NAHB: Home Builder Confidence Holds Steady in May

The National Association of Home Builders reported that home builder confidence in the U.S. housing market conditions held steady for the fourth consecutive month in May. Builder confidence stayed at a reading of 58, which was the number expected by analysts and was also the reading for April. Analysts said that the consistency in readings signified expansion in housing markets. Any reading over 50 indicates that more builders than not are confident about market conditions.

Components of the NAHB Housing Market Index include readings on builder confidence in current market conditions which held steady at 63 and builder confidence in market conditions over the next six months, which gained three points to a reading of 54. Builder confidence in foot traffic for new home developments was unchanged at a reading of 44.

NAHB Chief Economist Robert Dietz said that the higher reading for future sales indicates growing builder confidence in housing market conditions. In recent months, housing markets have been fueled by low mortgage rates and high demand, but supplies of available homes are dwindling. Housing industry analysts have identified building new homes as a major solution for the shortage of homes for sale.

Analysts note that while new homes represent a small part of the residential real estate market, each new home constructed contributes an average of three jobs for a year and yields an average of $90,000 in tax revenue for each home built. Builders repeatedly cite a lack of workers and buildable lots as a concern for building more homes. An NAHB analysis of the Bureau of Labor Statistics’ report on Job Openings and Labor Turnover indicated that there were 210,000 unfilled construction jobs in March, which was the highest reading since May 2007.

Regional surveys of home builder sentiment were mixed. The reading for the Northeast fell by 3 points to 41 while readings for the Midwest and South rose by one point each with readings of 58 and 59 respectively. The reading for the West was unchanged at 67.

Low Mortgage Rates: Will the Fed Raise Rates in June?

In other housing related news, analysts’ predictions are mixed regarding whether or not the Federal Reserve will raise its target funds rate next month when the Federal Open Market Committee (FOMC) meets. Uncertainties over the United Kingdom’s upcoming vote about leaving the European Union and mixed economic data appear likely to nix a rate increase, but improving labor markets could be a plus for a fed rate increase. Raising the federal funds rate would cause mortgage rates to rise and is considered a further concern for the gap between growing wages and rapidly rising home prices.

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21301 W Roanoke Avenue Buckeye, AZ 85396

$499,306

3 Beds

2.5 Baths

1,920 SqFt

Status Active

MLS # 6692077

Property Type Single Family Residence

Price Type --

Welcome to your TO BE BUILT 3-bed, 2.5-bath mountain-view haven with a flex room. Nestled on The White Tank Mountains, enjoy privacy and views. North/South orientation. This energy-efficient home boasts SPRAY FOAM insulation, SOLAR READY, and an electric car charger drop. Gas appliances, granite countertops. Owner's suite features a walk-in super shower. 12' sliding glass wall seamlessly connects indoor and outdoor living. Ideal for entertainers or those seeking privacy. 10' ceilings and 8' doors throughout create modern luxury with sustainability commitment. HOA dues include community pool, jacuzzi, clubhouse, and gym! Pictures not of subject property.

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972 N Sherwood Way Queen Valley, AZ 85118

$499,300

3 Beds

2 Baths

1,614 SqFt

Status Active

MLS # 6532415

Property Type Single Family Residence

Price Type --

***REDUCED NOW AVAILABLE!!! RARE NEW CUSTOM HOME WITH SUNRISE & SUNSET VIEWS GOLF COMMUNITY HOME! NEWLY BUILT HOME WITH PREMIUM FINISHES! Minutes away from first fairway. Located at 972 N Sherwood Way, Queen Valley Arizona 85118 within freeway access to all sunny Phoenix metro valley areas, a get away to breathtaking views. All NEW premium construction, all white chef's kitchen! Look no further than this stunning all new 3-bedroom, 2-bath home with sweeping vista views! Nestled on a quiet street amidst rolling hills and stunning vistas from almost every window. This small quiet community offers residents the chance to live and play in one of the most picturesque settings imaginable. With quaint hiking trails and an affordable opt in or out of beautiful 18-hole golf course, A MUST SEE...

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5744 W Posse Drive Eloy, AZ 85131

$499,297

2 Beds

2 Baths

1,769 SqFt

Status Active

MLS # 6619943

Property Type Single Family Residence

Price Type --

*This Designer Home*, is ready for an immediate move in, is one of our most popular floor plans. You'll appreciate the well thought out finishing touches selected by our professional Design team. From the beautiful cabinetry to the decorative backsplash in the Kitchen and Baths, this home is sure to please. Robson Ranch was voted on of the top 50 best master planned communities in the country by Where to Retire magazine. . Robson Ranch is centrally located between Phoenix and Tucson and offers world-Class, resort-style amenities including: New Clubhouse w/Ballroom/Auditorium, Championship Golf, Heated Indoor and Outdoor Pools, 16 Pickleball Courts, Tennis, Fitness & Creative Arts Centers, Restaurant

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22764 N 184th Lane Surprise, AZ 85387

$499,124

4 Beds

3 Baths

2,644 SqFt

Status Active

MLS # 6646492

Property Type Single Family Residence

Price Type --

Beautiful New Home that backs up to the desert with no other homes right behind it. 3 CAR GARAGE. Large Open Floor Plan. 4 Bedrooms, 3 Full Baths. Study. Large Kitchen Island, Tile throughout, carpet in bedrooms only. Full Patio on back of home with Mountain Views. Hurry this home will go quickly, last of its floor plan!! High Performance Home with smart technology, makes it so you can truly live in your element!!!!

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28409 N 451st Avenue Wickenburg, AZ 85390

$499,000

3 Beds

2 Baths

1,680 SqFt

Status Active

MLS # 6684621

Property Type Manufactured Home

Price Type --

Amazing off the grid Santa Fe style house located on 10 acres!! This beautiful 2016 manufactured home has great living spaces with tons of natural light, neutral colors, modern appliances, walk-in pantry and spacious rooms. The solar is owned outright and has batteries and a generator. The home also has propane gas for heating and cooking. Sitting on a hill it offers unparalleled views!! Also comes with covered corrals, tack room and storage area and entire property is fenced. This home is also listed with 20 additional acres. See the semi-private remarks for details.

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655 S Del Rancho Circle Mesa, AZ 85208

$499,000

4 Beds

2.5 Baths

2,012 SqFt

Status Active

MLS # 6444567

Property Type Single Family Residence

Price Type --

$18,000 in Builder Incentives(must use Preferred Lender)for a Buyer to use on this NOW COMPLETED Inventory home! This home has 4 bedrooms PLUS a Loft! 42'' Shaker Style cabinet in Ash color and Granite Countertops! 12X24 tile on entire first floor, 8' tall doors on first level, Walk in Shower in Master Bath! Diamond Court, built by Newmark Homes, is an 18 home community nestled in a prime location in Mesa with lots of new retail/restaurants close by!

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18813 E Loma Vista Drive Rio Verde, AZ 85263

$499,000

4 Beds

2 Baths

1,933 SqFt

Status Active

MLS # 6632241

Property Type Single Family Residence

Price Type --

Your dream home is finally here! Discover this gorgeous turn-key property nestled in the highly desired 55+ Rio Verde Community. You are greeted by an enchanting interior featuring high ceilings, gleaming wood-look floor, modern recessed lighting, soothing palette, and a remarkable fireplace. The beautiful kitchen boasts wood cabinetry adorned with crown moulding, stainless steel appliances, and quartz counters. Primary bedroom offers plush carpet in all the right places, an immaculate ensuite with quartz dual sinks, and a walk-in closet. Completely updated. Enjoy spectacular mountain views from the charming backyard showcasing covered patios and an easy-care desert landscape! Walking distance to community ammenities. Don't miss it.

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3285 Rising Sun Ridge Wickenburg, AZ 85390

$499,000

2 Beds

2 Baths

1,612 SqFt

Status Active

MLS # 6587770

Property Type Single Family Residence

Price Type --

Discover the perfect blend of modern elegance and resort-style living in the Juniper model at Wickenburg Ranch. This two-bedroom, two-bathroom home comes complete with a spacious two-car garage, upgraded appliances, and a convenient walk-in pantry. The open floorplan creates an inviting ambiance, while the work station in the kitchen adds practicality to your daily routine. Experience the ease of keyless entry and enjoy the tranquility of the well-maintained landscape in your private backyard. Situated in the sought-after Wickenburg Ranch community, with its championship golf courses, fitness centers, and social events, this home offers the perfect balance of relaxation and excitement. Embrace the Arizona lifestyle at its finest in this captivating Juniper model.

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4274 Sawbuck Way Wickenburg, AZ 85390

$499,000

2 Beds

2 Baths

1,744 SqFt

Status Active

MLS # 6600394

Property Type Single Family Residence

Price Type --

Move in ready home in Wickenburg Ranch, 55+ neighborhood. Home sits on one of the largest lots in this community and the backyard opens up to a wonderful common area which is fenced for privacy. The backyard also has a custom water feature, artificial turf and a nice sized covered pergola. Beautiful landscaping front and back. Enjoy the 10 ft ceilings, custom fireplace, walk in pantry, granite countertops in kitchen, extra wide hallway, custom cabinets in garage., floored attic which give you a large storage area. Your HOA fee includes play on the nine hole golf course, heated pool and spa, pickleball courts, state of the art gym, dog park, miles of walking paths, catch and release fishing in the Lake Park!!! With so many activities offered, you will never be bored. Owner/agent.

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12340 W Rosewood Lane Peoria, AZ 85383

Open House

$499,000

2 Beds

2 Baths

1,635 SqFt

Status Active

MLS # 6617974

Property Type Single Family Residence

Price Type --

Lightly lived in, attractively upgraded Tuscan 'Flora' on corner lot with mature landscaping. TURNKEY OPPORTUNITY—furniture & furnishings available by Separate Bill of Sale. for $1. The many upgrades include LARGE FLOOR TILE throughout except carpet in bedrooms, HONEYCOMB top-down/bottom-up window coverings, wall of stunning built-in cabinetry in den, spacious garage w/4-ft. extension & attached cabinets, workstation, utility sink, & a HIGHLY UPGRADED KITCHEN. The beautiful eat-in kitchen features GRANITE SLAB countertops & full granite tile backsplash, rich honey-stained maple cabinetry w/ rollouts, GE Profile appliances PLUS Frigidaire refrigerator-NEW 2019, stainless industrial pull-down faucet-NEW 2023 & pendant light fixture-NEW 2021. . Exterior paint-NEW 2024. Enjoy meals looking looking out at the courtyard & outdoors through the SLIDING GLASS DOOR to the courtyard or go out for morning coffee. The primary suite has a SLIDING GLASS DOOR to the back patio. Both baths have attractive TILE countertops on tall cabinets and TILE surrounds in the tub/shower (guest) & shower (primary). Primary bath is also upgraded with heavy duty shower doors & elevated toilet. The great room is light & bright with a wall of windows with views of the backyard. The extended back patio with Kool decking & lush landscaping create a relaxing environment. The BUILT-IN GAS BBQ with GRANITE SLAB work area offers more opportunities to enjoy the outdoors. This home is located in award-winning gated, 55+ Trilogy at Vistancia with 5-star-resort style amenities at the 35,000 SF Kiva Club with indoor & outdoor pools, fitness center, day spa, cafe, billiards, meeting rooms, library, tennis courts, pickle ball, bocce ball, events & a plethora of activities to choose from. Outstanding Gary Panks-designed golf course is woven throughout the original part of the neighborhood. The Mita Club has additional outstanding community amenities. Easy access from Trilogy to the 303, shopping, restaurants, entertainment, Lake Pleasant & Paloma Park, Peoria's huge new community park loaded with amenities.

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263 E Alcatara Avenue Queen Creek, AZ 85140

$499,000

2 Beds

2 Baths

1,433 SqFt

Status Active

MLS # 6626180

Property Type Single Family Residence

Price Type --

The ''St. Tropez'' within Encanterra features an open floor plan that allows for comfortable living, yet perfectly sized so maintenance won't interfere with you enjoying the almost 70,000 sq ft of amenities on just under 800 beautiful acres. You'll have access to private golf, 4 pools (2 with bar and grill), tennis, pickle ball, bocci, gym and fitness classes, social clubs, and so so much more! This home is located in the Non-Age restricted portion of the community, close to all amenities. The home features a large Kitchen Island, inside laundry w/ storage, walk in shower, extended garage w/ epoxy finish and MORE! The mature landscaping and ample outdoor space are perfect for evening gatherings around the fire pit.

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18232 W Raymond Street Goodyear, AZ 85338

$499,000

4 Beds

2.5 Baths

2,396 SqFt

Status Active

MLS # 6626813

Property Type Single Family Residence

Price Type --

This Beautiful home on a premium lot with great views is ready for you! Home Boast Large Formal Dining and Living area at entry, Tastefully designed kitchen and primary living area. Upstairs has loft with primary bedroom and 3 additional bedrooms as well as laundry. Views out the windows for days. If you are looking for a large yard your are in luck, this lot is huge has plenty of room for a pool, outdoor kitchen and entertainment.

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