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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12459 N 116th Street Scottsdale, AZ 85259

$2,050,000
5 Beds
4 Baths
4,271 SqFt
Status Active
MLS # 6745021
Property Type Single Family Residence
Price Type --
FINALLY A FAMILY FRIENDLY FLOOR PLAN to satisfy family members & guests. UPDATED with new hardwood floors, kitchen & family room transforming this home to a light, bright, welcoming home perfect for everyday living & entertaining. Spacious Primary Suite boasts a sitting room & updated bathroom with two separate sink areas & 2 walk-in closets. That wing of the house features a Large bedroom or Bonus room plus another bedroom currently used as an office. Opposite are two additional large bedroom & 2 bathrooms. Bedroom # 5 bathroom also serves as a pool bathroom. Remodeled Kitchen has top of the line stainless steel appliances, double sinks, walk-in pantry. Family room also updated has a linear fireplace & wet bar opens to outdoor living. Entertaining is a Must Do with covered patio, built-in BBQ, heated spa & pool, plus a Gazebo with fireplace for day & evening dining. Multiple areas to lounge and plenty of place for children & family pets to romp. In Prestigious 24 Hour Guard Gated Ancala Country Club with true sense of community. Ancala HOA is very active with a variety of social activities to get to know your neighbors. Close to sought after Scottsdale & BASIS Schools, biking & hiking trails, shopping malls, theaters, a variety of dining choices and access to freeways. Ancala Country Club is PRIVATE & membership is OPTIONAL. Membership is required to enjoy the Country Club's tremendous array of programs & events and to play on the par-72 Championship Perry Dye golf course. You'll LOVE Living & Playing in ANCALA! HOME UPDATES 12459 North 116th Street, Scottsdale, AZ 85259 2021 Remodel kitchen, new appliances, hearth room fireplace & bar hardwood floors and baseboards, added custom door to hallway, new pool bath door New lighting and can lights kitchen, hearth, dining room, hallways, living room, New central vacuum system Bathroom counter tops and sinks, faucets New tile roof and exterior paint New outdoor lighting, rock, Irrigation and landscaping Pool cleaned out and new tile New cool deck painting New outdoor grill March 2024 new blinds, some with remotes, July 2024 two new water heaters June 2024 new pool filtration system New pool heater

13108 N 76th Street Scottsdale, AZ 85260

$2,050,000
4 Beds
2.5 Baths
3,184 SqFt
Status Active
MLS # 6787026
Property Type Single Family Residence
Price Type --
JUST LISTED IN 85260 - POOL just RE-PEBBLED/TILED. Newer ROOF. Newer TRANE AC Units in 2020 & 2019. This home is in the MIDDLE OF ALL that is HAPPENING in SCOTTSDALE, ARIZONA! Located 2 min. from Kierland/Quarter & 10 minutes from Fashion Square. The PRIVATE LOT stretches 35,415 SF with a DETACHED GARAGE that holds 6 CARS! Maybe a Future CASITA? The home is 3,184 sf with GORGOUS WOODEN BEAMS on beautifully vaulted ceilings. The grand DINING ROOM opens to a SPACIOUS COVERED PATIO & oversized SPARKLING DIVING POOL! The patio has several entertaining areas with lots of OUTDOOR BAR-SEATING, a FORMAL DINING space with TV & a quaint COZY AREA to relax! RHINOSHIELD Ceramic Warranty. RV GATE & plenty of RV PARKING! Potential AirBnB Ready to Go! All furnishing available on a separate bill of sale

9998 E Taos Drive Scottsdale, AZ 85262

$2,050,000
3 Beds
3.5 Baths
3,460 SqFt
Status Active
MLS # 6694885
Property Type Single Family Residence
Price Type --
Golf Membership Available- Nestled within the serene embrace of Desert Mountain, this exquisite property in Renegade Trail embodies the essence of easy living and timeless elegance all year, as well as a perfect lock and leave for shortened stays. Proudly offered by its original owners, this meticulously crafted residence boasts a prime location, mere moments from the front gate, New Renegade Clubhouse and the Sonoran Fitness Clubhouse, ensuring effortless access to all the community has to offer. Stating a timeless Arizona contemporary style, this home welcomes you with its one level living, adorned with stacked stone accents and sleek metal facia showcasing clean lines and captivating angles. Step through the private gated courtyard, where tranquil cactus gardens and inviting sitting areas set the tone for the serenity found within. Geometric ceiling designs grace the central living spaces, where open wood plank ceilings soar from 9 to 17 feet, complemented by dropped perimeter ceilings with expansive clerestory windows, infusing the interiors with radiant natural light. The heart of the home unfolds seamlessly, inviting gatherings and fostering cherished moments. The great room, with a prominent fireplace, reclaimed barn wood floors, and expansive windows framing picturesque views, invites relaxation and conversation. Adjacent, a sophisticated office space awaits, offering a serene retreat with a slider to the patio, mitered corner windows, and a niche with built-in furniture piece. The expansive kitchen with stone tiled floors, spacious island with seating for 4 and plenty of storage will delight any chef. Enjoy casual meals and outdoor vistas within the kitchen space with table space for 4 and the slider to patio. For larger gatherings the adjacent dining space with continued geometric ceiling detail provides a pleasing as well as intimate backdrop for sharing meals with family and friends. The L-shaped wet bar ensures libations flow, adding to the ambiance of any gathering. Retreat to the private Primary Ensuite, a sanctuary of luxury and tranquility, presenting a two-sided fireplace, scraped hickory floors, and a slider to the serene patio oasis with raised cactus gardens and a soothing fountain. The ensuite bath pampers with dual vanities, a spa-like tub with stone surround, and a spacious walk-in shower, while the expansive walk-in closet ensures ample storage. Two additional ensuites offer comfort and privacy, each appointed with its own unique charm and character. Outside, the L-shaped patio beckons with its covered living areas, grilling station, and linear salt pool, offering the perfect setting for outdoor entertaining or serene relaxation. Enjoy vistas of blazing sunsets, the surrounding mountains and Sonoran Desert landscape, creating an idyllic backdrop for year-round privacy and outdoor enjoyment. Renegade Trail presents an unparalleled opportunity to partake in the world-class amenities of Desert Mountain, including 7 clubhouses, 7 golf courses, 20 miles of hiking trails, and a variety of dining options, all set against the breathtaking backdrop of the Sonoran Desert landscape. Discover the epitome of desert luxury living in this remarkable Desert Mountain residence.

9633 E Quarter Circle Loop Gold Canyon, AZ 85118

$2,050,000
4 Beds
3.5 Baths
3,894 SqFt
Status Active
MLS # 6730396
Property Type Single Family Residence
Price Type --
Beautiful new custom home located in Gold Canyon East at Barkley Ranch backing Golf Course on the 10th Green of the Dinosaur Course. Incredible views of the golf course. Fantastic finishes and details in the cabinetry, wood flooring, wood boxed beams on ceiling, marble tiled master bath, firepit and built in barbecue. The home surrounds a resort style pool with tiled Baja shelf and spa, stone finished columns with copper scuppers pouring waterfalls into the pool. Travertine pavered patios and pool deck with synthetic grass and firepit inside the fenced yard overlooking the 10th green of the golf course with beautiful views.

24423 S 195th Way Queen Creek, AZ 85142

$2,050,000 - 6Br/6Ba -  for Sale in Sonoqui Creek Ranch Phase 1, Queen Creek
Open House
$2,050,000
6 Beds
6 Baths
5,675 SqFt
Status Active
MLS # 6728742
Property Type Single Family Residence
Price Type --
OFFERING $35K IN CONCESSIONS! Welcome to the prestigious Sonoqui Creek Ranch in Queen Creek, where luxury meets lifestyle! You will not find another home with MULTIPLE RV garages. This one-of-a-kind 6-bedroom, 6-bathroom custom estate offers 5,675 sq ft of beautifully designed living space on an expansive acre-plus corner lot. Perfect for entertainers, car and RV enthusiasts, or families, this home offers unmatched versatility and elegance. The heart of the home is the gourmet kitchen and showcases quartz countertops, a spacious island, and top-of-the-line appliances including dual dishwashers, double ovens, a 64'' refrigerator/freezer, and a built-in icemaker. Custom cabinetry, under-cabinet lighting, and thoughtful design make this space both functional and stunning. The master suite is a true retreat with dual vanities, an oversized soaking tub, a walk-in shower, and an expansive walk-in closet. Additional features include ensuite guest bedrooms, a game room, a secondary living space, and smart home technology, all bathed in natural light from oversized windows. A private wing with two bedrooms, a bath, and a plumbed bonus room offers the option of a full casita, second generational home or an ideal family retreat. Step outside to the beautifully landscaped backyard featuring a built-in BBQ, firepit, large covered patio, outdoor speakers, fans, LED lighting, dual RV gates, and maintenance-free synthetic turf. A standout feature and nearly impossible to find, is the 1,532 sq ft dual RV garage, perfect for a car collection, RV/ ATV enthusiast, or anyone looking for a fully insulated (ready to be climate controlled) hobby or shop space. This alongside the oversized 4-car garage make the garage space some of the most versatile and luxurious in all of Queen Creek. Backing to the scenic Sonoqui Wash Trail system, this home offers direct access in just a short walk or bike ride to the new Pecan Lake entertainment district and some of Queen Creek's best dining and recreation. This is a rare opportunity to own an extraordinary home in a prime location!

28415 N 59th Way Cave Creek, AZ 85331

$2,049,995
5 Beds
4.5 Baths
4,030 SqFt
Status Active
MLS # 6642004
Property Type Single Family Residence
Price Type --
Move-In Ready! Featuring a desirable open-concept floor plan, the McDowell is the ideal setting to complement every lifestyle. The spacious foyer opens immediately onto the expansive great room with alluring views of the rear covered patio. The pristine kitchen overlooks a bright casual dining area and is highlighted by a large center island with breakfast bar, wraparound counter and cabinet space, and an ample walk-in pantry. The splendid primary bedroom suite showcases a generous walk-in closet and serene primary bath that features dual vanities, a luxurious shower with seat, large soaking tub, and private water closet. Conveniently located off a sizable flex room, secondary bedrooms offer walk-in closets and private baths. A roomy office can be found off the great room.

28409 N 59th Way Cave Creek, AZ 85331

$2,028,995
4 Beds
4.5 Baths
4,315 SqFt
Status Active
MLS # 6642015
Property Type Single Family Residence
Price Type --
To Be Complete Summer 2024: Lovely foyer flowing past the elegant dining room into the expansive great room and casual dining area that presents alluring views of the desirable covered patio. A large center island with breakfast bar enhances the expertly crafted kitchen that offers plenty of counter and cabinet space, a generous walk-in pantry, and passthrough to the dining room. Featuring a relaxing sitting area and expansive walk-in closet, the palatial primary bedroom suite is highlighted by a spa-like primary bath complete with dual vanities, large soaking tub, deluxe shower with seat, walk-in linen storage, and private water closet. Central to a versatile flex room with covered patio access, secondary bedrooms feature sizable closets and a shared bath.

4588 S Avenida Corazon De Oro -- Gold Canyon, AZ 85118

$2,025,000
3 Beds
3.5 Baths
3,693 SqFt
Status Active
MLS # 6767061
Property Type Single Family Residence
Price Type --
LOCATION, LOCATION! VIEWS, VIEWS! This home lives as if new! Incredible nearly 100% remodel in an unmatched location overlooking the signature hole 5th green of the famous Dinosaur Mountain golf course w/unobstructed views of the magnificent Superstition Mountains in the gated community of Vista Del Corazon in Gold Canyon. Quietness & privacy prevail. 35 miles to Sky Harbor as only one traffic light separates you from the Atlantic & Pacific Oceans. Virtually every surface was upgraded including floors, cabinets, baths, kitchen, appliances, new HVAC's, new paint inside & out. 17' doomed ceilings, wood beams, stone columns & cantera accents t/o. 10.5' glass doors on the main Superstition Mountain view, 4 rooms w/fireplaces, 11'/12'+ ceilings. Formal dining, office, all bedrooms ensuite. Coveted north/south orientation. Oversized 3 car garage. High ceilings with clerestory windows bringing welcomed natural light. Exquisitely redecorated from floor to ceiling in 2023-2024 in today's timeless modern style with nothing left to chance and no stone left unturned. 10.5' motorized electric doors bring the Superstition Mountain range into this home. Leathered granite & quartz countertops. All new stainless GE Monogram appliances including 6 gas burner stove with the 'simmer ' feature. Eat-in kitchen and breakfast bar. Attractive 'leathered granite' kitchen island and on bar countertop, quartz counters elsewhere throughout. Separate full bar. Insta-hot and also filtered water at sink. Convection wall oven and duo steam cleaning microwave/oven. Walk-in pantry. Coffee bar. All bedrooms ensuite with walk-in closets. Two-way gas fireplace between Primary bedroom and office. Stone wall accents, plantation shutters, lighted stone lined art niches, all new recessed LED canned lighting. 32 Cantera columns throughout, inside and out. Two new Trane high efficiency HVAC's: one 4-ton 17 seer 2 stage and one 5-ton 16 seer 2 stage HVAC units under manufacturer's warranty. Plumbed for central vacuum. Cantera stone surround on fireplace. Primary bedroom has his and hers closets, private water closet, oversized shower and freestanding modern soaking tub. Surround sound throughout. 8' solid core doors with Emtec hardware. Five security cameras and a Ring doorbell. Remote control darkening blinds in living/theatre room. Oversized 3-car garage--42' wide by 26'6 deep with 3' spacing between bays. Shortest bay 22'10 and longest 26'6. Epoxy floor with a craftsman's dream workshop and plenty of storage. Adjacent to garage is an air-conditioned bonus/media/man cave/golf/hobby room 14' x 10.5' with sink nearby and also can be just storage--heated and cooled by a mini-split. EV 220 volt charging station in garage. Heated pool and spa. Separate free standing spa is available. Two outdoor seating areas with never ending magnificent views including 2 fire pits and an attractive stone fireplace. Roof level upper view deck. New Coyote 42 gas BBQ 2024.

6107 N 175th Avenue Waddell, AZ 85355

$2,007,880
4 Beds
3.5 Baths
3,729 SqFt
Status Active
MLS # 6753671
Property Type Single Family Residence
Price Type --
Welcome to a masterpiece of contemporary design This exceptional luxury modern farmhouse on 1 acre offers a harmonious blend of sophistication, comfort, and natural beauty, promising a lifestyle of unparalleled elegance and tranquility. The main house of 3729 livable square feet holds 4 bedrooms, 3.5 bathrooms , a Casita with 2 bedroom 1 full bath and a Loft with 1 bedroom, 1 bathroom. Totaling 5,934 sqft aproximately livable area Construction made with ICFs (Insulated Concrete Forms), 10'' flat ceiling throughout. The open-concept floor plan flows seamlessly from elegant entryway to the spacious Kitchen and family room with natural light. The gourmet kitchen is a chef's dream, sleek quartz countertops, and custom cabinetry that effortlessly blend modern convenience with farmhouse charm Entertain guests in style in the elegant dining area or gather around the cozy fireplace in the adjacent living room for intimate gatherings and lively conversations. Retreat to the lavish master suite, where luxury abounds with a spa-like en-suite bathroom, shower, walk-in closets. Additional bedrooms, guest house, and versatile living spaces provide ample room for guests, while a dedicated home office offers a serene environment for remote work or creative pursuits. Outside, the grounds invite you with endless opportunities for relaxation and recreation day and night. Lounge by the sparkling pool, take in the peaceful sounds of the pool waterfalls, dine al fresco under the extended covered patio, From the patio go upstairs to the balcony to the soaking in the beauty of the starlit sky. Don't be afraid to walk barefoot all summer long because these travertine title never get hot. Plenty of room in the 4 tandem car garage and RV Garage Conveniently located just minutes from Glendale Westgate world-class dining, shopping, and entertainment options, this modern farmhouse oasis offers the perfect balance of privacy and proximity to city amenities. Explore nearby hiking trails, golf courses, and cultural attractions, or simply unwind in the serenity of your own private desert retreat. Experience the epitome of luxury desert living in this exceptional modern farmhouse, where every detail has been carefully curated to elevate your lifestyle and exceed your expectations. Welcome home to your ultimate Waddell sanctuary. Across from the pool, the guest house of 1,005 livable square feet contains a full kitchen, living room, 2 bedrooms, 1 bathroom, and laundry room. The loft is under 1200 sqft and also has 1 bedroom, 1 bathroom, a kitchen, a laundry area with washer and dryer hook-up.

4810 N 43rd Street Phoenix, AZ 85018

$2,000,000 - 4Br/4Ba -  for Sale in Arcadia Villa Plat 3, Phoenix
Open House
$2,000,000
4 Beds
4 Baths
2,834 SqFt
Status Active
MLS # 6762643
Property Type Single Family Residence
Price Type --
VOTED BEST HOUSE ON REALTOR TOUR! In all my years in R.E., I have never seen a more meticulous, thought out, quality, over the top remodel. The final city building inspector declared it a new construction! Top of the line everything. As of 2020, new plumbing, new electrical including the panel, new roof, new AC including duct work, new flooring, new kitchen, owned solar in 2022, hardwired security and internet, reverse osmosis and soft water loop, low voltage recessed lighting, misting system with additional exterior gas stubs for firepits or exterior heaters, low E triple paned windows with auto retractable blinds, Thermador duel fuel gas stove top with electric range, LG Inverter lineage fridge. Dual head shower in primary bath. Storage building is wired and AC. House is clan with Hardie board concrete siding. See document tab for details. Two safes, work out equipment, W&D, BBQ, and additional range/oven available. Super insulated attic and walls (see documents tab in addition to the owners explanation of other details. List price is the 3/24 Appraised value. VOTED BEST ON TOUR AT THE RECENT BROKERS TOUR!!

19915 E Sonoqui Boulevard Queen Creek, AZ 85142

$2,000,000
5 Beds
4.5 Baths
4,406 SqFt
Status Active
MLS # 6782213
Property Type Single Family Residence
Price Type --
Gorgeous Circle G equestrian estate, this home is the definition of luxury. 5 bedrooms with walk in closets, 3 full bathrooms, 2 additional half bat & theater / media room. Stunning facade w/stone accents, paver driveway in addition to paver circular driveway allows for multiple parking options. 4 car garage & RV gate. Magnificent Iron front door allows for glass to be opened to enjoy the cooler season's fresh air, cantera stone columns inside and out. Regal turret style entry with ceiling medallion and mosaic tile inlay. Chef worthy kitchen features elegant alder wood cabinets, wine bar or additional prep area, beautiful granite counter tops & island/ breakfast bar, tile backsplash, pendant lighting, Stainless steel KitchenAid appliances including gas griddle & convection microwave. So much space in the walk in pantry! Central vac system, R/O & water softener Amazing panoramic views of the pool and horse set up from seamless windows in living room and dining area. 2 charming fireplaces inside, + 1 more outside! 8 ft alder doors throughout add to that decadent feel. Accordion glass panel doors allows the inside and outside to blend when open. Private office/ study has it's own access to an outside paver french patio. The upstairs primary suite is a true retreat with french door access to the outside balcony, a very spacious walk in closet with washer & dryer/laundry set up, & fireplace. The luxurious en suite showcases a walk in his and hers steam shower, and dual vanities & sinks. The entertainer's dream backyard includes travertine pool deck in addition to pavers under enormous covered patio, a cozy outdoor fireplace, sparkling oversized saltwater pool w/multiple water features built in 2021 with Pentair pool equipment controlled easily by Screenlogic app. 3.5 ft to 9ft deep with benches and baja shelf.One variable speed pump and an additional pump for the 4 corner water feature. Poolside shower is just one more of the endless features here. New Whole house hot water circulation pump. 3 horse stalls with shade/fan/water, a round pen, 2 grazing pastures, 4 horse water valves, flood irrigation & sprinkler irrigation, 8x40 container /horse tack shed, 8x10 shed, 5x8 shed, 5x8 3 sided hay storage shed. This home is one of the few to have direct access the the bridle path via private gate! Just 1 mile to Horseshoe Park ( park has an outdoor arena and round pen, FREE to QC residents 7 days a week. Access the nearby Sonoqui walking/biking/riding trail for a short ride to nearby Creekside restaurant, hitching post already waiting for you there! Sub panel in garage with 220 v is so useful for the DIYer auto enthusiasts, woodworker, welder to power heavy equipment, and off south side of house, buyer can complete hook up process of additional sub panel. Water heater new in 2024. A/c condensers & motors 2019.

8335 N Vista Lane Prescott, AZ 86305

$2,000,000
5 Beds
5 Baths
4,891 SqFt
Status Active
MLS # 6730398
Property Type Single Family Residence
Price Type --
Contemporary home nestled at the base of Granite Mt. in Williamson Valley on 4.75 acres. Enter this passive solar home through extensive rose gardens surrounding an 1100 sf patio framing views of Granite Mt. Upon entering the home designed by a student of Paolo Soleri experience the of Pella Solariums to bring the views indoors. Views of the San Francisco Peaks are captured from the rear covered patio connecting the main house to the guest wing. The main house is 3,681 sq ft. featuring an open floor plan consisting of soaring 20-foot wood vaulted ceilings & clerestory windows in the kitchen, bar & great room. The Chefs kitchen features Wolf & Sub Zero appliances, custom cabinets. See document tab for more details.

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