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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20252 W Catalina Drive Buckeye, AZ 85396

$589,990

3 Beds

3 Baths

2,510 SqFt

Status Active

MLS # 6747909

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 Jade floor plan with 3 bedrooms + study, 3 baths and 3 car garage. 12'x8 sliding glass door off the great room. Large walk in shower at owner's bath. Stainless steel gas appliance package with a 30'' cooktop, wall oven, and canopy hood. Additional kitchen cabinets in Sonoma Maple Linen -off white cabinets with 42'' kitchen uppers and pull out trash drawer. AZT Tawny Evening gray quartz countertops in kitchen. Upgrade flooring includes SHW Cedar Grove carpet and Beaumont Olmo 7x24 plan tile in all areas of the home except bedrooms and closets. Upgrade 5'' baseboards with 3 1/4'' door casings. Dual sinks at bath 3, soft water loop, gas stub for future BBQ and so much more. Please verify all information with onsite agent . Thank you!

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14904 N 56th Drive Glendale, AZ 85306

$589,990

4 Beds

3 Baths

2,288 SqFt

Status Active

MLS # 6699889

Property Type Single Family Residence

Price Type --

4 Bedroom + Loft, 3 Baths, 2 Car Garage. KITCHEN: Benton Birch Natural cabinets, Quartz Denali countertops in kitchen, Gas GE Gourmet appliances, Tile backsplash. FLOORING: 6'' x 24'' Wood-look tile, upgraded carpet and pad., mission stair rail Surround sound in great room and loft. Washer dryer and refrigerator

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9316 W Sandstone Mountain Drive Casa Grande, AZ 85194

$589,900

4 Beds

2 Baths

2,350 SqFt

Status Active

MLS # 6769018

Property Type Single Family Residence

Price Type --

Introducing a brand-new 2024 home, featuring 4 bedrooms and 2 baths, nestled on a full acre in an ideal location just minutes from I-10. The spacious and thoughtfully designed floor plan offers vaulted ceilings for an extra sense of openness. The primary suite includes a double-sink vanity, while the bright, open-concept kitchen showcases elegant white quartz countertops and stainless steel appliances, including a stove, dishwasher, and microwave. Enjoy the latest wood plank tile flooring throughout, with cozy carpeting in the bedrooms. Step outside to a large, covered back patio and a fully fenced yard with block walls. The property also features a 3-car garage, and the HOA permits RVs, boats, and other recreational vehicles. Estimated completion: Ready for immediate occupany Large, covered patio and a fully fenced yard with block walls. The property also features a 3-car garage and the HOA permits RV's, Boats an other recreational vehicles. Ready for immediate occupancy.

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21333 W Roanoke Avenue Buckeye, AZ 85396

$589,900

4 Beds

3 Baths

2,141 SqFt

Status Active

MLS # 6766980

Property Type Single Family Residence

Price Type --

Nestled in the highly sought-after Sienna Hills community at the base of the White Tank Mountains, this brand-new, upgraded home offers modern luxury and breathtaking views. Enjoy picturesque vistas of Verrado's custom million-dollar homes and the majestic White Tanks right from your front porch. The backyard is a serene retreat with no neighbors behind, a peaceful hill framed by a view fence, a double gate, and plenty of space for a pool. Inside, the home impresses with white granite countertops, stainless steel appliances, elegant white shaker cabinets, and a stunning walk-in shower. The spacious four-bedroom layout includes a private en-suite, ideal for multi-generational living. Near Odyssey Elementary, Sienna Hills offers a community pool, scenic trails, and a friendly vibe.

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16462 W Lava Drive Surprise, AZ 85374

$589,900

2 Beds

2 Baths

1,870 SqFt

Status Active

MLS # 6767563

Property Type Single Family Residence

Price Type --

Discover this popular Palo Verde model nestled on the 7th green of Granite Falls South Golf Course, offering breathtaking views of the course and White Tank Mountains. The home features a spacious 3-car garage with fresh paint and garage floor. Enjoy natural light streaming through bay windows in the kitchen and primary bedroom. This meticulously maintained residence boasts recent updates, including freshly painted interior and garage 2024 a new A/C system installed in 2018 and fresh exterior paint in 2022. Relax and soak in the stunning views from the back patio. The Grand is a premier age-restricted community for those 45 and older, offering a variety of amenities such as golf, pools, spas, pickleball, tennis, and more.

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16182 W Casa Bonita Court Surprise, AZ 85374

$589,900

3 Beds

2.5 Baths

2,529 SqFt

Status Active

MLS # 6768602

Property Type Single Family Residence

Price Type --

Welcome Home! This Cordova Model Features New Roof 2024, HVAC Replaced in 2021, Exterior Painted 2021, 3 Bedrooms, 2.5 Baths, Electric Stove/Oven, Newer Microwave, Black Slate Whirlpool Refrigerator, RO, Inside Laundry with Cabinets, 3 Car Garage with Sink, Recirculating Hot Water, Lots of Storage, Exit to Rear Yard, on Large cul-de-sac, Extended Front Courtyard, Extended Rear Patio Partially Fence,

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1382 W Chillingham Road San Tan Valley, AZ 85143

$589,900

4 Beds

3.5 Baths

2,679 SqFt

Status Active

MLS # 6775708

Property Type Single Family Residence

Price Type --

Welcome to this stunning beauty in the gated neighborhood of Magnolia Circle. This incredible home features four bedrooms, three and half bathrooms and multiple living areas for a large family! The breathtaking kitchen features a large open concept for a chef and entertainer's dream. Step to the backyard and discover a newly constructed play pool! This home truly has it all at a price that will not last.

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6383 Old Forest Trail Show Low, AZ 85901

$589,900

3 Beds

3 Baths

2,852 SqFt

Status Active

MLS # 6779519

Property Type Single Family Residence

Price Type --

THIS HOME IS LISTED UNDER RECENT APPRAISED VALUE! Main home is 2084 sq Ft and features a separate casita above garage that is 768 sq ft. This charming site-built home sits on 1.01 acres with two driveways. Home, as well as the casita have been recently painted inside and out, new flooring installed throughout the home and has an animal pen with closed shed and metal cover. Main home is 2 bed, 2 bath and a den/potential bedroom, full utility room, large 768 sq ft 3 car garage with storage room, vaulted ceilings, covered patio front and back. Main bedroom has its own balcony with screened door. Guest casita has a separate entrance through garage, full bathroom, wood burning stove, and is large enough for a bedroom section as well as a sitting area, and provides its own hot water heater.

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6501 W Molly Lane Phoenix, AZ 85083

$589,900

3 Beds

2 Baths

2,078 SqFt

Status Active Under Contract

MLS # 6771053

Property Type Single Family Residence

Price Type --

This rare, one-story gem sits on a corner lot & backs directly to a serene mountain preserve, providing both views/sunsets & total PRIVACY! Step inside to find a bright, open-concept great room. Newly updated kitchen showcases modern stainless steel appliances, gas cooktop, charming farmhouse sink, upgraded faucet, pendant lighting & more! Primary BR is spacious with fully remodeled bathroom and stand alone soaking tub, quartz double vanity. Other features inc: Water Softener, R/O, Garage Floor Epoxy, professional paint throughout, replaced outlets, door hardware, ceiling fans, Ring security, yearly A/C tune ups, replaced Garage Rollers, New Thermostat, surround sound, etc. Don't miss this opportunity to own a truly unique property w/peaceful setting, modern conveniences at a great value

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2300 E Campbell Avenue Unit 314 Phoenix, AZ 85016

$589,900

3 Beds

2.5 Baths

1,345 SqFt

Status Active

MLS # 6764225

Property Type Apartment

Price Type --

Luxurious living awaits in this Exclusive Biltmore condo with sweeping pool deck views.An expansive open floor plan boasts engineered wood in living areas and tile in bedrooms, blending elegance and practicality. Modern comforts include a Jack and Jill bathroom, a glass shower with seating, Nest thermostat, and electric roller shades. Culinary excellence meets design with Bosch appliances and a KitchenAid fridge. Savor sunset views from the patio, or unwind in serene, concrete-walled rooms. With 5 owned parking spaces (perfect for a truck parking or rental income), an electric charging station, and the largest private storage unit fully enclosed, this residence delivers unmatched convenience. Concierge service and upscale amenities complete this refined lifestyle at Biltmore Contour Condo

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2059 W Desert Hollow Drive Phoenix, AZ 85085

New

$589,900

3 Beds

2.5 Baths

1,940 SqFt

Status Active

MLS # 6787793

Property Type Single Family Residence

Price Type --

Original owner is ready to pass the baton of home ownership. Built by Ashton Woods in the heart of Union Park at Norterra, this gorgeous and spacious home is an open floor plan with 3 bedrooms, 2.5 bathrooms, and 2 car attached garage. The main level is perfect for lounging or entertaining. The kitchen has plenty of storage space with 42 inch upper cabinets, an island with seating area, and walk in pantry. Modern granite counters and stainless steel appliances (including gas range) compliment the cabinet colors (white and blue). The dining area is near the sliding glass door to outdoor yard. Owner customized the yard with pavers, low maintenance desert plants, and a beautiful water feature. A main floor powder room is a convenience for guests and has beautiful mosaic tile. . floors, as do the upstairs bathrooms. A beautiful metal and wood stair rail leads the way to the upstairs 3 bedrooms. Owner suite is very spacious and has an ensuite with dual sinks, tub, and walk in shower. Owner closet (with attached safe) has access to the laundry room (front load washer and dryer included). Two other bedrooms and bathroom are split from owner suite.

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3915 E Kimberly Way Phoenix, AZ 85050

$589,900

3 Beds

2.5 Baths

1,924 SqFt

Status Active

MLS # 6787117

Property Type Single Family Residence

Price Type --

Welcome to your new home! Perfectly situated near Highway 51 and Union Hills Road for easy commuting, this beautifully updated property is located in the coveted Paradise Valley School District. Step inside and be captivated by the space and the modern upgrades throughout. With soaring ceilings and an open layout, this home is has a place for everyone! The large master suite is a true retreat, offering abundant natural light, a vaulted ceiling, and a stunning, spa-like bathroom (updated in 2023), that features double sinks and lighted mirrors. The spacious walk-in closet is another fantastic feature!! Don't miss the spacious kitchen, with plentiful storage and granite counters. The dining/living room on the main floor, and the loft upstairs are both perfect spaces for flexible needs, such as a home office, crafting, or play area. This home has been meticulously maintained with major updates including a roof restack (2021), furnace and A/C (2023), fresh exterior paint (2021), and new hot water tank (2021). Additional upgrades include a remodeled main bath (2024), new carpet (2020), and a Level 2 EV charger in the garageideal for the environmentally conscious. Some windows have also been replaced. The garage is equipped with built-in storage cabinets, and, for the workout enthusiast, multiple mirrors, creating the perfect setting for a home gym. Enjoy Arizona living at its best in your private backyard oasis complete with a sparkling pool, updated pool equipment (2023), and a covered patio perfect for outdoor gatherings. Take the opportunity to own this move-in-ready home that combines convenience, style, and thoughtful updates.

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