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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30989 N 77th Way
Scottsdale, AZ 85266
$1,999,999
3
Beds
3.5
Baths
4,143
SqFt
Status
Active
MLS #
6713596
Property Type
Single Family Residence
Price Type
--
This stunning home spans over 4100 sq ft, offering ample space for luxury high desert living. With 3 bedrooms +den and 3.5 baths, it provides the perfect retreat for a family or individuals seeking a spacious living environment. Recently remodeled, this home features high end 'wood like' tile flooring throughout, giving it a modern and elegant aesthetic. The kitchen is adorned with beautiful quartz countertops and equipped with Wolf stainless steel appliances and a Sub-zero refrigerator. The primary bedroom is oversized, offering enough space for a seating area and more. The bathroom has been remodeled, offering a luxurious and serene space for relaxation. There is a large walk-in closet off of the bathroom, with custom built-ins; in addition, there are 2 other closets in the main bedroom The home includes a 3-car garage equipped with a mini split AC. Additionally, the home has a beautiful pool that was just updated with new tile and pebble tech, the pool decking was all re-coated as well. In addition to there is also a hot tub, gas firepit (with seating area), and built in BBQ, this backyard is a beautiful oasis! The home also benefits from a newer roof and AC unit, ensuring comfort and peace of mind. Situated on a corner lot, this home offers picturesque mountain views, creating a serene and tranquil atmosphere. With all of its impressive features and recent upgrades, this home is a must see!!
3804 E Camelback Road
Phoenix, AZ 85018
$1,999,999
4
Beds
4
Baths
4,764
SqFt
Status
Active
MLS #
6764227
Property Type
Single Family Residence
Price Type
--
LUX IN THE CITY! The ideal lock-and-leave home with short term rentals allowed. This beautiful home offers tranquility in the heart of the city, tucked away off Camelback, on a private street. Open and bright with soaring ceilings and spacious rooms, the home exudes elegance. The chef's kitchen is outfitted with Bosch and KitchenAid appliances, dual islands, and custom cabinetry (easily adaptable to white). Massive laundry room with farm sink, lots of cabinets, and plenty of counter space. Enjoy outdoor living with a large patio and two balconies—one with morning views of Camelback, the other with stunning Piestewa Peak sunsets. The primary suite offers dual closets, separate his-and-her toilets, and a spa-like bath with a
12326 E Black Rock Road
Scottsdale, AZ 85255
$1,999,995
3
Beds
3.5
Baths
3,353
SqFt
Status
Active
MLS #
6787768
Property Type
Single Family Residence
Price Type
--
*NEW CONSTRUCTION: SPRING 2025 COMPLETION. Interior Finishes have been added!* This spanish contemporary Irini floor plan is under construction on an elevated home site! Features include an attached Casita with a separate entry, a private Courtyard, Great Room with a 16' glass pocket door and 60'' linear fireplace, SS Wolf appliances, double wall ovens, 48'' Sub Zero Fridge, Soft Water System and large study with wet bar. This is the low-maintenance, LUXURY, lock & leave home you have been waiting for! Located in the stunning guard-gated community, Sereno Canyon. The ultimate resort lifestyle community in North Scottsdale by Toll Brothers. Come take a tour today!
10088 E Duane Lane
Scottsdale, AZ 85262
$1,999,900
3
Beds
5
Baths
4,395
SqFt
Status
Active
MLS #
6755431
Property Type
Single Family Residence
Price Type
--
Custom Built 1+ACRE Estate in North Scottsdale's Exclusive Troon North Gated Talus Golf Community situated on Cul-de-Sac corner lot adjacent to miles of desert preserve providing complete PRIVACY & Endless Desert Mountain Views! This Open Great Room Split Floorplan has 3 EnSuites, +Den/Office +Media/FlexRoom, 3/full & 2/half Baths, 3-Car Garage, Vaulted Ceilings, Gourmet Kitchen, GE Profile SS Appliances, Bay Window Dining, Gas Fireplaces, Wet Bar & Lots of Oversized Windows capturing all the Views. The primary EnSuite has Private Exit to Backyard, Walk-in Shower, Jacuzzi Tub, Walk-in Closet & MORE VIEWS, Resort Style Backyard with Pebbletec Pool, Water Feature, 2-Way Fireplace & SO MUCH MORE - The Community features Trails, Pickleball, Tennis, Shopping, Dining, Parks & Golfing, Must See!
95 Meander Way
Sedona, AZ 86336
$1,999,888
4
Beds
4
Baths
3,981
SqFt
Status
Active
MLS #
6767200
Property Type
Single Family Residence
Price Type
--
Luxury Retreat with Endless Potential Welcome to your exclusive Sedona getaway, where luxury meets opportunity! This fully remodeled, fully furnished, and ACTIVE short-term rental (STR) is not just a property-it's a 2nd home that can STR when you are not enjoying the home. Situated atop a hill in West Sedona, this 4-bedroom gem offers jaw-dropping views of Thunder Mtn and Chimney Rock. Nearly half an acre with pitch & Putt Golf, Hot Tub, front and back yard fire tables for stargazing, Oversized 2 car garage AND separate Covered RV Parking ideal for Sprinter Vans or RVs. Unmatched Features & Amenities Step into a world of sophistication and comfort with two spacious living rooms, a private yoga room, and versatile spaces perfect for hosting guests. NO HOA adds to the allure, giving you the freedom to tailor this property to your vision, whether as a luxurious 2nd or 3rd home retreat or an investor's dream. Natural Beauty Meets Modern Design: Outside, a huge deck and multiple open areas front and back to soak in Majestic Views of Thunder Mountain and Chimney Rock. Inside, the open-concept living area is a showcase of modern design, featuring an exposed beam ceiling, wood vinyl flooring, and designer lighting that creates an ambiance of luxury and warmth. Culinary Delights & Relaxation: The chef's kitchen is a masterpiece, equipped with top-of-the-line Bosch Appliances, quartz countertops, and a 6-burner gas range that will inspire culinary creativity. The primary bedroom is a sanctuary, complete with a private balcony for savoring Sedona's famed sunsets and an en-suite bath that rivals a spa retreat. Entertainment & Outdoor Living: The lower level is dedicated to entertainment and relaxation, offering two additional bedrooms, a versatile Media room with direct backyard access, a yoga/room, and bonus TV sitting room with two twin pull outs. Outside, a cozy patio beckons with HOT TUB, providing a front-row seat to Sedona's natural wonders and easy access to hiking trails, gourmet dining, and local attractions. Step out to the pitch and putt golf course or take in some corn hole. Covered RV Space could be a great tiki bar or used for Sprinter/RV guests. Investment Excellence: With its prime location, luxurious amenities, and exceptional income potential, this Sedona retreat is not just a propertyit's a smart investment that promises both financial returns and a lifestyle of unparalleled luxury. Add additional income by renting out the separate RV Garage. Seize this opportunity to own a piece of Sedona's charm and prosperity! * PRICE INCLUDES: all furnishings, dishes, linens, art, electronics, side by side washer and dryer, two additional refrigerators in garage
5426 E Palo Brea Lane
Cave Creek, AZ 85331
$1,999,888
5
Beds
3.5
Baths
4,761
SqFt
Status
Active Under Contract
MLS #
6753335
Property Type
Single Family Residence
Price Type
--
Wow! Located on a large 13,000+ sq. ft. lot in Cave Creek's Montevista subdivision, this fully renovated Toll Brothers home has it all. From the BEAUTIFULLY landscaped grounds to the stairwell's STUNNING cascading chandelier, this modern 4,761 sq. ft. property is perfect for those who like to entertain! In addition to 5 bedrooms, 3.5 baths, & a well-appointed kitchen (featuring upgraded Jenn-Air appliances), the floorplan has an indoor/outdoor vibe. The living room enjoys a modern fireplace and expansive windows. Outside? There is a RESORT BACKYARD complete with multiple shaded structures, an outdoor kitchen, firepit, & a pool/spa! And best of all? This home is located in the gated community of Montevista (which spoils residents with a 5-acre park, basketball court, playground, & more).
37945 S Blue Tank Trail
Wickenburg, AZ 85390
$1,999,500
4
Beds
3
Baths
3,467
SqFt
Status
Active Under Contract
MLS #
6752522
Property Type
Single Family Residence
Price Type
--
This luxurious Spanish-style estate sprawls 10 acres of pristine desert landscape, offering unparalleled privacy and breathtaking 360-degree panoramic views!! Step into luxury as you enter this meticulously designed home featuring exquisite details at every turn. The negative edge pool and jacuzzi beckon for relaxation while you soak in the stunning desert vistas. Inside, the vaulted tongue and groove ceilings create an atmosphere of grandeur, complemented by hand-carved stone imported from Mexico and handmade cedar cabinets and doors. The gourmet kitchen is a chef's dream, boasting upgraded appliances, stunning granite countertops, and ample space for culinary creations. Indulge in the tranquility of the hand-painted tile in the bathrooms, complete with a jetted bathtub for ultimate relaxation. Throughout the home, you'll find timeless Saltillo floors and fireplaces, perfect for cozy evenings spent with loved ones. For the equestrian enthusiast, a horse barn awaits, ready to accommodate your equine companions. Miles of trails are available for riding! The immaculate courtyard and landscaping provide a serene outdoor oasis, ideal for entertaining guests or enjoying quiet moments of reflection. Casita provides private luxurious guest housing! With a 4-car garage, 50' RV Garage and owned Solar Panels ensuring low-cost living, this property offers both luxury and sustainability. Don't miss your chance to own this slice of paradise in the heart of Wickenburg!
7150 E Sierra Vista Road
Cave Creek, AZ 85331
$1,999,500
4
Beds
4.5
Baths
3,490
SqFt
Status
Active
MLS #
6737872
Property Type
Single Family Residence
Price Type
--
Spacious, gracious, intelligently upgraded classic home high in the pristine Sonoran desert above Cave Creek. Expansive views with unparalleled privacy. The elevation from this 9.9 acre mountainside parcel presents breathtaking sunsets and dark skies at night that illuminate the stars! Remodeled in 2017 and upgraded through 2024 with high-end modern finishes while preserving the integrity of the original homestead built in 1975. Wholly owned solar was added in 2021. This is one-of-a-kind! The 3490sf hacienda (main house) is 3 bdrm (en-suite), study w/closet, gourmet kitchen, & dramatic great rm/dining rm overlooking view and saltwater pool (with pool heater added in 2020) and extensive patios. The 676sf casita has 1 bdrm & bath, kitchenette & living room w/deck overlooking the desert.... In 2021 an atelier/art studio with tile flooring and air conditioning was created by remodeling a storage room. The Mediterranean architecture is enhanced w/ stone walkways, iron archways w/ flowering vines, fruit trees & steel trellised patios. The original supporting wood beams in the Great Room are from the Prescott National Forest. Custom concrete Saltillo tile designed floors provide a maintenance free surface underfoot. A locally designed bespoke gate was added in 2023.
22300 N 90th Street
Scottsdale, AZ 85255
$1,999,000
3
Beds
2.5
Baths
2,764
SqFt
Status
Active
MLS #
6763624
Property Type
Single Family Residence
Price Type
--
Experience the epitome of luxury living in this custom home, situated on a premium lot and nearly an acre in the prestigious Pinnacle Peak Vistas. Breathtaking city light, sunset and mountain views steal the show as you step inside to discover a grand foyer with a gorgeous arched front door that opens into an inviting great room, seamlessly blending the dining and kitchen areas. Your backyard is a true resort-style retreat, featuring a remote controlled heated swimming pool with multiple water features and Tiki Hut swim-up cabana bar, complete with a built-in gas BBQ and ample seating - perfect for entertaining or unwinding after a long day. Relax in the elevated hot tub spa surrounded by lush, mature landscaping, including a gorgeous cactus garden and numerous citrus and fruit trees. The expansive covered patio runs the length of the home and offers great space for enjoying Arizona outdoor living. Low-maintenance artificial turf, putting green and thoughtful hardscape details throughout the yard enhance the beauty of this serene property. The chef's kitchen is a culinary dream, with an incredible view, featuring high end cabinetry, breakfast nook, custom center island, premium stainless-steel appliances, a Cantera stone hood vent and tasteful accents. The master suite, where panoramic city light and sunsets views await, offers private access to your back patio, as well as an en-suite bathroom with dual vanities, a spacious walk-in shower, separate soaking tub and his and her closets. This home is rich in thoughtful details, including travertine flooring, a cozy gas fireplace, a built-in entertainment center in the great room, and a dedicated office with custom shelving and views to the front courtyard. Arched niches and custom painted murals add a touch of personality throughout. In addition to the 3-car garage with storage, the paved circular driveway and auto court provides ample space for guests to park and enter through the front courtyard with a tranquil fountain, outdoor seating and ambient bistro lighting for additional space to entertain. Enjoy the best that North Scottsdale has to offer in this private sanctuary just minutes away from five-star dining, shopping, and easy freeway access. Discover your dream home where luxury, comfort, and convenience meet. Welcome to Pinnacle Peak Vistas!
1778 E Ramsey Road
Benson, AZ 85602
$1,999,000
4
Beds
3.5
Baths
3,551
SqFt
Status
Active
MLS #
6737548
Property Type
Single Family Residence
Price Type
--
Stunning 54-Acre Ranch Property! Experience luxury and comfort in this 3551sqft home featuring an open floor plan, 4 beds, 3.5 baths, granite countertops, wood burning fireplace with stone covered surround, oversized doors, split floor plan, large laundry room with cabinets and countertops. The estate includes 2 horse pastures, riding arena, 8 steel corrals, and 72x60 haybarn. Enjoy modern outdoor amenities like a gazebo with a half bath and outdoor shower, a heated pool and spa, and a basketball/pickleball court. Additional highlights are a 100sqft meat locker, 50x75 3bay insulated shop, internet tower, 22kw generator, and 90 pecan trees. Ideal for horse enthusiasts and those seeking spacious, tranquil living. Don't miss out on this extraordinary opportunity to own a piece of paradise.
7289 E Spanish Bell Lane
Gold Canyon, AZ 85118
$1,999,000
4
Beds
4.5
Baths
4,927
SqFt
Status
Active
MLS #
6751504
Property Type
Single Family Residence
Price Type
--
Custom home where luxury meets comfort with Mountain Views. With thoughtful design and impeccable quality throughout, this home features: Custom Arched Doors; Great Room with Fireplace & Wet Bar; Gourmet Kitchen complete w/fireplace-TV Sitting area & spacious breakfast area; Formal Dining Room w/Built-in food warmer for convenient hosting; Master Suite includes Spa like bathroom - Sitting area - Exercise room & private access to Spa & Pool; 3 Ensuite Guest Bedrooms including a detached casita; Two Private Offices; Large covered Patios - Heated Pool - Built in BBQ Kitchen- New Putting Green; Extra height and length 4.5 car garage; 4 New A/C units 2022 - Stucco painted 2023 - Inside Painted 2024. Welcome to your dream home at the base of the Superstition Mountains.
23560 N 78th Street
Scottsdale, AZ 85255
$1,999,000
4
Beds
3.5
Baths
4,276
SqFt
Status
Active
MLS #
6753791
Property Type
Single Family Residence
Price Type
--
Rare opportunity in the exclusive, gated community of Vista Monterey! Prime location and large private lot combine desert living with modern convenience. This lovely move-in ready home welcomes with a grand foyer separating the formal living & dining rooms. Large windows and plantation shutters. Warm and inviting open kitchen/family room, boasts a fireplace, built-ins and exposed beams. Gourmet kitchen, featuring high-end SS appliances, granite counters, breakfast nook and island w/breakfast bar. Neutral palette, warm wood, tall ceilings, and tons of natural light. Split floorplan, generous master retreat and good size additional bedrooms plus a dedicated office and second living space. Lush backyard with mature trees, extended patio. outdoor fireplace, bbq and breathtaking sunset views.