Case-Shiller: Home Price Growth Expands to All Metro Areas

Case-Shiller: Home Price Growth Expands to All Metro AreasMarch home prices were again dominated by the Northwest with Portland, Oregon posting a year-over-year gain of 12.30 percent followed by Seattle, Washington’s year-over-year gain of 10.80 percent.

Denver, Colorado rounded out the top three cities with a year-over-year gain of 10.00 percent. San Francisco, California, which consistently posted double-digit gains in recent months slipped to a year-over-year gain of 8.50 percent. This may indicate that prices in high cost metro areas are nearing their peak.

S&P Dow Jones Chair David M Blitzer attributed outsized price gains to the shortest supply of available homes since the mid-1980s. Homes for sale account for only two percent of U.S. households. To put rapidly increasing home prices in context, the S&P Case-Shiller 20-City Home Price Index was 11.50 percent below its peak in March, 2006.

Case-Shiller’s 20-City Home Price Index posted a 5.40 percent gain year over year, which was equal to its year-over-year price gain in March 2015. Month-to month home prices gained 0.90 percent; analysts had estimated year-year growth of 5.10 percent and a month-to-month gain of 0.70 percent. All cities in the 20-City Housing Market Index posted gains in month-to-month and year-over-year readings.

Pending Home Sales Exceed Expectations

Pending home sales in April supported trends noted in Case-Shiller’s 20-City Home Price Index. Regional results for pending home sales in April rose by 1.20 percent in the Northeast while pending sales were unchanged in the Midwest. The South posted pending sales gain of 6.80 percent and the West recovered with an 11.40 percent rise in pending sales for April.

Based on April’s pending home sales readings, real estate pros expect a jump in closed sales in May. Home buyer demand remains resilient according to Lawrence Yun, chief economist for the National Association of Realtors. Mr. Yun also said that the key to continued expansion of home sales is providing buyers sufficient supplies of affordable homes. Builders may provide relief by increasing construction, but have cited shortages of labor and developed land as constraints on new construction. Active demand for high-end homes has also focused construction on higher priced homes.

Mortgage applications are also increasing, which indicates that more homes are being purchased by owner-occupant buyers than investors. Relatively low mortgage rates and waning investor interest could provide buyers relying on financing a leg-up in competing for available homes.

7817 W Bloomfield Road Peoria, AZ 85381

$496,900 - 3Br/3Ba -  for Sale in Windmill Lots 1 Through 154, Peoria
New
$496,900
3 Beds
2.5 Baths
2,312 SqFt
Status Active
MLS # 6694212
Property Type Single Family Residence
Price Type --
NO HOA DOWNSTAIRS MASTER BEDROOM POOL. Spacious layout, vaulted ceilings, and cozy wood-burning fireplace. Kitchen includes breakfast bar & eat-in dining room. The master bedroom's walk-in closet and luxurious bathroom, complete with a walk-in shower and tub. Loft with two more bedrooms and bathroom upstairs. The backyard oasis with a covered patio overlooking the pool is the perfect spot for relaxation or outdoor gatherings.

5415 W Novak Way Laveen, AZ 85339

$496,700
3 Beds
2 Baths
2,208 SqFt
Status Active
MLS # 6658821
Property Type Single Family Residence
Price Type --
Move in ready single story home with a play pool and a 3 car garage, these are all the items most people want in a home and this one has it all. This home has an open floor plan with an upgraded kitchen that has quartz counters and stainless steel appliances. The home has tile plank flooring through most all the home. There is a pebbletech play pool in the backyard that is like your own resort. Great family neighborhood with easy access to the freeway and shopping. This home is a must see.

18419 W Country Club Terrace Surprise, AZ 85387

$496,492
4 Beds
3 Baths
2,644 SqFt
Status Active
MLS # 6543892
Property Type Single Family Residence
Price Type --
Below Market Interest Rate Available! Move-in ready, new build home with 4 bedrooms, 3 full bathrooms, Loft, Study, & 3 car garage. Beautiful large home with first floor bedroom and full bath plus study. Spacious kitchen has large island, endless counter space, & walk-in pantry and features white cabinetry, quartz countertops, tile backsplash and stainless steel appliances. Backyard is landscaped and has an extended covered patio to enjoy this time of year outdoors! Tile throughout main living areas and carpet in bedrooms only. Lots of living space with upstairs loft. This home is located in North Copper Canyon that offers a community pool!! High Performance Home with smart technology, makes it so you can truly live in your element!!!!

34782 N Ashwood Drive San Tan Valley, AZ 85144

$496,390
3 Beds
2 Baths
2,000 SqFt
Status Active
MLS # 6688556
Property Type Single Family Residence
Price Type --
This is one of our most popular floorplans featuring 3 bedrooms, 2 bathrooms, and a flex room. Spacious interior design allows for ample entertaining space. This home is on a gorgeous corner homesite with no neighbor behind. Upgrades include a gourmet kitchen with stainless steel appliances and gas cooktop, white quartz countertops with brushed nickel hardware, white shaker cabinets and natural wood-look tile in all the right places.

20875 W Maiden Lane Buckeye, AZ 85396

$496,000
4 Beds
3 Baths
2,511 SqFt
Status Active
MLS # 6687488
Property Type Single Family Residence
Price Type --
Welcome to your dream Verrado home, perfectly situated amidst picturesque tree-lined streets, parks, pools, and a bustling community center. Be sure to ask about the ASSUMABLE 2.38% loan. This charming abode awaits you on a coveted green belt with an amazing view facing a park! Step inside to discover a culinary haven in the stunning kitchen, complete with granite countertops, an inviting tile backsplash. stainless steel appliances, a gas range, and well appointed cabinets with plenty of storage! The seamless open-concept layout flows effortlessly from the kitchen to the dining and living areas downstairs with 3 a panel slider to the patio! Convenience meets comfort with a downstairs bedroom and a full bathroom, providing versatile living options. Upstairs, a thoughtfully designed split floorplan awaits with an amazing master bedroom sanctuary. Indulge in the opulent ensuite bathroom showcasing a large walk-in shower with a built-in bench seat and rainfall shower for a spa-like retreat. Dual vanity sinks and a generously sized walk-in closet add to the allure of this tranquil haven. Adjacent to the primary suite, discover a spacious loft area, two additional bedrooms, and another full bathroom, offering ample space for family and extra living space. Others items that this home possesses include a natural gas stub outside for grilling or firepit, water softener and RO system, deep sink in garage and stainless deep sink in laundry. Also, items that can convey with the home include a natural gas grill, 2 refrigerators, 1 freezer, household commercial washing machine and gas dryer, and 2 x 55 inch and 1 x 60 inch Smart TVs with full motion wall mounts. Step outside to discover a charming porch overlooking a vast, grassy area, offering a perfect spot for relaxation or social gatherings. There is also extra parking in the back for residents and guests! This exquisite home in Verrado is just steps away from the new Heritage Community Center and School, where you can enjoy community perks like a pool, splash pad, and BBQ area. Embrace the vibrant lifestyle of Verrado with its close proximity to Heritage Elementary, Heritage Swim Park, nearby dog park, walking trails, many other parks and the majestic White Tank Mountains. Take advantage of the community's main street, featuring a variety of restaurants, a coffee shop, grocery stores, and a award winning community center. Enjoy recreational amenities including a golf course, top-rated schools, and the convenience of a new Costco nearby. With easy access to I-10, gas stations, and lodging, this highly desirable area in the West Valley promises an unparalleled lifestyle.

27448 W Wahalla Lane Buckeye, AZ 85396

$496,000
3 Beds
2.5 Baths
2,191 SqFt
Status Active
MLS # 6677525
Property Type Single Family Residence
Price Type --
Enjoy owning this adorable residence situated in Sun City Festival Community! Fall in love with the well-maintained interior featuring wood-look tile flooring, plush carpets, designer paint, a welcoming living room, and an open den ideal for work or play. Desirable great room with entertainment niches promotes an inviting atmosphere. Open-concept kitchen is a chef's dream, complete with recessed & pendant lighting, a walk-in pantry, staggered white cabinets with crown moulding, stainless steel appliances, quartz counters, and a prep island with a breakfast bar. Relaxation awaits in the main bedroom, offering an ensuite with dual sinks and a walk-in closet. Grab your favorite cool drink and unwind under the covered patio in the backyard. Seize the opportunity while it's still available!

22062 N 34th Lane Phoenix, AZ 85027

$496,000
4 Beds
2 Baths
1,925 SqFt
Status Active
MLS # 6681949
Property Type Single Family Residence
Price Type --
Gorgeous newly remodeled home (04/24) with new floors, baseboard, fans, lights, paint & much more! 3 car garage with storage, soft water, doggie doors & door to outside. Stainless steel appliances convey, including built-in microwave. New, single basin deep sink in kitchen. Both bathrooms have dual sinks. Mature trees w/ great landscaping. Great quiet neighborhood yet close to freeways and major shopping. This is a must see and priced to move.

2157 W San Tan Hills Drive San Tan Valley, AZ 85144

$495,995 - 4Br/2Ba -  for Sale in Skyline Ranch 1, San Tan Valley
Open House
$495,995
4 Beds
2 Baths
1,700 SqFt
Status Active
MLS # 6686424
Property Type Single Family Residence
Price Type --
Welcome to Skyline Ranch! This 4 bed, 2 bath 2 car temp controlled garage with built-in cabinets, cupboards, countertop work space and utility sink has much to offer. Faux wood tile throughout, Open and airy. One of the most private, park-like backyards in the area. 12' lush green hedges surround the backyard. Kidney shaped pool with waterfall, Tuff shed w/electricity. Several seating areas for lounging and entertaining. Garden area & raised bed. Conveniently located w/easy access to local attractions & amenities: shopping and dining at Queen Creek Marketplace, outdoor recreation at San Tan Regional Park, fresh produce at Schnepf Farms and popular sites such as Queen Creek Olive Mill. List of features in documents tab.

7439 E Sundance Trail Carefree, AZ 85377

$495,900
2 Beds
2 Baths
1,519 SqFt
Status Active
MLS # 6683874
Property Type Townhouse
Price Type --
ALERT YOUR INVESTORS! A 1519 sq. ft., 2 bedrm/2bathrm unit #504 has a wonderful view patio facing NE from the living room & master bedroom. Built in 1980, this home has a separate kitchen, a great room including the dining room with a kiva fireplace & opens to the NE facing patio. The oversized master bedrm. & bathrm. are ensuite & share the view patio wrapped around from the family room. There is a separate bedrm. & full bathroom for guests. The 2 car garage finishes the townhome. Approximately 17 steps from the garage level to the front door & unit is all on one level once inside.

415 E Fordham Drive Tempe, AZ 85283

$495,900
3 Beds
2 Baths
1,267 SqFt
Status Active
MLS # 6685959
Property Type Single Family Residence
Price Type --
WHAT A GREAT LOCATION AND PROPERTY WITHIN WALKING DISTANCE TO KIWANIS PARK. CHARM FROM CURBSIDE TO BACKYARD THAT BOASTS A SPARKLING PEBBLE-TECH POOL, LARGE COVERED PATIO, GARDEN, AND PLENTY OF GRASS AND MATURE TREES. INSIDE W/ TILE PLANK FLOORING EVERYWHERE EXCEPT BEDROOMS. NEUTRAL PAINT, UPDATED BATHS AND KITCHEN WITH SLAB GRANITE COUNTERS. LIVING ROOM W/ COZY GAS FIREPLACE. DUAL PANE WINDOWS T/O. ALL THIS AND A 2021 NEW ROOF AND HVAC SYSTEM! IT DOESN'T GET ANY BETTER THAN THIS.

11022 N Indigo Drive Fountain Hills, AZ 85268

$495,500
3 Beds
2.5 Baths
1,576 SqFt
Status Active
MLS # 6591622
Property Type Townhouse
Price Type --
Absolutely charming, super gorgeous, modern two-level 3 BR, 2.5 BA, 1-car garage. In superb, gated community, 1,600 SF luxury townhome w/premium finishes, great layout, next to & views of pool, mountains & desert. Impeccable exterior & roof, impeccable interior meticulously maintained. Feels large. Full master bed suite w/walk-in closet & balcony w/views. BRAND NEW HVAC (Aug /23). Nestled near state walking canyon trails. Wonderful landscaped walkway to front door, wood-like tiled floors, carpet in bedrooms, eat-in kitchen w/premium cabinets, pantry, granite countertops, kitchen island, stainless steel appliances, breakfast bar & full-size washer/dryer. Also features a large both totally private covered and uncovered patio. Privacy!

39550 N Kaden Lane San Tan Valley, AZ 85140

$495,433
2 Beds
2.5 Baths
1,811 SqFt
Status Active
MLS # 6688925
Property Type Single Family Residence
Price Type --
Up to 2% of total purchase price towards closing costs incentive offer. Additional eligibility and limited time restrictions apply. MLS#6688925 April/May Completion! In the vibrant 55+ community, Ovation at Meridian, discover the Sedona—a breathtaking single-story residence boasting 2 bedrooms, a flexible room, and expansive outdoor space. The foyer unveils a versatile flex room and a second suite. Transform the flex room into a formal dining area for entertaining. Enjoy seamless hosting in the open great room and kitchen. The private owner's suite offers an ensuite bath with double sinks, a walk-in shower, and a spacious walk-in closet. Structural options include: paver front porch, 12' x 8' sliding glass door, garage service door, alternate shower at owner's bath, soft water loop, gas line for future outdoor kitchen and complete reverse osmosis system.