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

16217 W Skinner Road Surprise, AZ 85387

$1,150,000

4 Beds

3.5 Baths

3,300 SqFt

Status Active

MLS # 6778102

Property Type Single Family Residence

Price Type --

Stunning custom home on over 2 acres of usable land, including a sparkling pool and private guest house with income potential! The homes interior features high-end finishes throughout! The kitchen features a custom copper sink and hand crafted custom cabinets. All bathroom's feature custom floor to ceiling tile. The grounds have been expertly landscaped including several large fruit bearing trees. There is room to build horse stalls and pen, a workshop, rv garage or another home! The possibilities on this property are truly limitless! You'll also find a casita with separate access, ideal for visiting loved ones or as a rental opportunity. Enjoy outdoor moments in the resort-style backyard, offering a covered patio, a lovely gazebo, pristine artificial turf, and a refreshing pool for cooling down on hot days. This gem will sell fast! Act now!

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8020 E Mclellan Boulevard Scottsdale, AZ 85250

$1,150,000

4 Beds

2.5 Baths

2,691 SqFt

Status Active

MLS # 6780122

Property Type Single Family Residence

Price Type --

Nestled in a prime central Scottsdale location, this charming family home offers a beautifully landscaped yard with lush grass, shade trees, and roses in both the front and back. A favorite layout in Hayden Estates, this home stands out with a spacious bonus room that most others lack. Highlights include a cozy red brick fireplace, stylish wood tile flooring, granite countertops, updated appliances, a view deck, and a first-floor master suite with a remodeled walk-in shower. The private backyard features a lovely pool, along with inviting seating and dining areas. The bonus room, perfect as an office or extra bedroom, overlooks the pool and has a separate backyard exit.

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8502 E Cave Creek Road Unit 39 Carefree, AZ 85377

$1,150,000

2 Beds

2 Baths

1,903 SqFt

Status Active

MLS # 6779829

Property Type Townhouse

Price Type --

REMODELED TO PERFECTION! HIGH END FINISHES ; TIMELESS ARCHITECTURE ~ THIS IS AN EXTREMELY UNIQUE TOWNHOME IN GATED SKYRANCH COMMUNITY! IT IS ALL ONE LEVEL! 2 BD/2BA/2CG - 1900 SFT~ ON LG VIEW LOT!SOARING CEILINGS! TONS OF NATURAL LIGHT! CLERESTORY WINDOWS! OUTSTANDING GREATRM W/STACKED STONE ;GAS FIREPLACE!GORGEOUS VIEWS!! LG PRIMARY W/LG WALKIN SHOWER;DOUBLE SINKS;2 LED MIRRORS;CUSTOM CLOSET. GORGEOUS VIEWS! LOVELY GUEST BR W/PATIO; HALL BATH W/SHOWER.KITCHEN W/BOSCH STAINLESS APPLIANCES; GAS COOKTOP!QUARTZ COUNTERS;ALDER CABINETRY!CUSTOM LIGHTING; CEILING FANS & PORCELAIN WOOD PLANK FLOORS THROUGHOUT. MATURE DESERT LANDSCAPING~ 3 INVITING PATIOS, PERFECT FOR ENTERTAINING !ONE XTRA LG~ W/PAVERS & MNT VIEWS. COMMUNITY OFFERS HEATED POOL/SPA; DOG PARK;TENNIS COURTS .

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3659 E Louise Drive Phoenix, AZ 85050

$1,150,000

5 Beds

4 Baths

4,354 SqFt

Status Active

MLS # 6780864

Property Type Single Family Residence

Price Type --

Discover an incredible value in the highly sought-after N/E Phoenix community of Aviano at Desert Ridge! This upscale, master-planned community offers an unbeatable lifestyle & prime location with quick access to major freeways, top-rated schools, Scottsdale, airports, parks & recreation. Inside, enjoy expansive living spaces perfect for a multi-generational family, with a convenient main-floor bedroom & bath, plus four more bedrooms & three full baths upstairs. Stroll across the street to one of the many parks or take advantage of the world-class community center amenities. Built by Toll Brothers, this home showcases quality, upgraded finishes & has been lightly lived in & impeccably maintained. Don't miss the chance to explore all the premium upgrades in this beautiful spec home!

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11270 E Quarry Trail Scottsdale, AZ 85262

$1,150,000

4 Beds

3 Baths

2,938 SqFt

Status Active

MLS # 6780269

Property Type Single Family Residence

Price Type --

Looking for a new home? You've found it! This beautiful 4 bed, 3 bath residence in Troon Verde sits on a quiet cul-de-sac lot & features tasteful tone accents, split 4 car garage w/a stair lift, a low-care desert landscape, and a welcoming front porch. Inside you will find a spacious dining & living area perfect for entertaining. Soft carpet in all the right places, high ceilings, plantation shutters, and warm palette throughout. Continue into the cozy family room, boasting a fireplace to keep you warm during the coming winter months. The chef's kitchen is comprised of wood cabinetry w/crown moulding, a pantry, granite counters, built-in appliances, a prep island w/a breakfast bar, and a breakfast nook. Relax & unwind in the primary bedroom, showcasing private outdoor access, a walk-in closet, and a lavish ensuite w/dual vanities. Lastly, the lovely backyard includes a covered patio, flagstone seating area, a built-in BBQ, and a view fence! Don't wait any longer, act now!

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15524 E Windstone Trail Scottsdale, AZ 85262

$1,150,000

4 Beds

2.5 Baths

2,723 SqFt

Status Active Under Contract

MLS # 6760018

Property Type Single Family Residence

Price Type --

Stunning Scottsdale Luxury Home with spectacular views of Four Peaks and Weavers Needle. This 4-bedroom 2.5 bath and a gym has an open concept living area with 14' ceilings filled with natural light. Gourmet kitchen equipped with high-end appliances, granite counters, ample cabinet/counter space and huge island. Separate 220 sq ft home gym with its own mini split. Luxurious primary suite with separate exit to pool area and ensuite bath: standalone tub, large entry shower and double sinks. All bedrooms have walk-in closets and 12' ceilings. Laundry room is accessible though master closet and hallway. Enjoy entertaining in your own outdoor oasis: outdoor kitchen, expansive patio and pool area with travertine pavers great for lounging and taking in the views of the surrounding mountain Take a dip into your pool or enjoy the sunset in the heated spa. Afterward gather around the gas firepit for unforgettable evenings under the stars. Front and backyard are magically lit up at night. RV garage has 12'X14' door and is 34.3 feet deep. There is a 400 amp meter on the east side of the home and a 200 amp meter on the west side with a 50 amp RV hook up which can be used as an EV charger as well. Horses are allowed - 2 per acre as per Maricopa County. NO HOA! Extremely energy efficient: spray foam insulation and 2x6 construction. Paver driveway and front patio. Smart home. SO MUCH MORE! This home is the perfect retreat, combining luxury living with stunning natural beauty. Don't miss your chance to own a piece of paradise in Scottsdale.

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2835 W Creek Canyon Road Phoenix, AZ 85086

$1,150,000

4 Beds

3.5 Baths

3,328 SqFt

Status Active Under Contract

MLS # 6761620

Property Type Single Family Residence

Price Type --

**Discover this Elegant Territorial Home with Breathtaking Mountain Views**Experience resort-style living in this stunning home, featuring a backyard oasis complete with a sparkling pool, raised jacuzzi, tumbled stone decking, built-in barbecue, and a flagstone firepit. As you enter, you'll be greeted by soaring ceilings and a circular family room that centers around a striking stacked stone fireplace and custom decor shelves, all while showcasing views of your private paradise. The wet bar is perfect for entertaining guests.The gourmet kitchen boasts top-of-the-line cabinetry, a Wolf 6-burner gas cooktop, Viking wall ovens, a spacious raised island with seating, a large pantry, and upgraded granite countertops. Retreat to the master suite, which includes a cozy fireplace, a jetted garden tub, a luxurious stone snail shower, double vanities, and a custom closet. There is additional space off the master could be sitting area or home office. One additional bedroom is en-suite, while two others share a convenient Jack and Jill bath. Each secondary bedroom has its own wing and walk-in closet, ensuring privacy and comfort for all. Custom features, including ornate wet bar cabinetry, a stacked stone media wall, vega poles, central vacuum, and beautiful windows, elevate this home above the rest. The backyard fireplace, crafted from stacked stone, includes a built-in seating area, making it the ideal spot for relaxation. Set on a generous acre lot, this home offers both privacy and views. The paver driveway leads to a spacious 4-car garage. Immaculately maintained, this property is a true gem waiting for you to make it home.

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8126 E Redwing Road Scottsdale, AZ 85250

$1,150,000

3 Beds

2 Baths

2,185 SqFt

Status Active Under Contract

MLS # 6770558

Property Type Single Family Residence

Price Type --

Welcome to Redwing! This charming 3-bedroom, 2-bathroom home sits on a coveted corner lot in a quiet Scottsdale cul-de-sac. The open floor plan offers an easy flow between the living, dining, and kitchen areas—perfect for daily living or entertaining. The split floor plan and flex space off of the primary bedroom allows for privacy and flexibility to create a home office. Outside, the spacious backyard is the perfect space to host gatherings or simply relax. The attached bonus room with a private entrance can serve as guest quarters, a home office, gym, or creative studio. The outdoor shower adds convenience after a sunny day, and the rooftop patio offers stunning views and Arizona sunsets. Located near the 101 freeway, shopping, and spring training venues, this home is in the Scottsdale Unified School District, with access to top-rated charter and private schools. Plus, there's no HOA in this charming neighborhood!

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6281 W Post Road Chandler, AZ 85226

$1,150,000

5 Beds

3 Baths

3,005 SqFt

Status Active Under Contract

MLS # 6768539

Property Type Single Family Residence

Price Type --

Stunning entire home renovation!! This beautiful Ray Ranch Estates home has been meticulously renovated with gorgeous organic modern finishes from top to bottom not missing a single detail. Step inside to find a spacious single story open concept layout, soaring 15 foot ceilings, plantation shutters, HUGE kitchen, and gorgeous floor to ceiling fireplace finished in ultra smooth stucco. Upon entry to the home you will notice the beautiful white oak hardwood floors in a herringbone pattern in the foyer, to your left a large office and across the way is a formal living room with beautiful lighting. You will notice European white oak floors throughout the entire home with modern tile in the walk-in pantry, laundry room and all the bathrooms. The huge kitchen has it all, including a large induction cooktop, convection wall oven, walk in pantry with beverage fridge, huge 6'x9' island, coffee bar and tons of cabinet space. This home has a split floorpan with 4 bedrooms, 1 full bath and 1/2 bath in the kids wing. The other side of the home features the primary bedroom with full bath and spacious walk-in closet. This corner lot home has a 3 car garage with epoxy floors and an RV gate with ample parking space. The house sits on a large lot with a spacious, grassy back yard full of shade tree's with plenty of privacy and a beautifully re- finished pebble-tec pool. Come see this stunning home in a prime location with top rated schools and shopping!

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2628 W Shinnecock Way Anthem, AZ 85086

$1,150,000

3 Beds

2.5 Baths

3,443 SqFt

Status Active Under Contract

MLS # 6769067

Property Type Single Family Residence

Price Type --

VIEWS FOR MILES! You will be greeted by a large, picturesque window with magnificent panoramic views and lots of natural light. Primary bedroom has 2 large walk-in closets and patio access which will allow you to enjoy brilliant sunsets and starry night skies. Well-appointed kitchen with 6 burner gas stove, double ovens with a warming drawer, stainless appliances and beautiful granite. The backyard features an infinity pool, built in BBQ, eat at bar and large space for socializing under the oversized patio or relaxing poolside. Oversized laundry with lots of storage. 3 car extended length garage with built in cabinets. This single story home is nestled in a gated golf course community. Numerous amenities and highly regarded school district make this a must see!

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13626 N Tan Tara Point Sun City, AZ 85351

New

$1,150,000

5 Beds

6 Baths

3,693 SqFt

Status Active

MLS # 6776575

Property Type Single Family Residence

Price Type --

BEAUTIFUL UPDATED LAKEFRONT HOME, PRIVATE HEATED POOL, PAID FOR SOLAR SYSTEM, NEW BOAT DOCK, 3 NEW AC HEAT PUMPS WITH 10 YEAR WARRANTY, NEW KITCHEN AND 6 BATHS, ROLL SHUTTERS ON MOST WINDOWS, ALL FLOORS ARE HIGH GRADE MARBLE LOOK PORCELAIN NO CARPET, QUITE SAFE CUL-DE-SAC-LOT,2 CARGARAGE WITH STORAGE, FRESH PAINT, SKY LIGHTS, SUNSET VIEWS, THE LAKE IS CRYSTAL CLEAR AFTER UNDERGOING AN EXTENSIVE UPDATE.

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12325 N Henrys Way Prescott, AZ 86305

$1,150,000

4 Beds

3 Baths

2,536 SqFt

Status Active

MLS # 6554719

Property Type Single Family Residence

Price Type --

We plan to build this Gorgeous 2536 Square Foot Home, w/3Bedrooms, 2.5Bathrooms/ 3CarGarage + Den on 4 ACRES +/- in Williamson Valley Heights. Home will have Stacked Stone Accents, Open/Split Floor Plan, GREAT ROOM Concept, Vaulted Ceilings, Luxury Vinyl Wood Planked Flooring, & Upgraded Lighting. Kitchen will be well appointed Knotty Alder Cabinetry, GRANITE Countertops, Island, Stainless Steel Appliances, Pantry, & under cupboard lighting. Master is Spacious, has dual Sinks, Jetted Garden Tub, Large Shower, & Large Walk in Closet. Additional Features include large Laundry Room adjacent to Master Bedroom, will include Paver Driveway/Walkway, Large Covered Patio & can include Detached RV Garage with plenty of room with a slight price adjustment. Completion Date is estimated at 12 months from Contract Acceptance !!! Photos are of a Previous Home we built but the VIEWS are the Real Thing from the actual lot!!!!! Build to Suit - Images are a sample of possible construction. Taxes listed are for vacant land only. Sale includes parcel numbers 306-35-298 & 306-35-256X.

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