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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2521 W Pumpkin Ridge Drive Anthem, AZ 85086

$1,289,000

4 Beds

3.5 Baths

3,290 SqFt

Status Active

MLS # 6780784

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the prestigious Anthem Country Club! This stunning 4-bedroom, 3.5-bathroom Sonoma model sits on an elevated lot, offering sweeping views of the 17th hole of the Persimmon Golf Course, lush desert, majestic mountains, and twinkling evening lights. The spacious 3,290 sq ft layout includes a versatile den and a 3-car garage, all set on a serene 0.254-acre lot. Inside, a gourmet kitchen awaits with gleaming granite countertops, stainless steel appliances, and rich dark wood cabinetry. The open-concept layout flows seamlessly into the cozy family room and dining spaces, perfect for entertaining or simply enjoying the view. The owner's suite is a true retreat, featuring a luxurious tile walk-in shower and ample space for relaxation. Step...CONTINUE READING... ...outside to the backyard oasis where you'll find an expansive patio with an outdoor BBQ/bar area under a pergolaideal for al fresco dining. Unwind in the negative edge spool, heating up to 104°, with a tranquil cascading water feature. Whether you're soaking in the vibrant sunsets or hosting friends, this low-maintenance, meticulously landscaped yard offers the best of Arizona outdoor living. Experience resort-style elegance every day in this breathtaking Anthem Country Club home!

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16779 W Holly Street Goodyear, AZ 85395

$1,287,000

3 Beds

2.5 Baths

3,134 SqFt

Status Active

MLS # 6773405

Property Type Single Family Residence

Price Type --

This beautiful Cristall 3-bedroom, 3-bathroom home offers 3,134 sq ft of luxurious living space with golf course view. The home features a stacked stone exterior, a beautiful custom front door and front courtyard. The resort-style backyard is perfect for entertaining with an extended covered patio, lighted pergola, lounging areas with Tiki torches, a built-in BBQ island, 2 firepits, a water feature, and above-ground spa—all overlooking the 14th hole of Tuscany West. The gourmet kitchen is ideal for hosting, featuring a large island, upgraded cabinets, granite countertops, GE Monogram stainless steel appliances, a butler's pantry, and walk-in pantry. The spacious great room offers a stone fireplace and custom media center, with views from the great room, dining area, and main and bedroom. Off the kitchen is a cozy morning room that provides a perfect spot to relax. The primary bedroom offers a serene retreat with an ensuite bathroom featuring dual vanities, a soaking tub, walk-in shower, and large walk-in closet. A second bedroom includes a private bath, while the third bedroom near the front could double as a den or office. Additional features include a 3-car garage, owner-owned 34 solar panels, and a spacious laundry room. Located in the PebbleCreek active adult community, enjoy golf, swimming pools, pickleball, tennis, fitness center, and more.

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22633 N Clubhouse Way Scottsdale, AZ 85255

$1,286,000

3 Beds

2 Baths

2,582 SqFt

Status Active

MLS # 6627247

Property Type Single Family Residence

Price Type --

This significant golf property located in the highly desirable Pinnacle Peak Country Club in North Scottsdale overlooks the 11th fairway with a spectacular view of Pinnacle Peak. The property is ideal for those looking for an easy-care full-time residence or a lock-and-leave vacation home. All on one level this open flowing floor plan has been updated with new paint, new tile and low-pile carpet floors, kitchen and bath remodels and much more. Using today's modern finishes, this discerning home imparts the move-in-ready aspect. The home is entered from a stone pavered walk-way with room for front patio seating. Through the double door steel framed glass doors, the great room impresses with a vaulted beamed ceiling, iron chandelier, floor to ceiling tiled fireplace, wet bar, and glass sliders that lead to the patio. To the south the chef's kitchen is fully equipped with new granite countertops and appliances, a spacious island with a waterfall side, pendant lights and bar seating. The adjacent casual dining area extends convenience and outdoor access. The serene primary suite, in the North side of the home, features a double door entry, sitting space and patio access. Enjoy the ensuite bath with new double sink vanity, walk-in shower with floor to ceiling tile surround and a walk-in closet. For guests the sizeable second bedroom ensuite opens to the guest bath with tub and shower combination, also opening to the hall. The den or office, off the great room, has a double barn door entry and can easily be used as a third bedroom. The outdoor patio is delightful with views of the golf course and the actual Pinnacle Peak. The vaulted with beams covered patio space mimics the design of the great room inside. An outdoor fireplace, dining ramada, and beautiful mature desert landscape, including citrus trees creates the sought after outdoor Arizona casual lifestyle. Overall, this updated golf property is an excellent opportunity to own a prime location in North Scottsdale's Pinnacle Peak Country Club.

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6310 E Ludlow Drive Scottsdale, AZ 85254

Open House

$1,286,000

4 Beds

2 Baths

2,448 SqFt

Status Active

MLS # 6786546

Property Type Single Family Residence

Price Type --

Located minutes from Kierland Commons, Scottsdale Quarter, and top-rated schools, with no HOA, this home offers convenience and peace of mind. From the moment you enter through the striking custom pivot door, you'll sense the refinement that awaits inside. The open-concept floor plan blends comfort and style, creating an inviting and intimate atmosphere, bathed in natural light that highlights the vaulted ceilings and exposed beams. The heart of the home is the grand kitchen, boasting brand-new cabinetry, stunning quartz countertops, a sprawling 10-foot island, and top-tier stainless-steel appliances. Throughout the home, timeless oak plank flooring and premium finishes—including Delta eco-friendly fixtures, Bedrosians tile, designer light fixtures, and soft cashmere paint finishes The primary suite offers a serene retreat with dual vanities and his-and-hers showers for a spa-like experience. Set on a desirable corner lot, the property offers beautiful curb appeal, generous parking for vehicles, boats, or RVs, and an expansive backyard oasis. The outdoor space is impeccable, with lush landscaping, ambient lighting, and an efficient irrigation system. A paver patio, enhanced pool area, and charming gazebo create the perfect setting for serene evenings or outdoor entertaining. A detailed list of upgrades and warranties s available in the documents. Schedule your private showing today to experience a haven of cozy, modern living at its finest.

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26720 N 156th Street Scottsdale, AZ 85262

$1,285,000

3 Beds

2.5 Baths

2,633 SqFt

Status Active

MLS # 6773995

Property Type Single Family Residence

Price Type --

Tucked in off the main roads sits this beautifully maintained home on 2.26+ acres w/ lush desert foliage. So many flora colors & different plants feels like a desert oasis. Bring your toys & horses & enjoy the temperature-controlled man cave/shop/extra garage, 2-stall mare motel w/ good sized arena. Lots of room to give you extra privacy & room to add more features. Relax on the patio & enjoy the peacefulness of the desert, watch the sunrise over Four Peaks & take a dip in the gated pebble tec pool w/ waterfall for that unmatched AZ experience. Great open kitchen w/ plenty of room for the chef to entertain guests. Generous cabinets/countertop space & eat-in kitchen along w/ a nicely sized formal dining space. A final bonus: a timed-irrigation raised bed layout for that gardener who.... loves home-grown vegetables & flowers. If you're looking for a spacious desert retreat that's also very quiet & private, this one is a must-see.

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4710 N 65th Street Scottsdale, AZ 85251

New

$1,285,000

2 Beds

2 Baths

1,630 SqFt

Status Active

MLS # 6788121

Property Type Single Family Residence

Price Type --

This is a gorgeous 2 BR/2 BA luxury Villa in Phoenician East. Located on the Phoenician golf course, you'll enjoy spectacular views of the renowned Camelback Mountain. The residence features soaring 12' ceilings, fireplace, large back patio with gate to the golf course. The two master suites have their own bathrooms and large walk-in closets. The kitchen features upgraded Jenn Air Appliances. This is a perfect home for enjoying a lock and leave life. This ideal ultra convenient location is near world class shopping at Scottsdale Fashion Square. Plus, dozens of dining options from fine dining to casual dining spots within a 2 mile radius.

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30407 N 54th Street Cave Creek, AZ 85331

$1,285,000

5 Beds

3.5 Baths

3,884 SqFt

Status Active

MLS # 6686219

Property Type Single Family Residence

Price Type --

This luxury Toll Brothers home in the highly sought after gated community of Montevista in Cave Creek is just a short walk from the community park, with sport courts and a children's playground! An exquisite 5 bdrm, 3.5 bath residence with professionally designed landscaping, Travertine pathways & a grand courtyard entry! The turreted entry opens to the formal dining room & large media room with a 135-inch movie screen. The core of the home lies in the spacious great room which provides gorgeous backyard views and ample space for all social gatherings. The chef's kitchen is warm and welcoming and features stainless steel appliances, granite counters, dining area, breakfast bar, and a convenient desk area for studying or office work. The split primary suite is located downstairs and is a retreat that boasts soft carpet, a lavish ensuite w/dual vanities, large 6-ft soaking tub, oversized shower, and a spacious walk-in closet. Two additional bedrooms are also downstairs, currently being used as offices, and share an updated Jack-and-Jill bathroom. That's not all! There are two more bedrooms and another updated bathroom upstairs, with a cozy loft area. That backyard oasis is a dream, featuring a refreshing 8-ft deep Pebble Tec pool with water feature, paved covered patio and low maintenance landscaping, including mature citrus trees! Close to highly rated Cave Creek schools and short drive to shopping/dining in Old Town Cave Creek and Carefree to the north and Desert Ridge Marketplace to the south.

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22752 S 226th Place Queen Creek, AZ 85142

$1,285,000

4 Beds

2.5 Baths

4,225 SqFt

Status Active

MLS # 6733802

Property Type Single Family Residence

Price Type --

Elegance Meets Opulence: A Must-See Gem! Step into the epitome of luxury living with this architectural marvel. Beyond being a house, it's a sanctuary promising an elevated lifestyle filled with comfort and convenience. Here are some standout features: Designed Landscaping: Meticulously landscaped surroundings set the tone for opulence. Natural-Stone Covered Backyard Patio: Entertain or unwind in your private oasis. Big Pool with Water Features: Dive into crystal-clear waters with enchanting water features. Gazebo with Outdoor Furniture: Relax in the shade, surrounded by elegant outdoor furniture. Whole-House Six-Zone Audio System: Rich music flows seamlessly throughout. 13kW Tesla Solar System with Four Power Walls: Sustainable energy backup keeps you powered. 3-Car Air-Conditioned Garage with Level 2 Tesla EV Charger: Ideal for car enthusiasts. 16-Camera Video Security System: Comprehensive security for peace of mind. Home Security Alarm System: Ensures safety for you and your loved ones. Fireplace: Cozy up by the warm glow, unmatched in comfort. This masterpiece caters to every aspect of modern living.

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36460 N Secret Garden Path San Tan Valley, AZ 85140

$1,285,000

3 Beds

3.5 Baths

2,658 SqFt

Status Active Under Contract

MLS # 6705640

Property Type Single Family Residence

Price Type --

Rare and very desirable Cordoba floor plan with 3 bedroom suites plus powder room, separate office AND a gorgeous golf course lot! Light and bright open great room concept with views of the 6th tee! Enter through custom iron front door into this beautiful home, with light wood floors in the main rooms, shutters , and cozy fireplace for those chilly Arizona winters! The dream kitchen offers B/I Monogram appliances, with elec cooktop that could easily convert to gas and huge W/I pantry!! Light stone counters with subway tile and light cabinets make this home a canvas to add your own color accents and style! The main bath has double sinks, a walk in shower, separate oval tub and large walk in closet. Location, view and floor plan make this one all the best of the Encanterra lifestyle!

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15772 E Tumbleweed Drive Fountain Hills, AZ 85268

$1,280,000

5 Beds

3.5 Baths

3,000 SqFt

Status Active

MLS # 6767181

Property Type Single Family Residence

Price Type --

Stunning Mountain Views!! This incredible single level 5 bedroom, 3.5 bath redesigned home is truly one of a kind. Its a perfect split floor plan and checks off all the major boxes. Plenty of natural light. This professionally designed home will give you the feeling you are walking into a magazine cover vacation home. A perfect blend and use of textures. The kitchen features a large custom blue island topped with a stunning brushed natural stone top that changes coloring in the light. It also boasts two sinks for those busy chef days. The back white shaker cabinets offer over sized 42'' uppers , soft close hardware and set above a stunning marble full back splash. All new stainless appliances with the always desired pot filler above the cooktop. The bar prep area makes its own statement. Features include a built in microwave drawer as well a custom cabinetry, wall paper and lighting. The main living space is centered on a floor to ceiling fireplace, luxury vinyl plank flooring and a wall to wall custom beam with one of the largest ceiling fans you will ever see. Primary suite is massive and features a real working fireplace and its own separate sitting room that could also be used as a private office or den. The primary bath suite is a European style wet room. Large walk in shower, soaking tub, floating vanity and a LED mirror all conveniently located next to the large walk in closet. Each of the other 3 bathrooms are individualized so that they make their own statement. One of the bedrooms even has a fun loft. Great chill space to read a book. The garage is an oversized 3 car design with a ton of room for extra storage. The laundry has a large amount of storage with its custom cabinetry. Exterior notes- there is a pool designed for the home with a pool contractor ready to build if so desired. The home was professionally painted, a brand new paver driveway and walkway were just added, new custom garage doors , lighting, reclaimed wood ceiling, all new rock hardscape, waterless plant design, a built in BBQ eat in area, fire pit and plenty of room to add more outdoor entertainment. You will not find another home as unique and amazingly functional as this one. No HOA

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5830 E Sierra Sunset Trail Cave Creek, AZ 85331

$1,280,000

4 Beds

3 Baths

3,036 SqFt

Status Active Under Contract

MLS # 6712582

Property Type Single Family Residence

Price Type --

Stunning Torrey Pines model in beautiful Lone Mountain is nicely upgraded throughout with custom finishes. Designed for views & privacy, the backyard opens to a lush wash & Black Mtn views featuring a spacious travertine paver patio, sparkling pool w/water falls, built in BBQ, and artificial turf. The interior features tile plank floors & timeless neutral tile in the main living areas, new carpet in the bedrooms, shutters throughout, & custom cabinets in the family room. The open kitchen features GE Monogram stainless appliances, including a 48'' gas range w/griddle, granite countertops, beverage fridge at the large island & dining nook. The formal dining & living room offer ample entertaining space that flows to the large shaded patio. The master is split from the 3 BR/2 BA guest wing.

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7813 N Via Del Sol -- Scottsdale, AZ 85258

Open House

$1,280,000

2 Beds

2 Baths

2,229 SqFt

Status Active

MLS # 6729199

Property Type Single Family Residence

Price Type --

This private retreat in the heart of McCormick Ranch that was voted ''Best Home on Tour'' really delivers.You will not want to miss the opportunity to see why this home won and how you can win with it too. Location & Style with amazing upgrades makes this beautifully maintained home capture your heart. The 3rd bedroom was converted to the new primary closet (it can always be undone if a 3rd bdrm is needed). Outdoor living with new Bullfrog spa, sparkling pool, built in BBQ, patios from primary & Family room, retractable awning and mature trees has loads of character and class. Office/den area can easily be used as a 3rd bedroom also. This can easily be your forever home or a Great Investment property. Come fall in love! Motivated Sellers

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