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

10042 S Greenfield Road Gilbert, AZ 85234

$1,375,000

6 Beds

4 Baths

5,210 SqFt

Status Active

MLS # 6775238

Property Type Single Family Residence

Price Type --

Here is your opportunity to OWN ACREAGE in the heart of Gilbert, AZ with NO HOA restrictions! This expansive property offers endless possibilities for creating your dream homestead. With 6 bedrooms, 4 bathrooms, and a 3-car garage, there's plenty of room for everyone. The huge kitchen features an oversized island with seating for 8, perfect for family gatherings or entertaining. The fully finished basement boasts 9-foot ceilings, 3 oversized bedrooms with large walk-in closets, a spacious game room, and a wet bar—an ideal space for fun and relaxation. The attached casita provides extra flexibility with its own private bathroom and a single-car garage, perfect for guests or extended family. (MORE) Outdoors, there's ample room to build a shop, detached accessory building, or guest house. A separated pasture with flood irrigation offers plenty of space for animals, making this property ideal for those looking to enjoy a bit of country living while still being close to all the conveniences of Gilbert.

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10223 N 103 Street Scottsdale, AZ 85258

$1,375,000

2 Beds

2 Baths

1,946 SqFt

Status Active

MLS # 6774157

Property Type Single Family Residence

Price Type --

CAPTIVATING WATERFRONT w/a sophisticated and timeless renovation. This property showcases meticulous attention to detail ... chef's kitchen equipped with premium cabinetry, 6 burner Thermador gas range and double ovens, Dacor warming drawer, wine refrig, NEW 30'' Subzero Refrig and 30'' Freezer. Large island w/FRANKE Villeroy Boch sink and sitting area overlooking Lake Serena! Provenza hand-scrapped hardwood floors throughout with 2 bedrooms PLUS DEN/OFFICE! Generous primary bedroom w/walk-in shower in bath. Plantation shutters throughout. Stunning infinity pool appears to flow into the Lake! New extended boat dock, special lighting with exposed aggregate stairs down to a large entertaining area on the water! Artificial turf. Gated community close to park, shopping. DON'T MISS OUT!

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5000 E Lake Country Road Flagstaff, AZ 86004

$1,375,000

5 Beds

3.5 Baths

4,019 SqFt

Status Active

MLS # 6776023

Property Type Single Family Residence

Price Type --

Discover 5000 E Lake Country Dr, an elegant Tudor-style estate set on a private 1-acre lot in Flagstaff's coveted Lakeside Acres. This timeless residence features a detached Casita and blends classic architecture with modern comforts. A unique property in a stunning location, offering both elegance and versatility.

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3920 E Covey Lane Phoenix, AZ 85050

$1,375,000

5 Beds

4.5 Baths

4,044 SqFt

Status Active

MLS # 6777915

Property Type Single Family Residence

Price Type --

Welcome to your poolside paradise in Fireside at Desert Ridge! This ''Chattanooga'' floor plan sits on a premium oversized cul-de-sac lot featuring a newly added pool/spa with relaxing water features, an ''endless'' swim lane, and cozy fireplace/fire bowls. With professionally designed interiors, this home has been thoughtfully upgraded with new tile, hardwood flooring, carpet, interior paint, and a refreshed kitchen boasting new quartz counters. Other improvements made include a tankless water heater, 240v electric vehicle charging, spa heater, laundry sink, landscaping/landscape lighting, fixtures, and exterior paint. Enjoy a carefree lifestyle at Fireside with resort amenities at the luxurious community center and the convenience of being minutes from Desert Ridge award-winning schools, dining, shopping, and convenient freeway access.

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3248 Rising Sun Ridge Wickenburg, AZ 85390

$1,375,000

3 Beds

3.5 Baths

2,771 SqFt

Status Active

MLS # 6778003

Property Type Single Family Residence

Price Type --

Discover elevated living in this beautifully upgraded Latigo home in Wickenburg Ranch. With 2,771 sqft of thoughtfully designed space, this residence offers a tranquil retreat. The open floor plan fills the living spaces with natural light. The gourmet kitchen features a gas range, wine cooler & ample counter space ideal for entertaining. The primary suite features a spa like bathroom with a freestanding bathtub, glass enclosed shower with multiple heads & his and hers closets. The detached casita offers its own full bathroom providing a perfect space for guests. Outside the patio features a pool & spa with mountain views. Experience resort-style living w/ golf dining & social amenities. Don't miss this exceptional desert retreat!

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2863 N Boldt Drive Flagstaff, AZ 86001

New

$1,375,000

5 Beds

3 Baths

2,993 SqFt

Status Active

MLS # 6780659

Property Type Single Family Residence

Price Type --

Welcome to a stunning custom home located in Linwood Heights. Situated on over an acre, this property provides both privacy and tranquility. Wake up each morning to breathtaking San Francisco Peak views from the primary suite, complete with a cozy fireplace, wet bar, and private sitting area—a true retreat within the home. The primary bath has a soaking tub and separate shower for ultimate relaxation. With an open, airy layout, and multiple deck access points, this home offers a blend of sophistication and comfort. The kitchen has granite countertops, stainless-steel appliances, and beautiful custom cabinetry. 3 car garage! As a Linwood Heights homeowner, you'll have exclusive access to the 180-acre Jesse Gregg Park and its amenities. Just minutes to AZ Snowbowl, and Downtown!

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17775 E Veit Springs Drive Rio Verde, AZ 85263

$1,375,000

3 Beds

3.5 Baths

2,681 SqFt

Status Active

MLS # 6760283

Property Type Single Family Residence

Price Type --

Absolutely stunning newly built SHEA HOMES property with endless on-trend features located in the 55+ gated Trilogy at Verde River community. This massive 9567 sqft golf course lot has breathtaking mountain views of Four Peaks and no rear neighbor for optimal privacy. As you approach you are greeted by a relaxing private courtyard with a charming stacked stone fireplace. The chef's kitchen has a formal eat-in area and boasts custom cabinetry, stainless appliances, granite counters, large island with breakfast bar, backsplash, wine fridge, R/O system, and a gas cooktop with hood. Relax in the spacious great room with oversized sliding doors to create the perfect indoor/outdoor space for entertaining. The luxurious master suite has a private patio slider, large walk-in closet, and a full bathroom with dual sinks and a walk-in shower with glass enclosure. Other features include Smart Home technology, gas water heater, home office den, owned water softener, laundry space with built-in desk, 3 car garage, and an underground 250 gal propane tank. Utilize the separate guest casita as the perfect spot for hosting family or friends. The resort style backyard has a sparkling heated pool and spa, wrought iron view fence, faux grass lawn, raised fire pit seating area, and a large covered patio with a custom heater, privacy screen, mounted TV, and a full BBQ kitchen area. Don't miss out on this perfect property that has everything today's market seeks!

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3418 E Las Rocas Drive Phoenix, AZ 85028

$1,375,000

4 Beds

2.5 Baths

3,149 SqFt

Status Active Under Contract

MLS # 6764450

Property Type Single Family Residence

Price Type --

Steps from the Phoenix Mountain Preserve: A Timeless Territorial Gem. Nestled within an exclusive enclave of custom homes, this beautifully remodeled Territorial residence offers a masterful blend of elegance, comfort, and modern charm. If you're an outdoor enthusiast, you'll love being just minutes from the Phoenix Mountain Preserve's extensive hiking trails. As you step inside, you're welcomed by the warm tones of classic Saltillo tiles, striking round wood columns, and the inviting ambiance of four fireplaces—three indoors and one on the back patio, perfect for cool Arizona evenings. The heart of the home, the kitchen, features solid maple cabinetry, stainless steel appliances, a peninsula bar for casual dining, a generous walk-in pantry, and a sunlit breakfast nook framed by crystal and leaded-glass bay windows, opening to a serene patio. Designed with entertaining in mind. complete with a fireplace for cozy evenings under the stars. Outside, the backyard transforms into your personal oasis, featuring a pebble-sheen pool with in-floor cleaning for effortless upkeep. Enjoy breathtaking mountain views from the side of the home, where the living area opens up to reveal the serene beauty of the Phoenix Mountain Preserve, creating the perfect backdrop for relaxation and outdoor living.

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2974 E Camellia Drive Gilbert, AZ 85296

$1,375,000

9 Beds

5.5 Baths

5,979 SqFt

Status Active

MLS # 6700965

Property Type Single Family Residence

Price Type --

Price reduction is lower than recent appraisal - get instant equity! This one of a kind home features 7 bedrooms/5.5 baths/basement PLUS a 2 bedroom casita. Open floor plan boasts a spacious living area perfect for entertaining guests & enjoying family time. Entertain in style w multiple living areas, including a formal dining, wet bar, cozy living room w gas fireplace. Primary bath has steam shower, sep tub w jets & large w/in closet. Backyard boast synthetic grass for easy upkeep. The whole family can enjoy your private pool/spa and large covered patio. Basement has plenty of space to convert into a theatre. Agritopia is known for its tree-lined streets, community gardens, and friendly atmosphere. Residents enjoy nearby amenities such as parks, restaurants & shopping.Just off the 202 fw Welcome to this charming home in the highly sought after Agritopia! Charming community has many family oriented event happening monthly. This is a rare find with the 2 bedroom guest house. 9 bedrooms total plus an office with builtin bookshelves. Walking distance to Gilbert Christian School. Rent out the 2 bedroom casita for $1850 - $2300 a month to subsidize the mortgage payments. The casita is 860 st ft, with W/D, full kitchen and a back yard which is gated. New carpet & paint in the home and guest house. Back yard is designed for low maintenance care. Close to the Freeway for easy access to anywhere is the valley.

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2796 E Valencia Street Gilbert, AZ 85296

$1,375,000

6 Beds

4 Baths

4,774 SqFt

Status Active

MLS # 6748047

Property Type Single Family Residence

Price Type --

Remodeled BASEMENT BUNGALOW in AGRITOPIA, WITH POOL! These homes don't come along very often! Ranch single story Plan 3 with full basement. Private entry porch with side yard driveway parking. Main floor features handscaped Hickory eng. flooring leading from front living room to dining room and CUSTOM kitchen adjacent to GREAT ROOM w/ Gas Fireplace. Main floor primary bedroom with large bath and OFFICE/NURSERY hidden nicely within the suite. Split on its own hallway, 2 more large main floor bedrooms and full bath. Wood flooring leads down the stairs into a LARGE GAME ROOM/ Home Theater with kitchenette and full size fridge. 3 additional large bedrooms and 2 baths downstairs, and large storage room / gym give numerous arrangements. Outside, your comfortable entertaining oasis awaits... Large Pool with Spa, Firewall and Firepit, beneath a spacious backporch. Plenty of room opposite pool for backyard games. This home just a few blocks from the large park and dog park, and just a few steps to the Agritopia U-pick orchard and Coffee Shop / Restaurants. This is your chance to get in to the neighborhood COMING SOON - preview opportunities available before market.

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5679 E Beverly Lane Scottsdale, AZ 85254

$1,375,000

5 Beds

3 Baths

3,349 SqFt

Status Active

MLS # 6741331

Property Type Single Family Residence

Price Type --

This beautifully renovated home boasts a thoughtfully designed floor plan with striking vaulted ceilings and an array of high-end finishes and material selections. You'll find European oak engineered hardwood floors throughout, complemented by luxurious Taj Mahal quartz countertops. A brand new sleek steel pivot front door add a touch of sophistication. The expansive living area includes a stylish bar with a wine and beverage cooler. High end plumbing fixtures throughout. A versatile bonus room awaits your personal touch—whether as a home office, gym, or play area for kids. Backyard has an expansive pool featuring a spacious covered patio surrounded by lush trees, shrubs, and turf, creating a peaceful oasis.

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7055 E Brilliant Sky Drive Scottsdale, AZ 85266

$1,375,000

3 Beds

3 Baths

1,687 SqFt

Status Active

MLS # 6748816

Property Type Single Family Residence

Price Type --

This gorgeous Novus plan has been completely transformed by the talented crew at Scottsdale Investment Props. All new everything from the cabinets to the floors & counters this split plan great room home has high flat ceilings w/large pocket door for indoor/outdoor living AND detached casita. Located on a south facing lot backing open space & a quick walk to the club makes this an ideal location far from any busy streets. Finishes are top notch including engineered hardwood & tile floors, raised panel 42'' cabinets w/hardware, satin plumbing fixtures, quartz counters, custom gas fireplace w/large format tile surrounds, ceiling fans, LED lighting throughout, ss appliances, etc. Back yard features covered patio, fire pit, b-in bbq, & tiled decking w/low maintenance landscaping.

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