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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7604 W Molly Drive Peoria, AZ 85383

$550,000

3 Beds

2 Baths

1,882 SqFt

Status Active

MLS # 6708257

Property Type Single Family Residence

Price Type --

Beautiful home in the gated community of Rock Springs featuring 3 Bedrooms/Den/2 Bathrooms and Pool! Don't miss this opportunity to purchase this low maintenance, upgraded, modern gem. Located on a corner lot, North/South facing, extended driveway are all exterior bonus features. The interior showcases an open-concept Great Room, modern kitchen with spacious island for entertaining, and recessed entertainment wall. The den or flex-room is located off of the Great Room and the two other bedrooms are split from the Master Bedroom. The upgraded garage has storage cabinets, overhead storage, and space for refrigerator. Energy efficiency and low utilities are other features of this well built home.

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17780 W Canto Bonito Lane Surprise, AZ 85387

$550,000

2 Beds

2 Baths

2,019 SqFt

Status Active

MLS # 6721721

Property Type Single Family Residence

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Your ideal home awaits in the vibrant 45+ community of The Grand. This meticulously maintained Sierra model blends luxury and functionality. Updated in 2019, it features laminate plank flooring and tile in the bathrooms and laundry. The kitchen offers granite countertops, a glass backsplash, a center island, Maytag SS appliances, recessed lighting, and bay windows overlooking the courtyard. The oversized primary bedroom boasts bay windows, a walk-in closet, and a tiled shower with a frameless glass door. Enjoy a split guest bedroom, spacious den, new 2024 HVAC, and North/South exposure. Relax in your private courtyard and explore all The Grand has to offer!

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1108 E Carter Drive Tempe, AZ 85282

$550,000

3 Beds

2 Baths

1,396 SqFt

Status Active

MLS # 6716917

Property Type Single Family Residence

Price Type --

Heated saltwater pool and spa in Tempe! Wood burning fireplace. No HOA. Storage closet in garage. Listing Broker has vested interest in home.

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14634 W Wethersfield Road Surprise, AZ 85379

$550,000

4 Beds

3 Baths

2,298 SqFt

Status Active

MLS # 6725415

Property Type Single Family Residence

Price Type --

This gem will surely impress you! Beautiful 4-bedroom property adorned with stone accents, a 2-car garage, and a welcoming front porch is the one! Inviting hallway ushers you to the captivating open layout, featuring tall ceilings, plantation shutters, a trending palette, and stylish tile flooring. The immaculately designed kitchen is fully equipped with an electric cooktop, double wall ovens, and a pantry. Sleek quartz counters, tile backsplash, white shaker cabinetry with crown molding, and an island with a breakfast bar elevate the space. French doors open to the sizable den! Primary retreat has plush carpeting, a private bathroom, and a walk-in closet. The home's elegance extends outdoors to the backyard with a covered patio, artificial turf, and a gazebo. Hurry! Don't miss out!

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2944 N Meadow Lane Avondale, AZ 85392

$550,000

5 Beds

3.5 Baths

3,630 SqFt

Status Active

MLS # 6741750

Property Type Single Family Residence

Price Type --

Garden Lakes Basement Home!! Discover your next home in the Garden Lakes community of Avondale, AZ. A true oasis in the desert landscape, Garden Lakes offers its residents the opportunity to boat, fish or just take in the view. This two-story residence with a basement boasts 5 bedrooms, 3.5 baths, and a 3-car tandem garage, situated on a desirable corner lot. With over 3000 sq. ft. of living space, the interior features granite countertops, a primary suite on the main floor with a Jacuzzi tub, and a wet bar in the basement. Recent upgrades include a new roll comp patio roof, newer tile roof with warranty, exterior paint, and AC units all replaced within the last 5 years. Ideally located near I-10 and 101 freeways, this home offers space, comfort, and convenience.

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2045 E Orange Street Tempe, AZ 85281

$550,000

6 Beds

2 Baths

1,752 SqFt

Status Active

MLS # 6730083

Property Type Single Family Residence

Price Type --

Welcome to this beautifully renovated home, boasting a brand new facade with fresh exterior paint that exudes curb appeal. Step inside to discover a large open living space, freshly painted interiors and new flooring, creating an inviting atmosphere throughout. The kitchen showcases sleek quartz countertops, new appliances including a refrigerator and electric stove. Retreat to updated bathrooms boasting new vanities, and updated shower tiling completing the luxurious feel of this home. Step into the backyard ready for limitless possibilities and an RV gate! No HOA to tell you what you can or cannot do with your home! This residence epitomizes turnkey living at its finest, come see it for yourself !

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2939 W Plum Hollow Drive Anthem, AZ 85086

$550,000

3 Beds

3 Baths

1,957 SqFt

Status Active

MLS # 6738833

Property Type Single Family Residence

Price Type --

Nestled in the guarded and private Anthem Country Club, this lovely 3 bedroom and 3 bath home features a 216 sq. ft. Casita and a 1,741 sq. ft. main house with two bedrooms plus a den. The secondary bathroom boasts an upgraded shower, while the primary suite offers double sinks, a separate tub and shower, and a walk-in closet. Hardwood floors adorn the bedrooms and den, and ceiling fans are installed throughout. The kitchen is equipped with stainless appliances, including a gas range and microwave, and skylights brighten both the master bedroom and kitchen. Additional amenities include a laundry room with gas and electric hookups, a two-car garage, and a low-maintenance backyard with no rear neighbors, making it an easy lock-and-leave property. See more info about the community... Residents of Anthem Country Club enjoy a luxurious lifestyle with resort-style amenities. Professionally managed by Club Corp, members get reciprocal privileges around the world. The club features two 18-hole golf courses (Golf membership not included) and two member restaurants. Fitness enthusiasts will appreciate the two state-of-the-art gyms, two pools, two spas, and several tennis courts. All surrounded by stunning mountain and golf course views. This guarded community offers an unbeatable combination of location and luxury, making it a must-see for those seeking a an elevated lifestyle.

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26264 N 43rd Place Phoenix, AZ 85050

$550,000

3 Beds

2 Baths

1,508 SqFt

Status Active

MLS # 6733415

Property Type Single Family Residence

Price Type --

NEW PRICE! Lowest in Tatum Highlands, WITH a pool included! NEW ROOF being installed and has already been bid. Come see this recently updated home in desirable Tatum Highlands. Backing to natural wash area for added privacy and quiet, this home has a sparkling pool for those hot Summer days! 3 well sized bedrooms with new carpet plus an additional den space make this home feel larger than it is. Vaulted ceilings welcome you into the home with a gas burner fireplace and open concept floor plan. Dining area leads into the well appointed kitchen with brand new appliances just installed for new owner. New paint, carpet, lighting and more are all finished. Come see this home today!

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1431 E Wood Street Phoenix, AZ 85040

$550,000

5 Beds

4 Baths

2,136 SqFt

Status Active

MLS # 6738358

Property Type Single Family Residence

Price Type --

PRICED REDUCED TO SELL. Beautifully remodeled property with R-4 multi family residential zoning on HUGE 19,996 sq ft LOT - Endless Potential! Offering immense flexibility, this property is perfect for investors or developers looking to maximize their return, with the potential to build multiple units or houses. Modern upgrades and high- quality finishes throughout the main house. Don't miss this rare opportunity to own a versatile property with significant development potential here in Phoenix.

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14867 W Windsor Avenue Goodyear, AZ 85395

$550,000

4 Beds

3 Baths

3,098 SqFt

Status Active

MLS # 6744603

Property Type Single Family Residence

Price Type --

Get ready to fall in love with this spacious 4-bedroom home boasting 3 full baths, a versatile loft (easily convertible to a 5th bedroom), and a 3-car garage. Nestled in the beautiful Rio Paseo Community in Goodyear. This gem is right in the heart of an entertainment district, surrounded by fantastic restaurants, a theatre, shopping hotspots, walk/bike paths, waterfall pond, parks, and top-notch schools. Step inside to discover a formal living and dining area, a large open kitchen featuring a breakfast bar, granite countertops, and stainless steel appliances (including a refrigerator). Downstairs you'll find a convenient bedroom with a full bath. Home is complemented by stylish touches such as stone decor on the kitchen island, a single bowl kitchen sink, new blinds and laundry room with built-in cabinets. Upstairs, you'll be greeted by 3 generously sized bedrooms, including an expansive retreat with double doors, a remodeled ensuite with a separate soaker tub and a spacious walk-in shower, double sinks, and a large walk-in closet. The backyard offers a full-length covered patio, providing ample space for your creative vision. Not to mention, several upgrades have been made between 2022 and 2023, including partial roof replacement, new flooring, water heater, water softener, AC units, upgraded kitchen, and remodeled bathrooms. Conveniently located near the I-10 and Loop 303 Freeways. This home is move-in ready and waiting for you to make it your own!

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2522 N 11th Street Phoenix, AZ 85006

$550,000

3 Beds

2 Baths

1,111 SqFt

Status Active

MLS # 6742322

Property Type Single Family Residence

Price Type --

MOTIVATED SELLERS!!! Discover your dream home in the Coronado Historical District. This newly renovated gem features new windows, flooring, and tile throughout. The stunning kitchen boasts custom Euro-style cabinetry, quartz countertops, and new stainless steel appliances. Enjoy updated bathrooms and an enclosed laundry room with cabinetry and a built-in seating area, perfect for an artist studio or more. Open French doors for seamless indoor-outdoor entertaining in the courtyard. The home also offers a brand-new roof with a 10-year warranty, a new hot water heater, turf grass, and front-yard irrigation. Located on a quiet street, yet close to downtown, Roosevelt Row, and Phoenix Country Club. Modern comfort meets historic charm!

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19314 S 208th Place Queen Creek, AZ 85142

$550,000

3 Beds

2.5 Baths

2,185 SqFt

Status Active

MLS # 6751638

Property Type Single Family Residence

Price Type --

New $11,000 PRICE IMPROVEMENT! Welcome to this beautiful & immaculate Gateway Quarter home. Attractive paver driveway, and charming covered front porch with perfect view of landscaped walking trails across the street. Inside a den/office could be 4th bedroom, and the very open great room & kitchen are perfect for Gatherings of loved ones. Recessed lighting, and durable tile flooring. Gorgeous kitchen w/ crown molding on cabinets, granite countertops, stainless steel appliances,gas cook top, a walk-in pantry, and an island with a breakfast bar for casual dining. The main bedroom offers soft carpeting, an en suite with dual sinks, and an enormous walk-in closet. Low maintenance backyard showcases a large covered patio, artificial turf, gravel and Perfect location, Just blocks away from Costco, Aldi, Target, so many restaurants, and a huge tranquil nursery to stroll through.

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