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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7247 N 6th Place
Phoenix, AZ 85020
$1,299,950
4
Beds
3
Baths
3,128
SqFt
Status
Active
MLS #
6761156
Property Type
Single Family Residence
Price Type
--
Realize your dream home in the heart of North Central Phoenix, surrounded by multi-million-dollar estates. This perfectly remodeled ranch-style residence, featuring a versatile second story, offers an ideal blend of comfort and functionality, perfect for both work and family life. Sixth Place, south of Orangewood Avenue is in a coveted community and delivers impressive curb appeal in a true neighborhood. Inside, over $200,000 was invested in renovations over the past two years. Upgrades include luxury vinyl plank flooring, high-end carpet, and porcelain tile, a new roof (2023), two new AC units, solar panels, and fresh interior paint. The kitchen windows flood the space with natural light framing the exclusive nook and countertop. Choose the oversized island or move into the dining or large family room with views of the park-like backyard, for meals or fun gatherings. The split primary suite boasts motorized shades, two walk-in closets, and a deluxe bath area. On the opposite side of the home, you'll find three additional bedrooms and two bathrooms. The expansive upstairs room is perfect for entertaining or as a spacious home office, featuring vaulted ceilings, ample storage and dual-pane windows throughout. Enjoy your playful paradise as the expansive backyard showcases a large covered patio, diving pool, lush grass space, and mature shade trees. With easy access to all areas of the Valley, your new home offers the ultimate in convenience and luxury living.
37751 N Linda Drive
Cave Creek, AZ 85331
$1,299,900
3
Beds
2
Baths
2,501
SqFt
Status
Active
MLS #
6771022
Property Type
Single Family Residence
Price Type
--
Brand New and Move-In Ready! Nestled into a mountain outcropping, an acre lot with no HOA, this gorgeous, modern home offers stunning, up-close views and intimate privacy. Enjoy nearby hiking at Black Mountain Summit Trail and a convenient commute to local shops and dining. Inside, high ceilings, 8' doors, and designer finishes create a light-filled, open-concept living space. The gourmet kitchen boasts a large granite island with bar seating, premium appliances, and a spacious walk-in pantry, flowing seamlessly into the Great Room with a striking fireplace. The luxurious, split primary suite enjoys incredible views of Black Mountain and access to the outdoor patio, perfect for adding a hydro spa for stargazing. The spa-like bathroom boasts dual vanities, a soaking tub, and a large shower with dual heads. Two additional bedrooms include walk-in closets, and an office, (or 4th bedroom) has access to the courtyard. The home is complete with a 3-car garage, hobby room, and high-end finishes throughout, including designer lighting, custom tile, granite countertops, and premium cabinetry. Built by a trusted custom home team with 30+ years of experience, this home blends luxury, craftsmanship, and a prime, in-town location.
12121 E Remuda Lane
Mayer, AZ 86333
$1,299,900
5
Beds
5
Baths
6,693
SqFt
Status
Active
MLS #
6746811
Property Type
Single Family Residence
Price Type
--
Beautiful Home with Magnificent Views in Mayer with no HOA. Plenty of room for cars, toys, and much more on this 3+ acre lot. Downstairs features additional living area including: movie theater room, additional kitchen, 2 bedrooms with a luxurious steam shower in the bathroom. Walk out onto the covered patios for endless views. Home has zoned HVAC with 2 separate zones. Oversized Workshop below. Come take a look at this magnificent home and make it yours.
24809 N Vado Court
Rio Verde, AZ 85263
$1,299,900
3
Beds
2.5
Baths
3,170
SqFt
Status
Active
MLS #
6777688
Property Type
Single Family Residence
Price Type
--
Spectacular Views on Amazing lot. This is the Location of locations. The Rodeo Drive of Rio Verde. Sprawling great room with amazing Mountain & Golf Course views. Heightened wood beam ceilings, Ceiling fans, Dining area & breakfast bar, granite counters fire place inside & out. Wrap around patio offers amazing views and several places to relax & enjoy the day. Huge elevated lot offers tons of privacy. Outdoor fireplace with built in BBQ. Garage features storage cabinets & a service door to walled & gated side storage area. Large separated bedrooms, jetted tub and so much more. Don't miss out, this type of property doesn't come along often.
20554 W Pasadena Avenue
Buckeye, AZ 85396
$1,299,900
3
Beds
3.5
Baths
3,341
SqFt
Status
Active
MLS #
6756062
Property Type
Single Family Residence
Price Type
--
Stunning Serendipity by David Weekley home is situatted on corner lot facing Georgia Park in Victory at Verrado has 3 bed, 3.5 bath, den, & hobby room (set up as a gym), features a courtyard at front door with a fountain. Outdoor living abounds with a large covered north-facing rear patio, full-size pool w/ baja shelf, hot tub/spa, gas fire pit, & kitchen/bbq/bar area w/pergola. Inside, the home is equipped with so many options/upgrades/updates, including gourmet kitchen appliances, plantation shutters, upscale ceiling fans, RO system, & full house audio video by Control4. Engineered wood floors run throughout the home, with wood-look tile in the bathrooms. The home also features a spaciuos 2.5-car garage featuring an epoxy floor. Hurry, this will not last long!
1920 E Schooner Court
Gilbert, AZ 85234
$1,299,900
4
Beds
3
Baths
3,542
SqFt
Status
Active
MLS #
6708481
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home in the exclusive gated community of The Regatta at Val Vista Lakes. This custom residence, masterfully redesigned by award-winning designer Steve Price of Beautiful Space Co., offers over $400,000 in luxurious modern upgrades. Be greeted by soaring vaulted ceilings + an open great room concept. Engineered wood floors span the downstairs Massive central kitchen with a 13' quartz island, high end stainless steel appliances, GE Monogram refrigerator + freezer, gas cook-top, double convection ovens, + abundant cabinetry. The inviting great room features a custom built-in wall unit with an electric fireplace. Office with amazing waterfront views off the entry, + patio access. Main floor primary suite is comple expansive en suite with a soaker tub and unique water feature, and a generous walk-in closet. The upstairs entertainment area is perfect for guests or family, including a built-in TV, bar, bathroom, and bedroom, making it ideal for a mother-in-law suite, guest suite, or kids' play area. The private backyard is a paradise where you can relax in the oversized spa that doubles as a cocktail pool. The side patio offers stunning views of the lake, accessible from the kitchen, den, and living room. Enjoy a front entrance portico and ample room to relax in the shade. The spacious private driveway leads to a 3-car secluded garage, perfect for all your storage needs. Val Vista Lakes Clubhouse offers country club living with a heated Olympic-size pool, beach pool, spa, sand volleyball, tennis, racquetball, pickleball, fishing, cardio & weight room, classes, fire pits, and more. Conveniently close to Dana Park shopping complex and top notch restaurants, including recently announced The Vig, Heritage District in Downtown Gilbert, San Tan Mall, and the 60 freeway access. Discover the unparalleled beauty and luxury of this remarkable home. Come see today and experience the best of Val Vista Lakes living!
42144 N Mountain Cove Drive
Anthem, AZ 85086
$1,299,900
3
Beds
2.5
Baths
3,437
SqFt
Status
Active
MLS #
6742477
Property Type
Single Family Residence
Price Type
--
This incredible property showcases 3,437 square feet of stunningly appointed indoor/outdoor living space and boasts exceptional mountain views! Step inside to discover a newly remodeled kitchen featuring elegant Misterio Gold quartz countertops, conveniently located pot filler, custom coffee bar, and extended island. New soft-close custom cabinetry includes drawer pull-outs, pull-out waste containers, and a pull-out spice rack, all complemented by under and over-cabinet lighting. Top-of-the-line appliances include a Wi-Fi compatible 48'' Wolf Dual Fuel Gas Range, Sub Zero Refrigerator, and Sharp Drawer Microwave. The main living area has crown moldings and takes full advantage of the breathtaking mountain views with expansive windows that frame the landscape and fill the space with natural light. The spacious owner's suite features a beautiful gas fireplace and provides captivating views of Daisy Mountain, creating a serene and private retreat. The freshly remodeled bathroom showcases new Kohler illuminated mirrors, Misterio Gold quartz countertops, new Delta Brizo fixtures, added custom linen cabinet, new custom shower interior with dual shower heads, and a new luxurious tub with a Misterio Gold quartz waterfall surround. Owner's suite includes two spacious walk-in closets. The outdoor space is an entertainer's dream with NEW artificial turf, a heated pool and spa featuring in-floor cleaning and Wi-Fi connectivity, an outdoor ramada with gas fireplace, a spacious covered patio, and putting green. Pavers have been extended down the side yard for added charm and functionality. ALL new Energy Star Certified Marvin windows with fiberglass frames and full HVAC replacement in 2018 with programmable Wi-Fi thermostats. Plantation shutters and honed Travertine throughout --no carpet. This home has been meticulously cared for, ensuring every detail is in pristine condition. Remodeled laundry room features new shaker-style cabinetry with under-cabinet lighting and granite countertops with backsplash. Extended-length garage includes insulated doors and new garage door openers with Wi-Fi connectivity, fresh epoxy flooring, and an added side door for convenience. Anthem Golf and Country Club is a guard-gated community offering two private 18-hole golf courses, two clubhouses with restaurants and fitness centers, resort-style pools, tennis and pickleball courts, and numerous classes/clubs available.
2131 Golf Links Drive
Prescott, AZ 86301
$1,299,900
5
Beds
5
Baths
3,850
SqFt
Status
Active Under Contract
MLS #
6714951
Property Type
Single Family Residence
Price Type
--
WATER -200ft ''Lakefront'' property!! Overlooking the 3rd Fairway Lake of the of Antelope Hills Golf Course with panoramic mountains, this custom contemporary has views from every room. One level living: spacious Master w/Fireplace, Great room w/Fireplace, 2nd Living/Dining room, Chef's Kitchen, Office (3rd bed) 1/2 bath, Laundry with flex space, 3/4 Bath plus a 3 car garage & Wine Cellar! The kitchen includes a 6 burner gas range, wall oven, granite counters, prep sink & huge island. Additional living and dining space includes a grand double door entrance with 25' Soaring Ceilings and a wet bar with (2) 3 panel sliders accessing the covered patio. The upper level has a 2nd Master, 2 more bedrooms w/private patios. New Exterior paint and many updates -see docs tab. A gem like no other!
2118 E Clubhouse Drive
Phoenix, AZ 85048
$1,299,900
4
Beds
4.5
Baths
4,260
SqFt
Status
Active
MLS #
6760663
Property Type
Single Family Residence
Price Type
--
Discover luxury desert living at its finest in this stunning 4 bed / 4.5 bath contemporary hillside home designed by award-winning architect Marc Soloway. Located in the hillside community of Sanctuary, this single-level home is one of two in a private cul-de-sac, nestled against a serene desert hillside with breathtaking city, mountain, & golf course views. The home features seamless indoor/outdoor living, with 1,000 sq ft of multi-level slate-style stamped concrete patios & a heated spa/pool with a waterfall feature, perfect for entertaining. New AC units in 2023 & a new roof in 2024 allow you to buy with confidence. Lots of updates! Step inside to a spacious & bright foyer leading to a grand living room with soaring ceilings, vast windows, a fireplace, & sliding glass doors that open to the back patio. The travertine tile flooring throughout the home enhances its elegant feel. The split floor plan offers ultimate privacy, with a luxurious master suite featuring a fireplace, sitting room, back patio access, & a large walk-in closet. The serene master bath boasts dual vanities, a soaking tub with mountain views, & a separate toilet room. The gourmet kitchen is a chef's dream, with granite countertops, custom cabinetry, stainless steel appliances, a 72 Monogram refrigerator, & a large island with a built-in sink & electric stove top. Additional living spaces include a formal dining area, a cozy den that can be easily converted into a 5th bedroom, & a second living room with direct access to the patio. Bedrooms #2 & #3 have en-suite bathrooms with tub/shower combos & spacious closets. Additional features include a versatile office nook with built-in desk & laundry area. 3-car garage with a separate storage area is a huge plus! Sanctuary is an exclusive, upscale subdivision nestled in the scenic desert hills of The Ahwatukee Foothills. Homes in this prestigious community are designed by renowned architects & boast contemporary, luxury designs that seamlessly blend indoor & outdoor living. With its serene environment, large lots, & proximity to hiking trails, Sanctuary provides a peaceful retreat while conveniently located near the city's amenities & attractions. This unique desert sanctuary offers luxury, privacy, & unparalleled viewstruly a one-of-a-kind opportunity!
1302 W Coronado Road
Phoenix, AZ 85007
$1,299,900
3
Beds
3
Baths
2,320
SqFt
Status
Active
MLS #
6784022
Property Type
Single Family Residence
Price Type
--
Look no further! This fantastic 3 bed, 3 bath residence in Palmcroft is the one for you! Nestled on a premium corner lot & featuring a beautiful facade w/brick veneers, a lush green landscape w/mature shade trees, and a 2 car side garage. Come inside to discover a spacious living room featuring outdoor access w/elegant French doors. Vaulted ceilings w/exposed wood beams, tile flooring, and neutral palette throughout. The fabulous kitchen is equipped w/ample cabinet & counter space, built-in appliances, and a prep island w/a breakfast bar. You'll also find a formal dining room w/a lovely bay window, perfect for hosting a dinner party. The primary bedroom showcases a large closet and a private ensuite w/dual sinks & designer touches. Don't forget about the cozy den, perfect for an office! This home features some major updates that you wont find on other listings: New sewer 2022, New HVAC 2022, New Electric and Subpanel 2022, New water lines, New flooring/baseboards, New Cabinets, Counters, Showers.
6775 E Horned Owl Trail
Scottsdale, AZ 85266
$1,299,400
5
Beds
3
Baths
3,312
SqFt
Status
Active
MLS #
6702999
Property Type
Single Family Residence
Price Type
--
Embrace the essence of desert living in your 5 bedroom 3 bathroom stunning retreat nestled in Scottsdale's serene enclave. This luxurious Carriage Trails residence offers an unparalleled blend of sophistication, comfort, and natural beauty, providing a tranquil sanctuary for those seeking the ultimate desert lifestyle. Step inside to discover an architectural masterpiece, featuring high ceilings, plantation shutters, neutral tones, a wet bar, and expansive windows that capture breathtaking views of the surrounding desert landscape. The functional layout offers a seamless flow between the living spaces, perfect for both relaxation and entertaining. The chef's kitchen is a culinary haven, equipped with matching stainless steel appliances, sleek countertops, a custom center island, R/O drinking system, and plenty of cabinet space with soft close hinges. Whether you're hosting a dinner party or preparing a casual meal, this kitchen is sure to inspire culinary creativity. Step outside to your own private oasis, where you'll find a beautifully landscaped backyard with a covered patio, a sparkling pool and spa, a fire pit, a built-in outdoor tiled island equipped with a plumbed gas barbeque and fridge, low maintenance beautiful turf, and a putting green. It's the ideal setting for outdoor dining, entertaining, and enjoying the Arizona sunshine year-round. Situated in a coveted North Scottsdale neighborhood, this home enjoys a prime location with easy access to hiking trails, golf courses, shopping, dining, and entertainment. Experience the best of desert living with all the conveniences of urban amenities just moments away! Buyers currently living in Maricopa or Pinal County ask about an ADDITIONAL $7,000 home buyer credit available on this home via the Community Promise Program. Rate Relief Rebate Program: Benefit from a 2% seller credit to reduce your mortgage payments by Approximately $1,303/month in year 1 and $668/month in year 2. This exclusive offer makes homeownership more affordable now, while you await potential rate decreases.
19980 E El Nido Lane
Litchfield Park, AZ 85340
$1,299,371
4
Beds
3.5
Baths
3,261
SqFt
Status
Active
MLS #
6752334
Property Type
Single Family Residence
Price Type
--
FORMER MODEL HOME; Fully furnished 4 bed, 3.5 bath, study, tv room and 6 car garage; fully landscaped front and backyard including backyard furniture, purgula, outdoor kitchen and gas firepit; vaulted ceiling & 16' sliding glass door in family room; tray ceiling in study & owner's retreat, custom celing and wall treatments; waterfall island, GE Monogram appliances w/refrigerator & wine/bev refrig; GE W/Dryer; upgraded plank tile flooring, custom tile in both kitchen and baths, multiple shower heads in owner's bath; clean, modern and ready to move in with all furniture and accessories.