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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28101 N 109th Way
Scottsdale, AZ 85262
$2,950,000
4
Beds
4.5
Baths
3,730
SqFt
Status
Active
MLS #
6655267
Property Type
Single Family Residence
Price Type
--
Serene is brand new gated enclave of 21 cutting edge single level contemporary homes designed by Swayback Architects & Planners and built by Sonora West Development. Each Serene home brings a new definition to the ''Lock and Leave'' lifestyle with open Great Room floor plans perfect for both entertaining and everyday living. There are four different models to choose from with lavish interior finishes created by renown interior designers Est Est. This Model A has a 2 car garage and available only on lots, 2, 4, 6 & 16. (3 car garage only on lots 7, 11, & 18 at additional cost). Base price shown does not include lot premiums but does include 25K pool and a 25k landscape allowance, Subzero & Wolf Appliances & BBQ. Backing to the North side of Pinnacle Peak Mountain in N Scottsdale Serene... is close to shopping, restaurants and over two dozen private and public golf courses. Don't miss your opportunity to take part in the Serene lifestyle.
9501 N 52nd Street
Paradise Valley, AZ 85253
$2,950,000
6
Beds
5
Baths
4,389
SqFt
Status
Active
MLS #
6766514
Property Type
Single Family Residence
Price Type
--
Welcome to ''Elegant Oasis in Paradise Valley''—a stunning blend of luxury, comfort, and sophisticated design. This exquisite 6-bedroom, 5-bathroom estate is situated on a highly sought-after corner lot in the heart of Paradise Valley, offering over 4,300 square feet of meticulously designed living space on just over an acre of land. As you step through the grand entrance, you'll be captivated by the home's impressive architecture and the perfect blend of modern elegance and timeless style. The gourmet kitchen serves as the centerpiece of the home, a striking granite waterfall island, sleek cabinetry, high-end stainless steel appliances, and a wet bar—ideal for hosting and entertaining guests. The open-concept layout flows seamlessly into the living room, where a cozy fireplace and beautiful wood-beamed ceilings create a warm, inviting atmosphere. For those who love movie nights, the custom theatre room provides a perfect retreat for family and friends. The spacious primary suite is a true sanctuary, featuring dual walk-in closets, a spa-like bathroom with a luxurious soaking tub, and an oversized walk-in shower. The secondary primary suite is equally impressive, offering its own en suite bathroom and direct access to the backyard. Shutters are featured throughout the entire home, adding privacy and style to every room. Step outside and discover your own private resort. The backyard is an entertainer's dream, complete with a heated pool featuring a waterfall, a relaxing spa, and plenty of patio space for outdoor dining and lounging. The sport court offers endless opportunities for recreation, while the meticulously landscaped grounds provide a serene and tranquil setting for relaxation. The property also features an RV gate for easy storage of recreational vehicles. Recent upgrades make this home truly turnkey. The flooring was completed in 2022, and the ceilings were raised the same year, enhancing the home's open, airy feel. The two AC units and pool pump were replaced in 2024 to ensure ultimate comfort and efficiency. A new tankless hot water heater and a water softener ensure convenience and energy savings. The three-car garage features epoxy flooring and a 220-volt outlet, perfect for charging electric vehicles. This property has been meticulously maintained and thoughtfully designed to maximize comfort and flow, blending indoor and outdoor living seamlessly. Whether you're hosting a large gathering or enjoying a quiet evening at home, this estate offers the ultimate in luxury and style. Located in one of Paradise Valley's most prestigious areas, this home is close to top-rated schools, world-class dining, and upscale shopping. Experience unparalleled luxury in Arizona.
7486 E Sonoran Trail
Scottsdale, AZ 85266
$2,950,000
4
Beds
4.5
Baths
4,740
SqFt
Status
Active
MLS #
6714935
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home in the exclusive, guard-gated community of Whisper Rock in North Scottsdale. This stunning Spanish-style residence offers 4,740 square feet of luxurious living space, featuring four spacious bedrooms, four and a half baths, and a dedicated office. Enjoy the elegance of arched doorways, multiple fireplaces, including a magnificent canterra stone fireplace in the great room, and a 720-bottle wine cellar for the connoisseur. The separate guest house off the front courtyard provides additional privacy and convenience. Outdoors, entertain with ease around your private pool & spa with a water feature, outdoor BBQ, firepit, and a covered dining area. The property, situated on a desirable corner lot, also boasts a meditation courtyard, an inground trampoline, and a lush grassy area surrounded by mature vegetation. As part of the Whisper Rock community, you'll have access to a community pool, tennis courts, pickleball courts, and a state-of-the-art workout facility. This is not just a home; it's a lifestyle.
10471 E White Feather Lane
Scottsdale, AZ 85262
$2,950,000
3
Beds
3.5
Baths
4,562
SqFt
Status
Active
MLS #
6772437
Property Type
Single Family Residence
Price Type
--
Discover this awe-inspiring, custom Pinnacle Canyon home sitting on over 2.6 acres. This residence showcases truly stunning panoramic views. Surrounded by striking boulders, the home offers ultimate privacy. With beautiful stone floors, elegant fireplaces & a serene backyard oasis, complete w heated pool, this home exudes charm and tranquility. Enjoy your morning coffee or evening wine in the cozy hearth room/breakfast nook or on the inviting patio, surrounded by the gorgeous Phoenix desert landscape. The chef's kitchen is equipped with gas range, a spacious island, granite counter tops and a large walk in pantry. Primary bath features a wet room, including a massive 40'' rain shower head. This unique property also features a state-of-the-art car lift, perfect for showcasing your prized collection or tackling those weekend projects with ease. This one of a kind home is perfectly situated in a gated golf community near Kierland and Scottsdale shopping.
7161 E Rancho Vista Drive Unit 6001
Scottsdale, AZ 85251
$2,950,000
4
Beds
2
Baths
2,590
SqFt
Status
Active
MLS #
6760219
Property Type
Apartment
Price Type
--
This is it. Welcome to the most incredible Optima Camelview condominium to ever be offered on the re-sale market. Designed & originally owned by the developer of this state of the art award winning community. Out of 688 units, this exquisite residence was their choice. Boasting 4 Bedrooms, 2 Baths, 2,590 sqft, ~1000 sqft of both covered and uncovered terrace space & the most breathtaking Camelback Mountain & McDowell Mountain Views. This unit features a fantastic open floor plan, endless floor-to-ceiling glass, 3 Patio/Terraces (perfect for relaxing & entertaining), a natural gas piped in bbq, fire pit and fire place, designer finishes through-out, automated blinds & so much more. The master suite is extremely spacious w/ a huge walk in closet (w/ it's own window!) & a very large bath.
10040 E Happy Valley Road Unit 301
Scottsdale, AZ 85255
$2,950,000
4
Beds
4
Baths
4,632
SqFt
Status
Active
MLS #
6764421
Property Type
Single Family Residence
Price Type
--
A rare opportunity awaits with IMMEDIATE GOLF MEMBERSHIP AT CLOSE OF ESCROW in the prestigious guard-gated community of Desert Highlands. The monthly HOA dues conveniently include member golf fees. This 4-bedroom home, including a detached casita, is perfectly nestled along the 4th fairway of the world-renowned Jack Nicklaus Signature Golf Course, offering breathtaking views of both the course and surrounding mountains. From the moment you arrive, the captivating curb appeal draws you in, and as you step through the door, you're welcomed by an atmosphere of elegance, tranquility, and seamless functionality. Private backyard retreat with pool/ spa, large covered patio, fire pit with seating is a perfect sanctuary for entertaining year round, providing the ultimate living experience.
9027 N 82nd Street
Scottsdale, AZ 85258
$2,950,000
5
Beds
3.5
Baths
4,364
SqFt
Status
Active
MLS #
6781793
Property Type
Single Family Residence
Price Type
--
MUST SEE!!! McCormick Ranch culdesac home on oversized lot (one of the largest in entire neighborhood) that has been completely reimagined & remodeled with a modern floor plan. The single level home offers a 888 sq ft guest home with full kitchen, laundry, & 10 foot ceilings. The main home offers luxury, convenience, & designer touches. Large chefs kitchen with Thermador appliances, including bonus butlers pantry & butlers fridge, water filtration & water bottle filler, built in espresso maker, & oversized quartz waterfall island. Super sized utility room with double washer/dryer & custom lockers & storage. Primary suite with oversized shower, dual shower system & large soaker tub. Open great room with floor to ceiling wood burning fireplace, surround sound & smart features throughout
5430 E Royal Palm Road
Paradise Valley, AZ 85253
$2,950,000
5
Beds
3
Baths
2,733
SqFt
Status
Active
MLS #
6779945
Property Type
Single Family Residence
Price Type
--
One acre + North/south lot close to Paradise Valley Country Club. 3 C Schools. Survey is included and located in document tab. House is a tear down and value is in the land. Property has all utilities - Sewer has been brought to corner of property. Great views- non-hillside lot. Do not walk property without permission. Buyer to do due diligence before writing offer. Owner/agent. Carry is possible with 25% down, 10% interest.
6936 E 1st Street
Scottsdale, AZ 85251
$2,950,000
2
Beds
2.5
Baths
3,000
SqFt
Status
Active
MLS #
6692878
Property Type
Townhouse
Price Type
--
Nestled in Arizona's most sought-after city, The NINES are a new collection of residences in Old Town Scottsdale brought to you by Two Hawks Design and Development. This custom home offers 3,000 SF of living space, 2 bed, 2.5 bath, 1 bonus room, a 2-car garage, and NO HOA FEES!!! Sleek modern architecture opens to three light-filled levels of refined interior luxury. This home offers expansive windows, a private backyard, a rooftop terrace, 2 additional outdoor patios, and bespoke details and finishes. This custom contemporary home invokes a simple refined style of living with unbeatable proximity to Scottsdale's premier lifestyle amenities. Discover fine dining, high end retail, and the Scottsdale Arts District just steps from your door.
6501 E Willow Springs Lane
Cave Creek, AZ 85331
$2,950,000
4
Beds
3
Baths
3,400
SqFt
Status
Active
MLS #
6703214
Property Type
Single Family Residence
Price Type
--
Welcome to this stunning contemporary Home on 4+ acres nestled amidst picturesque mountain ranges! A nearly new Home, this property offers both luxury and serenity in an Estate Homes area with no HOA restrictions. Collectors and hobbyists will love the 56' pull-through RV GARAGE and 4 large car bays. Modern finishes, abundant natural light, and thoughtful design elements extend throughout. FURNISHINGS are available separately. Enjoy indoor-outdoor living with a telescoping wall of glass in the Great room and a well-appointed kitchen with a waterfall quartz island. The Owner's suite is a luxurious retreat, featuring a spa-like bathroom and private patio. Outside, a large covered patio provides shade for entertaining, while the expansive land offers endless possibilities for customization. Would you add a guest casita, pool, spa, pickleball, an arena, or a barn? Relish the peaceful small-town lifestyle while still enjoying city water and paved roads. Nearby Cave Creek offers shopping, dining, and entertainment. Don't miss this extraordinary opportunity to make this property your own and start living the life you've always dreamed of.
3562 E Presidio Circle
Mesa, AZ 85213
$2,950,000
8
Beds
7
Baths
9,419
SqFt
Status
Active Under Contract
MLS #
6772866
Property Type
Single Family Residence
Price Type
--
Welcome to this breathtaking 8 bedroom, 7 bathroom estate in the prestigious Montana Dorado neighborhood, spanning an impressive 9419 square feet. A dramatic double staircase and designer lighting greet you upon entry, setting the stage for the luxury that unfolds. To the left, a formal living room, and to the right, a dining room capable of hosting a 16-person table, showcase the home's grandeur. High-end tile guides you to an expansive family room with 22' ceilings and a striking floor-to-ceiling brick fireplace. The chef's dream kitchen features a large granite-topped center island, breakfast nook, and premium appliances including Sub-Zero and Wolf, complemented by a large butler's pantry and wine cooler. Pocket sliding glass doors open to a covered patio and a backyard oasis with a lengthy pool, slide, waterfall, swim-up bar, jacuzzi, and a step-down BBQ area, perfect for entertaining. Enjoy two glass fire pits, an in-ground trampoline, and a putting green, all with the privacy of no backyard neighbors. The home also boasts an office, workout studio with a dual head steam shower, game room with kitchenette, and two generous laundry rooms. Security is paramount with commercial steel exterior doors, hardwood 8' interior doors, and a home security system with cameras. The 4-6 car garage features EV Charging, built-in cabinets, epoxy floors, and a mini split room. An RV gate adds to the convenience. This home is a masterpiece of design and functionality, offering unparalleled luxury and comfort.
9125 N Lava Bluff Trail
Fountain Hills, AZ 85268
$2,950,000
4
Beds
4.5
Baths
4,253
SqFt
Status
Active
MLS #
6632276
Property Type
Single Family Residence
Price Type
--
*** SPECTACULAR VIEWS*** of Four Peaks & surrounding mountains, this STUNNING FireRock home is ideally situated looking out over 2 golf course fairways & a LAKE! The ULTIMATE in soft Contemporary living w/a GREAT Room highlighted by 14ft beamed ceilings, a 2-way Stone Fireplace & floor to ceiling windows to enjoy EXTRAORDINARY VIEWS all around! Main house is approx. 3,851sf PLUS approx. 402sf in a GUEST CASITA. This den could be a media/theater room! This Chef's kitchen boasts Quartz countertops, Custom Designed Cabinetry, & a Wolf induction Cooktop & Oven. A gorgeous spacious Primary Suite which has dual vanities, a sep. shower & tub & a customized walk-in closet. EPITOME of RESORT STYLE LIVING w/ OUTSTANDING VIEWS, pool,spa & built-in BBQ! Beautiful Porcelain 24 x 48 tile floors have now replaced the carpeted secondary bedrooms and all porcelain 24 x 48 tile floors throughout refinished 6/24. Additionally, there is an anti-crack membrane to help prevent the porcelain tile floors cracking or breaking!