NAHB: Builder Sentiment Improves in August

According 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.

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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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