Home Builder Sentiment Unchanged in November

According to the National Association of Home Builders Housing Market Index for November, builder sentiment was unchanged at a reading of 63. Readings above 50 indicate that a majority of builders are confident about housing market conditions. Readings for three sub-indexes used to calculate the Housing Market Index Readings for builder confidence in current market conditions and market conditions within the next six months were posted at 69. The reading for buyer foot traffic in housing developments was 47. Buyer traffic has not reached the benchmark reading of 50 since the peak of the housing bubble approximately 10 years ago.

NAHB Chair Ed Brady noted that survey information provided by most participating builders was gathered prior to the presidential election. Mr. Brady also noted that Housing Market Index readings have exceeded 60 for the past three months, which indicates slow but steady growth in housing markets.

Analysts: Builder Sentiment and Building Activity Inconsistent

While positive builder sentiment readings seem to contribute to stronger housing markets, analysts pointed out that housing starts are not consistent with high builder sentiment levels. Reasons for fewer home starts than the Housing Market Index suggests include approaching winter weather and ongoing shortages of labor and buildable lots.

Real estate pros count on building more homes (and building them faster) as the only solution to tight supplies of available homes and rising demand. These conditions create highly competitive markets that present obstacles to moderate income and first time home buyers. NAHB said that rising incomes, expanding labor markets and relatively low mortgage rates are fueling demand for homes. While mortgage rates have remained near historic lows, home prices have risen quickly in high-demand areas. This creates affordability challenges for home buyers, who also face strict home loan approval requirements.

3 Month Rolling Averages Show Regional Confidence Readings

NAHB reported its three-month rolling averages according to four regions included in Housing Market Index readings. The Northeast reading was 45; the Midwest region’s confidence reading was 58 and the Southern region reported a reading of 66. The West, which includes high-demand metro areas such as Portland, Oregon and San Francisco, California, had a November builder confidence reading of 77.

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5245 N Grand Canyon Drive Eloy, AZ 85131

$459,000

2 Beds

2 Baths

1,700 SqFt

Status Active

MLS # 6659456

Property Type Single Family Residence

Price Type --

PARTIALLY FURNISHED MONTECITO MODEL on PREMIUM homesite & OWNED SOLAR! 22 solar panels & sellers have not had an electric bill, only credits $$$. There is a beautiful pocket park adjacent to the home with walking paths & benches. Beautiful 2 bedroom, 2 bath home, Den + a golf cart garage w/4 ft ext. Bay windows in Dining, Master & Guest room! Kitchen features upgraded cabinets, Gas range, SS appliances, Quartz countertops, tile backsplash, Reverse osmosis, under cabinet & pendant lighting. Large neutral tile throughout (carpet in bedrooms only). So many upgrades like the gated stucco trash enclosure at the side of the home, 2-tone paint, highly upgraded window treatments & fans in every room. Front & back of the home are professionally landscaped. This is a must see! Welcome home!

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10438 E Twilight Drive Sun Lakes, AZ 85248

$459,000

3 Beds

2 Baths

1,972 SqFt

Status Active

MLS # 6662510

Property Type Single Family Residence

Price Type --

Here's the home that will fit both your lifestyle and finances. Ample opportunity to put your personal touches and imagination to make it you! Great room flows seamlessly in to the dining room, kitchen and breakfast room. Spacious Primary bedroom with patio access and updated bathroom. Large secondary bedrooms that overlook the front courtyard area. Updated guest bathroom. Additional 392 SQ FT of Bonus Rooms, ideal for home office, hobby, fitness or workshop. Use one for work and the other for play! Backyard covered patio is perfect for afternoon get-togethers after golf with friends. Very private, expansive backyard. Garage offers plenty of space for vehicles along with tons of storage. Ready to live the resort life? Come check out all this community has to offer and make the move! January 2024, All tile sections of the house and garage have had felt replaced, tiles reinstalled, broken tiles replaced and new flashings installed.

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17222 N Palo Verde Drive Sun City, AZ 85373

$459,000

2 Beds

2 Baths

1,967 SqFt

Status Active

MLS # 6674343

Property Type Single Family Residence

Price Type --

Completely REMODELED. BEAUTIFUL HOME INSIDE & OUT. GREAT ROOM CONCEPT. Sought after 55+ community. Newer ROOF & HVAC. NEW LOW E WINDOWS, DOORS, STUCCO/ROCK VENEER. WALLS & POPCORN CEILINGS REMOVED, CEILINGS RAISED new DRYWALL TEXTURE, VINYL PLANK FLOORING, CARPET & 4' BASEBOARDS. 2 tone paint inside & out, TILED showers, new tub, QUARTZ vanities! DOUBLE SINKS in PRIMARY. New Can lighting & electrical outlets. Nice Light fixtures. LARGE BEDROOMS w/Big CLOSETS! NEW SS APPLIANCES, QUARTZ COUNTERTOPS, CABINETS, TILE BACKSPLASH, faucets, sink, garbage disposal. New Hardware. TILED BACK PATIO. Garage Cabinets. NEW EPOXY FLOOR. Citrus trees. INSIDE LAUNDRY/NEW W&D. NEW ALARM. Flex room. New In ground TRASH RECEPTACLE. Near REC CENTERS, restaurants, shopping. Near 101. EXCEPTIONAL QUALITY! Sun City offers many amenities & low taxes! 7 Rec Centers with swimming pools, lap pools, walking pools, Hot tubs and every activity, work shop, & craft you can think of! Bowling! Pickleball! Shuffle Board! Pool Tables! Darts! Tennis! Ground Bowling! Mini Golf! Lake Activities! 9 Public Golf Courses & Reduced prices with Rec Card. And much more! Close to shopping, restaurants & entertainment! Close to Spring Training Base Ball Fields. Close to Arrowhead Mall, Lake Pleasant and all of it's growing amenities & restaurants nearby! Close to Grand Ave & 101 access! The list goes on & on! Call your Realtor today for more info!!! AGE RESTRICTED RETIREMENT COMMUNITY. ONE PERSON MUST BE 55 YEARS OLD AND NO ONE UNDER 19 YEARS OLD. ANYONE UNDER 19 CAN VISIT - SCHOA RESTRICTIONS APPLY.

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3928 E Branham Lane Phoenix, AZ 85042

$459,000

3 Beds

2.5 Baths

1,708 SqFt

Status Active

MLS # 6675226

Property Type Single Family Residence

Price Type --

Well maintained home in a nice gated Blossom Hills subdivision. Main bedroom suite on ground floor, spacious loft and 2 bedroom and a bath on the second floor. Open great room with kitchen, living and dining space with a half bath and Harry Potter closet under the stair and a nice size laundry room. 2 car garage, shared driveway. Wood look tile on the main floor and newer carpet on stair and upstairs loft and bedrooms. Easy freeway access. Seller related to Listing Agent. There is a one time Benefit Working Capital Fee of 114.00

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