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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17052 N 36th Court Phoenix, AZ 85032

$580,000

4 Beds

2 Baths

2,018 SqFt

Status Active

MLS # 6756073

Property Type Single Family Residence

Price Type --

2 master bedrooms. HUGE lot, 1/3 of an acre! So much more opportunity with this property. No HOA. Cul-de-sac. RV gate. Pool just re-plastered! 4 bedrooms, 2 bathrooms. Double master suites. 2 huge walk-in closets in master suite. Master bathroom upgraded with new shower tile. New floors throughout. The entire house painted inside and out. New quartz countertops in the kitchen. Two large living areas, great space for entertaining and gathering. A must see home!

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4344 E Granada Road Phoenix, AZ 85008

$580,000

3 Beds

2.5 Baths

2,108 SqFt

Status Active

MLS # 6754410

Property Type Townhouse

Price Type --

This home is a must see! Well appointed townhouse in gated community in high demand area. Built in 2022 by D.R. Horton. Incredible location, just a 10 minute Uber to Sky Harbor Airport. Easy freeway access and close to everything Arcadia, Biltmore, Tempe, Scottsdale and Downtown Phoenix have to offer. 70 walk score and 89 bike score! This is a spacious home with a large loft. It's the largest model offered in the community at 2108 sq ft, featuring 3 bedrooms, 2.5 bathrooms, office and a loft. Tall 10' ceilings and 8' doors. 2 car private garage. Only 2 doors away from a nice community pool. Makes an excellent ''lock and leave'' house with the gated entrance and low maintenance backyard landscaping (artificial turf and pavers)

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12520 E Crystal Forest -- Gold Canyon, AZ 85118

$580,000

4 Beds

3.5 Baths

2,464 SqFt

Status Active

MLS # 6756661

Property Type Single Family Residence

Price Type --

You'll LOVE this beautiful home in Peralta Canyon! Providing 4 beds, 3.5 baths, 2-car garage, & a low-care landscape. Just off the front entry is the versatile den! Continue onto the spacious open layout paired with elegant light fixtures, tile flooring, designer paint, abundant natural light, and multi-sliding doors to the back. The gourmet kitchen boasts sleek SS appliances, quartz counters, mosaic tile backsplash, ample espresso cabinetry, a walk-in pantry, and a prep island w/breakfast bar. Berber carpet in the bedrooms! Primary bedroom has an ensuite with two vanities & a walk-in closet. One other bedroom also includes its own bathroom. Discover the charming backyard, offering a covered patio, well-laid pavers, artificial turf, & a fireplace area w/built-in seats.

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4386 E Selena Drive Phoenix, AZ 85050

$580,000

3 Beds

2.5 Baths

2,171 SqFt

Status Active

MLS # 6758795

Property Type Single Family Residence

Price Type --

HUGE PRICE REDUCTION!! This beautiful 3-bedroom, 2.5-bathroom home boasts a bright, open layout. As you enter, you're greeted by a spacious living area that flows seamlessly into the dining and kitchen spaces perfect for entertaining. Upstairs, you'll find three generously sized bedrooms, along with a large flex room—perfect for a home office, playroom, or additional living space. The primary suite is split and offers a private retreat with an ensuite bath and walk-in closet. Located on a picturesque, tree-lined street, the curb appeal is undeniable. The patio is a private oasis, ideal for outdoor dining or simply enjoying the Arizona sunshine. Easy access to local schools, parks, and shopping, don't miss out on this North Phoenix Gem!

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1618 W Maplewood Street Chandler, AZ 85286

$580,000

3 Beds

2 Baths

1,647 SqFt

Status Active

MLS # 6760343

Property Type Single Family Residence

Price Type --

Location, Location, Location! Nestled in the prestigious Pecos Ranch in the heart of Chandler, near the Price Corridor and its high-tech companies, this expansive waterfront lot is perfectly situated right by a community park, offering stunning views and direct lake access—ideal for all your favorite water sports and leisure activities. This breathtaking single-level home has been recently remodeled, boasting luxury Vinyl flooring, freshly painted neutral walls, modern quartz kitchen countertops, and contemporary lighting fixtures throughout. French doors in the family room and large windows in the kitchen frame the serene lake views, creating a tranquil living environment. The master bedroom features an en-suite bathroom with direct access to the backyard, perfect for enjoying the peaceful outdoors. With proximity to major freeways like the 101, 202, 60, and I-10, this home offers unparalleled access to Chandler's best schools, top-rated hospitals, and main shopping destinations, including Costco and Chandler Fashion Center. Discover the ease of urban living in a suburban paradise.

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3942 E Cat Balue Drive Phoenix, AZ 85050

$580,000

3 Beds

2.5 Baths

1,583 SqFt

Status Active

MLS # 6772422

Property Type Single Family Residence

Price Type --

LOCATION LOCATION LOCATION Discover modern living in this beautifully updated 3-bedroom, 2.5-bathroom patio home nestled in the sought-after Fireside at Desert Ridge gated community. Step inside to an inviting open floor plan, featuring california shutters, plank tile flooring and an updated kitchen with white cabinetry throughout the home, beautiful quartz counter tops, a farmhouse sink and newer black stainless steel appliances including a gas stove! The primary bedroom features a walk in closet and remodeled walk in shower. Bedroom 2 and 3 are split in close proximity to a full bathroom and brand new carpet throughout the second floor. The cozy outdoor patio is designed for easy maintenance and offers a great space for relaxing or entertaining. Fireside at Desert Ridge community provides residents with access to resort-style amenities including a fitness center, tennis courts, basketball courts, Pickelball courts, resort style pool, lap pool, and scenic walking trails. Conveniently located near top-rated schools, parks, and the Desert Ridge Marketplace for dining and shopping, this updated patio home is move-in ready and waiting for you!

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22456 E Via Del Verde -- Queen Creek, AZ 85142

$580,000

3 Beds

2 Baths

2,202 SqFt

Status Active

MLS # 6767389

Property Type Single Family Residence

Price Type --

Hidden gem with 2 dens (home office!) plus the 3 BR's, private pool, tons of garage storage, driveway extension, easy maintenance yard, & gourmet kitchen! The resort style pool has a Baja shelf to relax, travertine, & turf next to the oversized covered patio. Inside has beautiful modern tile, KitchenAid SS appliances, large pantry w/ custom door, 42'' staggered cabinets, & granite eat in island. The large primary has an ensuite with 2 sinks + walk-in shower. Guests will love the Jack-&-Jill bathroom with separate door to shower/tub for privacy. The huge laundry room w/ cabinets has plenty of room for 2nd frig or freezer. Epoxy garage w/ H20 Softener & cabinets is a dream! Exterior painted in 2020. You'll love the community w/ parks, trails, pool, splash pad, garden, volleyball, & more!

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951 N 165th Avenue Goodyear, AZ 85338

$580,000

4 Beds

3 Baths

3,106 SqFt

Status Active

MLS # 6766084

Property Type Single Family Residence

Price Type --

Welcome to this ideally located home, nestled next to expansive open space with no neighbors behind or to the side. Enjoy spacious living areas, including a kitchen and family room that offer stunning views of the backyard oasis. The oversized custom pool features a rock waterfall and slide, with ample space for lounging and entertaining. The outdoor area also boasts a built-in BBQ island, a covered patio, and wide side yards. Inside, there's a downstairs den with a full bathroom, while upstairs you'll find three bedrooms and a generously sized primary suite. The three-car garage comes complete with built-in cabinetry, and the home is equipped with OWNED SOLAR!

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27386 W Osprey Drive Buckeye, AZ 85396

$580,000

2 Beds

2.5 Baths

2,557 SqFt

Status Active Under Contract

MLS # 6739338

Property Type Single Family Residence

Price Type --

Why wait to build when you can make this stunning nearly new JOURNEY model yours today! This elegantly appointed 2,557 sqft, 2 beds, 2.5 bath, Den with French doors, Flex space, Great room, charming Courtyard & Golf cart garage home will not disappoint. The Kitchen is an entertainers delight with Granite countertops, sleek back splash, Gas cooktop with DOUBLE ovens, Soft close drawers, Pull out Shelves, Reverse Osmosis, magnificent Executive Island perfect for storing all of the small kitchen appliances and gathering loved ones or friends. Wooden shutters throughout & Media wall in the Great room. Owner's suite bathroom with its modern Tile Walk-in shower, Double sinks & Granite counters. Private walled lot, Extended Travertine Patio, Built-in gas BBQ & low maintenance Turf. See it today!

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17106 E La Pasada Drive Fountain Hills, AZ 85268

$580,000

4 Beds

2 Baths

1,522 SqFt

Status Active Under Contract

MLS # 6748601

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This exquisite 4-bdrm residence w/den is situated on a spacious lot in the highly sought-after Fountain Hills community. Every inch of this home has been thoughtfully remodeled to offer the perfect blend of modern luxury & timeless charm. Enjoy 4 generously sized bedrooms plus a versatile den, ideal for a hm office/additional living space. Experience contemporary living with high-end finishes, sleek fixtures, and a state-of-the-art kitchen. The large lot provides ample space for outdoor entertaining, gardening, or simply relaxing; endless possibilities! Nestled in a tranquil neighborhood w/ access to all the amenities that Fountain Hills has to offer, including seasonal art/wine festivals, Fountain park, dining and the iconic Fountain.

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2438 W Clearview Trail Phoenix, AZ 85086

$580,000

3 Beds

2 Baths

2,338 SqFt

Status Active

MLS # 6762744

Property Type Single Family Residence

Price Type --

**SELLER HAS 4.99% CONVENTIONAL LOAN THAT IS ASSUMABLE** Home, sweet home! This 3-bedroom, 2-bath residence features a 2-car garage and eye-catching stone accents. Discover a spacious living/dining room with 10' ceilings, a soothing palette, classic plantation shutters, sunscreens, recessed lighting, and a blend of wood-look and tile flooring. The kitchen comes with abundant wood cabinetry with crown moulding, stainless steel appliances, a handy pantry, and a two-tier peninsula with a breakfast bar for casual dining. You'll also find a versatile bonus room perfect for an office, lounge, or play area. The cozy main bedroom is complete with soft carpeting, an ensuite with dual sinks, and a convenient walk-in closet. The enchanting backyard includes a covered patio, pristine artificial turf, and a sparkling pool, built by Presidential Pools, for cooling down on hot days. Make this yours! Whole home water filtration system installed in 2021

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2101 N Normal Avenue Tempe, AZ 85288

$580,000

3 Beds

2 Baths

1,513 SqFt

Status Active

MLS # 6753795

Property Type Single Family Residence

Price Type --

Newly remodeled home with fresh interior paint and new front landscaping!Fresh blue exterior paint, dual pane windows, and recent plumbing and electrical updates.Beautiful wood flooring throughout the home, recessed lighting, barn doors, and TWO entertainment rooms await you inside. Large shaker cabinets w/crown molding, granite counters, stainless steel appliances, custom tile backsplash, & a center island w/breakfast bar. The covered patio and fire-pit is the ideal place for all your gatherings under the vast Arizona sky. Located in a quiet neighborhood just minutes from Old Town Scottsdale, ASU, the Entertainment District! This property qualifies for 1% lender credits available to a qualified buyer! If not already working with another lender, please see the lender flyer in docs tab f

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