Last week’s economic reports included construction spending, personal income, and multiple reports on employment. Freddie Mac’s mortgage rates survey and new jobless claims were also released.
Construction Spending Dips in June
According to the Commerce Department, construction spending fell in June to -0.60 percent as compared to expectations of an increase of 0.50 percent and May’s reading of -0.10 percent. Spending was even across public and private construction spending. The Commerce Department said that construction spending on June rose to $1.13 trillion was 0.30 percent year-over-year and was 6.20 percent higher for the first six months of 2016 as compared to the same period in 2015; construction spending appears to be trending upward in spite of recent month-to-month declines.
Consumer spending rates in June met expected growth of 0.40 percent and matched May’s reading. Core consumer spending fell to 0.10 percent in June according to expectations, which were based on May’s reading of 0.20 percent.
Labor Reports Indicate Stronger Economy
Inflation remains lower than the Federal Reserve’s annual rate of 2.00 percent, but labor news released last week supports reports of strengthening economic conditions. ADP Payrolls, which covers private-sector job growth, reported 179,000 jobs added in July as compared to June’s reading of 176,000 jobs added.
Non-farm payrolls grew by 255,000 jobs as compared to expected growth of 185,000 jobs. Neither July’s reading nor did expectations of 185,000 jobs added meet June’s reading of 292,000 jobs added, but analysts and media reports touted private and public sector job growth as a strong indicator of economic recovery.
The national unemployment rate held steady at 4.90 percent against expectations of 4.80 percent and June’s reading of 4.90 percent. Analysts said that this reading was better than it appeared due to more people joining the work force in July.
Mortgage Rates Lower:Jobless Claims Rise
Mortgage rates fell across the board last week according to Freddie Mac. 30-year fixed rates averaged 3.43 percent, which was five basis points lower than the previous week. Average rates for a 15-year fixed-rate mortgage fell by four basis points to an average of 2.74 percent. The average rate for a 5/1 adjustable rate mortgage fell five basis points to 2.73 percent.
New jobless claims rose to 269,000 against expectations of 263,000 new claims and the prior week’s reading of 266,000 new claims. There’s good news; new jobless claims remained below the key reading of 300,000 for the 74th consecutive week.
What‘s Ahead
This week’s scheduled economic news includes releases on retail sales and consumer sentiment along with weekly reports on new jobless claims and mortgage rates.
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913 S Del Rio Court
Apache Junction, AZ 85120
$569,900
5
Beds
3.5
Baths
3,193
SqFt
Status
Active
MLS #
6699419
Property Type
Single Family Residence
Price Type
--
You've just discovered the most beautiful ready-to-move-in 5-bedroom home in the east valley. This is one, of the rather hard-to-find, Daylight VIP Finished Basement homes with super Solid 2X6 construction providing years of strength & durability. This rare and wonderful home is nestled in Sonoran Wells, a quiet, well established smaller community, super close to the Superstition Mountains offering views, trails, and hiking galore. There are a great many amenities providing convenience & comfort that come with this home in particular. Here are just a few of the convenient benefits & features: 1) A Fully updated remodeled gourmet GAS kitchen with all easy to maintain stainless steel appliances, Dual cooking Ovens, a professional 5-burner GE Profile cooktop, a Super quiet KitchenAid ... dishwasher, a GE Profile Side-by-Side 36-inch Refrigerator Freezer, a GE Profile Microwave & with built-in Hood Fan, a magnificent wrap-around granite island & breakfast bar, a cozy eat in kitchen breakfast nook, rich mahogany 42-inch custom staggard cabinets with ultra handy pull-out cabinet drawers, gorgeous granite counters, a large food storage pantry, a commercial style flex faucet and oodles of extra storage. 2) Another very special aspect of this home is of course the spacious fully finished Day-Light basement with windows! There are 2 additional bedrooms, a large rumpus room for just about anything you can conceive (Office, game room, theater, business, yoga/workout), a full bath & shower, safety escape ladders in the window wells, and the essential basement sump-pump to keep things dry & protect the home. 3) One of the more obvious reasons to consider this home in particular is that it has 5 wonderful bedrooms. 2 bedrooms downstairs, 2 more main floor bedrooms with a Jack and Jill bathroom, and finally, the expansive main floor owner's quarters with a soaring vaulted ceiling, a private en suite bathroom featuring a large luxurious day-lite soaking tub, a spectacular gleaming glass block snail type walk in shower, two sinks, a separate facial station with lower counter, a large walk-in clothing closet, and a separate storage closet as a bonus. With rooms to spare, this home could be the answer to a multitude of ordinary or special circumstances: multi-generational, live-work, shared living, family, and/or just enjoying and having the space to spread out and relax. Other worth mentioning amenities include: An HVAC Cooled spacious 3-car garage with insulated garage doors and ceiling storage racks, an Ultra Quiet 55+ Ownership golf course community behind the home so there is plenty of peace and quiet to enjoy, plantation blinds and ceiling fans throughout the home, sunscreens, washer/dryer, soft water system . . . and more! if you have read this far, you may want to have a close look at the current comps - this home is priced beautifully. Please stop by today and see how wonderful life can be.
1698 N San Gabriel Avenue
Sierra Vista, AZ 85635
$569,900
3
Beds
2.5
Baths
2,079
SqFt
Status
Active Under Contract
MLS #
6748521
Property Type
Single Family Residence
Price Type
--
This is it! HUGE PRICE IMPROVEMENT! NICELY REMODELED HOME WITH A POOL AND SPA and HEATED AND COOLED 1300 SQ FT WORKHOP in desirable Ranchos Carmela. This split floorplan home features 3 spacious bedrooms, 2.5 bath, Luxury Vinyl Plank Flooring, Formal Dining Room, Breakfast Nook, NEW HVAC and a beautifully updated kitchen. Featuring NEW Stainless Steel kitchen appliances, elegant Quartz countertops and Kitchen Island. Spacious outdoor entertainment area includes a solar heated pool and spa, complete with an automated pool cover and new water filter. This home also features a 10x16 storage shed, an access to a half bath from the pool and a 36x36 workshop, insulated from top to bottom and heated and cooled! Formal dining room can be easily converted into a 4th BR. FEATURES LIST ON PHOTOS
27413 N 23rd Drive
Phoenix, AZ 85085
$569,900
3
Beds
2
Baths
2,313
SqFt
Status
Active
MLS #
6719855
Property Type
Single Family Residence
Price Type
--
LOCATION LOCATION LOCATION! This single story home is located in the most sought ever popular Norterra Dynamite Mountain Ranch! Move in ready 3 bedrooms with a sizeable den, 2 bath and 2 car garage. Cozy front porch. Impressive entrance with Vaulted ceiling. Updated wood tile like flooring and newly installed carpet and paint. Center Kitchen island. Freestanding Stainless steel stove, so is the microwave. Neutral kitchen Backsplash to include the tech area. Spacious pantry. Master's bedroom with wide walk-in closet. Large Covered patio. Close to Shopping, Restaurants and Entertainment, and TSMC. Minutes to I-17. A MUST SEE!!!
11514 E Kiowa Avenue
Mesa, AZ 85209
$569,900
3
Beds
2
Baths
1,812
SqFt
Status
Active
MLS #
6758282
Property Type
Single Family Residence
Price Type
--
This home offers the ultimate in comfort! Upgraded with attention given to every detail. The home offers a North/South exposure. The 3 bedroom, 2 bathroom home offers you a split bedroom design for the ultimate privacy for your guests. The 3rd bedroom is currently being used as a den and is adjacent to the Arizona/hobby room/studio which opens to the back yard. The remodeled kitchen offers alder cabinets, granite counter tops custom lighting and pull out drawers in both the kitchen & the pantry. Large laundry room offers a sink and the washer and dryer. The master bath has been upgraded with a custom walk-in shower with dual shower heads, double grab safety bars, double sinks, two large closets & separate commode room. Three car garage w/mini-split a/c!! This is a very nice home!!! There is a water softener, water distiller, plus a three car garage with epoxied flooring, mini split a/c system and abundant storage and shelving. Outside there is a concrete pad, storage shed, citrus, artificial grass, which is north facing for the best year round exposure. Sunland Springs Village is the east valley's PREMIER Adult Community!! This is an incredible home!!
2856 N 71st Street
Scottsdale, AZ 85257
$569,900
3
Beds
2
Baths
1,478
SqFt
Status
Active
MLS #
6770564
Property Type
Single Family Residence
Price Type
--
Location, Location, Location! A charming home situated in the Heart of Scottsdale! Close to Old Town, Tempe, shopping, dining, & entertainment. NO HOA! This preferred, split, Great Room floor plan shows very light & bright and exudes a cool vibe. The crown molding is a nice accent! Perfect for entertaining or Family/Friend time. A Guest Bedroom offers a separate entrance. The updated Kitchen features a gas stove, granite counters, stainless steel appliances, tiled backsplash, and a skylight. French doors lead to a large screened in Arizona Room/Patio. The Primary Bedroom is sizable and offers a walk-in closet. French doors provide an escape to a quaint Private Patio. The Primary Bath boasts a beautiful tiled walk-in shower. NEWER A/C! NO CARPET HERE, just lovely wood-look plank tile floors throughout. Relax in the spacious, private Backyard with mature shade trees & Mountain views. This home is move-in ready and a must-see!
29449 N Sorrento Drive
Peoria, AZ 85383
$569,900
2
Beds
2
Baths
1,835
SqFt
Status
Active
MLS #
6761271
Property Type
Single Family Residence
Price Type
--
Welcome to the Adult Community of Trilogy of Vistancia. This Shea built home is the Vibrant Model and features charming stone accents and entry paver details. As you walk inside, you'll see the pride of ownership is throughout. It features an open-concept layout with living, dining and kitchen flowing easily together. The kitchen features designer cabinetry, tile backsplash, granite countertops, pendant lighting, pantry and a full stainless steel appliance package. The master bedroom offers plenty of room for large furniture and includes a walk-in closet, along with a master bathroom featuring dual sinks and a walk-in shower. The secondary bedroom is separate from the master and conveniently located near the additional bath. The den / office features multiple areas of built in cabinets. It could also be converted to a third bedroom or formal dining. The laundry room is complete with washer, dryer, lower and upper cabinets, and additional hobby / craft area. The backyard is an absolute delight and perfect for entertaining with a full covered patio. Additional features include plantation shutters throughout and a central vacuum system which has additional connections for the garage. Trilogy at Vistancia combines luxurious amenities with a vibrant social atmosphere.
6713 W Valley View Drive
Laveen, AZ 85339
$569,900
4
Beds
3
Baths
2,048
SqFt
Status
Active Under Contract
MLS #
6670796
Property Type
Single Family Residence
Price Type
--
Highly desired Jubilee floorplan on the LARGEST LOT w/resort style backyard can now be yours! Built in 2022, this gorgeous single story offers 4 bedrooms, teen/bonus room, 3 bathrooms, spacious open floorplan, ceramic wood plank flooring, Chef's kitchen w/granite countertops, apron sink, huge island, 5 burner gas stove, W/I pantry, fan/blinds throughout, designer light fixtures & window treatments, oversized bedrooms, & epoxy flooring in garage. Then step outside to the serene mountain views & your resort style backyard featuring extended covered patio w/pavers, travertine tiling around the gorgeous pebbletec pool w/Baja shelf, water feature, & lights. You will also enjoy the mutliple paved areas for seating, turf & grassy areas, and the luscious grapefruit, lemon, lime, & orange trees. Owners have put in well over $130K in upgrades after the home was built. You cannot get a new build with this large of a lot & mountain views, completed backyard w/pool, AND all the high-end interior finishings for under $600K. This is a once in a lifetime deal, hurry before it's gone!
3422 E Powell Way
Gilbert, AZ 85298
$569,900
5
Beds
4
Baths
2,528
SqFt
Status
Active Under Contract
MLS #
6743650
Property Type
Single Family Residence
Price Type
--
5 Bedrooms, 4 bathrooms and a loft*2 bedrooms are split downstairs, 1 with an attached bath*Upstairs bedrooms with Jack & Jill bath, Tech center hallway*Oversized master bedroom w/separate garden tub & shower, dual sinks, & walk in closet*Upgraded kitchen with white cabinets, Quartz countertops, pantry, & island open to the family room w/surround sound*Freshly painted interior w/neutral color*Recessed lighting, new carpet & new luxury vinyl t/o*Covered back patio, grass and mature landscaping*Excelling A+ rated schools Casteel Junior High & Casteel High School*Seville Golf & Country Club features pools, water-slides, private restaurant, tennis, basketball, beach volleyball, a state of the art gym, child care & more for a separate monthly payment*Close to fine dining, high end shopping... & easy access to 60 & 202 FWYS*
17334 E San Marcus Drive
Fountain Hills, AZ 85268
$569,900
3
Beds
2
Baths
1,354
SqFt
Status
Active
MLS #
6769056
Property Type
Single Family Residence
Price Type
--
WOW! Don't miss out on this gorgeous, remodeled 3 bed 2 bath home steps away from Four Peaks Park in Fountain Hills. Walking in, you will be greeted by a fully renovated kitchen & a beautiful open floor plan. Enjoy all new flooring throughout the entire home that creates a perfect flow. Additional updates include; NEW AC, NEW water softener, NEW RO water system, NEW exterior and interior paint, raised ceilings and so much more! In addition to all the interior updates, you will love spending time outside on this oversized private lot that backs to a wash giving added privacy. This backyard has new artificial turf & pavers that allow for a year-round beautiful look, that is conveniently low maintenance. Another amazing feature of the backyard is the RV gate and RV parking with NO HOA
16013 W Alameda Road
Surprise, AZ 85387
$569,850
3
Beds
3
Baths
2,159
SqFt
Status
Active
MLS #
6742996
Property Type
Single Family Residence
Price Type
--
Owned Solar !!! Enjoy the savings with Solar Panels. Welcome to this charming home in Escalante! This Fulton floorplan has 3 spacious bedrooms, a study, 3 bathrooms, and a 3-car tandem garage! Gourmet kitchen with stunning cabinetry, granite countertops, stainless-steel built-in appliances, a walk-in pantry, and a kitchen island with a breakfast bar and beautiful pendant lights. There is a gas stub in kitchen for easy conversion to a gas cook top. The great room has surround sound and a center-open extended-length sliding glass door. The primary suite is spotless with a lavish ensuite bathroom featuring an oversized tiled shower, a dual sink vanity, and a walk-in closet. Bedrooms 2 and 3 are move-in ready with ceiling fans and blinds! The backyard is pristine with easy care landscape and a covered patio. Do not miss out on this spotless home! Escalante is a vibrant home community offering an array of top-tier amenities designed for active and leisurely lifestyles. Enjoy a massive resort-style pool with shaded areas to keep you cool, multiple lighted sport courts for evening games, and a challenging disc golf course. Enjoy the expansive playground, while residents can also indulge in table tennis, bocce ball, and a dedicated volleyball court for endless entertainment and relaxation.
4380 W Ruby Drive
Eloy, AZ 85131
$569,500
2
Beds
2
Baths
2,198
SqFt
Status
Active
MLS #
6779440
Property Type
Single Family Residence
Price Type
--
Highly upgraded PAVONA w/Flex Room built in 2022. SOLAR is PAID & will save you $. Gorgeous 2 bedroom, 2 bath, Den + 2.5 car garage. Kitchen features 41'' cabinets, Granite counters, Gas range, Pot filler, Butlers pantry, farm sink, Spacious walk-in pantry, Subway backsplash, under cabinet lights, the microwave that broils & air frys. Master has 2ft ext., walk-in curbless shower & granite vanities. Upgrades include Shutters, 8 foot doors throughout, Luxury flooring, whole house water system, laundry cabinets, surround sound, Advanced tech, rain gutters, wet bar in the Great room & Flex room. Step out back to the extended covered patio w/fans & can lights. The fully fenced & professionally landscaped back yard has a raised garden & gas stub. This home has over $175K in upgrades!
20442 E Rosa Road
Queen Creek, AZ 85142
$569,500
4
Beds
2.5
Baths
1,959
SqFt
Status
Active
MLS #
6754354
Property Type
Single Family Residence
Price Type
--
A definition gem on a spacious corner lot, perfectly nestled quite-nearly in the very center of the Queen Creek Marketplace itself! It's a deceptive-charmer that just keeps giving more and more as you tour it. Four bedrooms within a functional layout including a flex-space ideal for a home office, second living space/game room- or even could easily serve as a fifth/guest bedroom if ever desired! The finishes are totally up to 2024 standards with a modern-boho feel throughout stemming from the wood-look tile flooring to the generous and gorgeous kitchen. Best surprise might just be the backyard, it astounds in use of space- and all this is positioned ever-so-cosily next to a pathway to the shopping and dining just steps away! Don't miss this one.