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

7563 W Electra Lane Peoria, AZ 85383

$1,339,000

4 Beds

3 Baths

3,080 SqFt

Status Active

MLS # 6647195

Property Type Single Family Residence

Price Type --

Welcome Home to this BREATHTAKING PROPERTY situated in a quiet Cul-De Sac lot in a prestigious GATED Community!! This HOME is sure to AMAZE You! Immediately upon entering this Well-Designed SPACIOUS Home, you will FALL IN LOVE with the Open Concept Living Space, Boasting ELEGANCE and STYLE throughout. Highlighting a GORGEOUS Kitchen, Well-Equipped with Tons of BEAUTIFUL Cabinets, AWE-STRIKING Granite Countertops, Massive ISLAND, Double Ovens, Stainless Steel Appliances, Built-In Wine Fridge, Eat-In Kitchen and Breakfast Bar with Beautiful Pendant Lighting. The Kitchen Opens to the LIGHT & BRIGHT Great Room where you will Find the Formal Dining Area HIGHLIGHTING a Modern Lighting Fixture, Beautiful Flooring and soaring ceilings. Continue to be IMPRESSED as you enter the Exquisite Owner's Suite. This Spacious bedroom offers a LAVISH En-Suite with Spa Inspired Bath, Beautifully Tiled STEP-IN Shower, STUNNING Staggered Dual Vanities and the Well-Appointed Walk-In Closet. This Home is Perfect for Entertaining or Relaxing Outside. Invite your guests outdoors to Indulge in Relaxation Under the Covered, SUNKEN RAMADA with Built-In BBQ and Fireplace while you Adore the Beautiful low-maintenance Landscaping and Sparkling Pool. Enjoy tons of Garage Space with Additional RV Parking. Close to Shopping, Dining, Freeways, and So Much More!! Hurry to see this one, you are sure to be IMPRESSED!!!

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2020 S Pleasant View Drive Show Low, AZ 85901

$1,335,000

6 Beds

4 Baths

4,503 SqFt

Status Active

MLS # 6759922

Property Type Single Family Residence

Price Type --

OWNER MAY CARRY! This luxurious freshly remodeled and updated hideaway nestled in Sierra Pines offers unparalleled tranquility and stunning natural beauty, providing the perfect escape from the hustle and bustle of daily life. Tucked away at the end of a long private driveway, this expansive home is enveloped by mature ponderosa pines, ensuring your peace and privacy. Imagine waking up to breathtaking treetop views and ending your day with stunning sunsets that paint the sky in vibrant hues. With abundant outdoor space, this property invites you to explore and reconnect with nature. Step inside to discover a spacious main level that seamlessly integrates the living, dining, and kitchen areas. Large picture windows fill the space with flowing natural light, bringing the beauty of the outdoors inside. The open kitchen is a chef's delight, featuring a gas stove, stainless steel appliances, gorgeous bamboo hardwood flooring, ample cupboard space, and a huge granite island with custom cabinetry. Whether you're hosting a large gathering or enjoying an intimate dinner, this space is designed for functionality and style. The upper level boasts four bedrooms, each offering serene treetop views, and a spacious loft perfect for relaxation or a home office. A conveniently located laundry room adds to the home's functionality. The lower level is ideal for multi-generational living, with two additional bedrooms, a living area, a guest kitchenette, and a second laundry room, providing comfort and privacy for all. The attached two-car garage, finished with durable waterproof LVP flooring that's offers versatile use as an additional bunkhouse or a standard garage. The beautifully landscaped circular paver driveway enhances the property's curb appeal and functionality. Living in the White Mountains offers a slower pace and cooler temperatures, making it an ideal location for those seeking both relaxation and adventure. Embrace the four-season weather with activities like hiking, biking, and fishing right at your doorstep. Enjoy abundant wildlife viewing opportunities and immerse yourself in the unique landscape that characterizes this region. Despite its secluded feel, this home is just minutes from the amenities of Show Low. Low HOA fees ensure that property values are maintained with minimal expense or hassle, giving you peace of mind and more time to enjoy your beautiful surroundings.

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6840 N 13th Place Phoenix, AZ 85014

$1,335,000

4 Beds

2.5 Baths

2,543 SqFt

Status Active

MLS # 6763871

Property Type Single Family Residence

Price Type --

Assumable VA loan available! Modern living meets luxury upgrades in this 4/2.5 home located in North Central Phoenix. Built in 2019, this property offers a seamless blend of contemporary design and eco-conscious features, all without the burden of an HOA. The open floor plan highlights clean lines and modern finishes, including finished concrete floors, euro-style cabinets, a redesigned kitchen island with new countertops, stainless steel appliances, and a natural gas cooktop. Expanding on the eco-conscious theme, the property features beautifully designed xeriscape landscaping, complemented by a custom vegetable and herb garden, creating your own personal oasis in both the front and back yards. Sun-blocking window shades and owned solar panels ensure year-round energy efficiency The house boasts 2 beautiful patios, one in front and back, along with a custom veggie/herb garden to round out your outdoor oasis'. Conveniently located near the Midtown Corridor, Arcadia, Biltmore Fashion Square, and Downtown Phoenix, this home offers easy access to top shopping, dining, and entertainment options, as well as major highways for quick commutes. Don't miss the chance to own this thoughtfully designed, move-in-ready home.

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7466 E Thorntree Drive Scottsdale, AZ 85266

Open House

$1,335,000

3 Beds

3 Baths

2,787 SqFt

Status Active

MLS # 6738319

Property Type Single Family Residence

Price Type --

Soft contemporary desert home located on a serene cul-de-sac in The Boulders, featuring sweeping views of Black Mountain. Highly sought after floorplan with several entertaining options, soaring ceilings, zero interior steps throughout. Living spaces are open, bright and spacious featuring hardwood & flagstone flooring. Kitchen with Sub Zero refrigerator flows beautifully into family room with gas fireplace. Primary suite is oversized, offering multiple closets and generous bath. 2 additional guest rooms, one currently being used as an office, round out to property to a full three bedroom, three bath. Lot feels oversized and is adjacent to open space, desert vistas abound as well as patio space for dining al fresco. Sophisticated, imbibed with natural light, this home is a distinct find.

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2524 W Joy Ranch Road Phoenix, AZ 85086

$1,329,900

4 Beds

3.5 Baths

2,808 SqFt

Status Active

MLS # 6727091

Property Type Single Family Residence

Price Type --

Discover this pristine 4-bedroom, 3.5-bathroom home, barely lived in for four months since its construction, yet enhanced with over $110,000 in luxurious upgrades since move-in. The residence boasts a sprawling 47'x19' RV garage that seamlessly connects to an additional 4-car garage, offering ample space for vehicles and storage. Enjoy the convenience of fully paved access to the property, including an oversized concrete driveway. The property benefits greatly from its location directly across the street from miles of state trust land, which enhances its already amazing views. Inside, the home exudes modern elegance with wood-like tile plank flooring, soaring ceilings, and an open-concept layout ideal for comfortable living. An electric fireplace creates a cozy focal point in the spacious living room, while the large kitchen island invites gatherings with its abundant seating and plenty of cabinet space. A versatile nook provides flexibility for a coffee bar, breakfast area, or window bench. The masterfully designed laundry room includes a practical mudroom area, adding to the home's functionality. Outside, the fully landscaped backyard is a retreat with extensive pavers, artificial turf, and a generously sized covered patio, perfect for outdoor entertaining or relaxation. Privacy is assured by a block wall enclosing the backyard. Conveniently situated directly across from state land, the home offers breathtaking mountain views and easy access to hiking and riding trails. Quick connectivity to the I-17 ensures effortless commuting and access to amenities. This home is perfect for those seeking a move-in ready property.

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19550 N Grayhawk Drive Unit 1127 Scottsdale, AZ 85255

$1,329,000

3 Beds

2 Baths

1,834 SqFt

Status Active

MLS # 6766674

Property Type Townhouse

Price Type --

Discover this exquisitely remodeled 3-bedroom, 2-bathroom townhome in the prestigious Grayhawk community, perfectly situated on the golf course. Every inch of this home has been thoughtfully updated with the finest luxury finishes, offering a perfect blend of style and sophistication. Step into the spacious living area featuring a grand fireplace, perfect for cozy evenings, complemented by a custom wet bar and three wine fridges—a true entertainer's dream. The gourmet kitchen boasts Café appliances, quartzite countertops, and ample space for the most discerning chef. Retreat to the luxury master suite, complete with a spa-like bathroom featuring a sleek glass and tile shower, a serene soaking tub, and an expansive walk-in closet. The outdoor space is equally impressive, with brand-new landscaping, a tranquil fountain, and a hot tub ideal for unwinding after a long day. Whether enjoying the backyard oasis or taking in the golf course and mountain views, this home offers an unparalleled Scottsdale lifestyle. Don't miss out on this rare opportunity to live in Grayhawk's finest. Schedule your private showing today!

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8073 N Harmony Lane Flagstaff, AZ 86001

$1,325,000

4 Beds

3 Baths

2,969 SqFt

Status Active

MLS # 6756276

Property Type Single Family Residence

Price Type --

To be built. New larger floor plan offering 2969 sqft! Plans semi-customizable. This luxurious home will be built on one acre at the base of the San Francisco Peaks. Almost instant access to Arizona Snowbowl Ski Resort and world-class hiking/biking trails, yet only minutes from downtown Flagstaff. Pictures featured are from a previously completed home. They are provided as an example of amenities available. Exact amenities and buyer selections will vary. This open floor plan features a gourmet kitchen, a great room that transitions seamlessly to outdoor living with spectacular views of the peaks. 4 bedrooms, 3 baths with a pull-through RV garage!! Homes by this builder completed on adjacent lots. Pictures & additional info available upon request.

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3323 W Desert Dawn Drive Phoenix, AZ 85083

$1,325,000

4 Beds

5 Baths

3,727 SqFt

Status Active

MLS # 6776085

Property Type Single Family Residence

Price Type --

Seller offering 1% concession towards rate buydown, landscape etc. This soft contemporary home is 100% new construction and is tucked back in a quiet cul-de-sac surrounded by million-dollar homes. Optimally designed for modern living this home has it all. As you enter, you are greeted with soaring ceilings and a great room that is flooded with natural light. Each generously sized bedroom boasts en suite baths and walk-in closets. The open concept kitchen is well appointed with quartz counters, white shaker cabinetry and LG Studio appliances. A large island sits at the center which overlooks the great room, ideal for gathering and entertaining. The primary suite is a true retreat with a spa-like bathroom complete with soaking tub, quartz counters, dual vanities and an oversized shower. The massive primary walk-in closet is situated with access to the laundry. Boasting 4 bedrooms and 5 baths plus a spacious den/flex space and 3-car garage there is ample room for all and for storage. Enjoy mountain views, easy freeway access, close proximity to Lake Pleasant, and numerous options for nearby shopping and dining. There is plenty of space for a pool and an RV gate is ready for your boat, off-road toys or extra vehicle storage. All this with the peace of mind of a quality new built home.

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1955 E Blackhawk Drive Gilbert, AZ 85298

$1,325,000

4 Beds

3.5 Baths

3,882 SqFt

Status Active

MLS # 6772431

Property Type Single Family Residence

Price Type --

This home will not disappoint! Fantastic farm style home with a gen-suite model including 4-bedrooms, 3.5 bathrooms in Marathon Ranch! Gated community with lots of walking trails is adjacent to the San Tan mountains. Lots of curb appeal with brick veneer accents, artificial turf, 3-car garage, paver driveway, manicured front yard, and a welcoming courtyard are just the beginning. An inviting contemporary design with modern fixtures and an open concept with over 3200 sqft in the main home, plus a gen-suite with approximately 700 sqft with a separate entrance. Discover a spacious open floor plan with elegant tile flooring, high ceilings, custom palette throughout, and plantation shutters. The living room is the perfect place for entertaining family and friends with a large sliding glass door that can be used for letting in the natural light with an indoor/outdoor concept. The formal dining room can also be used as a lounge area! The gourmet kitchen is equipped with white cabinetry with crown moulding, a large walk-in pantry, double ovens, quartz counters, SS appliances, pendant lighting, and a spacious island with a breakfast bar. The enormous main bedroom boasts private outdoor access, a walk-in closet, and an elegante ensuite bathroom with a separate tub & shower, dual sinks, and a walk-in closet. The remaining bedrooms are a nice size with soft carpeting with a shared bathroom and walk-in closets. Laundry inside with lots of storage & utility sink. The gen-suite offers a living area, laundry inside with stackable washer & dryer, a nice size bathroom with large shower, a kitchenette with a full-size refrigerator & microwave, and 2 separate entrances! Don't forget about the wonderful backyard, that includes a covered & enclosed patio, extended seating area, a putting green, and a refreshing hot tub! The home of your dreams is here! Stackable washer & dryer in gen-suite will convey. All 3 refrigerators will convey. Equipped with Level 2 EV Charger. Fireplace is electric and will convey.

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3739 E Sagebrush Street Gilbert, AZ 85296

$1,325,000

4 Beds

3 Baths

3,461 SqFt

Status Active

MLS # 6714172

Property Type Single Family Residence

Price Type --

Welcome to this beautiful 4-bedroom residence nestled in the Lakeview Trails Community! Prepare to be impressed by a spacious open layout showcasing tile flooring, a fresh soothing palette, recessed lighting, and high 12ft ceilings in Living room and Kitchen . The remarkable Gourment kitchen features light gray cabinetry, stainless steel appliances, quartz counters, a chic mosaic herringbone pattern backsplash, double wall oven, a walk-in pantry, and a large center island including a breakfast bar. Discover the main retreat comprised of soft carpet in all the right places, a walk-in closet, and an immaculate ensuite for added comfort. Host memorable gatherings in the fabulous backyard, offering covered and open patios! What's not to like? Make this heaven yours!

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2072 E Blackhawk Court Gilbert, AZ 85298

$1,325,000

4 Beds

4 Baths

3,897 SqFt

Status Active

MLS # 6771468

Property Type Single Family Residence

Price Type --

Stunning and meticulous home in the exclusive gated, one-story community of Marathon Ranch. Situated on a 12,600 square foot cul-de-sac lot, this highly upgraded home has room for everyone with 4 bedrooms, 4 bathrooms, and 4 car garage plus a formal dining room, separate office, and game room. You will love the majestic views of the San Tan Mountains and the community exercise trail along the canal just steps away. Enjoy privacy with mature trees and shrubs around the property creating a serene connection with nature and the outdoors. Upon entering the foyer, you will be greeted with a dramatic view of the pool and backyard. The great room with coffered ceilings, surround speakers, and 20' sliding glass door offers the ultimate in relaxation and entertainment. Adding to the great room ambience is the floor to ceiling stone fireplace with electric heat, on or off, and flame with changeable colors. The rear covered patio, fire pit, heated pool, and artificial turf show off the backyard with clean and crisp perfection. The kitchen is any chef's dream with under cabinet lighting, 5 burner gas cook top, double ovens, large pantry, and cabinets galore. All bedrooms have walk-in closets and the primary has his and hers closets. One of the garages is tandem providing extra depth with a 220V 50amp outlet and both garages have epoxy floors and overhead storage racks. What a perfect space for the entire family all on one level with a fully wired security system and too many perks to mention. Gilbert is continually ranked as one of the safest towns, and this area has a charming rural feel but is still in close proximity to highly rated schools, retail, parks, and the AZ-202.

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18131 W Palo Verde Court Litchfield Park, AZ 85340

$1,325,000

4 Beds

4 Baths

4,322 SqFt

Status Active

MLS # 6761977

Property Type Single Family Residence

Price Type --

This luxury 4 bdrm + flex room 3.5 bath custom home sits on a ½ acre lot in the comfort of a gated community. Stellar features include an open concept floorplan, 12 ft coffered ceilings, travertine floors, wood shutters, spacious bedrooms, walk-in closets, gas fireplace in the greatroom, a dramatic wall of glass, & solar panels saving hundreds on summer electric bills. Stunning chef's kitchen hosts 2 pantries, custom cabinets, granite counters, large island w/prep sink & bar seating, & GE Monogram appliances w/6-burner gas range/griddle, double ovens, & oversized refrigerator. The Primary suite dons a bow window, private exit to back patio, custom built-in closet, jacuzzi tub, dual vanities, & snail shower. The backyard oasis has a lighted sports court & plenty of room to add a pool.

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