Last week’s economic reports included readings on pending home sales, construction spending and consumer sentiment. Case-Shiller Home Price Indices for June were released, along with several labor-related reports including national unemployment, ADP Payrolls and Non-Farm Payrolls were also released along with weekly readings on new jobless claims and Freddie Mac’s survey of average mortgage rates.
Case-Shiller: Home Price Growth Holds Steady in June
According to the Case-Shiller 20-City Home Price Index for June, average national home prices held steady with a seasonally adjusted annual growth rate of 5.10 percent in June. The top three cities for home price growth were Portland, Oregon with a reading of 12.60 percent; Seattle, Washington followed with a reading of 11.00 percent. Denver, Colorado home prices grew by 9.20 percent year-over-year.
San Francisco, California, which had posted highest year-over-year price gains in recent months slipped with a reading of 6.40 percent year-over-year in June. This could signify a cooling of rapid price gains in high demand metro areas where home prices have become unaffordable for many buyers.
Construction Spending Flat in July, Pending Home Sales Increase
While builder sentiment has been strong, construction spending was flat in July as compared to an expected reading of 0.60 percent and June’s reading of an 0.90 percent increase in construction spending. The Commerce Department reported that pending home sales increased 1.30 percent in July, which exceeded expectations of 0.90 percent growth and June’s negative reading of -0.80 percent. July’s reading appeared to even out June’s unexpected slump in pending sales, which are considered an indicator for future closings and home loan volume.
Mortgage Rates, New Jobless Claims Rise
Mortgage rates rose for all three loan types reported by Freddie Mac. The rate for a 30-year mortgage rate rose three basis points to 3.46 percent; the average rate for a 15-year mortgage also rose three basis points to 2.77 percent. The average rate for a 5/1 adjustable rate mortgage jumped by eight basis points to 2.83 percent. Discount points averaged 0.50 percent, 0.50 percent and 0.40 percent respectively. Mortgage rates rose after the yield on 10-year Treasury Notes increased in response to a speech given by Fed Chair Janet Yellen that indicated that the target federal funds rate could be raised in December.
263,000 new jobless claims were filed as compared to expectations of 265,000 new claims and the prior week’s reading of 261,000 new claims. Job growth slowed in August; the Commerce Department reported a reading of 151,000 new jobs in its Non-Farm Payrolls report. Analysts expected 170,000 new jobs, which fell significantly short of July’s reading of 275,000 jobs created. Non-Farm Payrolls includes data for public and private sector jobs.
Labor Reports: Job Growth Slows, National Unemployment Holds Steady
ADP Payrolls also reported fewer private sector jobs created in August with a reading of 177,000 new jobs as compared to 194,000 private sector jobs created in July. Analysts characterized August jobs reports as “fickle” due to high numbers of summer vacations and company-wide summer holiday closures.
August’s reading for national unemployment held steady at 4.90 percent.
While slower growth in home prices and job creation could signal an economic slowdown, there was good news as consumer confidence rose to 101.7 in August; this reading surpassed the expected reading of 97.0 and July’s reading of 96.7.
What’s Ahead
This week’s scheduled economic news is lean due to the Labor Day holiday on Monday. In addition to weekly reports on new jobless claims and mortgage rates, reports on job openings and the Federal Reserve’s Beige Book report will be released.
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4632 N Regent Street
Buckeye, AZ 85396
$2,100,000
4
Beds
4.5
Baths
4,394
SqFt
Status
Active
MLS #
6682296
Property Type
Single Family Residence
Price Type
--
This is your opportunity to build an exquisite custom home in Verrado. Either design your own custom dream home with us, or build this home already specifically designed for this unique property, boasting a captivating great room floor plan and situated on an expansive, 2/3 acre lot, providing the perfect canvas for your vision of luxury living. With the unique opportunity for the buyer to choose all finishes, this remarkable residence promises an unparalleled level of customization and sophistication. Step into the heart of this home, and be greeted by a kitchen that is as functional as it is beautiful. The buyer has the freedom to select their desired stone for the island, countertops, and backsplash, creating a kitchen that reflects their personal style and taste. Every cabinet in this culinary haven is equipped with slow-close drawers and doors, embodying the seamless blend of convenience and refine craftsmanship. Viking appliances and a pot filler adds an elegant touch to the culinary experience, while the presence of a butler pantry with a separate food prep area allows for seamless organization and efficiency. With 42 upper cabinets and 30 lower cabinets, ample storage space is provided, ensuring a clutter-free environment. The 3cm countertop edge profile adds a luxurious finishing touch to this stunning kitchen. The elegance continues throughout the home with a choice of 12x24 or 24x36 tiles in all wet areas, creating a cohesive and visually pleasing aesthetic. The 8 baseboards and solid core doors add an extra layer of sophistication and durability. Step outside and discover an oasis of relaxation and entertainment. The outdoor space boasts a fully equipped kitchen with a grill, icemaker, and dual burner gas cooktop, offering the perfect setting for al fresco dining and culinary adventures. An outdoor wood-burning fireplace sets the stage for cozy gatherings on cool evenings. The centerpiece of the outdoor area is the stunning 25x50 swim-up beach pool with a separate spill-over hot tub, providing a luxurious retreat for relaxation and recreation. Every bathroom in this custom home features custom stone and tile showers, exuding opulence and sophistication. The master shower is equipped with dual body systems, ensuring a spa-like experience in the comfort of your own home. Satin nickel Moen fixtures add a sleek and modern touch throughout. For effortless entertaining, a wet bar area is thoughtfully incorporated, complete with a sink, refrigerator, and icemaker, ensuring that refreshments are always close at hand. Indulge in the opportunity to create your dream home with this exceptional custom residence. From the meticulously designed kitchen to the luxurious outdoor oasis, every detail has been carefully considered to provide the ultimate in comfort, style, and functionality. Embrace the chance to curate a space that reflects your unique vision and experience the epitome of elegance and refinement in this remarkable custom home. This amazing custom builder offers ICF construction and a Tesla Solar Roof System as affordable options to ensure your. home is net zero
12411 N 133rd Place
Scottsdale, AZ 85259
$2,100,000
4
Beds
4.5
Baths
4,596
SqFt
Status
Active
MLS #
6758712
Property Type
Single Family Residence
Price Type
--
VOTED BEST HOME ON TOUR! Panoramic views of the majestic McDowell Mountains surround this luxurious custom home in guard-gated Scottsdale Mountain, with soaring 11' ceilings and oversized windows. This home is an entertainer's paradise with wrap-around balconies, heated salt-water pool, and open floor plan. Formal living room, dining room, and family room with fireplace flow from a gourmet kitchen to complete this contemporary floor plan. All four bedrooms offer private ensuites, including a lower-level suite with a kitchenette and pool access. Plus a bonus office or nursery. Designer light fixtures and curated landscaping add to this home's mountainside elegance. Community perks include pickleball, tennis, a spa, and 24-hour security. Fine dining, golf, and top-rated schools nearby
27799 N 67th Way
Scottsdale, AZ 85266
$2,100,000
4
Beds
6
Baths
4,220
SqFt
Status
Active
MLS #
6737500
Property Type
Single Family Residence
Price Type
--
Original owner of this beautiful custom home on a corner lot in prime North Scottsdale is ready for your personal touches. From the gated entry into the private courtyard, you will be surprised to see two additional attached casitas with one bedroom and bath each allowing privacy for family and guests. Enter into the large living room combination dining room with fireplace, wet bar and bar refrigerator. Fabulous kitchen with granite counters, a breakfast bar, two built in ovens and a microwave, gas cooktop and huge refrigerator. The master suite has its own private courtyard, his and hers walk in closets, separate shower with two heads, a jetted soaking tub and two separate vanities. Bedroom 2 has an ensuite bath while Bedrooms 3 and 4 share a full bathroom between them Bedroom 4 is huge and you may consider using this room for a home theatre, family entertainment area, and it is large enough for a pool table or exercise equipment. The laundry room has lots of storage, complete with washer, dryer and a laundry sink..even a built/in ironing board. The two car garage faces the street and the third garage is side entry . So many extras in this home, you really have to see it for yourself and make it your new home.
37 W Sierra Vista Drive
Phoenix, AZ 85013
$2,100,000
4
Beds
3.5
Baths
4,173
SqFt
Status
Active
MLS #
6747449
Property Type
Single Family Residence
Price Type
--
Discover the epitome of luxury living in this 4 BR+office custom home, perfectly situated in a tranquil cul-de-sac in the heart of North Central. Spanning 4,173 SF, this residence boasts a gracious and airy layout that flows effortlessly from room to room. The split primary suite features an oversized closet and a spacious bath, creating a serene retreat. The outdoor space is designed for relaxation and entertainment, complete with a pool, in-ground spa, BBQ, and fireplace, making it perfect for year-round enjoyment. A wine cellar adds a touch of sophistication, while high-end finishes and superior craftsmanship are evident in every detail, creating a home of unparalleled quality. Located off the famed Murphy Bridle Path, you'll enjoy easy access to the best that Phoenix has to offer.
21844 N 79th Place
Scottsdale, AZ 85255
$2,100,000
4
Beds
2.5
Baths
3,474
SqFt
Status
Active
MLS #
6782928
Property Type
Single Family Residence
Price Type
--
Step into a world of refined elegance with this exquisite french countryside-inspired, single level home. In a quaint gated North Scottsdale neighborhood, the stunning residence offers a truly unique living experience with over a half million dollars in high-end finishes and carefully crafted details. The main living spaces are bathed in light with tall windows and multi-panel glass doors that seamlessly connect the indoors to the outdoors, creating an atmosphere inviting for relaxation and entertaining. The elegant design is complemented by leathered marble countertops in a luxurious chamà gold throughout, providing both beauty and functionality, while the Solstice Contempo limestone floors provide a sophisticated foundation for the space. At the heart of the home is a chef-inspired custom kitchen featuring top of the line Ilve and Miele Appliances, such as a 48 gas range surrounded by a custom venetian plaster hood. The whitewash-stone accent wall brings the perfect amount of texture and earthiness to the space. The cabinets are complete with a sleek, panel-front refrigerator. From the moment you arrive, the private courtyard welcomes you with an air of elegance and charm. A beautifully hand-carved fountain serves as the focal point, creating a serene and inviting atmosphere. The meticulously designed space sets the tone for what awaits in the backyard. The backyard creates a relaxing ambience with picturesque sunset views, featuring a sparkling pool, travertine, lush green grass, fire features and a built in barbecue area. The extended covered patio creates the perfect area to relax at the end of the day or wake up with a hot cup of coffee or tea. This home is truly magical.
10803 W Dove Roost Road
Queen Creek, AZ 85144
$2,100,000
3
Beds
2.5
Baths
3,628
SqFt
Status
Active
MLS #
6778740
Property Type
Single Family Residence
Price Type
--
Welcome to your dream oasis located in the gated community of Santo Vallarto in Queen Creek! This home truly has it all! A single-story home with a split floor plan, 3 spacious bedrooms plus a flex room, 2.5 bathrooms, separate formal dining, and an office/den! Enter the home through a beautiful, gated courtyard with a welcoming water feature. Step inside the home through a custom iron door to a beautiful open concept living area. Living room includes a built-in media wall with an electric fireplace. A built-in bar counter space with a sink and wine fridge transitions over to the kitchen that includes an island and eat in kitchen. . The spacious master bedroom has private access to the pool/backyard, huge walk-in closet, separate tub and walk in shower, and double sinks. Enjoy the San Tan Mountain views from your backyard that include an electric heated pool, water feature, hot tub, outdoor kitchen with island and ramada. The artificial turf and lush landscaping are inviting! Relax around the gas firepit or under the extended covered patios. The custom 80 ft length RV garage is complete with spray foam insulation and separate heat pump for AC cooling and heat option. The RV garage also has rear doors, polished flooring, car lift, RV and welding plugs. This custom home has many more features you must see!
11402 E Desert Troon Lane
Scottsdale, AZ 85255
$2,100,000
3
Beds
3.5
Baths
4,004
SqFt
Status
Active Under Contract
MLS #
6753600
Property Type
Single Family Residence
Price Type
--
Enjoy breathtaking and unobstructed views of the majestic Troon Mountain, complemented by beautiful vistas of boulder formations and stately saguaros, all from the privacy of this stunning home situated on a premium, elevated corner lot. This tastefully modernized Southwest retreat is a single-level gem with no interior steps, nestled within the prestigious, guard-gated enclave of Boulder Pass at Troon Village. As you step inside, notice the thoughtful artistry and craftsmanship that permeate every corner of this exceptional residence.The heart of this home is the meticulously remodeled kitchen, a true culinary masterpiece where form meets function. Custom-built alder wood cabinetry adorned with glass fronts and unique stainless steel designs offer ample storage options, complemented by a reverse osmosis system, dual Wolf wall ovens, a separate Wolf steam oven, a Wolf gas cooktop, and a Subzero refrigerator. The mosaic glass tile backsplash adds a layer of elegance, enhancing the kitchen's visual appeal. Gaze upon views of Troon Mountain as the kitchen flows seamlessly into the breakfast nook and family room areas, all of which share an authentic, meticulous crafted latilla and beamed ceiling that exudes Southwestern charm. Adjacent to this inviting space, a well-appointed wet bar features Paperstone counters, bar seating, a beverage fridge, and a wine storage area with a custom iron decorative door. Travertine and walnut wood flooring sweep through the home, adding warmth and sophistication. As you enter the home, the formal living room offers a captivating view of the serene back patio, boulders and fountain, while the front entryway and dining room boast exquisite latilla ceilings that glow from the light and views of beautiful sunsets that can be captured through their surrounding windows. This residence offers three luxurious bedrooms, including a primary suite that boasts a spacious sitting area with direct patio access. The primary bath is a spa-like retreat with travertine and granite finishes, dual vanities, a separate shower, and a sumptuous soaking tub. Two additional bedrooms, one ensuite with a walk-in closet and exterior access to the charming entry courtyard, provide comfort and privacy for family and guests. The dedicated office is adorned with double entry doors and offers a refined workspace with peaceful views of the front courtyard, while the laundry room, which is adjacent to the garage, includes a sink and additional refrigeration space. The entry courtyard is a welcoming oasis featuring a gas fire pit, twinkling north city light views, and an elegant paver hardscape. A half-circle drive ensures convenient parking for visitors. The backyard is a tranquil, private paradise designed for relaxation and entertainment, with multiple secluded areas, a boulder waterfall fountain and pond, a built-in barbecue with pull-up bar, a gas kiva fireplace, a commercial-grade misting system, and a sparkling pool area with unobstructed views of Troon Mountain, Tom's Thumb and the McDowell Mountains. Multiple covered spaces provide year-round comfort. Additional features include a three-car side-entry garage with epoxy floors, a freshly recoated flat roof in 2023, a water softener, and newly painted interiors.
10801 E Happy Valley Road Unit 17
Scottsdale, AZ 85255
$2,100,000
3
Beds
3.5
Baths
4,088
SqFt
Status
Active Under Contract
MLS #
6777045
Property Type
Single Family Residence
Price Type
--
Stunning sunsets, twinkling city lights, flowing green fairways, rugged mountain silhouettes and mature specimen cacti create a spectacular setting for this exceptional custom designed Southwest home. Timeless residence perched on a .71-acre lot overlooking the exclusive Troon Country Club's 17th fairway in the prestigious Glenn Moor community of Troon Village. First time ever available on the market and impeccably maintained by the original owners, offering over 4,000 square feet of single-level living, 3 bedrooms, a den, 4 baths and an oversize 3-car garage. Upon entering the private, gated courtyard, guests are welcomed by lush desert flora, vibrant flowering plants, and a beautifully tended rose garden, setting the tone for the elegance within. The great room, with its lofty 12-foot ceilings adorned with statement solid wood beams and gas fireplace is designed to impress. Thoughtfully crafted art niches and soft puck lighting set the perfect backdrop to showcase your treasured pieces, creating a warm yet sophisticated ambiance. Window wall allows seamless transitions from indoor to outdoor living. Meandering grand patio offers deep covered living areas for grand scale entertaining or intimate enjoyment, cozy fireplace, sprawling sundeck, wrapped around the sparkling pool, spa and waterfall. Alfresco dining at its finest. A culinary dream, the chef's kitchen is equipped with premium appliances, including a Lacanche stove with a warming oven, gas griddle, and burners; Sub-Zero; refrigerated drawers; addition wall ovens; island with second InSinkErator and sink; and walk-in pantry. Ideally located off the kitchen and nook, is an intimate patio with built-in grill and picturesque view of Troon Mountain. The social sunken bar (the ONLY 2 steps in the entire home) with seating provides dramatic mountain views, featuring a convenient set up with a bar refrigerator, sink, and ice machine to ensure you're ready to entertain at a moment's notice. Adjacent to the kitchen, a plentiful wine cooler and the curvilinear formal dining room with courtyard garden views is a perfect setting with ample space for gatherings while effortlessly connecting to the culinary heart of the home. The owner's wing is a tranquil retreat, with personal access to the serene grand patio, pool and spa. The primary bath exudes luxury featuring polished travertine finishes, a spacious walk-in shower, lounge tub, and a dedicated make-up vanity. The custom fitted walk-in closet with fitted with built-in drawers and hampers, includes an additional alcove that is ideal for an exercise room or additional storage, offering a refined blend of convenience and privacy. Everyone is sure to enjoy the dedicated Den featuring custom cabinetry, creating a flexible space for entertainment or relaxation and the two spacious ensuite guest rooms bringing comfort and enjoyment for visitors. Breathtaking city lights and sweeping panoramic views of Troon Mountain, the McDowell Mountain Range, and Pinnacle Peak, visible from both indoor and outdoor living spaces. This home's timeless elegance, quality craftsmanship, superior finishes, exceptional attention to detail and unparalleled views make it a rare gem. The location delivers an ideal backdrop for luxury living in a serene setting while being conveniently situated in the heart of all that Troon has to offer. Reside in the exclusive guard-gated community of Glenn Moor, at 2,500 feet above sea level, hosting the back nine holes of the private Troon Country Club Golf course, it is one of the most sought-after luxury communities in North Scottsdale. Glenn Moor at Troon Village is a guard-gated community with a 24-hour attendant on duty as well as a community clubhouse with a heated pool, bocce ball, tennis courts and nearby walking trails. *Solid block and insulated wall construction. * New Roof 2023 *Note all homes in Glenn Moor have the same street address, so the lot number is how you separate each individual home. This home is lot #17. Address is 10801 E Happy Valley Road, #17, Scottsdale, AZ 85262
30190 N 117th Drive
Peoria, AZ 85383
$2,100,000
4
Beds
3.5
Baths
4,200
SqFt
Status
Active
MLS #
6776136
Property Type
Single Family Residence
Price Type
--
Stunning Blackstone Beauty: The Ultimate in Luxury and Comfort: This remarkable Toll Brothers home offers everything you could want, with a location backing onto the scenic Blackstone Golf Course and ample space for all your family and hobbies! Thoughtfully upgraded and enhanced, this property includes a 4-foot extension off the original floorplan, expanding the dining room and primary bedroom suite for extra comfort and elegance. Chef's Dream Kitchen-A true showpiece of the home, is beautifully designed with Wolf appliances, a large center island, and custom cabinetry throughout. This space combines function and beauty, making it perfect for creating memorable meals and hosting family gatherings. Adjacent to the kitchen, an expanded dining area easily accommodates large gatherings while overlooking the warm and inviting Great Room. The Great Room, with its impressive, stacked stone pillars, exudes warmth and comfort. Cozy up by the gas fireplace or step into the adjacent wine room, perfect for hosting additional guests in style. The thoughtfully designed his & hers office, complete with custom cabinetry and enhanced lighting, offers an ideal work-from-home environment. Luxurious Primary Suite - The split floor plan provides a private retreat in the primary suite, which features automated Hunter Douglas blackout blinds and serene views of the backyard. The spacious ensuite bathroom includes three separate vanities for optimal convenience and a large walk-in shower. The walk-in closet boasts custom cabinetry designed for maximum organization and storage. Ideal Guest/Teen Wing & Multi-Generational Guest Quarters includes a den or study space, two sizable guest bedrooms, and a 517-square-foot casita with a separate entrance. Perfect for multi-generational living, this attached guest suite features its own living area, kitchen, steam shower, dual sinks, a king-sized bedroom with a walk-in closet, and a dedicated washer and dryer. Car enthusiasts will love the 4-car tandem garage, equipped with a Whole House water system by H20 Concepts and custom cabinetry. The additional golf cart or cyclist garage is air-conditioned for added convenience, thanks to a separate AC split system. With over $150,000 in outdoor upgrades, the backyard is designed for exceptional entertainment. Enjoy a custom pool with a fire wall, water features, mood lighting, and a pergola-covered BBQ area with plenty of guest seating. Additional highlights include a separate fire pit seating area, travertine stone flooring, and lush artificial turf, all designed to highlight the stunning views of Blackstone Golf Course. The side yard offers a private spa sanctuary, designed as a serene Zen retreat complete with therapeutic jets for ultimate relaxation. Advanced Home Automation - Manage every aspect of this home effortlessly with the Crestron Home Automation System, accessible from your phone or wall-mounted screens. Control the entire home, from temperature and exterior lighting to home security. Easily dim the lights or turn off the TV from the convenience of your phone as you settle in for the night. To ensure you get the most out of the system, the seller will provide a 1-2-hour introductory session with a tech expert. Experience the beauty and luxury of this exceptional Blackstone home in person!
3943 E Laurel Street
Mesa, AZ 85215
$2,100,000
6
Beds
5
Baths
5,535
SqFt
Status
Active
MLS #
6779025
Property Type
Single Family Residence
Price Type
--
Welcome home to your elegant retreat in Spyglass Estates. This fully updated residence features 6 bedrooms and 5 bathrooms, with beautiful hardwood floors and high-end carpeting throughout. The Chef's kitchen includes a walk-in butler's pantry and offers seamless access to outdoor living. The main level hosts a private primary suite, a second bedroom, large den, and fully equipped guest quarters with a separate entrance. Upstairs, you'll find three additional bedrooms, while the lower level includes a versatile bonus room and a cozy family room ideal for gatherings. Set on over an acre, the outdoor space features a resort-style pool and spa, green space with Citrus trees, along with 5 garage spaces and a sport court. This home combines luxury and practicality.
8320 E Appaloosa Trail
Scottsdale, AZ 85258
$2,100,000
4
Beds
3.5
Baths
3,415
SqFt
Status
Active
MLS #
6765538
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home! This stunning, newly remodeled 4-bedroom, 3.5-bathroom plus office offers modern elegance and thoughtful design throughout. Perfect for both entertaining and everyday living, the open-concept layout features spacious living areas, high ceilings, and designer finishes. The gourmet chef's kitchen features sleek countertops, stainless steel appliances, large island, seamlessly flowing into the dining room with a two-way fireplace. The private office provides a quiet space to work or study, and the luxurious primary suite offers a tranquil retreat with a spa-like bathroom and large walk-in closet. Large lot with resort style backyard including a sparkling play pool, sport court, extended patio and an additional ramada. Also includes a RV gate with gated parking perfect for storing recreational vehicles. Located in the sought-after neighborhood McCormick Ranch, 3 C's school district and conveniently located to the best dining and shopping!
38749 N 104th Way
Scottsdale, AZ 85262
$2,100,000
3
Beds
3.5
Baths
2,544
SqFt
Status
Active
MLS #
6703948
Property Type
Single Family Residence
Price Type
--
Full Golf Membership available. One of the very few DETACHED Haciendas in the Hacienda Village at Desert Mountain and comes with an extra exterior parking space. This charming home offers a wonderful courtyard entry with fireplace and lush vegetation, the functional great room floor plan has two suites in the main house and a separate Casita. The kitchen has dual Viking ovens, Viking Range and Viking refrigerator, microwave and nice sized island that opens up to the great room - ideal for entertaining. The owner's suite has his and her closets, soaking tub and fireplace. The Hacienda Village has its' own pool, spa, Ramada area with fireplace and exercise room. A wonderful lock and leave home with low maintenance.