Case-Shiller: Home Price Growth Continues

Home increased in October according to Case-Shiller’s 20City Home Price Index. Home prices rose from September’s annualized reading of 5.40 percent to 5.60 percent. Factors contributing to rising home prices include stronger economic conditions and outlook along with short inventories of available homes coupled with high demand. On average, October home prices rose 5.10 percent on seasonally adjusted annual basis, which was unchanged from September’s reading.

West Continues to Lead Home Price Growth

Top home price growth rates were in Seattle, Washington at 10.70 percent, Portland, Oregon at 10.30 percent and Denver, Colorado with a seasonally-adjusted annual price increase of 8.30 percent. New York, New York had the lowest home price growth in October with a reading of 1.70 percent.

In a separate report, December consumer confidence exceeded expectations with an index reading of 113.70 as compared to an expected reading of 110.00 and November’s reading of 109.40. This was the highest reading for consumer confidence since 2001. Analysts said that the strong reading for consumer confidence was a sign that consumers will increase their spending in 2017, but what will happen with mortgage rates is a big question.

Rising Mortgage Rates May Slow Home Prices, High Demand for Homes

With the Federal Reserve’s decision to raise its target federal funds range in December comes a question of how rising mortgage rates will affect housing markets. Rising fed rates typically lead to increases in consumer lending rates including rates for home loans and refinancing. Combined effects of rising home prices and mortgage rates create challenges for first-time and moderate income home buyers. While higher mortgage rates have not impacted buyer demand so far, rising mortgage rates could sideline some buyers.

A recent compilation of the most expensive places to live in America illustrates the imbalance of home prices as compared to consumer incomes. Brooklyn, NY topped this list with a reading of 127.70 percent of average household income earned in Brooklyn to buy an average priced home in Brooklyn. Analysts reporting this data noted that many Brooklyn homeowners work in Manhattan and earn more than those who work in Brooklyn. Disparities in average home prices and home buyer incomes could “trickle down” to less expensive areas if mortgage rates and home prices continue to rise.

Meanwhile, builder confidence is strong and is expected to lead to higher levels of home construction in 2017.

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4102 E Scorpio Place Chandler, AZ 85249

$2,000,000 - 7Br/6Ba -  for Sale in Falcon Estates, Chandler
Open House
$2,000,000
7 Beds
5.5 Baths
6,751 SqFt
Status Active
MLS # 6772164
Property Type Single Family Residence
Price Type --
You won't believe how low the utilities are on this meticulous 7000 sf custom home! Averaging just $200/mo year round, you won't find another house more energy efficient. Welcome to the gated community of Falcon Estates in Chandler, AZ. This 7 bedroom, 5.5 bathroom home with detached casita sits on a basement and is full of luxury upgrades, top of the line finishes and superior construction. Enter through the custom iron door into the grand entry with beautiful tempered glass windows, tons of natural light, 14 foot ceilings, 24'' travertine and open concept floorplan. The chef's kitchen is complete with an oversized island, eat in bar, Sub Zero separate refrigerator and freezer, 48'' dual gas stove , beverage station, trash compactor, warming drawer, wine cooler, butler's/prep pantry and walk in pantry. The eat in kitchen nook is completely surrounded by windows that overlook the peaceful backyard. The master retreat features a beautiful fireplace, separate sitting area full of windows, beautiful natural bamboo flooring, huge ensuite with 2 walk in closets, jet spa, and snail shower as well as direct access to the backyard patio. First floor has 3 additional bedrooms (all with beautiful bamboo flooring) 2 featuring a private full bathroom and walk in closet and the third is currently an office with dual closets. The gorgeous spiral staircase takes you downstairs to the basement that is perfect for more entraining. With a large open family room, expansive wet bar with barstool seating equipped with mini fridge, dishwasher and trash compactor, 2 more bedrooms, jack and jill bathroom and a separate powder bath, you have everything you need in this bright airy space. The detach casita is perfect for guests with a private entrance, large bedroom and full bathroom. The low maintenance serene backyard is full of mature fruit trees, multiple covered patios, seating/gathering areas, water fountain, extended pavers, beautiful trellises, outdoor fireplace and many variations of plants. A gardener's dream. Plenty of room for a pool, virtual design available. Centrally located to the 202, SanTan Mall, dining, entertainment, hospitals, top notch schools and community parks, this home is a must see! Welcome home!

13459 E Wethersfield Road Scottsdale, AZ 85259

$2,000,000 - 4Br/5Ba -  for Sale in Scottsdale Mountain, Scottsdale
Open House
$2,000,000
4 Beds
4.5 Baths
4,701 SqFt
Status Active
MLS # 6775588
Property Type Single Family Residence
Price Type --
Resort living inside & out of this updated stunner with the views you have been searching for! Located in 24/7 Guard Gated Scottsdale Mountain, this spacious home combines indoor and outdoor living with surrounded glass doors and full length windows all around. Open floorplan, 4 bedrooms & 4.5 baths plus a separate Home Office and Bonus Room. Chef's style kitchen features updated cabinets, granite counters, SS appliances, brand new double oven, and walk-in pantry. Entertain and admire PANORAMIC VIEWS from your Outdoor Oasis! Enjoy Kiva Fireplace, putting green fire pit, built-in BBQ, newly redone pebbletec pool, 3 Separate Sitting view areas and the natural beauty of desert open space and privacy. No imposing houses! Many updates in 2024 (click more!) including interior and exterior paint, pool, roof, floors, water heaters bathrooms and RO system. Check out the feature list in the documents tab and schedule a showing today!

13017 N 61st Place Scottsdale, AZ 85254

$1,999,999
6 Beds
5 Baths
4,682 SqFt
Status Active
MLS # 6743125
Property Type Single Family Residence
Price Type --
Priced below its 2024 appraised value of $2.3M, this Scottsdale gem is a must-see for those seeking a blend of functionality, style, and opportunity. Ideal for multigenerational living or savvy investors, this property offers a unique array of separate spaces perfect for family, friends, or even rental potential. Tucked away in a serene cul-de-sac, this home seamlessly merges indoor and outdoor living. The main house, with its 3 bedrooms and 2 bathrooms spread across 2,328 square feet, features a stunning kitchen with a gas stove and distinctive cabinetry, offering ample storage and a touch of elegance. Attached to the main house is a versatile 604-square-foot studio. Plus, you'll find a charming 1-bedroom, 1-bathroom, 849-square-foot casita separate from the main house. This property also features a generous 1,750-square-foot loft-style guest quarters, complete with a full kitchen, bathroom, and laundry facilities, providing versatile living options. Additionally, a 368-square-foot workshop with a car lift and a 288-square-foot utility room offer ample storage and workspace for all your needs. Outdoor living is exceptional here, with a pebble-tech pool, a 416-square-foot gazebo, and a built-in outdoor fireplace, making it ideal for entertaining and relaxing with family and friends. The expansive 35,000-square-foot lotone of the largest in the neighborhoodboasts lush desert landscaping and abundant shade trees. Situated in a prime location, you're just a short walk from local parks and schools, and a quick drive from the vibrant shopping and dining experiences at Kierland, Scottsdale Quarter, Topgolf, and Spring Training venues.

3105 E Fruitvale Court Gilbert, AZ 85297

$1,999,999
5 Beds
4.5 Baths
5,626 SqFt
Status Active
MLS # 6776940
Property Type Single Family Residence
Price Type --
Welcome to Weston Ranch, an Exclusive Gated Community in Gilbert. This Stunning Property Sits on a Private Cul-De--Sac lot, Gated Courtyard Entry. Spacious 5 bd/4.5 ba Layout with a Split Floor Plan, a Versatile Bonus Room, & Separate Casita Featuring its Own Living Area, Kitchen, & Full Bath, Perfect for Guests or Multigenerational Living. An Open Kitchen, with a Large Island, Granite Counters, Double Ovens, & Gas Cooktop. Gas Fireplace in the Living Room,, Oversized Owner's Suite, Complete with a Sitting Area, Patio Exit. Step outside to your resort-style backyard: Pavered Walkways Lead you to a Pebble-Tec Pool with Waterfall and Jacuzzi, a Built-in BBQ, Outdoor Kitchen, Gas Firepit & Sport Court. RV Gate, 4 Car Garage w/ Built-In Cabinets, EV Charging, Owned Solar & New Roof 2024.

6620 E Flat Iron Loop Gold Canyon, AZ 85118

$1,999,999
3 Beds
2.5 Baths
3,200 SqFt
Status Active
MLS # 6581879
Property Type Single Family Residence
Price Type --
Indulge in the epitome of luxury this Fall with your own private sanctuary nestled against the awe-inspiring Superstition Mountains. Awaken each day to uninterrupted, breathtaking vistas, and immerse yourself in a custom-crafted homesite designed to exceed your highest expectations. This isn't merely about constructing a dream home—it's an invitation to embrace a lifestyle defined by opulence, exclusivity, and peace. Meander through the prestigious, guard-gated community and let the serene ambiance envelop you. With homes reaching up to $2.5M, you'll enjoy an ideal blend of seclusion and accessibility. Yet, the true allure lies within the community itself. As a distinguished resident, you gain membership to the elite Superstition Mountain Club, featuring two private golf courses As a distinguished resident, you gain membership to the elite Superstition Mountain Club, featuring two private golf courses masterfully designed by Nicklaus. For those seeking relaxation, an outdoor pool and jacuzzi, and a state-of-the-art gym offering exercise classes, are at your service. Engage with your neighbors during the community's year-round events or enjoy a quiet evening at the exclusive clubhouse restaurant and cocktail lounge, indulging in exquisite cuisine and raising a toast to another impeccable day in paradise. Secure your own piece of heaven at the base of the majestic Superstition Mountains today and step into a world where every day is a masterpiece.

11334 E Troon Vista Drive Scottsdale, AZ 85255

$1,999,999
3 Beds
3.5 Baths
4,097 SqFt
Status Active
MLS # 6682066
Property Type Single Family Residence
Price Type --
Quintessential Arizona Living on an elevated mountainside lot nestled within the Sonoran Desert and surrounded by captivating panoramic Mountain Vistas. Located within the prestigious gated community of Troon Ridge Estates, this estate is situated on a 2-acre double lot to maintain privacy and jaw dropping VIEWS! The Santa Fe Style Estate features natural elements of boulder outcroppings, majestic Saguaros and a tranquil water feature in the front courtyard setting the tone for the serene ambiance of the home. The open floor plan expands 4100 sf of living space with large picture windows creating a canvas of outdoor desert landscape being an extension of the indoor atmosphere and design. A living piece of art, this home features exquisite one-of-a-kind hand-carved woodwork that........ embodies unparalleled craftsmanship and artistic flair. This home is a sanctuary of sophistication and authentic Southwestern design. The Terracotta Tile floors expand throughout the living space creating an authentic rustic appeal. The kitchen highlights the hand-carved wooden cabinets, a mosaic tile backsplash, double ovens, and an inviting eat-in area overlooking the great room living space. The living area is designed to maximize breathtaking views, with large windows framing Troon Mountain, Pinnacle Peak, and the McDowell Mountains. A grand beehive fireplace anchors the room adding warmth and charm, while a wet bar adorned with copper detailing provides an ideal spot for entertainment. This meticulously designed home features three-bedrooms all with ensuites, offering comfort and privacy, plus a generously sized office. The primary suite is a haven for relaxation with inviting fireplace, wrap-around private balcony, and spa-like bath. A backyard oasis providing awe-inspiring views, infinity-edge pool, expansive covered patios, an additional fireplace, and plenty of seating areas for relaxing or hosting guests. Enjoy proximity to Troon Country Club, renowned hiking trails such as Tom's Thumb, and the unmatched beauty of the desert! Plus, an array of nearby world-class golf courses, West World, shopping and dining destinations. *Included in the sale is Parcel #217-02-851 to protect your serene views and privacy*

30989 N 77th Way Scottsdale, AZ 85266

$1,999,999
3 Beds
3.5 Baths
4,143 SqFt
Status Active
MLS # 6713596
Property Type Single Family Residence
Price Type --
This stunning home spans over 4100 sq ft, offering ample space for luxury high desert living. With 3 bedrooms +den and 3.5 baths, it provides the perfect retreat for a family or individuals seeking a spacious living environment. Recently remodeled, this home features high end 'wood like' tile flooring throughout, giving it a modern and elegant aesthetic. The kitchen is adorned with beautiful quartz countertops and equipped with Wolf stainless steel appliances and a Sub-zero refrigerator. The primary bedroom is oversized, offering enough space for a seating area and more. The bathroom has been remodeled, offering a luxurious and serene space for relaxation. There is a large walk-in closet off of the bathroom, with custom built-ins; in addition, there are 2 other closets in the main bedroom The home includes a 3-car garage equipped with a mini split AC. Additionally, the home has a beautiful pool that was just updated with new tile and pebble tech, the pool decking was all re-coated as well. In addition to there is also a hot tub, gas firepit (with seating area), and built in BBQ, this backyard is a beautiful oasis! The home also benefits from a newer roof and AC unit, ensuring comfort and peace of mind. Situated on a corner lot, this home offers picturesque mountain views, creating a serene and tranquil atmosphere. With all of its impressive features and recent upgrades, this home is a must see!!

3804 E Camelback Road Phoenix, AZ 85018

$1,999,999
4 Beds
4 Baths
4,764 SqFt
Status Active
MLS # 6764227
Property Type Single Family Residence
Price Type --
LUX IN THE CITY! The ideal lock-and-leave home with short term rentals allowed. This beautiful home offers tranquility in the heart of the city, tucked away off Camelback, on a private street. Open and bright with soaring ceilings and spacious rooms, the home exudes elegance. The chef's kitchen is outfitted with Bosch and KitchenAid appliances, dual islands, and custom cabinetry (easily adaptable to white). Massive laundry room with farm sink, lots of cabinets, and plenty of counter space. Enjoy outdoor living with a large patio and two balconies—one with morning views of Camelback, the other with stunning Piestewa Peak sunsets. The primary suite offers dual closets, separate his-and-her toilets, and a spa-like bath with a

10088 E Duane Lane Scottsdale, AZ 85262

$1,999,900
3 Beds
5 Baths
4,395 SqFt
Status Active
MLS # 6755431
Property Type Single Family Residence
Price Type --
Custom Built 1+ACRE Estate in North Scottsdale's Exclusive Troon North Gated Talus Golf Community situated on Cul-de-Sac corner lot adjacent to miles of desert preserve providing complete PRIVACY & Endless Desert Mountain Views! This Open Great Room Split Floorplan has 3 EnSuites, +Den/Office +Media/FlexRoom, 3/full & 2/half Baths, 3-Car Garage, Vaulted Ceilings, Gourmet Kitchen, GE Profile SS Appliances, Bay Window Dining, Gas Fireplaces, Wet Bar & Lots of Oversized Windows capturing all the Views. The primary EnSuite has Private Exit to Backyard, Walk-in Shower, Jacuzzi Tub, Walk-in Closet & MORE VIEWS, Resort Style Backyard with Pebbletec Pool, Water Feature, 2-Way Fireplace & SO MUCH MORE - The Community features Trails, Pickleball, Tennis, Shopping, Dining, Parks & Golfing, Must See!

95 Meander Way Sedona, AZ 86336

$1,999,888
4 Beds
4 Baths
3,981 SqFt
Status Active
MLS # 6767200
Property Type Single Family Residence
Price Type --
Luxury Retreat with Endless Potential Welcome to your exclusive Sedona getaway, where luxury meets opportunity! This fully remodeled, fully furnished, and ACTIVE short-term rental (STR) is not just a property-it's a 2nd home that can STR when you are not enjoying the home. Situated atop a hill in West Sedona, this 4-bedroom gem offers jaw-dropping views of Thunder Mtn and Chimney Rock. Nearly half an acre with pitch & Putt Golf, Hot Tub, front and back yard fire tables for stargazing, Oversized 2 car garage AND separate Covered RV Parking ideal for Sprinter Vans or RVs. Unmatched Features & Amenities Step into a world of sophistication and comfort with two spacious living rooms, a private yoga room, and versatile spaces perfect for hosting guests. NO HOA adds to the allure, giving you the freedom to tailor this property to your vision, whether as a luxurious 2nd or 3rd home retreat or an investor's dream. Natural Beauty Meets Modern Design: Outside, a huge deck and multiple open areas front and back to soak in Majestic Views of Thunder Mountain and Chimney Rock. Inside, the open-concept living area is a showcase of modern design, featuring an exposed beam ceiling, wood vinyl flooring, and designer lighting that creates an ambiance of luxury and warmth. Culinary Delights & Relaxation: The chef's kitchen is a masterpiece, equipped with top-of-the-line Bosch Appliances, quartz countertops, and a 6-burner gas range that will inspire culinary creativity. The primary bedroom is a sanctuary, complete with a private balcony for savoring Sedona's famed sunsets and an en-suite bath that rivals a spa retreat. Entertainment & Outdoor Living: The lower level is dedicated to entertainment and relaxation, offering two additional bedrooms, a versatile Media room with direct backyard access, a yoga/room, and bonus TV sitting room with two twin pull outs. Outside, a cozy patio beckons with HOT TUB, providing a front-row seat to Sedona's natural wonders and easy access to hiking trails, gourmet dining, and local attractions. Step out to the pitch and putt golf course or take in some corn hole. Covered RV Space could be a great tiki bar or used for Sprinter/RV guests. Investment Excellence: With its prime location, luxurious amenities, and exceptional income potential, this Sedona retreat is not just a propertyit's a smart investment that promises both financial returns and a lifestyle of unparalleled luxury. Add additional income by renting out the separate RV Garage. Seize this opportunity to own a piece of Sedona's charm and prosperity! * PRICE INCLUDES: all furnishings, dishes, linens, art, electronics, side by side washer and dryer, two additional refrigerators in garage

5426 E Palo Brea Lane Cave Creek, AZ 85331

$1,999,888
5 Beds
3.5 Baths
4,761 SqFt
Status Active
MLS # 6753335
Property Type Single Family Residence
Price Type --
Wow! Located on a large 13,000+ sq. ft. lot in Cave Creek's Montevista subdivision, this fully renovated Toll Brothers home has it all. From the BEAUTIFULLY landscaped grounds to the stairwell's STUNNING cascading chandelier, this modern 4,761 sq. ft. property is perfect for those who like to entertain! In addition to 5 bedrooms, 3.5 baths, & a well-appointed kitchen (featuring upgraded Jenn-Air appliances), the floorplan has an indoor/outdoor vibe. The living room enjoys a modern fireplace and expansive windows. Outside? There is a RESORT BACKYARD complete with multiple shaded structures, an outdoor kitchen, firepit, & a pool/spa! And best of all? This home is located in the gated community of Montevista (which spoils residents with a 5-acre park, basketball court, playground, & more).

37945 S Blue Tank Trail Wickenburg, AZ 85390

$1,999,500
4 Beds
3 Baths
3,467 SqFt
Status Active Under Contract
MLS # 6752522
Property Type Single Family Residence
Price Type --
This luxurious Spanish-style estate sprawls 10 acres of pristine desert landscape, offering unparalleled privacy and breathtaking 360-degree panoramic views!! Step into luxury as you enter this meticulously designed home featuring exquisite details at every turn. The negative edge pool and jacuzzi beckon for relaxation while you soak in the stunning desert vistas. Inside, the vaulted tongue and groove ceilings create an atmosphere of grandeur, complemented by hand-carved stone imported from Mexico and handmade cedar cabinets and doors. The gourmet kitchen is a chef's dream, boasting upgraded appliances, stunning granite countertops, and ample space for culinary creations. Indulge in the tranquility of the hand-painted tile in the bathrooms, complete with a jetted bathtub for ultimate relaxation. Throughout the home, you'll find timeless Saltillo floors and fireplaces, perfect for cozy evenings spent with loved ones. For the equestrian enthusiast, a horse barn awaits, ready to accommodate your equine companions. Miles of trails are available for riding! The immaculate courtyard and landscaping provide a serene outdoor oasis, ideal for entertaining guests or enjoying quiet moments of reflection. Casita provides private luxurious guest housing! With a 4-car garage, 50' RV Garage and owned Solar Panels ensuring low-cost living, this property offers both luxury and sustainability. Don't miss your chance to own this slice of paradise in the heart of Wickenburg!

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