Last week’s economic news included several good signs for U.S. Labor Markets with higher than expected readings for private and public sector job creation. The Federal Reserve announced its decision not to raise the target federal funds range, and inflation rose. Mortgage rates held steady and pending home sales rose.
Private and Public Sector Jobs Post Unexpected Gains
ADP, which tracks private-sector job growth, showed a gain of 246,000 jobs in January against expectations of 168,000 new jobs and December’s reading of 151,000 private sector jobs created. Analysts said 208,000 of jobs added were service-related jobs. January’s Non-Farm Payrolls, which is issued by the Labor Department and includes private and public sector jobs, also posted higher than expected job gains with 227,000 new jobs in January as compared to 197,000 new jobs expected and December’s reading of 157,000 new jobs. Retail, construction, financial and restaurant industries led job growth. The jump in construction hiring could indicate that home builders will expand construction in an effort to ease short inventories of homes for sale.
The national unemployment rate rose to 4.70 percent in January and matched analysts’ expectations based on December’s reading of 4.60 percent. New jobless claims were lower than expected with a reading of 246,000 new claims against expectations of 254,000 new claims and the prior week’s reading of 260,000 initial jobless claims.
Mortgage Rates Little Changed; Pending Home Sales Up
Freddie Mac reported little change in mortgage rates last week. Interest rates for 30-year fixed rate mortgages averaged 4.19 percent and were unchanged from the prior week. Rates for 15-year fixed rate mortgages rose by one basis point to 3.41 percent and the average rate for a 5/1 adjustable rate mortgage rose three basis points to 3.23 percent. Discount points averaged 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.
In related news, the Federal Reserve’s Federal Open Market Committee decided not to rate the Fed’s target rate that is currently 0.50 to 0.75 percent. Fed benchmarks for the economy include an unemployment rate of 5.00 percent or lower, but the annual growth inflation benchmark of 2.00 percent has not been met. January’s inflation rate rose by 0.10 percent above December’s reading of 0.0 percent.
Pending home sales increased in January with an increase of 1.60 percent; this exceeded December’s negative reading of -2.50 percent in December. Analysts said that the growth in pending home sales, which represents sales under contract that have not closed, reflects ongoing high demand for homes. Pending sales also suggest future volume for completed sales and mortgages.
Consumer confidence lagged in January to an index reading of 111.80 as compared to an expected reading of 112.90 and December’s reading of 113.30. December’s reading was the highest in 15 years. Analysts cited post-election uncertainty as contributing to consumer concerns.
What‘s Ahead
This week’s scheduled economic reports include weekly releases on mortgage rates and new jobless claims along with readings on job openings and consumer sentiment.
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21639 N 55th Drive Glendale, AZ 85308
$1,399,999
6
Beds
4.5
Baths
4,874
SqFt
Status
Active
MLS #
6720104
Property Type
Single Family Residence
Price Type
--
Welcome home to your Arrowhead Lakes, Mediterranean inspired oasis! Your Tuscan style home is complete with an original hand-crafted entertainment center with built in fireplace perfect for relaxing in front of to take in the mountain and lake views. 5 hand painted niches, Venetian plaster, marble like columns, granite counters, travertine, wool carpet, and stained glass windows are just a few of the many custom touches throughout the house. This spacious and inviting floor plan boasts 6 bedrooms (2 on main floor) and 4.5 bathrooms (1.5 on main floor). Enjoy the views from the front balcony, back balcony, or the patio in the back that comes complete with an outdoor fireplace and built in bbq. Enjoy full lake access from private dock or relax in the play pool.
15705 E Centipede Drive Fountain Hills, AZ 85268
$1,399,999
5
Beds
4
Baths
4,781
SqFt
Status
Active
MLS #
6709233
Property Type
Single Family Residence
Price Type
--
Prepare to be captivated by breathtaking views of city lights and majestic mountains, perfect for day and night enjoyment. This home showcases pride of ownership with a spacious layout, most living areas conveniently located on the first floor. The kitchen features granite countertops and modern stainless steel appliances, ideal for entertaining. Relax in the grand master suite, while the downstairs includes an additional master suite and versatile bonus space for a game room, home office, or exercise room. Step outside to oversized verandas with stunning sunset views and twinkling lights. Enjoy your private oasis with a Pebble Tec pool and spa, surrounded by beautiful outdoor spaces featuring fig and citrus trees. Abundant storage, plantation shutters, and an oversized three-car garage.
19650 E Jeanna Court Queen Creek, AZ 85142
$1,399,999
3
Beds
3.5
Baths
3,898
SqFt
Status
Active
MLS #
6732118
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home nestled in the heart of tranquility and luxury in Whitewing at Whisper Ranch. This exquisite three-bedroom residence combines designer touches with unparalleled outdoor amenities, offering a lifestyle of comfort and sophistication. Designer finishes and meticulous attention to detail throughout. The great room is adjacent to the dining area and gourmet kitchen- which is a culinary masterpiece, boasting top-of-the-line appliances, quartz countertops, and two center islands ideal for both casual dining and entertaining guests. Don't miss the center courtyard with dual access points and fall in love with the designer lighting and custom touches throughout. The primary suite is a serene retreat, complete with a spacious bedroom area, a walk-in closet, and an en-suite bathroom featuring a soaking tub and a separate glass-enclosed shower. Two additional bedrooms (each with en-suite baths) offer ample space for family or guests, each thoughtfully designed with comfort in mind. The home's large flex space is perfect for an exercise area, home theatre (it is prewired!) or huge playroom. Beyond the interior lies the true jewel of this property: an expansive backyard oasis. Step outside to discover a resort-like setting featuring travertine patio and a sparkling pool for refreshing dips on sunny days (it's heated for chilly days too!). Adjacent, a luxurious spa invites you to unwind under the stars. The outdoor kitchen, tucked under a large pergola, is equipped with a built-in grill and ample counter space, beckoning you to indulge in al fresco dining experiences. The landscaping with artificial turf, enhances the ambiance, creating a private paradise that is perfect for relaxation and entertaining. Fenced dog run located on one of two oversized sideyards, while your second sideyard features an RV gate with plenty of space to store your toys! HOA allows for casita or RV garage construction in sideyard too! Experience the epitome of luxury living in this meticulously designed home with unparalleled outdoor amenities. Whitewing at Whisper Ranch is a gated community featuring children's play area, clubhouse with communal kitchen and seating, dog run and more, located just minutes from Queen Creek's dining, shopping and entertainment areas.
14411 N Valencia Drive Fountain Hills, AZ 85268
$1,399,995
3
Beds
3
Baths
2,090
SqFt
Status
Active
MLS #
6691514
Property Type
Single Family Residence
Price Type
--
MOVE IN READY! This contemporary Meyer home is our most popular plan and has the study modified to a third bedroom and bath as well as a third garage! A nice front courtyard area is created with the placement of the additional garage making for great outdoor space and inviting entrance to the home. This home features a beautiful open foyer and the kitchen boasts white cabinets, a huge island and Wolf appliances including a 48'' slide in range and 48'' built in sub zero refrigerator! The 3rd bedroom has a nice walk-in closet and the primary bedroom is tucked nicely in the back of the home. The primary bath is lovely with a fre standing tub, walk-in shower and great walk in closet! This home is nicely decorated and waiting for you!
1717 E Minton Street Mesa, AZ 85203
$1,399,991
4
Beds
3.5
Baths
3,079
SqFt
Status
Active
MLS #
6786892
Property Type
Single Family Residence
Price Type
--
Welcome to this NEW stunning 4-bedroom, 3.5-bathroom residence in the prestigious gated community of Overlook at Forest Knoll! It greets you with stone accents on the facade, a 3-car garage, a paver driveway, and an RV gate. Discover bright and spacious living areas for relaxation and memorable moments with loved ones. Wood-look floors, recessed lighting, upscale ceiling fans, and sliding glass windows that merge indoor and outdoor activities are some features that you'll also adore. Hone your cooking skills in the sleek kitchen showcasing SS appliances with a wall oven, built-in ice maker, quartz counters, built-in ice maker, pristine white cabinets, a walk-in pantry, and a center island. Retreat to the luxurious primary bedroom, a true sanctuary with a lavish ensuite boasting dual sinks, a make-up vanity, a soaking tub, and a generous walk-in closet. Outside, the sizable backyard offers an array of potential for your creative landscaping ideas and tranquil neighborhood views. This gem will sell fast!
1621 E Rolling Rock Drive Phoenix, AZ 85086
$1,399,900
5
Beds
2.5
Baths
4,290
SqFt
Status
Active
MLS #
6769373
Property Type
Single Family Residence
Price Type
--
This expansive single-level home offers an exceptional combination of luxury, comfort, and functionality. With 5 bedrooms and 3.5 bathrooms spread over 4,290 square feet, it provides ample space for family living and entertaining. The home features split floor plan, ensuring privacy for the primary suite and guest suite. The gourmet kitchen is a chef's dream, equipped with stainless steel appliances, an oversized working island, granite countertops, and ample cabinetry. The primary suite is a private retreat with two spacious walk-in closets, an ensuite bath featuring a dual sink vanity, a separate tub and shower, and a private exit to the backyard, where you'll enjoy stunning views of Apache Peak, Circle Mountain, and Pyramid Peak. One of the bedrooms is designed as a guest suite with its own ensuite bath and separate exit to the backyard, providing ultimate convenience and privacy for visitors. The outdoor space is equally impressive, with a fully landscaped 1-acre lot that includes a pergola, sparkling pool, waterfall, and low-maintenance turf. There's also plenty of room for RV parking, making this home ideal for those who enjoy adventure and travel. The paver driveway leads to a 3-car epoxy garage, complete with built-in cabinets and a 220 outlet for electric vehicle charging. With 10-12' ceilings throughout, Travertine and carpet flooring, two newer AC units, and a water heater that is approximately 3 years old, this home has been thoughtfully designed and maintained for maximum comfort and efficiency. Whether you're enjoying the breathtaking mountain views or hosting gatherings in the beautiful backyard, this home offers a truly exceptional living experience.
7180 E Kierland Boulevard Unit 415 Scottsdale, AZ 85254
$1,399,900
2
Beds
2
Baths
1,657
SqFt
Status
Active
MLS #
6752162
Property Type
Townhouse
Price Type
--
In the 7180 building of Optima Kierland, this 2 bed, 2 bath condo that graces 1675 sq. ft. It features open space, ample closets, and a picturesque patio space off the primary bedroom. East facing, the unit boasts tranquil mountain views and is bathed in natural light, thanks to floor-to-ceiling windows. The modern layout features Bosch appliances, including an electric oven and gas cooktop. Built in 2021. Original owner. It comes with two parking spots. The Sky Deck adds luxury with a heated pool, spa, and running track. Not to be outdone, an outdoor theater and fire pit featuring seating for beautiful nights. Right outside, Kierland Commons and Scottsdale Quarter offer dining and entertainment. A blend of luxury and optimal location, it offers the best of Scottsdale!
33207 N 12th Street Phoenix, AZ 85085
$1,399,900
4
Beds
3.5
Baths
4,060
SqFt
Status
Active Under Contract
MLS #
6778967
Property Type
Single Family Residence
Price Type
--
Prepare to be amazed! Check out this luxurious 4 bed, 3.5 bath tri-level home now on the market! Great curb appeal, a manicured desert landscape, 6 garage spaces, and a paver driveway are just the beginning. Discover a sizeable living area showcasing elegant wood flooring, high ceilings w/exposed wood beams, plantation shutters, a fire place, and a wet bar perfect for entertaining. Continue into the spacious family room, where you can spend quality time w/friends & loved ones. The chef's kitchen is comprised of wood cabinetry w/crown moulding, a walk-in pantry, granite counters, pendant lighting, SS appliances, a prep island, and 2 breakfast bars. You'll love the primary bedroom, boasting a 2nd fireplace, direct outdoor access, a walk-in closet, and a lavish ensuite w/dual vanities. Lastly, the wonderful backyard includes a covered patio, extended seating area, an outdoor fireplace, putting green, a refreshing pool/spa combo, and stairs leading to a rooftop deck! What are you waiting for? Act now!
185 W Marilyn Way San Tan Valley, AZ 85140
$1,399,900
3
Beds
3
Baths
2,200
SqFt
Status
Active
MLS #
6521381
Property Type
Manufactured Home
Price Type
--
The best built and most innovative horse property I have ever had the privilege to list. Must see to appreciate. Spoil your horses with heated water at the wash rack, Horse barn has 8 large stalls 15X 30 , 2 more stalls that are currently cut in half for goats and sheep but can be easily converted to the 15X 30 stalls.. The horse barn has a concrete breezeway. Under the roof is a killer 15 x 30' r tack room with a bathroom and is lined with rough cut lumber . All drinkers are run off one float , the barn has enough room to keep a huge live in horse trailer and truck under roof with plugin. 200 amp service to the barn and arena. . 5,000 gallon storage for the arena sprinkler system that can be run remotely from an app on your phone. Arena is 180x335' Calf and team roping chute . The arena ground is perfect with imported sand. , there is also an alley set up for roping calves. Arena lights a LED ( very cheap to run) The end of the arena is a stripping chute and numerous catch pens. Hay barn . Solar runs the barn and arena lights and everyting in that part of the property.
2112 E Kerry Lane Phoenix, AZ 85024
$1,399,000
6
Beds
5.5
Baths
4,535
SqFt
Status
Active
MLS #
6779901
Property Type
Single Family Residence
Price Type
--
Back on market!! With a massive $400k price cut. This is now your chance to own a one-of-a-kind mansion built on a former gold mine. And YES! mineral rights do convey with title. Carved into the bedrock of The Phoenix Mountain Preserve the new owners will benefit from views of the entire valley. Conveniently located in the PV school district, and just minutes away from Desert Ridge, Scottsdale and Paradise Valley. Noteworthy Items: 1) 2nd floor newly remodeled. 2) 400ft wide lot. 3) 30-foot ceilings 4) No HOA. 5) Sub-Dividable Lot. 6) RV Garage, with w/c & mezzanine level. 7) Fire Sprinklers throughout the house, casita and garages. 8) Gas and city sewer. 9) Casita with kitchenette.
213 El Camino Tesoros -- Sedona, AZ 86336
$1,399,000
3
Beds
3
Baths
2,714
SqFt
Status
Active
MLS #
6705042
Property Type
Single Family Residence
Price Type
--
Serene, secluded, and lovingly maintained, this exceptional Sedona mountain retreat offers a breathtaking escape that feels a million miles away from the stresses of everyday life! Set back from the street, this single-story 3-bedroom, 2.5-bath haven stands proud on 0.47 acres of sylvan land. Low-maintenance landscaping and towering mature trees border the driveway while making your way to the entry, where artisan stained glass double doors usher you into an equally impressive interior. Elegant natural tones and beautiful tile and hardwood flooring are on show across the foyer, guiding guests towards the step-down living room with a custom concrete fireplace and stylized wood-clad ceilings. Wide glass doors leading to the deck encourage seamless indoor/outdoor entertaining. Expansive picture windows frame breathtaking views while filling the dwelling with abundant sunlight. In the adjacent dining area, showcase your China collection or personal memorabilia in two built-in hutches while the atmosphere is enhanced by a sophisticated chandelier. Bright and well-sized, the gourmet-inspired kitchen treats the avid cook to a full set of stainless steel appliances, a wall of handsome cabinetry, and gleaming granite countertops that extend to the multi-seater bar and island. Take your morning meals in the pendant-lit breakfast nook where glass sliders invite you to dine alfresco. Three stylish and comfortable private bedrooms await you after a long day, two of which are accommodated by an attractive shared bath with a shower/tub combo. Outshining the others, double doors leading to the primary suite reveal an unparalleled oasis highlighting a striking Kiva fireplace, exclusive balcony access, and a large customized walk-in closet. Indulge in a rejuvenating soak in its luxurious ensuite with dual vanities, a separate glass step-in shower, and a spa-like tub. Head outside and host weekend BBQs, relax under the covered sitting area, or bask in the sun and fresh breeze on an extensive, wrap-around deck where you can unwind with vistas of the Red Rocks in sight. A few stairs down, explore the rest of your acreage and the nearby woodlands that present endless potential for outdoor recreation. Other notable features are the large laundry/craft room, Pet deck, powder rooms, reverse osmosis, water softener, all appliances stay, and an attached 2-car garage with a ton of storage. Adventure enthusiasts will enjoy its close proximity to several hiking trails like the Outer Limits, Schuerman Mountain, Scenic Overlook, Lover's Knoll, and Cathedral Rock. Plus, Sedona Red Rock High School and downtown Sedona's shops, restaurants, and other conveniences are just a short drive away. This is a community of No STR.
8175 E Del Cuarzo Drive Scottsdale, AZ 85258
$1,399,000
3
Beds
2
Baths
1,935
SqFt
Status
Active
MLS #
6787186
Property Type
Townhouse
Price Type
--
AN AMAZING OPPORTUNITY to have a charming single level home on ONE OF THE MOST COVETED LAKEFRONT LOTS in McCormick Ranch. This meticulously maintained, warm and cozy home has a picturesque view of Lake Angela and mountain views. It offers A RARE BLEND OF MODERN UPGRADES, TIMELESS CHARM, AND AN UNBEATABLE LOCATION. Enjoy breathtaking mountain views, serene lakeside living, and effortless access to vibrant restaurants and shops that are within walking distance. Step inside to discover a stunning remodel featuring a brand-new kitchen with sleek finishes, updated baths, and elegant new vinyl wood flooring throughout. Bright and airy, the home boasts new Pella windows and doors that frame the scenic surroundings, allowing natural light to pour in. Gather around the charming fireplace... ... on cooler evenings, or step out onto the low-maintenance outdoor patio, perfect for relaxing or entertaining while soaking in sunsets over the lake and mountain views. Whether enjoying the peaceful ambiance of Lake Angela, exploring the amenities of McCormick Ranch, or walking/riding the trails to Scottsdale and Tempe, THIS PROPERTY OFFERS A LIFESTYLE OF CONVENIENCE AND SERENITY. Don't miss your chance to own this beautifully updated gem in one of the most desirable locations.