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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5350 E Calle Del Medio --
Phoenix, AZ 85018
$4,695,000
4
Beds
4.5
Baths
6,167
SqFt
Status
Active
MLS #
6735383
Property Type
Single Family Residence
Price Type
--
Remodeled in 2018, this stunning 6,100 sqft Arcadia Estate sits on a beautiful corner lot bursting with curb appeal with its lush landscaping and welcoming front porch pergola and classic red brick fireplace to greet guests. Thoughtfully designed, this split floor plan presents four spacious ensuite bedrooms including a primary suite designed with luxury and comfort in mind with a spa like bathroom featuring a stand alone tub, walk-in shower, double vanities and hand selected finishes throughout. The rest of the home includes a formal family room finished with wainscoting, a coffered ceiling and a cozy fireplace. In addition, enjoy a private home library with custom built-ins and a reading nook, and a spacious front room perfect for formal dining or a home office. The butlers pantry, with a temperature controlled wine room, connects the formal dining to an oversized eat-in kitchen which is a testament to traditional elegance boasting marble countertops, a large kitchen island, and top-of-the line appliances including a Wolf Range and a Sub-Zero refrigerator/freezer. A passthrough fireplace seamlessly connects the kitchen to the home's great room which includes a full bar and a stunning sliding door entrance to the backyard. Designed for both relaxation and entertainment, the backyard retreat features lush landscaping, a diving pool that can be both heated and cooled, a built-in BBQ, and an elegant covered ramada that houses an outdoor fireplace creating a cozy ambiance for evening conversations and gatherings. To top it off, all your family and friends can have fun enjoying the in-ground trampoline, bocce ball court and a professional batting cage. Walking distance to the coveted Hopi Elementary and in close proximity to Arcadia's most popular shopping and dining experiences, this is the perfect place to call home so you can live, work and play the Arcadia lifestyle.
40575 N 109th Place
Scottsdale, AZ 85262
$4,695,000
4
Beds
4.5
Baths
4,268
SqFt
Status
Active
MLS #
6753950
Property Type
Single Family Residence
Price Type
--
DESERT MOUNTAIN GOLF MEMBERSHIP AVAILABLE!Stunning Contemporary design by Scott Lenz with panoramic views from Pinnacle Peak to Apache Peak with valley and mountain, and sunset vistas. Open great room floor plan features 4 bedrooms and 4.5 baths and a large three car garage close to the Apache Club House. Planning for spring of 2025 completion. Home is in drywall stage with cabinets and flooring to be installed late November. Appliances to be installed shortly thereafter. Rooms designated and spec book is on property. Great detail and finishes. A 30 day membership application review and approval is required.
10782 E Prospect Point Drive
Scottsdale, AZ 85262
$4,685,000
4
Beds
4.5
Baths
5,260
SqFt
Status
Active
MLS #
6693530
Property Type
Single Family Residence
Price Type
--
Stunning contemporary home designed by J4 Architecture and Design. The home is a perfect blend of indoor outdoor living that captures the unique desert lifestyle that is Desert Mountain. The mountain views are unreal from nearly every corner of this homesite. A perfectly located home, right in the heart of the most sought after master planned community. Floor to ceiling windows throughout, European style cabinetry, top of the line appliance package in Wolf, Sub-zero and Cove.
8200 N Charles Drive
Paradise Valley, AZ 85253
$4,655,000
4
Beds
3.5
Baths
4,750
SqFt
Status
Active
MLS #
6778917
Property Type
Single Family Residence
Price Type
--
Welcome to Arizona's most prestigious real estate enclave nestled in Paradise Valley—. This four bedroom, three and a half bathroom, masterpiece boasts a stunning 270-degree panorama over Scottsdale, the McDowell Mountains, and pristine high desert landscapes. Designed with a striking mid-century modern aesthetic that seamlessly blends with sophisticated contemporary elegance, this residence is crafted by one of Arizona's premier luxury builders, creating a livable art piece. Every inch is meticulously curated, featuring an expansive view deck, walls of glass, a gourmet chef's kitchen, and an opulent primary suite. Perfect for grand entertaining or intimate gatherings, this residence offers unmatched style and captivating, sweeping views.
42159 N 104th Way
Scottsdale, AZ 85262
$4,650,000
4
Beds
4.5
Baths
7,227
SqFt
Status
Active
MLS #
6776319
Property Type
Single Family Residence
Price Type
--
Desert Mountain Golf Membership available...Dramatic contemporary in prestigeous Seven Arrows Village designed by Craig Brown and built by renowned Manship Builders. Classic custom finishes . Glass walls provide Sonoran Desert beauty and Apache Peak vistas to every room in the home. The dramatic gallery-style foyer features a succulent garden and flows to the great room, formal dining, spectacular library/den and luxury primary retreat. The great room opens to covered outdoor living & dining, a magnificent hearth, and a resort patio with forever Valley views of sunsets and city lights. Chef's kitchen, sit-up bar and sunny breakfast room complete the main living level. The lower level is accessed by elevator AND from the main foyer by an elegant artisan-crafted limestone staircase with wrought iron rail, with it's own gallery walkway to the lower level amenities... wine tasting room with wine cellar, workout studio, two large ensuite Bedrooms with patios and pool access, powder room, laundry, flex room for home theater or simulator, and abundant storage. The home has an oversized garage with workshop area, separate storage and tandem 3-car parking. For owners and guests who prefer no steps, the garage is at grade level, with a secondary grade-level formal entry foyer that's part of the lower level art-walk leading to lower level amenities and the grand staircase. All in Fabulous Desert Mountain community with seven golf courses, 10 restaurants, HealthSpa/ Fitness center, pickleball, tennis, bocce and croquet courts, 20+ miles of private hiking trails, and a myriad of year-round planned activities. Club membership application/approval process is 30 days
8115 N 68th Street
Paradise Valley, AZ 85253
$4,650,000
5
Beds
7
Baths
6,303
SqFt
Status
Active
MLS #
6674293
Property Type
Single Family Residence
Price Type
--
Experience ''Old Arizona'' through the creative vision of Master of the Southwest artist Lash McDaniel. The charm, comfort, & quietly elegant design of this special property offers abundant beauty and tranquility, a million mental miles from the hustle and bustle of modern life. This private residence has NEVER BEEN ON THE MARKET, so this is your first opportunity to witness this Arizona masterpiece! The main home consists of 3 en suite bedrooms + 2 powder rooms, a Great Room, Library, Dining Room w/ wet bar, Gourmet Kitchen w/ Sitting Area, & both expansive and intimate patios. There are 7 fireplaces overall. The full Guest House offers 2 bedroom suites, a kitchen and dining area, and beautiful outdoor private patio. The grounds of this property are as enchanting as the home itself!
6296 N Lost Dutchman Drive
Paradise Valley, AZ 85253
$4,650,000
4
Beds
4.5
Baths
4,392
SqFt
Status
Active
MLS #
6692691
Property Type
Single Family Residence
Price Type
--
Spectacular Camelback Mountain Views are laying at your patio at expansive pocket doors in this low maintenance recently highly updated home in The Village at Mountain Shadows. MANNED guard gated - and newly installed EDGE wireless alarm system - operate from your cell phone or IPAD. Block constructed home w/contemporary styling with state-of-the art updates: Wolf Gas Range/Beverage Cooker/SubZero Drawers/Miele Coffee Maker/Steam Oven/Warming Drawer/Scottsdale Icemaker/Waterstone Endeavor Wheel pulldown faucet. Kitchen opens to expansive windows that open to pull up courtyard bar for wrap around patio entertaining. Dining Room/Handmade Hillard GLASS chandelier - conveys. Relax and unwind in sumptuous primary suite & primary bath/FIRST FLOOR - (cont'd).. Robern lit medicine cabinets/custom cabinetry/WI shower with new showerhead/towel bars/Toto Washlet water closet/WI closet w/custom cabinetry/addt'l custom storage cabinetry. So many details and customizations: Temperature controlled wine cellar/sunshades with wind/sensor remotes/Minka Ceiling Fans & remotes/flex room coffee snack bar with Subzero refrigerator drawers/upgraded kitchen cabinet hardware/whole house water filtration system/firepit/air conditioned 3-car garage w/EV outlet/workbench/epoxy floors/storage cabinetry. Laundry w/Miele washer/dryer/folding counters & Sink. ELEVATOR is conveniently located! NEWLY LANDSCAPED LOW MAINTENANCE YARD - WITH PUTTING GREEN & large privacy trees! PLEASE VIEW OUR HD VIDEO FOR A SPECTACULAR VIEW OF THIS CUSTOM HOME!
40 Roadrunner Lane
Sedona, AZ 86336
$4,645,000
7
Beds
5
Baths
4,630
SqFt
Status
Active
MLS #
6770446
Property Type
Single Family Residence
Price Type
--
PRICE REDUCTION! STR PERFORMING WITH OVER $457k WORTH OF RESERVATIONS from October 2023 until August 2025! Step into luxury living with this exquisite 7-bedroom, 5-bathroom home, perfectly situated in the heart of Sedona with NO HOA! Boasting a modern design, this property is a true entertainer's dream, offering the perfect blend of sophistication and comfort. As you enter through the grand foyer, you'll be greeted by a spacious open-concept great room and kitchen, creating a seamless flow for social gatherings. The split floor plan ensures privacy, with the primary bedroom boasting a luxurious walk-in shower, deluxe soaking tub and also features a spacious walk-in closet. The primary also has direct access to the pool area.
10208 N Palisades Boulevard
Fountain Hills, AZ 85268
$4,600,000
5
Beds
10
Baths
8,837
SqFt
Status
Active
MLS #
6784757
Property Type
Single Family Residence
Price Type
--
Indulge in luxury living at this spectacular Firerock residence, offering breathtaking views over Phoenix from nearly every room. Spanning an impressive 8,837 sq. ft. on a 1.1-acre lot, this estate boasts 5 spacious bedrooms, each with a private balcony with for sweeping, unobstructed vistas, and an astounding 10 bathrooms. The interior is designed for ultimate entertainment and relaxation, featuring a state-of-the-art 12-seater cinema room, a gym, and both steam and infrared saunas. For those who enjoy entertaining, the chef's kitchen is a masterpiece, equipped with floor-to-ceiling custom cabinetry, three ovens, two dishwashers, and an expansive island with bar seating. Step outside to your private oasis where a negative-edge pool and spa blend seamlessly with the desert horizon The resort-style backyard includes a fire pit, gas BBQ, misters, heat lamps, and meticulous landscaping maintained by a state-of-the-art irrigation system. Recent upgrades totaling $250,000 include a new roof, a heater for the pool and spa, and a fresh balcony with outdoor heaters to enhance outdoor experiences. Nestled within the exclusive Firerock community, you'll appreciate the tranquil ambiance, undisturbed by nearby Shea Road. Plus, as part of the Firerock Country Club, enjoy access to a premium lifestyle right at your doorstep. Optionally, there's space to add a custom wine cellar, further elevating this home's luxury offerings. This home encapsulates elegance, privacy, and the Arizona lifestyleexperience unmatched luxury and schedule your private tour today.
11571 E Cochise Drive
Scottsdale, AZ 85259
$4,599,999
5
Beds
6.5
Baths
8,433
SqFt
Status
Active
MLS #
6673874
Property Type
Single Family Residence
Price Type
--
This elegant luxury estate is a masterpiece of superior craftsmanship and attention to detail. The grand foyer with a striking staircase leads to impeccably designed living spaces, including formal and informal great rooms, a dining area, a custom study or office, and a chef's kitchen outfitted with top-of-the-line appliances. The home also features a wine cellar and abundant storage throughout. The bedrooms are works of art, boasting custom fireplaces, exquisite millwork, designer lighting, and high-end fixtures. The garage is equally impressive, offering ample storage and two EV charging stations for convenience. Set on a lushly landscaped acre, the outdoor amenities are unparalleled. Enjoy a resort-style pool and spa, an outdoor kitchen with a bar, a dining gazebo, a putting This elegant luxury estate is a masterpiece of superior craftsmanship and attention to detail. The grand foyer, highlighted by a striking staircase, leads to impeccably designed living spaces, including formal and informal great rooms, a sophisticated dining area, a custom study or office, and a chef's kitchen outfitted with top-of-the-line appliances. The home also features a wine cellar and abundant storage with ease. The bedrooms and bathrooms are a sanctuary of comfort, adorned with custom fireplaces that add warmth and charm. Throughout the home, you'll find unique millwork, lighting, fixtures, and cabinetry that elevate the space to new heights of luxury. The garage is equally impressive, offering ample storage and two EV charging stations for convenience. Nestled on an acre of lush land, the meticulously manicured grounds offer a resort-like retreat, complete with a sparkling pool and spa, an outdoor kitchen, a dining gazebo, an expansive bar area, and a putting green for leisurely afternoons. Sports enthusiasts will appreciate the basketball court and pickleball court, while tranquil water features add a sense of serenity to the outdoor oasis. Multiple verandas and covered patio areas provide the perfect setting for enjoying the breathtaking surroundings and entertaining guests in style. Take a tour today to experience what luxury living in Scottsdale could look like for you!
10512 E Cholla Street
Scottsdale, AZ 85259
$4,599,000
6
Beds
4
Baths
6,575
SqFt
Status
Active
MLS #
6673888
Property Type
Single Family Residence
Price Type
--
**PRICE IMPROVEMENT**SELLER WILL ENTERTAIN ALL OFFERS!**Luxury home on 2.2 acres of gated property with additional outbuildings. NO HOA! Main house boasts over 5400 sq ft with high end features and carefully crafted appointments to offer high end style in this flexible floorplan. Six bedrooms, 4 bathrooms, 18+ ft ceilings in main rooms, Media Room, Office, Teen Room/Bonus Room off Secondary Bedrooms. Stunning mountain views, private courtyards in the front and back of the home. Beautiful oasis pool with water slide and water feature, outdoor built-in BBQ, fireplace and large grassy yard. 4-car attached extended garage with excess storage. The remainder of the property offers flexibility for your lifestyle - additional 1100 sq ft 2BD/1BA original residence with so much future potential. Sport court with basketball hoops. Additional detached 4-car garage could be used as workshop. Great bones to bring this former horse property back to a working horse property - original 14-stall block wall covered barn with wash area/auto-water/hay storage, a large grassy area which would be a perfect pasture, sport court could be demolished to install a riding arena next to grassy pasture. Main house appraised sq footage 5493. Guest house is original residence.
10831 N Pulve Court
Fountain Hills, AZ 85268
$4,595,000
4
Beds
7
Baths
7,770
SqFt
Status
Active
MLS #
6783325
Property Type
Single Family Residence
Price Type
--
Perched on a prime corner lot in the prestigious gated community of Crestview, this stunning estate offers unparalleled privacy and sweeping views of city lights, majestic mountains, and the serene desert landscape. Beyond the tranquil courtyard, step inside to soaring ceilings, designer finishes, and walls of glass that frame breathtaking vistas. The open-concept living room flows seamlessly into a chef's dream kitchen, featuring dual Sub-Zero refrigerators, three ovens, a built-in espresso machine, expansive granite countertops, and a sunlit breakfast nook. The master suite is a private sanctuary, complete with a cozy sitting area, Cantera fireplace, spa-like bath with dual vanities, soaking tub, walk-in shower, and a colossal custom closet. Three additional en-suite bedrooms, a formal dining room, spacious office, and bonus room with a wet bar ensure comfort and versatility. Entertainment is taken to the next level with a game room, wine cellar, and state-of-the-art movie theater. Outside, the backyard oasis features a stunning negative-edge pool, spill-over spa, firepit, built-in BBQ, and expansive decks to embrace the beauty of every Sonoran season. This home is a rare blend of luxury, functionality, and timeless designa true trophy among Fountain Hills' finest estates.