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

2327 N Beverly Place Buckeye, AZ 85396

$1,100,000

5 Beds

3.5 Baths

4,329 SqFt

Status Active

MLS # 6777767

Property Type Single Family Residence

Price Type --

BEAUTIFUL HOME ON THE WASH WITH FABULOUS SUNRISE, MOUNTAIN AND CITY VIEWS!! This stunning home's Kitchen includes quartz countertops, backsplash, beautiful hardware, an upgraded Monogram gas stove, and a huge pantry. The living room and covered back porch have an electric fireplace to keep you warm. This home is spray foam insulated with energy efficient windows throughout. Beautiful wood look tile and brand new carpet! Master suite on first level has separate shower, jetted tub, and huge walk in closet. There is a bonus/6th bedroom upstairs along w/ a game room. Other upgrades include plantation shutters, epoxy garage floors, pool, turf & a view fence to watch the morning sunrise. The owners are VERY clean and have filled this home with love. Take a look at this home of all homes!

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16746 W La Reata Avenue Goodyear, AZ 85395

$1,100,000

2 Beds

2.5 Baths

2,175 SqFt

Status Active

MLS # 6781338

Property Type Single Family Residence

Price Type --

This Nearly NEW home features an amazing backyard with multiple entertaining areas, built-in BBQ, self-cleaning sparkling pool & secluded hot tub, perfect for year round enjoyment! Inside, enjoy an open floor plan with wood-look tile, remote blinds & shutters, a gourmet kitchen with soft-close cabinets & drawers, pull outs in lowers, quartz counters, large island & high-end SS appliances w/vented hood. The spacious primary retreat includes dual sinks & walk-in closet. This home also offers a fully insulated, 2.5-car garage with A/C, chip flooring, overhead storage, utility sink & RV outlet. A flexible den & powder room complete this upgraded home. Easy-care landscaping makes this the perfect retreat! Owned SOLAR to heat pool. This home is truly a dream come true and MOVE-IN ready! This very Active Adult community includes 3-18 hole Golf Courses, 40+ Pickleball & Tennis Courts, State of the Art Fitness Centers, Creative Arts Center, Multiple resort style Pools and Hot Tubs, Theater with live performances, Casual dining, Billiards room, Bocce courts and more. Come take a look!

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11305 S 195th Drive Buckeye, AZ 85326

$1,100,000

4 Beds

2 Baths

2,857 SqFt

Status Active

MLS # 6781143

Property Type Single Family Residence

Price Type --

Craftsmanship Meets+Custom Resort on Acre! This pristine Oasis offer's Quality Craftsmanship everywhere you look! No upgrade was spared, this was the Custom builder model to showcase their options so you can only imagine. When you enter the Great room you will notice the open inviting 12 foot ceilings. Gourmet kitchen with high end granite countertops, stainless steel appliances w/rich solid knotty alder cabinets, Hard wood floors, Custom doors, Travertine floors, Subzero refrigerator, Stainless steel double ovens, a walk in pantry and lots of pull out shelves, gas stove, Primary bath has huge walk-in closets snail shower & extensive tile, built in cabinets, One of the room is used as an office with built in Murphy bed. The backyard is fenced in and private with mountain views from the

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7090 E Morning Vista Lane Scottsdale, AZ 85266

New

$1,100,000

3 Beds

2.5 Baths

2,852 SqFt

Status Active

MLS # 6783619

Property Type Single Family Residence

Price Type --

What a great opportunity to own a property in the saught after Carriage Trails community of Scottsdale! Located on a half-acre (24,705 sqft lot), this home boasts 3 Bedrooms with 2.5 bathrooms and an office/den that could easily be convereted to a 4th bedroom with a built in desk/ bookshelves, a 3-car garage, its very own heated private pool & spa, built-in gas fire pit & grill! This spacious lot holds so many possibilties! The interior showcases lovely original features along with high vaulted ceilings, a split floor plan, a gas fireplace showcasing lovely stonework & a built-in wet bar for entertaining! Well maintained, the 2 HVAC units have been fully replaced recently & the walls contain thick insulation to keep the home cool in the summer! Seller is motivated. Make an offer today!

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13653 E Aloe Vera Drive Scottsdale, AZ 85262

New

$1,100,000

4 Beds

3 Baths

3,025 SqFt

Status Active

MLS # 6783334

Property Type Single Family Residence

Price Type --

(UNDER CONSTRUCTION) New Construction desert home. This new build with NO HOA, MASSIVE open Kitchen & living room with high-end Cabinets, Quartz Countertops, 36'' Cooktop, Built-in Stainless Steel Microwave and double ovens, & upgraded flooring. The upgrades continue with a stunning Master Bathroom with a Freestanding Soaking Tub, Modern Shower and Beautiful Double Vanities, an oversized four car garage, RV Garage, private well and more!!! (pictures useed in this listing are of a previous project and represent what the home may look like).

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22635 N 45th Place Phoenix, AZ 85050

$1,100,000

5 Beds

3.5 Baths

3,196 SqFt

Status Active Under Contract

MLS # 6774400

Property Type Single Family Residence

Price Type --

This stunning home sits on a spacious .24-acre lot and offers the perfect setup for multi-generational living, featuring 2 bedrooms and a full bath on the lower level. Located just blocks away from PVUSD elementary and middle schools, it's an ideal location for families. Surrounded by a pristine natural desert wash, this elegant home provides exceptional privacy from its prime position on an oversized semi-cul-de-sac lot. Step inside the beautiful foyer, where dark wide-plank flooring and muted white walls create a sophisticated ambiance. The gorgeous living room boasts tall windows, plush carpeting, and soaring vaulted ceilings. A chandelier-lit formal dining room adds an extra touch of elegance.The stunning kitchen features an abundance of silver and gray cabinetry, exquisite exquisite countertops, and upscale stainless steel appliances, including a deep farmhouse sink. A casual dining/breakfast room flows seamlessly into the family room, which is anchored by a dramatic luxury wood-framed fireplace, media wall, art-display niches, and twin shutter-trimmed windows. Upstairs, a spacious loft/library area leads to big secondary bedrooms and a romantic primary suite. The primary suite offers a slightly elevated sleeping area, a large sitting room, a luxurious bath, an enormous walk-in closet, and a cocktail balcony overlooking the backyard's alfresco amenities. Outside, enjoy a sparkling freeform pool, sprawling lounge decks, an expansive grassy lawn, a barbecue island, and just the right amount of flowering shrubbery. The home was fully remodeled in 2019, is exceptionally quiet, and shares a fence with only one neighbor for ultimate privacy.

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13144 E Lupine Avenue Scottsdale, AZ 85259

$1,100,000

4 Beds

2.5 Baths

3,076 SqFt

Status Active Under Contract

MLS # 6770249

Property Type Single Family Residence

Price Type --

Nestled in the prestigious North Scottsdale area, this home blends spacious living with thoughtful design complete with breathtaking views of the McDowell Mountains and spacious outdoor area. The elegant design begins with a grand entryway that opens up to an expansive, light-filled floor plan, complete with a generously sized primary suite that exudes comfort and sophistication. Outdoors, the meticulously designed patio is perfect for hosting gatherings or enjoying a quiet evening, featuring a built-in BBQ and large covered patio, perfect for entertaining in style. The seamless indoor-outdoor flow makes this space ideal for both relaxation and socializing. Set in a peaceful, secluded neighborhood, this residence offers the perfect balance of tranquility and convenience. Just a short stroll from beautiful parks and hiking trails, it's the ideal spot for daily walks or outdoor leisure. With a park just down the street and easy access to Rio Montana Park, Lost Dog Wash Trail, and Ancala Country Club, you'll enjoy a lifestyle of both tranquility and convenience. This home captures the best of North Scottsdale livingcomfortable, stylish, and perfectly located.

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16118 E Ridgestone Drive Fountain Hills, AZ 85268

$1,100,000

2 Beds

2.5 Baths

1,915 SqFt

Status Active Under Contract

MLS # 6759444

Property Type Townhouse

Price Type --

Stunning single level home at ''The Overlook'' in prestigious FireRock Country Club. Well-designed open floor plan perfect for entertaining, featuring an elegant great room with splendid mt. views to the rear patio with a 20 foot slider door system. Indoor/outdoor living at its finest with luxury high end design choices. Spacious well-appointed kitchen overlooks the expansive great room and features a massive center island with breakfast bar. Wolf double range and hood and appliances as well as Subzero refrigerator, subway tile backsplash, and a desirable walk-in pantry. An exquisite master bedroom offers abundant light, a large walk-in closet, and marvelous master bath with spacious shower, dual-sink vanity, and beautiful finishes w/ensuite bath. Gorgeous backyard features heated jetted spool, built in BBQ, gas fireplace, TV, and synthetic grass. 12 foot ceilings. Guard gated. No stairs! 2 car garage w/ storage. Beautiful mountain views! Laundry room has sink and cabinets. Hunter Douglas automated window coverings. Solid core doors. Oversized hexagon tiles on the floor in main living room & travertine on the back patio. FireRock Country Club offers social and golf memberships and everything you could ask for and more in a club setting.

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1014 E Country Gables Drive Phoenix, AZ 85022

$1,100,000

5 Beds

4 Baths

4,302 SqFt

Status Active Under Contract

MLS # 6756917

Property Type Single Family Residence

Price Type --

Beautiful dream home in the highly coveted Moon Valley mountainside neighborhood. Rare custom build and features with basement, no HOA, prime location in Phoenix and stunning views! Meticulous owners and over $250k in upgrades (see docs tab). 3 newer AC's, water heater, roof, doors, exterior paint, solid wood floors, and granite countertops throughout, the list is endless. In the back, enjoy your private screened-in porch or backyard oasis where a sparkling pool and spa await, great for entertainment or relaxation. Beautifully landscaped with a brand new drip system and RV gate. The upstairs balcony is also huge and wraps around for incredible views. Short walk to Lookout Mountain trailhead. Watch the drone video tour of this stunning home and majestic community!

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9834 E Adobe Road Mesa, AZ 85207

$1,100,000

4 Beds

3 Baths

3,631 SqFt

Status Active Under Contract

MLS # 6762533

Property Type Single Family Residence

Price Type --

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20872 E Mewes Road Queen Creek, AZ 85142

$1,100,000

4 Beds

2.5 Baths

2,994 SqFt

Status Active Under Contract

MLS # 6772258

Property Type Single Family Residence

Price Type --

Yippee! Welcome to your DREAM Horse Property in the desirable Orchard Ranch community! This Stunning Renovated 4-Bedroom, 2.5 Bath home sits on just shy of an acre. Featuring a Split floor plan, Vaulted Ceilings, a Stone Wet Bar, and a Gorgeous Chef's Delight Kitchen. Warm walls, and Woods combined with a Beautiful Fireplace add a cozy touch to the living space. Enjoy Entertaining outdoors with a Sparkling Pool, Soothing Spa, and a spacious covered patio, also a Ramada featuring a Fantastic Outdoor Kitchen for those summer cookouts! A HUGE 3+ car garage and TWO RV gates, there's plenty of room for all your toys and trucks. The Charming Barn, complete with two stalls, a tack room, and space for your trailers is ideal for the COWBOY/ COWGIRL! It's the Perfect combo of City and Country life!

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9950 E Acacia Drive Scottsdale, AZ 85260

$1,100,000

4 Beds

2.5 Baths

3,374 SqFt

Status Active Under Contract

MLS # 6768439

Property Type Single Family Residence

Price Type --

This Beautiful 5 bedroom home rests in the exclusive gated Tails North at Horseman's Park with 5 bedrooms, 2.5 baths, pool, spa and a 3 car garage on a private lot with no house behind. 4 bedrooms plus a loft are located upstairs close to the laundry room with the 5th bedroom on the main level. The Primary suite has his/her walk-in closets, separate sink & vanities, deep soaking tub, separate shower and a private walk-out balcony with mountain views! The home has additional insulation added to attic resulting in very low electric bills. The Ring doorbell and Swann System video provides extra security. The prime location is close to top-rated Notre Dame Prep and charter schools Archway Scottsdale and Scottsdale Prep & inutes from the 101, WestWorld, the TPC, restaurants and shopping.

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