NAHB: Home Builder Confidence Slips in June

Whats Ahead For Mortgage Rates This Week June 1 2015Home builder confidence fell slightly in June to a reading of 59 according to the National Association of Home Builders Housing Market Index. Analysts had expected no change to June’s reading of 60. June components of the HMI were also lower.

Builder confidence in current market conditions dropped by one point to 63; builder confidence in market conditions over the next six months fell three points to a reading of 66. The reading for foot traffic in new single-family developments dropped one point to 55. Readings over 50 indicate that more builders than fewer are confident about housing market conditions.

Are Housing Markets Cooling Down?

A statement released by NAHB said that June’s readings were consistent with an ongoing gradual housing recovery. In related news, real estate analysts are seeing similarities in today’s level of speculation to the pre-recession housing bubble that was fueled by speculation. More “mom-and-pop” investors are entering the market instead of seasoned institutional investors, which suggests that institutional investor interest is slowing.

In June, 2.50 percent of homes were purchased by institutional investors as compared to a peak of 9.80 percent in February 2013. Red flags suggesting that housing markets are cooling down appear consistent with June’s NAHB Housing Market Index.

Too much speculation can create a housing bubble, which would burst when demand dries up due to overly inflated home prices and falling demand for homes. Slim supplies of available homes and rapidly rising home prices are obstacles for home buyers. Home builders continue to cite low supplies of suitable land and labor shortages as obstacles to home construction.

Short Supply of Homes, Affordability Issues Persist

In a report separate from the NAHB Housing Market Index, Fannie Mae economists said that they expect single-family housing starts to increase by 13 percent in 2016. Any increase in home building would help reduce the shortage of available homes. The willingness and ability of builders to produce more affordable homes is a key aspect of maintaining healthy housing markets. Strong competitions for homes and high home prices in major metro areas have made home ownership impossible for many would-be buyers. Short supplies of available homes are discouraging those who are prepared to buy but can’t find homes they want.

Unless low supplies of homes and affordability concerns are resolved, overall market slow-downs are likely to occur at some point. Indications that professional investors may be slowing their former pace of snapping up homes could suggest that hot housing markets are starting to cool off.

15860 E Rio Verde Drive Scottsdale, AZ 85262

$55,000,000
9 Beds
7 Baths
14,997 SqFt
Status Active
MLS # 6471198
Property Type Single Family - Detached
Price Type --
Located on approx. 237 acres on the edge of Scottsdale, this one-of-a-kind property perfectly captures the essence of the Southwest. Stunning 360-degree views combine with the peace and solitude of the Sonoran Desert to create a private oasis while all the best of Scottsdale's amenities are just minutes away. The 8,700 SF main residence is modeled after an Argentinian estancia and is grand, yet comfortable. Additional amenities include a large greenhouse and potting shed, tennis court, pool and shooting range. Additional buildings include a 1,900 SF guest house, a 1,500 SF caretakers' cottage and a 2,800 SF office/art museum. World-class equestrian facilities include a six-stall stable, 16-stall mare motel, numerous corrals, pastures and several outbuildings. Plentiful water with two

20568 N 112th Street Scottsdale, AZ 85255

$32,000,000
7 Beds
10 Baths
17,267 SqFt
Status Active
MLS # 6413286
Property Type Single Family - Detached
Price Type --
A Dream Team Comes Together Like a Symphony to Create a Custom Estate That is a Work of Art, introducing Ellington Heights in Silverleaf''There is no art when one does something without intention.'' -- Duke Ellington.Without a doubt the King of Jazz would consider Ellington Heights--a sleek and stylish gem--a superb work of art. Nestled in the sun-kissed upper canyon of Silverleaf, an exclusive enclave in Scottsdale, Arizona, the design for this magnificent estate collected inspiration from the social, artistic and cultural dynamism of the Roaring Twenties era. Further, the design journey for this modern desert prairie-style home, included finding perfect harmony with its Sonoran surroundings.(see 'more' now)

7265 N 40th Street Paradise Valley, AZ 85253

$30,600,000
5 Beds
6 Baths
18,000 SqFt
Status Active
MLS # 6495034
Property Type Single Family - Detached
Price Type --
Crown Canyon presents Amethyst, an award-winning Stratton Architects masterpiece to be built by BedBrock Developers. Amethyst is the crown jewel of Crown Canyon, located at the highest point of the exclusive community. This five-acre luxury homesite awaits an architectural masterpiece to capture the most prolific views in the community for your daily enjoyment. The experienced team at BedBrock Developers, with in-house architect Stratton Andrews, is prepared to fully design and build your custom dream home on this impressive mountain hillside. To inspire you further, Andrews designed this 18,000-square-foot showcase estate to demonstrate the endless possibilities within this homesite. We welcome you to experience this one-of-a-kind custom home opportunity.

21235 N 102nd Street Scottsdale, AZ 85255

$29,500,000
6 Beds
8 Baths
14,048 SqFt
Status Active
MLS # 6485821
Property Type Single Family - Detached
Price Type --
The Barn at Silverleaf - Discover the ultimate in luxury lifestyle. This awe-inspiring modern interpretation of this Prairie style estate is the result of a year- long design effort by renowned architect CP Drewett and a hand selected team of consultants. World class interior design is currently being developed by Claire Ownby, founder of Ownby Design. While the vision is a sophisticated custom estate of just over 14,000 square feet, the functionality is comfortable and inviting. The unique design truly elevates the tenets of desert modernism and resort style living. Perched at the summit of a long private driveway, every area of this three-acre estate has spectacular views and are destinations within themselves. The Barn is horizontal in nature with extremely deep overhangs and a

20958 N 112th Street Scottsdale, AZ 85255

$28,000,000
7 Beds
8 Baths
13,617 SqFt
Status Active
MLS # 6375239
Property Type Single Family - Detached
Price Type --
Welcome to ''The Aerie'', perched high in the McDowell Mountains in Scottdale's most exclusive community of Silverleaf sits this one of a kind masterpiece with unmatched views of the valley below. Thoughtfully designed by Erik Peterson of PHX Architecture and built with the ultimate in perfection by Paragon Custom Homes into a true work of art, this brand new desert contemporary home is an amazing estate. From the open great room which leads to the designer kitchen and hidden catering kitchen to the thoughtfully designed entertainment zone, and the palatial master wing this home has it all. Embodying a true indoor outdoor lifestyle, entertaining spaces flow to the beautiful outdoors all with amazing views of the valley below.

5247 N Invergordon Road Paradise Valley, AZ 85253

$27,999,999
7 Beds
13 Baths
13,364 SqFt
Status Active
MLS # 6447698
Property Type Single Family - Detached
Price Type --
Introducing ''The Royal Chateau'', an exquisitely remodeled estate (completed May 2022)! Boasting 7 bedrooms, 13 bathrooms with sweeping views of Camelback Mountain, this home is sure to please with only the highest level of finishes. The main residence offers nearly 10,000 sf of luxury interior living with 2 separate guest houses. This custom residence includes a custom 600 Bottle Wine Cellar, 7 Car Garages w/ AC, Chef's Kitchen w/ Dual Sinks, custom built-in Subzero Fridge & Freezer, and large walk-in pantry with appliances. Featuring a state-of-the-art home theater, home office with views of Camelback, parlor with wet bar & custom woodwork throughout the entire home. Guests may stay in either of the 2 guest casitas and enjoy the several outdoor entertaining areas throughout the property

5636 E Mockingbird Lane Paradise Valley, AZ 85253

$25,000,000
7 Beds
10 Baths
18,575 SqFt
Status Active
MLS # 6507679
Property Type Single Family - Detached
Price Type --
Dramatic, Private Gated Single Level Luxury Resort! 18,575 sq ft estate on 5 ACRES w/ exquisite finishes + GARAGES FOR 31 CARS or 21 CARS W/O LIFTS. A fabulous SHOW GARAGE w/ 5 vintage gas pumps, photos of 1932 airplanes on interior garage doors, red+silver checkered floors+red lacquered cabinets. The residence has 21 ft ceilings, 2 swimming pools w/ 75ft lap pool, 2 libraries w/ Pierre Langue mahogany millwork + leather floor, 14 seat mahogany theater, 2 bar parlors + wine rm, huge exercise rm, luxurious master suite w/ floors of 7 ft slabs of marble + 2 huge elegant closets w/2 bathrms + 1,850 sqft 2 bdrm guest house. A chef's white kitchen opens to a large family rm w/ white hickory floors. Private w/ fabulous mature landscape.The property has $4.5 million in upgrades completed in 2015.

11235 E Wingspan Way Scottsdale, AZ 85255

$24,220,000
6 Beds
8.5 Baths
11,556 SqFt
Status Active
MLS # 6362093
Property Type Single Family - Detached
Price Type --
An artful masterpiece, this stunning estate was recently completed in July of 2021 by Salcito Custom Homes. Grandly positioned on 4.67 acres on one of the best homesites in Silverleaf, this home sits prominently in the iconic ''saddle'' of the Upper Canyon Summit in Silverleaf. Exuding warmth and sophistication with a unique French Modern style and architecture thoughtfully designed by Dale Gardon, this regal home captures the spectacular views of the Silverleaf Golf Course and the Valley throughout the home. The garages are perfect for a car collector with capacity for 11 cars. The superb interiors, designed in collaboration with Rebecca Salcito feature distinctive elements such as a fireplace carved from marble to hand-blown glass chandeliers, custom artwork

6044 N 44th Place Paradise Valley, AZ 85253

$22,500,000
4 Beds
7 Baths
10,656 SqFt
Status Active
MLS # 6378747
Property Type Single Family - Detached
Price Type --
Welcome to this one of a kind single level HILLTOP estate with 360 degree views- As you enter the gated circular drive and approach the spectacular entry foyer you'll be amazed by the height of the ceilings and walls of glass overlooking city & mountain views, resort sized living room, generous use of stone, marble and slab granite throughout, beautiful warm and timeless finishes. formal dining room with city views , complete bar w ice maker/dishwasher, 10 ft burled redwood doors and cabinetry throughout, West Wing features -powder room, Luxurious primary suite with coffee bar, oversized baths, 2 large customized closets, 2 granite showers & fireplace ,incredible office w/ wood paneled ceilings, bookshelves and workroom, 1000 sq foot gym with large bath & closet-

11269 E Moonlight Canyon -- Scottsdale, AZ 85255

$21,500,000
7 Beds
9 Baths
11,530 SqFt
Status Active
MLS # 6384286
Property Type Single Family - Detached
Price Type --
Renowned architect Bing Hu is creating a masterpiece in the Upper Canyon of the prestigious and highly acclaimed Silverleaf community. This 11,530 SF estate is a modern adaptation of the Prairie style of architecture, perfectly situated sitting on the high foothills of the McDowell Mountains with panoramic city lights, mountain and valley views. The superb quality of the finishes and the amenities included are sure to please the most discerning, certainly everything you'd expect in a home of this stature: green building materials and technologies, state of the art automation throughout, Sonos Surround Sound entertainment theater, Gaggenau ''Art of the Kitchen'' custom creation and more. Added opportunity is the GOLF MEMBERSHIP AVAILABLE with this home. Creating a masterpiece

10719 E Rimrock Drive Scottsdale, AZ 85255

$21,200,000
6 Beds
8 Baths
13,114 SqFt
Status Active
MLS # 6455254
Property Type Single Family - Detached
Price Type --
Immediate occupancy opportunity to include a Silverleaf Golf Membership and Furnishings. Warm and welcoming, nestled on a flat pad, not on a steep-driveway or below street-grade. The motor court, detached guest home, front and rear yard, all flow without any elevation changes. Secondary rooms, second wet bar and additional flex rooms live above. Perched on McDowell Mountains, offering an exclusive 'front row seat elevation' to the spectacular sprawling and vibrant golf course, twinkling city lights, plus captivating near/far mountain views. Flawlessly crafted and meticulously maintained by valley's renowned luxury home builder, Desert Star Construction. This signature address encompasses over 9 acres; 13,111 square feet of living space to including 1,789 SF 2 bedroom guest home. SEE VIDEO

5724 E Mockingbird Lane Paradise Valley, AZ 85253

$19,999,888
7 Beds
9 Baths
14,801 SqFt
Status Active
MLS # 6408372
Property Type Single Family - Detached
Price Type --
Brand New 5 Acre Estate with Stunning Views under construction completed Q4 2023. This stately property offers a split, single level floor plan, lush & mature manicured grounds, impeccable finishes and design throughout in one of Paradise Valley's most expensive locations! Enjoy the world class amenities, indoor and outdoor lifestyle, pool, spa, ramada, tennis court and never before seen features in a home with the iconic view of Mummy Mountain as the backdrop. Located in the highly desirable 3 C's school district, also featuring an 11 car garage for auto collectors. This is Arizona's most prestigious presale opportunity and offers the buyer the ability to select their own finishes. Contact the listing agent directly for a private tour.