NAHB: Builder Sentiment Improves in August

Buyer Beware: 4 Common Problems Home Sellers Try to HideAccording to the National Association of Home Builders, August home builder sentiment met analyst expectations and rose by two points to a reading of 60; July’s reading was revised downward to 58. Two out of three components used in calculating the Home Builder Index were higher. Builder sentiment concerning current housing conditions rose two points to 65. Builders were also more confident about housing market conditions within the next six months; August’s reading was one point higher at 56. Builders were less confident about buyer traffic in new housing developments. August’s reading slipped one point to 44.

Any reading above 50 indicates that a majority of builders surveyed were confident in market conditions; readings for buyer traffic have not reached 50 since 2005.

Building More Homes Seen as Solution to Persistent Home Shortage

Shortages of available homes have caused demand for homes to surge in recent months. As demand increases, home prices rise. This thwarts positive conditions including low mortgage rates and recent reports of rebounding job creation. If builder confidence rises, it follows that builders will expand construction, but builders also cited factors including regulatory obstacles, a lack of qualified labor and shortages of land available for development as ongoing concerns.

Regional Confidence Readings Mixed

Regional readings for builder confidence were mixed; builder confidence in the Northeast increased by two points to 41. In the South, builder confidence also rose two points to 63. Builder sentiment in the West was unchanged at 69 while builder sentiment in the Midwest fell two points to 55.

Although growing builder confidence considered positive in light of home shortages, analysts said that single-family housing starts remain well below historical levels.

In related news, NAHB reported that readings for the 55 plus housing market index increased by one point to 57 as compared to the first quarter reading and was unchanged as compared to the second quarter of 2015. As with the general HMI, any reading over 50 indicates that more builders than fewer are confident in market conditions for 55 plus housing markets.

Click Here to See What Your Home is Worth

6612 N 28th Drive Phoenix, AZ 85017

$449,500
4 Beds
2.5 Baths
2,139 SqFt
Status Active
MLS # 6664065
Property Type Single Family Residence
Price Type --
Beautiful 4Bed/2.5bath home situated on a premium lot. There are no neighbors on both sides of the home. The master bedroom is upstairs with full Bath/shower/double sinks/walk-in closet. This home offers built -in entertainment center, covered patio with a deck off master bedroom.

2634 N 62nd Street Mesa, AZ 85215

$449,500
3 Beds
2 Baths
1,702 SqFt
Status Active
MLS # 6667460
Property Type Single Family Residence
Price Type --
Awesome Painted Mountain Golf Course Neighborhood! Hurry, Won't Last! Well Maintained 3 bedroom Towhouse on one of the largest lots in the community! This RARE 3 bedroom / 2 bath townhome has hard flooring almost every room, updated Kitchen & bathrooms the quartz countertops, stainless steel appliances, wood blinds, lots of natural light, no home directly behind, beautifully manicured yards, short pony wall around the property The covered patio has been tiled. Multiple rooms have built in speakers including the patio. Neighborhood is quiet. Located near golf courses, restaruants, shopping and freeways. Home has a 2 car garage with extra storage. Any furniture your buyers may want is for sale.

12161 N 83rd Drive Peoria, AZ 85345

$449,500
3 Beds
2 Baths
1,650 SqFt
Status Active
MLS # 6674776
Property Type Single Family Residence
Price Type --
Discover the epitome of comfort with this Peoria gem! This home is a charming 3-bed, 2-bath house boasts a well-designed open floor plan, accentuated by vaulted ceilings that create a sense of spaciousness. The main living areas are adorned with beautiful tile flooring, offering a seamless flow from room to room. The heart of this home lies in its expansive kitchen, which overlooks the living area. Picture yourself preparing meals in this well-appointed space, and a layout that caters to both functionality and aesthetics. Laundry is inside the home and is equipped with a sink, washer, and dryer. Practicality meets style as you navigate your daily chores effortlessly in this space. Step outside into your large backyard filled with mature trees and bushes. Dont miss this opportunity.

5701 W Hazelwood Street Phoenix, AZ 85031

$449,500 - 5Br/3Ba -  for Sale in Maryvale Terrace 14a, Phoenix
New
$449,500
5 Beds
3 Baths
2,442 SqFt
Status Active
MLS # 6683590
Property Type Single Family Residence
Price Type --
Beautifully re-modeled 5 bedroom 3 bathroom multi-generational home with an additional mother-in-law suite/casita freshly painted with updated carpet & LVP in the common areas, lovely white cabinets with quartz countertops in the kitchen & brand new appliances. This home with an extra kitchenette & separate entrance can host a large/extended family, AirBnB guests/tenants! This corner lot home has plenty of parking spaces, featuring an RV gate & parking in the back. The bathrooms have been completely re-done with stylish vanities & updated light fixtures & brand new showers with tile surrounds. Easy to maintain gravel front & backyard will make upkeep a breeze. Close to the I-10, and 101, GCU and more than 45 restaurants. Make this large'n'cozy move-in ready home yours today!