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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9437 E Spiral Avenue Mesa, AZ 85212

New

$459,990

3 Beds

2 Baths

1,377 SqFt

Status Active

MLS # 6694633

Property Type Single Family Residence

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This adorable cozy home offers 3 large bedrooms with our Roosevelet Premium Palette, including a stainless gas range, dishwasher, and microwave with granite kitchen counters Tile floors in all the main living areas with upgraded carpet in the bedrooms. Many upgrades in plumbing and electrical bring this homes design together for a lovely home to move into. This home also offers a large four panel slider to the back patio. Stop by today to see why Eastmark is the #1 place to call home.

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11230 W Marguerite Avenue Tolleson, AZ 85353

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$459,990

4 Beds

3 Baths

2,192 SqFt

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MLS # 6695667

Property Type Single Family Residence

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Below Market Financing Available!!!!!!!!!!! This single-story home features three secondary bedrooms off of the foyer, one with its own en-suite bathroom making it ideal for guests. The open layout encompasses the kitchen, dining and Great Room creating a spacious living area. Off the Great Room is the owner's suite which boasts a spa-inspired bathroom with a large walk-in closet. The covered courtyard and rear covered patio provide plenty of outdoor living opportunities. Photos are renderings of a model home, not the actual home.

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41090 W Haley Drive Maricopa, AZ 85138

$459,990

3 Beds

2 Baths

1,987 SqFt

Status Active

MLS # 6594869

Property Type Single Family Residence

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QUICK MOVE-IN!!! It's our beautiful Belice - 3 bedrooms + flex space, 2 baths and a 3 car tandem garage. 12'x8' sliding glass door off the extended covered patio. Large walk in shower at owner's bath with EMS Casino Ice gloss in a 4x16 tile at shower surrounds . Stainless steel gas appliance package with undermount single bowl sink. Winstead Maple ''Cafe'' stained cabinets through out the home with 42'' kitchen uppers and rollouts at pantry. Himalaya white granite countertops in kitchen and on the enhanced kitchen island. Kitchen backsplash has a 4x16 Ice Matte tile. Flooring includes EMS 12x24 Baccarat Astra tile in all the areas of the home except beds/closets. Dual sinks at bath 2. Two-tone interior paint ''Agreeable Gray'', soft water loop and so much more. Seller to write contract and to verify all information with onsite agents. Water Company is Santa Cruz Water Company and Sewer is Palo Verde Utilities Company.

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1263 E Palo Verde Drive Casa Grande, AZ 85122

$459,990

5 Beds

3 Baths

2,549 SqFt

Status Active

MLS # 6637959

Property Type Single Family Residence

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If you're looking for a ranch style, true 5 bedroom split floorplan, in Casa Grande, AZ then look no further! This home, built in 2018, consists of 5 bedrooms, 3 full bathrooms, a 2 car garage and sits on a corner lot 8,448 sqft in size. It has a very spacious backyard with lots of citrus trees and even a large covered patio for those fall, winter and spring nights you may want to enjoy the Arizona weather. This home has had only one owner and has been kept in meticulous condition. There is surround sound throughout and even a multi-camera owned security system and it's all located within the Cottonwood Ranch community of Casa Grande.

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