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
15512 E Desert Hawk Trail
Fountain Hills, AZ 85268
$2,850,000
4
Beds
6.5
Baths
5,582
SqFt
Status
Active
MLS #
6765753
Property Type
Single Family Residence
Price Type
--
Welcome to this stunning Firerock home, where luxury and comfort converge. Designed for seamless living, this gem lives like a single level and boasts a lower walk-out level with a game room, wine room, and a private movie theater. The great room, adorned with an automatic slider, opens to an enormous covered balcony—perfect for indoor/outdoor entertaining. A Cantera fireplace with fire crystals adds warmth and elegance. The heart of the home is the gourmet kitchen, featuring not one but two kitchen islands and top-of-the-line Viking appliances. All bedrooms are en-suite, ensuring privacy and convenience. Additional highlights include a separate casita, a cutting-edge Lutron automated lighting system, custom drapery, and exterior sensor shades. Movie enthusiasts will appreciate the dedicated theater room, while an elevator adds practicality. Step outside to the resort-style backyard, complete with a spacious covered balcony, large patio, and two built-in BBQ areas. The pool, spill-over spa, water feature, and fire pots create an oasis for relaxation. Plus, this home is equipped with four new HVAC units and a brand-new tile roof backed by a 40-year transferable warranty.
2112 Forest Mountain Road
Prescott, AZ 86303
$2,850,000
5
Beds
5.5
Baths
6,019
SqFt
Status
Active
MLS #
6690696
Property Type
Single Family Residence
Price Type
--
Stunning and serene home in the luxurious community of Hassayampa Village. This extraordinary property will captivate you upon your arrival! Gorgeous gourmet chefs kitchen featuring an Earthstone pizza oven, built-in Miele coffee machine, ample cabinets and countertops. Family room space is cozy with uniquely designed fireplace. Living room architecture commands attention with its soaring ceiling, wall of windows, hardwood floors and breathtaking views of Thumb Butte. Main deck just off living room is a phenomenal spot for dining and stargazing. Master suite has remarkable fireplace, wet bar, dual vanities and closets, garden tub, and large shower. Step out onto you private deck with spa, fireplace and incredible views. Office/den, laundry room and 2nd full bath on same level as master. Lower level features 2 bedrooms- 1 ensuite, steam shower bathroom, dry sauna, wet bar, Cinema style theatre room, wine cellar and additional stackable washer/dryer closet. Large loft consists of wet bar and great view overlooking the living room, a cozy 4th bedroom with fireplace and bathroom. The office/den does make this easily a 5 bedroom home if space is needed (closet in pictures). 3 car garage, 4 outdoor entertaining spaces, 3 fireplaces as well as a fire pit off family room patio that puts you right in touch with nature! New lower deck addition with brand new Endless X500 swim spa (Completed April 2024). This sensational home not only offers unmatched luxury but was originally designed as a corporate retreat!
6214 E Calle Rosa --
Scottsdale, AZ 85251
$2,850,000
5
Beds
3
Baths
3,224
SqFt
Status
Active
MLS #
6780956
Property Type
Single Family Residence
Price Type
--
Immaculately maintained Arcadia charmer. Remodeled in 2018. Light and bright throughout. Split floor plan with large master closet. 4 additional bedrooms and 2 bathrooms on kids wing. French doors open to large backyard with pool, plenty of grass for kids and no overhead power lines. Front patio adds perfect area for Arcadia neighborhood living. Additional golf cart parking on side of home. Located in a darling cul de sac and ready for the next family to enjoy!
10662 E Mark Lane
Scottsdale, AZ 85262
$2,850,000
4
Beds
4.5
Baths
4,266
SqFt
Status
Active Under Contract
MLS #
6756792
Property Type
Single Family Residence
Price Type
--
ONE OF A KIND custom Home situated on a premium .82 ACRE lot PERCHED above the Troon Monument GOLF COURSE in GATED Pinnacle Canyon. Enjoy BREATHTAKING VIEWS of the course & mountain vistas! The Wonderful SPLIT Floorplan boasts a Large Primary Retreat, all ENSUITE BEDROOMS, an EXECUTIVE OFFICE & a DETACHED 1/1 CASITA! The thoughtful design features 12-foot ceilings paired w/ expansive picture windows, elegant formal living & dining rooms, spacious great room, a chic wet bar & cozy fireplace to create the ideal setting for both everyday living & upscale entertaining. The grand kitchen includes double ovens, butlers pantry, Kitchen island w/ breakfast bar & an abundance of cabinets! Relax in the backyard oasis by the pool, spa, tranquil water feature, fireplace or firepit! BRAND NEW Roof!
750 Rhapsody Road
Sedona, AZ 86336
$2,850,000
4
Beds
4
Baths
4,125
SqFt
Status
Active
MLS #
6734090
Property Type
Single Family Residence
Price Type
--
SWEEPING 360 VIEWS OF SEDONA from three levels! Tucked into the forest on two sides & overlooking all of Sedona West from Jerome to Cathedral & Bell Rock South, all across Sedona to Mogollon Rim & Sedona's uptown rock monoliths as the town gives way to Oak Creek Canyon! In addition, an office & artist studio are included in the 4,125 sq ft. The home is the crown jewel on Eagle Rock in highly sought-after West Sedona. Dawn to dusk nature entertains as the legendary Sedona red rocks turn incredible colors of pink, orange & magenta as sun & shadows migrate the landscape. Every room offers natural light & rooms wrapped in views w/decks to extend the experience outside. The kitchen is generous in size with polished granite counters, see supplement.. stone backsplash, wine fridge & stainless appliances, a breakfast bar & great room dining. A 21'x27' deck off the great room offers a dining space, hot tub, firepit & lounge area. The cozy primary bedroom features beautiful tiger wood flooring, complemented by a private patio with access to the national forest. Wake up to the breathtaking views of stunning red rocks in this inviting love nest. The bath reveals a glass surround shower & soaking tub with a view! Cabinetry is topped with dual vanities and polished solid granite counters. Guest rooms, including a second master suite with a private patio, are located for privacy. The top-level room, a 569 sq. ft. sunroom/art studio, is wrapped in forever views and has a deck overlooking forestry & red rock wonders. Outdoor enthusiasts with revel in the easy access to premier hiking trails like Sugarloaf, Thunder Mountain, and Soldier's Pass. 2-car garage is long, providing workspace. Low maintenance, lock & leave property with security system. From EVERY ANGLE of the outdoor space, your eyes are thrilled by red rocks! Never before offered & sure to sell quickly.
5630 E Peak View Road
Cave Creek, AZ 85331
$2,850,000
6
Beds
5
Baths
6,100
SqFt
Status
Active
MLS #
6763805
Property Type
Single Family Residence
Price Type
--
Nestled on a picturesque acre lot in Cave Creek, Arizona, on a desirable county island bordering Scottsdale, this stunning estate is a rare gem. With paved roads and ultimate privacy, the home features an unparalleled resort-style backyard, including a full-size regulation Pickle-ball court, a luxurious swimming pool, a commercial-grade outdoor kitchen, and beautifully designed putting and chipping greens. The outdoor living space is enhanced with artificial turf, a lush garden, and a spacious patio complete with a misting system and heat for year-round enjoyment.Inside, the home boasts a celebrity-style master bedroom with a custom-designed closet, offering pure luxury and relaxation. With six spacious bedrooms and five bathrooms, the home includes walkout patios and a dream kitchen perfect for entertaining. The patio's sliding glass enclosure allows you to seamlessly enjoy Arizona's beautiful weather, keeping it open when cool or fully air-conditioned during warmer months. This extraordinary home, unlike anything on the market, offers a blend of luxury, comfort, and innovation rarely found in Arizona.
6332 E Calle Del Paisano --
Scottsdale, AZ 85251
$2,850,000
4
Beds
3.5
Baths
3,565
SqFt
Status
Active
MLS #
6774778
Property Type
Single Family Residence
Price Type
--
This Spectacular Beautiful Custom home in the heart of Arcadia on a large Premium Lot is the epitome of comfort & style with High-Quality finishes. Meticulously maintained, this move-in-ready estate has a chef's kitchen, a culinary dream, features a subzero fridge/freezer, a Wolfe 8-burner gas cooktop, a double oven, & a Butler Pantry, a large exquisite marble island with ample storage. The open, spacious floor plan, bathed in natural light, is accentuated by high ceilings, offering an inviting atmosphere for seamless living. This home has 4 large bedrooms & three ensuites, which ensures ultimate privacy and relaxation. The backyard oasis is an entertainer's Private paradise, with a heated pool, outdoor fireplace, Built-in BBQ, & cozy pergola TV area on the elegant brick patio. Must See Set on a large, private lot with a 3-car garage, this luxurious haven is perfectly located moments from Arizona's finest shopping, dining, and entertainment. Don't miss your chance to experience Arcadia's premier lifestyle!
10249 E Joy Ranch Road
Scottsdale, AZ 85262
$2,850,000
3
Beds
5
Baths
3,850
SqFt
Status
Active
MLS #
6734554
Property Type
Single Family Residence
Price Type
--
Discover this contemporary masterpiece, a meticulously crafted 3-bedroom, 5-bathroom home. Upon entry, floor-to-ceiling glass doors invite you into a space defined by modern elegance. Entertain effortlessly with a built-in wet bar featuring a wine fridge, complemented by a double waterfall kitchen island, White Oak cabinets, and concrete countertops. The kitchen seamlessly flows into the main living area, where natural light enhances the sleek design. Storage is abundant with a walk-in pantry adorned with custom cabinets and shelves, while each bedroom boasts its own walk-in closet with built-in cabinetry. A dedicated office space doubles as an additional bedroom, ensuring versatility. Integrated speakers in every room enhance the ambiance, while the master suite offers a retreat-like experience with a massive walk-in closet, a separate shower, and a unique standalone tub. Floor-to-ceiling sliding glass walls provide direct access to the backyard from the master bath, merging indoor and outdoor living. Step outside to discover a Pebble Tech pool and a convenient pool bathroom, perfect for entertaining and relaxation. Every detail of this home is custom-made, promising luxury and comfort in every corner.
12037 E Yucca Street
Scottsdale, AZ 85259
$2,850,000
5
Beds
3.5
Baths
4,615
SqFt
Status
Active
MLS #
6781594
Property Type
Single Family Residence
Price Type
--
Nestled in the McDowell Mountain foothills, this luxury remodel has all of the contemporary colors and finishes the discerning buyer is looking for in their new home. The exclusive 10-home gated subdivision is the setting for a small town community feel, yet is close to schools, parks, golf courses, hiking trails, shopping, entertainment and more. From the real wood floors to the backlit cooled wine wall, no feature was overlooked in the home. The backyard will be the perfect gathering space for outdoor entertaining, and the large retractable sliders easily transition from the inside to the outside, increasing the family room area to encompass the great outdoors. This is your dream home in the Sonoran Desert!
29906 N Miradar Court
Scottsdale, AZ 85262
$2,850,000
4
Beds
5
Baths
5,684
SqFt
Status
Active
MLS #
6663581
Property Type
Single Family Residence
Price Type
--
Spectacular luxury living in this meticulously designed Spanish Ranch home, nestled in Granite Mountain Ranch with a real sense of privacy and space. Gorgeous Four Peaks mountain view estate is on 2.1 acres located at the end of a large cul-de-sac. The property's circular driveway and stone gate house create a grand entrance with a fountain and gas fireplace that welcomes guests with a sense of luxury and prestige. An architectural masterpiece, this four-bedroom custom home with attached casita was originally crafted for the architect himself, and exudes sophistication and attention to detail at every turn. The interior is captivating with elegance and warmth, and has four distinct shapes of large tumbled travertine, laid in a Versailles pattern throughout main living areas, extending gracefully to the outdoors. Pillars and niches adorned with ambient lighting create a timeless look. Main living area has amazing views to the outdoors with a massive cantera stone gas fireplace. The kitchen is a chef's delight, equipped with a warming drawer, appliance garage, a new ASKO dishwasher and a huge center island with granite slab countertops. The Wolf built-in cooktop and oven are propane gas and the range hood is accentuated with faux painting. The SubZero double refrigerator and two dishwashers ensure efficiency. The separate bar seats five and is granite-topped with ice maker and wine chiller. This residence is a showcase of thoughtful features, including a central vacuum system, four AC zones, an AV closet and a beautiful powder room. The den, complete with wood-beamed ceilings offers versatility with its closet, potentially transforming it into a bedroom. A four-car garage with epoxy floors and a spacious in-garage storage room. The utility closets house a water softener, 4 HVAC air handlers, and two hot water heaters. The primary suite on the same side as the den invites tranquility, with wood flooring, knotty alder cabinets and doors, and a gas fireplace. The primary bath is a spa-like retreat, featuring a coffee bar with built-in SubZero refrigerator, jetted soaking tub, separate closets with custom built-ins, and an indulgent six-shower head experience. Enjoy the breathtaking view of Four Peaks from the primary bathroom, complemented by a travertine outdoor shower. Your visitors will love the guest amenities, with two spacious guest suites on the opposite side of home with private baths and large walk-in closets. A 400 sq ft casita with a kitchenette, SubZero fridge, walk-in closet, and full bathroom provides your guests a private retreat. Technology seamlessly integrates with luxury in this property, with Control 4 system, managing 4 outdoor security cameras, music with in-ceiling speakers throughout the house and back patio, weather, and six mounted TVs which convey to the buyer. A formal dining room with a bricked ceiling and double doors opening to the front courtyard sets the stage for intimate gatherings around the gas fireplace and courtyard fountain. The outdoor space is an entertainer's dream. The backyard oasis offers unobstructed Four Peaks and Matzatzal mountain views, with a Jacuzzi and pool that can be controlled from inside the home. Owned solar system heats the pool for extended enjoyment in the fall and spring. A built-in grill and bar, wood-burning fireplace and firepit complete the entertainment amenities. If buyer is interested, homeowner has an additional adjacent lot for sale or see MLS listing 6611364 which includes both lots. Granite Mountain Ranch is the only gated equestrian community in Scottsdale where each homeowner can have up to 4 horses per lot. It has 100 home sites spread across 315 acres, 15 acres of equestrian facilities including 2 large arenas and 2 round pens, paved and lighted streets, underground utilities and a private water resource. It's adjacent to the McDowell Sonoran Preserve. You'll have easy access to unlimited riding trails, hiking, biking & fishing. Within a 10-to-30 minute drive are many of Arizona's top golf courses.
4335 N Morning Dove Circle
Mesa, AZ 85207
$2,849,000
5
Beds
4
Baths
4,635
SqFt
Status
Active
MLS #
6759191
Property Type
Single Family Residence
Price Type
--
Stunning estate in prime location backing to the Tonto National forest in the prestigious gated community of Hidden Canyon in Las Sendas. Cul-de-sac lot on .88 +/- acre. Extensive remodel just completed in 2024 with no detail spared. Click on the documents tab for detailed amenity list. Single level, great room concept with 5 bedrooms and 4 baths. Gourmet kitchen with beautiful custom walnut cabinetry, stunning granite countertop, stainless steel appliances, full size fridge and freezer, additional wine/beverage fridge, dual sinks and so much more. Solid walnut interior doors throughout. Spacious laundry with additional fridge and lots of additional cabinetry and storage. Large outdoor covered patio with ceiling heaters, sparkling heated pool and spa, BBQ center, fire pit and view deck.
37200 N Cave Creek Road Unit 1014
Scottsdale, AZ 85262
$2,844,437
3
Beds
3.5
Baths
3,425
SqFt
Status
Active
MLS #
6716311
Property Type
Single Family Residence
Price Type
--
**MEMBERSHIP AVAILABLE - CONTACT FOR DETAILS** WELCOME TO THE VILLAGE AT SEVEN DESERT MOUNTAIN! BUILT BY THE AWARD-WINNING CULLUM HOMES, THESE DISTINCTIVE ''LOCK-N-LEAVE'' RESIDENCES ON ALL 33 LOTS EITHER BACK UP TO THE 13TH HOLE OF THE RENEGADE GOLF COURSE, OR THE 10TH AND 11TH HOLE OF THE SEVEN DESERT MOUNTAIN® GOLF COURSE. CHOOSE FROM FOUR DIFFERENT BASE FLOOR PLANS, WITH SINGLE AND TWO-LEVEL OPTIONS AVAILABLE, AS WELL AS THE OPTION TO ADD A ''19TH HOLE'' BASEMENT ENTERTAINMENT ZONE COMPLETE WITH INDOOR GOLF SIMULATOR, GLASS-ENCLOSED COLLECTOR CAR SHOWROOM, THEATER, WET BAR AND OTHER AMENITIES. THIS MESQUITE FLOOR PLAN, IS A SINGLE-LEVEL HOME WITH LIVABLE SQUARE FOOTAGE AT 3425 SF, FEATURES 3 BEDROOMS AND 3.5 BATHROOMS, WITH A 3-CAR GARAGE. SPACIOUSLY LAID OUT SPLIT FLOOR PLAN. OPEN GREAT ROOM WITH A MODERN LINEAR-STYLE BUILT-IN FIREPLACE AND GLASS WALLS FOR VIEWS, WITH AN OPTION FOR INDOOR/OUTDOOR POCKET DOORS. FAMILY/GAME ROOM BETWEEN THE TWO GUEST BEDROOMS. FORMAL DINING AREA. KITCHEN AREA WILL HAVE A LARGE CENTER ISLAND WITH EAT-UP BAR SEATING, ALL STAINLESS-STEEL TOP-OF-THE-LINE WOLF SUB ZERO APPLIANCE PACKAGE, WALK-IN PANTRY. OWNERS SUITE WITH A SEPARATE EXIT OUT TO THE BACK YARD, DUAL SINK VANITIES IN THE BATH, SEPARATE SHOWER AND SOAKING TUB, WALK-IN CLOSET WITH BUILT-INS. TWO ADDITIONAL GUEST BEDROOMS, BOTH WITH EN-SUITE BATHS AND WALK-IN CLOSETS. LAUNDRY ROOM WITH EXTRA STORAGE SPACE AND LAUNDRY TUB AND A POWDER ROOM. HOMES ARE EQUIPPED WITH THE LATEST SMART-HOME TECHNOLOGY WITH FULL HOUSE AUTOMATION AVAILABLE. ENERGY EFFICIENT AND LOTS OF HEALTHY HOME FEATURES ALSO INCLUDED. FRONT YARD LANDSCAPING INCLUDED. HOMEOWNERS AT SEVEN DESERT MOUNTAIN WILL BECOME WITHER A LIFESTYLE OR EQUITY GOLF MEMBER AT DESERT MOUNTAIN, GAINING ACCESS TO ITS WORLD-CLASS AMENITIES INCLUDING THE NEWLY RENOVATED SONORAN SPA AND FITNESS CENTER, TENNIS COMPLEX, HIKING AND BIKING TRAILS, SIX ADDITIONAL PRIVATE GOLF COURSE, LUXURIOUS CLUBHOUSES AND RESTAURANTS. COMMUNITY IS GUARD-GATED 24/7 FOR THAT LOCK-N-LEAVE LIFESTYLE ONE SO DESIRES.