Fed Monetary Policy: No Rate Increase in June

According to its post-meeting statement issued Wednesday, the Federal Open Market Committee of the Federal Reserve voted not to increase its target federal funds rate. The target federal funds rate will remain at 0.250 to 0.50 percent.

Based on review of current and anticipated financial and economic events, the Committee cited slowing job growth and momentum of inflation-based compensation as reasons supporting its decision. While the national unemployment rate recently fell to 4.70 percent, FOMC members saw room for growth in employment. Unemployment rates are calculated based on active workforce members and do not include those who are under-employed or who have left the workforce. Global influences on the Fed’s monetary policy include uncertainties about China’s economy and the possibility that the United Kingdom may exit the European Union.

Housing markets and household spending improved, but the Fed cited lagging business investment and dismal jobs growth as concerns that led to a unanimous decision not to raise the federal funds rate.

Analysts characterized FOMC members as being “dovish” as compared to previous meetings. Only one member expected a single rate increase this year at the April meeting, but six members expected only one rate increase at June’s meeting.

In a post-statement press conference, Fed Chair Janet Yellen said that while a rate increase is possible at FOMC’s July meeting, she noted that there is no post-meeting press conference scheduled, which would make it more difficult for the Fed to explain its decision. Analysts also said that a rate increase is unlikely in September in advance of national elections in November.

Inflation remains below the Fed’s goal of two percent and is expected to do so for the short to medium term.

Fed Chair Cites Changing Economic Conditions, Forecasts Incremental Rate Hikes

Fed Chair Janet Yellen said during her post-meeting press conference that current economic conditions indicate that gradual rate hikes are needed to ensure ongoing economic growth. Rate hikes, when and if they occur, would increase very slowly and are expected to remain “accommodative.”

Clair Yellen said that each FOMC meeting is “live,” which means that meeting agendas and actions can flex according to current developments that influence monetary policy. The FOMC has repeatedly said that its decision-making is primarily based on members’ constant evaluation of developments affecting domestic and global economies.

37200 N School House Road Cave Creek, AZ 85331

$5,295,400
4 Beds
4.5 Baths
4,503 SqFt
Status Active
MLS # 6634118
Property Type Single Family Residence
Price Type --
'Pre Construction Offering, a signature 'Mountainside Gated Enclave' of Contemporary Estate Residences by Mosaic Luxury Homes. Pure privacy, nestled into the upslope of Black Mountain at over 2500 elevation, this 4503 sq. ft. Desert Modern Home is architecturally stunning and features over 3200 sq. ft. main level living. Fabulous Great Room with expansive covered veranda, temp controlled glass enclosed wine room, luxurious Owner's Suite, elevator lift and the most incredible 270 degree views. The lower level Guest Home has separate entrance, kitchen living room, large Jr. Suite and charming private patio. Mosaic Luxury Homes offers elegant owners suites, chef inspired kitchens, designer garages, resort outdoor living and superior design and craftsmanship.

13330 E Jomax Road Scottsdale, AZ 85262

$5,250,000
3 Beds
3.5 Baths
4,764 SqFt
Status Active
MLS # 6754006
Property Type Single Family Residence
Price Type --
Welcome to this prime, 20 acre desert location near Scottsdale's iconic landmarks. Located directly adjacent to the McDowell Mountain Preserve and at the end of a paved, dead end road, you will find this stunning, pristine lot covered with the boulders that make the McDowell mountain park region unique. These formations are part of the broader landscape of the Sonoran Desert, which is known for its dramatic geological features. The combination of the desert environment with these ancient, weathered granite boulders creates a unique ecosystem and visual experience. The proximity to McDowell Mountain Park means that outdoor enthusiasts have direct access to miles of non motorized trails for hiking, biking, and trail riding right from their doorstep. At the heart of this exquisite parcel is a 4,700 square-foot custom home designed to complement the surrounding environment. The home features expansive windows and doors in every room to the outdoor living spaces that takes full advantage of the breathtaking 360' views of the Four Peaks, Granite Mountian, McDowell Mountain Range and the surrounding desert landscape. The architecture includes elements like stone and wood, harmonizing with the natural terrain. The master bedroom, complete with its own fireplace, has its own exit to the pool and spa which overlooks Tom's Thumb while the guest room and attached casita open to the north patio to take in the views of granite mountain. Views are amazing from EVERY room. The great room, chefs kitchen and custom wet bar ensure plenty of space for entertaining or just enjoying the cozy fireplace. Additionally the large and fully equipped attached casita is perfect for family or out of town guests with their own access to enjoy your time with them but allows everyone their own space. Head outside to find the 12 stall mare motel with 60' runs, lights and automatic waterers located right next to the 8 horse Priefert walker. Also noteworthy is the BRAND NEW, high producing well!! The arena is huge at 150 x 300 with new footing and plenty of parking for trailers if your friends come over to rope, trail ride or just hang out. This area is surrounded by upscale communities, with nearby luxury homes and ranch estates that take full advantage of the natural beauty and privacy the desert offers. While the setting provides a peaceful retreat, the property remains conveniently located just minutes away from world-class golf courses like Troon North, Desert Mountain, and Estancia and is just a short drive from Scottsdale's fine dining, boutique shopping, and cultural attractions, ensuring that convenience meets tranquility in this desert oasis.

8300 E Dixileta Drive Unit 263 Scottsdale, AZ 85266

$5,250,000
4 Beds
4.5 Baths
6,700 SqFt
Status Active
MLS # 6772092
Property Type Single Family Residence
Price Type --
VIEWS, VIEWS, VIEWS! This remarkable property features the largest lots in Sincudados, with an adjacent acre available for building another home, RV garage, or pickleball court. Perched 600 feet up Lone Mountain on 3.4 acres, this organic Pueblo-style home was designed by architect and Master of the Southwest, Lee Hutchison. The custom home radiates warmth and Southwest charm with its polished concrete floors, viga accent beams, and adobe brick walls. The expansive great room flows seamlessly into a gourmet kitchen, featuring top-of-the-line appliances, including a Viking Professional 6-burner range, a stunning 24K gold farm sink, and hand-painted tile accents. The luxurious primary suite is a true retreat, complete with separate his and hers areas, a gas fireplace, and electric blinds for added privacy. The spa-like bath boasts a jacuzzi soaking tub with mountain views and a custom tile steam shower...With eight gas fireplaces throughout, the home ensures warmth and comfort in every space. A detached casita offers ultimate privacy for guests while providing expansive city light views. Step outside to discover an outdoor oasis featuring a heated infinity edge pool with a dark pebble finish, a heated jetted spa, and multiple covered flagstone patios. An outdoor kitchen equipped with a Viking BBQ completes this entertaining paradise. The oversized four-car garage includes new epoxy flooring and built-in cabinets, providing ample storage and functionality. Nestled in the vibrant community of Sincuidados, residents enjoy a variety of amenities, including pickleball, tennis, and wine tastings. This exceptional property combines luxury, space, and stunning views, don't miss your chance to make it your own!

10801 E Happy Valley Road Unit 132 Scottsdale, AZ 85255

$5,250,000
5 Beds
6.5 Baths
7,060 SqFt
Status Active
MLS # 6772486
Property Type Single Family Residence
Price Type --
This home is an architectural gem with a truly timeless feel, on the market for the first time since winning the Arizona Home of the Year / Honor Award in 2001. Designed by the renowned architect Gordon Rogers, this estate embodies the best of organic contemporary architecture. This is a rare opportunity to own a masterpiece in the exclusive, guard-gated community of Glenn Moor at Troon Village. Known for creating homes that merge seamlessly with their natural surroundings, Rogers' vision is evident throughout this property, which has been thoughtfully updated by its current owners while preserving its original design integrity. The estate's layout is divided by a natural arroyo, which created the perfect design opportunity to connect the guest house on one side with the main... residence on the other, for an organic flow. The dramatic approach takes guests up broad concrete steps and across a bridge, culminating in a striking 9-foot-wide pivoting entry doora bold first impression. The main house offers 6,030 square feet of meticulously crafted living space, with an additional 1,030 square feet in the detached guest house, bringing the total to 7,060 square feet. Inside, the great room stuns with a soaring ceiling with beautiful tongue and groove wood, supported by four concrete columns and two sculptural steel fins, and is framed by high clerestory glass walls that capture panoramic views of the surrounding mountains. The floating roof, with its cantilevered ends, mirrors the curves of the land and the infinity-edge pool, both of which reflect the natural topography. Hand selected from the quarry, the Utah sandstone found throughout the home blends harmoniously with the desert landscape. The same stone is used for both walls and floors, creating a seamless flow from the interior to the outdoor spaces. A real once-in-a-lifetime estate that truly encompasses architectural feats known only to select residences. Offering a perfect blend of cutting-edge architecture, natural beauty, and modern upgrades, this home is designed for the discerning buyer seeking a uniqueness rarely made available. Most furnishings and accessories available by separate bill of sale.

10284 E Running Deer Trail Scottsdale, AZ 85262

$5,250,000
4 Beds
6 Baths
6,219 SqFt
Status Active
MLS # 6774364
Property Type Single Family Residence
Price Type --
Stunning newly built home situated on Troon North Golf course in Estancia. With views of Pinnacle Peak out the front and golf course and mountain views in the back this contemporary home is truly Arizona resort living. Completed in 2020, this single level has an inviting open floor plan. The great room opens up to the perfect indoor/outdoor space with disappearing wall of glass overlooking the pool/spa, outdoor kitchen , dual fire-pits and multiple patio seating areas. all overlooking the golf course ! Inside the chef's kitchen has top of line appliances including walk in butler's pantry with refrigerator , and huge oversized island with double-sided cabinetry. The primary suite has it's own patio and separate exercise room and a redesigned closet of your dreams.

6921 N Joshua Tree Court Paradise Valley, AZ 85253

$5,250,000
4 Beds
5 Baths
4,927 SqFt
Status Active
MLS # 6785024
Property Type Single Family Residence
Price Type --
Experience luxury living in this brand-new contemporary home in Azure. Designed with expansive open spaces, stacking door systems, and rich hardwood flooring, this home seamlessly blends indoor and outdoor living. The gourmet kitchen features premium Gaggenau appliances, a large island, loads of storage and gas cooking, perfect for culinary enthusiasts. Primary suite is large, with stacking doors to the backyard, a large bath with quartz counters, separate tub and shower and a huge closet. Entertain in style with a media room and chic bar. The separate guest house is fantastic. Outside is a private oasis with a heated pool, spa, and fire feature. Complete with a 3-car garage, this home offers a lifestyle of sophistication and modern flair perfectly situated in Paradise Valley.

5014 E Desert Park Lane Paradise Valley, AZ 85253

$5,250,000
4 Beds
3.5 Baths
4,780 SqFt
Status Active
MLS # 6777608
Property Type Single Family Residence
Price Type --
Situated behind a canopy of mature trees, a serene private mountain view home in the heart of Paradise Valley was artfully reimagined in 2022. This 4780sf Jewel Box Smart Home speaks to those who appreciate quiet luxury. Exquisite finishes include Italian finished cabinetry, Italian porcelain and French White Oak flooring, quartzite stone counters, Miele Appliances, and marble spa baths. The open floor plan offers high ceilings ushering light through glass walls and floor to ceiling Pella windows bringing the outdoors in. Entertain seamlessly from the private front courtyard, to a lounge with a stunning bar/wine cellar, onto the great room and opening onto a beautiful backyard entertaining space with grill, pizza oven, pool. No detail was left unattended in this like new property.

6001 N 44th Street Paradise Valley, AZ 85253

$5,250,000
6 Beds
8 Baths
7,966 SqFt
Status Active
MLS # 6775549
Property Type Single Family Residence
Price Type --
Exclusive Camelback Mountain Estate with Unrivaled Views. Nestled on over an acre of prime real estate, this extraordinary 7,966 SF custom estate offers unparalleled views of Camelback Mountain, with walls of retractable glass that frame the breathtaking scenery from every public space. Designed for both grand entertaining and luxurious living, this 6-bedroom, 8-bathroom estate includes a spacious 580 SF attached guesthouse, 4-car garage, and a wealth of exceptional features.An entertainer's dream, the home boasts a professional-grade catering kitchen that has hosted events for up to 250 guests, including high-profile dignitaries. Expansive wings offer multiple family and recreation rooms, a state-of-the-art theater, and a stunning outdoor living area complete with a fireplace, spa, outdoor kitchen, grassy play area, and view deck. The private owner's wing is a true retreat, offering a double office, a sitting area with a fireplace, a fitness room or secondary office, and direct access to the private backyard. The luxurious master bath features double sinks, a Jacuzzi tub, separate make-up area, his-and-her closets, and separate toilet rooms. The attached guesthouse is perfect for multigenerational living or as a private space for a nanny or live-in aide, with its own large bath, kitchenette, and generous closet space. With room for your own personal touches, this estate is a rare opportunity to live in one of the most coveted locations in the Valley. The views of Camelback Mountain are simply spectacular and must be seen to be fully appreciated! Other key features include: - High ceilings for a bright, spacious and airy feel. - Motorized sliding doors for seamless indoor-outdoor living. -Custom lighting throughout, including a 250 lb. chandelier at the front entry. -Two family rooms so there are separate entertaining spaces for kids/guests and adults. -Hand painted ceilings and walls

9877 E Miramonte Drive Unit 280 Scottsdale, AZ 85262

$5,250,000
5 Beds
6.5 Baths
5,750 SqFt
Status Active
MLS # 6753464
Property Type Single Family Residence
Price Type --
Stunning Desert Mountain contemporary home on a terrific lot. Built by leading luxury home builder - Black Stone Custom Homes, this gem is located in the 2nd closest village to the front gate of the Desert Mountain community and an easy walk to the brand new Renegade Clubhouse and practice park. Less than one-year new, this home offers a great room floor plan, 5 suites, one of which is a detached casita, outstanding outdoor living space with two fireplaces, fire feature, 7 outdoor Infrateck ceiling heaters and 3.5 car air conditioned garage. Built with outdoor living in mind and to capture the Continental Mountains and sunset views, the retractable walls of glass allow the outdoors in. Some of the updated features include: 1) Crestron automation system throughout the entire home controlling music and lighting, 2) upgraded Awake windows featuring larger glass size, thinner profiles, heavy duty rollers for easy retractable open and close, enhanced R values, 3) entire home water purifying system, 4) additional full size refrigerator in pantry, 4) DCS 48 Evolution Built in Grill, and 5) automated shades throughout the home. This home was designed by one of the leading home designers in Desert Mountain - Graffin Design. See Document tab for Update list

10261 E De La O Road Scottsdale, AZ 85255

$5,200,000 - 5Br/6Ba -  for Sale in Skye View By Camelot, Scottsdale
Open House
$5,200,000
5 Beds
6 Baths
5,570 SqFt
Status Active
MLS # 6761171
Property Type Single Family Residence
Price Type --
Extraordinary opportunity to skip the wait to build. Just completed Farmhouse Contemporary in the extraordinary private-gated community of Camelot's Skye View w only 21 award winning homes. World class views of Pinnacle Peak & the McDowells in the heart of North Scottsdale's most iconic golf communities. The stunning interior offers wall to wall French Oak floors, Great room with fireplace, Gated courtyard, Separate casita + seamless indoor-outdoor living. The award winning design has a south facing backyard nestled under the majestic McDowell Mountains and tucked into the back of the community offering peace and tranquility. Perfect outdoor living w 2 large sliding doors that open seamlessly onto the courtyard and backyard with generous patios and living spaces. Entertaining perfection is complete with pool, spa and fresh landscaping. Just minutes from Scottsdale's best dining, shopping, hiking, recreation.

4450 E Green Reservoir Road Eloy, AZ 85131

$5,200,000
4 Beds
2 Baths
2,200 SqFt
Status Active
MLS # 6729530
Property Type Manufactured Home
Price Type --
BEAUTIFUL TREE LINED ±360 ACRE FARM with AMAZING MOUNTAIN VIEWS, EQUESTRIAN FACILITIES & MULTIPLE HOMES! Currently growing alfalfa & offering farm hand housing, cotton gin building, hay barns, over 50 RV hook ups, over 30 pens, ±30 covered horse stalls, corals, an arena, fenced pastures & riding trails. All the infrastructure was thoughtfully designed to host rodeos & board horses. The main residence has a split great room floor plan with vaulted ceilings, large kitchen, 4 bedrooms, 2 bathrooms, family room with fireplace, office with separate entrance & full length covered porches. The second residence has been recently renovated with rustic charm & boasts 3 bedrooms with wrap around covered patios.. CAIDD provides water for ±316 farmable irrigated acreage. Owned well sustains 40 acres.

22439 N 89th Street Scottsdale, AZ 85255

$5,195,000
4 Beds
4.5 Baths
5,147 SqFt
Status Active
MLS # 6756386
Property Type Single Family Residence
Price Type --
Modern Farmhouse in desirable White Horse community! This 5147 sf single level home is located one of Scottsdale's hottest neighborhoods due to its amazing architecture and convenient location. Set on nearly .7 acres, this site is regarded as the best lot in Whitehorse due to its orientation, deep backyard, open space behind and stunning McDowell Mountain views from the back. Desirable single level floorplan features 4 bedrooms and a media room/bonus room, along with a 4 car garage. The great room and kitchen have an open-concept design, featuring glass pocket doors that seamlessly connect to the front and back covered patios—perfect for enjoying Arizona's mild weather and entertaining guests. Private backyard oasis is anchored by a stunning pool surrounded by lush turf and captures sweeping mountain views. State of the art features include Wolf/Subzero kitchen appliances, double dishwashers, brick accent wall in kitchen, wide plank white oak flooring, beamed truss ceilings, built in media wall in bonus room, quartz and limestone counter tops, 3 tankless water heaters and a separate dog wash in laundry room. Whitehorse is conveniently located just north of DC Ranch in North Scottsdale, 1 mile from the shopping /dining of Market Street, and minutes away from the Loop 101. Please preview to see why this address is in such high demand!