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

7201 S Golden Fleece Road Prescott, AZ 86303

$825,000

3 Beds

2 Baths

2,180 SqFt

Status Active

MLS # 6760982

Property Type Single Family Residence

Price Type --

AMAZING MOUNTAIN GETAWAY ON 3 AC OF PINED PROPERTY - GATED - PRIVATE - VIEWS - ADJACENT TO NATIONAL FOREST ON TWO SIDES. Step inside this NEWLY REMODELED top to bottom cabin. Brand new living room with walls of floor to ceiling new dual pane windows, doors flooring, paint, etc. Step into the brand-new kitchen featuring new cabinets, appliances and granite. One bedroom on main level, one on the mezzanine level, and the huge master suite is upstairs with a 3/4 bath, spacious walk-in closet, great views and a deck off of the side door. Private 10 gpm well. Propane stove in living room, as well as propane wall htr. Relax and enjoy watching the wildlife out the windows from the comfort of your living room. If you're looking for privacy & that wonderful mountain air, this one's for YOU! All buyers must be accompanied by an agent for access through gate and uphill to sign/driveway on Left. Property is only 6/10 mi off paved Walker Rd. Your quiet retreat in the woods only 15 minutes from town.

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1216 Easy Street Wickenburg, AZ 85390

$825,000

3 Beds

2.5 Baths

2,495 SqFt

Status Active

MLS # 6770246

Property Type Single Family Residence

Price Type --

This is your chance to own this beautiful , charming home in the heart of Wickenburg .No HOA. 3.7 Acres of HORSE PROPERTY. Main home + a guest house. Ranch style, open floor plan, 3 bedroom, 2 full bath & 1/2 bath w/Arizona room. Relax by the fireplace in the living room w/ large picture windows to take in the AMAZING VIEWS and gorgeous sunsets. Exit to the back patio to enjoy the firepit & covered patio. Completely fenced in for your pets & kids.. 2 car attached garage & separate RV garage. Attached by a breezway is a sweet, one bedroom casita for your family & friends. Solar system owned, not leased. Room for your horse set up below the house. Paved road. Easy access to Hwy 60 & Hwy 93. Don't miss out on this great buy. Home is in immaculate shape and move in ready

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7501 E Golden Eagle Circle Unit 27 Gold Canyon, AZ 85118

$825,000

3 Beds

3 Baths

2,997 SqFt

Status Active

MLS # 6771957

Property Type Single Family Residence

Price Type --

SUPERSTITION MOUNTAIN VILLA! THREE BEDROOM THREE BATH, WITH AN EXTRA ROOM FOR AN OFFICE, DINING AREA, EXTRA BEDROOM OR DEN! TWO DOWNSTAIRS PATIOS, ONE WITH A LARGE GAS FIRE PIT AND THE OTHER OFF THE KITCHEN WITH A BUILT-IN BBQ AND FOUNTAIN. RELAX BY THE FIREPLACE ON THE UPPER DECK AND ENJOY THE MAGNIFICENT MOUNTAIN VIEWS. NEW BAR WITH GRANITE COUNTER TOP AND WINE FRIDGE. Newer stove top, refrigerator dishwasher and two AC's. NEW STATE OF THE ART AUDIO EQUIPMENT FOR SURROUND SOUND THROUGHOUT THE HOME. Floor plan offers flexibility for living lifestyle. 24 HOUR GUARD GATED COMMUNITY. Two Jack Nicklaus golf courses. Not a golfer? Enjoy tennis, pickle ball, bocce, hiking and many other activities. Club membership available under a separate agreement. 35 minutes to Phoenix Sky Harbor and 20 minutes to Mesa Gateway airports. Some furnishings available under a separate bill of sale at close of escrow.Buyer and/or buyer's agent to verify all pertinent information, including square footage

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7180 E Kierland Boulevard Unit 314 Scottsdale, AZ 85254

$825,000

1 Bed

1 Bath

892 SqFt

Status Active

MLS # 6775729

Property Type Apartment

Price Type --

Experience luxury high-rise living at Optima Kierland, where sophistication meets modern convenience in N. Scottsdale. This exclusive 3rd-floor residence, the largest one-bedroom plan in the coveted 7180 tower, offers an unmatched blend of style and functionality. Step into the open, U-shaped kitchen leading to a great room framed by a rare, retractable sliding glass door that invites natural light and mountain views inside. The customized walk-in closet has built-in storage and a cleverly integrated bunk bed, maximizing space without compromising elegance. With stunning views from your living space and a rooftop recreation deck featuring a cold plunge, a ¼ mile walking track and expansive vistas, Optima Kierland is more than a home it's a vibrant, elevated lifestyle.

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7700 E Balao Drive Scottsdale, AZ 85266

$825,000

3 Beds

3 Baths

1,942 SqFt

Status Active

MLS # 6780894

Property Type Single Family Residence

Price Type --

Welcome to sought after guard gated Bellasera! The interior lot offers a peaceful setting for a vacation retreat or year round resort style living. This home boasts approximately 1,900 square feet of living space, a neutral color pallet with three bedrooms and three bathrooms. The property features a courtyard entry with space for entertaining, a private lot, and a casita. The home has a north/south exposure and provides mountain views. Bellasera has a multitude of first class amentities including a well apointed club house and fitness center, community pool, tennis courts and a lighted DOG PARK. It is conveniently located close to shopping, hiking, golf, restaurants, the airport and all Scottsdale has to offer.

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1946 E Dawn Drive Tempe, AZ 85284

New

$825,000

4 Beds

3 Baths

2,917 SqFt

Status Active

MLS # 6777200

Property Type Single Family Residence

Price Type --

Beautiful 4 bedroom home in the neighborhood of Alta Mira - a Tempe NO HOA neighborhood with a grassy park complete with playground and basketball court. Two stories w/ a secondary bedroom and bathroom on the first floor. The house has a freshly painted interior, a kitchen remodeled in 2019 which has a gas range, built-in refrigerator, and granite countertops. The second story primary is oversized & has a full bathroom w/separate tub and shower. Desert landscape in the front yard keeps it low maintenance. The backyard has lush, mature landscaping and a beautiful pool and above ground spa. The back patio features a built-in ''kitchen'' with a charcoal AND propane gas grill and Mexican tile decor. Don't miss the detached storage complete with electric. This is a terrific home and a must see.

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26446 N Avenida Del Ray -- Rio Verde, AZ 85263

$825,000

3 Beds

2.5 Baths

2,716 SqFt

Status Active

MLS # 6778623

Property Type Single Family Residence

Price Type --

Fantastic Old World style home with cast iron & glass front door, all the best upgrades, travertine floors, Granite counters, center island, walk in pantry with frosted glass door, smooth cooktop, & upgraded stainless steel appliances & free standing range hood in the gourmet kitchen. 3 Bedrooms and 2.5 baths Large open Greatroom plan with lighted Niche wall. Deluxe tile and light fixtures in all the baths. Walk in closets in all bedrooms. Large 3 Car garage with extra storage room. Real wood plantation shutters through out the house, 8 ft. solid wood doors & 10 ft. ceilings. Front courtyard, back patio and driveway have pavers. Laundry room with washer & dryer, closet and abundant cabinets. Located near the entrance to McDowell Mountain Regional Park for hiking & biking. HURRY! Furniture is available for purchase on a separate bill of sale.

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2607 S 339th Avenue Tonopah, AZ 85354

New

$825,000

3 Beds

2 Baths

1,974 SqFt

Status Active

MLS # 6784876

Property Type Manufactured Home

Price Type --

Don't miss out on this amazing 10 acres with 1974 sq ft home. There is nothing else like it! Beautiful backyard with mature trees, BBQ and fireplace, large shade/carport 60x50 to park all your toys, 60x30 greenhouse, 3 large pastures with shades, fenced with no climb around 5 acres, master has a large walk-in closet, stand-alone soaking tub with separate shower, you are going to love the all the updates in the kitchen. This hard to find 10 acres just has too much to list! Seller willing to split the property.

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1926 W Chisum Trail Phoenix, AZ 85085

$825,000

3 Beds

2.5 Baths

2,567 SqFt

Status Active

MLS # 6779639

Property Type Single Family Residence

Price Type --

Welcome to the charm of a historic neighborhood w/the vibrancy of modern living! This corner lot home boasts nearly 2,600sf of open living space in a vibrant, neighborly community. The keenly designed floor plan features an elegantly appointed owner's en-suite, open loft, and chef's kitchen w/an expanded island, granite countertops, high-end upgrades & wine cooler. Enjoy tile plank flooring & high-end carpet throughout. The landscaped front yard boasts lush plants & turf, while the custom backyard oasis includes travertine pavers and heated play pool w/LED lighting & serene water features. Community amenities enhance the lifestyle with a clubhouse, biking & walking paths, sports (pickleball) courts, an enclosed dog park, and a community pool & splash pad. Includes unique private driveway!

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31020 N 5th Street Phoenix, AZ 85085

$825,000

4 Beds

2.5 Baths

3,028 SqFt

Status Active

MLS # 6779678

Property Type Single Family Residence

Price Type --

** FREE 1% RATE BUYDOWN FOR THE FIRST 12 MTHS** A message from the sellers: ''We love the location of this home! The community is gated and is very family friendly which was important to us. The park is amazing and has a splash pad, two playgrounds and BBQ pits. The community holds several events throughout the year it makes it a super fun place to live. The home itself lent well to the fact that we love to entertain and the layout was perfect for that!'' Located in the serene Sonoran Gate gated community surrounded with stunning desert views, this spacious home is ideal for those who love to entertain. Its generous floor plan flows seamlessly from room to room, making gatherings a breeze. Every detail reflects custom craftsmanship, with upgrades throughout that bring both style and comfort. Outside, a sparkling pool awaits complimented by an outdoor kitchen area and gas firepit, making this the perfect outdoor space. The solar lease helps keep energy costs low with APS savings with summer bills at just $200.00 Embrace the peace and beauty of the surrounding desert landscape in a home designed for both relaxation and celebration.

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14131 S 181st Avenue Goodyear, AZ 85338

$825,000

4 Beds

3.5 Baths

3,109 SqFt

Status Active

MLS # 6779098

Property Type Single Family Residence

Price Type --

This home is back on the market because the Buyer could not perform. Request a copy of the Inspection Report, which confirms this home NEEDS NOTHING. The moment you step inside, you'll be captivated by the thoughtful split floor plan, complete with a dedicated teen room and 3rd bedroom with its OWN ENSUITE. Beyond the expansive 4-car garage, the true heart of this home lies in the serene courtyard patio, where the current owners love to unwind. For those who work from home, an office nook provides just the right amount of seclusion. The backyard overlooks a picturesque desert landscape and a 4.8-mile trail. Whether you're cooling off in the pool, cozying up by the gas fireplace in the winter, or enjoying the garden in every season, this home is a sanctuary of comfort and style.

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4126 S Last Chance Trail Gold Canyon, AZ 85118

$825,000

4 Beds

2.5 Baths

3,020 SqFt

Status Active

MLS # 6779335

Property Type Single Family Residence

Price Type --

Magnificent Superstition Mountain & Sunset Views in Gated Mountain Whisper! Prepare to be impressed by extended pavered driveway, spacious private pavered gated front courtyard & arched wrought iron/glass front door. This single level custom home features 4 bedrooms, office/den, 2.5 baths & 3 car garage on a premium 23, 398sf lot with no neighbors on south or west sides. Split floorplan provides privacy for family & friends. Eat-in kitchen offers solid wood cabinetry, slab granite counters & opens to large living room featuring gas fireplace. Lovely primary suite includes luxury bath w/soaking tub and huge walk-in closet. Designer paint, plantation shutters, quality fans, lighting & sunscreens T/O. Over-sized easy-care backyard boasts professionally installed putting green, covered and uncovered patios, pavers & spectacular Superstition Mountain views. 3 car garage sports epoxy flooring & cabinets. Pride of ownership + low maintenance landscaping = time to enjoy Gold Canyon's 5 golf courses, restaurants & world class hiking. 35 min to Phx Sky Harbor.

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