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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5671 N 208th Lane
Buckeye, AZ 85396
$1,274,574
3
Beds
3.5
Baths
3,381
SqFt
Status
Active
MLS #
6779831
Property Type
Single Family Residence
Price Type
--
This home offers a large private homesite with mountain views from your private backyard. There is a 16' sliding glass door at the family room to the outdoor living space. There is also a private interior courtyard bringing additional natural light into the home. The kitchen island is huge and perfect for entertaining or cooking for the holidays. The family room, kitchen and owner's retreat all have gorgeous tray ceilings. This home has it all. 2X6 CONSTRUCTION; EXTENSIVE NEW HOME WARRANTY; See you soon
895 W Tyson Street
Chandler, AZ 85225
$1,274,000
4
Beds
3
Baths
2,714
SqFt
Status
Active
MLS #
6736767
Property Type
Single Family Residence
Price Type
--
Step into a one-of-a-kind retreat, set on an expansive lot with lush, park-like real grass lawns in both the front and back, where privacy is paramount—no neighbors in sight, sound, or reach! This stunning 4-bedroom home, plus a Casita, offers endless space for relaxation and entertainment, with no HOA restrictions. Its worth the come see and further information is located in More and under the Document tab. The home boasts 19 feet of gorgeous Anderson windows across the front, flooding the interior with natural light, and a freshly painted exterior. Experience year-round comfort with a brand new 21 SEER AC and a heated spa and poolperfect for unwinding or hosting unforgettable gatherings. Looking for something truly unique? You'll love the stone chimneys with 3 gas fireplaces, including one in the kitchenyes, a cozy kitchen fireplace in Arizona! The open-concept layout is designed for entertaining, with a living room, modern glass railings, and original built-ins that add a vintage touch to the modern upgrades. Every bedroom features a walk-in closet with custom shelving and shoe racks, ensuring ample storage. The extended air-conditioned garage is perfect for large trucks, the garage doors are to the side, so the front is free and there's a separate workshop for your projects. The Casita provides a fun space for guests or family staycations and even some additional income. (not incl in sq ft) Outdoors, you'll discover a mini orchard with fruit trees, including pecan, orange, lemon, almond, pomegranate, and two green apple treesa true garden sanctuary. As the sun sets, the home takes on a magical ambiance, glowing with warmth and inviting energy. This property combines modern amenities like a full home water filtration system, tankless water heater, central air vacuum, and more, with mid-century charm, designed by Tibshraeny, to create a sophisticated yet comfortable living experience. Don't waitthis earthy, modernist home with timeless appeal is calling you. Come see for yourself why this Arizona oasis is the perfect home! -Extended length and Air Conditioned Garage -Extra large driveway with turn about - plus space for a boat or small RV - Garage cabinets - additional inside storage and shelving - New lighting, new garage door motor - Fridges 2 big ones and 2 little ones - 4 Mini splits - kitchen, garage, back bedroom, and Casita - Casita sq ft is not included in home size of 2714sqft - Home has central vac system - Large front patio to host - Original front door, solid from 1960 - Block home with South and east sides being insulation and radiant barrier then wood batten - 21 seer York AC and new air handler - Whole home water filtration - Tankless with hot water recirculation - New Gas meter - New 2phase pool pump with heater to spa as well - 4 electric boxes, main, workshop, casita, and one in garage - 2 Equator Washer/dryers - single unit for Casita and one for home - Casita conveys as shown - ready to rent - king bed, outside furniture, linens, micro, coffee pot, TV, as you see it - Casita has new tile flooring, shower door and water heater moved outside - with pad raised ready to build outward and upward - Home furniture would be included if its the right price, jukebox and art work do not convey - but outside patio furniture, inside beds, TV's, Dining room buffet - table chairs - all of it - Primary bedroom has Warmly floor heating - all new plumbing, white bathroom dresser all convey - 2 bathrooms are Toto and other is Swiss Madison - 4th bedrooom, wall bookcase is attached and stays - Family room steel glass desk can stay - or it can be removed - If removed you would have three fireplaces one in the kitchen, the TV family area and one in the front living room - Kitchen base cabinets are 1960's with honed Quartz on tops - the bases are one of a kind with strong pullouts and shelving - 19ft of Anderson windows in the front - Krasiva windows for the other 11 and 2 sliding doors, then 3 Jen Wen sliders to enclose the sun/gym room - Gym equipment can stay - All inside doors (11) have been replaced by Sarto doors and Frames imported from Italy and hardware from Germany - We would like one of the outside table and chairs, whichever, orange is our favourite - then there is the white and small black - Chop saw and spray painter unit they go - a gift from my hubby - But blowers, whippers, lawn mowers they all stay - Of the 6 shovels I will take one and one rake - hoses all stay - Taxes are very reasonable annual $2,100. for 17,322 sq ft lot - Water bills for large lots can be upward of $600.00 a month - This property has SRP flood irrigation, at $190. for 2024 year - APS was $353.00 for October and Chandler water for home is $75.00 a month - TMobile for high speed internet $55.00 monthly - Pool maintenance including chemicals is $126.00 a month for weekly service - Home is under one year coverage for you - However I do have contractor names if you want them - Questions just have your agent reach out to me 🙂
4210 E Desert Vis Trail
Cave Creek, AZ 85331
$1,269,999
4
Beds
3.5
Baths
3,558
SqFt
Status
Active
MLS #
6614047
Property Type
Single Family Residence
Price Type
--
Homesite 1-SpurCross-This home includes the multi-generational living with the great room and bedroom 2 suite. Complete with a kitchenette featuring an eat-in kitchen island and washer/dryer/fridge hook ups and walk in shower in lieu of tub/shower, it's a private apartment within the home. Other options included in this price are vaulted ceilings with beams, exterior stone, laundry room sink, 15' multi-slide doors in great room, and bbq gas preplumb. The upgraded finishes include hardwood flooring, quartz countertops, upgraded cabinets, and bathroom surrounds. Upgraded kitchen appliances include double ovens, built in microwave, chimney hood, and 36'' cooktop.
9197 W Molly Lane
Peoria, AZ 85383
$1,269,900
4
Beds
3
Baths
3,799
SqFt
Status
Active
MLS #
6776781
Property Type
Single Family Residence
Price Type
--
Located in the highly sought after community of Cibola Vista, this home offers resort-style living situated on your half an acre lot! With tall ceilings and large windows all throughout the house, you have beautiful natural sunlight to enjoy your private oasis. A true chef's kitchen with high-end appliances perfect for entertaining or home cooked meals. Out back you are greeted with a huge covered patio with outdoor speakers and surround sound, a sparkling pool with an oversized baja shelf for lounging and built-in outdoor kitchen perfect for summer parties and outdoor living! A 3 car garage with epoxy flooring for all of your toys. Whether you're envisioning a detached casita, an RV garage, or a private garden sanctuary, the possibilities are endless on this large lot with an RV gate!
11377 E Diamond Cholla Drive
Scottsdale, AZ 85255
$1,269,000
4
Beds
2
Baths
2,248
SqFt
Status
Active
MLS #
6743404
Property Type
Single Family Residence
Price Type
--
This beautifully maintained home, nestled in the desirable Troon neighborhood, offers a perfect blend of classic charm and modern convenience, set against the breathtaking backdrop of Troon Mountain. Upon entering, you'll immediately appreciate the expansive windows showcasing picturesque desert landscaping and gorgeous mountain views. The spacious split floorplan ensures privacy and comfort featuring three generously sized bedrooms plus a versatile den, ideal for a home office, playroom, or additional guest space. The open-concept living and dining spaces create an inviting atmosphere for both relaxing and entertaining, while the well-appointed kitchen boasts ample cabinetry, counter space, and modern SS appliances, making meal preparation a pleasure. The highly desirable south-facing yard offers a perfect low-maintenance spot for outdoor dining, gardening, or simply soaking in the stunning scenery. This home is ideally located near a variety of amenities, including world-class golf courses, hiking trails, and vibrant dining and shopping options. Troon is renowned for its natural beauty and outdoor recreational opportunities, ensuring you'll always have something to explore right in your backyard.
8619 E San Esteban Drive
Scottsdale, AZ 85258
$1,269,000
4
Beds
3
Baths
2,168
SqFt
Status
Active
MLS #
6738363
Property Type
Single Family Residence
Price Type
--
Welcome to this stunning 4 bedroom 3 bath home located in the prestigious McCormick Ranch community. It is a split floor plan and features a resort like backyard on an oversized lot, with a pool, hot tub, basketball court and incredible curb appeal! This home has been recently remodeled to perfection: new synthetic stucco, new electrical panel, new water heater, all new flooring and paint, and so much more. It sits in the highly sought after A+ Scottsdale school district and just steps from the greenbelt, dining, shopping and 101 freeway. This home has been meticulously maintained and is turnkey!
6919 E Ivyglen Street
Mesa, AZ 85207
$1,269,000
5
Beds
3.5
Baths
4,170
SqFt
Status
Active Under Contract
MLS #
6748564
Property Type
Single Family Residence
Price Type
--
MOTIVATED SELLER! The epitome of luxury living! Located in the prestigious gated community of Annecy, & one of the few custom homes within the community. Grand entryway, with elegant stone & wood flooring, custom ceiling trim & exceptional craftsmanship found throughout. Seamless blend of stone & hardwood floors, wide baseboards, arched doorways, & intricate crown moldings. The primary suite is a true spa-like retreat, complete with his & hers walk-in closets. Enjoy two sets of Jack & Jill bedrooms/bathrooms, a remarkable laundry room, & an entertainer's kitchen with new appliances that will leave you in awe. Stunning all-black tile swimming pool, complete with waterfall, slide, built-in hot tub, & stone pool decking. Outdoor kitchen features a large gas grill with granite countertops The property also offers a paver driveway, a massive extended length three-car garage with plenty of storage, and an RV gate. This home is truly a showstopper!
2909 N 81st Place
Scottsdale, AZ 85251
$1,265,000
4
Beds
2
Baths
2,217
SqFt
Status
Active
MLS #
6763705
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home in the vibrant heart of Scottsdale! This stunning, completely remodeled home combines modern luxury with beautiful design. From the new roof, AC, plumbing, electrical, flooring, cabinets, bathrooms, level 5 smooth drywall, etc., every detail has been meticulously crafted. Bright, open-concept living area perfect for entertaining. Stylish kitchen that features sleek quartz countertops, stainless steel appliances, walk-in pantry, and striking black cabinetry. Large open living room with a new gas fireplace, sets the perfect backdrop for gatherings with family and friends. There is a spacious master suite with a lavish en-suite bathroom featuring a soaking tub and separate shower. Step outside to discover your backyard paradise! With a large covered patio, sparkling pool, spa, and lush turf, it's the ideal space to soak up the Arizona sun or host unforgettable outdoor gatherings. The low-maintenance landscaping enhances the home's curb appeal while providing a tranquil escape. Nestled in a highly sought-after Scottsdale neighborhood, you're just moments from the vibrant Old Town, with its exceptional shopping, dining, and entertainment options. This home isn't just a property; it's a lifestyle waiting for you to embrace. Don't miss your chance to make this stunning oasis your own!
30804 N 120th Avenue
Peoria, AZ 85383
$1,265,000
5
Beds
4
Baths
3,354
SqFt
Status
Active
MLS #
6712297
Property Type
Single Family Residence
Price Type
--
Blackstone exclusive golf and CC community. Newest upgrades Including new paint in/out, flooring, pool pump, custom power window treatments and so much more. Super clean move in ready home! Kitchen overlooks great room with fireplace and boasts SS appliances, oversized island with prep sink an abundance of cabinets with roll outs, huge walk in pantry with second fridge. This split floor plan provides privacy to master in one corner, across the home a guest suite and separate hall leads to three addition bedrooms with media area. Large private lot with natural space behind, mtn views, pool, spa, extended paver patio, gas plumed for bbq, putting green to sharpen your game,. It's your chance to live the lifestyle you deserve in a spectacular home. provides privacy to company. Staycations are a thing of the past with this spacious resort style yard that includes extended covered paver patio, pool, spa, putting green complimented with mountain views. Freshly painted inside and out, new flooring, added enhancements make this home move in ready. It takes only moments to fall in love with this home. Area highlights include biking/walking paths, play areas, clubhouse/rec, tennis/pickleball, work out facility, golf, and more all within minutes of the 303 access. It's time to enjoy life!
3748 E Mare Court
Phoenix, AZ 85044
$1,264,000
6
Beds
3.5
Baths
4,801
SqFt
Status
Active
MLS #
6718151
Property Type
Single Family Residence
Price Type
--
Back on the market..Huge BASEMENT-HEATED Pool-Oversized Lot with dreamy mountain views and sunsets-4.5 Car Garage.Beautiful custom home situated in the Equestrian Estates.Step into your elegant home boasting 6 bedrooms, 3.5 baths, a chef kitchen with 2 workstations new granite, built-in appliances, double ovens and stainless appliances.Travertine floors in main living area. Wood flooring in bedrooms-lots of storage and walk in closets. Primary suite with sitting area and 2 closets and direct access to backyard.Full built out basement w/ bonus room, bar, 2 bedrooms and bath. Perfect place to send the kids or create a quiet cool place to retreat from the heat. Built in BBQ, view deck&storage shed.Beautiful neighborhood, Kyrene School District, horse back riding trails and more.
19950 W Cambridge Avenue
Buckeye, AZ 85396
$1,258,000
4
Beds
3.5
Baths
2,919
SqFt
Status
Active
MLS #
6736777
Property Type
Single Family Residence
Price Type
--
Beautiful 2919 sq ft 1 level Horse property with Casita and 1 acre with the best of both worlds, space and proximity to everything! Some of the features, include 20-foot ceiling entry in the great room, Shutters, 4 large bedrooms, 3.5 bath, including a master suite, walk-in closet master bath with en suite with a garden tub and skylight, french doors opening to the covered patio, custom tiled bathrooms, rustic wood beams, propane fireplace, chef's paradise kitchen with granite countertops and stainless-steel appliances, built-in wine fridge in the adjacent family Room, tile floors, office with additional outside access, three-car oversized garage/man cave with built-In cabinets, AC/Heat, Fan, 220-volt outlet for a charging station, and a not to forget a dream backyard with space!
25628 N Moon Blossum Lane
Phoenix, AZ 85083
$1,255,000
3
Beds
3.5
Baths
3,496
SqFt
Status
Active
MLS #
6765419
Property Type
Single Family Residence
Price Type
--
Desirable Stetson Hills home sitting on over 18,000 square feet of prime real estate, features a private courtyard, 4-car garage, paver driveway, a 10' utility gate, and owned solar system. The home has 3 bedrooms, 3.5 bathrooms, an office with custom built-in shelves, and a Liberty safe. The backyard is truly an oasis that backs up to a desert wash with mountain views. Entertain with the outdoor Viking kitchen, heated pebble tec pool & spa, charming grass area, extended covered patio with motorized awnings. The kitchen features a breakfast bar, Sub-Zero refrigerator, KitchenAid built-in microwave/oven, Thermador Professional Range with gas cook top & electric oven. The two AC units are 4 and 8 years old. Motorized sunscreens are in all the right places.