NAHB Housing Market Index Dips 2 Points

According to the National Association of Home Builders, overall builder confidence in housing markets dropped two points in October to an index reading of 63. September’s reading of 65 was the highest posted since the housing bubble peak. Component readings for October’s housing market index were mixed; the reading for builder confidence in market conditions over the next six months rose one point to 72. Builder confidence in current housing market conditions fell two points to 69. Builder outlook for buyer traffic in new home developments over the next six months fell by one point to an index reading of 46.

Approaching winter weather likely contributed to lower readings, but builder confidence remained strong. Any reading above 50 signifies that more builders are confident about specific index components than fewer. While home builders continue to be encouraged by low mortgage rates and a stronger job market, they also face obstacles including shortages of labor and buildable lots for development.

High Demand, Low Inventory of Homes Present Ongoing Challenges

High demand for homes coupled with depleted inventory of available homes is sidelining some buyers. As demand continues to drive home prices higher first-time and moderate income buyers are faced with affordability and mortgage qualification challenges. Limited inventory also makes it difficult for home buyers to find homes they want and contributes to competition for available homes. Buyers depending on mortgage financing typically compete with investors and cash buyers for homes in high demand areas.

Real estate pros and analysts monitor home builder sentiment as an indicator of future home supplies, but builder sentiment and housing starts don’t necessarily correspond. Given high home prices and strict mortgage qualification standards that sideline some buyers, it appears that home builders are taking a moderate stance toward ramping up construction.

In addition to boosting real estate markets, building homes provides jobs and supports local economies. Building homes creates demand for construction materials and related products and services.

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7807 E Main Street Mesa, AZ 85207

$24,000

1 Bed

1 Bath

624 SqFt

Status Active

MLS # 6646632

Property Type Manufactured Home

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Newly renovated move in ready home! This 55+ gated community of Agave Village offers over 20 group activities, club house, billiards room, community kitchen, heated pool/spa, pickle ball, shuffleboard, pet park and work out facility. In this beautifully updated home, you will see all new kitchen cabinets, granite countertops, appliances, flooring throughout, interior/exterior paint, bathroom plus walk-in ceramic tile shower, new dual pane windows, sliding glass door and HVAC. Don't miss out! Professional photos coming soon!

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345 S 58th Street Mesa, AZ 85206

$22,000

1 Bed

1 Bath

624 SqFt

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MLS # 6676524

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This beautiful home in the Broadway Estate 55+ Community features a carport, new deck, and a French door entry. The interior boasts easy-care wood laminate floors, an open floor plan with a good size family room, and a kitchen with plenty of drawers, storage, and a pantry. The bedroom is large with a nice size closet and built-in drawers, while the bathroom includes a walk-in shower with safety handles. The home also offers a big back patio with a stackable washer and dryer and storage. Additionally, the mobile home has been weatherized by the Department of Housing for energy efficiency, with all appliances and A/C designed to be energy efficient, which is a plus in Arizona. The Broadway Estate community, provides a quiet and welcoming environment for residents. The Broadway Estate community, with only 122 mobile homes, offers amenities such as billiards, a club house, gym, laundry, pickleball, pool/spa, fire pit, and more.

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11100 W Alsdorf Road Arizona City, AZ 85123

$19,999

2 Beds

1 Bath

840 SqFt

Status Active

MLS # 6630543

Property Type Manufactured Home

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Very well maintained 2 bed 1 bath unit in this 55+ Community. Land lease includes water, sewer and trash. Low maintenance yard. This unit has inside laundry. Community pool. Grilling area and coined laundry. Short driving distance to local shopping and medical facilities.

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9447 E Kedron Drive Hereford, AZ 85615

$19,900

2 Beds

1 Bath

1,462 SqFt

Status Active

MLS # 6480354

Property Type Manufactured Home

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Fix it up! Clean it up! Live it up! A severe fixer upper located in a quiet neighborhood. Owner will carry.

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659 N Utah Avenue Hayden, AZ 85135

$19,000

6 Beds

3 Baths

1,870 SqFt

Status Active

MLS # 6643836

Property Type Twin Home

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This property provides a great start to a multifamily building.

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265 S Smelter Road Hayden, AZ 85135

$19,000

1 Bed

1 Bath

840 SqFt

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MLS # 6647911

Property Type Single Family Residence

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This is a great place to create a ranch and have all the off road devices you possibly want. Come take a look at the possibilities today!

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5201 W Camelback Road Phoenix, AZ 85031

$18,000

2 Beds

1 Bath

600 SqFt

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MLS # 6610629

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***Highly Motivated Seller***55+Park***You will enjoy the spacious feeling in this 2 bedroom 1 bathroom home, a super cute home, and a bargain to boot! This adorable place could be either your primary home or your Arizona getaway! Boasts an beautiful Arizona room, which is where the second bedroom is. The interior of this darling place has been well taken care of, with upgrades galore: New wall unit style AC/Heating units remotely controlled as well in Front room, bedroom and 2nd bedroom. Freshly painted inside recently inside. The refrigerator and dryer stay. Low maintenance yard. Buyer to verify schools. New hot water heater as of Jan 2024! The water and sewer are also included in the lot rent! Lot rent is approximately $855.00, Live in a great 55+ park with many amenities to enjoy. Heated pools and spas, or enjoy your days playing pool or reading from the vast library. The walking and biking path winds through the community. This place is bargain paradise!

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16005 N 32nd Street Phoenix, AZ 85032

$18,000

1 Bed

1 Bath

800 SqFt

Status Active

MLS # 6635032

Property Type Manufactured Home

Price Type --

Seller Financing Available! This one bedroom, one bath is located within the 55+ age restricted community of Paradise Valley Ranch. Freshly painted, this home features central AC and heat, gas cooking and all appliances including W/D. It features two extended covered carports offering privacy and shade. Located at Paradise Valley Ranch 55+ Community operated by Treehouse Communities. Community amenities include, pool, spa, fitness, recreation center, outdoor dining and laundry. The lots are spacious and private.

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9421 E Apache Trail Mesa, AZ 85207

$17,500

1 Bed

1 Bath

672 SqFt

Status Active

MLS # 6662675

Property Type Manufactured Home

Price Type --

MOTIVATED SELLER!! BRING OFFERS!! Economical 1bed/1bath home located is 55+ Desert Valley Oasis. Spacious Living Room with Eat In Kitchen Counter space. Spacious Kitchen with plenty of cabinet space for dining. Gas Stove and Oven. Appliances Included. Many Updates Including NEW AC and ROOF 2020, New Flooring 2021, New Awning 2023. Large FENCED lot. Storage Shed includes Washer & Dryer. Easy Commute To Shopping, Entertainment, and Freeways. A MUST SEE!!

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