NAHB: Home Builder Confidence Slips in June

Home 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.

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40396 W Wade Drive Maricopa, AZ 85138

$460,000

4 Beds

3 Baths

2,078 SqFt

Status Active

MLS # 6682397

Property Type Single Family Residence

Price Type --

Wow...A coveted lake lot with an almost new home. This home closed in September '23 for over $502K!!! Need more? The builder only builds spec homes now (buyers only get very few final finishing options), but this home was built from scratch and highly optioned! Incredible value here, plus it's like having a new home without the wait time or other headaches! This desirable Agate model features 4 bedrooms, 3 full baths, and an oversized garage. N/S exposure, front yard landscaping is done, and all appliances are included. Tankless water heater, radiant roof barrier, along with many other exciting new build features. Enjoy the wonderful amenities of Rancho El Dorado. Don't miss this rare chance to be on the lake, for a bargain.

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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!

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8655 W Alvarado Road Phoenix, AZ 85037

$460,000

4 Beds

2 Baths

1,819 SqFt

Status Active

MLS # 6651919

Property Type Single Family Residence

Price Type --

Beautiful Home in a great neighborhood with private pool for the hot summer! Featuring 4 bedrooms, 2 bathrooms, living room, family room, open floor plan with vaulted ceiling, tile and wood floors, 3 car garage, cover patio, ramada, kitchen with island, new paint, close to schools, park , shopping and 101 & I-10 Freeways.

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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.

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2402 E 5th Street Tempe, AZ 85288

$460,000

3 Beds

2.5 Baths

1,380 SqFt

Status Active

MLS # 6698156

Property Type Townhouse

Price Type --

Explore comfortable living in this beautifully-maintained condo, conveniently located in the heart of Tempe. This home offers 3 bedrooms plus a den and 2.5 bathrooms across two stories, enhanced with recent updates including a new AC system (2021) and Anderson windows (2021) for improved comfort and efficiency. The interior features a blend of wood and tile flooring throughout, creating a welcoming open floor plan. The kitchen is equipped with a functional island and modern stainless steel appliances, perfect for everyday cooking. A versatile den on the main floor provides a great space for a home office, workout room, or flex space. Upstairs, the bedrooms are airy with vaulted ceilings that add a sense of openness. The primary suite includes a large en-suite bathroom with dual sinks and walk-in closet. Just down the hall is the laundry, conveniently located upstairs. The location is ideal, just minutes from ASU, Old Town Scottsdale, various shopping centers, Cubs Training Center, Riverview Park, and numerous dining options. Easy access to Loop 101/202 makes commuting simple. This gated community features great amenities such as ramadas, multiple pools, and a spa. Additionally, this unit comes with a two-car garage with direct home access. Consider making THIS your new home for a balanced and convenient lifestyle in Tempe!

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2915 W Meadow Drive Phoenix, AZ 85053

$460,000

2 Beds

2 Baths

1,307 SqFt

Status Active

MLS # 6681118

Property Type Single Family Residence

Price Type --

Discover the ultimate haven for your entrepreneurial ambitions! This remarkable property presents a haven for business owners seeking ample space for trucks and equipment. A standout feature is the expansive 5-car garage accompanied by a colossal workshop, meticulously designed to accommodate your professional needs. Located proximate to the bustling arteries of I-17 and Bell Road, accessibility to the entirety of the valley is seamlessly facilitated, ensuring your business ventures thrive with unparalleled convenience. Step into the expansive garage, where the possibilities are endless. Whether you're a contractor, landscaper, or tradesperson, this space offers the ideal canvas for storing your fleet of vehicles and equipment securely. Imagine the ease of access as you navigate your trucks in and out, with ample room to maneuver and organize your tools for maximum efficiency. But the true crown jewel of this property lies within its vast workshop. Here, craftsmanship meets functionality in a space that is primed for productivity. With towering ceilings and an abundance of natural light, this workshop invites creativity and innovation to flourish. Whether you're tinkering with machinery, crafting custom pieces, or conducting repairs, this expansive area provides the perfect environment to bring your visions to life. Strategically positioned near the intersection of I-17 and Bell Road, this property offers unparalleled connectivity to key transportation routes. This strategic location not only streamlines your daily commute but also enhances the accessibility of your business to clients and suppliers across the valley. Say goodbye to lengthy travel times and hello to newfound efficiency as you navigate the thriving landscape of the local market. While the focus may be on the outbuildings, it's essential not to overlook the charm and comfort offered by the main residence. With its inviting ambiance and modern amenities, this home provides a sanctuary where you can recharge and rejuvenate after a day of hard work. From spacious living areas to a well-appointed kitchen, every detail has been thoughtfully crafted to ensure your utmost comfort and satisfaction. In conclusion, this property represents more than just a place to call home - it's a gateway to endless possibilities and boundless opportunities. With its unparalleled combination of practicality, convenience, and potential, it stands as a testament to the entrepreneurial spirit that thrives within us all. Don't miss your chance to make your mark in the heart of the valley.

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16520 W Flora Lane Surprise, AZ 85387

$460,000

2 Beds

2 Baths

1,930 SqFt

Status Active

MLS # 6677899

Property Type Single Family Residence

Price Type --

The Grand awaits! This Gorgeous Valencia II model has been meticulously cared for and shows true pride in ownership. This one-owner home is the definition of Turn-Key and shows beautifully, offering 2 bedrooms, 2 bathrooms, plus a Den/Office. Key features include a gated front courtyard with water feature, Brand New interior paint, tile all throughout, Solar Tubes, sliding cabinet shelves in the kitchen, Corian counters, kitchen island and breakfast bar, tile backsplash, hot water heater re-circulator for instant hot water, cabinets in Laundry and Garage, extended rear covered patio with added Pony wall and Fire pit, and so much more! This isn't just a home, it's a lifestyle of refined comfort. The Grand is one of the top Adult communities in the U.S. and features 4 18-Hole Championship Courses, Fitness Center, Day Spa, pickleball and tennis courts, multiple swimming pools, dog parks, a softball field and over 80 clubs and special interest groups, plus entertainment venues that feature local and international performers. Join The Grand.

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2220 N Magdelena Place Casa Grande, AZ 85122

$460,000

7 Beds

4 Baths

4,236 SqFt

Status Active

MLS # 6678575

Property Type Single Family Residence

Price Type --

Fabulous two-level residence located in Mission Valley! Perfectly flowing layout showcasing spacious living areas adorned with glossy wood-look floor, arched doorways, soothing palette, & soft carpet in all the right places. The remarkable chef's kitchen offers white shaker cabinets adorned with crown moulding, granite counters, stainless steel appliances, double wall oven, modern track lighting, & a convenient center island. You'll also find an impressive loft with endless possibilities! Double doors open to the main bedroom, comprised of a walk-in closet, a private bathroom with dual sinks, & access to the cozy balcony. Spend relaxing afternoons in the charming backyard, featuring a covered patio. 7 bedrooms, 4 full bathrooms (1 bedroom and full bath downstairs, bonus/gameroom, and loft

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20603 N Echo Mesa Drive Sun City West, AZ 85375

$460,000

2 Beds

2 Baths

2,103 SqFt

Status Active

MLS # 6680198

Property Type Single Family Residence

Price Type --

Popular San Carlos model with 2 large bedrooms, 2 bathrooms, vaulted ceilings and HUGE utility/laundry room-perfect for crafting or if you need extra space & already plumbed. Kitchen has tons of cabinets w pull-out drawers, granite countertops, island, newer appliances and opens up to the large Arizona room. Skylights & solar tubes offer bright, natural light. You will love the rear, large 20' X 24' enclosed, screened patio room that offers space for entertaining or enjoying the beautiful weather. Desirable North/South exposure, situated in a cul-de-sac, corner lot in Echo Mesa area-close to Sun City West amenities and shopping! No HOA fees and low tax area!

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8415 N 47th Drive Glendale, AZ 85302

$460,000

5 Beds

2 Baths

2,080 SqFt

Status Active

MLS # 6683949

Property Type Single Family Residence

Price Type --

Beautify and well-kept 5-bedroom 2-bathroom home with Split Plan, Porcelain tile floors throughout, spacious living room, Dining Area, Family Rooms plus hallways. Huge pebble diving pool recent replastered, Kitchen with plenty of natural light, Double Pantries. Backyard with a covered patio. Split bedroom plan offers privacy. Close to School and I-17 Freeway and NO HOA.

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630 Ringtail Road Wickenburg, AZ 85390

$460,000

4 Beds

2 Baths

1,805 SqFt

Status Active

MLS # 6686092

Property Type Single Family Residence

Price Type --

Welcome to your dream home nestled in the heart of Wickenburg, where modern elegance meets comfort. This stunning 4-bedroom residence boasts a perfect blend of contemporary design and timeless charm, offering an exceptional living experience. Step inside to a spacious living area that welcomes you with abundant natural light, creating an inviting ambiance for gatherings and relaxation alike. Enjoy the convenience of updated appliances in the sleek, gourmet kitchen, where culinary adventures await. Outside your oversized lot offers endless possibilities for outdoor entertainment, from al fresco dining to tranquil moments basking in the Arizona sun. Marvel at fantastic views of the mountains. Conveniently located in the heart of Wickenburg, this residence offers easy access to a wealth of amenities, including shopping, dining, arenas and entertainment options. Explore the vibrant local community and discover why Wickenburg is beloved for its small-town charm and rich western heritage. Seize the opportunity to make this exceptional property your own and experience the epitome of modern living in Wickenburg.

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6950 S Musgrove Road Skull Valley, AZ 86338

$460,000

2 Beds

1.5 Baths

1,260 SqFt

Status Active

MLS # 6690740

Property Type Single Family Residence

Price Type --

Views and Horse Property just 30 minutes from Downtown Prescott! This home offers 2 bedrooms, 1.5 bathrooms and an office (or potential bedroom). It sits on 4 (splitable) acres and has some absolutely beautiful views. Not only can you enjoy your morning coffee and the sunrise from the front patio you can also embrace the beautiful sunsets Skull Valley has to offer off the back patio as well! This property backs to BLM land which is a perfect place to take your horses for an evening ride at the end of a long day or fire up your outdoor toys and go exploring. The living room has a beautiful custom wood burning fireplace that will heat the home and the kitchen has new appliances and walk-in pantry! The potential this property has to offer is endless and just awaits your personal touch.

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