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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18 E Heron Place Saint David, AZ 85630

$2,895,000
4 Beds
5 Baths
4,386 SqFt
Status Active
MLS # 6358785
Property Type Single Family Residence
Price Type --
MEDITERRANEAN DREAM HOME PRE-SALE TO BE BUILT ON THIS PRISTINE FOOTHILLS CUSTOM SURVEYED 37.14 ACRES HIGH ON A RIDGE CAPTURING ALL THE MAJESTIC 360' MOUNTAIN VIEWS LIKE NO OTHER * BIG ROAD FRONTAGE ON CUL-DE-SAC HERON PL. & DRAGOON RANCH ROAD * STARY NIGHTS FEELS LIKE YOU CAN TOUCH THE STARS * 4 BEDROOMS W/GUEST SUITE * 41/2 BATHS * ENORMOUS GOURMET KITCHEN * GRAND MASTER BATHROOM * OUTDOOR LIVING AT ITS BEST *SEE INTERIOR RENDERING PHOTOS & HOME SITE * CITY LIGHTS OF SIERRA VISTA, TOMBSTONE, BENSON * GATED ACCESS TO THE 52,000 ACRE CORONADO NAT'L FOREST WITH MILES OF HIKING & EQUESTRIAN TRAILS TO EXPLORE * VISIT THE HISTORICAL ''COCHISE STRONGHOLD'' AND TREATY HILL * MINUTES TO BENSON AIRPORT & GOLF COURSE *** BEST KEPT SECRET GATED COMMUNITY IN TUCSON ***LOW TAXES *** NO CITY TAX *

19992 N 101st Place Scottsdale, AZ 85255

$2,895,000
3 Beds
3.5 Baths
2,797 SqFt
Status Active
MLS # 6780780
Property Type Single Family Residence
Price Type --
Charming Silverleaf villa w/casita located on beautiful Jacaranda Park w/breathtaking McDowell Mountain views. Exquisitely remodeled w/high-end finishings & no interior steps. Spacious great room w/gorgeous stone wall, romantic fireplace & beamed ceiling. Kitchen features spectacular Taj Mahal Quartzite counters w/large island for seating of five, all new Wolfe/SubZero appliances including 6-burner gas stove, 150 bottle wine fridge & additional 50-bottle under counter wine fridge, updated kitchen cab's w/custom pullouts & granite sink. Beautiful oak wood & travertine floors t/o. New: Carrier A/C units for main house & casita, split-unit A/C for garage, tankless instant hot H2O heater, completely remodeled courtyard w/new spool & equipment, firepit, BBQ, Bromic electric heater over dining area of patio & all new landscaping. New Quartzite tops & sinks in laundry & powder room, all new lighting fixtures including all can lighting, new fireplace gas log insert, new window coverings, paint, plumbing fixtures t/o w/all new valves & new Toto toilets. Sound system t/o home & patios, beverage fridge in large casita, plantation shutters, Nest thermostat & MBR electric mirrors. This is truly a jewel within the beautiful sought after community of Silverleaf.

39334 N Old Stage Road Cave Creek, AZ 85331

$2,895,000
4 Beds
4.5 Baths
3,603 SqFt
Status Active
MLS # 6575759
Property Type Single Family Residence
Price Type --
'To be built' Spectacular Hillside Custom Contemporary, located minutes from Cave Creek 'main street' in The Village at Go John Canyon. MODEL HOME IN COMMUNITY IS UNDER CONSTRUCTION ON PARCEL 5. No HOA. Nestled into the upslope of Go John Mountain, this single level 3603 sq. ft. Desert Contemporary is featured with a fabulous Great Room, temp controlled glass enclosed wine room, luxurious Owner's Suite, gourmet chefs kitchen, heated pool, spa and elevated expansive S.E. views. Some Images are conceptual and subject to modifications. Ask about the 'optional' 900 sq. ft. Carriage Home above garage.

36202 N 36th Street Cave Creek, AZ 85331

$2,895,000
4 Beds
2.5 Baths
4,202 SqFt
Status Active
MLS # 6691402
Property Type Single Family Residence
Price Type --
Absolutely stunning, fully fenced horse property just under 5 acres surrounded by Arizona State trust land and NO HOA. This spectacular horse property has easy access on paved roads, is on city water and only 5 minutes to shopping, but still has the serenity and privacy of being secluded in the beautiful Sonoran desert. The views from both the home and arena are unparalleled. Not only is the property fully fenced with oil pipe fencing, so is the horse facility. The horse facility has its own entrance on the north side of the property where you can drive right up to the lighted and covered 12 stall mare motel, each with runs and no climb fencing. There is covered hay storage, a clean and spacious tack room with epoxy flooring and two separate wash racks. Additionally, there are double gates throughout the whole property for ease of not only maneuvering but pulling thru trucks and trailers and plenty of space for multi use. This property also has two giant turn outs (can be divided for more), a 50' round pen, a brand new professional grade 6 horse Priefert walker, upgraded WiFi for google cameras at the barn and sonos speakers at the barn and house . The arena is 130x280 with brand new footing and has plenty of room for additional turn outs or holding pens for cattle. To top it off, there are two brand new full RV hook ups, one with a 50amps, one with 35amps plus an additional 35amps outlet for another hookup. Drive up thru the impressive double gate onto your property and notice the exquisite pavered driveway and parking area. It's breathtaking. Enter thru the massive custom Cantera Luxe iron double doors into a giant great room with views of the mountains. The 12 foot high ceilings with skylights adds to the spacious feel of this custom home. The great room has a wet bar, wine fridge and has oversized sliding glass doors that open to the patio to bring the outdoors in; yet another way to enjoy the beautiful Arizona weather. The kitchen and family room are a great place to gather in front of the gas fireplace for the game on TV or open the sliding glass doors that lead to the incredible and expansive outdoor patio to enjoy your views and to look at out your horses in the turn outs and barn. The kitchen contains a 64 inch gas Wolfe stove that has six burners, a French griddle and has a full-size double oven. You'll also find an additional built-in electric oven, a built-in subzero refrigerator, RO system, and granite countertops. The master suite is a retreat of its own. With a gas fireplace, views of the mountains and its own exit to the expansive patio or private courtyard, you can find a sense of refuge with this split floor plan. The master bath has a Jacuzzi type bathtub, double sinks, and walk in shower that also can enclose into a steam room. Additionally it has a massive custom closet plus a separate storage area and drawers. The junior master suite has new flooring, oversized closet and newly remodeled bathroom. Across the hall is the giant office with custom built ins or can be converted to an additional bedroom. Next to the office is a separate media room with projector TV and surround sound to watch the big game or a favorite block buster movie. Furthermore there is an oversized laundry room with plenty of counter space and storage and another small bedroom with a bonus area that currently has a temperature controlled wine room. Not only is there a two car garage with epoxy flooring and storage attached to the house, there is also a detached 38' x 63' RV garage that has high grade commerical roll up doors with epoxy flooring, large air compressor, separate area with work bench and full wall of cabinets for storage. Additionally, it has a 1/2 bath with a seperate water heater, a spacious loft area for even more storage... and bonus.... Giant exhaust fan to keep cool in the summers. Moving to the back yard, this spectacular property boasts a relaxing space to enjoy the peace and quiet of the Arizona desert. Stepping out from the expansive covered patio with misting system, you can sit and enjoy the glass rock fire pit over looking the mountains. To complete the features of the backyard, there is an artificial grass putting green, your own enclosed garden and a chicken coop. Lastly, not only have brand new screen been installed in the home but 25k in brand new LED lighting has been installed over the entire property and landscaping which makes this estate a complete showcase! Ride right off of your property to access nearly unlimited trail riding on BLM and state trust land, and for roping enthusiasts, it's only 15 minutes to dynamite arena and less than one hour to Wickenburg. Sale includes most furniture, 7 new upgraded TVs and all technology will convey.

5310 E Wonderview Road Phoenix, AZ 85018

$2,895,000
3 Beds
4 Baths
4,160 SqFt
Status Active
MLS # 6743609
Property Type Single Family Residence
Price Type --
Live above it all! Nestled on an expansive acre lot on Camelback Mountain, this stunning property offers a serene desert landscape and awe-inspiring mountain views. Living on Camelback Mountain offers a unique lifestyle with access to top hiking trails, breathtaking views, and close proximity to upscale shopping and dining in Phoenix and Scottsdale. This home presents a fantastic opportunity to customize and enhance its features with cosmetic upgrades, allowing you to infuse your personal style and transform this house into your dream home. Embrace the chance to create a luxurious haven with unbelievable views in one of Phoenix's most prestigious areas.

9801 N 53rd Place Paradise Valley, AZ 85253

$2,895,000
6 Beds
7 Baths
6,809 SqFt
Status Active Under Contract
MLS # 6755031
Property Type Single Family Residence
Price Type --
This Paradise Valley Estate has never been on the market and is being sold in As Is condition. This one of a kind home was custom built in 1991 and exhibits many unique qualities including multiple attached guest quarter suites and an indoor swimming pool. Main house is 2 bedrooms + an office. Additional bedrooms are located in multiple attached guest quarters Situated on nearly .8 acres adjacent to Camelback golf course and impeccably maintained, this is a rare opportunity in Paradise Valley.

37224 N 237th Avenue Morristown, AZ 85342

$2,895,000
5 Beds
4.5 Baths
5,865 SqFt
Status Active
MLS # 6700116
Property Type Single Family Residence
Price Type --
Discover unparalleled luxury and versatility on this remarkable 9.88-acre estate, nestled in a prestigious airpark community. Offering the perfect blend of sophistication, comfort, and vast open space, this property caters to both the aviation enthusiast and the horse lover. While direct runway access is available, the real magic lies in the boundless opportunities this estate provides for relaxation, entertainment, and equestrian pursuits. The home itself spans over 5,800 square feet, and each room is crafted with a focus on comfort and detail. As you enter, the warmth of the great room sets the tone for the rest of the home—a space that effortlessly blends elegance with everyday living. The well-appointed chef's kitchen, featuring a premium gas cooktop and custom cabinetry, invites... culinary creativity. Multiple dining areas offer the flexibility to host anything from intimate family breakfasts to grand dinner parties. Carefully curated finishes and thoughtful touches are present throughout, giving the entire home an understated elegance that feels both inviting and luxurious. This home's six bedrooms provide plenty of room for family and guests, each offering a retreat-like atmosphere. The primary suite stands out as a private oasis, complete with its own fireplace and a beautifully designed en suite bathroom. A spa-like soaking tub, walk-in shower, and dual vanities make this space perfect for unwinding after a long day. The additional bedrooms are equally spacious and well-appointed, ensuring comfort for all. Step outside, and you'll find that this property is made for entertaining. The sweeping backyard is your own private resort, featuring a sparkling pool surrounded by manicured landscaping. Imagine hosting summer gatherings herefriends and family relaxing by the pool, enjoying the sunshine, and dining al fresco under the stars. The outdoor kitchen is fully equipped with a professional-grade grill, refrigerator, and everything you need for seamless outdoor entertaining. There's even a private volleyball court for endless fun and a cozy fire pit area for winding down with s'mores and great conversation. Beyond the luxurious home and entertainer's backyard, this estate offers incredible potential for horse enthusiasts. With 4.88 acres zoned for horses, you'll have more than enough room to create your dream equestrian setup. Whether you're envisioning a spacious arena, stables, or other horse facilities, this land is ready to accommodate your vision. Though situated in an airpark community, this estate feels like its own world, offering a unique combination of luxury living and vast open space. Whether you're drawn to the home's elegant design, the endless possibilities for outdoor living and entertaining, or the opportunity to build a horse retreat, this property offers it all. Live the life you've always dreamed of with this estate that truly has something for everyone.

5302 E Mercer Lane Scottsdale, AZ 85254

$2,895,000
5 Beds
5 Baths
5,295 SqFt
Status Active
MLS # 6746339
Property Type Single Family Residence
Price Type --
Welcome to the Magic Zip code of 85254! Perfect family home in esteemed GATED community of La Camarilla Estates. This exceptional home offers 5 spacious bedrooms, 5 baths, and 8 versatile flex spaces perfect for a home office, playroom, or personal gym. Great room with large windows/sliding doors to backyard. Split master includes a newly renovated closet and a workout room/office in addition to an oversized bed and bath with his and hers sink and bath. Memorable kitchen with features such as double dishwasher, Woodmode kitchen cabinets, extra deep drawers, granite, huge island with second sink. New paint, vaulted ceilings, and floor is lovely all the way through! Oversized corner lot with huge wrap-around patio, grassy area, pool and spa for elegant outdoor living. Double washer and dryer. Reversed osmosis water filter, butler's pantry, double oven, Cantera Iron front door, Knotty Alder custom 8 ft interior doors, Pella windows, hardwood floors, hybrid floors, granite galore, storage throughout, covered paver porch, attached guest suite, surround sound audio system, central vacuum system, water softener.

8217 E Del Cadena Drive Scottsdale, AZ 85258

$2,895,000
4 Beds
4.5 Baths
2,783 SqFt
Status Active
MLS # 6765782
Property Type Single Family Residence
Price Type --
*Easy to show - contact listing agent* This beautifully rebuilt McCormick Ranch home, completed in 2024 by a luxury custom builder, is a true gem. The meticulous attention to detail is evident in every corner of this property. Boasting four ensuite bedrooms, including two primary suites in the main house and a two-bedroom guest house, this charming residence has been impeccably reinvented. The renovation spared no expense, featuring stunning wood floors, custom cabinetry throughout, top-of-the-line Wolf and SubZero appliances, exquisite lighting and plumbing fixtures, all-new doors and windows. and bathrooms adorned with impressive tile work. Major enhancements include a new roof, plumbing, electric, HVAC, stucco, paint, landscaping, paver driveway, and garage doors.A large covered patio spanning the length of the home looks out onto sparking pool situated between the main and guest house. Rarely does a home of this caliber come onto the market, it is turnkey, completely redone and ready to move in.

3718 E Sells Drive Phoenix, AZ 85018

$2,895,000
4 Beds
4.5 Baths
4,169 SqFt
Status Active
MLS # 6767565
Property Type Single Family Residence
Price Type --
Community consists of 16 modern semi-custom homes. Walking distance to popular Arcadia lite eateries. Endless builder upgrades and recent additions from current owner. 4 bedrooms, 4.5 baths, air-conditioned 3-car garage. Front entry patio w/sitting area & fireplace. Modern glass front door entry with sidelight. Beautiful engineered wood floors t/o. Great room concept with open kitchen. Large center island. Custom cabinetry, high grade stainless Sub-Zero/Wolf appliances. Granite/stone counters. Large walk-in pantry. Soaring vaulted ceilings at living area w/exposed deco trusses. Upgraded surround sound. Built-in wet bar w/wine fridge. Custom fireplace. French doors off dining space to built-in outdoor barbecue. Lower level primary suite-features separate shower/freestanding soaking tub- -split dual vanity, large walk-in closet with built-ins, and fireplace. There's an additional en-suite downstairs AND guest half bath. Upstairs has 2 additional split en-suites. Massive secondary living space with vaulted ceilings. Office nook with built-ins. Secondary nook with built-cabinets for added storage. Custom light fixtures throughout. Oversized interior laundry with added cabinetry and utility sink. Whole home Savant water purification & water softener. New 5-ton a/c (23). $25,000 interior/exterior camera system. $450k in upgrades from previous owner. Expansive covered patio w/pavers. Heated salt-water play pool with water feature. Custom pergola with above ground jacuzzi. Outdoor fire pit. Easy care front & rear yard. Recently added landscape and upgraded lighting. N/S exposure. Situated at the start of cul-de-sac. Walk or bike to Arcadia's popular restaurants and pubs.

7661 E Solano Drive Scottsdale, AZ 85250

$2,895,000
4 Beds
3.5 Baths
3,961 SqFt
Status Active
MLS # 6751749
Property Type Single Family Residence
Price Type --
This exceptional home, located in the prestigious gated community of Camelot Reserve, offers 3,962 square feet of meticulously renovated living space. Completed in 2023 using non-toxic materials, this home blends modern luxury with thoughtful design. The grand living area features soaring ceilings and an abundance of natural light from large windows, creating a warm and inviting atmosphere. The chef's kitchen is a highlight, featuring sleek quartz countertops, Thermador appliances, custom cabinetry, an instant hot water faucet, and pharmaceutical-grade water filtration. The spacious primary suite provides a private retreat with a spa-like en-suite bathroom that includes a dual vanity, soaking tub, walk-in shower, make-up station and a custom-designed walk-in closet. Three additional bedrooms, all with custom closets, offer generous space for family or guests. Each room is equipped with advanced tech features such as Lutron Caseta light switches, Serena automated shades, CAT5e wired networking, and coaxial connections for next-gen broadcasting. The home's smart water system includes a Moen Flo Smart Monitor for enhanced convenience. This home is built with all living areas and bedrooms on the main level, upper level is a wonderful loft / multipurpose room with full bathroom and large storage closet. Outside, the backyard is a peaceful oasis with a large covered patio perfect for entertaining. A cozy wood-burning fireplace adds charm to outdoor gatherings, while the professionally landscaped yard ensures privacy and beauty. The 3-car tandem garage, with polyaspartic floors, two EV chargers, and durable cabinetry, provides ample storage and convenience. With proximity to top-rated schools, premier shopping, and dining, this home offers a unique blend of luxury, comfort, and convenience in the heart of Scottsdale. Don't miss out on this rare opportunity!

11320 N 106th Street Scottsdale, AZ 85259

$2,895,000
4 Beds
4.5 Baths
4,071 SqFt
Status Active
MLS # 6771028
Property Type Single Family Residence
Price Type --
IF AN OFFER IS NOT ACCEPTED BY 11/24, LISTING WILL BE CANCELLED AND OWNERS WILL MOVE IN SO PLAN ACCORDINGLY. Located in the highly desirable Cactus Corridor neighborhood comes this 4071sf single-story transitional contemporary renovation (w/ no steps,). It offers 4 bedrooms + an office & a game room, 4.5 baths (all ensuite + powder), 3 car garage on a private 1/2-acre lot. With project completion set for November, every aspect of this home will be touched, inside & out, mechanically & cosmetically with no stone unturned. The list is so extensive, that all are described in the listing's docs tab. This stunning remodel rivals any multi-million-dollar home in Scottsdale. Curb appeal is magnificent showcasing all new windows, smooth stucco paint, brick-wrapped columns, paver walkways & widen driveway, & charcoal roof tiled roof. Enter through the oversized iron pivot door and find that walls have been taken down & reconfigured to reveal a spacious modern open floor plan with soaring beamed ceilings. Custom cabinetry w/ panel-ready Thermador appliances make this a dream kitchen. The built-on site fireplace at the heart of the home is a stunning piece of artwork with herringbone brick and a modern shiplap border. Every cabinet, including closets, has been custom-made with either quartzite or quartz counters. The primary suite with custom paint & lighting establishes the mood & the ensuite bath is designed with impeccable taste & functionality. The 3 guest rooms have ensuite baths with their own unique, but blended style. The office is perfectly situated with a tranquil courtyard & water feature. The entire backyard was transformed. All decking was resurfaced with marble pavers & now includes an expansive turf area. Gorgeous deco & waterline tile bordering the pebble-tec diving pool sparkles. Indoor & outdoor access to an oversized game/flex room that has a full-size fridge, microwave & sink. Spacious ramada for dining al fresco with a dedicated BBQ station. Lush greenery and mature landscaping surround the property with easy backyard maintenance. The side yard has space & power to add a double bay garage and/or casita. This home is the epitome of balance between luxury and creature comforts.

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