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

Case-Shiller: Home Price Growth Expands to All Metro AreasMarch 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.

16766 W Yucatan Drive Surprise, AZ 85388

$539,990
4 Beds
3 Baths
2,352 SqFt
Status Active
MLS # 6754869
Property Type Single Family Residence
Price Type --
MLS# 6754869 January Completion! Introducing the Hudson, a spacious single-story floor plan featuring 2,352 square feet of well-designed living space. With 4 bedrooms, 3 bathrooms, a 2-car garage, and a study, this home offers both comfort and versatility. As the largest of our single-story homes, it makes a lasting impression. Step into the inviting foyer, which leads to a hallway lined with 3 bedrooms and a study, where double doors can be added to create a peaceful home office. Continue through to the expansive open-concept kitchen, dining, and gathering room, ideal for seamless entertaining. Enjoy the beautiful Arizona weather from your own private outdoor living space. Structural options include: marble super shower at owner's bath, gas line for future outdoor kitchen, gas line for future outdoor kitchen, 8' interior doors, and paver front porch.

7914 N 80th Avenue Glendale, AZ 85303

$539,990
5 Beds
3 Baths
2,082 SqFt
Status Active
MLS # 6761645
Property Type Single Family Residence
Price Type --
Welcome to Ambra conveniently located in desirable Glendale, minutes to shops, restaurants, entertainment and the 101 Hwy! This Orinoco plan home is beautifully designed with our curated Loft inspired interior selections. The kitchen features 42'' white cabinets with brushed nickel hardware, quartz countertops, and convenient breakfast bar. The great room is perfect for relaxing or entertaining. The split floorplan makes the primary suite a quiet retreat away from the secondary bedrooms. Beautiful faux wood tile flooring and cozy carpet in bedrooms complete this move-in ready home! ^^^Short/long term interest rate buydowns available when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

4655 N 177th Drive Goodyear, AZ 85395

$539,990
5 Beds
3 Baths
2,530 SqFt
Status Active
MLS # 6771725
Property Type Single Family Residence
Price Type --
BRAND NEW, energy-efficient home available in GATED COMMUNITY! The showstopper single-level Bailey floorplan boasts a charming front porch, 5 bedrooms each with a spacious walk-in closet and a 3-car garage! This home offers white cabinets with quartz countertops in the kitchen, grey tile flooring and carpet in bedrooms. ALREADY INCLUDED - washer, dryer, window blinds (except slider), refrigerator, soft water loop and more!!!! Residents enjoy amenities right at their doorstep including parks, pickleball, soccer, play area, walking trails, basketball court, ramada with outdoor kitchen, gas grill and fireplace, and more!!! Each home is built with innovative, energy-efficient features designed to help you enjoy more savings!

1478 W J Waltz Way Apache Junction, AZ 85120

$539,990
4 Beds
3 Baths
2,233 SqFt
Status Active
MLS # 6773334
Property Type Single Family Residence
Price Type --
Welcome to Blossom Rock! The east valley's newest master planned community. With views of the Superstition Mountains and a wealth of amenities currently in the making including three community parks, dozens of neighborhood parks, a community school, miles of trails, beautiful lakes, and indoor and outdoor gathering spaces all meant to serve as the backdrop of the calendar of signature events and annual celebrations currently being created. A public report is available on the Arizona Department of Real Estate website.

14314 W Alameda Road Surprise, AZ 85387

$539,990
3 Beds
2.5 Baths
2,379 SqFt
Status Active
MLS # 6783956
Property Type Single Family Residence
Price Type --
MLS#6783956 March Completion! Set in the scenic enclave of Rancho Mercado in Almeria, the Plan 45RM2 residence embodies modern sophistication and refined living. This carefully designed single-level home features three spacious bedrooms, a versatile flex room or office, 2.5 beautifully appointed bathrooms, and an expansive 3-car tandem garage. At the heart of the home lies an open-concept living area that seamlessly integrates the great room, dining area, and gourmet island kitchen, combining functionality with a touch of elegance. Structural options include: paver front porch, flex in lieu of bedroom 2, 8' interior doors, and soft water loop.

10919 N 81st Avenue Peoria, AZ 85345

$539,990 - 4Br/3Ba -  for Sale in Turner Add, Peoria
New
$539,990
4 Beds
3 Baths
1,993 SqFt
Status Active
MLS # 6787777
Property Type Single Family Residence
Price Type --
BRAND NEW BUILT!! With no HOA.This home features a Large Open floor plan with 9ft ceilings, with Large Living Room and Dinning area. Kitchen with White Cabinetry and Granite Counter top and stainless Steel appliances. Tile throughout the high traffic areas of the house and new carpet in bedrooms. The house layout provides an open space feeling from the moment you enter the front door. All bedrooms are very good size and bathrooms are upgraded with tile. Rv gate on side of the house . Back yard is ready for your dream back yard to be build. The best of all is that you are moving into a NEW HOUSE WITH NO HOA!

245 S 165th Avenue Goodyear, AZ 85338

$539,990
4 Beds
3 Baths
2,456 SqFt
Status Active
MLS # 6692716
Property Type Single Family Residence
Price Type --
QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! It's the stunning Amethyst with 4 bedrooms, 3 full baths and large laundry room. Multi slide door off the great room perfect for entertaining. Cooks dream kitchen includes a stainless steel gas appliance package with a 30'' cooktop, wall oven, glass canopy hood. Pull out trash drawer with two bins. Single bowl white undermount sink. Tahoe Maple slate (Gray) cabinets with AZT Della Terra quartz Linen countertops in kitchen and owner's bath. Upgrade flooring includes EMS Riverside Firenza 20x20 tile in all areas of the home except bedrooms& closets. Kitchen back splash had 1 x 3 Mosaic Herringbone tiles. Dual sink at bath 2. Interior two tone paint in Moth Gray. 8' tall garage door and garage service door. Please verify all information with onsite agent. Thank you!

25520 S 227th Street Queen Creek, AZ 85142

$539,990
3 Beds
2.5 Baths
2,224 SqFt
Status Active
MLS # 6754239
Property Type Single Family Residence
Price Type --
QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! Crimson with 4 bedrooms and a 2.5 baths and 3 car tandem garage. 12'x8' sliding glass door that leads out to the extended covered patio. Pavers at drive, walk and entry. Stainless steel gas appliance package with 30'' cooktop, wall oven, hood. Barnett Maple Slate (Gray) cabinets with 42'' kitchen uppers and pullout trash drawer. AZT Della Terra Quartz Linen countertops in kitchen and on the enhanced island. Stainless steel undermount single bowl sink. Upgrade flooring includes Wood laminate EV Wood Vennice Kaki Oak in all areas of the home except beds/closets. Garage service door, 8' tall garage door opener with two remotes, dual sinks at bath 2 and so much more. Please verify all information with onsite agent . Thank you!

15992 N Gil Balcome Street Surprise, AZ 85374

$539,990
5 Beds
2 Baths
1,955 SqFt
Status Active
MLS # 6724780
Property Type Single Family Residence
Price Type --
35K PRICE REDUCTION!! Stunning Fully Remodeled 5-Bedroom Home w/ Luxurious Features This remodeled, move-in-ready home boasts 5 bedrooms & 2 baths on an oversized lot backing to a serene Greenbelt. The gourmet kitchen features custom cabinetry, chef's kitchen appliance package, pot filler, large granite sink, quartz countertops and an oversized island. Wood tile flooring t/o, 10 ft ceilings, upgraded paint, 5 1/2 in baseboards, new doors, and dual-pane windows provide style and efficiency. Luxury baths with dual sinks and floor to ceiling tile. Master Suite features a custom master closet. Laundry room with new GE washer/dryer and cabinetry storage. Outdoors, enjoy a landscaped yard, Pebble Tech Pool, 12x43 covered patio, 12ft RV Gate and 5 car driveway. Move in ready & waiting for you!

16479 W Silver Creek Drive Surprise, AZ 85374

$539,950
2 Beds
2 Baths
1,934 SqFt
Status Active
MLS # 6777147
Property Type Single Family Residence
Price Type --
Be the proud owner of this charming property located in The Grand Lake Subdivision! This large Corner lot welcomes you with a manicured desert landscape & a 2-car garage. High ceilings, wood-look flooring plantation shutter, & an open floor plan await you inside. The spacious great room enjoys large windows, sliding doors to the backyard & a charming fireplace. The kitchen features plenty of wood cabinets, built-in stainless steel appliances, granite counters, & a breakfast bar. The convenient open den provides the ideal space for a media room. Double doors open to the serene main bedroom, boasting bay windows & an ensuite w/dual sinks, a sit-down shower, & a large walk-in closet. Owned Solar is another bonus of this gorgeous home! The lovely back patio enjoys a built-in BBQ, paver seating area, & lots of space for hosting gatherings. Do not miss the many sports courts, sprawling walking green belts, gorgeous lake views, & many facilities like the music hall & recreational center that this Community has to offer. This value won't disappoint!

1533 E Kramer Street Mesa, AZ 85203

$539,950
4 Beds
2 Baths
1,543 SqFt
Status Active
MLS # 6784460
Property Type Single Family Residence
Price Type --
Welcome to this beautiful, fully remodeled home in one of the best parts of Mesa! This home features a 2 car garage, extended driveway and an RV gate - the property also does not have an HOA! Inside you will find 4 bedrooms and 2 full bathrooms. The backyard has a bocce ball court, putting green and a space for you to park your toys behind the rv gate. The backyard features mature trees and an extended patio for the ultimate outdoor experience. You will find that this backyard is very peaceful and quiet. Capitalize on this opportunity to own a great home in a wonderful neighborhood! Ask about how you can purchase the home fully furnished!

16525 E Avenue Of The Fountain Avenue Unit 201 Fountain Hills, AZ 85268

$539,900
3 Beds
2 Baths
1,942 SqFt
Status Active
MLS # 6679498
Property Type Apartment
Price Type --
This former model in Town Center Crossings is a spacious and well-appointed single-level unit with no upstairs neighbors, offering privacy and convenience. With 3 bedrooms, 2 bathrooms, and an additional office/den space, there is plenty of room for both living and working. The 1-car garage with direct entry access, complete with built-in cabinets, provides ample parking and storage space. The property is ideal for those seeking a comfortable and functional living space in a desirable lock and leave location.