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.

Listing types.

For Sale

For Rent

Land

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Distressed

Open House

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Price MaxAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Location Search Nearby

Lot SizeAny1+ Acres2+ Acres3+ Acres4+ Acres5+ Acres6+ Acres7+ Acres8+ Acres9+ Acres10+ Acres20+ Acres30+ Acres40+ Acres50+ Acres

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Neighborhood

Address, MLS# or Keyword

View As: Thumbnails List

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

21743 N Daniel Drive Maricopa, AZ 85138

$460,000

3 Beds

2 Baths

2,073 SqFt

Status Active

MLS # 6688227

Property Type Single Family Residence

Price Type --

Experience modern luxury in this 2023-built gem located inRancho El Dorado, Maricopa City. Unlike typical spec homes, this residence was meticulously crafted from scratch, offering premium finishes and upgrades. With 3 beds, a den, 2 baths, and an oversized garage, it's perfect for both relaxation and entertaining. Enjoy natural light, front yard landscaping, and included appliances. Plus, access Rancho El Dorado's amenities. Don't miss out on this rare opportunity for upscale living at an unbeatable price.

View Property

4505 E Del Rio Street Gilbert, AZ 85295

$460,000

3 Beds

2 Baths

1,299 SqFt

Status Active

MLS # 6631099

Property Type Single Family Residence

Price Type --

A must see! This lovely home in a wonderful Gilbert neighborhood. The home is located near ample shopping and restaurants on a spacious corner lot. It boasts beautiful finishes, stainless steel appliances, granite countertops, high end bathroom fixtures, and newer flooring. The backyard is perfect for entertaining. It is spacious, private, and includes a newer 8 person hot tub with a warranty. The side yard contains an enclosed dog run with a custom built air conditioned dog house. Tesla charger is installed located in the garage. Air conditioner was replaced in 2020 and hot water heater replaced in 2021. Air conditioning and plumbing have been maintained and serviced every 6 months by Goettle and Pest Control serviced monthly by Simply Green. Don't miss this one!!

View Property

3409 S 90th Avenue Tolleson, AZ 85353

$460,000

3 Beds

2 Baths

2,169 SqFt

Status Active

MLS # 6676331

Property Type Single Family Residence

Price Type --

Welcome to this stunning move in ready home loaded with all the bells and whistles! Spacious 3 bedroom 2 bath + den with option of converting to 4th bedroom. Fresh interior paint, new Trane A/C unit, new pool with travertine decking and new PAID OFF solar panels. Surveillance system with built in cameras and monitor/hard drive. Open concept floor plan with oversized kitchen island, stainless steel appliances, granite counter tops and dark cherry maple cabinetry. Floor plan makes it easy to entertain guests with easy flow into the backyard, perfect to enjoy on a hot summer day!

View Property

11324 W Hazelwood Street Phoenix, AZ 85037

$460,000

4 Beds

2.5 Baths

2,221 SqFt

Status Active

MLS # 6687499

Property Type Single Family Residence

Price Type --

Welcome to this stunning home boasting a plethora of on-trend features, ideally situated on an oversized cul-de-sac lot. The eat-in kitchen is a chef's dream, featuring stainless steel appliances, maple cabinetry, a reverse osmosis system, large storage pantry, breakfast bar, and an upgraded ORB faucet. Additional highlights include leased solar panels, along with newer water softener and water heater for added efficiency. Ample storage is provided with stairwell storage and the 2-car garage shelving space. The great room offers a spacious and inviting atmosphere, complemented by 18-inch ceramic tile flooring and tons of natural light. Upstairs, a large bonus loft awaits with vaulted ceilings and wood-look laminate flooring, perfect for relaxing with family and friends. The upstairs bedrooms have lush new carpet throughout. The master suite boasts a double-door entry, walk-in closet, and a spacious full bathroom with dual sinks and a makeup vanity, catering to both luxury and convenience. Step outside to the expansive North-facing backyard, featuring an extended covered patio, green grass lawn, tall block privacy wall, and a charming paver walkway leading to the gated pool with a baja step and waterfall. Don't miss the opportunity to make this exceptional residence your own and experience luxury living at its finest.

View Property