S&P Case-Shiller: Home Prices Gain in August

Home prices gained in August per the 20-City S&P Case-Shiller Home Price Index. Analysts said that home values continue to expand in spite of challenges including low inventories of available homes and strict mortgage qualification requirements.

National Home Price Index Near 2006 Peak

According to the national Case-Shiller Home Price Index, August home prices are 0.10 percent below their 2006 peak and all metro areas in the 20-City Home Price Index posted gains. Top gains in the 20-City Home Price Index were posted by Portland, Oregon with a year-over-year gain of 11.70 percent, Seattle, Washington home prices gained 11.40 percent and Denver, Colorado home prices gained 8.80 percent year-over-year.

All metro areas included in the 20-City Index posted year-over-year gains in excess of one percent. New York City had the lowest year-over-year price gain with a year-over-year reading of 1.70 percent in August. Washington, D.C. home prices rose 2.30 percent year-over-year. Home prices in the Cleveland, Ohio metro area increased by 2.90 percent year-over-year.

New Housing Bubble Unlikely

With home price gains close to peak prices seen before the housing bubble burst, concerns may arise over the potential for a new housing bubble to occur in coming months. Analysts say this is unlikely as home buyers are not taking out extreme levels of mortgage debt seen at the onset of the Great Recession. David M. Blitzer, chairman of the S&P Index Committee, said “There is no reason to fear another massive collapse is around the corner. The run-up to the financial crisis was marked with both rising home prices and rapid growth in mortgage debt.”

Possible Fed Rate Hike Won’t Cause Mortgage Rates to Explode

The Federal Open Market Committee of the Federal Reserve is expected to raise the Fed’s target federal funds rate in December. This action will lead to interest rate increases for consumer credit and mortgages, but not at levels that would make mortgage loans suddenly unaffordable. While gradual increases in federal interest rates would cause mortgage rates to rise over time, market conditions and related factors could potentially cause home prices to slow or even dip in some areas. Regional influences including employment and demand for homes are examples of factors contributing to home price growth or decline in specific areas.

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8214 E Kael Street Mesa, AZ 85207

$2,100,000
5 Beds
5 Baths
6,565 SqFt
Status Active
MLS # 6768451
Property Type Single Family Residence
Price Type --
Entertain with elegance or retreat from everything in this opulent one-of-a-kind custom home, priced BELOW APPRAISAL, with statuesque port cochere and brick paver horseshoe drive. Greet guests beneath a 40ft high circular foyer between sunlit travertine staircases. Prepare feasts in a huge gourmet kitchen with extensive granite countertops, dual ovens, dual gas cooktops, pot filler, walk-in pantry, and expansive breakfast bar with dedicated sink. Indulge family and friends with large home theater (14 recliner / 7.2 surround), large heated pool and spa, indoor and outdoor wet bars, full outdoor kitchen and bbq, sound speakers throughout, 3200 sq ft of covered patio, relaxing fountains, and a very large rooftop deck amidst mountains and city lights. Pamper yourself in a very spacious primary suite with dual walk-in closets, dual showers and jetted tub, dual vanities, and private walk-out pool and hot tub access. This 5 bed/5 bath + office with 2 addl ensuites boasts too many features to list. Dual garages, ample storage, newly painted, partial roof updates, newly installed pool heater and pump. It's super energy efficient and boasts fire suppression and safety features. Capture all this with the added bonus of amazing, quiet, exclusive and private gated community - just minutes from: Las Sendas Golf Club, Red Mountain Community College, and dozens of activities. This home features 5 bedrooms and 4 bathrooms upstairs surrounding a circular art gallery, sitting area, and office or den. The pool sparkles through the large back picture window, and the beautiful covered front patio and fountains beckon from the large front picture window. The 12 ft ceilings throughout the home are multi-tiered with coffered ceilings in the office and beautiful columns throughout. The home has four zone temperature control heating and AC with 3 gas fireplaces for ultimate comfort. Additional pool-adjacent storage rooms are perfect to convert to dedicated bathrooms for pool access, provided currently by one of the additional ensuite bathrooms. The rooftop deck boasts amazing sunsets and 360-degree wraparound mountain ranges and city lights featuring the Superstition Mountains and Red Mountain. It can accommodate large family meals, parties, or intimate star-gazing for a silent retreat or vacation. The surrounding area features dozens of golf courses, hiking, camping, horseback riding, boating, Saguaro Lake Marina, Lost Dutchman Park, Tonto National Forest, Salt River tubing, great shopping, restaurants, museums, culture, and more!

4639 E Mountain View Court Phoenix, AZ 85028

$2,100,000
4 Beds
3.5 Baths
3,563 SqFt
Status Active
MLS # 6750469
Property Type Single Family Residence
Price Type --
Experience the height of luxury in this stunning Arizona estate, perfectly positioned across from prestigious Paradise Valley. Step into a beautifully crafted home with rich wood floors and an open layout ideal for both grand events and cozy gatherings. The gourmet kitchen features premium Wolf appliances, including double ovens and a griddle, alongside a Subzero Refrigerator and Freezer. The elegant quartz island, white cabinetry, and spacious walk-in pantry create a chef's paradise. The dining room is elegant and open, and the home includes three generous bedrooms in one wing, including a guest suite with a private bath. primary suite, located in its own wing, features a sophisticated office and a convenient half bath. Additional versatile spaces include a second office and playroom. The well-appointed laundry room provides ample storage and a practical drop zone.Embrace the ultimate in Arizona luxury, where elegance, comfort, and prime location create your dream home. The sunlit great room offers panoramic views of Camelback Mountain through 10-foot sliding doors, leading to an exquisite outdoor space. Misting System on patio to cool you off in the summer heat! There's even room for a sports court or additional seating. Enjoy a patio with a bar, built-in barbecue, and refrigerator, overlooking a sparkling poolperfect for embracing Arizona's indoor-outdoor lifestyle. Close to golf courses and can walk to shopping and restaurants.

3317 E Mcdowell Road Mesa, AZ 85213

$2,100,000
5 Beds
5 Baths
5,670 SqFt
Status Active
MLS # 6771162
Property Type Single Family Residence
Price Type --
GREAT HOME! Ground Floor: 3,938 sq. ft. of livable space, including a master bedroom, an additional bedroom, a beautiful executive wood office, and a large laundry room. Basement: 1,746 sq. ft. of livable space, finished with a game room and theater room combination, plus three bedrooms (one with a private bath and two sharing a Jack & Jill bathroom). ATTACHED Office/Shop: 827 sq. ft. with 1/2 bath, which can be converted into a 4-car garage or a guest room with a 1-car garage. 5 bedrooms and 5 1/2 bathrooms in total. Energy Efficiency: Solar panels are owned, which means lower utility bills. The Spacious Master Bedroom & Bathroom features a Double-Sided Fireplace, A Sitting or Workout Area, 2 Large Walk-In closets a separate Jetted Tub and Seven Head Shower Combination Steam Room The Wood flooring is Acacia, a breed of rosewood. All cabinets Upstairs and downstairs are cherry stained knotty alder. Solid wood doors are Brazilian cedar. 8- foot doors upstairs and standard 6' 8 downstairs. Den is solid natural walnut with desk inlay of Bubinga and Hard Maple. Entry Medallion is Walnut, Cherry, Hard Maple, and Fiddleback Maple. Built-ins in the Master Bedroom, the Master Walk-in Closets, and the Family Room are Cherry. Fireplace Mantel is Solid Cherry. Stair Bannister and Baseboards and Bar are Solid Hickory. Also lots of storage space areas.

7932 E Dynamite Boulevard Scottsdale, AZ 85266

$2,100,000
5 Beds
5 Baths
5,631 SqFt
Status Active Under Contract
MLS # 6758673
Property Type Single Family Residence
Price Type --
Santa Barbara Spanish style architecture on almost 2 acres, zoned for horses w/ no HOA just minutes from Troon Golf Course. Incredible amenities including 30 ft. golf chip & putt, pool & spa, pickleball court w/ basketball hoop, outdoor chess, ping pong and more! Flowing river/pond at entrance of property. Separate casita with full living + kitchen + bedroom + full bath. Huge travertine patio w/ pergola (wired for misters) & built in grill. Remodeled throughout with custom cabinets/vanities, quartz counters, saltillo tile floors. Gated entrances on 2 sides. Garage has 2nd laundry & is potential future living space. Vault/safe room. Furnishings & decor included w/ full price offer. Shipping container for extra storage. Home can also be turnkey ABnB! Listing agent related to selle

9175 N 82 Street Scottsdale, AZ 85258

$2,100,000 - 4Br/4Ba -  for Sale in Heritage Terrace, Scottsdale
Open House
$2,100,000
4 Beds
3.5 Baths
3,333 SqFt
Status Active
MLS # 6762990
Property Type Single Family Residence
Price Type --
Voted #1 in the Heart of Scottsdale tour!!! This gorgeous, remodeled 4BD/3.5B home has soothing neutral tones & is versatile for so many decorating styles. Make it your own! A magnificent Chef's kitchen w/custom Thermal Foil cabinets, quartz countertops, Thermador SS appliances, incl sep full size freezer & fridge, 2 sinks, 2 dishwashers, 4 ovens, gas stovetop & much more! Beautiful white porcelain floors throughout w/lots of natural light & an abundance of windows! Exquisite 2 sided glass & marble FP, upgraded lighting, spacious BD's w/walk in closets & gorgeous updated baths! Primary BA w/walk-in shower & serene soaking tub. Private backyard w/sparkling pool, ramada & lg covered patio! Close to walking/biking paths, restaurants, golf & shopping! Come be amazed at this Stunning home!

7175 E Camelback Road Unit 902 Scottsdale, AZ 85251

$2,099,000
2 Beds
2.5 Baths
2,041 SqFt
Status Active
MLS # 6695128
Property Type Apartment
Price Type --
Step into luxury living at the exquisite Scottsdale Waterfront Residences, nestled in the vibrant heart of Scottsdale! Perched on the 9th floor, this residence boasts breathtaking views of Camelback complemented by an expansive balcony perfect for hosting gatherings and enjoying the Arizona sunshine. The kitchen is a culinary paradise, featuring top-of-the-line amenities such as a 100+ bottle wine refrigerator, Viking gas cooktop, Viking refrigerator, and a timeless tile backsplash, all seamlessly integrated into the open great room floor plan, ideal for both cooking and entertaining. Experience the epitome of convenience with the Waterfront's full-service building amenities, including 24-hour security, rooftop pool, fitness center and spa services. views, a sophisticated resident club room, a state-of-the-art fitness center, a versatile board room, a fully-equipped business center, and the added luxury of valet parking. Indulge in the ultimate urban lifestyle with the convenience of walking distance access to over 100 restaurants, world-class shopping destinations, and vibrant art galleries, ensuring every day is filled with excitement and possibility. Embrace the essence of the good life at Scottsdale Waterfront Residences, where luxury, convenience, and sophistication converge to offer a lifestyle beyond compare.

13272 E La Junta Road Scottsdale, AZ 85255

$2,098,337
3 Beds
3.5 Baths
4,034 SqFt
Status Active
MLS # 6776228
Property Type Single Family Residence
Price Type --
Just Completed! Stunning Rosewood luxury home at Storyrock in Scottsdale on 1/2+ acre N/S lot w/ open space on two sides + mountain views in gated Rosewood Canyon w/ miles of walking/hiking trails in McDowell Sonoran Preserve. Enjoy indoor/outdoor living w/ 16-foot wide Disappearing Wall of Glass + custom Andersen ''view windows.'' Stunning Kitchen w/ upgraded cabinetry & custom features, large Island, Quartzite countertops, 6-burner Wolf gas range w/ large convection oven + 2nd convection oven, microwave, 48'' Sub Zero + wine ref! Professionally-designed w/ gorgeous wood flooring, Ortal fireplace, custom iron/glass front door, Master Bath w/ Quartzite + oversized shower & tub. Ensuite Bedrooms, Den, dramatic Powder, ''Pool Bath,'' oversized 3-Car Garage w/ huge Storage Area & much more!

37268 N 110th Street Scottsdale, AZ 85262

$2,095,000
5 Beds
5 Baths
5,217 SqFt
Status Active
MLS # 6758268
Property Type Single Family Residence
Price Type --
This North Scottsdale desert gem is a stunning retreat with a resort-style backyard. Situated on nearly an acre in a tranquil gated community, this 5 bed, 5 bath home boasts over 5,200 square fee of sophisticated living space designed to capture breathtaking views. The open floor plan features expansive windows, a chef's kitchen and main-level primary suite complete with a spa-like bath and sitting area with stone fireplace. Step outside into your impressive backyard, featuring a sparkling heated pool and spa, sport court, putting green, and built-in kitchen area with grill. The home includes countless upgrades such as custom iron doors, LED lighting, Lutron shades, Control 4 smart home technology, and 4-car garage with cabinets and epoxy floors. Just minutes from top golf courses

15215 N Kierland Boulevard Unit 536 Scottsdale, AZ 85254

$2,095,000
2 Beds
2.5 Baths
2,086 SqFt
Status Active
MLS # 6786018
Property Type Apartment
Price Type --
Now Available For Sale.....Overlooking the Westin Kierland Golf Course, this highly coveted location in the Plaza Lofts Tower also captures INCREDIBLE views of City Lights, the McDowell Mountains, Sunrise and Sunsets. This truly is the ''SWEET SPOT'' of the market for those buyers wanting TWO Spacious Master Suites or TWO Bedrooms with a Study.. Both Master Suites have Spacious Sitting areas and En-suite bathrooms plus there is a separate Powder Room for Guests! Upgraded features throughout include gourmet kitchen, SubZero and Wolf Appliances, floor to ceiling expansive windows, ten foot ceilings, an oversized balcony and covered terrace make this the perfect loft for entertaining. Community amenities include concierge, a private fitness studio, two resort-style sundecks, heated lap pool, grilling stations, pet park, and exclusive VIP discounts at Kierland Commons, Scottsdale Quarter and the surrounding area. (Furnishings available by separate agreement.)

7175 E Camelback Road Unit 702 Scottsdale, AZ 85251

$2,095,000
2 Beds
2.5 Baths
2,041 SqFt
Status Active
MLS # 6696924
Property Type Apartment
Price Type --
Experience luxury living at Scottsdale Waterfront Residences in the vibrant heart of Scottsdale! This turn-key 7th-floor condo, with all furniture included, offers stunning Camelback Mountain views and an expansive balcony. The chef's kitchen boasts premium Viking appliances and a spacious granite island that flows effortlessly into the open great room, creating an ideal space for cooking and entertaining. The thoughtfully designed layout features split primary bedrooms, each with its own ensuite bathroom, offering privacy and comfort. A versatile den adds extra space for relaxation, work, or an additional sleeping area. Enjoy resort-style amenities, including 24-hour concierge, a rooftop pool, fitness center, spa services, a resident club room, valet parking, and more. Steps away from over 100 restaurants, world-class shopping, and art galleries, this is luxury living at its finest. Don't miss your chance to call Scottsdale Waterfront Residences home!

9441 N 129th Place Scottsdale, AZ 85259

$2,095,000
5 Beds
5.5 Baths
4,462 SqFt
Status Active
MLS # 6715590
Property Type Single Family Residence
Price Type --
Discover luxury in Scottsdale with this stunning home featuring 5 en suite bedrooms and an open floor plan perfect for modern living. The spacious layout seamlessly integrates the living, dining, and kitchen areas, making it ideal for both entertaining and relaxation. Enjoy serene hikes just minutes from your door, while the renowned Mayo Clinic and BASIS school are conveniently nearby. With upscale finishes, abundant natural light, and a prime location, this residence offers both comfort and convenience in one of Scottsdale's most sought-after neighborhoods.

8403 E Nightingale Star Drive Scottsdale, AZ 85266

$2,095,000
4 Beds
4.5 Baths
4,194 SqFt
Status Active
MLS # 6773929
Property Type Single Family Residence
Price Type --
Don't miss this incredible opportunity to add your personal touch to this stunning new build! The unique floor plan boasts a wealth of open and functional spaces designed for modern living. Experience the beauty of high ceilings and exposed beams that fill the home with natural light. Ideal for entertaining, this residence flows effortlessly between indoor and outdoor areas, complemented by a premium kitchen that features a high-end SKS appliance package, including a 48-inch dual-fuel pro range, an integrated column refrigerator/freezer, and a spacious center island with exquisite quartzite countertops. Each bedroom comes with its own ensuite bathroom, thoughtfully arranged in a contemporary split layout for added privacy. Seller incentives may include- window treatments, flooring in master bedroom switching out carpet, kids play area in backyard and more!

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