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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17446 W Gelding Drive Surprise, AZ 85388

$549,900

4 Beds

2.5 Baths

2,416 SqFt

Status Active

MLS # 6779117

Property Type Single Family Residence

Price Type --

You'll LOVE this incredible 4 bed 2.5-bath. Recent updates include painted cabinets, new A/C units, new carpet, new pool fence, freshly painted. All Single Level block home neighborhood. This home boasts a spacious living room & formal dining room. The home exudes elegance with its tall ceilings, soothing paint tones, lovely light fixtures, classic tile flooring, and plush carpeting. Kitchen features SS appliances, granite counters, a center island, a walk-in pantry, ample white cabinetry w/ crown molding, and a bright breakfast nook w/ bay window. Generous bonus room is great for a hobby/media room. Retreat to the main suite with an immaculate ensuite, and a walk-in closet. Escape to the entertainer's backyard with a covered patio and a refreshing pool.

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721 W St Moritz Drive Payson, AZ 85541

$549,900

3 Beds

2 Baths

1,836 SqFt

Status Active

MLS # 6779363

Property Type Single Family Residence

Price Type --

No need to look any further! This well-maintained home has everything a buyer desires. The primary bed and bath are on the main floor and there are 2 large bedrooms and a full bath upstairs including a nice-sized loft or office area! You'll enjoy the propane fireplaces in the living room and primary bedroom. The primary suite comes with a jetted tub and a large walk-in closet. Outside you'll relax under the beautiful covered patio area. On the south side of the home, there is RV parking with water and a 30-amp outlet. There is a well-built storage shed in the backyard as well. This home won't last! See you soon!

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16432 N 1st Drive Phoenix, AZ 85023

$549,900

3 Beds

2 Baths

1,543 SqFt

Status Active

MLS # 6779741

Property Type Single Family Residence

Price Type --

incredible opportunity to own in this adorable neighborhood with a completely updated home from head to toe. professionally designed with new cabinets, appliances, counters, flooring , interior paint, bathrooms, lighting fixtures and so much more. great open floor plan . home is also available for lease or lease purchase. owner agent with fast answers.

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20391 N 53rd Avenue Glendale, AZ 85308

$549,900

3 Beds

2 Baths

1,589 SqFt

Status Active

MLS # 6779897

Property Type Single Family Residence

Price Type --

Welcome to your oasis nestled in the highly desirable Arrowhead Lakes! This stunning 3-bedroom, 2-bath home with a pool is situated on a premium corner lot. The vaulted ceilings create an airy atmosphere with tile and wood floors throughout. The kitchen features granite countertops, a nice size island, tile backsplash, and stainless-steel appliances. Spacious primary en-suite has a walk-in closet, dual sinks, separate shower & roman style tub. Perfect for entertaining, the backyard features a beautiful pool with a waterfall feature & a mountain view. Newer Roof & HVAC, two high-cost updates have been done! This sought after neighborhood is close to everything! Enjoy walks day or night, and great area for hiking. Don't miss this one, move in before the holidays!

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13608 W Remuda Drive Peoria, AZ 85383

$549,900

3 Beds

3 Baths

2,258 SqFt

Status Active

MLS # 6781006

Property Type Single Family Residence

Price Type --

This beautiful, move-in-ready home features a spacious great room that opens to a covered patio, perfect for enjoying the resort-style backyard. The outdoor area boasts a heated pebble tech and travertine pool with a waterfall and jetted hot tub, surrounded by palm and citrus trees. Inside, there are three generously sized bedrooms, each with a full bathroom, along with a spacious dining room and plenty of storage, including two linen closets and a kitchen pantry. The main bedroom offers ample space for a sitting area or personal office, along with a spacious walk-in closet, dual sinks, and a super shower. The kitchen has granite countertops with white shaker cabinets. Plank tile flooring flows through high-traffic areas, an RV gate plus a four-car garage tandem add functionality.

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4397 W Horsenettle Drive San Tan Valley, AZ 85144

$549,900

4 Beds

2.5 Baths

3,001 SqFt

Status Active

MLS # 6781557

Property Type Single Family Residence

Price Type --

Welcome to this gorgeous 4-bedroom, 2.5-bathroom home located in the San Tan Ridge community. This property offers an exceptional floor plan with oversized bedrooms, a spacious loft, bonus room downstairs, formal dining area and trendy paint tones. The primary bedroom offers ample light, a large walk-in shower and closet. The kitchen opens to the living area, creating an ideal space for entertaining. Step outside to your private backyard paradise. Surrounded by lush tropical plants, featuring a heated swimming pool with views of the San Tan Mountains. The built-in BBQ and commercial-grade misters offer the perfect setting year round. In addition this home has owner owned solar, water softener, RO system, 3 car tandem garage, and is pre wired for a hot tub outside.

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13411 W Los Bancos Drive Sun City West, AZ 85375

$549,900

3 Beds

2 Baths

2,143 SqFt

Status Active

MLS # 6785098

Property Type Single Family Residence

Price Type --

You will love this 3 bed, 2 bath home on corner lot in Corte Bella. Welcome to this spacious floor plan w/ lots of natural light, crown molding, plantation shutters, granite countertop, new carpet and paint thought-out. The eat-in kitchen has a breakfast bar, pantry, glazed cabinets & huge island. It's also open to the generous living space. The owner's suite features a large bay window, separate tub & shower, dual sinks, seated vanity & walk-in closet. The rear yard has a large, covered patio w/ relaxing views. Spacious laundry room with custom storage cabinets & oversized 2 car garage w/ attached cabinets. Located in the highly desired & gated Corte Bella community w/ golf course, sports courts, pool, fitness center, restaurant & day spa.

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24714 N 174th Lane Surprise, AZ 85387

$549,900

3 Beds

3 Baths

2,187 SqFt

Status Active Under Contract

MLS # 6745889

Property Type Single Family Residence

Price Type --

Great Price! Great Value! Great Amenities! Welcome to the next chapter of your life! This impressive home offers more than just a place to live—it's your gateway to the lifestyle you've been dreaming of. From the moment you step inside, you'll feel a harmonious blend of peace & comfort. The gourmet kitchen, featuring gleaming granite countertops & stainless steel appliances, is a culinary enthusiast's dream, perfect for hosting gatherings. The open floor plan leads to a spacious primary suite, complete with upgrades, abundant storage, & a roomy walk-in closet. You will find 2 additional bedrooms, one guest suite boasts its own private entrance & patio - there is one more bedroom & den all offering additional opportunities to create spaces tailored to your personal preferences. The low maintenance landscaping and window treatments are already donesaving you time and money. Picture evenings in your private, manicured backyard complete with artificial turf, enjoying the warmth of the gas fire pit or unwinding under the covered patio. Whether relaxing or entertaining, this outdoor space is ideal for year-round enjoyment. Make sure to check out the garage with its epoxy floor - it feels like an extension of the home. Whether you're looking for a full-time residence or the perfect winter retreat, this homeand the communityoffer a lifestyle filled with luxury and connection. Scenic walking trails, a resort-style pool and spa, a state-of-the-art fitness center, and pickle ball courts are just a few of the amenities that encourage active living and lasting friendships. Come view the home today - you will be glad you did. See document section for all the additional items this home offers. Contact Bill Miller for information on how you can bid on this home.

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25799 S 226th Street Queen Creek, AZ 85142

$549,900

4 Beds

2.5 Baths

2,407 SqFt

Status Active

MLS # 6606963

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This exquisite single-family residence boasts 4 beds and 2.5 bath, providing ample space for comfortable family living & entertaining. Step inside to discover a well-appointed interior that combines modern elegance with timeless design. The open-concept floor plan seamlessly connects the living, dining, & kitchen areas, creating a warm & inviting atmosphere. The kitchen is a chef's delight, featuring top-of-the-line appliances, granite countertops, & a generous island that serves as the focal point for culinary creations & casual gatherings. The four bedrooms are thoughtfully designed, offering privacy & comfort to all occupants. Outside, the property continues to impress with a huge backyard space. It's a blank canvas awaiting your personal touch. Built in 2021 & situated minutes away from Queen Creek's entertainment hub, you'll enjoy the convenience of nearby amenities, excellent schools, & easy access to shopping, dining, movie theaters and a variety of entertainment options. This property truly offers the best of both worlds - a peaceful suburban retreat with a front-row seat to all the entertainment you desire. surrounded by lush green areas, amazing playgrounds, & a super cool community pool area!

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44560 W Copper Trail Maricopa, AZ 85139

$549,900

4 Beds

2.5 Baths

3,054 SqFt

Status Active

MLS # 6707658

Property Type Single Family Residence

Price Type --

SELLER OFFERING RATE BUYDOWN Resort living at its finest in Maricopa. Located in the Cobblestone Farms neighborhood. The expansive interior shines with natural light, creating a welcoming ambiance throughout. Enter through a custom iron door where a chef's kitchen awaits, boasting top-tier appliances, perfect for culinary enthusiasts & entertaining guests alike. This luxurious home offers 4 spacious bedrooms, including a magnificent owner's retreat with a owners bath including a full tiled shower, freestanding tub and custom sinks. Retreat to the spacious bedrooms, each with a walk in closet. You will also find a separate den/office & loft, providing versatile spaces for work & play. Outside, the meticulously landscaped backyard features a sparkling pool with a water fall, a hot tub while enjoying Arizona's stunning sunsets. Lush green grass and palm trees makes this a home a private oasis. Parking is never an issue with the convenience of an extra parking slab and RV Gate, providing ample space for vehicles & storage. Additional features of this remarkable property include a low maintenance front yard and exterior stone features. This is a rare find that offers the perfect blend of luxury & comfort. Don't miss the opportunity to own this remarkable property. Your new home has been lovingly cared for, allowing you to move right in & start creating memories.

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12926 S 218th Avenue Buckeye, AZ 85326

$549,900

4 Beds

3 Baths

2,100 SqFt

Status Active

MLS # 6713249

Property Type Single Family Residence

Price Type --

AMAZING NEW HOME WITH A TASTE OF COUNTRY LIVING. Check Out This Flat Prime Rural Horse Proberty That Screams Arizona living At it Finest. This NEW 2024 Built Home Is in Magical Buckeye Arizona And Is the perfect Size At 2,100 Square Feet With 4 Bedrooms & 3 Bathrooms. The Home Sits On A Flat Acre of Land And Is Perfect For Both Raising Horses Or A Family. Step Through The Double Front Doors into Your Main Living Space with Chefs Kitchen And Large Pantry. Clean Wood Looking Composite Flooring Through out With No Carpet. All Three Bathrooms have Been Updated With Custom Tile Showers. Bedrooms Have Added Custom Storage/Shelving and Multiple Walk-in Closets. Spray Foam Insulation Along The Roof In The Attic Make this Home Extra Energy Efficient. The Builder Spared No Expense On This Semi Custom Home. Rural Living At Its Finest That Includes, Mountain Views, Shared Well, Private Septic, Perimeter Fence, No HOA, Covered Patio and A Oversized 2 Car Garage.

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3218 N Ravine -- Mesa, AZ 85215

$549,900

3 Beds

2 Baths

1,868 SqFt

Status Active

MLS # 6752209

Property Type Single Family Residence

Price Type --

No HOA! This charming 3-bedroom, 2-bath home features elegant travertine floors throughout and plantation shutters for a touch of sophistication. The central vacuum and water softener make for carefree maintenance and vaulted ceilings enhance the open, airy feel, while the play pool in the backyard offers a perfect retreat. The fireplace in the family room, breakfast bar seating in the kitchen, ceiling fans throughout the home & 220V access in the garage for EV charging are just a few of the features that make this the home of your dreams. Located in a desirable Mesa neighborhood, this home blends style and functionality seamlessly and is ideal for both relaxation and entertaining. It's a true gem in a prime location with easy access to the 202 freeway, shopping and schools.

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