Home Builder Index Dips in January

January’s National Association of Home Builders Housing Market Index dipped two points from December’s revised reading of 69 to 67;  the index reading forecast for January was also 69.Analysts said that January’s reading was the second highest (after December 2016) since the peak of the housing bubble in 2005. January’s dip in builder sentiment was attributed to easing of builder enthusiasm, which spiked right after the U.S. presidential election. To put January’s home builder confidence reading in context, NAHB says that any index reading over 50 indicates that more builders than fewer have confidence in housing market conditions.

NAHB Sub–Index Readings for January

Three sub-index readings are used in compiling the NAHB Housing Market Index reading. Builder confidence in current housing market conditions fell three points to 72; builder confidence in housing market conditions over the next six months fell two points to 76. Builder confidence in buyer traffic in new housing developments dropped one point to 51.

Builders surveyed continued to cite the cost of new lots for development and the lack of skilled labor as obstacles to higher builder confidence.

After releasing January’s index readings, the NAHB said that while January’s readings were lower than those for December, a majority of builders have expressed confidence that the new administration will reduce regulatory pressure on home builders. NAHB also cited home builder concerns over mortgage rates, which rose nearly a percentage point in November and December before falling. Despite ongoing concerns, builder sentiment has steadily improved over time. On average, builder confidence averaged a reading of 61 in 2016 against 2015’s average reading of 59 and the 2014 average reading of 52.

Builder Outlook Seen as Key to Easing Home Shortage

Real estate and mortgage pros have consistently said that building more homes is necessary to ease the ongoing shortage of available homes. NAHB’s Housing Market Index is closely followed as a benchmark of home builder confidence. Higher builder confidence in current and future housing market conditions is viewed as a potential indicator of home building activity, but housing starts have not been uniformly allied with builder confidence.

Shortages available homes creates high demand creates concerns for potential buyers seeking affordable homes. Rapidly rising home price, particularly in high demand metro areas, have sidelined buyers who cannot compete against buyers making cash offers on homes with rapidly escalating prices.   For more information give me a call – J.P. Cook – 602-320-4253.

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17903 W San Alejandro Drive Goodyear, AZ 85338

$465,000

3 Beds

2 Baths

1,735 SqFt

Status Active

MLS # 6671804

Property Type Single Family Residence

Price Type --

BRAND NEW ROOF. Estrella Mountain Ranch stunner. Enter into the open concept living area with vaulted ceilings and large windows providing lots of natural light and views of the pool. The kitchen is bright and equipped with stainless steel appliances, granite countertops, ample cabinet space and a breakfast bar for casual dining. The spacious primary bedroom features vaulted ceilings and has a full ensuite: double sinks, shower, walk-in closet and an exit to the backyard pool. 2 additional bedrooms. The Pebbletech pool has a variable speed pump. New roof underlayment and new water heater. This area is a little bit of heaven with mountains, hiking trails, lakes, golf courses, PICKLEBALL, tennis and beautiful clubhouses. The area has lots of amenities to keep you close to home.

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3935 E Rough Rider Road Phoenix, AZ 85050

$465,000

2 Beds

2 Baths

1,386 SqFt

Status Active

MLS # 6669384

Property Type Townhouse

Price Type --

Villages at Aviano is like living in a resort year round. Perfect lock & leave lifestyle. Extremely well cared for SINGLE LEVEL Amici model. No stairs, 2 bedroom/2 bathroom with 2car tandem garage. ORIGINAL owner who has occupied a fraction of the time as it has served as a second home. NEVER used as a rental! Finishes include new LV flooring (2022) and tile in all major spaces and walkways with carpet in the two bedrooms. Granite counters in the kitchen and primary bathroom, stainless appliances, solid wood doors, arched entryways, full laundry w/newer units (2022), newer HVAC (2022) new W/H (2024) split floor plan, and wired for surround sound. Minutes from the Desert Ridge Marketplace, Mayo Clinic, Wildfire Golf Club, Top Restaurants and High Street, and easy access to the 51 &101

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18798 N Piccolo Drive Maricopa, AZ 85138

$465,000

5 Beds

3 Baths

2,722 SqFt

Status Active

MLS # 6670388

Property Type Single Family Residence

Price Type --

PRICE IMPROVEMENT! STUNNING Single Level Built in 2021 w Over 2700 Sq Ft! Boasting 4 spacious beds with walkin closets + enclosed den, 3 FULL baths (second master with on suite!) & formal dining room! Gorgeous kitchen overlooks the great room & features staggered White cabinetry, granite countertops, subway tile backsplash & SS appliances w GAS range! UPGRADES include soaring 10+ ft ceilings, 5 in baseboards, wood plank tile, plush carpet, modern fixtures, designer paint, gas hookup to dryer, extended garage w epoxy flooring & more! Palatial master features dual sinks, oversized walk-in shower & soaking tub & huge walkin closet! Step through the oversized doors to your own BACKYARD OASIS with sparkling pool, extended paver & travertine deck, large pergola & shed with NO NEIGHBORS BEHIND!

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5350 E Deer Valley Drive Phoenix, AZ 85054

$465,000

2 Beds

2 Baths

1,246 SqFt

Status Active

MLS # 6675006

Property Type Apartment

Price Type --

Wow!! Best buy in Tuscana on the top floor with private and secure lobby entry. The building also has elevators so ADA and pet friendly. This upscale unit also includes 2 underground, gated, garage spaces. These top floor units rarely come on the market and when they do they sell quickly. This is the type of upscale luxury condo that is perfect for the lock and leave 2nd home for the winter. Your guests will love the great room living with large eat in kitchen and breakfast bar. Split floor plan for nice privacy and there's a very private rear patio looking out to the Marriott Resort with Mountains in the background. Perfect for watching the fireworks. This location is an absolute 10 across from High Street marketplace and Desert Ridge mall. Mayo hospital just across the 101 too, wow!!

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7083 E Waterfowl Way San Tan Valley, AZ 85143

$465,000

4 Beds

2.5 Baths

2,488 SqFt

Status Active

MLS # 6674094

Property Type Single Family Residence

Price Type --

Stunning 4 Bed/2.5 Bath with a den/flex room, RV gate & Recreational Parking behind the gate to include Motor Homes, Boats, & Campers upon approval on a corner lot. (See CC&R's in document section). Gorgeous kitchen with lots of cabinets, granite, pendants, stainless steel and a large walk-in pantry. Open floor plan with tile floors throughout the main living areas. Upgraded lighting. Beautiful primary bedroom with walk-in closet. Split floor plan. Ensuite bath has dual vanities, private toilet, soaking tub, and upgraded tile shower. Relax in this beautiful backyard with covered patio, lush green turf and no neighbor directly behind.

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1502 E Garfield Street Phoenix, AZ 85006

$465,000

3 Beds

2 Baths

1,032 SqFt

Status Active

MLS # 6685102

Property Type Single Family Residence

Price Type --

Beautifully updated 3 bed-2 bath home on spacious lot in Historic Garfield. Walk to vibrant downtown Phoenix restaurants, art, festivals, and more! Natural light floods all rooms creating bright + airy ambience. Home has an open floor plan with high ceilings, split bedrooms, indoor laundry, + all new luxury vinyl plank flooring. Kitchen has freshly painted cabinets, quartz counters, + ss appliances. You can live in an adorable historic home w/ all the modern conveniences. Low maintenance desert landscaping in front. Large backyard provides option for casita or office space for those who WFH. 2016 - roof replaced, HVAC replaced, new Pella windows, updated bathrooms & kitchen. 2024 - all flooring + baseboards replaced, all fresh interior paint, and more. This home is an absolute gem!

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2101 E Oak Street Phoenix, AZ 85006

$465,000

3 Beds

2 Baths

1,188 SqFt

Status Active

MLS # 6679967

Property Type Single Family Residence

Price Type --

Exquisitely remodeled from top to bottom. This modern home boasts 3BR, 2BA, and an array of upgrades. This home features a new kitchen with plenty of cabinet space, Quartz Countertops. Nicely done Bathrooms, some new plumbing and electrical, New Roof, New Windows, New AC, Fresh Paint inside and out, and more. Entertain effortlessly in the backyard oasis featuring a sparkling pool and RV gate for added convenience. Desirable location, close to everything. Immediate access to freeways, minutes from Sky Harbor Airport and Downtown Phoenix. No HOA. Don't miss this opportunity!

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1925 W Joan De Arc Avenue Phoenix, AZ 85029

$465,000

4 Beds

2 Baths

1,898 SqFt

Status Active

MLS # 6675275

Property Type Single Family Residence

Price Type --

We've heard you! Now you can get $5,000 toward closing costs or to buy dn your interest rate. The front courtyard has a ton of potential just waiting your creativity (see idea pics). Once inside, you'll enjoy a 4 bdrm, updated home with lot's of space and natural light shining through a south facing wall of newer double-pane windows and beautiful sliding glass door. Both baths were remodeled all the way down to the underground flex-pipe and sewer-line. Carpet is brand new and the interior tastefully painted. Other upgrades include 16-seer HAVC system, ductwork, gas-range with dual-ovens, newer dishwasher, Corian countertops, and beautiful brand new cabinet faces. Outside has Tex-Coat cool wall heat reflective coating, and 50yr-rated heat-reflective shingle roof. Even the attic has been upgraded with xtra thick insulation for more energy efficiency and built out for additional storage. Want an RV gate? How about TWO RV gates? And if all that's not enough, enjoy the mountain practically in your backyard while you sit under the extended covered patio with grill area and raised planter bed.

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129 S 82nd Way Mesa, AZ 85208

$465,000

4 Beds

2 Baths

1,994 SqFt

Status Active

MLS # 6678829

Property Type Single Family Residence

Price Type --

Welcome to this beautiful 2017 home featuring a wonderful floorplan with a split master bedroom and large kitchen with plenty of cabinets and walk in pantry. Exterior of home was recently triple coat painted and has a large RV gate, 30 amp RV plug, and 20x20 storage shed in backyard. House has water filtration system and softener and is solar financed with a $39,000 balance. You will love the vaulted ceilings in the family room and plenty of windows for lots of natural light coming in. Water heater is only 2 years old and the attic and walls are double insulated. Much pride of ownership in this fantastic home just waiting to become YOUR home next with no HOA.

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4202 W Mountain View Road Phoenix, AZ 85051

$465,000

3 Beds

2 Baths

2,456 SqFt

Status Active

MLS # 6681093

Property Type Single Family Residence

Price Type --

A RARITY!! This beautiful well-built block construction home sits on an oversized pie-shaped 14,500+ sf lot, nestled on an inner corner of a non-through road inside the quiet and friendly Newcastle Village community. Boasting a flexible, well laid-out floorplan provides functional, open, and light-filled great room style living, with not one but TWO flexible living areas that can be used as a den, office, craft space, kids play area, secondary eating nook, or family room. The carefully updated and renovated interior (2021) includes not just tasteful cosmetic upgrades t/o, but infrastructural updates galore, as well. Features include an all new modern kitchen with upscale Viking electric range (gas hook up is also available) and Bertazzoni fridge, upgraded lighting and plumbing fixtures t/o, gorgeous dining room fireplace with statement wall, newer LPV flooring t/o, high quality Pella windows and doors in the light-filled, spacious great room area, chic and charming hexagonal saltillo tile, a charming tiled, built-in plant bench in the great room, all newer interior paint, upgraded radiant barrier installed throughout the attic to reduce heat gain and reduce cooling costs, newer ABS sewer line, a meticulously serviced Trane HVAC unit, tons of functional storage, and a smattering of added updates and upgrades throughout. Exterior features include an RV gate, with pavered RV pad, 220V RV hook up, large Tuff Shed storage that conveys with sale, Rain Dial watering system, closed alleys with access only for residents (code supplied at closing), and mature and rare desert landscaping, including two large organ pipe cacti, and one saguaro, both considered incredibly valuable for their size and age. This is a VERY special property on a very unique and special lot. The owners have taken great care of it, and it shows even better in person! The feeling of the property cannot be fully conveyed or described in words. If you want to live in a safe and quiet area close to shopping, services, great schools, restaurants, and an easy 20-25 min commute to the central city, don't miss this one - it'll go fast!

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4854 W Turquoise Avenue Glendale, AZ 85302

$465,000

4 Beds

2 Baths

2,371 SqFt

Status Active

MLS # 6680575

Property Type Single Family Residence

Price Type --

Whatta beauty! New paint, new quartz counter tops, new flooring, new bathroom vanity quartz! Your new spacious 4 bedroom home has a pool situated perfectly in a low-maintenance backyard oasis!

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3134 E Mckellips Road Mesa, AZ 85213

$465,000

3 Beds

2.5 Baths

1,414 SqFt

Status Active

MLS # 6683963

Property Type Single Family Residence

Price Type --

Charming 3 bdrm, 2.5 bath 2 car garage home in sought after Homestead on an oversized lot with lg. private pool and nicely designed backyard! Ideal for entertaining or everyday living -- with living and dining rooms, vaulted ceilings, and a formal family room with wood burning fireplace. Open concept kitchen overlooks the family room and features granite countertops, smooth-top range, built-in microwave, and LG stainless steel refrigerator with water dispenser/ ice maker. The primary suite includes dual closets, a spacious layout, soaring high ceilings, and an ensuite bath. Additionally, the home features newer paint, newer carpet, laminate flooring, and a top of the line Trane HVAC unit,. Enjoy your backyard with one of the only private sparkling swimming pools in the community. Conveniently located with easy access to the Loop 202 (and Gilbert Rd.) and plenty of shopping, dining, & restaurants nearby. A must see!

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