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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19063 N 265th Avenue Buckeye, AZ 85396

$580,000

2 Beds

2.5 Baths

1,864 SqFt

Status Active

MLS # 6707112

Property Type Single Family Residence

Price Type --

ASSUMABLE 3% FHA MORTGAGE WITH $285,000 DOWNPAYMENT, or fund a second! Get a pool, owned solar, golf and mountain views at a great price. This highly upgraded Sanctuary model with approximately 1,864 sf. has two suites, a half-bath, and a den. The home has a 2-ft. rear extension and 2-ft. extended garage which is air-conditioned. Upgraded Taupe cabinets, dark granite counters and a stainless-steel gas cooktop create contrast and brighten up the living space. An electric fireplace with a framed and tiled mantle, and accent wall paint, complements the hardwood floors in the gathering room. From the pool you can enjoy a view of the White Tank Mountains & the green at the 9th hole on the Mountain Course at Sun City Festival, Arizona's premier 55+ community.

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5132 W Lydia Lane Laveen, AZ 85339

Open House

New

$580,000

5 Beds

4 Baths

2,896 SqFt

Status Active

MLS # 6788167

Property Type Single Family Residence

Price Type --

FORMER Kinkade model over 140k in upgrades! This two-story home features 5 bedrooms and 4 full baths, plenty of room for your needs. The home sits on large, fully landscaped home site, close to playground and walking paths. The spacious open floor plan including large gourmet eat in kitchen, Formal Dining room, Surround sound throughout, Bedroom on 1st floor w/full bath, upstairs loft. The feature list includes hardwood floors downstairs, all new LVP flooring upstairs, slab granite countertop, stainless steel appliances, 12-foot multi slide glass door in Great Room, designer wall treatments, custom subway tile kitchen backsplash, wifi-enabled front and back security cameras. Backyard gate leads to walking and biking trail, no homes behind you. Located within 2 miles of 202 freeway.

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18610 W Alice Avenue Waddell, AZ 85355

Open House

$580,000

3 Beds

2 Baths

2,131 SqFt

Status Active

MLS # 6787167

Property Type Single Family Residence

Price Type --

Owner/Agent. This stunning 3 bed, 2 bath, +den, single story home offers high-end features and a spacious lot with your own desert oasis to enjoy gorgeous MOUNTAIN VIEWS. Located 3 miles from the incredible White Tank Mountain Regional park with extensive Sonoran Desert TRAILS, nature center, and library with picturesque views, you can truly experience the beauty of the southwest only minutes away while still having easy access to Loop 303 freeway, as well as premier entertainment and dining. Featuring a split floorplan with the primary suite tucked away in the back of the home, the open living space includes a great room, kitchen, and dining room overlooking the extended, covered back patio. Low maintenance landscaping, complete with a custom pergola and crystal blue POOL with water features provide the perfect outdoor retreat. The custom RV GATE makes projects from front to back a breeze. Your modern, light and bright kitchen features quartz countertops, pendant lighting, and a large island with farmhouse sink & breakfast bar. You're sure to appreciate the gas cooktop and upgraded cabinets with under and over cabinet lighting and a walk in pantry. Relax in the primary suite with oversized, custom tiled shower, dual vanity/sinks, and a large walk-in closet. Expansive wood look tile flooring compliments most of the home and in the bedrooms, find newly installed luxury carpet with transferable lifetime warranty. Windows throughout have beautiful custom shutters, and the multi-panel 9-foot sliding door has custom shades for full sunlight or privacy when you need it. You'll love the home's ENERGY SAVING features and a healthier and quieter lifestyle. The 3-CAR GARAGE is insulated and complete with a mini split heating/cooling unit, professionally installed for year-round comfort. White Tank Foothills is a short 10 mile drive from the Westgate Entertainment District and 5 miles south of Prasada Shopping and Dining, close to numerous employers, and top-rated schools, including AMERICAN LEADERSHIP ACADEMY less than 2 miles from home. Come see why this is the home you've been looking for!

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10080 E Mountain View Lake Drive Unit 327 Scottsdale, AZ 85258

$579,999

2 Beds

2 Baths

1,152 SqFt

Status Active

MLS # 6749762

Property Type Apartment

Price Type --

Welcome to this Scottsdale Bay Club penthouse condo, recently renovated in 2024 with elegant quartz countertops, soft-close cabinets, sleek tile showers, and luxury vinyl flooring. This end unit offers privacy with no neighbors above and serene pool views from a private balcony. Enjoy direct access to the community pool, clubhouse, and gym. The gated community features a spa, fitness center, recreation room, Koi pond, and boat docks. Located next to Scottsdale Ranch Park, amenities include lighted tennis, racquetball, and sand volleyball courts, plus more. Close to Mercado Shopping Center and the 101 freeway.

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9016 W Tony Court Peoria, AZ 85382

$579,999

4 Beds

2.5 Baths

2,672 SqFt

Status Active

MLS # 6779455

Property Type Single Family Residence

Price Type --

HUGE REDUCTION 40,000... NO HOA NONE.!!!!! .BRING YOUR BOATS AND TRAILERS YOU CAN PARK THEM HERE AT YOUR NEW HOUSE. RV GATE WIDE ENOUGH FOR A PONTOON.THERES A PLAY POOL , HALF BASKETBALL COURT AND A HALF LEMON/ORANGE TREE OUT BACK .INSIDE THE PLACE IS SPOTLESS NEW PAINT,THAT TIES THE GENTLY USED CARPET AND TAUPE AND BROWN TILE TOGETHER DOWNSTAIRS .THERES NEW HARDWARE THROUGH OUT. LIVE IN IT WHILE YOU MAKE THOSE LITTLE TWEEKS .THERES A LIVING ROOM ,DINING COMBO AND GREAT BIG FAMILY ROOM WITH A FIREPLACE .SNUGGLE UP WAITING FOR SANTA .QUARTER BATH DOWNSTAIRS AS WELL. ALL 4 HUGE BEDROOMS AND DEN CAN BE FOUND UPSTAIRS THERE ARE LARGE WALK IN CLOSETS IN THE BEDROOMS.LARGE LINEN,SEPERATE MASTER TUB AND SHOWER. 2YR OLD AC UNITS (2). LOTS OF GARAGE STORAGE..CLEAN CARPETS DOWN.ALLOWANCE UPSTAI

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3028 E Friess Drive Phoenix, AZ 85032

$579,995

3 Beds

2.5 Baths

2,032 SqFt

Status Active

MLS # 6755440

Property Type Single Family Residence

Price Type --

-HOA- GREAT LOCATION. This home is located in a highly desirable neighborhood that offers numerous amenities for its residents. 3 bedrooms 2 &1/2 baths and a loft that opens to a balcony with views of a spacious yard and pebble tec pool. The North/South exposure provides ample natural light, and the home boasts a large family room with a fireplace, separate living and dining areas, and a kitchen with big windows and NEW appliances! The balcony has recently been updated with a new coating. The backyard is perfect for play, with a grass area, covered patio, and a beautiful pebble tec pool. Conveniently located near the 51 and 101 freeways, this home has NO HOA and is a short walk from the highly acclaimed Great Hearts Public Charter School K-12.

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4387 N 203rd Avenue Buckeye, AZ 85396

$579,990

2 Beds

2 Baths

1,670 SqFt

Status Active

MLS # 6786187

Property Type Single Family Residence

Price Type --

Welcome to your dream home in Victory at Verrado! The spacious Bernstein floorplan greets you with a grand 12-foot entry and 10-foot ceilings throughout. The kitchen shines with white stacked glass cabinets, Quartz counters, a subway tile backsplash, a large island, and GE Profile stainless steel appliances, including a wall oven. Entertain in the coffered-ceiling great room, dining area, or on the covered patio for seamless indoor-outdoor living. The private home office offers a quiet retreat, while the luxurious primary suite boasts a spa-like bath, a large shower with a bench, and a walk-in closet. Additional highlights include pendant lighting, ceiling fans, window blinds, and owned solar. Perfect for your vibrant lifestyle! Up to $20K can be applied towards closing cost OR short / long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

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22685 E Saddle Way Queen Creek, AZ 85142

$579,990

3 Beds

2.5 Baths

2,506 SqFt

Status Active

MLS # 6740903

Property Type Single Family Residence

Price Type --

**This is a TO-BE-BUILT LISTING, this home is ready for personalization and can be built on your choice of homesite. This is an advertisement of our base price for this elevation and lot premiums may apply** Welcome to Ashton Woods newest community in Queen Creek - Madera Marquis - which features outstanding community amenities and convenient access to the 24 freeway and shopping. The open concept Topaz plan is highly sought after and is the decorated model floorplan with 3 bedrooms and 2.5 baths. Options for structural upgrades include adding a butler's pantry, teen room, 12'' sliding glass door and so much more. This home includes an open concept kitchen with granite countertops, 42'' upper cabinets, and stainless steel appliances . Amazing spa like primary suite with dual vanities, ample linen storage and separate tub and shower. This floorplan is accompanied by an oversized den and sizable secondary bedrooms. This home comes standard with 10' ceilings, front yard landscaping, paver driveway, and much more! ~There is a minimum option spend requirement on new build homes, please reach out to the sales office for additional details.~

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32405 N 122nd Lane Peoria, AZ 85383

$579,990

4 Beds

3 Baths

2,373 SqFt

Status Active

MLS # 6748747

Property Type Single Family Residence

Price Type --

MLS#6748747~January Completion! The Erikson floor plan at Mystic Discovery exemplifies open concept living and is perfect for entertaining on both floors! The first floor is the heart of the home, with an open main living area that holds a spacious gathering room with a casual dining area and an open kitchen. The designer kitchen features a large island and step-in pantry. A downstairs guest bedroom is located at the front of the home which is perfect for overnight guests. Upstairs, the owner's suite features a garden tub and shower and a spacious walk-in closet. A loft and two additional bedrooms and the laundry room round out this lovely home. Structural options include: paver front porch, 2' garage extension, super shower at owner's bath, and soft water loop.

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16728 W Saguaro Park Lane Surprise, AZ 85387

$579,990

3 Beds

2.5 Baths

2,529 SqFt

Status Active

MLS # 6770954

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender. The Parklane floor plan offers 3 bedrooms, 2.5 baths, a 4' garage extension, no-step walk-in shower, and 8' interior doors. Additional highlights include built-in appliances, quartz kitchen countertops, a gas stub in the kitchen, a backyard perfect for BBQs, and a gas dryer connection in the laundry.

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16405 W Desert Mirage Drive Surprise, AZ 85388

$579,990

4 Beds

3 Baths

2,623 SqFt

Status Active

MLS # 6754285

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! It's the stunning Topaz with 4 bedrooms + study and 3 full baths. Multi slide door off the great room that leads out to the extended covered patio. Stainless steel gas appliance package with 30'' cooktop, wall oven, micro, and hood. Barnett Maple ''Boulder-(Gray) cabinets with 42'' kitchen uppers, pull out trash drawer with two bins. AZT Hana Sky quartz countertops in kitchen and at the enhanced kitchen tops. Stainless steel under mount single bowl sink in the kitchen. DT Broxburn Gray 6x24 plank floor with 5'' baseboards and 3 1/4'' door casings. 8' garage door with two remotes and so much more. Please verify all information with onsite agent. Thank you!

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16421 W Desert Mirage Drive Surprise, AZ 85388

$579,990

3 Beds

3 Baths

2,224 SqFt

Status Active

MLS # 6784421

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! Crimson floor plan sitting on a lot that is north/south exposure and backs to landscape area - NO two story homes on either side. Great room concept with 3 bedrooms + den with 2.5 baths and a 3 car garage. Paver drive, walk and entry. Extended covered patio perfect for entertaining. Bay window at owner's suite. Sonoma Maple Linen-off white cabinets with matte black hardware, 42'' kitchen uppers and a pull out trash drawer. Stainless steel gas appliance package with a 30'' cooktop, wall oven, micro and hood. AZT Quartz tawny countertops in kitchen and all baths except powder bath. Upgrade flooring includes Beaumont Olmo 7x24 plank tile in all areas of the home except bedrooms and closets and so much more. Please verify all information with onsite agent. Thank you!

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