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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1867 S Seton Avenue Gilbert, AZ 85295

$559,000

4 Beds

2 Baths

2,085 SqFt

Status Active

MLS # 6760671

Property Type Single Family Residence

Price Type --

Welcome to your dream home! Beautiful single story turn key home sits on a corner lot in much sought after Lyon's Gate. NEW 2023 A/C UNIT ! Fabulous floor plan invites spacious living w/ 4 bed/2 bath, family, & living & dining rooms. 18'' Tile in all the right places. Brand new carpet in the bedrooms & lots of natural light. The family room opens to the kitchen & allows conversation easily among family & friends. Kitchen boasts SS appliances & generous amount of gorgeous upgraded cherry cabinets, granite counters, & breakfast bar. Primary bedroom has ensuite w/ dbl sinks, a large closet, separate toilet room, a walk-in shower, & deep soaking tub. Extended double car garage. Covered patio & brand new turf so no watering required ! Community pools, basketball, tennis courts and club house !

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1656 N Ventura Lane Tempe, AZ 85288

$559,000

3 Beds

2.5 Baths

1,528 SqFt

Status Active

MLS # 6766827

Property Type Single Family Residence

Price Type --

****Beautifully Remodeled 3-Bedroom,2.5-Bathroom Home in Prime Tempe Location***Offers a comfortable living space, nestled just 2.5 miles from Old town Scottsdale and adjacent to the beautiful Papago Mountains. This home offers convenience and beauty in one of the most desirable areas in Tempe. This bright and spacious home features modern finishes throughout, including an updated kitchen with stainless steel appliances and quartz countertops. Porcelain tile flooring with oak wood design, the large living area offers a cozy family room with an updated fireplace. The upstairs houses generously sized bedrooms. Two car garage with additional storage space, and newly installed Polyaspartic flooring. This home also offers easy access to Sky Harbor Airport, major highways, restaurants & shopping. **Community amenities**Enjoy access to a community pool, bike/jog paths, and a well maintained common area. Come see it today!

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820 W 19th Street Tempe, AZ 85281

$559,000

3 Beds

2 Baths

1,574 SqFt

Status Active

MLS # 6768660

Property Type Single Family Residence

Price Type --

A great opportunity to own this perfect home in Tempe close to ASU. 3/2 with an extra bonus room (Arizona Room) AND a 220 sq ft detached workshop/shed with AC/Heat and running water. This can easily be converted to a guest suite, 4th bedroom, tiny house, man cave, she shed etc. Possibilites are endless! This home really has it all. Backyard features a RV gate that is custom double wide, pavers, artificial grass, patio etc. Must see! North/South exposure. Kitchen has granite countertops, kitchen island, and stainless appliances. About a block away is Clark Park in Tempe which is newly renovated and has a playground, community center, dog park, community garden, and a heated public pool! Come see this property - you will not be dissappointed!

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9196 E Mogollon Trail Gold Canyon, AZ 85118

$559,000

3 Beds

2 Baths

1,525 SqFt

Status Active

MLS # 6774647

Property Type Single Family Residence

Price Type --

This exceptional, move-in ready home is fully upgraded awaiting new owners! Highlights include a new air conditioning system, new bluet tooth water softener, a large spacious lot,& and a three-car garage. The beautifully designed kitchen features elegant cabinetry, solid surface countertops, stainless steel appliances. With a split-bedroom layout for added privacy, the home boasts seamless tile and laminate flooring throughout. The primary bedroom is a showstopper with a charming bay window, vaulted ceilings, and an airy atmosphere. The remodeled bathroom is equally impressive, with a custom barn door, upgraded mirrors and lighting, a separate tub and shower with clear glass doors, and elegant upgraded tile. Add linen closet for extra storage. Step outside to your expansive back yard - It features an extended patio, a putting green, a pool & spa w/newer pool heater, Bluetooth-controlled pool automation, new pumps, a spa blower, and a new paper filter. An RV gate and paved slab provide additional parking space. Rentals are permitted. Furnishings are also available for purchase under a separate bill of sale. LOW HOA only $54 a year!!!This home is a true gem and sure to impress. Don't miss your chance to see this remarkable property!

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210 S Thunder Mountain Payson, AZ 85541

$559,000

3 Beds

2 Baths

1,635 SqFt

Status Active

MLS # 6775030

Property Type Single Family Residence

Price Type --

Dont miss the opportunity to own a newly built home nestled in the quaint neighborhood of Sanctuary at the Rim. This 3-bedroom 2 bath home is perfectly located minutes from great restaurants and local stores yet minutes from creeks, hiking trails, kayaking, and golf. , Home boast an open floor plan with a large kitchen with a large granite island leading to the open living area perfect for entertaining. Easy to clean plank flooring, white cabinetry and stainless steel appliance. Exquisite tiled bathrooms, double sinks, black trim throughout home bringing it all together. This home is a must see, you will not be disappointed,

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10223 W Raymond Street Tolleson, AZ 85353

$559,000

9 Beds

3 Baths

3,420 SqFt

Status Active

MLS # 6784133

Property Type Single Family Residence

Price Type --

HOUSE WAS COMPLETELY REMODELED IN NOVEMBER 2023 AND SHOULD BE LARGELY MAINTENANCE FREE FOR THE NEAR FUTURE. IT IS CURRENTLY CONFIGURED AS A 9 BED 3 BATH SO ITS PERFECT. IT COULD EASILY BE MODIFIED BACK TO 7 BEDROOMS IF THAT IS THE INTEREST OF THE BUYER, WHICH WOULD RESTORE THE DINING ROOM. GREAT DEAL FOR LARGE GROUPS.

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14108 W Lisbon Lane Surprise, AZ 85379

$559,000

5 Beds

3 Baths

3,675 SqFt

Status Active Under Contract

MLS # 6742027

Property Type Single Family Residence

Price Type --

Discover this HUGE beautifully remodeled 5 bed 3 bath gem nestled in the heart of Surprise. As you pull up, you'll notice a 3 car garage with extra parking in front of a RV gate that has a gigantic concrete pad that extends to the back of the property. There, you'll find a HUGE covered patio, tastefully designed low maintenance yard and a gas stub for your future BBQ. As you step inside you'll be greeted by a great room that seamlessly connects to a beautifully updated kitchen, huge family room with surround sound and a bathroom and bedroom that would be perfect for a mother-in-law setup or office. Upstairs, you'll find an oversized loft perfect for family or game nights, HUGE master bedroom with a HUGE walk in closet, 3 other bedrooms with walk in closets and a bathroom Recent updates include new interior and exterior paint, new flooring, new quartz countertops, new baseboards, tile backsplash in the kitchen, ceiling fans, fixtures, etc.. With all the space and parking, this home would make a great multi-generation setup or a perfect Family forever home. Come take a look before it's gone!

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13326 W Montansoro Lane Peoria, AZ 85383

$559,000

2 Beds

2 Baths

1,760 SqFt

Status Active Under Contract

MLS # 6753497

Property Type Single Family Residence

Price Type --

SPECTACULAR N/S home on a PREMIUM lot with a NATURAL DESERT/MOUNTAIN SETTING - walking distance to the MITA CLUB! This GORGEOUS like new - open concept - 2022 built Vibrant shows like a MODEL & furniture can be purchased on a separate Bill of Sale making it the perfect winter retreat or full-time home! PAVER driveway/walkway & STONE ACCENTS greet you as you enter this PRISTINE home! STUNNING tile flooring in all the right areas & upgraded carpet in the bedrooms. The BEAUTIFUL kitchen features a large breakfast island, pendant lighting, roll-outs/trash-recycle & soft close drawers, LED under cabinet lighting, GRANITE slab, large pantry, gas stove, SS appliances & dining area. Great room w/2 large windows overlook the natural desert. Den/office has a BUILT-IN cabinet for additional storage. Both baths have CUSTOM tile showers w/decorative listelles - framed mirrors in the spacious owner's suite w/dual sinks & large walk-in closet. Enjoy your FENCED backyard DESERT OASIS - EXTENDED COVERED paver patio, synthetic grass, lighting & natural stone fountain. What an AMAZING opportunity to make this your HOME!! Upgrades: split-tilt plantation shutters, drapery panels, two tone paint t/o, laundry sink w/upper & lower cabinets w/stone c-tops, larger baseboards t/o, lighting, ceiling fans, deeper garage for toys/storage, water softener, reverse osmosis & trash enclosure on side of home.

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19930 N Hidden Ridge Drive Surprise, AZ 85374

$559,000

3 Beds

2 Baths

2,282 SqFt

Status Active Under Contract

MLS # 6764033

Property Type Single Family Residence

Price Type --

Beautiful Split 3 BR Stonecrest On Quiet Cul de Sac. w/No Neighbors Behind, SELLING TURNKEY PREFERRED. Courtyard Entry w/Pavers & Beveled Glass Door. Concrete Texture On Drive, Walks, & Patio. Vaulted Ceilings In Living/Dining. Windows Replaced w/Anderson Windows. Fans & Beautiful Light Fixtures. New Trane HVAC 2023. Whole House Water Filtration System. Kitch.w/Newer Appl.,Cherry Cabs. w/Pull-Outs, Granite, Instant Hot, Backsplash, & Cab.Lighting. Updated Guest Bath. Both Baths w/Toto Toilets. Large Cov,d. Patio ++Pagoda & Awesome Waterfall. Fencing On 3 Sides. Garage w/Attached Cabs.,Workbench, Sink & Textured Floor. Vacation Mailbox. This Home Is Quality & One Of The Best,''FOR SALE'', In ''THE GRAND.'' Leased Solar. 4 Golf Courses, Plus Amenities Galore! Come Join The Fun & Lifestyle.

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8884 E Arizona Park Place Scottsdale, AZ 85260

Open House

New

$559,000

2 Beds

2 Baths

1,446 SqFt

Status Active

MLS # 6785528

Property Type Single Family Residence

Price Type --

Charming and Well-Kept 2-Bedroom + Den in a Prime Location! Welcome to 8884 E Arizona Park Pl, a delightful home full of potential! This 2-bedroom, 2-bathroom residence, complete with a versatile den, offers 1,446 sq ft of comfortable living space. Thoughtfully designed, the home features a welcoming layout that is both functional and inviting. The well-kept kitchen and living areas are ideal for entertaining or everyday living, while the primary suite provides a peaceful retreat with a private bath. The backyard is low-maintenance and ready for your personal touch—perfect for enjoying Arizona evenings. Located in a desirable neighborhood close to Scottsdale Quarter, TPC etc... this charming property is ready to welcome its next owner.

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10260 E White Feather Lane Unit 2039 Scottsdale, AZ 85262

Open House

New

$559,000

2 Beds

2 Baths

1,381 SqFt

Status Active

MLS # 6786921

Property Type Apartment

Price Type --

Resort Style Living! Stunning, Pristine & Move in Ready! Highly upgraded condo featuring Bosch appliances, quartz countertops, white shaker cabinets & plank tile wood flooring! Beautiful floor to ceiling custom stack stone fireplace w/ distressed wood mantle! Designer shower surrounds! Custom Shiplap wall in dining area! Gourmet Kitchen w/ gas cooking and new tile herringbone backsplash & under cabinet lighting! Like new & lightly lived in! Enjoy covered Patio w/ Mountain, City & Natural Desert Views. Prestigious Ridge at Troon North Community features a Heated Pool & SPA & Fitness Center! Minutes to more world class golf, shopping & entertainment! Conveniently located close to hiking & biking trails. Walking distance to Troon North Golf Club. Welcome Home!

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2663 W Kilarea Avenue Mesa, AZ 85202

Open House

$559,000

3 Beds

2 Baths

1,638 SqFt

Status Active

MLS # 6764485

Property Type Single Family Residence

Price Type --

Welcome to PRIME Dobson Ranch living! Nestled in one of Mesa's most desirable master-planned communities, this charming home offers the perfect balance of comfort and convenience. Step inside to be greeted by an open, sun-drenched layout, where natural light pours through every corner. The updated kitchen is a chef's oasis, featuring sleek white quartz countertops, stylish herringbone subway tile backsplash, modern cabinets, and stainless steel appliances. Newer wood floors flow throughout the home, providing a warm and inviting touch to go along with the newly painted to perfection interior walls and split master bedroom design. Relax in your private courtyard or take advantage of the oversized driveway and 2-car garage. The backyard is an entertainer's paradise with a sparkling diving pool, freshly refinished pool deck and a shaded pergola ideal for Arizona evenings. Dobson Ranch amenities include community pools, parks, pickleball courts, and so much more. With easy access to Hwy 101, Hwy 60, and just minutes from ASU, Tempe Town Lake, South Scottsdale, and the thriving Chandler tech corridor, you're never far from the best of the East Valley. This home is a rare find! Don't miss this opportunity - Come see your new home today!

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