Case-Shiller: Home Price Growth Expands to All Metro Areas

March home prices were again dominated by the Northwest with Portland, Oregon posting a year-over-year gain of 12.30 percent followed by Seattle, Washington’s year-over-year gain of 10.80 percent.

Denver, Colorado rounded out the top three cities with a year-over-year gain of 10.00 percent. San Francisco, California, which consistently posted double-digit gains in recent months slipped to a year-over-year gain of 8.50 percent. This may indicate that prices in high cost metro areas are nearing their peak.

S&P Dow Jones Chair David M Blitzer attributed outsized price gains to the shortest supply of available homes since the mid-1980s. Homes for sale account for only two percent of U.S. households. To put rapidly increasing home prices in context, the S&P Case-Shiller 20-City Home Price Index was 11.50 percent below its peak in March, 2006.

Case-Shiller’s 20-City Home Price Index posted a 5.40 percent gain year over year, which was equal to its year-over-year price gain in March 2015. Month-to month home prices gained 0.90 percent; analysts had estimated year-year growth of 5.10 percent and a month-to-month gain of 0.70 percent. All cities in the 20-City Housing Market Index posted gains in month-to-month and year-over-year readings.

Pending Home Sales Exceed Expectations

Pending home sales in April supported trends noted in Case-Shiller’s 20-City Home Price Index. Regional results for pending home sales in April rose by 1.20 percent in the Northeast while pending sales were unchanged in the Midwest. The South posted pending sales gain of 6.80 percent and the West recovered with an 11.40 percent rise in pending sales for April.

Based on April’s pending home sales readings, real estate pros expect a jump in closed sales in May. Home buyer demand remains resilient according to Lawrence Yun, chief economist for the National Association of Realtors. Mr. Yun also said that the key to continued expansion of home sales is providing buyers sufficient supplies of affordable homes. Builders may provide relief by increasing construction, but have cited shortages of labor and developed land as constraints on new construction. Active demand for high-end homes has also focused construction on higher priced homes.

Mortgage applications are also increasing, which indicates that more homes are being purchased by owner-occupant buyers than investors. Relatively low mortgage rates and waning investor interest could provide buyers relying on financing a leg-up in competing for available homes.

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6090 N Stratford Court Rimrock, AZ 86335

$550,000

3 Beds

2.5 Baths

2,090 SqFt

Status Active

MLS # 6767709

Property Type Single Family Residence

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Welcome to Beaver Creek Preserves! A gated community nestled in Northern Arizona, 30 minutes south of Sedona. Complete with community walking trails, clubhouse, community pool, and work-out facility. Brand new, never lived in home built in 2023, with 3 bedrooms plus a den, 2.5 bathrooms, 2 car garage and an RV garage. Enjoy the serenity of Beaver Creek Preserves. Inside, expansive windows frame panoramic views, while the open-concept layout boasts premium finishes and modern amenities. Outside, a spacious patio invites outdoor living and stunning vistas. The modern rustic charm of the finishes and mountain views, one you do not want to miss!

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2303 S 337th Avenue Tonopah, AZ 85354

$550,000

4 Beds

3 Baths

2,200 SqFt

Status Active

MLS # 6776063

Property Type Single Family Residence

Price Type --

Coming Soon! A stunning, to-be-built home awaits! This brand-new 4 bed, 3 bath residence features not one but two master bedrooms and comes complete with an RV garage . Set on over an acre of horse property, this split-floor plan gem offers a perfect blend of modern upgrades and convenience, all just 7 minutes from the freeway. NO HOA.

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954 E 7th Street Mesa, AZ 85203

$550,000

3 Beds

2 Baths

1,542 SqFt

Status Active Under Contract

MLS # 6777888

Property Type Single Family Residence

Price Type --

Welcome to this stunning, fully remodeled home in the heart of Mesa where warranties abound! This 3-bedroom, 2-bath home is a perfect blend of style and functionality, ready for you to move in. Step inside to discover a bright and inviting open floor plan, featuring all-new appliances, sleek quartz countertops, and modern cabinets enhanced by a beautiful marble backsplash. The spacious primary bedroom includes an expanded walk-in closet with custom shoe rack shelving, offering ample storage space. Both bathrooms are luxuriously designed with heated porcelain tile floors. The master bathroom offers a curb-less zero entry shower. Throughout the home, you'll find durable Stone Composite Luxury Vinyl Plank flooring that combines elegance with easy maintenance. New windows and fresh paint... add to the modern appeal. Warranties include showers, floors, windows, with a service plan for the AC unit. Enjoy the new pressure-treated lumber fencing with RV gates on both sides of the house, making parking and storage are a breeze. The flood irrigated yard means lush greenery without the cost and hassle! Conveniently located near the 202 freeway, this home combines modern living with easy access to all that Mesa has to offer. Plus, with no HOA, you have the freedom to make it your own. Don't miss your chance to own this remarkable property!

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4413 W Box Canyon Drive Eloy, AZ 85131

$550,000

2 Beds

2 Baths

1,705 SqFt

Status Active

MLS # 6700890

Property Type Single Family Residence

Price Type --

Partially FURNISHED & STUNNING! This 2 bedroom + DEN, 2 bath home is on highly desired VIEW lot. Garage is 30 ft. deep. The backyard will wow you w/GORGEOUS water feature, firepit, pergola, landscaping lights, Travertine patio, artificial grass & large potted Palm trees. You will love this home from the gated paver courtyard to the amazing backyard & everything in-between! Kitchen has Quartz counters, 2-tone Cabinets w/knobs, roll-out shelves, tile backsplash, SS appliances, Gas range, convection oven, pendant & under cabinet lights. So many upgrades from the wood look tile flooring, Plantation shutters, tiled showers, comfort height toilets, Valet area w/upper & lower cabinets. HUGE Garage has 8ft. door, Storage Space/exercise area, Cabinets, Shelving & Epoxy Floors.

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5089 S Louie Lamour Drive Gold Canyon, AZ 85118

$550,000

3 Beds

2 Baths

1,670 SqFt

Status Active Under Contract

MLS # 6777908

Property Type Single Family Residence

Price Type --

WOW! Fabulous, FULLY FURNISHED, Turn-Key 3 Bedroom UPDATED HOME with DEN & HEATED POOL plus DOUBLE MOUNTAIN VIEWS of Superstition & Dinosaur Mountains! ***You'll LOVE the HIGH-END UPDATES throughout including....FULL KITCHEN REMODEL with GORGEOUS GRANITE & Cabinets, Plantation Shutters, Complete Updates of BOTH BATHROOMS with Travertine Showers and Granite & more! *** You'll also appreciate and enjoy the QUIET & PRIVATE BACKYARD OASIS with 11,000 Gallon Pool (2012) plus... HVAC (2017), Exterior Paint (2022), PVC Irrigation (2022), Water Softener (2021), Water Heater (2021), Tile Flooring through-out (ZERO CARPET) & More - Must See! *** GOLD CANYON EAST is ... Gold Canyon East is a popular community of 647 homes located in the foothills of the Superstition Mountains. In addition to panoramic mountain views, residents enjoy walking and hiking paths through-out the community and championship golf courses, dining, spa services and more at the Gold Canyon Golf Resort next door!

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4572 W Main Street Joseph City, AZ 86032

$550,000

4 Beds

2 Baths

2,791 SqFt

Status Active

MLS # 6722308

Property Type Single Family Residence

Price Type --

Discover a rare opportunity to own a beautiful home coupled with a thriving RV park business. This unique property offers a blend of comfortable living and lucrative investment potential, ideal for those seeking a dynamic lifestyle and income stream. Main home to be sold with RV park parcel. MLS # 6722349

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1103 W Pebble Beach Drive Tempe, AZ 85282

$550,000

4 Beds

2 Baths

1,731 SqFt

Status Active

MLS # 6737458

Property Type Single Family Residence

Price Type --

Location, Location very good center location close to Arizona state university only 2-3 miles , easy access to major freeways and sky Harber airport. 4- bedroom high ceiling new flooring in all bedrooms. Freshly painted, perfect rental or family home large cozy back yard remodeled with brand new artificial Graas, low maintenance. short drive to mill Ave, Tempe town lake and Papago hiking and golfing. Night life restaurants shops Ets.

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41333 N Belfair Way Anthem, AZ 85086

$550,000

3 Beds

2 Baths

1,616 SqFt

Status Active

MLS # 6746580

Property Type Single Family Residence

Price Type --

If you are looking for a remodeled home for under the average list price in Anthem Country Club, stop right here, you have found it! With three bedrooms and two bathrooms, this home is perfect for a small family or a couple who needs room for visitors. The remodeled kitchen and bathroom, and the updated flooring ensure that the home is move-in ready. You will love the storage space in the kitchen, which includes a large pantry. The updated stainless-steel appliances, quartz countertops and natural light from both large and small windows give the kitchen and family room a fresh, bright, and cheery feel and look. This home is a private oasis within the spectacular community of Anthem Country Club which offers anything you could ask for in a Country Club setting. Two Club Houses with restaurants, two fitness centers, tennis, pickleball, bocce ball, two private heated pools and so much more. Come see for yourself, we are certain you will love it!

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5020 E Morning Star Drive Phoenix, AZ 85044

$550,000

3 Beds

2 Baths

1,878 SqFt

Status Active

MLS # 6760957

Property Type Single Family Residence

Price Type --

ENJOY LIVING IN AHWATUKEE'S ACTIVE ADULT COMMUNITY IN THIS COMPLETELY RENOVATED HOME. INVITING OPEN FLOOR PLAN WITH ABUNDANT UPDATES. EAT-IN KITCHEN FEATURES QUARTZ COUNTERTOPS, TILED BACKSPLASH, UPGRADED CABINETRY, GRANITE SINK, PANTRY & STAINLESS-STEEL APPLIANCES. GAS FIREPLACE IN FAMILY ROOM. MASTER SUITE BATHROOM INCLUDES GRANITE COUNTERTOP & WALK-IN SHOWER WITH GRAB BARS. WALK-IN CLOSETS IN SECONDARY BEDROOMS PLUS HALL BATH CONNECTS TO BEDROOM TWO. LAMINATE WOOD FLOORING THROUGHOUT WITH TILE IN THE BATHS. ADDITIONAL ELEMENTS OF REMODEL INCLUDE RECESSED LIGHTING, RAISED-PANEL 3-HINGE DOORS, CUSTOM BASEBOARDS/MOLDING, DUAL-PANE WINDOWS TANKLESS WATER HEATER, SOFT WATER SYSTEM WITH ENTIRE HOME WATER FILTRATION, FRONT & BACK ARTIFICIAL GRASS & COVERED PATIO WITH MISTING SYSTEM.

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3600 W Cobalt Court San Tan Valley, AZ 85144

$550,000

4 Beds

2.5 Baths

2,614 SqFt

Status Active

MLS # 6752633

Property Type Single Family Residence

Price Type --

Welcome to this exquisite 4-bedroom, 2.5-bath residence in The Preserve at San Tan! Discover an inviting great room with high ceilings, recessed lighting, a soothing palette, blinds, and stylish wood-look flooring. The delightful kitchen boasts quartz counters, ample white shaker cabinets, chic pendant lighting, a subway tile backsplash, stainless steel appliances, a walk-in pantry, and an island with a breakfast bar. You'll also find a versatile den, ideal for an office or study. Upstairs, the cozy loft offers additional living space. The serene main bedroom includes plush carpeting, an ensuite with dual sinks, and a walk-in closet. Venture outside to the backyard, featuring a covered patio for al fresco dining and ample space to create your dream oasis. The community also offers a dog park, pickleball court, community grills, outdoor theater/amphitheater, fire pits, walking/biking trails and SO MUCH MORE! Come see it today!

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44049 W Palo Nuez Street Maricopa, AZ 85138

$550,000

3 Beds

2 Baths

1,820 SqFt

Status Active

MLS # 6751432

Property Type Single Family Residence

Price Type --

Elegance, luxury, and practicality combine in this one-of-a-kind home. BEAUTIFUL HOME IN MARICOPA WITH A POOL AND RV GARAGE. The curb appeal is off the charts with a paved driveway, cozy courtyard, and LARGE 45' RV GARAGE. Spacious floor plan with open kitchen concept boasting beautiful granite countertops, oversized pantry, and huge island, all overlooking a great room and backyard. Large primary bedroom with roomy bathroom featuring dual vanities and walk-in shower, but it's the backyard that will capture your attention; mature backyard complete with lots of artificial grass for the little ones, oversized pergola, and REFRESHING SWIMMING POOL for those hot AZ afternoons or weekends with friends. Never pay for RV storage again; come by and look and make this beautiful home yours.

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1171 E Crestridge Drive Casa Grande, AZ 85122

$550,000

7 Beds

4 Baths

3,443 SqFt

Status Active

MLS # 6766760

Property Type Single Family Residence

Price Type --

This impressive 7-bedroom, 4-bath, 2-story home boasts 3,443 sqft of elegant living space, offering both beauty and functionality. The exterior is aesthetically appealing, while the interior feels cozy and bright, with dark wood cabinets and lighter wood-look tile contrasting beautifully with the cream-colored walls. The spacious primary bedroom, located downstairs, features a split layout and a walk-in closet. Additional bedrooms have walk-in closets, providing ample storage. The great room is perfect for gatherings, and the kitchen features a pantry, granite countertops, a kitchen island, and a breakfast bar. Step outside to the covered back patio and envision creating your own oasis in the low-maintenance yard, currently awaiting your personal touch. A 3-car garage completes this home!

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