Home prices dipped slightly in July according to the S&P Case-Shiller 20-City Home Price Index. Year-over-year, home price growth dipped to 5.00 percent from June’s reading of 5.10 percent. The Pacific Northwest led the nation in home price appreciation. Portland, Oregon had the highest year-over-year home price growth with a rate of 12.40 percent. Seattle, Washington posted year-over-year home price growth of 11.20 percent. Denver, Colorado was third with a year-over-year home price growth rate of 9.40 percent.
Home prices in San Francisco, California slowed; year-over-year, home prices grew by 6.00 percent in contrast to home price growth topping the 20-city index in recent months. Analysts observed that cooling home prices in San Francisco could represent the end of the area’s housing bubble.
Year-over-year home price growth was lowest in New York, New York with a reading of 1.70 percent. Washington, D.C. posted a year-over-year reading of 2.00 percent; Cleveland, Ohio posted a year-over-year home price growth rate of 2.50 percent.
Month–to–Month Home Price Growth Provides Surprises
The largest month-to-month gains in home prices were posted by Portland, Oregon at 1.20 percent, Denver, Colorado with a reading of 0.90 percent and Detroit, Michigan with a July reading of 0.80 percent. While year-over-year home price growth readings are less volatile than month-to-month readings, signs of increasing home values in cities with depressed home price growth rates are a positive sign.
On the other hand, San Francisco, California posted a flat reading for month-to-month growth after recently topping year-over-year readings in the 20-City Home Price Index. With skyrocketing prices and limited inventories of available homes, it appears that San Francisco home prices may have reached their upward limit.
David M. Blitzer, Managing Director and Chair of the S&P Index Committee, said that July’s readings indicate further improvement of the economy and housing markets. This progress could prove difficult to sustain as house prices continue to outpace wages and rising home prices continue to sideline first-time buyers. Slim supplies of homes for sale are creating higher-than-average demand for homes that fuels rapidly rising home prices. This further complicates home purchase options for home buyers who compete with investors and others who are able to meet or exceed asking prices and purchase homes with cash.
Home buyers requiring mortgages have been supported by relatively low mortgage rates, but strict mortgage credit standards continue to provide obstacles for credit-challenged buyers. Financial institutions continue to take a conservative stance on mortgage lending after sustaining severe losses and government ridicule in the wake of the Great Recession.
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15221 N Clubgate Drive Unit 1141
Scottsdale, AZ 85254
$674,900
2
Beds
2
Baths
1,401
SqFt
Status
Active
MLS #
6666784
Property Type
Townhouse
Price Type
--
! BACK ON MARKET newly PAINTED upgrade MAY 2024. MOVE IN READY Kierland Greens condo. This roomy 2-bed, 2-bath condo delivers lots of natural light. Large & bright living room with top of the line travertine flooring, crown molding & plantation shutters. Beautiful granite countertops in kitchen with a convenient pantry, stainless steel appliances, and plenty of cabinet space. Primary bedroom provides a private bathroom with dual sinks, a soaking tub, and an enclosed glass shower. Situated near all the action of Kierland Commons, Scottsdale Quarter and stunning golf courses. Easily get your steps in while having fun! Kierland Greens has all the beautiful ammenities one would expect. Very low turnover in this community. Beautifully maintained complex with pool and gym. Make it yours!
3438 W Little Hopi Drive
Phoenix, AZ 85086
$674,900
3
Beds
2
Baths
2,423
SqFt
Status
Active
MLS #
6771166
Property Type
Single Family Residence
Price Type
--
Desirable corner lot with gorgeous shade trees, paver driveway and an RV gate. Large 2423 square foot single level floor plan with a dedicated den off the entry, a large formal dining area and a spacious kitchen with a diagonal island opening to the family room. Great master suite with all the amenities. Lots of storage space throughout. Large laundry room with space for an extra frig or freezer. Neutral color paint and carpet. All appliances included. Private backyard with a large patio for entertaining and a sparkling pool.
1243 N Ambrosia --
Mesa, AZ 85205
$674,900
5
Beds
4
Baths
3,097
SqFt
Status
Active
MLS #
6776563
Property Type
Single Family Residence
Price Type
--
stunning 5 bedroom 4 bathroom completed updated rare basement home with pool. this rare home boasts ample living space, professional designer touches and remodeled by licensed contractor. owner agent with fast answers. home is also available for rent or lease purchase.
1331 S Illinois Court
Chandler, AZ 85286
$674,900
4
Beds
2
Baths
2,334
SqFt
Status
Active
MLS #
6779533
Property Type
Single Family Residence
Price Type
--
Check out this lovely home in PRIME CHANDLER LOCATION! This single level, 2334 sf, 4 bedroom home offers about everything you could possibly need. Open concept floorpan, eat-in kitchen featuring stainless steel appliances, granite countertops, island w/ barstool seating, walk-in pantry and breakfast nook. Primary suite includes soaking tub, separate walk-in glass shower, and large walk in closet. This home sits on a nice cul-de-sac lot and is a great home for entertaining! East facing backyard has pebble-tec pool, built-in BBQ w/ bar seating, and mini fridge and covered patio with misting system and speakers. Charming curb appeal with paver slab for additional parking at RV gate and slab behind gate for all your toys! Garage features epoxy floors, built-in cabinets with workbench, and storage racks. All around GREAT HOME and Chandler Excelling Schools.
3040 Hoskinini Circle
Prescott, AZ 86305
$674,900
3
Beds
3
Baths
3,288
SqFt
Status
Active
MLS #
6722206
Property Type
Single Family Residence
Price Type
--
Welcome to this inviting home, nestled on a secluded ½ acre homesite in the Tonkawa neighborhood. Surrounded by mature pine trees, this property offers a sense of tranquility and privacy. A gated circular drive leads you to this split-level entry home, ideal for multi-generational living with separate living spaces and entrances all under one roof. The main level boasts a formal living room with large picture windows that bathe the space in natural light, centered around a charming brick-surround gas fireplace. The kitchen is a chef's delight, featuring gleaming granite counters, pendant lighting, a tray ceiling, breakfast bar, and an adjacent dining area. The master suite offers gorgeous wood floors, two closets, a full bath & an adjoining sitting room/office, creating a serene retreat. Additionally, the enclosed 14' x 10' Arizona room (not included in the square footage) provides flexible space for your needs. The lower level, currently configured as two apartments each with its own private entrance, features two bedrooms, two bathrooms, a family room, a full kitchen, and ample storage space, making it perfect for extended family or rental income. Step outside to enjoy the park-like backyard, which has hosted numerous weddings thanks to its picturesque setting. The outdoor area includes a spacious back deck, private patio, garden area, detached 2-car garage, large shed, and plenty of room to relax or entertain. Meticulously maintained over the years, all three buildings received new roofs in early 2024. Don't miss the chance to own this elegant, functional, and naturally beautiful property, offering endless possibilities for multi-generational living or investment.
1026 E Lodgepole Drive
Gilbert, AZ 85298
$674,900
4
Beds
2
Baths
2,400
SqFt
Status
Active Under Contract
MLS #
6787602
Property Type
Single Family Residence
Price Type
--
Welcome to this stunning single-level home built in 2010 located in Felty Farms. Boasting 4 generously sized bedrooms and 2 large bathrooms, this home offers comfort, style, and functionality. Enjoy this inviting home with plenty of natural light and open floor plan. Walk into your spacious kitchen overlooking the living room. Enjoy the eat-in kitchen, double oven, large island, gas cooktop, ample cabinet space, and pantry. Gather with family and friends in the formal dining area or family room area, whichever you choose to make it. Step into your large primary suite, which includes a huge walk-in shower, dual sinks, separate toilet area, and spacious walk-in closet. Walk outside into your beautiful backyard with a built-in fire pit and custom landscaping. The 3-car garage is ideal for extra space to park, added storage, or home gym. Do not miss an opportunity make this Gilbert gem your own!
1806 E La Jolla Drive
Tempe, AZ 85282
$674,900
4
Beds
3
Baths
2,624
SqFt
Status
Active
MLS #
6770770
Property Type
Single Family Residence
Price Type
--
Welcome to 1806 E La Jolla Dr where you'll find class and comfort wrapped up into this spacious 2,624 sq ft single story fully remodeled home located in the heart of everything Tempe. Entering you'll find a foyer to greet your guests and provide privacy from your main living quarters. The oversized front living room with a huge picture window can be turned into a den, office, game-room etc. You'll then be lead into the gorgeous oversized dining room. The size of this room also gives you so much leeway to create the most amazing built in buffet with extra storage or drink station etc so many possibilities. Let's head into the great-room where you'll be happy to find gorgeous quartz countertops, new shaker cabinets, backsplash and matching LG appliances. Another feature you'll find is the wood burning fire place that will create the coziest setting for those cooler winter months or rainy days snuggling on the couch. Now let's talk bedrooms, not too often do you find two true primary suits. This is one of the best features of this house. You'll have so much flexibility for your ever changing lifestyle needs. Each primary room has an en suite and one has a brand new slider that leads to the backyard. The two other bedrooms are large in scale as well and provide ample space for any age. There is a third full bathroom in this house as well which is not that common in this area and provides so much convenience. Roughly 70 LED can lights were added during the remodel to provide that light, bright and airy feeling we are all searching for. All new light switches with dimmers, New AC installed in 2023 and new underlayment in 2019, new water heater installed in 2024 so all your major mechanical components are taken care of. This is a must see home with so much attention to detail.
2323 N Central Avenue Unit 705
Phoenix, AZ 85004
$674,900
2
Beds
2
Baths
1,398
SqFt
Status
Active
MLS #
6723457
Property Type
Apartment
Price Type
--
This historic mid-century landmark graces the Phoenix skyline with its timeless presence. Step into unit #705 and discover a truly unique, turnkey living space, meticulously designed with porcelain tile floors, quartz countertops, bespoke cabinetry, stainless steel appliances, induction stove and exquisite designer touches at every turn. The open-concept layout boasts floor-to-ceiling windows and custom patio doors that frame stunning vistas of the Midtown skyline and mountains. A spacious private balcony offers serene views of the pool and lounge area, seamlessly blending indoor and outdoor living. Enjoy an array of upgrades and exceptional amenities including ''HOA-covered'' utilities, assigned underground parking, round-the-clock concierge service, and more. Perfectly situated within walking distance of Midtown's vibrant offerings, this is more than just a homeit's your sanctuary. Welcome to your new oasis at the Regency on Central!
656 W Johnson Drive
Gilbert, AZ 85233
$674,900
4
Beds
2
Baths
2,374
SqFt
Status
Active
MLS #
6739611
Property Type
Single Family Residence
Price Type
--
Discover your dream home in this exceptional property, boasting a spacious three-car garage and a host of upscale features. The beautifully designed primary bathroom offers a tranquil retreat, while the expansive kitchen is a chef's delight, featuring a wine cellar and a high-end Sub-Zero refrigerator/freezer. Set on a generous lot, this residence includes a sparkling pool with a diving board, perfect for entertaining and relaxation. Plus, enjoy the benefits of a solar savings! This home seamlessly combines luxury, comfort, and efficiency, making it a must-see!
9292 E Dreyfus Place
Scottsdale, AZ 85260
$674,900
3
Beds
2
Baths
1,720
SqFt
Status
Active Under Contract
MLS #
6745860
Property Type
Single Family Residence
Price Type
--
This stunning 3-bedroom single-level home in Scottsdale is a true gem, offering the perfect blend of comfort and convenience. With vaulted ceilings and elegant plantation shutters throughout, the open and airy design creates a welcoming atmosphere. The wood flooring adds a touch of sophistication, while the corner lot position provides added privacy and a lovely view of the community park. The open kitchen seamlessly flows into the family room, making it ideal for both everyday living and entertaining guests. Enjoy a lifestyle of ease with everything you need just moments away: movie theaters, diverse dining options, grocery stores, Scottsdale Shea Hospital, the McDowell Mountain Preserve, and an array of shopping opportunities.
2110 S Portland Avenue
Gilbert, AZ 85295
$674,900
4
Beds
2.5
Baths
2,667
SqFt
Status
Active
MLS #
6774251
Property Type
Single Family Residence
Price Type
--
Stunning Home in a Quiet, Secluded Neighborhood. This impressive residence sits on a spacious 10,554 sqft lot, offering a fantastic location just a short walk from San Tan Mall and a variety of amazing restaurants. Step inside to discover a terrific open floor plan, featuring a dramatic entryway and a beautiful mission-style staircase that wraps around the upper level. The master suite is conveniently located downstairs, while all other bedrooms are upstairs, along with a generous loft area. Each bedroom is well-sized, and the large laundry room adds to the convenience. The eat-in kitchen and upgraded flooring enhance the home's appeal, while the 3-car garage provides ample storage. Enjoy the privacy of having no neighbors to the south or behind you! SEE MORE... The backyard oasis features lush artificial grass and a sparkling pool, all beautifully designed with plenty of pavers. Plus, there's an RV gate and parking behind the gate. Your buyers will fall in love with this exceptional home!
20447 N 266th Avenue
Buckeye, AZ 85396
$674,900
2
Beds
2
Baths
2,323
SqFt
Status
Active
MLS #
6771161
Property Type
Single Family Residence
Price Type
--
Welcome to this Copper Canyon Golf Course Home with expansive Mountain Views. The popular FIESTA model is located in the heart of Sun City Festival, near the Sage Rec Center, Golf Pro Shop & Indigo Grill. This 2,323 sqft home sits on an elevated 9,200 sqft lot. Enter the private courtyard and discover an open floor plan with 10' ceilings showcasing tile floors w/marble inserts. The Chef's dream kitchen offers cherry cabinets, granite countertops, kitchen island, 5 burner gas cooktop, SS appliances & breakfast nook. After a day of fun in this active 55+ community, retire to your large Owner's Suite w/patio doors, spacious ensuite w/dual vanities, tiled shower, soaking tub & roomy closet w/custom built ins. This home is truly an entertainer's delight w/extended paved patio, built in BBQ firepit & LUSH GOLF COURSE BACKDROP. Both interior & exterior were recently painted & new HVAC was installed in 2021. The 3 Car garage w/built in storage; large laundry room w/sink & leased solar complete the package for a perfect Desert Oasis.