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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8293 E Tailspin Lane Scottsdale, AZ 85255

$1,350,000

3 Beds

2.5 Baths

2,704 SqFt

Status Active

MLS # 6771509

Property Type Single Family Residence

Price Type --

Welcome to your serene retreat in the exclusive, guard-gated Talon Retreat community of Grayhawk! This stunning single-story TW Lewis home features 3 spacious bedrooms and 2.5 luxurious baths, designed for comfortable living and entertaining. As you enter, you'll be captivated by the soaring 12-foot ceilings that create an open, airy atmosphere. The thoughtfully designed layout includes a bright and inviting living area, perfect for gatherings with family and friends. Step outside to your private backyard oasis, complete with a sparkling pool and a secluded patio. This tranquil space is ideal for relaxation or enjoying quiet moments amidst beautiful landscaping. Don't miss the opportunity to experience the best of Scottsdale living in this exquisite home.

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10222 N 103rd Street Scottsdale, AZ 85258

$1,350,000

3 Beds

2 Baths

2,112 SqFt

Status Active

MLS # 6774703

Property Type Single Family Residence

Price Type --

Enjoy privacy without compromising Lake views in this Waterfront lot! The spacious kitchen features a breakfast bar, wine refrigerator, stainless steel appliances, and elegant granite countertops. The luxurious Master Suite includes a custom walk-in closet and a refreshing multi-head shower. Step outside to the lakefront patio, complete with a custom bar and a hot tub \ spa, great for entertaining. Enjoy sunsets from your own private boat dock

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3759 S Dew Drop Lane Gilbert, AZ 85297

$1,350,000

6 Beds

4 Baths

4,068 SqFt

Status Active

MLS # 6773996

Property Type Single Family Residence

Price Type --

Welcome to this SPLENDID dream home. A rare, fully updated home with beautiful BASEMENT in the well-established Power Ranch Community. Corner lot, greenbelt. Brimming with opulent details, this home has all the contemporary and esthetically pleasing features, such as all NEW kitchen with lavish natural marble countertops, new cabinets, farm sink, appliances, custom designed range hood, double oven and microwave drawer. All bathrooms are NEW. Quiet luxury primary ensuite and main floor powder/guest bath. NEW floorings throughout. NEW AC system. This home has a complete BASEMENT that welcomes you to your very own speak-easy bar. Tons of room for entertaining. Second laundry and a scullery in the basement for your ultimate comfort living. One of a kind, carefully designed, carefully curated.

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29888 N 78th Street Scottsdale, AZ 85266

$1,350,000

4 Beds

3 Baths

2,884 SqFt

Status Active

MLS # 6777383

Property Type Single Family Residence

Price Type --

Completely Renovated Single Level Home! RARE FIND OVERSIZED Half Acre LOT backing to Natural Desert Open Space **Permitted Addition Enlarged the Primary Bath w/ Oversized Shower & Huge Custom Primary Closet**Stunning New Kitchen w/ White Shaker Cabinets, Quartz Counters & Stainless Appliances**Kitchen opens to Family Room w/ Fireplace**Beautiful & Durable LVT Wide Plank Flooring**Solid Core Single Panel Interior Doors w/ Solid Wood Casings & Baseboards**12 New Milgard Windows**New Bath Cabinets, Quartz Counters & Fixtures**4 Bedroom, 3 Full Baths**HIGH Ceilings**3 Car Garage**Newer Roof**2018 New AC's w/ Fresh Air intakes & Air Filtration**New Patio, Pavers & Landscaping**Fabulous Relaxing Private, Quiet Yard w/ Built in BBQ** Fabulous Renovated Home & Move In Ready!

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15802 N 71st Street Unit 452 Scottsdale, AZ 85254

$1,350,000

2 Beds

2.5 Baths

2,055 SqFt

Status Active

MLS # 6781495

Property Type Apartment

Price Type --

Experience Unmatched Luxury at the Landmark Community: Welcome to Landmark, an exclusive residence with only 98 units, housed in two architecturally striking 6-7 story towers, meticulously designed by an acoustical engineer for optimal sound quality and tranquility. Nestled alongside the lush Kierland Resort Golf Course, Landmark offers a breathtaking setting with panoramic sunset and city light views. Unit 452 is located in the sought-after Tower II and offers views of Camelback Mountain, city lights and slight golf course. This thoughtfully designed great room floor plan features two spacious, split ensuite bedrooms plus an office/flex space. The gourmet kitchen is a chef's dream, with richly stained cabinetry, granite counters, a gas cooktop, and stainless steel appliances, including a Sub-Zero refrigerator. The adjoining great room, perfect for entertaining, offers an impressive setting where guests can marvel at the views while the sun sets over the valley. Landmark's residents enjoy unparalleled service, including a full-time concierge, a daily porter, and a dedicated engineer to keep everything running smoothly. Safety is paramount, with 24/7 gated security for peace of mind whether you're in town or away. Stay active in one of the two gymsone conveniently located on your floor and another by the pool. For relaxation, Landmark offers multiple gathering spaces both indoors and outdoors, a heated pool and spa, a steam room with lockers, a wine cellar, and a club room with a catering kitchen. Host barbecues in the outdoor area with a pizza oven, or conduct business seamlessly with an on-site conference room. Embrace an elevated lifestyle at Landmark, where luxury, convenience, and breathtaking views come together in one extraordinary place.

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42315 N Olympic Fields Court Anthem, AZ 85086

$1,350,000

4 Beds

4.5 Baths

3,770 SqFt

Status Active

MLS # 6783493

Property Type Single Family Residence

Price Type --

One of the most coveted streets in Anthem Country Club, with breathtaking desert & mountain vistas. The dramatic entry leads to formal living area, featuring elegant, curved wall & expansive windows that frame million-dollar views. The kitchen includes stainless GE Monogram refrigerator and dual wall ovens, granite counters, gas cooktop & breakfast bar island. Enjoy spacious, oversized bedrooms, including a Primary Suite with sitting area, dual entry walk-in shower and dual walk-in closets. The fourth bedroom, currently used as a versatile home office with a Murphy bed, includes its own private bathroom and closet. Backyard includes gas BBQ island, PebbleTec spa, extended paver patio & amazing mountain views. Additional features include rain gutters and an epoxy-coated garage floor.

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15730 E Greystone Drive Fountain Hills, AZ 85268

$1,350,000

3 Beds

2.5 Baths

3,984 SqFt

Status Active

MLS # 6781756

Property Type Single Family Residence

Price Type --

Beautiful custom 3-bedroom, 2.5-bath home with 3-car garage, motorized security screens, and magnificent mountain views from the back. Walkout basement with two bedrooms and full bath. Entry-level living area, kitchen, powder room, office, primary bedroom with full bath. Two full-length covered back patios. No HOA. Home was professionally remodeled in 2021, adding several high-end features and opening it up so the floor plan flows nicely. Recent exterior paint. Home theater seating, platform, and flat-screen TVs available under separate bill of sale.

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5634 E Justine Road Scottsdale, AZ 85254

$1,350,000

5 Beds

3 Baths

2,853 SqFt

Status Active Under Contract

MLS # 6772909

Property Type Single Family Residence

Price Type --

Experience the sophistication of this tastefully remodeled 5BR/3BA residence - a 14,000' lot nestled within one of Scottsdale's most coveted neighborhoods. Refined desert landscaping invites you into an expansive & open floor plan adorned with modern touches, providing warmth and elegance throughout. The sizeable kitchen is a masterwork of style and function highlighted by an impressive central island—perfect for entertaining & culinary pursuits alike. Step outside to a freshly revamped backyard oasis, revealing the best in Arizona outdoor living. A shimmering heated pool with a Pentair control system, built-in BBQ, shaded pergola & multiple lounging areas ideal for large gatherings. Immaculate throughout, this exceptional home places you at the center of Scottsdale's revered lifestyle!

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8625 E Clubhouse Way Scottsdale, AZ 85255

$1,350,000

3 Beds

2 Baths

2,416 SqFt

Status Active

MLS # 6770711

Property Type Single Family Residence

Price Type --

Gorgeous Updated home in the Prestigious Guard Gated Pinnacle Peak Country Club Estates. This 3 bedroom 2 bathroom home is meticulously maintained and beautifully updated. The backyard provides a private Oasis for all of you outdoor entertaining. New kitchen, South facing windows and doors as well as new floors throughout, too many upgrades to list, please see attached document. Easy walking to Pinnacle Peak Country Club.

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2866 S Petroglyph Trail Gold Canyon, AZ 85118

$1,350,000

4 Beds

3.5 Baths

3,043 SqFt

Status Active

MLS # 6782629

Property Type Single Family Residence

Price Type --

OFFERED FURNISHED & A GOLF MEMBERSHIP TO THE RENOWNED SUPERSTITION MOUNTAIN GOLF & COUNTRY CLUB, A LYLE ANDERSON COMMUNITY W/36 HOLES OF NICKLAUS DESIGNED GOLF W/A FULL PRICE OFFER ($100K value). Splendid Southwest contemporary designed by noted Tate Studio Architects, Luxe RED & Gold Nugget award recipients. Peacefully set on the 15th hole of the Lost Gold Course w/sunset, mountain & desert views. Private 24/7 guard gated community is less than 35 minutes to Sky Harbor & 20 minutes to Mesa Gateway. Golf club hosted 8 nationally televised Champion Tour & LPGA events. Single level & upgraded features 9'+ walls of glass on the much of its exterior taking in views of desert & golf. Its elegant simplicity creates a serene, luxurious environment perfect for entertaining or relaxation. Experience the pinnacle of desert living in this unparalleled property! Nine foot to 13.5' ceilings throughout. All concrete flooring. Trulite custom windows, large glass expanses, and clerestory accents all accentuate this striking modern southwest design. Kitchen and great room flow together creating a lovely setting for family, friends and social gatherings. ZLINE 6 burner gas stove with double ovens, Sub-Zero refrigerator, Cafe dishwasher, trash compactor, pantry. Butcher block countertops. Custom lighting. Kitchen island and breakfast bar. Three ensuite bedrooms/baths and one media room/office. Powder room accommodates the media room. Navien tankless hot water. Oversized 3 car garage with 23' offset bays complimented by a 41' width. Optional 4th car capacity by using a lift. Also, 220 volt charging outlet for EV's.Glimpses of city lights. Community has private streets and roving patrol. Golf club membership is not mandatory but option and is by separate agreement with club ownership. Social memberships also available. Gold Canyon is Arizona's best kept secret featuring low traffic and magnificent mountain views. Pinal county is 76% open space mostly Federal, State, and BLM lands taking the priority of ownership. Only one traffic light separates the residents from the Atlantic and Pacific Oceans via US 60 and the 101 to Sky Harbor! Best location, best value. Where else? Nowhere else but here! Gold Canyon is Arizona's best kept secret.

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6312 N 13th Street Phoenix, AZ 85014

$1,350,000

4 Beds

4 Baths

4,072 SqFt

Status Active

MLS # 6786904

Property Type Single Family Residence

Price Type --

An opportunity like this does not come often in Uptown Phoenix! This updated home is the perfect mix of mid century and contemporary living. Vaulted ceilings allow for a light, open feel downstairs and the sellers have retained the home's charms throughout the rehab process. With a bonus pool/game room, loft, and an upstairs guest suite with kitchenette, there are options for a 5th bedroom and flex space. The kitchen has been lovingly updated to include euro cabinets, granite counters, a pot filler, & timeless backsplash. The large yard, extended back patio, pergola, pool and spa make the property perfect for entertaining! With designer features and touches throughout, this home is ready for your personal finishes. Please excuse the dust as the sellers work to make this home yours!

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3800 E Lincoln Drive Unit 54 Phoenix, AZ 85018

$1,350,000

3 Beds

2.5 Baths

3,847 SqFt

Status Active Under Contract

MLS # 6787025

Property Type Single Family Residence

Price Type --

Perched on the hillside in exclusive guard gated Estate Antigua, is a lovely home eagerly waiting for new owners to make it their own. Positioned to take advantage of Camelback Mtn and Phoenix Preserve views at every turn. Generously sized rooms with tall ceilings only add to this gracious living space. 3 bedrooms and an office. Workspace and large storage room too. Estate Antigua has 2 sparkling pools as well as tennis and pickleball. Centrally located close to PV, Arcadia and the Biltmore. Hiking and golf at every turn. Perfect lock and leave property. Competitively priced, allowing new owners the opportunity to renovate and create a dream home. Truly a one of kind location in an unparalleled, distinctive community.

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