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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13607 N 87th Street Scottsdale, AZ 85260

$2,000,000
4 Beds
3.5 Baths
4,491 SqFt
Status Active
MLS # 6784063
Property Type Single Family Residence
Price Type --
This beautifully remodeled home in the heart of Scottsdale offers an impeccable blend of style, comfort, and convenience. Boasting 4 spacious bedrooms, plus a den, and 3.5 bathrooms, this 4,491-square-foot residence provides ample room for both relaxation and entertainment. As you step inside, you're immediately greeted by an inviting atmosphere and a massive wall of glass overlooking the backyard. The heart of the home is the recently renovated kitchen, a true culinary enthusiast's dream. Featuring custom cabnetry, high-end Viking appliances, stunning leathered Taj Mahal Quartz countertops, a chic backsplash, and a spacious walk-in pantry This kitchen is perfect for hosting family dinners or entertaining guests. Each of the four bedrooms is designed to provide a personal sanctuary. Generously sized, they each come with a walk-in closet for added convenience. The expansive master suite offers a tranquil retreat, providing the ideal place to unwind at the end of a busy day. The adjoining master bathroom is a spa-like oasis with luxurious finishes, while the master wardrobe closet will exceed your expectations with built-in shelving and an abundance of storage space. The backyard is an entertainer's dream, offering an outdoor oasis where you can bask in the Arizona sun. With a heated pool, spa, and a custom water feature as the focal points. This outdoor space is perfect for enjoying warm Arizona evenings or hosting summer barbecues. Upgraded travertine and lush turf surround the pool area, creating a serene and low-maintenance landscape ideal for both relaxation and recreation. Located in a desirable Scottsdale neighborhood, this home offers the best of both worlds: peace and privacy, yet with all the conveniences of city living. Northsight Park is just a short stroll away, offering a perfect spot for morning jogs or leisurely weekend picnics. Major shopping centers, dining options, and essential services are all within a mile, making day-to-day living a breeze. The area also boasts a wide range of amenities and attractions, ensuring there's always something to do nearby. With its spacious, thoughtfully designed interior, exquisite renovations, and prime location, this home is more than just a place to live, It's a lifestyle. Whether you're raising a family, working from home, or simply seeking a beautiful, high-end space to call your own, this Scottsdale gem checks every box. Don't miss the opportunity to make this extraordinary property your forever home.

2355 W Shinnecock Court Phoenix, AZ 85086

$2,000,000
5 Beds
4.5 Baths
4,561 SqFt
Status Active Under Contract
MLS # 6765272
Property Type Single Family Residence
Price Type --
Election is Over, Sock Market/Bitcoin are at All Time Highs and our Seller is open to owner carry. Inquire Immediately. Nestled on the most coveted lot within Anthem Golf & Country Club, 2355 W Shinnecock Ct offers an extraordinary opportunity to own a piece of paradise. This property stands alone in its unmatched privacy, surrounded by breathtaking views and serene natural beauty. It's more than just a home; it's a rare and exclusive offering for those who appreciate the finer things in life. Whether you've admired it from afar or are seeing it for the first time, this is a once-in-a-lifetime chance to experience the pinnacle of luxury living in Anthem. Equiped with two new HVAC units, paid Solar which also heats your pool. Massive savin

9490 E Trailside View Scottsdale, AZ 85255

$2,000,000
5 Beds
3 Baths
3,560 SqFt
Status Active
MLS # 6773638
Property Type Single Family Residence
Price Type --
Introducing an exquisite new luxury real estate listing in the heart of DC Ranch, Scottsdale, masterfully designed by the renowned London Pierce Design. This stunning residence embodies sophistication and elegance, offering an unparalleled living experience. The home features five spacious bedrooms and three full bathrooms, catering to all your family's needs. The gourmet kitchen is a chef's dream, boasting a custom double marble island and table, two dishwashers, a marble backsplash, a custom marble bar, an induction oven, and a large double refrigerator. The living spaces are adorned with light beach-colored real wood floors and custom lighting with LED features on the island and cabinets. The custom glass and LED light staircase is a striking centerpiece. The living spaces are adorned with light beach-colored real wood floors and custom lighting with LED features on the island and cabinets. The custom glass and LED light staircase is a striking centerpiece, complemented by a crushed glass chandelier in the main living area. The main suite is a true retreat, featuring a large ensuite bath with a full glass shower and tub enhanced with LED accents and marble design. The huge walk-in closet provides ample storage for all your wardrobe needs. Throughout the home, you'll find custom wallpaper and paneling, as well as marbled countertops in the laundry room and all bathrooms, adding to the luxurious feel. Outdoor living is equally impressive with a courtyard perfect for intimate evenings, a walk balcony offering breathtaking mountain views, and a luxurious waterfall pool with new landscaping. A 16-foot sliding glass door opens up to the ultimate destination, seamlessly blending indoor and outdoor living. This residence is not just a home; it's a statement of luxury and modern design. Perfect for those who appreciate the finer things in life, this property epitomizes elegance and comfort in one of Scottsdale's most sought-after communities. Recent appraisal of 2,185,000 Brand new Furniture is also for sale co-Listing Agent is related to Owner.

2402 E Esplanade Lane Unit 602 Phoenix, AZ 85016

$2,000,000
2 Beds
3 Baths
3,542 SqFt
Status Active
MLS # 6652382
Property Type Apartment
Price Type --
Urban hi-rise living at its best! This updated spacious condo sits on the 6th floor w/ impressive views of Downtown city lights, spectacular sunsets & mountain vistas. The circular wall of glass (w/ motor shades) creates a dramatic light-filled space. Interior finishes include hardwood & stone floors, sleek cabinets, designer lighting & beautiful tilework. The split floorplan offers a spacious secondary bedroom suite, a very large & sophisticated second primary closet & a family room designed for gracious entertaining or view-soaked relaxation. The full-service building provides valet parking, concierge services, a stunning rooftop pool & spa, an impressive gym, a gorgeous club room & EV charging stations. Walking distance to Biltmore shopping and eateries and easy access to Downtown Phx

4828 E Clearwater Parkway Paradise Valley, AZ 85253

$2,000,000
4 Beds
3.5 Baths
3,915 SqFt
Status Active
MLS # 6711236
Property Type Single Family Residence
Price Type --
Opportunity awaits in the Guard-Gated Clearwater Hills community of Paradise Valley. This single-level gated home sits majestically on just under one acre of prime, buildable land, offering privacy and breathtaking panoramic views of Camelback, Phoenix Mountain Preserve, and Mummy Mountains. The spacious floor plan offers an effortless flow between living, dining, and entertaining areas. Spacious Primary Suite with his and her bathrooms, and expansive closet. Three other bedrooms plus a bonus/game room. Easy access to world-class golf courses, fine dining, upscale shopping, hiking trails, and cultural attractions. and minutes away from the vibrant amenities of Scottsdale and downtown Phoenix.

4601 E Desert Cove Avenue Phoenix, AZ 85028

$2,000,000
4 Beds
2.5 Baths
2,916 SqFt
Status Active
MLS # 6689750
Property Type Single Family Residence
Price Type --
SUPER RARE OPPORTUNITY! 5 SEPARATE GARAGES ON THE PROPERTY TOTALING 6168 sq. ft of garages. 3 garages are air conditioned & one comes with 2 lifts. There are 20 total garage spaces for this one-of-a-kind property. Can easily transform the 1620 sq. ft. garage into an awesome guest house.Multiple RV gates & RV Covered Parking. NO HOA. Owned Solar. 3 Horse stalls. 1.1 ACRES that is in one of the single best neighborhoods in all of Phoenix. Morningside Plus is an outstanding community that regularly has events with the neighbors.The walkability score is 11 out of 10 with Trader Joe's, Fry's Signature Store, Ohso, Starbucks & so much more right down the street. Conveniently located minutes from the 51 freeway, PV Mall Reinvention area & Trail 100 for amazing hiking. FAMILY COMPOUND POSSIBILITY

13017 N 61st Place Scottsdale, AZ 85254

$1,999,999
6 Beds
5 Baths
4,682 SqFt
Status Active
MLS # 6743125
Property Type Single Family Residence
Price Type --
Priced below its 2024 appraised value of $2.3M, this Scottsdale gem is a must-see for those seeking a blend of functionality, style, and opportunity. Ideal for multigenerational living or savvy investors, this property offers a unique array of separate spaces perfect for family, friends, or even rental potential. Tucked away in a serene cul-de-sac, this home seamlessly merges indoor and outdoor living. The main house, with its 3 bedrooms and 2 bathrooms spread across 2,328 square feet, features a stunning kitchen with a gas stove and distinctive cabinetry, offering ample storage and a touch of elegance. Attached to the main house is a versatile 604-square-foot studio. Plus, you'll find a charming 1-bedroom, 1-bathroom, 849-square-foot casita separate from the main house. This property also features a generous 1,750-square-foot loft-style guest quarters, complete with a full kitchen, bathroom, and laundry facilities, providing versatile living options. Additionally, a 368-square-foot workshop with a car lift and a 288-square-foot utility room offer ample storage and workspace for all your needs. Outdoor living is exceptional here, with a pebble-tech pool, a 416-square-foot gazebo, and a built-in outdoor fireplace, making it ideal for entertaining and relaxing with family and friends. The expansive 35,000-square-foot lotone of the largest in the neighborhoodboasts lush desert landscaping and abundant shade trees. Situated in a prime location, you're just a short walk from local parks and schools, and a quick drive from the vibrant shopping and dining experiences at Kierland, Scottsdale Quarter, Topgolf, and Spring Training venues.

8322 E Kael Street Mesa, AZ 85207

$1,999,999
5 Beds
4 Baths
5,180 SqFt
Status Active
MLS # 6776138
Property Type Single Family Residence
Price Type --
Fantastic basement home with an OVERSIZED RV GARAGE in Savona. The basement offers three bedrooms, two full bathrooms and a great media room. The main floor has a beautiful gourmet kitchen with stainless steel appliances, granite countertops, two islands, two sinks, wine cooler, pantry and perfect views to the entertainers back yard and mountains. The gorgeous backyard includes a pebble sheen pool & spa with a rock waterfall, built in water slide, fire pits and an outdoor shower. The oversized misted patio is large enough for those family gatherings. The view of the city lights and mountains from the observation deck are stunning. The RV garage is perfect for storing your RV or boat for those trips to the nearby lakes and hiking trails. Near fine dining, Las Sendas golf and 202 freeway.

3105 E Fruitvale Court Gilbert, AZ 85297

$1,999,999
5 Beds
4.5 Baths
5,626 SqFt
Status Active
MLS # 6776940
Property Type Single Family Residence
Price Type --
Welcome to Weston Ranch, an Exclusive Gated Community in Gilbert. This Stunning Property Sits on a Private Cul-De--Sac lot, Gated Courtyard Entry. Spacious 5 bd/4.5 ba Layout with a Split Floor Plan, a Versatile Bonus Room, & Separate Casita Featuring its Own Living Area, Kitchen, & Full Bath, Perfect for Guests or Multigenerational Living. An Open Kitchen, with a Large Island, Granite Counters, Double Ovens, & Gas Cooktop. Gas Fireplace in the Living Room,, Oversized Owner's Suite, Complete with a Sitting Area, Patio Exit. Step outside to your resort-style backyard: Pavered Walkways Lead you to a Pebble-Tec Pool with Waterfall and Jacuzzi, a Built-in BBQ, Outdoor Kitchen, Gas Firepit & Sport Court. RV Gate, 4 Car Garage w/ Built-In Cabinets, EV Charging, Owned Solar & New Roof 2024.

11334 E Troon Vista Drive Scottsdale, AZ 85255

$1,999,999
3 Beds
3.5 Baths
4,097 SqFt
Status Active
MLS # 6682066
Property Type Single Family Residence
Price Type --
Quintessential Arizona Living on an elevated mountainside lot nestled within the Sonoran Desert and surrounded by captivating panoramic Mountain Vistas. Located within the prestigious gated community of Troon Ridge Estates, this estate is situated on a 2-acre double lot to maintain privacy and jaw dropping VIEWS! The Santa Fe Style Estate features natural elements of boulder outcroppings, majestic Saguaros and a tranquil water feature in the front courtyard setting the tone for the serene ambiance of the home. The open floor plan expands 4100 sf of living space with large picture windows creating a canvas of outdoor desert landscape being an extension of the indoor atmosphere and design. A living piece of art, this home features exquisite one-of-a-kind hand-carved woodwork that........ embodies unparalleled craftsmanship and artistic flair. This home is a sanctuary of sophistication and authentic Southwestern design. The Terracotta Tile floors expand throughout the living space creating an authentic rustic appeal. The kitchen highlights the hand-carved wooden cabinets, a mosaic tile backsplash, double ovens, and an inviting eat-in area overlooking the great room living space. The living area is designed to maximize breathtaking views, with large windows framing Troon Mountain, Pinnacle Peak, and the McDowell Mountains. A grand beehive fireplace anchors the room adding warmth and charm, while a wet bar adorned with copper detailing provides an ideal spot for entertainment. This meticulously designed home features three-bedrooms all with ensuites, offering comfort and privacy, plus a generously sized office. The primary suite is a haven for relaxation with inviting fireplace, wrap-around private balcony, and spa-like bath. A backyard oasis providing awe-inspiring views, infinity-edge pool, expansive covered patios, an additional fireplace, and plenty of seating areas for relaxing or hosting guests. Enjoy proximity to Troon Country Club, renowned hiking trails such as Tom's Thumb, and the unmatched beauty of the desert! Plus, an array of nearby world-class golf courses, West World, shopping and dining destinations. *Included in the sale is Parcel #217-02-851 to protect your serene views and privacy*

6620 E Flat Iron Loop Gold Canyon, AZ 85118

$1,999,999
3 Beds
2.5 Baths
3,200 SqFt
Status Active
MLS # 6581879
Property Type Single Family Residence
Price Type --
Indulge in the epitome of luxury this Fall with your own private sanctuary nestled against the awe-inspiring Superstition Mountains. Awaken each day to uninterrupted, breathtaking vistas, and immerse yourself in a custom-crafted homesite designed to exceed your highest expectations. This isn't merely about constructing a dream home—it's an invitation to embrace a lifestyle defined by opulence, exclusivity, and peace. Meander through the prestigious, guard-gated community and let the serene ambiance envelop you. With homes reaching up to $2.5M, you'll enjoy an ideal blend of seclusion and accessibility. Yet, the true allure lies within the community itself. As a distinguished resident, you gain membership to the elite Superstition Mountain Club, featuring two private golf courses As a distinguished resident, you gain membership to the elite Superstition Mountain Club, featuring two private golf courses masterfully designed by Nicklaus. For those seeking relaxation, an outdoor pool and jacuzzi, and a state-of-the-art gym offering exercise classes, are at your service. Engage with your neighbors during the community's year-round events or enjoy a quiet evening at the exclusive clubhouse restaurant and cocktail lounge, indulging in exquisite cuisine and raising a toast to another impeccable day in paradise. Secure your own piece of heaven at the base of the majestic Superstition Mountains today and step into a world where every day is a masterpiece.

26827 N 68th Street Scottsdale, AZ 85266

$1,999,999
5 Beds
5 Baths
4,383 SqFt
Status Active
MLS # 6640376
Property Type Single Family Residence
Price Type --
CONTEMPORARY TENNIS COURT ESTATE~! Acre+ with guest house. A private paradise awaits you via a long curved driveway. Enjoy your lighted tennis court, sheltered amidst shade trees, mature cacti, flowering shrubs. This masterpiece is built to last with Integra Block, I-Beam & Post Tension Concrete. Dual living floorplan is connected by an upper level view skywalk & overlooks the heart shaped pool. Wood/tile/concrete flooring. All bedrooms have walk-in closets & upper deck access. Cute guest house with mini-kitchen & 3/4 bath. Office, Library wall, Media room, home gym w/shower. Soaring wood ceilings in great room Double Island kitchen w/sleek gray quartz counters, stainless appliances, tall wine cooler, W/I pantry. 2 story exterior metal fireplace. Ramada w/BBQ, pvt Garden. NO HOA FEES~!

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