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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1085 Yaqui Drive Wickenburg, AZ 85390

$825,000

3 Beds

2 Baths

2,062 SqFt

Status Active

MLS # 6726025

Property Type Single Family Residence

Price Type --

Nestled within the rugged beauty of Wickenburg, Arizona, lies a haven for horse enthusiasts - 1085 S Yaqui Dr. This 1.475-acre property isn't just a home; it's a lifestyle, a sanctuary where the sun-kissed desert meets modern living. Step through the welcoming threshold of this 2,062 sq ft residence, and you'll feel the warmth of meticulous care. Sunlight spills through large windows, illuminating the open living spaces. The home boasts room for all your toys, equipped with a 3-car garage and an RV hook-up. Outside, the equestrian amenities await. A horse corral is already set up, along with a 30 ft x 10 ft horse shade and a 33 ft x 12 ft hay/trailer storage. But that's not all - there's a very spacious horse turnout area, ready for your personal touch. So many more amazing features await your discovery. Schedule a tour today to see them all. Your equestrian dreams await at 1085 S Yaqui Dr!

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1991 W Coconino Drive Chandler, AZ 85248

$825,000

4 Beds

3 Baths

3,037 SqFt

Status Active

MLS # 6726893

Property Type Single Family Residence

Price Type --

Tenants are out! Don't be concerned with days on market. The property was tenant-occupied and is now vacant and easy to show! Amazing opportunity to own a home nestled within the prestigious Watermark at Ocotillo Community. This spacious 4 bed 3 bath home is one of Camelot's most desirable models! Step into the heart of luxury through the stunning kitchen, with exquisite cabinetry, stainless steel appliances, & lavish granite countertops that define culinary sophistication. Upgraded flooring showcases a seamless blend of plush carpeting, tile, and modern luxury vinyl plank. Prime location near major freeways, great schools, and large employers. Enjoy everything the Ocotillo lifestyle offers!

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5933 W Grovers Avenue Glendale, AZ 85308

$825,000

4 Beds

2 Baths

2,067 SqFt

Status Active

MLS # 6732201

Property Type Single Family Residence

Price Type --

This incredible 4-bedroom, 2-bathroom single story home is perfectly situated on almost an acre! Located in a prime central location, you'll be just minutes from freeways, top-rated schools, shopping & restaurants. Step through the courtyard entrance to a gorgeous iron door that leads to an interior featuring vaulted ceilings, skylights & custom paint. The bright, open floor plan includes formal living & dining areas as well as a spacious family room, ideal for both relaxing & entertaining. The stunning granite kitchen is equipped with stainless steel appliances, stylish custom cabinetry, a breakfast bar & a bay window dining nook. The owner's suite is a private retreat with an updated ensuite bathroom & sliding glass doors leading to the backyard. Outside, you'll find a sparkling pool, large covered patio, gazebo, turf, putting green, exterior lighting, a shed & large concrete slab. There's so much open space in the backyard, offering plenty of room to add whatever you desire on this enormous lot. Don't miss your chance to own this extraordinary home!

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4424 E Hartford Avenue Phoenix, AZ 85032

$825,000

3 Beds

2.5 Baths

2,798 SqFt

Status Active

MLS # 6730076

Property Type Single Family Residence

Price Type --

Desirable home located in the quiet gated community of Santa Rita. Tucked away but close to everything. A prime location that is minutes to both the 101 and 51, the newly reimagined PV mall, Desert Ridge, Kierland/Scottsdale Quarter and much more. This Energy Star Certified Cachet home was built in 2016 and offers 3 bedrooms, 2.5 baths, a separate office, large loft space plus extra workspace. When you arrive at the home you are greeted by charm and character highlighted by the tasteful landscaping, exterior lighting, and arched entryway leading you to the front door. The main floor features a great room floor plan, large dual slider that provides seamless indoor to outdoor living, a separate office, and large kitchen. Private backyard space is the perfect spot to entertain and has brick pavers, a large covered patio with a built-in misting system, artificial turf and a putting green. The kitchen boasts a large island with ample room for bar seating, granite countertops, large walk-in pantry, stainless steel appliances, wall oven and microwave, reverse osmosis, and electric range cooktop. Upstairs the large primary suite is split from the two secondary bedrooms and bathroom. The primary bathroom has dual vanities, large soaking tub, walk-in shower, and generous walk-in closet. Separating the primary and secondary bedrooms is a wonderful loft space that can be utilized many ways depending on your needs. Large windows throughout the home provide great natural light throughout the home. Automatic window coverings throughout the home. Hard wired surround sound throughout the home. Large laundry room with lots of room to customize and make your own. Additional coat closet/storage closet across from the laundry room is a great bonus. Powder bath is located on the main level. 3 car garage with lots of built in storage. Community features multiple green spaces and a children's playground.

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8737 E Whitton Avenue Scottsdale, AZ 85251

$825,000

5 Beds

2 Baths

1,488 SqFt

Status Active

MLS # 6733270

Property Type Single Family Residence

Price Type --

It's a vibe! Embrace the allure of this splendid 5-bedroom, 2-bath haven nestled in the enchanting cul-de-sac of Old Town Scottsdale. A treasure not to be overlooked! Spanning 1/3 acre, this paradise beckons for children and toys alike. Whether you seek a family abode or a well-appointed vacation retreat with a rich income legacy, this gem shines brightly. Adorned with designer touches, it boasts playful accent walls and five exquisitely designed bedrooms. Every corner has been lovingly refreshed! Revel in the new kitchen, sparkling appliances, lush landscaping, elegant flooring, and pristine baths! With spring training just a stone's throw away and the convenience of the 101 freeway nearby, you're mere minutes from the culinary delights, artistry, theaters, & Fashion Square Mall! It's a vibe! Embrace the allure of this splendid 5-bedroom, 2-bath haven nestled in the enchanting cul-de-sac of Old Town Scottsdale. A treasure not to be overlooked! Spanning 1/3 acre, this paradise beckons for children and toys alike. Whether you seek a family abode or a well-appointed vacation retreat with a rich income legacy, this gem shines brightly. Adorned with designer touches, it boasts playful accent walls and five exquisitely designed bedrooms. Every corner has been lovingly refreshed! Revel in the new kitchen, sparkling appliances, lush landscaping, elegant flooring, and pristine baths! With spring training just a stone's throw away and the convenience of the 101 freeway nearby, you're mere minutes from the culinary delights, artistry, theaters, and shopping escapades that Scottsdale offers! Furnishings are available through a Separate Bill of Sale.

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7381 W Paso Trail Peoria, AZ 85383

$825,000

5 Beds

3.5 Baths

3,376 SqFt

Status Active

MLS # 6741370

Property Type Single Family Residence

Price Type --

LOCATION, LOCATION, LOCATION! Step into this exquisite Taylor Morrison Cottonwood floorplan, nestled in the highly desirable Terramar neighborhood. This expansive home features five bedrooms, three and a half bathrooms, and a three-car garage, providing all the space you need. Recently updated with fresh interior paint, brand-new flooring, and sleek new baseboards, it exudes modern elegance. Outside, your private oasis awaits: mature trees, your very own garden area, a sparkling heated swimming pool and spa, and inviting spaces like a gazebo and fire pit for ultimate relaxation and entertainment. Situated on a premium lot and close to top-rated schools and shopping, this home offers both luxury and convenience. Don't let this exceptional property slip away—make it yours today! This is more than just a house; it's a place to call home. Don't miss the chance to make this exceptional property yours!

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5209 N 145th Drive Litchfield Park, AZ 85340

$825,000

5 Beds

4.5 Baths

4,473 SqFt

Status Active

MLS # 6736383

Property Type Single Family Residence

Price Type --

Amazing move in ready Gem in the heart of Litchfield park and REDUCED PRICE 10/3. This one has 5 large Bedrooms, full Casita with separate entrance downstairs, 4.5 baths, huge loft, master down, and a 3 Car Tandem Garage nestled in the enclave of exquisite estates & Amenities. Gourmet Kitchen features gas cooking and stainless appliances with no homes in backyard for maximum privacy. Kitchen featuring a large Granite Island, In wall Oven and microwave, Gas Cooktop, walk-in Pantry & Butlers Pantry. The expansive upstairs loft welcomes oversized bedrooms with seperate walk in closets including jack and Jill bath between two of the bedrooms and another bedroom with a private bath! Indulge in the Outdoor Pool, upgraded landscape including synthetic turf and putting green!

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3056 E Mallory Street Mesa, AZ 85213

$825,000

5 Beds

3 Baths

3,338 SqFt

Status Active

MLS # 6744722

Property Type Single Family Residence

Price Type --

PRICED TO SELL!! NO HOA!! Discover this impressive 5-bedroom, 3-bathroom home in the highly sought after community of Lindsay Estates, offering over 3,300 square feet of beautifully designed living space with soaring vaulted ceilings and a grand stairway as you enter the front door. The spacious kitchen is a chef's dream with tons of cabinets and counter space, wall oven and new cooktop in the island which overlooks the spacious family room with a warm fireplace. Step outside to the private backyard oasis where a refreshing pool awaits, perfect for entertaining & enjoying Arizona's sunny days with a built in BBQ, Pergola and even a firepit. The grand master retreat has a balcony which overlooks the backyard, double sinks, garden spa tub and a large walk-in closet. Two of the oversized bedrooms also have their own private balcony's that overlook the front yard. The home has tons of upgrades, has been freshly painted both inside and outside and is equipped with a new owned solar system, so the home is very energy efficient. Located near popular shopping, freeway access and A1 rated schools, this home combines convenience with luxury, offering the ultimate living experience in a prime location. Come see what it, you will not be disappointed.

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8705 E Monterosa Avenue Scottsdale, AZ 85251

$825,000

3 Beds

2 Baths

2,056 SqFt

Status Active

MLS # 6746737

Property Type Single Family Residence

Price Type --

* One of a kind remodel in the heart of Scottsdale * Solid white oak flooring * Open kitchen with huge island * Custom Scottsdale Cabinets in kitchen and bathrooms * Professional series appliances featuring a double refrigerator/freezer, wall oven/microwave and flat cooktop with pot filler * Smooth textured walls throughout * Amazing bathrooms with walk in showers and soaking tub * All new faucets, sinks, mirrors and lighting * Ceiling fans and can lights throughout * New baseboards, doors and windows * New 5 ton Trane A/C unit * Across the street from pool and clubhouse * Great HOA * Remodel costs north of $240k *

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5327 W Paradise Lane Glendale, AZ 85306

$825,000

4 Beds

3.5 Baths

2,360 SqFt

Status Active

MLS # 6775268

Property Type Single Family Residence

Price Type --

**HIGHLY MOTIVATED SELLERS, SIGNIFICANT PRICE REDUCTION** Perfect for horse lovers on nearly an acre with NO HOA. Sunburst Farms Gem. This fully updated, move-in ready 4-bed, 3.5-bath home is a rare find in the desirable Sunburst Farms Subdivision. Inside, the home features a bright kitchen with granite counter tops, large island, and stainless steel appliances. The tri-level design offers ample living space, Master bedroom on upper level. Outdoors, enjoy a sparkling pool with a custom rock slide. Also featuring a large covered patio with a great grill area making it the perfect outdoor gathering spot. The sparkling pool with custom rock slide features another large ramada providing perfect shade protection all summer long. Updated features include new flooring (2015), heating/cooling (2015), fully renovated kitchen and baths (2015), heating/cooling (2015), fully renovated kitchen and baths (2015), and complete remodeled pool with custom rock slide (2020). This irrigated, expansive property boasts horse corral with stalls backing onto a bridle trail with direct access to an equestrian park. Chicken coop. Plenty of room for all your toys, RVs, and boats. This is a must-see home that won't last long! There are many more details, too many to list.

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8638 E Paraiso Drive Scottsdale, AZ 85255

$825,000

2 Beds

2 Baths

1,642 SqFt

Status Active

MLS # 6755844

Property Type Single Family Residence

Price Type --

Charming, one of a kind free standing home in highly sought after LaVida. Fabulous location! Beautiful front courtyard, small park, community pool, tennis courts and ramada. Recent updates throughout completed the past two months. New carpet, paint, renovated Saltillo tile, new epoxy garage floor, etc. Move in Ready. Refrigerator, washer, dryer are negotiable. Main plumbing line replaced February, 2024 One Gated entrance at Pima Road for residents only.

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27681 N 108th Way Scottsdale, AZ 85262

$825,000

2 Beds

2 Baths

1,998 SqFt

Status Active

MLS # 6759437

Property Type Single Family Residence

Price Type --

Welcome to your dream retreat in the heart of Troon North! This stunning 2 bed, 2 bath, residence boasts unparalleled mountain views, offering a picturesque backdrop for your everyday life. Brand new roof in July 2024. As you step into the meticulously designed property, you're greeted by a luxurious pebble tec pool and spa, complete with pop-up filters for ease of maintenance and endless relaxation. The home's grandeur is immediately apparent with its soaring 12-foot ceilings, creating a sense of spaciousness and sophistication in every room. Large windows strategically placed throughout the residence invite abundant natural light, illuminating the exquisite interior and highlighting the breathtaking vistas beyond. Entertain with ease in the gourmet kitchen, featuring upgraded shutters, premium appliances, and ample counter space for culinary creations. The open-concept layout seamlessly connects the kitchen to the living and dining areas, fostering effortless flow and connectivity for gatherings of any size. Retreat to the lavish master suite, where tranquility awaits amidst panoramic views and indulgent amenities. The en-suite bathroom offers a spa-like experience with a soaking tub, dual vanities, and a spacious walk-in shower, providing the ultimate in relaxation and rejuvenation. Outside, the expansive patio beckons you to unwind in style with natural area open space at the rear of the property, whether you're basking in the Arizona sun, dining alfresco under the stars, or simply enjoying the serenity of your private oasis. With meticulously landscaped grounds and unparalleled vistas of the surrounding mountains, every moment spent outdoors is an escape to paradise. Located in the prestigious community of Troon North, this residence offers the perfect blend of luxury living and natural beauty. Enjoy world-class golf, hiking trails, and upscale amenities just moments from your doorstep, making every day feel like a vacation in paradise.Don't miss your chance to experience the epitome of desert living in this exquisite Troon North retreat.

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