NAHB Housing Market Index Dips 2 Points

According to the National Association of Home Builders, overall builder confidence in housing markets dropped two points in October to an index reading of 63. September’s reading of 65 was the highest posted since the housing bubble peak. Component readings for October’s housing market index were mixed; the reading for builder confidence in market conditions over the next six months rose one point to 72. Builder confidence in current housing market conditions fell two points to 69. Builder outlook for buyer traffic in new home developments over the next six months fell by one point to an index reading of 46.

Approaching winter weather likely contributed to lower readings, but builder confidence remained strong. Any reading above 50 signifies that more builders are confident about specific index components than fewer. While home builders continue to be encouraged by low mortgage rates and a stronger job market, they also face obstacles including shortages of labor and buildable lots for development.

High Demand, Low Inventory of Homes Present Ongoing Challenges

High demand for homes coupled with depleted inventory of available homes is sidelining some buyers. As demand continues to drive home prices higher first-time and moderate income buyers are faced with affordability and mortgage qualification challenges. Limited inventory also makes it difficult for home buyers to find homes they want and contributes to competition for available homes. Buyers depending on mortgage financing typically compete with investors and cash buyers for homes in high demand areas.

Real estate pros and analysts monitor home builder sentiment as an indicator of future home supplies, but builder sentiment and housing starts don’t necessarily correspond. Given high home prices and strict mortgage qualification standards that sideline some buyers, it appears that home builders are taking a moderate stance toward ramping up construction.

In addition to boosting real estate markets, building homes provides jobs and supports local economies. Building homes creates demand for construction materials and related products and services.

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1135 N Harold Street Tempe, AZ 85288

$649,000

4 Beds

3.5 Baths

2,140 SqFt

Status Active

MLS # 6759462

Property Type Single Family Residence

Price Type --

Welcome to this stunning 4-bedroom, 3.5-bathroom home that radiates modern elegance with a neutral color scheme and light, bright atmosphere throughout. The open floor plan is complemented by beautiful plank-style flooring, creating a sleek, contemporary look. Natural light pours into every room, enhancing the airy feel of the space. The heart of the home is the spacious kitchen, featuring a large island perfect for meal prep and gatherings. Conveniently included is a washer and dryer, making this home as functional as it is stylish. Ideal for both relaxation and entertaining, this property is a perfect blend of comfort and modern design.

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1139 N Harold Street Tempe, AZ 85288

$649,000

4 Beds

3.5 Baths

2,140 SqFt

Status Active

MLS # 6759465

Property Type Single Family Residence

Price Type --

Welcome to this stunning 4-bedroom, 3.5-bathroom home that radiates modern elegance with a neutral color scheme and light, bright atmosphere throughout. The open floor plan is complemented by beautiful plank-style flooring, creating a sleek, contemporary look. Natural light pours into every room, enhancing the airy feel of the space. The heart of the home is the spacious kitchen, featuring a large island perfect for meal prep and gatherings. Conveniently included is a washer and dryer, making this home as functional as it is stylish. Ideal for both relaxation and entertaining, this property is a perfect blend of comfort and modern design.

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1432 Varsity Drive Prescott, AZ 86301

$649,000

2 Beds

2 Baths

1,700 SqFt

Status Active

MLS # 6761462

Property Type Single Family Residence

Price Type --

Do you dream of evenings filled with serenity & beauty? Relax & enjoy stunning views through 12' sliding glass doors opening to an over-sized deck. These amazing views are some of the few in Astoria that will never be lost! Beautiful Prescott sunsets, views of the Golf Course, Willow Lake, the Dells, Granite Mtn., and gorgeous distant mountain views await. Set in charming Astoria in Prescott Lakes, this lovely home offers a split floor plan for privacy, & a flex space for an office/ den/ library. A beautiful kitchen with a stainless refrigerator, a large pantry, & a breakfast bar flows into the living room & out onto the deck. The primary bedroom, luxurious bath & large walk-in closet are on one side of the house, & a guest room & bath are on the other. The laundry room opens into a 2-car garage with storage. Note the details: a paver driveway & wrap-around front porch, amazing privacy from neighbors, ceramic tiled floors, gorgeous granite kitchen counters, upgraded lighting & fixtures, and more. The back yard is fenced, both the back and front yards are landscaped & on drip, & the unfinished lower level offers the potential for more living space and/or storage.

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4310 Buffalo Ridge Wickenburg, AZ 85390

$649,000

2 Beds

2 Baths

1,986 SqFt

Status Active

MLS # 6769421

Property Type Single Family Residence

Price Type --

GATED COMMUNITY. Perfect for SNOWBIRDS! FULLY FURNISHED! Luxury living in the desert! Championship Golf Course-Big Wick-18-hole, par-71; Little Wick-9 hole, par 3 course; Dining; Pool; spa; Art Barn; Culinary Parlor; tennis; Pickleball; 3 bars; full salon; fitness room; walking path & much more! Fully UPGRADED custom home. Premium corner lot. Located next to the Wickenburg Ranch Lake Park. Move in ready, down to the pots & pans. 2 bed 2 bath. Separate dining room. Tile plank flooring thru out. Gourmet kitchen w/LG Stainless Steel appliances, oversize kitchen island, Quartz counters. Master bath spa feel, custom walk-in shower. Smart space in laundry room. 3 car garage-room for your golf cart. Landscape will be beyond your expectation. Freshly painted inside & out. Come take a look!!

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17379 W Guthrie Street Surprise, AZ 85388

$649,000

3 Beds

2.5 Baths

1,948 SqFt

Status Active

MLS # 6765870

Property Type Single Family Residence

Price Type --

No neighbor on both sides, next to a PARK, and at the end of a cul-de-sac! Over $100,000 in upgrades including iron front door, extensive brick patios, pergola, whole house gutters, shutters, upgraded kitchen appliances, new custom painted cabinets throughout, executive glass in showers, upgraded fixtures, fans, whole house tile, landscape with lighting. The Sterling Grove Golf & Country Club has an 18 hole golf course, multiple pools, gym, restaurant, and many activities for the entire family. This home is in a 55+ section.

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2917 N 8th Avenue Phoenix, AZ 85013

$649,000

3 Beds

3 Baths

1,708 SqFt

Status Active

MLS # 6770545

Property Type Single Family Residence

Price Type --

Are you a savvy, creative buyer looking for an unbelievable investment? THIS is it! Completely modern and updated single level home with a separate guest house make this property unique and open for opportunity. Whether you're thinking of ''house hacking'' with rental income or looking to create double cash-flow off one property, there are SO many options. Main house is 1081sqft & guest house 627sqft with two RV gates to create space and separation if desired. Cozy interiors feature a clean, neutral palette, ceiling fans, window blinds, and wood-look tile throughout the entire house. Sewer, electrical, A/C, new cabinets, tile, windows doors, A/C ducts, new water lines, blown in insulation - all of it is DONE and move-in ready!

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420 W Cherrywood Drive Chandler, AZ 85248

$649,000

2 Beds

2 Baths

2,618 SqFt

Status Active

MLS # 6772924

Property Type Single Family Residence

Price Type --

Welcome to Ironwood Country Club located in the heart of Sun Lakes Community and it's many amenities. This stunning Borgata model is full of recent upgrades throughout the spacious layout. This 2 BD, 2 BA amazing home features a separate den/office with built in shelving. Enjoy a formal living/dining room complete with 3'' wood Shutters. Large kitchen, casual dining area and family room with slider to the paved oversized back patio and low maintenance backyard. Or enjoy the lovely evenings on the front patio. 3 car garage with vinyl flooring, custom cabinets, and EV charging station ready.

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2320 W Forest Pleasant Place Phoenix, AZ 85085

$649,000

5 Beds

3 Baths

3,097 SqFt

Status Active

MLS # 6772177

Property Type Single Family Residence

Price Type --

Remodeled home on a quiet cul-de-sac! Inside, you'll find a welcoming living room with high ceilings, a soothing color palette, luxury vinyl plank flooring and tall baseboards. Continue to the great room, which includes an inviting fireplace and open concept perfect for entertaining. The kitchen comes with granite counters, wood cabinetry, recessed lighting, SS appliances, walk-in pantry, and a two-tier island with breakfast bar. Double doors lead to the spacious main bedroom, complete with a light and bright ensuite offering double vanities, a jetted tub, and walk-in closet. Owned solar helps keep utilities low. The backyard showcases a covered patio and built-in BBQ for weekend get togethers. This home is a blank slate waiting for you to customize.

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10841 E Oro Avenue Mesa, AZ 85212

$649,000

3 Beds

2 Baths

2,159 SqFt

Status Active

MLS # 6773993

Property Type Single Family Residence

Price Type --

Un Paralled House to call Home! Lots of tasteful extras above similar versions of the popular, open 2150 plan. CURB APPEAL Fasioncolor!. upgraded stack stone columns. Epoxy patio. Magnificant large EZ care light colored floor tile. Staggered kitchen cabinets. Four large windows replaced by Pella, All ten ft ceilings including garage, 4 window door to golf cart garage. Six solatube skylights. 7 fans. Master has BOTH tub & separate shower. Master expanded TEN FEET! Great libary/music/office/tv room. Dynamite back yard with Pergola.Exceptional built in BBQ to entertain a crowd! Pavers going left & right.Side gate/storage, south patio. MUST see! Gentle pet; keep doors closed during showing please.

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710 E Peoria Avenue Phoenix, AZ 85020

$649,000

3 Beds

3 Baths

1,913 SqFt

Status Active

MLS # 6778988

Property Type Townhouse

Price Type --

Discover Resort-Style Living in the sought-after Community of the Pointe Tapatio at North Mountain. This 3 bedroom/3 full bath home is a 'hidden gem'. Don't miss out on this exceptional property that combines luxurious living with practical design. Comfortable living room and adjacent dining area, ideal for hosting dinner parties. New kitchen with cozy Breakfast Room. An upstairs 'secondary' Master Bedroom Suite with covered Balcony overlooking North Mountain. Beautifully appointed bathrooms with quartz countertops, Moen faucets, and walk-in showers with custom glass doors in two of the three bathrooms. Two stained-glass plus Celestial windows shimmer light throughout the home. Conveniently located to hiking/biking trails, restaurants, boutiques, and the Hilton Pointe Resort. Walk across the street to a Heated Pool and Spa where you can view a magnificent water feature. Home is situated in the Central Phoenix Corridor, the Nexus of the City's Art and Culture scene. Meticulously landscaped with two covered patios and a putting green, creating a serene and inviting environment for relaxation and recreation with family and friends. Easy access to world-class golf courses, downtown Phoenix, and Sky Harbor Airport. Exterior paint in 2023. Roof is 6 years old. A/C System is 5 years old. Move-in Ready!

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5819 N 88th Lane Glendale, AZ 85305

$649,000

5 Beds

3.5 Baths

3,038 SqFt

Status Active

MLS # 6781902

Property Type Single Family Residence

Price Type --

Move-in Ready!! Perfect for large family or in-laws. Clean and fresh home with upgrades throughout. Massive open floor plan with entertainment in mind. Luxury kitchen with white cabinetry, granite countertops, large island, stainless appliances, upgraded tile flooring and pantry opens to the massive family room with plantation shutters throughout. Owner's suite, guest bedroom w/ensuite and den on main floor. Three spacious bedrooms upstairs with a large loft. Calming neutral palate and central vacuum system throughout. Tankless water heater, sink and EV charger in garage. New maintenance free back & front yards with pavers and artificial turf. Wait no longer--your dream home awaits!!

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5721 N 13th Street Phoenix, AZ 85014

$649,000

3 Beds

2 Baths

1,213 SqFt

Status Active

MLS # 6782306

Property Type Single Family Residence

Price Type --

This beautifully remodeled ranch-style home, located in the desirable north central corridor, offers 3 bedrooms and 2 bathrooms. Completely renovated in 2022, it boasts an open floor plan, custom cabinetry, stainless steel appliances, a gas stovetop, and a large center island - perfect for both cooking and entertaining. Both bathrooms have been tastefully updated. The home is adorned with new wood-look plank tile throughout, The backyard is a true retreat, complete with a large covered patio and a newly installed heated pool. Additional features include dual-pane windows, recessed lighting, a new AC unit (2022), new shutters, completely updated plumbing and electrical systems. located near the area's best dining and the highly sought-after Madison schools.

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