Residence

Price Type --

This 4 bed 2.5 bath home offers ample yet cozy space. As you step in you will notice the cathedral ceilings and the pillar off of the foyer. The kitchen has the space for entertaining and cooking as it flows directly into the family room and you will find all the bedtooms upstairs. The backyard features a pool and even more room to entertain or just relax on a sunny day. The home is located close to shopping dinning and is minutes away from major freeways.

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7122 W Spur Drive Peoria, AZ 85383

$595,000

3 Beds

2 Baths

1,737 SqFt

Status Active

MLS # 6785445

Property Type Single Family Residence

Price Type --

Don't wait for a new build—you have it all in this 2020 built Pulte Sagebrush model! This stunning 3-bedroom, 2-bathroom home is perfectly situated on a desirable corner lot in the sought-after Aloravita neighborhood, featuring multiple playgrounds and beautiful green spaces for gathering with friends and family. The home boasts a thoughtfully designed floor plan with a stunning color palette throughout, a large covered patio for outdoor living, and a beautifully landscaped backyard with room for entertaining and children's play. Inside, you'll find a modern kitchen with quartz countertops and premium finishes, a spacious primary suite extended 2 feet in the bedroom and luxurious en-suite bathroom. The separate laundry room is complete with cabinets and a laundry sink. Additional upgrades include a tankless water heater and water softener. An ideal location near shopping, top-rated schools, and within a popular school district. This home offers comfort, style, and conveniencedon't miss this opportunity!

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40937 N Majesty Way Anthem, AZ 85086

$595,000

4 Beds

2.5 Baths

2,469 SqFt

Status Active Under Contract

MLS # 6750370

Property Type Single Family Residence

Price Type --

*VA ASSUMABLE LOAN AT 3%. LEASED SOLAR PAID OFF.* Location is everything! This home is settled in a quiet neighborhood with a trail entrance right next door connecting you to 13 miles of lush desert trails, 2 parks within a 5-minute trail walk, and the K-8 elementary school is just blocks away. Not to mention the one-of-a-kind comraderie and sense of community this neighborhood offers. This spacious ''Tradition'' floor plan is coveted for it's vaulted ceilings throughout the living space, and fluid layout perfect for hosting and family-time. The large kitchen island, pantry, and wall of cabinets creates the ultimate culinary experience. Conveniently located on the main floor, the extra large primary suite has private backyard access and a large walk in closet. Maintaining privacy, the 3 additional bedrooms and full bathroom are located upstairs. With the 3-car garage, overhead garage storage, multiple walk in closets, custom built-in bookcases, storage under the stairs, and an RV-gate, this property provides all the storage a family could need! This property is on a premium lot where you can enjoy the beautifully designed and low-maintenance backyard with synthetic grass, pavers, a large extended covered patio, and a view fence showing off stunning desert scenery and colorful sunsets!

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7701 E Palm Lane Scottsdale, AZ 85257

$595,000

3 Beds

2 Baths

1,575 SqFt

Status Active Under Contract

MLS # 6767591

Property Type Single Family Residence

Price Type --

Well cared for, a 3 bedroom home with 2baths ,2 car garage ,that is move in ready or ready for you to update to your liking! New AC and water heater in last 24 months, seller even had the sewer pipes sleeved as a preventative measure in the last year. Ample living space inside the home and a beautiful flagstone patio with built in grill and all around new patio covering . Wonderful opportunity in a highly desired Scottsdale subdivision brought to you at a bargain price. You cannot find a better price for a home in this condition with a wood burning fireplace to boot. Shopping within walking distance, and very near Old Town Scottsdale. Walk your dog, ride your bike, or play sports at El Dorado Park across the street. Owner occupied only. See lister for more details

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656 W Minton Drive Tempe, AZ 85282

$595,000

3 Beds

2.5 Baths

2,187 SqFt

Status Active Under Contract

MLS # 6768583

Property Type Single Family Residence

Price Type --

Move in ready super clean two-story home. Cheery and bright throughout with no carpet! This home has been freshly painted, and updated with new granite countertops, new kitchen sink, new light fixtures and faucets replaced. Great 3 bed 2.5 bath open spacious light & bright floorplan. Family room open to kitchen separate Formal living and dining. Ample storage space, Upstairs loft area with built in desk and shelving. Well laid out backyard with mature landscaping, pool and spa. RV gate and extra concrete slab on side of home. Home has a whole home water filtration system to be able to drink from any faucet. Must see home in a fabulous Tempe location near ASU, the I-10, the 60, the airport, and just minutes from Downtown, convenience is at your doorstep.

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