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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4584 N 192nd Drive Litchfield Park, AZ 85340

$1,050,000 - 5Br/4Ba -  for Sale in No Hoa - 1 Acre Fenced Lot, Litchfield Park
New
$1,050,000
5 Beds
4 Baths
3,525 SqFt
Status Active Under Contract
MLS # 6784385
Property Type Single Family Residence
Price Type --
Public Remarks: BRAND NEW Constructionwith NO HOA! Stunning Modern Farmhouse on a 1 ACRE LOT w/ Horse Privileges. 4 Car Side Entry Garage and GUEST LIVING w/ Separate Entry. Gourmet Kitchen with WOLF APPLIANCES, high-end Cabinets w/ 42'' uppers, White Quartz Countertops, 36'' Cooktop, Built-in Stainless Steel Microwave Drawer and Wood Plank tile Floors. Stunning Master Bathroom with Freestanding Soaking Tub, BEACH ENTRY Modern Glass Shower and Beautiful Double Vanities. Exceptional Energy Efficient - boasting Spray Foam Insulation, Premium Trane 14 seer AC units & High-end Windows. Superior Construction and Craftmanship includes Premium Roofing System, Premium Synthetic Stucco & much more! Close to hiking and horseback riding trails in San Tan Mtns. ESTIMATED COMPLETION DATE April/May.

65xxx N Juans Canyon (fs 1094) Road Cave Creek, AZ 85331

$1,050,000
3 Beds
4 Baths
3,000 SqFt
Status Active
MLS # 6314469
Property Type Single Family Residence
Price Type --
Own a patented GOLD MINING CLAIM with SPECTACULAR VIEWS!! Includes unbelievable mountain top OFF-THE-GRID CUSTOM HOME with covered viewing patio/deck surrounding all sides on over 10 acres in far north Cave Creek. Completely self-sufficient owner-built home with soaring ceilings, open floor plan, lots of counter tops, lots of cabinets, huge island in kitchen open to living/dining area w/large windows to bring in the view. Spacious Master Suite has sitting area, walk-in closet, separate jetted tub/shower. Unique energy-efficient home uses wind & solar with back-up generator for power, propane for gas and hauled water with 10,000 gallon water holding tank. Enjoy peace & quiet. Bring your horses & toys. MUST SEE this Magazine Mining District property adjacent to the Red Rover Mine! Cash Only! Recently remodeled bathrooms, interior paint. Property is behind gated access. There is always a breeze and endless views looking at the Tonto National Forest! No HOA!!

16208 S 35th Avenue Phoenix, AZ 85045

$1,050,000
3 Beds
3.5 Baths
3,132 SqFt
Status Active
MLS # 6782071
Property Type Single Family Residence
Price Type --
Incredible 3-bedroom + DEN home on a desired corner lot! Two-car garage + one sided detached garage for extra parking and paver driveway. Enjoy your morning coffee in the front patio while gazing at your desert landscaping and the lovely mountains. Enter through the custom iron work door to find wood-style flooring, neutral paint, recessed lighting, and a double-door den for an office space. You'll love the formal dining and the large living room boasting pre-wired surround sound and sliding pocket doors that merge the indoor/outdoor activities. Chef's kitchen has a big center island w/breakfast bar, quartz counters, a stylish backsplash, SS appliances including a pot filler, a walk-in pantry, and gorgeous cabinets. The primary bedroom offers an ensuite with a glass enclosure shower, freestanding tub, two vanities, and walk-in closet. The secondary bedrooms also provides walk-in closet and private bathroom! Fantastic mudroom area adjacent to garage access and laundry room. Out the back, relax under the covered patio with paver extended or the green grass while admiring the stunning sunsets. This jewel is a great opportunity!

2667 E Overlook Drive Williams, AZ 86046

$1,050,000
3 Beds
3 Baths
2,431 SqFt
Status Active
MLS # 6777301
Property Type Single Family Residence
Price Type --
Welcome to 2667 E Overlook Dr in Williams, Arizona—your gateway to luxury and adventure. This stunning property, located in the exclusive gated community of Cedar Mountain Heights, offers over 2,600 square feet of luxury country living on 6 acres of high desert chaparral. It's the perfect retreat for families looking for a vacation home or for an investor seeking a lucrative VRBO opportunity after waiting period is satisfied. Situated just 50 miles south of the Grand Canyon, 15 miles from Route 66 and Bearizona, 42 miles to Flagstaff, and 70 miles to Sedona, this property serves as an ideal base for exploring Northern Arizona's most iconic destinations. The area is famous for its exceptional stargazing—imagine the entire Milky Way during new moons— and offers endless outdoor activities, including camping, off-roading, and exploring ancient native ruins. The home itself is a masterpiece of design and comfort, featuring hand-scraped solid hardwood floors, vaulted 16-foot ceilings, and a harmonious blend of modern amenities with reclaimed rustic accents. The fully equipped entertainment kitchen, complete with stainless steel appliances, granite countertops, and plenty of counter space, is perfect for hosting large gatherings. There are four spacious bedrooms, including a 300-square-foot master suite that boasts a cozy wood-burning fireplace, a luxurious spa tub, and direct access to the expansive wrap-around deck with breathtaking views of the western horizon. A 500-square-foot private studio suite above the garage comes with its own kitchenette, offering additional privacy and convenience. The living room, master bedroom, and second bedroom all open onto the deck and the stunning views of the vast landscapes stretching to the horizon. Outside, you'll find incredible spaces for entertaining and relaxation, including a large circular flagstone patio with a generous fire pit, perfect for gatherings and stargazing. The property is adorned with beautiful juniper trees and offers stunning views of wind farms, desert landscapes, and the Coconino National Forest, which is just a short walk away and features numerous trails to explore. Cedar Mountain Heights, an exclusive gated community with under 30 parcels, provides a serene, rural lifestyle at an elevation of 6,500+ feet. Residents enjoy clean air, moderate summers, crisp white winters, and the chance to observe a diverse range of wildlife, including elk, deer, mountain lions, and hummingbirds. The HOA ensures that the road is maintained year-round, including snow removal during the winter months, making the property accessible throughout the year. Currently operating as a successful VRBO, this property presents a fantastic investment opportunity with a proven rental history. Potential buyers interested in continuing the short-term rental model can inquire for more details on rental regulations and income potential. Additionally, the property offers room for customization with an unfinished basement that has been pre-designed for a movie theater space, ready for your personal touch. The sturdy construction, featuring 2x6 walls, also provides ample storage space and possibilities for future expansion. Utilities for the home include hauled water, propane for heating, electric service provided by Arizona Public Service, and a conventional septic system. The HOA takes care of road maintenance, ensuring easy access year-round, including during snowy winters. 2667 E Overlook Dr is more than just a house it's a lifestyle. Whether you're seeking a peaceful family getaway, an adventure-filled base for exploring Northern Arizona, or a profitable investment property, this home offers it all. Don't miss the opportunity to own this exceptional property in the heart of the great high desert of Northern Arizona.

1235 E Hohokam Lane New River, AZ 85087

$1,050,000
5 Beds
3 Baths
2,843 SqFt
Status Active
MLS # 6775777
Property Type Single Family Residence
Price Type --
Come see your dream home, desirable Circle Mountain, New River, brand new custom home on over 1.2 acre lot with no HOA, completed and ready to move-in. Stunning mountain views, S/N exposure, front yard landscaping, level usable land, no flood zone. Split floor plan with spacious kitchen open to great room 12 ft ceilings, large kitchen island, 4 bedrooms+den, 3 baths, extended 4 car garage 29 ft deep. Highly upgraded with luxury vinyl flooring t/o, Custom Rift Oak skinny rail cabinets, Quartz countertops, farm sink, GE stainless steel appliances including fridge, 10 ft wrought iron front door, electric fireplace with tile finish wall in great room. Master suite with separate exit to back patio, double sinks, large tiled shower, jetted tub, large walk-in closet. Large covered patio... Private location with stunning mountain views, in area of all custom homes, patios finished with pavers. Laundry room and garage utility sinks, electric water heater with recirculating pump, water softener, 2 Trane HVACs. Window blinds, ceiling fans... Oversized 1296 sf 4 car garage, 29 ft deep , garage epoxy... Lot coverage 25%, additional 5,000 sf can be build on this lot, RV garage, guest house, workshop...

5754 N Scottsdale Road Paradise Valley, AZ 85253

$1,050,000
3 Beds
2 Baths
1,666 SqFt
Status Active
MLS # 6763886
Property Type Townhouse
Price Type --
Transform your lifestyle in this stunningly updated 3-bedroom, 2-bath home nestled within the exclusive Villa Del Oro community, offering breathtaking views of Camelback Mountain and modern elegance combined with unparalleled comfort. Contemporary features include newly painted, recessed lighting (dimmer switches), automatic Somfy window coverings on all windows, new sliders, new garage door/opener, renovated primary bathroom with steam shower feature and herringbone title, new electrical panel and tankless hot water heater, new SS kitchen appliances along with RO filtration system for entire house. Besides the new staircase banister, the upstairs patio has been redesigned to take advantage of Camelback views. Private rear yard space has been reformed with built in gas BBQ, outdoor .. shower/drain, gas fire pit and artificial turf - perfect for entertaining. Community features include a newly updated community center, fitness center, firepit, dry sauna, and newly paved heated pool/spa. Home has been remodeled with the epitome of modernism and function in mind. Come see this serene retreat for yourself. The perfect lock and leave!

11714 N 134th Street Scottsdale, AZ 85259

$1,050,000
2 Beds
2.5 Baths
2,273 SqFt
Status Active
MLS # 6759394
Property Type Single Family Residence
Price Type --
Discover unparalleled luxury in this stunning East Scottsdale home, nestled within a gated enclave of only 20 residences. Situated on a private cul-de-sac lot, this home offers breathtaking city and mountain views. Enjoy exceptional privacy with a gorgeous private pool and carefree outdoor space, creating a perfect oasis for relaxation and entertainment. Inside, expansive rooms boast high ceilings and large windows, filling the space with natural light. The gourmet kitchen is equipped with top-of-the-line appliances, ideal for culinary enthusiasts. The luxurious master suite features a spa-like bathroom and a private patio to take in the breathtaking Sonoran Desert! Located just 2 minutes from the MAYO CLINIC, this home is a rare gem offering elegance, fantastic views and convenience!

2329 E Carlise Road Phoenix, AZ 85086

$1,050,000
4 Beds
3 Baths
2,987 SqFt
Status Active
MLS # 6761761
Property Type Single Family Residence
Price Type --
Located in Desert Hills, this spacious single story 4 bed/3 bath home with city water is located on 1 acre plus full of privacy. Enjoy the wildlife and your daily staycation with your very own private heated pool/spa, huge travertine patio, built-in grill, large turf area, and sport court. Gorgeous sunrises and sunsets! Spacious open living room with wet bar. Private access to backyard from master bedroom and guest suite. Tile and travertine flooring throughout home. 4-stall garage provides a vast amount of storage space. Located on private road. New AC units, new water heater, new fridge and new south facing picture windows through Renewal by Anderson all installed in 2023. Roof sealed and exterior painted in 2024.

36885 N Stoneware Drive Queen Creek, AZ 85140

$1,050,000
2 Beds
2.5 Baths
2,124 SqFt
Status Active
MLS # 6772725
Property Type Single Family Residence
Price Type --
This charming house offers approximately 2,124 square feet of living space. It features two bedrooms and two and a half bathrooms. The home boasts a scenic landscape, with a golf course view of Encanterra Country Club's 15th green. The backyard showcases an inviting heated pool, lush landscaping, covered patio and pergola, creating an incredible outdoor living area. The stunning sunrise views from the property are truly captivating. The interior of the home is equally impressive, with an abundance of architectural charm and an inviting entryway. The primary bedroom and additional bedroom are generously sized, and the primary bathroom features elegant tile work and ample counter space. The home's layout is spacious and open, allowing for an abundance of natural light to fill the living spaces. The gourmet kitchen is equipped with granite countertops and high-end appliances, providing an ideal setting for culinary endeavors. The expansive windows throughout the home offer scenic outdoor views, seamlessly integrating the indoor and outdoor living spaces. Additional features of the property include a Murphy-style bed, a golf cart garage, garage storage, an east-facing backyard, gas fire pit, built-in stainless steel gas grill, and a gourmet kitchen. Since the owners are golf members, you will move to the front of the wait list if you are interested in joining the club as a golf member.

3402 E Crest Lane Phoenix, AZ 85050

$1,050,000
3 Beds
2.5 Baths
2,691 SqFt
Status Active
MLS # 6775185
Property Type Single Family Residence
Price Type --
Stunning sky Crossing Taylor Morrison home with the ideal lot location. Enter through the 8 foot iron door into an grand entryway with soaring ceilings to the loft. Entry includes a half bath adjacent to Office/den perfect for work from home. Great room floor plan high ceilings and loads of windows making it light and bright. Gourmet kitchen includes gas cooking, a grand island, stainless steel appliances, loads of extra cabinets with 42'' uppers, custom lighting and a butler nook. Large primary bedroom with black out shades, large bathroom with designer tile floors and a large walk-in closet. Private backyard with no direct neighbor to the north or west, pebble tech pool with Baja step, Travertine patio and a putting green with low maintenance turf. High-end SS appliances, including a gas cooktop and wall oven, elevate the kitchen's functionality and design. A versatile den offers the perfect space for a home office, while a cozy loft upstairs for a reading nook. The grand primary suite is a true retreat, complete with plush carpeting, a pristine ensuite featuring dual sinks, and a walk-in closet. The entertainer's backyard comes with a covered patio, a putting green for golf enthusiasts, and a crystal clear pool to enjoy sunny days. HURRY! This gem will not disappoint!

12707 W Missouri Avenue Litchfield Park, AZ 85340

$1,050,000 - 4Br/4Ba -  for Sale in Litchfield Vista Views 3b Corrective Plat, Litchfield Park
New
$1,050,000
4 Beds
3.5 Baths
3,732 SqFt
Status Active
MLS # 6781620
Property Type Single Family Residence
Price Type --
Discover luxury and exceptional craftsmanship in this expansive custom-built home on over 2/3 acre, thoughtfully designed with premium finishes and meticulous attention to detail. Enter a warm, inviting space featuring a cozy family room, formal dining area, and a game room with a custom wet bar—complete with sink, filtered water, wine storage, and built-in fridge. The bright, open kitchen is a chef's dream, boasting a Thermador gas stove and ample space—ideal for hosting or everyday gourmet cooking. The split-floor layout provides a private master suite, where you'll enjoy a spacious snail shower, a relaxing Jacuzzi tub, double vanities, and two walk-in closets. Additional bedrooms include a full en-suite and a Jack-and-Jill bath with abundant closet space. The backyard is designed for entertaining, featuring a diving pool, adjacent spa, built-in BBQ, and a fire pit. A spiral staircase leads to a 360-degree viewing deck with breathtaking mountain views. The property also includes a three-car garage, a 24x40 detached RV garage with a convenient half bath, additional RV parking with a sewer hookup, and a captivating 250-gallon aquarium. This home truly has it all, offering an extraordinary lifestyle in a spectacular setting.

2036 E Catamaran Drive Gilbert, AZ 85234

$1,050,000
4 Beds
4 Baths
3,300 SqFt
Status Active
MLS # 6777142
Property Type Single Family Residence
Price Type --
Amazing Custom Lakefront home in the popular gated community of The Regatta. Over $50k in recent updates: new flooring throughout, new paint inside & out and refinished cabinets throughout. 4 Bedrooms plus 4 Baths! Owner's Suite is upstairs w/adjacent loft/gameroom and includes a fireplace in the owner's suite plus large balcony off of owner's suite. 3 bedrooms on the main level - each has a full bath! Open vaulted plan w/fireplaces in formal living/dining rooms and in the family room that is also open to kitchen & breakfast bar. Val Vista Lakes has churches, elem school, softball field, soccer fields, basketball court, playgrounds, gardens, walking paths, swimming pools, lakes, tennis & pickleball courts, plus a beautiful clubhouse with multiple rooms to host a variety of gatherings

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