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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11409 N Braidwood Trail Casa Grande, AZ 85194

$1,050,000

3 Beds

2.5 Baths

3,187 SqFt

Status Active

MLS # 6773567

Property Type Single Family Residence

Price Type --

2.5 acres & huge RV Garage! Unparalleled grandeur blends functionality with elevated luxury & comfort in this one-of-a-kind home with Rastra Block, dramatic 12-18' high Viga beam ceilings,Venetian plaster fireplace,7 solar tubes,newer 15+SEER A/Cs, travertine tile, central vac, 8' knotty alder doors, exits in every room, speakers in/out/front/back & resort-like owner's suite. The sophisticated kitchen has cherry cabinets, luxurious granite, copper farm & prep sink, walk-in pantry, Gourmet Wolf gas range & pot filler, Bosch double ovens, warmer drawer & raised Bosch dishwasher. A breathtaking backdrop of nature showcases a solar heated pool & 20' x 26' ramada w/ built in bbq kitchen. The extended, over-height, 3 car garage has 220, an EV charge station & is reinforced for a view deck or maybe extra living quarters. The RV garage has 50/30/20/15 amp service, shelving, workbench and LED lighting. $9,000 brick walkway around 300 sqft synthetic lawn. Propane tank serves the Wolf gas range, fireplace and water heater. Features to help lower homeowner's insurance are close proximity to a fire hydrant, security system with cameras, french drains to redirect excess rainwater and the most impressive exterior Rastra block. The Rastra block is insulated with fire retardant foam and the 2x6 interior walls are insulated with batting for sound-proofing. Rastra block is not only fire, water, pest and mold resistant, it's energy efficient and provides superior indoor air quality. Whole exterior painted in 2021. Fortunately, this home is within a short drive from Nikola, Lucid Motors and Attesa Motorsports Complex projects yet, far enough away from any disruption they may cause to the surroundings. Such projects are expected to help transform Casa Grande from a relatively quiet community into a major commercial player in The Valley. Attesa Motorsports Complex and the Electric Vehicle Manufacturing Plant, Lucid Motors (formerly known as Atieva) are just a few major projects that have been announced.

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7309 E Rovey Avenue Scottsdale, AZ 85250

Open House

$1,050,000

4 Beds

2 Baths

3,249 SqFt

Status Active

MLS # 6742741

Property Type Single Family Residence

Price Type --

Welcome to an extraordinary retreat in Scottsdale's prestigious Briarwood community. This stunning residence, located on a peaceful cul-de-sac, offers breathtaking Camelback Mountain views and exceptional craftsmanship throughout. Inside, you'll find elegant wood-like tile flooring, soaring ceilings, and a striking two-way brick fireplace that connects the living and great rooms, creating a warm and inviting ambiance. The chef's kitchen is a highlight, featuring top-tier stainless steel appliances, quartz countertops, and a spacious island—perfect for cooking and entertaining. The master suite is a private oasis, complete with a dedicated office, direct patio access, and a spa-inspired bathroom with dual sinks, a luxurious garden tub, and a generous walk-in closet. Outside, entertain effortlessly with a custom pizza oven, relax under the gazebo by the fire pit, or enjoy the pool and spa. Additional features include a flexible open den/office and a secondary bedroom with a sitting area and separate entrance, ideal for guests. Experience the pinnacle of luxury and Scottsdale living.

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7588 W Quail Avenue Glendale, AZ 85308

Open House

$1,050,000

3 Beds

2.5 Baths

3,305 SqFt

Status Active

MLS # 6778001

Property Type Single Family Residence

Price Type --

Absolutely Stunning! Inside this beautiful home, you will find a 14' Kitchen Island, Granite Counters, Double Ovens, Custom Backsplash, Staggered Maple Cabinets, Custom Entertainment Niche w/Wood Beams, Rich Hardwood Floors, Crown Moldings, Spacious Guest Bedrooms, Plantation Shutters and MASSIVE GAME ROOM with separate Closet. Multi-Slide Door in Great Room to expand the living space and let the outdoors in. Backyard features over 2,000 SqFt of Travertine Pavers, a negative edge pebble tech pool w/Baja step and color wheel, a sunken outdoor kitchen with Built-in BBQ, Contemporary outdoor fireplace, synthetic grass, and Basketball Sport Court. Large North facing Lot w/Desert wash behind, Lush Landscaping and Gorgeous Mountain Views. Premier Community just minutes from the Loop 101. 2020 epoxy-coated oversized three car garage floor, primary closet with custom dresser cabinet units, extra shelving, LED ceiling lights, 24-inch granite vanity with an undermount sink in the Powder Bathroom and 48-inch quartz countertop with undermount sink in secondary bathroom. 2022 Wayne Dalton garage doors. What's Not to Love!!

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7500 E Boulders Parkway Unit 39 Scottsdale, AZ 85266

Open House

$1,050,000

3 Beds

3 Baths

2,121 SqFt

Status Active

MLS # 6778701

Property Type Single Family Residence

Price Type --

Nestled within the exclusive Boulders Resort community, this beautifully expanded Paseo Model home combines elegance, privacy, and luxury with stunning views of Wingate Mountain and the lush greens of The Boulders Golf Course. This sophisticated property offers an expanded dining area and a spacious guest house, perfect for entertaining or hosting family and friends. The private yard is designed for relaxation, complete with a spa where you can unwind while taking in the breathtaking scenery. Inside, the home features elegant travertine tile flooring throughout and updated kitchen with beautiful granite countertops and modern stainless steel appliances. Large windows fill the home with natural light, offering picturesque views that make each day feel like a getaway. Whether you're an avid golfer, a nature lover, or simply seeking a serene retreat, this home in the prestigious Boulders Resort community has everything you need to experience the finest Arizona lifestyle. Seller would like to sell the home fully furnished!

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1934 E Cypress Tree Drive Gilbert, AZ 85234

Open House

$1,050,000

6 Beds

3 Baths

3,900 SqFt

Status Active

MLS # 6760899

Property Type Single Family Residence

Price Type --

Discover the charm of this beautiful 6-bedroom basement home in a desirable cul-de-sac within a secure, gated subdivision. Enhanced with updated video surveillance and monitoring, this residence offers peace of mind and privacy. Step inside to find elegant wood flooring in the entryway, hallway, and kitchen, all other living areas have neutral carpet. The main level offers a spacious master bedroom and on-suite with a separate tub and shower. Also offers an additional 2 bedrooms, one bath, and a private office. The full basement provides a 20x14 game room, a full bath, and 3 additional large bedrooms. Enjoy outdoor living with a lush green backyard and large Pebble Tech diving pool, complete with a kid-friendly Baja shelf. And much more! The outdoor entertainment island is perfect for gatherings, and a spacious shed/workshop casita includes a private restroom and outdoor shower for guests. This exceptional community offers a beautiful clubhouse and impressive amenities, including three indoor racquetball courts, a cardio exercise room, weight training room, banquet and meeting rooms, eight tennis and pickleball courts, and both a junior Olympic swimming pool (heated for year-round) and a unique tropical lagoon swimming pool with a sandy beach and waterfalls. Enjoy walking distance to private community lake access, playgrounds, a community garden, and basketball courts. Don't miss your chance to experience the perfect blend of comfort and luxury in this remarkable lakeside home!

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15175 S 185th Avenue Goodyear, AZ 85338

Open House

$1,050,000

4 Beds

3.5 Baths

3,216 SqFt

Status Active

MLS # 6738045

Property Type Single Family Residence

Price Type --

Why build new when this 2023 William Ryan Lyra model is gorgeous & ready now! 3216 SF single level, large premium view lot, 3 car garage & new pool with professional landscaping. Gated courtyard. 4 BR, 3.5 baths plus enclosed den/office. Spacious & private guest suite offers a 2nd master. 10' ceilings, 8' doors, Upgraded 12 X 24'' tile flooring everywhere except bedrooms. Quartz counters throughout kitchen and all baths. Gourmet kitchen boasts a huge island, gas cooktop, all appliances w/refrigerator and butler & lg walk in pantry. 16' multi slider in great room opens to extended covered patio. Short walking distance to Presidio Resident's Club and enjoy all the amenities that Estrella has to offer. This beautiful home and yard w/Mtn views will not disappoint so come tour in person today!

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7534 E Glenn Moore Road Scottsdale, AZ 85255

Open House

$1,050,000

5 Beds

3 Baths

3,352 SqFt

Status Active

MLS # 6754625

Property Type Single Family Residence

Price Type --

This beautifully designed home blends modern comfort with stylish sophistication. Ideally located in Pinnacle Reserve of North Scottsdale, the open-concept design ensures a seamless flow, featuring a spacious dining and living area that leads to an expansive kitchen and family room complete with a gas fireplace. Rich hardwood floors throughout the main living areas offer warmth and cohesion. The kitchen boasts updated appliances, an island with a breakfast bar, and a casual dining area that opens onto a covered patio. With five bedrooms and an oversized family/bonus room, this home provides a versatile and thoughtfully planned layout. The three remodeled bathrooms add to the home's modern appeal. Resort style backyard features a heated pool, spa, and grassy play area.

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16442 N 58th Street Scottsdale, AZ 85254

Open House

$1,050,000

4 Beds

2.5 Baths

2,725 SqFt

Status Active

MLS # 6763151

Property Type Single Family Residence

Price Type --

Welcome to Your Desert Oasis! Nestled in the heart of Scottsdale, this beautifully updated 4-bedroom + den, 2.5-bath home offers a blend of modern luxury and Southwest charm. Situated on a spacious lot this property boasts a lush backyard with a sparkling pool, perfect for Arizona's sunny days. Step inside to find a bright, open floor plan w/vaulted ceilings, tile flooring, & large windows that fill the space w/natural light. The gourmet kitchen features granite countertops, stainless steel appliances, & a breakfast bar, ideal for entertaining. The primary suite is your personal retreat, offering a spa-like bathroom w/dual vanities, a soaking tub, and a walk-in closet. Tons of recent updates like new A/C & thermostats, exterior paint, micro & fridge, garage storage, full list available Located in the desirable 85254 zip code, this home is minutes from world-class dining, shopping, and outdoor activities. With a 2-car garage, ample storage, and proximity to top-rated schools this home is perfect for families or those looking for an Arizona getaway. Don't miss the chance to experience luxury living in Scottsdale's prime location!

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4330 S Neutron -- Mesa, AZ 85212

Open House

$1,050,000

3 Beds

2.5 Baths

3,392 SqFt

Status Active

MLS # 6730383

Property Type Single Family Residence

Price Type --

Highly upgraded and decked out designer Eastmark single-level home for sale (3-5 bedrooms) with three bedrooms plus an office, flex room, and a sparkling pool with heater AND CHILLER. The chef's kitchen, complete with ceiling heigh illuminated cabinets, quartz counters, stainless steel appliances, alongside a butler's pantry with wine fridge. Master bedroom with a separate entrance goes in and out of the pool area plus the master bathroom has a vanity. The backyard oasis has both patio and pergola, built-in BBQ, and a nice baja step in the pool to relax on. Perfect for entertaining. Plus, the flex room with double rench doors leading to an outdoor yoga/meditation and water area. Imagine high-end finishes and touches built into a home where their sudden need to move is your HUGE gain! FYI - you can enclose the space between the 2nd and 3rd bedrooms to add a 4th bedroom and closet if you would like a 4th bedroom.

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24066 S 218th Place Queen Creek, AZ 85142

Open House

$1,049,995

4 Beds

3.5 Baths

3,194 SqFt

Status Active

MLS # 6719952

Property Type Single Family Residence

Price Type --

The Escena Floorplan is officially MOVE IN READY! Our professional design team has tastefully added an elegant touch to this 4 bedroom (+Bonus room), 3.5 bathroom home. The upgraded Chefs Kitchen comes equipped with a large kitchen island, a walk-in pantry, upgraded KitchenAid Appliances, and beautiful soft close cabinetry! The upgraded 16' x 8' Multi Panel Stacking slider in the dining room allows for a seamless transition to your pool sized back yard that is ready for you to create the outdoor living oasis of your dreams. Primary suite is spacious with direct entry to the backyard and the primary bath is made complete with dual vanities, a freestanding soaking tub, beach entry shower, and a large walk-in closet. This recently completed home is an absolute must see!

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5122 E Village Drive Scottsdale, AZ 85254

Open House

$1,049,990

5 Beds

3 Baths

2,925 SqFt

Status Active

MLS # 6757672

Property Type Single Family Residence

Price Type --

Also for rent $4,600 per month! Exclusive 2023-built 5 BD/ 3 FULL baths home in GATED community of Arabella, ''magic zip code'' 85254! Enjoy community resort style pool, multiple playgrounds, and various walking and biking paths. Eliminate your APS bills with SOLAR! GOURMET KITCHEN includes a GAS COOKTOP, STAINLESS STEEL APPLIANCES, full tile backsplash, modern gray cabinets with under-cabinet lighting, QUARTZ countertops, reverse osmosis system. The great room has STUNNING 20 FOOT CEILINGS and a 12-FT SLIDING GLASS DOOR leading to the covered patio, allowing for gorgeous natural light throughout the day. Master bdrm and second bdrm are on the 1st floor. Other 3 rooms, spacious LOFT and a MEDIA ROOM are upstairs. The home is equipped with SMART THERMOSTATS and a WATER SOFTENING SYSTEM. THE WHOLE HOME CARBON FILTER SYSTEM is installed to remove chlorine and other impurities from the water. BRAND NEW backyard with high quality heat resistant artificial grass. Just a 5-minute drive to HWY 101 and 51 exits, a 6-minute drive to the MAYO CLINIC and ASU's new Health Futures Center, a short drive to shopping and entertainment at Kierland, Scottsdale Quarter, High Street, Desert Ridge, and more. Home is thoroughly cleaned, all the systems are checked and adjusted, windows are shiny - fresh and bright ready to move-in!

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7118 N Via De Alegria -- Scottsdale, AZ 85258

$1,049,900

3 Beds

2 Baths

1,890 SqFt

Status Active

MLS # 6757756

Property Type Single Family Residence

Price Type --

Welcome Home! Step inside this SINGLE LEVEL beauty featuring a perfect floor plan with 2 living areas, VAULTED CEILINGS, an Entertainers Kitchen and Spa like Baths all recently renovated. Numerous exits to the gorgeous private yard with sparkling pool and numerous seating areas to relax with your family and friends. Nestled in the heart of McCormick Ranch, you have shopping and restaurants in every direction as well as easy access to the freeway when you need to get away. Don't miss this one!

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