Case-Shiller: Home Price Growth Slows in May

According to the S&P Case-Shiller 20-City Home Price Index, home price growth in May dropped to a seasonally adjusted annual rate of 5.20 percent as compared to April’s reading of 5.40 percent. Analysts said that low mortgage rates continue to support housing markets, but also noted that affordability due to rising home prices is sidelining some would-be buyers. High demand for homes coupled with slim supplies of available homes have driven prices up for months; analysts said that “tentative signs” of slower gains in home prices were seen.

New Home Sales Hit Highest Level Since 2008

David M. Blitzer, Chairman of S&P Dow Jones Indices, cited high home prices and sales of previously-owned homes as contributing factors to a healthy housing sector. Slower home price growth in high priced metro areas may indicate that home prices are topping out in cities including Los Angeles, San Francisco and Seattle. With home prices out of reach in high demand metros, it’s likely that rampant home price growth seen in recent years will have to slow in spite of pronounced shortages of homes and high demand in many areas.

Building more homes is the only way to combat outsized competition for homes and astronomical home prices. According to the Commerce Department, June sales of new homes jumped to 592,000 as compared to an expected reading of 562,000 and May’s reading of 572,000 new homes sold on a seasonally adjusted annual basis. June sales of new homes were at their highest level since February 2008.

Rising Rents Increase Demand for Homes

The national average price for a new home rose to $306,700 in June, while the supply of available homes sank to 4.90 percent. Real estate pros typically consider a six-month supply of available homes a typical reading. 574,000 new homes were sold in the second quarter of 2016, which was 10 percent higher than the reading of 524,000 new homes sold in the first quarter of 2016.

A report on rental vacancies is due out on Thursday. Rapidly rising rents have recently contributed to higher numbers of first-time buyers looking to buy homes and could continue to strengthen demand for available homes.

Listing types.

For Sale

For Rent

Land

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Distressed

Open House

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Price MaxAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Location Search Nearby

Lot SizeAny1+ Acres2+ Acres3+ Acres4+ Acres5+ Acres6+ Acres7+ Acres8+ Acres9+ Acres10+ Acres20+ Acres30+ Acres40+ Acres50+ Acres

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Neighborhood

Address, MLS# or Keyword

View As: Thumbnails List

Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

8767 W Kimberly Way Peoria, AZ 85382

$509,900

2 Beds

2 Baths

2,167 SqFt

Status Active

MLS # 6659164

Property Type Single Family Residence

Price Type --

A genuinely comfortable place to call home... Walk in and see a plethora of updates and designer finishes: the kitchen and appliances, the primary bath with zero entry shower, the inside paint, the outside paint, the AC - the list goes on and on. Vaulted ceilings throughout and a bonus art studio/gardener's shop/sun room too! If you're looking for that ''just right'' home in a proud, close-knit, and active (but very quiet) golf community, then look no more. You found us. Come see. Price reduced. Seller is motivated.

View Property

14810 W Antelope Drive Sun City West, AZ 85375

$509,900

3 Beds

2 Baths

2,018 SqFt

Status Active

MLS # 6661228

Property Type Single Family Residence

Price Type --

This beautiful Cromwell floor plan in the much sought after Active Adult 55+ retirement golf community of Sun City West offers 7 courses, 4 rec centers and a multitude of other activities. This is a total turn-key home offering open floor plan with vaulted ceilings, lots of natural light and porcelain wood plank flooring throughout. Remodeled kitchen with Quartz counters, tile backsplash, and new appliances. The primary bedroom has double door entry, totally updated bath with dual sink vanity, Quartz counters, glass shower with tile surround & separate tub. Guest bath also has similar updates. Spacious a ¼ acre private lot with no neighbor directly behind, and updates that include, HVAC and water heater, all flooring, kitchen, both baths, some new windows, lighting and plumbing fixtures.

View Property

910 Timber Hollow Road Show Low, AZ 85901

$509,900

3 Beds

2 Baths

1,910 SqFt

Status Active

MLS # 6662070

Property Type Single Family Residence

Price Type --

This beautiful, updated Ranch Style home sits on fenced 1.04 acre and offers 3 bedrooms, bonus room and 2 full baths. Vaulted ceiling in Great room and Master Suite with knotty pine tongue & groove ceiling in the Great Rm. Forced air heat plus pellet stove in great room. Interior and exterior freshly painted. New flooring and baseboards. Kitchen features stainless steel appliances, island and plenty of countertop space. Plenty of storage space with outdoor storage sheds, 3 car garage plus storage/workshop space.

View Property

43301 W Caven Drive Maricopa, AZ 85138

$509,900

4 Beds

2.5 Baths

2,909 SqFt

Status Active

MLS # 6668662

Property Type Single Family Residence

Price Type --

Meticulously maintained Hacienda 2x6 construction. 4 bedrooms + Den, 3 car garage, pool/waterfall, large corner lot w/Citrus trees. Tile flooring, Staggered Kitchen Cabinets with Crown Molding vaulted Ceilings. Very spacious single level home at 2909 sf. This split floor plan with an H configuration features 3 secondary bedrooms at the front of the home then a full bath and a kitchen open to the family room with an exit access to the patio & pool. On the opposite side of the home this wing starts with the 3-car garage then a laundry room a half guest bath and the large Master suite with an exit access to the pool. The full bath features double sinks, separate tub & shower and a HUGE closet. The section dividing the two wings features a large Living Room with Formal Dining. See More.. (See Recently added Floor Plan). Living Room Picture Windows overlook the Backyard Pool Waterfall and Putting Green. All this on a 10,777 sf corner lot in a time when lot sizes are shrinking. The Den & Entry Way are adjacent to the Living Room/Formal Dining. This is one of the nicest sections in the beautiful Villages at Rancho El Dorado with all the great amenities that make this a fabulous Master Planned Community featuring: 2 Community pools 1 heated, Tennis, Pickleball, Basketball, Gym, Clubhouse, Lakes, Golf, Tot playgrounds, & Cable tv. Owner Upgrades 2019-2024: Laminate wood plank flooring in the FM Rm & Master. New Water Heater & Softener, Quartz Kitchen Countertops and Cab Handles, New Security front Screen door and Screen Door to Master, pool tile and pool cleaned, replaced Pool Pump, Pool multi color light, New Pool filters, Solar Pool Cover, New Putting Green & Plants, Wood Paneling at Kitchen Island & West Bath, Some Rooms Repainted. Recent Roof Inspection and Roof Tiles Reset. New Fan/Light Kit in MB.

View Property

2106 N Cold Springs Point Payson, AZ 85541

$509,900

3 Beds

2 Baths

2,091 SqFt

Status Active

MLS # 6673828

Property Type Single Family Residence

Price Type --

You're bound to fall for this charming single-level home, perfectly positioned against the backdrop of the National Forest! Situated in Payson Pines, it's a haven nestled amidst the serene beauty of the Tonto National Forest, offering stunning woodland views right in your own backyard. This thoughtfully designed home features a split floor plan with three bedrooms, two full bathrooms, a spacious living room, and dining area. The expansive open great-room boasts a cozy fireplace, ideal for unwinding after a long day. Indulge your culinary passions in the large open kitchen with seat up bar area. The master bedroom offer a large walk-in shower, double sinks, a separate toilet room, and a spacious closet. Additionally, the guest bathroom offers a tub/shower combination. Newer roof

View Property

825 W Samantha Way Phoenix, AZ 85041

$509,900

4 Beds

2 Baths

2,885 SqFt

Status Active

MLS # 6689412

Property Type Single Family Residence

Price Type --

Well maintained 4 bedroom, 2.5 bath, 3 car garage home in Dobbins Crossing. Home features large living area with gas fireplace, Eat in kitchen with built in breakfast nook,, granite counters, gas stove oven, pantry and refrigerator. Downstairs primary suite with separate tub and shower, walk in closet and dual sinks. Home has an upstairs game room with balcony. Views of South Mountain! Back yard is easy to maintain, with a swim spa. This a great home!

View Property

2911 E Glenhaven Drive Phoenix, AZ 85048

$509,900

3 Beds

3 Baths

1,955 SqFt

Status Active

MLS # 6697487

Property Type Single Family Residence

Price Type --

Welcome to your newly refreshed oasis! This house boasts a fresh interior paint and new carpeting throughout, creating a pristine canvas for you to make your own. All cabinets have been meticulously painted, adding a touch of modern elegance to every room. Stay cool and comfortable with a brand new A/C unit and enjoy the gentle breeze from newly installed ceiling fans. The bathrooms shine with new light fixtures and hardware, adding a touch of sophistication to your daily routine. Step into the heard of the home - a beautiful kitchen adorned with stainless steel appliances, perfect for culinary creations and entertaining guests. Don't miss out on this opportunity to own a home that's both stylish and move-in-ready!

View Property

14001 W Beverly Road Goodyear, AZ 85338

$509,790

3 Beds

2 Baths

1,658 SqFt

Status Active

MLS # 6699288

Property Type Single Family Residence

Price Type --

KING OF THE MOUNTAIN! NESTLED HIGH IN THE ESTRELLA FOOT HILLS, LOOK DOWN OVER THE CITY BELOW BY DAY, TWINKLING CITY LIGHTS BY NIGHT, 360 DEGREE VIEWS! NEW BUILD, ESTIMATED DECEMBER COMPLETION, 1,658 SQ FT, 3 BED / 2 BATH SINGLE LEVEL HOME ON AN ACRE+ LOT, NO HOA'S, BRING YOUR HORSES, TOYS & RVS!! THIS HOME HAS GREAT CURB APPEAL WITH A TILE ROOF, INSIDE YOU WILL FIND THE MOST CHARMING KITCHEN-GREAT ROOM FEATURING WALLS OF GLASS, MODERN WHITE SHAKER CABINETS, GRANITE OR QUARTZ COUNTERTOPS, A HUGE KITCHEN ISLAND & A LARGE PANTRY. 18X18 INCH CERAMIC TILE COVERS THE FLOORS EXCEPT FOR THE CARPET IN THE BEDROOMS. VAULTED CEILINGS, THE MASTER FEATURES AN OVERSIZED CLOSET ALONG WITH A QUARTZ TOPPED VANITY W DOUBLE SINKS & A CUSTOM TILE MASTER SHOWER. PHOTOS ARE FROM PRIOR HOMES & REFLECT UPGRADES THE BUILDER IS WAITING FOR MARICOPA COUNTY TO ISSUE THE BUILDING PERMITS FOR THE PROJECT TO START. THE EXPECTED RELEASE DATE IS EARLY JUNE 2024.

View Property

940 E Harrison Street Chandler, AZ 85225

$509,000

3 Beds

2 Baths

1,701 SqFt

Status Active

MLS # 6696479

Property Type Single Family Residence

Price Type --

At last! The home of your dreams on a tranquil cul-de-sac is awaiting new owners! A well-maintained front yard and luscious green surroundings, a 2-car garage, and a welcoming front porch are just the beginning. The charming interior boasts an inviting living room with a designer's palette, tall ceilings, and tile flooring. Continue onto the eat-in kitchen bathed in natural, recessed, and lovely light fixtures and showcases built-in appliances, a handy pantry, and wood cabinetry with crown molding. The carpeted den is ideal for a home office. Relax after a hard day's work in the sizable main retreat, highlighting a plush carpet, a private bathroom, and a walk-in closet. The large backyard has a covered patio and a hot tub, excellent for afternoon relaxation, plus the home gets exposed to all the benefits of a sunrise every morning since there is no tall structure on the east side of the house. Hurry! You don't want to miss this adorable abode!

View Property

31134 N 137th Avenue Peoria, AZ 85383

$509,000

3 Beds

2 Baths

1,573 SqFt

Status Active

MLS # 6704197

Property Type Single Family Residence

Price Type --

You will be living in Vistancia, voted the #1 Master Planned Community in Arizona by Ranking Arizona magazine for the last 10 years in a row. There is a paid for Solar system allowing you to have reduced utility bills throughout the year. Features is an open dining room and family room with built-in wine storage and cabinets. The kitchen has Wiley Brown Beech cabinets with staggered uppers, and a center island workstation with eating bar, a large pantry, and generous amount of recessed lighting, granite kitchen countertops, black gas range, dishwasher & microwave and finished off with a stainless-steel refrigerator. A separate work spade is included. In the owner's suite an oversized oval tub, separate shower, and walk-in closet with extra shelving. Energy saving features (see more) include low E dual glazed windows and doors and a programmable thermostat. Community Amenities include Public Championship Golf Course, miles of hiking trails ,3 Community Pools with Water Slides, Public Parks, Basketball Gymnasium, tennis and pickle ball courts.

View Property

7559 W Cinnabar Avenue Peoria, AZ 85345

$509,000

4 Beds

2.5 Baths

2,328 SqFt

Status Active

MLS # 6640008

Property Type Single Family Residence

Price Type --

Take a look at this incredible 4-bedroom home! Featuring a private pool, brand-new flooring, and gleaming stainless steel appliances, it's truly impressive. The master bedroom steals the show with its spacious walk-in closet and double sinks. With plenty of room for everyone, this place is a dream!

View Property

11500 E Cochise Drive Scottsdale, AZ 85259

$509,000

2 Beds

2 Baths

1,306 SqFt

Status Active

MLS # 6706099

Property Type Townhouse

Price Type --

Elegant and relaxed living await you in this beautifully remodeled (2021) condo, located close to restaurants and shopping. Nestled between the 101 and Fountain Hills, this great lock and leave residence features granite kitchen counter tops, custom cabinetry and an open floorplan....perfect for entertaining with style! Exercise room and pool for your pleasure. Cozy up to the gas fireplace in winter months. Clean and move in ready!!!

View Property