S&P Case-Shiller: Home Price Growth Slows in July

brick-houseHome 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.

MonthtoMonth 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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15101 W Waterford Drive Surprise, AZ 85374

$650,000
2 Beds
2.5 Baths
2,406 SqFt
Status Active
MLS # 6778489
Property Type Single Family Residence
Price Type --
Experience resort-style living with this elegant home offering unparalleled views! Nestled on a prime golf course lot in the Sun City Grand community, this immaculate 2 bedroom, 2.5 bathroom home with a den showcases breathtaking panoramic views of the golf course and distant mountains. The open floor plan is designed for both comfort and style, with the outdoors in and a media center wall with a custom fireplace, perfect for cozy gatherings. The dream kitchen is equipped with Corian countertops, mosaic tile backsplash, skylight, and stainless steel appliances. The large primary bedroom has a slider to the patio. Ensuite features double sinks, a jetted tub, and a huge walk-in closet. Secondary bedroom with full private bathroom is perfect for your guests. Outside, relax in your private backyard oasis with a spacious covered patio, a built-in BBQ, cool decking, a custom waterfall, and a serene pond surrounded by a pony wall. The 2-car garage with a separate golf cart garage is finished with epoxy flooring and ample storage cabinets. With access to golf, swimming, and countless recreational amenities, this gorgeous Jasmine model offers the ultimate in retirement luxury.

34027 N 140th Place Scottsdale, AZ 85262

$650,000
3 Beds
2 Baths
2,000 SqFt
Status Active
MLS # 6778608
Property Type Single Family Residence
Price Type --
Beautiful new home, ready to move into! 3 bedroom, 2 bath, with den or office. Cul-de-sac lot. Large master suite/closet, and all tile master shower. Carpeted bedrooms with upgraded pads. Spacious open floor plan, great room, and kitchen. Quartz countertops, tile backsplash, spacious pantry with built-in-selves. Stainless steel appliances, sit-down kitchen island, and vaulted ceilings. Generous paver stone patio to enjoy desert mountain views. 3-car garage with workspace. Spacious laundry room and storage room, both with cabinets! Solar tube for natural light in laundry room. Long lasting synthetic stucco finish, 2 panel interior doors. Horses OK. Owner Agent.

7306 E Wilshire Drive Scottsdale, AZ 85257

$650,000
3 Beds
2 Baths
1,506 SqFt
Status Active
MLS # 6778842
Property Type Single Family Residence
Price Type --
Classic 3 bedroom, 2 bathroom brick home, ideally located just off Scottsdale Road and tucked into the center of the highly sought after Scottsdale Estates subdivision. This beauty showcases a spacious living room, formal dining area, updated bathrooms, dual pane windows throughout and a gorgeous backyard with a sparkling diving pool and Trex deck. The backyard also includes a large storage shed, lots of grass for play and a spacious covered patio. The roof and hvac unit were replaced in 2021, complete replacement of sewer lines in 2024, new carpet and fresh interior paint throughout in 2024 and new electrical panel in 2004! Situated close to excelling public and private schools, parks, Old Town Scottsdale, and the 101 freeway, it's in a prime location for convenience and entertainment. This is an extremely rare opportunity that you do not want to miss!

1311 W Windsong Drive Phoenix, AZ 85045

$650,000 - 4Br/2Ba -  for Sale in Parcels 18a 19d 19e And 26b At Fh Club Wst Phase 1, Phoenix
New
$650,000
4 Beds
2 Baths
2,280 SqFt
Status Active
MLS # 6778645
Property Type Single Family Residence
Price Type --
Great location. This upgraded home . Located in the desirable community of Foothills Club West with easy access to shopping, airport and tons of parks and trails. You will love entertaining with the spacious kitchen and living space including a gas fireplace. Large Master Suite with 5-pc ensuite and large walk-in closet. Elegant crown molding and no carpet in the home. The large lot includes an RV gate for you to park ATV. Boat, etc in the backyard. AZ is about outside living, and this home doesn't fall short as there is a built-in BBQ and large pebble deck patio that leads to the pool. Don't wait, be in your new home for the holidays.

4175 S Marisol Lane Gilbert, AZ 85297

$650,000
4 Beds
2 Baths
2,213 SqFt
Status Active
MLS # 6786439
Property Type Single Family Residence
Price Type --
Beautiful single-level 4 bedroom 2 bath home on a generous 11,000+ sq. ft. corner lot in the desirable Coronado Ranch community. This home radiates pride of ownership with its remodeled bathrooms, updated flooring, and an open kitchen featuring sleek quartz countertops. Move-in ready! This home offers a split floor plan, high ceilings, and a 3-car garage. The expansive backyard is perfect for families and entertaining, with a covered patio and RV gate for easy access. Ideally located in Gilbert, close to top-rated schools, parks, and shopping.

10116 W Bolivar Drive Sun City, AZ 85351

$650,000
2 Beds
2 Baths
1,800 SqFt
Status Active
MLS # 6780918
Property Type Twin Home
Price Type --
This beautifully remodeled lakefront property offers an idyllic blend of modern elegance and serene living, perfect for those seeking a tranquil retreat. The open floor plan showcases a spacious interior enhance with new flooring and sleek cabinets, while most furnishings and furniture are included for a seamless move-in experience. Indulge in luxury with a jacuzzi tub in the bathroom, providing a spa-like escape, and enjoy the expanded living room, perfect for relaxation with its cozy fireplace. The custom front door and new windows elevate the home's sophistication, and the removal of popcorn ceiling adds to its sleek aesthetic. Entertaining is effortless in the outdoor BBQ area, complete with a covered patio. 2-car garage and office area, property is a blend of style and comfort

4098 E Rakestraw Lane Gilbert, AZ 85298

$650,000
2 Beds
2 Baths
2,156 SqFt
Status Active
MLS # 6784215
Property Type Single Family Residence
Price Type --
Move-in ready ''Sundance'' model home with open floor plan, located on a corner, N/S facing lot in the 55 plus community of Trilogy at Power Ranch. The home features 2 bedrooms and den, great room, and large kitchen with a huge morning room overlooking the courtyard with French doors and retractable screens. As you enter the home you will notice tile flooring throughout, with new carpet in the bedrooms and den. The home has shutters throughout, just recently painted interior, and exterior last year. The master bedroom has an exit door to the patio and backyard. You will enjoy the large bathroom with double sinks, garden tub, and separate walk-in shower, and walk-in closet. The backyard has artificial turf, paver extended patio, fenced yard, and fruit trees, lemon, lime, orange and tangelo. The 2 1/2 car garage has built-in cabinets, storage and epoxy flooring with no step in the garage. Come enjoy all this home has to offer plus all the amenities available such as golf, tennis, Bocce, pickle ball, pools, workout facility, clubs and so much more.

73 Seneca Drive Flagstaff, AZ 86005

$650,000
3 Beds
2 Baths
1,568 SqFt
Status Active
MLS # 6785279
Property Type Single Family Residence
Price Type --
Nestled in the desirable Pine Del neighborhood, this fully remodeled 3-bed, 2-bath home offers a perfect mix of modern updates and outdoor tranquility. Inside, enjoy an open-concept design with a cozy brick fireplace, wood-burning stove, and custom bookshelf. The sleek kitchen and spacious living area flow to the backyard, ideal for entertaining or relaxing. With a greenhouse, two sheds, and a woodshed, there's plenty of space for hobbies and storage. The whole-house water filtration system ensures cleaner water and healthier plants and pets. Just minutes to hiking, biking, and Flagstaff Airport, and only 24 miles to Sedona. No HOA. Schedule your showing today—this gem won't last long! Charming, Fully Remodeled 3-Bedroom Home in the Private Pine Del Neighborhood Nestled in the highly sought-after Pine Del neighborhood, this beautifully remodeled 3-bedroom, 2-bathroom home offers an ideal blend of modern comfort and outdoor serenity. With a spacious open-concept layout, the home is designed to maximize natural light and create a warm, inviting atmosphere. Upon entering, you'll be greeted by a large brick fireplace with a cozy wood-burning stove, perfect for chilly Flagstaff nights. The custom-built bookshelf adds a personal touch, providing the perfect spot for a home library or displaying your favorite collections. The heart of the home features a sleek, updated kitchen and a generous living area that flows effortlessly to the outdoor spaces. The sizable backyard is an entertainer's dream, offering plenty of room for relaxation or gardening. Enjoy the Arizona sunshine from the covered patio, tend to your plants in the greenhouse, or store tools and equipment in one of two sheds or the woodshed. A whole-house water filtration system ensures the highest quality of water for your family, pets, and plants, addressing hard water concerns and optimizing your home's health. This home is perfectly positioned for those who enjoy outdoor adventures, with hiking trails, Tuthill Bike Park, and the Flagstaff Airport just minutes away. For weekend getaways, you'll be only 24 miles to the stunning Oak Creek Canyon and Sedona, and 20 miles to the slopes of Snowbowl. Downtown Flagstaff is just a short drive, offering a wealth of dining, shopping, and entertainment options. Located in a quiet, no-HOA neighborhood, this home offers flexibility and privacy, ideal for anyone looking to homestead, grow their family, or live a peaceful life with pets. Whether you're drawn to the beauty of the surrounding nature or the comfort of a well-appointed home, this is a must-see property that will not last long! Key Features: Completely remodeled 3-bedroom, 2-bathroom home Spacious backyard with greenhouse, woodshed, and 2 additional sheds Whole-house water filtration system for cleaner water and healthier plants, pets, and appliances Large brick fireplace with wood-burning stove Custom bookshelf for a home library Open-concept layout, ideal for entertaining Minutes from local hiking trails, Tuthill Bike Park, and Flagstaff Airport Just 24 miles to Sedona and 20 miles to Snowbowl No HOAperfect for homesteading, growing your family, or pet lovers This stunning home won't stay on the market for long! With its perfect blend of modern updates, outdoor space, and unbeatable location, it offers everything you're looking for and more. Don't miss your chance to make it yoursschedule a private showing today and discover all that this beautiful property has to offer before it's gone!

19606 W Marshall Avenue Litchfield Park, AZ 85340

$650,000
4 Beds
4 Baths
3,554 SqFt
Status Active
MLS # 6782789
Property Type Single Family Residence
Price Type --
Nestled in the desirable Canyon Views community, this gently used, meticulously designed home offers an ideal blend of style, function, and comfort, with tasteful custom details throughout! As you enter, you'll be greeted by an open floor plan that seamlessly connects the chef's kitchen to the inviting family room. The kitchen is a dream for any home cook, featuring double ovens, a gas stove top, a large walk-in pantry, and a stunning waterfall edge island. The elegant tile backsplash ties everything together, making this space both beautiful and functional. The family room boasts vaulted ceilings, creating a light and airy atmosphere, and a gorgeous fireplace adds a touch of warmth and sophistication. This multigenerational home is designed for flexible living with a spacious bedroom and full bathroom located on the main floor, perfect for guests or extended family. Upstairs, you'll find a large, versatile loft that can serve as a playroom, office, theater, or additional living space. Two generous-sized bedrooms, a full bathroom, and a luxurious master suite complete the upper level. The master retreat includes double sinks, a walk-in shower, a private toilet room, and a spacious walk-in closet. Step outside to a beautifully manicured backyard, ideal for both relaxation and entertaining. A covered patio and gazebo provide shade for outdoor dining, while the built-in BBQ is perfect for summer cookouts. Artificial grass ensures a low-maintenance, lush landscape year-round. Move-in ready, this home is waiting for its next family to make it their own!

13218 W Castlebar Drive Sun City West, AZ 85375

$650,000
3 Beds
2 Baths
2,880 SqFt
Status Active
MLS # 6783119
Property Type Single Family Residence
Price Type --
Exceptional 3 bedroom remodel on the 17th hole of the Briarwood Golf Course/CC. The $100k remodel won't disappoint. Enjoy the stylish kitchen w/ KitchenAide S/S appliances. KraftMaid cabinets and a HUGE island makes it an inviting place to gather. All 3 bedrooms have walk-in closets along with 1.75 updated bathrooms. The remodel includes luxury laminated flooring, solar glass double pane windows/screens, and sliding glass doors. Additionally, new paint thru-out, newer roof ,water main, upgraded landscaping, and outdoor patio. other bonuses are louvered shutters, 4 solar tubes, newer electric hot water heater, covered screened in patio, new garage door opener w/remotes, and updated irrigation system. Also included BFS Home Warranty through July 2025. Also enjoy desirable N/S orientation

20389 N 54th Avenue Glendale, AZ 85308

$650,000
4 Beds
2 Baths
2,119 SqFt
Status Active
MLS # 6785779
Property Type Single Family Residence
Price Type --
Discover this beautifully maintained home in one of the valley's most sought-after lake communities. This home offers the perfect blend of convenience and style, showcasing a spacious three-car garage with plenty of storage, gorgeous wood floors, plantation shutters, and vaulted ceilings. The open-concept kitchen, with its lovely granite countertops, white cabinetry, and sleek stainless steel appliances, seamlessly flows into the family room, creating an ideal space for both entertaining and relaxing after a long day. Enjoy your outdoor living space with a covered back patio, lush green grass, and mature trees, creating a peaceful, private retreat. Ideally located near the 101, you'll enjoy easy access to everything you need. Don't miss out on the opportunity to make it yours!

6364 E Star Valley Circle Mesa, AZ 85215

$650,000
3 Beds
2.5 Baths
2,432 SqFt
Status Active
MLS # 6786077
Property Type Single Family Residence
Price Type --
A MUST see if you are looking for a whole lot of classy design, long range mountain views, close up golf course views, entertaining space, in and out, your going to love it! Now, priced to sell with Original Owners who maintained and improved the home continually ie.. new roof 2022, new vinyl windows with lifetime warranty, new AC 2018, and much more. Wait until you see the great location with golf course views! The back yard has every thing you need for complete enjoyment and entertaining, even a putting green. Additional goodies, super BBQ &Firepit

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