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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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

2342 E Delgado Street Phoenix, AZ 85022

$499,000

3 Beds

2 Baths

1,702 SqFt

Status Active

MLS # 6659389

Property Type Single Family Residence

Price Type --

A fantastic family home in the heart of Phoenix. This beautifully updated residence is adorned with charm and offers a perfect blend of comfort and style. This home boasts distinctive curb appeal, highlighted by two mature trees in the front yard and a vast backyard that opens up a world of possibilities. You have a lemon tree, grapefruit tree, and orange tree. Centrally located near the 51 and North Central, convenience is at your doorstep.

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12610 N 41st Drive Phoenix, AZ 85029

$499,000

3 Beds

2 Baths

1,468 SqFt

Status Active

MLS # 6678767

Property Type Single Family Residence

Price Type --

NO HOA!! MAGNIFICIENT GEM. This house is perfect. Fully replaced roof 2019. Newly installed tankless water heater in 2023 with owned soft water system in 2022. Brand new carpet in living room and master bedroom. Pool has a brand new variable speed pump in 2023. Owners spared no expense creating 2 RV gates with concrete slab, electric and dump. Built in garage cabinets for tons of storage with epoxy floors. Garage is plumbed for compressed air to outside lift area that has a 10,000 pound Benpak lift including epoxy coated concrete for easy clean up. Exterior custom built shed has electric, lighting, ceiling fan, epoxy floors, and is fully insulated with attic storage. Fresh paint inside and out including the shed. Networking throughout. This house won't last long. OWNER AGENT

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26033 W Sierra Pinta Drive Buckeye, AZ 85396

$499,000

3 Beds

2.5 Baths

2,669 SqFt

Status Active

MLS # 6665078

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the Festival Foothills, where luxury and comfort seamlessly blend in this former builder ''show home.'' This exquisite single-level residence boasts 3 bedrooms, 2.5 baths, an office, a family room, and a den, providing the perfect canvas for a harmonious and versatile living experience. As you approach this meticulously crafted home, you'll be captivated by its stunning curb appeal. Step through the front door into a world of refined living, where every detail has been carefully considered. This home is conveniently located near a school, making it ideal for families. Golf enthusiasts will appreciate the proximity to the nearby golf course, while parks and walking trails provide opportunities for leisurely strolls and outdoor activities.

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5450 E Mclellan Road Mesa, AZ 85205

$499,000

3 Beds

2 Baths

1,803 SqFt

Status Active

MLS # 6668321

Property Type Apartment

Price Type --

Welcome to ''The Sanctuary'' in peaceful setting of Alta Mesa Resort Village, one of a kind, private-gated community in North Mesa. Created as a Winter getaway for Owner/family. Seller has spent 5 years handpicking the finest furnishings & updates to his award winning & visionary taste. Every detail has been attended to, making this lovely home a perfect turnkey ''Sanctuary'' for those who are looking for more than just a ''place to eat/sleep'' Unique/Custom floorplan w/ more upgrades than any home in here maximizing space & efficiency. Completely NEW HVAC system! New Tankless water heater! Quartz counters w/ waterfall & Custom Glass bfast bar! Frosted glass doors, Picture Tv's everywhere! SuperSmart home w/ ALL AUTOMATED! 1 HUB/7dots to serve your every command. HOA=water/sewer/cable/wrk

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15252 N 100th Street Scottsdale, AZ 85260

$499,000

3 Beds

2 Baths

1,607 SqFt

Status Active

MLS # 6683686

Property Type Apartment

Price Type --

Welcome to this spacious and inviting 3-bedroom, 2-bathroom condo nestled in the heart of Scottsdale. Upon entry, you'll find a well-designed floor plan that seamlessly combines comfort and functionality. The living area boasts ample natural light and a cozy ambiance, perfect for relaxing or entertaining guests. The modern kitchen is a highlight, featuring sleek countertops, beautiful appliances, and plenty of cabinet space for storage. The adjacent dining area is ideal for family meals or intimate gatherings. The primary bedroom is a private retreat, complete with a walk-in closet and an en-suite bathroom featuring dual sinks and a luxurious shower. The two additional bedrooms are generously sized and offer flexibility for use as guest rooms, a home office, or a hobby sp hobby space. Step outside to one of two private balconys and enjoy a peaceful outdoor oasis, perfect for morning coffee or evening relaxation. Residents of this community enjoy access to fantastic amenities, including a refreshing pool, a tennis court, and beautifully landscaped grounds. Conveniently located, this condo is just minutes away from shopping centers, dining options, parks, and recreational activities, offering the best of Scottsdale living at your fingertips. Don't miss the opportunity to make this condo your new home. Schedule a showing today and experience its charm and comfort firsthand! All furniture currently in the condo is included in the sell!!

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5818 S 55th Glen Laveen, AZ 85339

$499,000

4 Beds

2 Baths

2,099 SqFt

Status Active

MLS # 6690340

Property Type Single Family Residence

Price Type --

This 4 bedroom, 2 bath, 3 car garage home with a split floor plan is on a 10,000+ square foot lot in a gated community! Home also features dual pane windows, 2 inch wood blinds, ceiling fans throughout, paneled doors, and upgraded carpet. Large backyard with a covered patio and space for a pool. Just a couple of minutes from the 202 loop, you have quick and easy access to major major venues, dining, and shopping in both the east and west valley!

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3620 E Sumner Place Rimrock, AZ 86335

$499,000

3 Beds

2 Baths

1,716 SqFt

Status Active

MLS # 6672634

Property Type Single Family Residence

Price Type --

This stunning brand new 3 bedroom/2 bath home is in the pristine gated community of Beaver Creek Preserve in Rimrock AZ. Beautifully done Open floor plan with granite/quartz countertops, kitchen island, wood cabinetry and lots of storage and tile flooring. Private back Patio. Huge RV Storage! No RV? Then sky's the limit of what you can do with that space! Storage for your motorcycles, ATV's, Golf Carts! Turn it into a sports Room w/pool table, Ping-Pong, Man Cave, or add a platform for more storage, build a loft, Car lift.. really anything! Great private space between neighbor's min 20ft easements. Clubhouse offers pool tennis, Lounge area, BBQ for all you Friends and Family! Great location just off the freeway, Peaceful and Quiet! 20 min to Cottonwood, 25 min to Sedona, 1 hr to Flagstaff Lots of hiking trails, fishing and just beautiful scenery! ** Price reflects a 30K incentive reduction by using the builders preferred lender! **Come check it out! Make us an offer today and we can make it work!

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5346 W Posse Drive Eloy, AZ 85131

$499,000

3 Beds

3 Baths

2,139 SqFt

Status Active

MLS # 6674842

Property Type Single Family Residence

Price Type --

FULLY FURNISHED! Beautiful home w/detached casita (bedroom, bath & closet) perfect for friends visiting or a hobby room. Entertainers backyard features a gas fireplace, remote sun shades on patio, beautiful water feature & built in BBQ. Low maintenance synthetic grass, extended paver patio, orange & lime trees! Paver courtyard leading to casita & main entry. 2.5 car garage has a 4 ft ext., epoxy, built in cabinets, sink & service door w/a security door. Den has built in shelving. Spacious laundry room w/lot of cabinets. Bay windows in the master & guest room. Great room has a gas fireplace & built-in shelving. Too many upgrades to list them all. This home comes fully furnished, everything stays & is move-in-ready!

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4112 N 6th Avenue Phoenix, AZ 85013

$499,000

3 Beds

2 Baths

1,215 SqFt

Status Active

MLS # 6679324

Property Type Single Family Residence

Price Type --

Just steps from Phoenix's Melrose District awaits your new home. This remodeled gem boasts 3 beds, 2 baths, and a 1 car garage with easy entry. The kitchen stuns with quartz countertops and new cabinets. Gas stove enthusiasts will love the eat-in kitchen. Enjoy vinyl wood flooring and elegantly redone bathrooms. Dual pane windows flood the space with light. Outside, a covered patio offers endless entertainment possibilities. With Melrose's amenities nearby, embrace a lifestyle of culture and charm.

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15 Maxfield Avenue Bisbee, AZ 85603

$499,000

2 Beds

2.5 Baths

2,636 SqFt

Status Active

MLS # 6680430

Property Type Single Family Residence

Price Type --

An exceptional 1915 structure positioned at the end of the brick road. Exterior walls are large Tufa blocks (a limestone material mined around Douglas, AZ); roof is corrugated metal; interior floors are pine and/or Douglas Fir and Oak. Windows are original, with wavy glass. Ceilings typically 10', except 12' at main bathroom; and 16' at kitchen. Upper level has generous space and light. Sitting rooms, Kitchen, Shower no Tub in Master bath, half bath in hallway, laundry and carport. Lower level was left in its original configuration and consists of a sitting room; bathroom; bedroom; and a partial undeveloped basement. All utilities - water, electrical, waste/drainage - were replaced. Exterior stairs connect upper and lower levels. A few mins walk to downtown Bisbee.

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11906 N 190th Drive Surprise, AZ 85388

$499,000

4 Beds

3 Baths

2,188 SqFt

Status Active

MLS # 6680329

Property Type Single Family Residence

Price Type --

This stunning 4 bedroom 3 bath Surprise home exudes near-new luxury! Recently repainted and carpeted inside, it boasts an expansive open Great Room perfect for gatherings alongside a beautifully upgraded kitchen. Your luxurious primary suite awaits, complete with a huge walk-in closet and shower. Enjoy premium upgrades like a 2nd breakfast patio, tankless water heater, and soft water loop for added comfort. Step outside to your backyard oasis and relish those breathtaking mountain views - the perfect backdrop for relaxing in your Arizona dream home!

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20825 W Hubbell Street Buckeye, AZ 85396

$499,000

5 Beds

3 Baths

2,327 SqFt

Status Active

MLS # 6681621

Property Type Single Family Residence

Price Type --

Better than new home in Verrado with 5bed/3 bath for under $500K. 12 X 24'' tile throughout most of the downstairs with a full bedroom and bath on the main level.Beautifully upgraded kitchen with quartz counters, herringbone tiled backsplash and stainless steel appliances w/gas range. Plantation shutters throughout the home. Large loft with four bedrooms and two baths upstairs. Enjoy all the amenities that the master planned community of Verrado has to offer with convenient access to restaurants, freeway, shopping/Costco and the new Verrado Marketplace coming next year!

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