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

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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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

3040 N Saffron -- Mesa, AZ 85215

$625,000

4 Beds

2.5 Baths

2,365 SqFt

Status Active

MLS # 6776002

Property Type Single Family Residence

Price Type --

This beautiful 4-bedroom, 2.5-bathroom, 2-story home sits on a sprawling 11,239 sqft lot with no HOA AND PAID OFF SOLAR!! Offering 2,365 sqft of interior living space, the home features a cozy fireplace in the family room, high ceilings, and large dual-pane sunscreen windows for plenty of natural light. Plush carpet and tile flooring run throughout. The upstairs primary bedroom includes a full ensuite bathroom and walk-in closet. The kitchen showcases granite countertops, elegant cabinetry, a walk-in pantry, and a breakfast bar. The backyard is as beautiful as the interior, featuring a covered patio, balcony, and a low-maintenance yard with grass, gravel, and trees. Enjoy the private heated pool and spa! Additional exterior storage, RV parking, and a 2-car garage add to the home's appeal!

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4167 N Brigadier Drive Florence, AZ 85132

$625,000

2 Beds

2.5 Baths

2,514 SqFt

Status Active

MLS # 6776342

Property Type Single Family Residence

Price Type --

Enjoy the luxury and RESORT STYLE LIVING with this HIGHLY UPGRADED Sun City home. Your new beautiful ''Journey'' model is offered FULLY FURNISHED and located on a PREMIUM WASH LOT offering stunning Sonoran Desert views. The exquisite outdoor living space features a private courtyard, paver driveway, extended paver patio, synthetic grass, fencing and beautifully landscaped yards. Every detail has been added starting with the gorgeous CHEFS KITCHEN cabinet layout w/granite counter tops, BUTLERS PANTRY, wood-look tile flooring, tray ceilings, built-in fireplace feature and a double sliding glass door leading to the patio. Additional details include a GOLF CART GARAGE, First Impression security door, ceiling fans and a large walk-in shower and double vanity in the primary en-suite. STUNNING HOME THAT NEEDS TO BE SEEN TO APPRECIATE! Merrill Ranch also offers the Anthem Grille, The Poston Butte Golf Club, a learning center and all the festivities, activities and amenities a Sun City community has to offer. Remember you are buying a lifestyle that goes beyond the homes property lines.

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2748 E Canyon Creek Drive Gilbert, AZ 85295

$625,000

3 Beds

2.5 Baths

2,302 SqFt

Status Active

MLS # 6782491

Property Type Single Family Residence

Price Type --

Step inside your new dream home that is just minutes away from the 202 freeway and the San Tan Mall, this home has too many updates to list. It is a must see! The newly remodeled kitchen boasts all stainless steel appliances, granite/quartz countertops and a farmhouse style sink. The garage has an epoxied floor along with plenty of storage space while the large loft affords extra room for children to play or to just lounge & relax. New carpet in the bedrooms and closets, and upgraded light fixtures throughout make this home shine. Enjoy the lagoon style pool with a baja shelf & built in cleaning system that was built in 2022. The home also has 2 new A/C units with Ecobee thermostats & a new water heater, all installed in 2022.

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3367 Turkey Track Road Pinetop, AZ 85935

$625,000

3 Beds

2 Baths

1,565 SqFt

Status Active

MLS # 6776847

Property Type Single Family Residence

Price Type --

Located in Pinetop Lakes Mtn Homes, with Recreation Center privileges, this immaculate 3 bed/2 bath cabin has been beautifully maintained and shows pride of ownership at every turn. Soaring ponderosa pines and easy to maintain landscaping. The wood-burning fireplace with a Napoleon insert is surrounded by stacked stone and a rustic, gnarly mantle. The heated garage has built-in cabinets and a work bench. This cabin has been very loved over the years and continually updated, most recent improvements include all new Composite outdoor decks, new log railings, and remodeled master bath. Located in the heart of the White Mountains within minutes of 3 golf courses, multiple national forest trailheads for hiking/biking and many other summer and winter activities for the outdoor enthusiast to

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7534 W Jones Avenue Phoenix, AZ 85043

$625,000

3 Beds

2.5 Baths

2,390 SqFt

Status Active

MLS # 6777957

Property Type Single Family Residence

Price Type --

Better than new home, two years old and highly upgraded including an extended RV garage(gives at least 4 parking spots)!!! Perfect for boats,cars, RV, weight room, workshop, golf simulator, Basketball court, whatever fits your lifestyle! Fabulous split, open floorplan that includes double door den, large great room and dining area. and a powder room and plank tile laid in the upgraded herringbone pattern throughout living area. Gourmet kitchen w/ large island and breakfast bar, SS appliances including gas cooktop, double wall ovens, granite countertops, backsplash and huge walk in pantry plus a ''butlers pantry area'' w/ desk and more storage!! Primary suite offers a luxurious, oversized, tiled walk in shower, separate water closet, walk in closet, double sinks. Guest Rooms share a bath w/ private shower area and double sinks! Beautifully landscaped backyard w/ firepit, artificial turf, covered patio and garden bed. Close access to the new 202 south, too

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3953 W Salter Drive Glendale, AZ 85308

$625,000

5 Beds

5.5 Baths

3,863 SqFt

Status Active

MLS # 6777770

Property Type Single Family Residence

Price Type --

Welcome to this gorgeous 5-bed, 5.5-bath home with an above ground SWIMMING POOL, convenient BASEMENT, GUEST QUARTERS, NEW AC units and thoughtful design throughout! Inviting ambiance in the spacious great room, where plush carpet, upscale ceiling fans, recessed lighting, and thick baseboards create an elegant and cozy feel. The kitchen is a chef's dream, comes complete with abundant cabinetry topped with crown moulding, granite counters, a breakfast bar, stainless steel appliances, and a center island. Romantic primary retreat boasts outdoor access, double door entry, and an ensuite comprised of two vanities, soaking tub, and a walk-in closet. HUGE family room in the basement is perfect for entertaining, movie nights, or a game room. Serene backyard provides a covered patio, pavers, and a storage shed. This beauty will sell fast!

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18961 N 259th Avenue Buckeye, AZ 85396

$625,000

3 Beds

2 Baths

2,009 SqFt

Status Active

MLS # 6779380

Property Type Single Family Residence

Price Type --

If you've been considering a 55+ active adult community in Arizona, and Sun City Festival is on your list for all it's fantastic amenities, then you will want to see this gorgeous and upgraded 3 bed 2 bath home that has views upon views as it backs to the White Mountains preserve looking east. Stylish and modern upgrades to the large chef's kitchen, flooring, and much more make this is a home that is truly turn-key. Whether as a second home or your year-round residence, this home has the style and finishes you deserve. Also, the leased solar helps lower your electric bills substantially. Imagine yourself sitting on the patio and taking in the beautiful open land and mountain views backed by that gorgeous Arizona sky. Your new home awaits!

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2937 N 16th Drive Phoenix, AZ 85015

$625,000

3 Beds

2 Baths

1,500 SqFt

Status Active

MLS # 6777847

Property Type Single Family Residence

Price Type --

WOW!!! Welcome to this stunning move-in-ready home in the highly sought after North Encanto Historic District, completely transformed from top to bottom. It features a newer roof, AC, brand new sub & main electrical panel, LVP flooring, updated electrical, plumbing, and modernized kitchen and baths. While upgraded, it retains charming historic features like a large brick fireplace and a vintage outdoor grill. The reconfigured floor plan includes a primary suite with an ensuite bath. Outside, the front yard has lush grass, and the backyard offers low-maintenance turf. The oversized two-car garage with built-in cabinets provides ample storage. Located on a quiet street, this home blends historic charm with modern living.

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7658 E Vista Drive Scottsdale, AZ 85250

$625,000

2 Beds

2 Baths

1,236 SqFt

Status Active

MLS # 6781032

Property Type Townhouse

Price Type --

Step into this beautifully maintained 2-bedroom, 2-bathroom home, complete with a versatile bonus room that's perfect for a home office or guest space, featuring a convenient Murphy bed. The kitchen boasts sleek quartz countertops and stainless steel appliances, creating a modern, functional space for any chef. Throughout the home, you'll find elegant plantation shutters, vaulted ceilings, and walk-in closets, providing ample storage. The resort-style front patio, with non-skid tile, and a spacious back patio overlook lush green common areas shaded by mature trees, with a pathway leading to the community pool. Conveniently located near shopping and dining. This gem won't last long!

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19151 W Coolidge Street Litchfield Park, AZ 85340

$625,000

4 Beds

3 Baths

2,649 SqFt

Status Active

MLS # 6781424

Property Type Single Family Residence

Price Type --

Come and see this beautiful home with a Next Gen Suite and a plethora of upgrades!! This home has an extra living space that includes its own Bedroom, Bathroom, Laundry Area that comes with a washer and dryer attached garage, Kitchen and dining/living room area!! This extra living space is perfect for family and friends! The main living quarters has 3 bedrooms, 2 full bathrooms and a big kitchen ready to host all of your events! Enjoy the low maintenance backyard with beautiful green turf and plants making it a great area to relax while enjoying the White Tank Mountain views to the west!

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25451 N 164th Drive Surprise, AZ 85387

$625,000

6 Beds

5 Baths

3,021 SqFt

Status Active

MLS # 6781462

Property Type Single Family Residence

Price Type --

Welcome to your dream home in Surprise, AZ! This nearly brand-new 6-bedroom, 5-bathroom home, built in 2022, offers a spacious open-concept layout perfect for families and entertaining. The **gourmet kitchen** features a gas cooktop, abundant cabinetry, and a large island with pendant lighting. The **primary suite** is a true retreat with a spa-like bathroom and walk-in shower. Upgrades include an **enhanced sound system** and a **remodeled backyard** with custom pavers, desert landscaping, and a gas stub for grilling. Conveniently located near the 303 Freeway, this home offers the ideal blend of luxury and comfort. Don't miss out!

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7585 W Tumblewood Drive Peoria, AZ 85382

$625,000

5 Beds

2 Baths

2,444 SqFt

Status Active

MLS # 6782727

Property Type Single Family Residence

Price Type --

Welcome to this 5 bedroom 2 bath house with a fantastic floor plan and located in a very desirable community! Equipped with a relaxing pool, great yard and RV Gate. Situated in a corner lot right next to a grass park. This home is nestled wonderfully to enjoy all of the amenities from shops, entertaining and dining that P83 has to offer. Schedule your showing today.

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