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

March 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.

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17410 W Fulton Street Goodyear, AZ 85338

New

$467,120

3 Beds

2.5 Baths

1,939 SqFt

Status Active

MLS # 6696778

Property Type Single Family Residence

Price Type --

Welcome to El Cidro, where luxury living meets vibrant outdoor spaces. Our home features a spacious three-car garage, ideal for storage and convenience. Inside, discover a deluxe gourmet kitchen and a laundry room with ample storage. Offering spacious backyards and a wonderful community park with picnic tables, a basketball court, and two playgrounds. Gather with neighbors for picnics, games, and leisurely strolls along scenic pathways. Experience the perfect blend of modern comforts and natural beauty in our welcoming community. Welcome home.

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792 E Cowboy Cove Trail San Tan Valley, AZ 85143

$467,000

4 Beds

2.5 Baths

2,879 SqFt

Status Active

MLS # 6660207

Property Type Single Family Residence

Price Type --

Discover this exquisite 4-bedroom, 2.5-bathroom energy-efficient residence nestled in the charming Johnson Ranch. As you step inside, a grand formal living room welcomes you with neutral paint, 2-inch blinds, and luxurious vinyl plank flooring. The family room seamlessly connects to the kitchen, creating an ideal space for entertaining. The gourmet kitchen is a highlight, featuring stainless steel appliances with wall ovens, granite counters, glass backsplash, a pantry, recessed lighting, ample white cabinets, and a two-tier island with a breakfast bar. Upstairs, all bedrooms and a generously-sized loft await. The main bedroom, accessible through double doors, boasts an ensuite with dual sinks and a walk-in closet. Enjoy the expansive backyard with a blend of artificial and natural gras

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6219 S Vista Point Drive Gold Canyon, AZ 85118

$467,000

3 Beds

2.5 Baths

1,763 SqFt

Status Active

MLS # 6627830

Property Type Single Family Residence

Price Type --

SPECTACULAR SUPERSTITION MOUNTAIN VIEWS to enjoy from the UPDATED & TRANQUIL BACKYARD that has pavers, retractable awning, MISTING SYSTEM, Pergola w/ceiling fan, built-in GAS BBQ GRILL with GRANITE counter top.! Perfect for entertaining or just relaxing and taking in the BREATHTAKING SUNSETS! Inside you will find a BEAUTIFUL UPDATED KITCHEN with GRANITE COUNTERS, breakfast bar, STAINLESS STEEL APPLIANCES & Pantry which overlooks the dining area. TOP OF THE LINE GE front load WASHER & DRYER, ALL NEW TOILETS, NEW WATER HEATER, NEWER HVAC, NEW VINYL WOOD LOOK FLOORING on steps and in the 3 upstairs bedrooms. Master has full bath & double sinks. Downstairs has tile floors & SPACIOUS GREAT ROOM! Extra storage under the steps. Located just steps away from the HEATED COMMUNITY POOL & SPA!! This is a GATED COMMUNITY located across from the popular GOLD CANYON GOLF COURSE which offers TWO 18 hole CHAMPIONSHIP GOLF COURSES, the SIDEWINDER AND DINOSAUR!!

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35795 W Cartegna Lane Maricopa, AZ 85138

Open House

$467,000

5 Beds

3 Baths

3,332 SqFt

Status Active

MLS # 6694840

Property Type Single Family Residence

Price Type --

Introducing a stunning property. An alluring neutral color paint scheme creates the perfect canvas to add your personal touch. The kitchen features a kitchen island for easy meal preparation and accent backsplash adds a chic touch to this space, while an abundant amount of cabinet storage provides practicality. The primary bedroom as a generous walk-in closet, reflecting all your storage needs. The primary bathroom, boasting double sinks and separate bathtub and shower contribute to its spa-like ambiance. Step outside for a private in-ground pool glistens under the sun. A fenced-in backyard ensures privacy for relaxation or friendly gatherings on the covered patio. The freshness of newly painted interiors adds touch for beauty. Make this house your life your vision of a comfortable.

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19139 W San Miguel Avenue Litchfield Park, AZ 85340

$466,990

4 Beds

2.5 Baths

1,943 SqFt

Status Active

MLS # 6673444

Property Type Single Family Residence

Price Type --

Surrounded by the White Tank Mountains and featuring a front porch perfect for taking in the breathtaking views. An open-concept kitchen includes ample countertop space, a center island, and an expansive walk-in pantry. The true heart of the home is the open-concept great room, amazing for your next movie or game night. Granite kitchen countertops, a powder room addition, soft water loop with drain, upgraded interior doors, and a tile kitchen backsplash are just some of the additional highlights. Located within the IronWing masterplan offers breathtaking mountain views and top-notch amenities. Our homeowners enjoy walking trails, a community park and a BBQ gathering area.

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3353 S 156th Avenue Goodyear, AZ 85338

$466,990

5 Beds

3 Baths

1,968 SqFt

Status Active

MLS # 6689589

Property Type Single Family Residence

Price Type --

Below Market Financing Available!!!!!!!! This single-story home design features everything families need to live in comfort with three secondary bedrooms, a study and a spacious owner's suite. The foyer leads into the open living area where the dining room, kitchen, Great Room and covered patio are all connected.

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16048 W El Cortez Place Surprise, AZ 85387

Open House

$466,990

4 Beds

2 Baths

2,139 SqFt

Status Active

MLS # 6594475

Property Type Single Family Residence

Price Type --

Brand new, energy-efficient home available NOW! This single-story features a split floorplan with the primary suite tucked away in the back of the home. Umber cabinets with white/grey granite countertops and multi-tone carpet in our Elemental package. Paloma Creek is now pre-selling in Surprise. There's fun for the whole family at the community clubhouse, pool, outdoor kitchen, and fitness center. Each energy-efficient home comes standard with features that allow your whole family to live better and breathe easier too.* Visit Paloma Creek today. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

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19617 W Cambridge Avenue Buckeye, AZ 85396

$466,638

4 Beds

3 Baths

2,070 SqFt

Status Active

MLS # 6675995

Property Type Single Family Residence

Price Type --

Discover this ranch-style Agate home, ready for quick move-in! Included features: a covered entry; a large flex room; a corner kitchen boasting an alternate layout, 42'' cabinets, stainless-steel appliances, an island and an adjacent dining room; an inspired great room; a serene primary suite showcasing a sizable walk-in closet and a private bath with double sinks; a central laundry; two secondary bedrooms; a full shared bath and a charming covered patio. This home also offers 7'' x 22'' stone tile flooring, cultured marble bath countertops, ceiling fan prewiring and additional windows in select rooms, coach lights, front yard landscaping and concrete pavers at the driveway and walkway.

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16036 N 11th Avenue Phoenix, AZ 85023

$466,000

4 Beds

3 Baths

2,270 SqFt

Status Active

MLS # 6616050

Property Type Single Family Residence

Price Type --

GREAT SPACE! This is an amazing opportunity for a 4 bedroom 3 bath with a community pool! This move in ready home is over 2,200 square feet! This is the home you have been dreaming of finding...

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634 N 48th Street Phoenix, AZ 85008

$466,000

5 Beds

2 Baths

1,715 SqFt

Status Active

MLS # 6655149

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the heart of Phoenix! Located only minutes from the freeway, this stunning 5-bedroom 2-bathroom home offers the perfect blend of modern luxury and desert charm. As you step inside, you'll be greeted by an open and spacious floor plan that's ideal for both comfortable family living and elegant entertaining. The living room boasts ample natural light creating a warm and inviting atmosphere. The gourmet kitchen is a chef's delight, featuring granite countertops, stainless steel appliances, and ample counter space. Enjoy the Arizona sunshine in your large backyard with endless potential. Perfect for family gatherings and outdoor relaxation. Spacious laundry room with washer and dryer included!

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3702 W Hearn Road Phoenix, AZ 85053

$466,000

4 Beds

2 Baths

1,551 SqFt

Status Active

MLS # 6659367

Property Type Single Family Residence

Price Type --

Your dream home is here! Don't miss this recently remodeled 4-bedroom property situated on a corner lot. Make yourself feel at home with the inviting interior showcasing wood-look tile floors, recessed lighting, and a bright living/dining area. Delightful great room is perfect for creating cherished memories. Lovely kitchen boasts white cabinetry, SS appliances, glossy granite counters, and a center island with a breakfast bar. Sizable main bedroom lets you relax, including a private bathroom and a walk-in closet. Chill in the charming backyard, offering a covered patio, sitting area, and a refreshing pool. What's not to like? Come and experience this gem's convenience and style for yourself!

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17798 W Running Deer Trail Surprise, AZ 85387

$465,995

4 Beds

3 Baths

2,040 SqFt

Status Active

MLS # 6658921

Property Type Single Family Residence

Price Type --

This single level Saphire is so inviting and well thought out. The home features 4 Beds, 3 Baths with a bonus den/teen room and a 3-car garage. The Sapphire floor plan welcomes guests with pavers and a covered entry. Off the foyer, you'll find two bedrooms and a full bath. Heading towards the great room you will find the fourth bedroom and den/teen room with a dedicated bath. The home features 9 ft ceilings, 8'6'' paneled interior doors and an extended entry which leads to an open layout kitchen featuring a large upgraded center island, 42-inch upper cabinets, gas SS oven range and a convenient dining area. The great room is nicely sized with a center-meet double sliding door giving the space a light and open feel gracefully leading to the covered patio. The split floor plan features an owner's suite with two walk-in closets and an attached bath. Located in the fantastic community of Desert Oasis features parks, playgrounds and a community pool. Close to the new Frys marketplace with convenient access to the Loop 303 and US-60, nearby Lake Pleasant, Surprise Stadium, Wildlife Zoo, Aquarium & Safari Park in the fast-growing NW Valley. This beautiful home is done right and has so much to offer!

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