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.
Click Here to See What Your Home is Worth
26005 N 107th Way
Scottsdale, AZ 85255
$1,925,000
2
Beds
2.5
Baths
3,720
SqFt
Status
Active
MLS #
6773941
Property Type
Single Family Residence
Price Type
--
Resort-style living with sweeping Pinnacle Peak, sunset & city light views await you in Scottsdale's guard-gated Windy Walk community, adjacent to Troon Country Club. Every room offers its own unique ambiance with stunning views as the backdrop. The primary suite features a cozy fireplace and attached office (could be converted to a guest suite). The oversized guest suite also boasts a walk-in closet. While you may feel like you're on vacation here, the kitchen is ready for serious cooking with an oversized separate fridge & freezer, double ovens, gas stove & abundant storage. Outdoors, relax on expansive covered patios, unwind by the fireplace or pool, practice your putting, or host a barbecue-it's all here! Plus you're nearby the Four Seasons Hotel , Troon North Golf, hiking & more!
3110 E Georgia Avenue
Phoenix, AZ 85016
$1,925,000
3
Beds
3.5
Baths
2,600
SqFt
Status
Active Under Contract
MLS #
6775617
Property Type
Townhouse
Price Type
--
Welcome to this charming single-level home, nestled on the lake in the gated community of Village on the Lakes at the Biltmore. Completely renovated in 2015, this home was designed with attention to every detail. From the moment you approach, you're greeted by an inviting front courtyard with a beautiful outdoor seating area, complemented by travertine pavers that guide you to the front entrance. Inside, you'll find three spacious bedrooms, three and a half bathrooms, soaring vaulted ceilings & numerous windows that enhance the home's open, airy feel. The kitchen features custom cabinetry, stunning Taj Mahal quartz countertops, premium KitchenAid appliances, and a dedicated bar and beverage fridge area, making it a dream for both cooking and entertaining. The primary bedroom is a retreat offering the perfect blend of luxury and relaxation. Large sliding doors open to the backyard, allowing you to wake up to breathtaking views of the lake and golf course. The primary bathroom is equally impressive, with a double vanity, spacious walk-in shower, and his-and-hers closets. The backyard is an entertainer's paradise, boasting travertine pavers, a breathtaking ficus tree, a beautiful water feature, low-maintenance artificial grass and a cozy backyard fire-pit. With its private setting, the backyard delivers peace and serenity, framed by stunning views of both the lake and golf course. Additional features include a two-car garage and easy walking access to scenic green belts, upscale shopping, dining, and all the Biltmore area has to offer. This is more than just a homeit's a lifestyle defined by elegance, privacy, and some of the most breathtaking views available. Don't miss this rare opportunity to own a true gem in the desert!
9853 N 48th Place
Paradise Valley, AZ 85253
$1,925,000
3
Beds
2.5
Baths
3,055
SqFt
Status
Active Under Contract
MLS #
6782914
Property Type
Single Family Residence
Price Type
--
Beautiful, fully remodeled home in the unique Taliesin Architect (John Rattenbury studied from and worked with Frank Lloyd Wright ) designed Paradise Valley neighborhood. The home sits on an epic, near half acre lot, surrounded by mature trees, landscaping and beauty. The expansive driveway has an oversized carport that makes you feel as if you're checking into a boutique hotel. Everything is custom built, including a large glass pivot entry door, 9'' Oak engineered hardwood floors, Venetian Plaster master bath with Dutch Design Cabinetry and a steamist steam shower, huge tub with large glass windows and water that cascades down from the ceiling. Chef kitchen featuring Subzero Wolf Beverage Refrigerator, and much more. Excellent Schools, Very close to Shea & Tatum, grocery stores. Own/Agen
39220 N 30th Drive
Phoenix, AZ 85086
$1,900,000
4
Beds
5.5
Baths
3,800
SqFt
Status
Active
MLS #
6731365
Property Type
Single Family Residence
Price Type
--
Welcome to your dream retreat, where luxury meets adventure! Nestled in a secluded, gated community, this custom estate home is a haven for RV and off-road enthusiasts. With a 4-car extended-length garage and an attached RV garage, you'll have ample space to store your vehicles and gear, ready for your next journey. Step through the elegant steel and glass doors into a world of opulence. The grand entrance features soaring 12-foot ceilings and an open great room with panoramic doors that invite the outdoors in. Cozy up by the electric fireplace or enjoy the seamless flow to the expansive pavered patio, perfect for relaxing or entertaining. The chef's kitchen is a culinary masterpiece with a separate induction cook-top, wall oven, microwave, and a generous butler's pantry with sink The enormous island and matching cabinetry extend into the dining area, providing a stylish and functional space for meals and gatherings. Enjoy the seamless flow of 8-foot interior doors and wood-look plank tile throughout, enhancing the open and airy feel of the split floor plan. The primary bedroom is a retreat of its own, featuring a private exit to your personal patio and a luxurious bathroom with a large walk-in shower, large soaking tub, separate vanities, leading to a spacious closet with a dressing table that connects to the laundry room. For those who work or need extra space, there's an office/den and a convenient half bath for guests. The three guest bedrooms each come with a private en suite, ensuring comfort and privacy for all your visitors. Don't miss the additional amenities like the large, open and pavered patio with another full bathroom. As well as 400 AMP panel in the garage and the central vac system, adding convenience and efficiency to your home. This estate is more than just a home, it's a gateway to endless adventures and ultimate comfort. Make it yours and start living the life you've always dreamed of!
51414 W Pete Road
Aguila, AZ 85320
$1,900,000
3
Beds
3.5
Baths
6,556
SqFt
Status
Active
MLS #
6659027
Property Type
Single Family Residence
Price Type
--
This magnificent Property offers Hacienda Style Architecture reminiscent of Spanish Living plus a 52' x 80' Hangar with Pilot's Lounge. Chef's Kitchen boasts Wolfe Range, Kol-Gard Commercial Refrigerator, Traditional & Baker's Islands, Conversation Counter & Separate walk-in Server's Pantry. Complete with Formal Dining Room, Great Room Dance Floor, Wet Bar, Spa, Atrium, multiple Fireplaces, Den & Office, it's ideal for personal Luxury or Entertaining. The spacious Primary Suite features multiple Bath areas, Large walk-in Closet & Sitting Room. Guest Rooms have Private Exits. Enjoy Outdoor Living on the Covered Patio. The 52' x 80' Hangar features Pilots' Lounge, Shop, Storage Room & Sunshade Port. Propane & Diesel Fuel Tanks plus RV parking add to the convenience of Airpark living. Property is on 5 acres with Private Well, Well House & Detached Garage in a Gated Airpark with HOA & CCR's. State Land across the street to the South. Community has a 3,906' paved, lighted runway, paved taxiways/streets & community center for great gatherings. See Document Tab for Additional Features. THIS IS AN ACTIVE AIRPARK. PLEASE YIELD TO PLANES. DO NOT CROSS, DRIVE OR WALK DOWN RUNWAY.
7220 N 185th Avenue
Waddell, AZ 85355
$1,900,000
3
Beds
2
Baths
1,000
SqFt
Status
Active
MLS #
6691951
Property Type
Single Family Residence
Price Type
--
Here's your chance to one a piece of Waddell history...the iconic LITTLE KENTUCKY! Equestrians, trainers, breeders, this is the property you have been looking for. Offering an impressive 140 x 250 covered arena, 3 enclosed barns offering 16x16 stalls fully trimmed out with high pressure mister systems, water and electric, the large barn also offers a workshop shop and trainers office with kitchenette area, there is an additional 4 stall shed row offering 12x 32 stalls, 60' trainers round pen, hot walker, covered hay storage, several tack and storage areas, wash rack,. multiple pastures, exercise track, 32 stalls in total and not to mention the very comfortable and nicely appointed 3 bedroom apartment AND ASK US ABOUT THE POSSIBILITY OF PURCHASING THE MAIN HOME AND ADDTIONAL 4 ACRES!!!
4502 E Calle Tuberia --
Phoenix, AZ 85018
$1,900,000
4
Beds
3
Baths
1,953
SqFt
Status
Active
MLS #
6716154
Property Type
Single Family Residence
Price Type
--
Welcome to this gorgeous oasis in the heart of Arcadia! Nestled on a generous .24-acre lot, this 4-bedroom, 3-bathroom home offers amazing views of Camelback Mountain. Step into the backyard and discover the lush landscaping creating a serene backdrop for outdoor gatherings and al fresco dining. The sparkling pool begs you to take a refreshing dip on hot summer days, while the meticulously manicured gardens offer a peaceful sanctuary for quiet reflection. With new A/C units and fresh exterior paint, this home is not only a feast for the senses but also a practical investment in your future. Don't miss this rare opportunity to own a piece of paradise in Arcadia.
40072 N 110th Place
Scottsdale, AZ 85262
$1,900,000
3
Beds
3
Baths
2,393
SqFt
Status
Active Under Contract
MLS #
6737304
Property Type
Townhouse
Price Type
--
Apache Cottage in a fantastic location!!! Overlooking the 9th fairway of the Apache golf course offering wonderful mountain, sunset, and city light views! This comes fully furnished with everything you can think of all on one level. It is the perfect desert retreat just steps away from the community pool and a short walk to the fabulous Apache Clubhouse!'' MEMBERSHIP AVAILABLE to be purchased with this property. A 30-day Membership application review and approval is required. Contact the Desert Mountain Club for details.
1804 E Senna Point
Payson, AZ 85541
$1,900,000
3
Beds
4
Baths
3,606
SqFt
Status
Active
MLS #
6748495
Property Type
Single Family Residence
Price Type
--
Stunning new WTM Construction home located in the prestigious gated golf community of Chaparral Pines awaits you. This beauty is completed and displays an elegant masterpiece that this builder creates including 2X6 exterior walls, spray foam insulation, concrete fiber siding, Windsor Pinnacle Series Wood Clad windows, and a 50-year GAF Roof. This single level, open split floor plan home sits on a large lot backing to 2 water ponds with a waterfall and is not to be missed. Starting with a grand front entry to the great room is a wall of windows to capture the views where you will notice a stone ceiling to floor gas fireplace highlighted by a beamed ceiling bringing it all together. Kitchen boasts SS Wolfe Subzero appliances such as a 48'' refrigerator, 48'' gas cooktop, built in oven and microwave, Sollid Brand soft close doors/drawers done in Shaker White style with black hardware, upgraded granite throughout, farm sink, an oversized kitchen island and breakfast nook which make it truly a chef's delight. Separate study/office with barn doors also has a beamed ceiling and can be a multi purpose room. Primary bedroom is a dream with a beamed ceiling and exterior doors to the back patio. Bath has dual vanities with large mirrors, walk through shower, 2 closets, and a free standing tub highlighted by a Chandelier. Guest bedrooms are both ensuites with large walk in showers and closets. Garage is oversized and can hold an RV/Boat and has epoxy floor finish and leads into a mud room/breezeway for added convenience. Flooring is all engineered wood with tile in all the wet areas. Large driveway and all patios are done in pavers. Too much to mention! Come experience this amazing build.
3506 E Ivyglen Circle
Mesa, AZ 85213
$1,900,000
8
Beds
6.5
Baths
8,103
SqFt
Status
Active Under Contract
MLS #
6754378
Property Type
Single Family Residence
Price Type
--
This rare estate spans three floors & offers the equivalent of three homes in one with 3 full kitchens. The main floor inspires w/ soaring ceilings & abundant natural light that fills both formal & casual living spaces. Here, you'll find a stunning gourmet kitchen, a guest bedroom, a full bathroom, and a private casita suite (ADU) complete with its own office, spacious living area, garage and fully equipped kitchen. On the second floor, the master suite awaits, a luxurious retreat. Plus 2 additional bedrooms & an office, perfect for work or relaxation. The lower level offers a second ADU w/ 3 bedrooms, 1 bathroom, & its own living/dining area & kitchen— perfect for extended family or rental potential. The backyard features a pool, spa & fire pit. Room for pickleball ct. Virtually staged
3353 S Tourmaline Drive
Flagstaff, AZ 86005
$1,900,000
3
Beds
3.5
Baths
2,720
SqFt
Status
Active
MLS #
6757489
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home in the prestigious Pine Canyon Golf Course community of Flagstaff, Arizona! This beautifully maintained 3-bedroom, 3.5-bathroom residence offers 2,720 square feet of luxurious living space, perfect for those seeking both comfort and elegance. Step inside to discover a freshly painted interior and exterior, along with updated lighting fixtures that complement the home's warm, mountain-inspired design. The main floor features a spacious primary bedroom, providing convenience and privacy, along with a second bedroom ideal for guests or family. The heart of the home is the open-concept living area, where vaulted ceilings and a cozy fireplace create a welcoming ambiance. Welcome to your dream home in the prestigious Pine Canyon Golf Course community of Flagstaff, Arizona! This beautifully maintained 3-bedroom, 3.5-bathroom residence offers 2,720 square feet of luxurious living space, perfect for those seeking both comfort and elegance. Step inside to discover a freshly painted interior and exterior, along with updated lighting fixtures that complement the home's warm, mountain-inspired design. The main floor features a spacious primary bedroom, providing convenience and privacy, along with a second bedroom ideal for guests or family. The heart of the home is the open-concept living area, where vaulted ceilings and a cozy fireplace create a welcoming ambiance. Large windows frame stunning forest views, allowing you to fully immerse yourself in the natural beauty that surrounds you. Venture upstairs to find a versatile loft area, perfect for a home office or entertainment space, leading to a secondary primary suite. This upstairs retreat ensures everyone has their own sanctuary within the home. Situated in a peaceful cul-de-sac, this home boasts updated landscaping and a wrap-around deck, perfect for enjoying the picturesque Flagstaff outdoors. Additionally, the property features a fenced dog run, providing a safe and convenient space for your furry friends. Enjoy the close proximity to the community's top-notch amenities, including the clubhouse, dog park, and kids park, making it easy to embrace an active and social lifestyle. Don't miss your chance to own this exquisite home in Pine Canyon, where luxury living meets the beauty of nature. Schedule a tour today and experience the unparalleled lifestyle that awaits you in Flagstaff!
9811 W Monte Lindo --
Peoria, AZ 85383
$1,900,000
4
Beds
3.5
Baths
3,853
SqFt
Status
Active
MLS #
6772283
Property Type
Single Family Residence
Price Type
--
Beautiful residence sitting on a desired corner lot! This resort style beauty offers a fenced grassy front yard & a welcoming courtyard. Come inside to find formal dining, wood-style flooring throughout, fire sprinklers, a gas fireplace in the living area, & 4-panel sliding pocket doors that merge perfectly the indoor/outdoor living areas giving you the resort feel. Create gourmet dishes in the eat-in kitchen showcasing SS appliances w/double ovens, quartz counters, subway backsplash, farmhouse sink, & a large breakfast bar island. The flexible den boasting double doors is perfect for an office, game area, media room, yoga studio, etc. Retreat to the split owner's suite to discover private backyard access & a lavish bathroom. Too many upgrades to list! Two vanities, a glass enclosure shower, a soaking tub, & oversized walk-in closet complete the main bathroom. You will love the Jack & Jill bathroom with a convenient dual sink vanity. Utility sink & plenty of cabinets in the laundry room! Oasis-style backyard has a sparkling blue pool & spa combo w/lovely waterfall that is the heart of the backyard, a Ramada, grass area, covered patio, & ample dog run w/pet door leading into the house. Don't miss the air conditioned 3-car sided garage, paver driveway for extra parking, & RV gate. This home combines comfort & elegance. Seize this opportunity!