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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11679 W Agave Court Surprise, AZ 85378

$449,000
4 Beds
2 Baths
1,816 SqFt
Status Active
MLS # 6666180
Property Type Single Family Residence
Price Type --
Welcome to this stunning home nestled in the highly sought-after Golf Course Community of Coyote Lakes. As you step inside, you are greeted with a grand entrance that leads you to the heart of the house - the spacious kitchen with a great open floor plan, perfect for family gatherings and entertaining guests. The kitchen boasts modern appliances, ample storage, and a large island that doubles as a breakfast bar. The luxurious primary bedroom is a true retreat, complete with a spa-like bathroom featuring a soaking tub, a separate shower, dual sinks, and a walk-in closet. The laundry room is conveniently located and comes with plenty of storage cabinets to keep everything organized and tidy. Step outside to your private oasis - a sparkling pool and covered patio area where you can relax and unwind after a long day. The patio area is perfect for outdoor dining, barbecues, or simply lounging in the sun. Experience delightful living at its finest in this beautiful Surprise home.

21006 N Aurora Drive Sun City West, AZ 85375

$449,000
3 Beds
2 Baths
2,356 SqFt
Status Active
MLS # 6666533
Property Type Single Family Residence
Price Type --
This home is a Jacaranda floor plan with 3 bedrooms, 2 baths, vaulted ceilings, and newer windows. An expansive living room, and a large family room with ample built-ins, including a convenient desk. The spacious master suite offers granite counters, double sinks, and a stunning tile shower. The guest bathroom was updated with the same elegant features. The country-style kitchen has a reverse osmosis system, quartz countertops, a breakfast bar, and an eat-in area with a bay window. The home has tile flooring throughout, with a decorative inlay at the entrance. The inviting patio offers both shade and sun with a covered portion and an open area and a partially fenced yard. The home has a 16-panel Solar system that is FULLY PAID, contributing to energy efficiency and cost savings.

4335 Cutter Lane Wickenburg, AZ 85390

$449,000
2 Beds
2 Baths
1,706 SqFt
Status Active
MLS # 6673966
Property Type Single Family Residence
Price Type --
Welcome to 4335 Cutter Lane! Nestled in the idyllic setting of Wickenburg Ranch, this charming home embodies comfort and convenience. Boasting 2 bedrooms and 2 bathrooms, it offers the perfect blend of space and intimacy. As a lock-and-leave property, it ensures effortless living for those seeking a low-maintenance lifestyle. The well-landscaped backyard provides a serene retreat, complemented by a covered back patio ideal for outdoor enjoyment. Inside, the warmth of wood-look tile flooring adds a touch of elegance and durability, while a cozy den offers a versatile space for relaxation or productivity. With its harmonious blend of functionality and tranquility, this home presents an inviting sanctuary in a picturesque desert community. Residents also have access to a plethora of amenities, including a beautiful golf course, fitness center, a resort swimming pool, and much more. Don't miss the opportunity to make this home your own. Experience the luxury and tranquility of Wickenburg Ranch.

2935 W Acoma Drive Phoenix, AZ 85053

$449,000
3 Beds
2 Baths
1,810 SqFt
Status Active
MLS # 6677782
Property Type Single Family Residence
Price Type --
Welcome to this TASTEFULLY UPGRADED home, freshly painted inside & out! The inviting interior features a formal living room, family room w/fireplace, dual pane windows, and wood laminate flooring. The fully equipped kitchen boasts Corian counters, a breakfast bar, & ample cabinets w/wine rack. Main bedroom offers two closets & an ensuite w/dual sinks. Notably, the garage has been turned into a 4th bedroom w/a freestanding fireplace. All closets were repainted as well. PLUS! All new dishwasher, refrigerator, & washing machine. This gem also has a water filter system, evaporating cooler, & a new water heater. Completely updated laundry room! Outback, you have a covered patio, lush lawn with fruit trees, storage shed, & a diving pool w/new filter. SOLAR PANELS are added perks! Visit now!

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