Housing news was boosted by the National Association of Home Builders Housing Market Index, which posted its highest readings since July of 2002. In other news, the Federal Reserve’s Federal Open Market Committee voted to raise the federal funds rate and Fed Chair Janet Yellen gave a press conference. Mortgage rates rose and weekly jobless claims fell.
Home Builder Confidence Highest in 14 Years, Home Construction Lags
According to the National Association of Home Builders, builder confidence in housing market conditions reached its highest rate since 2002 in December. The NAHB Housing Market Index reading topped out at 70 as compared to November’s reading of 63. Analysts said that December’s high reading resulted from a post-election bump in builder confidence. While high builder confidence could bode well for supplies of new homes, construction rates continued to lag strong economic indicators such as low unemployment and high demand for homes. While builders gained confidence in current and projected housing market conditions, they continued to face shortages of labor and buildable lots.
Fed Raises Rate
The Federal Open Market Committee of the Federal Reserve announced it would raise the federal funds range by 0.25 percent to 0.50 to 0.75 percent. FOMC said strengthening job markets, lower unemployment and rising household spending supported the decision to raise the federal funds rate. Inflation, while below the Fed’s target of 2.00 percent, is gradually moving toward the Fed’s medium term goal. FOMC’s statement indicated that the Fed’s monetary policy would remain accommodative.
Fed Chair Janet Yellen held a press conference and cited “considerable progress” toward the Fed’s dual mandate of maximum employment and price stability as factors supporting the decision to raise the target federal funds range. Labor markets continue to improve; Chair Yellen said that the economy has added 180,000 jobs per month over the last three months. 15 million jobs have been added in the past seven years. Inflation is growing gradually, and the Fed expects to achieve its target inflation rate of 2.00 percent over the next two years.
Month-to-month consumer spending readings held steady at 0.20 percent growth. Core consumer price index data, which excludes volatile food and energy sectors, rose from 0.10 percent to 0.20 percent in November.
Mortgage Rates, Weekly Jobless Claims
Mortgage rates were higher last week, but Freddie Mac said that its survey data was collected before FOMC raised the federal funds rate. Analysts at Freddie Mac suggested a wait-and see position on rate forecasts due to the changing political climate. The average rate for a 30-year fixed rate mortgage was three basis points higher at 4.16 percent; the average rate for a 15-year fixed rate mortgage rose one basis point to 2.37 percent and the average rate for a 5/1 adjustable rate mortgage was two basis points higher at 3.19 percent. Average discount points for fixed rate mortgages held steady at 0.50 percent and dipped to 0.40 percent for a 5/1 adjustable rate mortgage.
New jobless claims were lower last week at 254,000 claims filed. Analysts had expected a reading of 250,000 new claims based on the prior week’s reading of 258,000 new claims filed. Volatility in weekly readings for new jobless claims can be expected due to seasonal hiring and layoffs.
What‘s Ahead
Next week’s economic releases include readings on new and previously-owned home sales, inflation and consumer sentiment. Readings for mortgage rates and new jobless claims will also be released.
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22015 N 59th Terrace
Phoenix, AZ 85054
$1,645,000
4
Beds
4.5
Baths
3,505
SqFt
Status
Active Under Contract
MLS #
6781344
Property Type
Single Family Residence
Price Type
--
Shea Homes' most popular plan at Emblem at Talinn. Premium lot across from park east facing backyard abutting natural open space, lush landscaping with artificial grass and quartz pavers. Custom PebbleTec pool with Baja deck, water feature & fire pots. Enjoy the sunrise & mountain views from the covered patio with electric fireplace. Inside is a large chef's kitchen with GE Monogram appliance package, coffee bar, walk-in pantry, spacious quartz island with breakfast bar. Dining area opens to the great room with soaring ceilings. Downstairs is a secondary primary ensuite bedroom & an office/den that could be converted to a bedroom. Upstairs is the primary bedroom with large bathroom & walk-in closet, laundry room, 2 guestrooms and large loft that could be converted to a bedroom. Wood shutters throughout, remote-controlled blinds in the family room and kitchen. 3-car garage with epoxied floor, EV charger for 2 vehicles, plus separate area plumbed for utility sink and outlet for additional refrigerator. Water softener, whole house filtration system and tankless, gas water heater. Home is Energy Star 3.0 rated and includes Shea Connect smart home feature. Community pool & rec center with exercise & billiard room, community parks & playgrounds, walking & bike paths. Close to shopping, restaurants & entertainment. See Features and Upgrades list for more details.
8919 E Calle Del Palo Verde --
Scottsdale, AZ 85255
$1,644,000
3
Beds
3
Baths
2,891
SqFt
Status
Active
MLS #
6731379
Property Type
Single Family Residence
Price Type
--
Updated and well cared for home in a most desirable North Scottsdale GATED COMMUNITY. This home is ready to move in boasting it's Gourmet Kitchen with high end appliances . Manicured yard on quiet interior lot makes this home stand out! Better hurry as it is priced to sell AND SELLER WILLING TO FUND THE LENDER COST OF A 2/1 BUYDOWN!
7235 E Paradise Drive
Scottsdale, AZ 85260
$1,640,000
5
Beds
3
Baths
3,881
SqFt
Status
Active
MLS #
6684806
Property Type
Single Family Residence
Price Type
--
This remodeled 5 BR 3 BA 3881 sq ft home on cul-de-sac lot w/expansive lawn, landscaping, N-S exposure. Liv.Rm w/12 ft ceilings, separate Din.Rm. Large MBR w/gas fireplace, sitting area, bath area w/sunken tub,sep.shower & huge walk-in closet. 3 addt'l Bdrms, hall bath. Guest suite/office w/fireplace, huge shower & pvt.entry anchors west side of home. Inviting Fam.Rm w/firepl (gas or wood), soaring wood beamed ceilings. Large eat-in kitchen w/counter seating,walk-in pantry,Wolf range,Miele dishwasher,LG smart refrigerator & Profile microwave. Laundry Rm w/storage closet, work counter, stacked smart LG W/D. Luxury vinyl plank waterproof flrs. Greg Trutza designed park like backyard; fenced 20x40 htd pool & spa,MLB regulation batting cage, Lawn & raised garden beds w/separate irrigation. All of the improvements and upgrades in this totally remodeled home were completed in 2022-2023 and include: New roof and underlay - 2021 New luxury vinyl plank flooring through entire house - 2022 designated for industrial use that have the advantages of being waterproof, quiet and soft under foot. New baseboards through entire house - 2022 New doors and hardware through entire house - 2022 New switches and outlets through entire house - 2022 New LED ceiling lights through entire house - 2022 New grates and vents through entire house - 2022 New light fixtures inside and outside entire house - 2024 Entire home interior and garage painted 2022-2023 ENTRY WAY: New shatterproof glass installed next to front door Slate installed outside front door at entry way KITCHEN: New cabinets and hardware Newer sink Newer faucet with spray Newer Wolf oven (never used) Newer LG smart refrigerator with convertible middle drawer and custom ice cube feature Miele dishwasher with third cutlery rack and crystal/china cycle Newer GE microwave with high power vent Newer sliding glass doors Newer granite countertops Newer slate patio off of kitchen Built in gas grill on patio LAUNDRY ROOM: New cabinets New granite countertop New sink New smart faucet with spray New fan vent New LG smart stacked washer/dryer 5th BEDROOM/OFFICE SUITE with FULL BATHROOM & PRIVATE ENTRANCE: New fireplace tile surround Newer cabinet in bathroom Newer sink and faucet in bathroom Newer quartz countertop Newer shower doors Newer wall and floor tile in shower Newer shower head in oversized shower Newer bathroom hardware Newer Toto toilet MASTER BEDROOM: Newer fireplace surround Newer slate patio off master bedroom through sliding glass door MASTER BATHROOM: Newer mirror with tile border Newer cabinets Newer Kohler sinks Newer faucets Newer quartz countertop New tile bathtub Newer shower doors Newer bath faucet Newer shower tile Newer shower fixture Newer Toto toilet Newer bathroom fan Newer shatterproof glass window in shower area Newer bathroom hardware Newer built in ironing board in closet Huge/Oversized walk-in Closet HALL BATHROOM: Newer mirror with tile surround Newer cabinet Newer quartz countertop Newer Kohler sinks Newer faucets Newer bathroom hardware Newer Toto toilet Newer bathroom fan Newer Kohler heat retaining bathtub Newer tile in shower Newer shower head Tankless hot water heater for master and hall bath - 2022 Hot water heater - kitchen, laundry room and guest bath Newer water softener Outdoors: All block walls repaired, sealed and painted. Irrigation system checked with all new drip lines and emitters installed, all new lawn heads installed, by irrigation company Grass - plug aerated in 2022 (watering costs run between $150-$300 on average depending on the season). Newer pool water clock installed, remaining two clocks checked by irrigation company Swimming pool/Spa - all work completed in 2023 Pebbletec with LED Lighting Swimming pool is 20'x40' could be suitable for diving. There is also a large play step in the shallow end for relaxing or for young children. Pool is completely fenced with two decorative gates that can be locked. Pool Upgrades include: Newer interior tile border Newer in floor cleaning system Newer Pebble Tec interior (pool & Spa) Newer LED lights Cool deck resurfaced Newer pool heater Pool raised planter area resurfaced and sealed Backyard - large and park like area Large raised garden beds with separate irrigation. Three connected beds suitable for large vegetable, flower and herb gardens. Four carefully chosen citrus trees: prolific Lisbon lemon, blood orange, Minneola tangelo and Arizona sweet. Fig tree Large grassy space suitable for soccer, volleyball, badminton, croquet, informal baseball game. MLB regulation batting cage with new LED night lights - can also be used to practice your golf swing. There is additional room for a putting green, sports court, built in play sets, guest house/second office, gazebo, outdoor kitchen. You are limited only by your imagination in the ways that you can enjoy this spacious backyard. Garage: Complete wall of new storage cabinets There is extra roof covering material and luxury vinyl planks for changes, add-ons you may choose to do.
37181 N 103rd Street
Scottsdale, AZ 85262
$1,640,000
4
Beds
3.5
Baths
3,952
SqFt
Status
Active
MLS #
6659778
Property Type
Single Family Residence
Price Type
--
Located in the luxurious gated community of Cresta Norte, this 4 bedroom, 3.5 bathroom, 3 car garage Toll Brothers masterpiece is nestled in a private cul-de-sac with unobstructed views of Pinnacle Peak Mountain. Expansive courtyard with solid redwood doors leads to a dramatic entry. An entertainer's dream, this back yard contains an amazing 1200 sqft putting green, pool with cave waterfall, spa with glass fire pit, 2 covered patios, built in grill and countertop and a bar just steps inside the door. Inside, this split floor plan is ideal for any family or visitors alike. The master suite resides on one wing of the house bosting its own fireplace (1 of 3 in home), his and hers walk in closets, his and hers sinks, double shower, and jetted tub. The other wing has 3 large bedrooms all with en suite bathrooms. Amazing eat in kitchen with granite & stainless steel throughout and island. Bonus game room, custom wine cellar, amazing views, new AC units, tankless hot water heater. This property has been meticulously maintained by these second owners since 2007. Truly has it all.
8901 N 87th Court
Scottsdale, AZ 85258
$1,639,000
4
Beds
3
Baths
2,706
SqFt
Status
Active
MLS #
6754801
Property Type
Single Family Residence
Price Type
--
Welcome Home to this Gorgeous Fully Remodeled Modern 4 Bdrm, 3 Bath Home w Great Room, Living Room, Formal Dining, Chef's Kitchen w/ Decton Countertops, Diving Pool, Putting Green, and Custom Features all on a Cul-de-Sac Lot! The home underwent a full remodel in 2020 including windows and roof replacement and owners continued remodel by adding a 3rd bathroom. The 4th bedroom or in-law quarters comes complete with a private entrance and is perfect for extended family and guests. Spend countless hours entertaining in the amazing backyard with the 10 foot deep pool, 20X40 covered ramada and golf putting green. This home combines luxury and practicality, making it the perfect choice for any buyer seeking comfort, style and outdoor living at it's finest all in the school district w the 3 Cs
9590 E Quarter Circle Loop
Gold Canyon, AZ 85118
$1,635,000
4
Beds
3
Baths
2,785
SqFt
Status
Active
MLS #
6696137
Property Type
Single Family Residence
Price Type
--
Beautiful new custom Home located in Gold Canyon East at Barkley Ranch with a Golf Course View of the 10th Green of the Dinosaur Course. This home exudes incredible views of outdoors and seems to bring those elements inside the home. The home has beautiful cabinetry, beautiful countertops and is full of beautiful details and incredible home finishes from wood flooring and wood ceiling boxed beams, marble master bath, to a built in barbecue. The home is nestled around a resort style pool with tiled Baja shelf and spa overlooking beautiful stoned columns with copper scuppers that pour water into the pool. (click on More...) The patios have travertine pavers and synthetic grass and firepit inside the fenced yard overlooking the 10th green of the golf course with beautiful views from all of the main rooms of this incredible new custom home. Home is almost completed and will be ready to move in soon.
2850 E Boot Track Trail
Gilbert, AZ 85296
$1,635,000
4
Beds
3.5
Baths
3,806
SqFt
Status
Active
MLS #
6740749
Property Type
Single Family Residence
Price Type
--
Welcome to this unrivaled gem in Warner Groves at Morrison Ranch, now available! 4 beds, 3.5 baths, game room, den, & dining (enclosed with french doors & can be used as bedroom). This beauty flaunts a well-manicured landscape, brick detailing, a cozy front porch, and a 3-car garage with a paver driveway. Prepare to be impressed by an exquisite interior featuring an inviting hallway adorned with pendant lighting! The spacious living room highlights expansive windows, recessed & decorative light fixtures, calming color schemes, gorgeous hardwood floors, and a built-in entertainment hutch with an electric fireplace. The heart of this home is the stunning eat-in kitchen, designed with high-end SS appliances, including a gas cooktop and a wall oven. Elegant quartz counters, recessed lighting, a subway tile backsplash, a plethora of white shaker double stak cabinetry, a walk-in pantry, and a large island with a breakfast bar elevate the space. Discover a sizable den with stylish tile flooring and a charming chandelier ideal for a home office. The two bonus rooms are excellent for an additional bedroom or a game room! Find your sanctuary in the romantic main suite, showcasing a luxurious ensuite with a sliding barn door, dual vanities, a stand-alone tub, a seat-in tiled shower, a walk-in closet, and direct backyard access. Secondary bedrooms enjoy a Jack & Jill bathroom. Modern conveniences include a water softener and a tankless water heater. The home's elegance extends outdoors to the enchanting backyard. A covered patio, a Travertine tile flooring, artificial turf, a built-in BBQ, and a crystal blue pool complete the picture. Excellent location! It has easy access to the 202 and 60 freeways, restaurants, shopping, and more. Plus, it's within the highly rated Gilbert Schools district. Hurry! Your paradise awaits!
2477 E Glenhaven Drive
Phoenix, AZ 85048
$1,634,000
5
Beds
3.5
Baths
4,324
SqFt
Status
Active
MLS #
6772786
Property Type
Single Family Residence
Price Type
--
Nestled on nearly 2.5 acres of pristine hillside, this custom home offers the perfect blend of luxury, privacy, and breathtaking views. Located in a prime Ahwatukee location on the edge of a mountain preserve, this architectural gem is truly one of a kind and boasts 5 bedrooms, 3.5 baths, a huge game room, multiple high-end modern built-ins, and an expansive 4-car garage and RV-niche with ample room for all your toys. Step inside to discover stunning contemporary design features, including designer concrete floors, soaring ceilings, rounded walls, and 8' single-panel interior doors. Seamless windows flood the space with natural light, while unique art niches and a dramatic curved staircase make a striking impression. The newly updated kitchen, completed in 2024, is a chef's dream with a Wolf gas cooktop, Sub-Zero fridge, 144-bottle built-in Sub-Zero wine fridge, quartz countertops featuring a waterfall breakfast bar, and a matching quartz backsplash. Fresh interior paint throughout offers a modern, crisp feel. This home has tons of storage! The primary bedroom with an en-suite bathroom, was fully remodeled in 2021, and serves as a luxurious retreat. The spacious bedroom with two balconies provides generous mountain views and pocket patio door. The en-suite bathroom features a luxurious freestanding bathtub lighted by a stunning glass chandelier overhead, glass tiled walk-in shower, floating vanity with dual sinks, leather finish granite, sleek designer fixtures, and his and hers walk-in closets. The master bathroom will make you feel like you are at the spa! Every detail has been thoughtfully designed to create a serene escape and elegant atmosphere. Want fun? The game room is spacious enough to fit the pool table, an 18' foot shuffle board, and arcade and pinball machines. The home also features a built-in sound system that ensures you can enjoy your favorite music throughout. The resort-style backyard, immediately adjacent and just outside the large pocket slider, is an entertainer's paradise, complete with a remodeled pool with newly installed copper water features, nearly $30K worth of modern Turkish travertine decking, extensive landscape lighting and awe-inspiring mountain views. Whether lounging by the pool or enjoying outdoor dining, you'll appreciate the peaceful privacy this hillside retreat offers. Located in an award-winning school district, within walking distance of highly performing elementary, middle, and high schools, and minutes from South Mountain Park, shopping, dining, and Phoenix Sky Harbor International Airport, this home combines luxury living with convenience. This is a rare opportunity to own a one-of-a-kind home in a desirable Ahwatukee location, offering both convenience and serene mountain living. Don't miss out!
1523 N 103rd Street
Mesa, AZ 85207
$1,630,000
4
Beds
4.5
Baths
4,279
SqFt
Status
Active
MLS #
6787619
Property Type
Single Family Residence
Price Type
--
NE Mesa living without an HOA. Sitting on just under one-acre corner lot. Meticulously Maintained with no expense spared. Beautiful curb appeal with amazing mountain views, Sunrise/sunsets in all directions. Prime location, within walking distance to Trail heads at Usery Mt. Regional Park, and short driving distance to nearby Canyon and Saguaro Lakes. Private courtyard with stone fountain. Enter the grand foyer with vaulted ceilings thru the huge arched iron door with 22' ceilings in great room. Custom kitchen with stainless-steel built-in Viking appliances and a Thermador gas cooktop, custom staggered cabinetry with granite countertops. There are 2 islands & a raised wet bar area that separates the kitchen. Travertine floors throughout the main living areas. There are 3 ensuite bedrooms, all with walk-in closets. The master has lighted ceiling, a huge master bath w/separate vanity, walk in shower, walk in closet w/custom cabinets and its own washer & dryer. Plenty of space to store your toys in the detached shop. Stunning back yard with pool, hot tub, gas fire pit, outdoor shower, and putting green. Then retreat to the observation deck to take in the beautiful sunsets.
9598 E Southwind Lane
Scottsdale, AZ 85262
$1,630,000
3
Beds
3
Baths
3,176
SqFt
Status
Active Under Contract
MLS #
6786391
Property Type
Single Family Residence
Price Type
--
Experience luxury living in the sought-after Fairways at Troon North! A stunning custom iron glass door welcomes you to this 3-bedroom, 3-bathroom residence featuring an updated floor plan, masterfully redesigned to create an open concept layout that combines both style and functionality. The gourmet kitchen is equipped with Bosch stainless steel appliances, a GE Monogram refrigerator and cooktop, Dacor wine coolers, and an under-counter Wolf microwave. The light and bright great room boasts large windows that flood the space with natural light, complementing the beautiful finishes found throughout the home. The office is tastefully appointed with custom built-in bookcases and cabinetry. The spacious primary suite offers a tranquil escape with an en-suite bathroom and sliding glass doors leading to the backyard oasis. Outside, enjoy the beautifully upgraded backyard that is perfect for entertaining or relaxing in style with a patio pergola, misters, Sedona Lynx grill with built-in seating, a cozy stone fireplace, outdoor lighting, and lush vegetation that creates privacy. Located in the heart of Troon North, minutes from Troon North Golf Club, Tom's Thumb Trailhead, and a variety of dining and retail options, this home offers unparalleled luxury in one of Scottsdale's most desirable communities.
7934 W Orangewood Avenue
Glendale, AZ 85303
$1,625,000
2
Beds
1.5
Baths
1,080
SqFt
Status
Active
MLS #
6746362
Property Type
Single Family Residence
Price Type
--
Large 3.6 Acre Ranches are scarce in Glendale, but this sprawling horse property is available! The main residence features an inviting living room with a soothing palette and carpeting. Two cozy bedrooms provide peaceful retreat. Additionally, a separate modular home on the property offers versatile additional living space. The detached garages accommodate up to six vehicles & extensive storage space. The expansive grounds are an equestrian lover's dream, offering vast space for horses and facilities to maintain and train your equine companions. Don't miss out on this fantastic opportunity! R-6 Zoning also permits for developing a community if you are looking to invest and develop in the sought after city of Glendale this is your opportunity! Lets talk about the infinite possibilities!
23632 N 81st Place
Scottsdale, AZ 85255
$1,625,000
5
Beds
3.5
Baths
3,581
SqFt
Status
Active
MLS #
6766115
Property Type
Single Family Residence
Price Type
--
Wow, just wow! Exceptional 5 bed 3.5 bath custom home sits on over one-acre lot in a cul-de-sac in Pinnacle Peak Estates. The impressive interior boasts tile flooring, recessed lighting, and vaulted ceilings. The spacious gourmet eat in kitchen showcases a plethora of cherry wood cabinets, tile backsplash, granite counters with a huge island. Owner suite has been remodeled to include heated floors. One bedroom is en-suite with a walk-in shower. Backyard is a dream, from the large resurfaced pool with waterfall and spa, to the built in grilling area with bar and a greenhouse. Pride of ownership shows with the freshly painted exterior, paid off solar and new roof. There is even an airconditioned playhouse and playground. Plenty of room on the lot left for a guest home. Location is A+ built-in appliances, and an oversized island with a breakfast bar. The primary bedroom hosts outdoor access, plush carpet, a seating area, and a full ensuite with two vanity sinks, a jetted tub, a step-in shower with frosted glass doors, and a walk-in closet. The backyard is an entertainer's dream, featuring an extended covered patio, a pergola with an outdoor kitchen, multiple paver seating areas, and a fantastic pool with spa, grotto & slide. Everything you're looking for, you'll find it here! Don't miss this one-of-a-kind opportunity. Act now!