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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804 N Wilderness Circle Payson, AZ 85541

$575,000

3 Beds

2 Baths

1,686 SqFt

Status Active

MLS # 6762747

Property Type Single Family Residence

Price Type --

This beautifully maintained and updated home is located in the Woodhill subdivision on a quiet cul-de-sac. The home offers large rooms, a split floor plan, a generous primary suite with an oversized closet, hickory extended cabinets, a breakfast bar, vaulted ceilings, and a large screened covered patio. It has new exterior paint, a new Electric Heat Pump, water heater, primary bathroom shower, beautiful luxury vinyl plank flooring, a roof replaced two years ago, and much more. You do not want to miss out on this perfect place to call your home!

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6063 W Pinon Way Pine, AZ 85544

$575,000

2 Beds

2 Baths

1,200 SqFt

Status Active

MLS # 6765502

Property Type Single Family Residence

Price Type --

Welcome to Pine Creek Canyon at the Portals II nestled in the Ponderosa Pines! The majestic views are breathtaking. This cozy 2 bedroom 2 bath home comes furnished. Extensive paver work recently done makes the entry to the home inviting and gives a fresh updated look. There is a newer AC/Heat Pump as well as a stone fireplace. You will have access to Portal II amenities such as basketball courts, shuffleboard, and tennis courts.

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4429 E Del Rio Drive San Tan Valley, AZ 85140

$575,000

4 Beds

2.5 Baths

3,460 SqFt

Status Active

MLS # 6767453

Property Type Single Family Residence

Price Type --

A beautiful 4 bed, 2.5 bath in Laredo Ranch is now for sale! Nestled on a premium corner lot and boasting great curb appeal, a manicured landscape w/lush natural turf, and a 2 car tandem garage! Come inside to discover spacious dining & living areas w/tile flooring and trending palette throughout. Prepare delicious meals in this chef's kitchen comprised of staggered cabinetry w/crown moulding, granite counters, mosaic tile backsplash, pendant lighting, stainless steel appliances, and an island complete w/a breakfast bar. Upstairs you'll find a sizeable loft w/soft carpet, where you can spend a relaxing Sunday evening! Double doors open up to the primary bedroom, showcasing a mirrored walk-in closet, and a full ensuite w/dual sinks for added comfort. Don't forget about the large media room w/custom coffered ceilings! Lastly, the expansive backyard includes a covered patio, mature shade tree, and a sparkling blue pool! This is sure to be the home you've been looking for, hurry and act now!

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5023 E Desert Forest Trail Cave Creek, AZ 85331

$575,000

3 Beds

2 Baths

1,527 SqFt

Status Active

MLS # 6766899

Property Type Single Family Residence

Price Type --

Discover this modern, open-concept home featuring a spacious 15-foot multi-slider door that seamlessly connects to an extended, private covered patio—perfect for indoor-outdoor living. The gourmet kitchen boasts a large island, 42-inch Timberlake upper cabinets, granite countertops, and Whirlpool stainless steel appliances, ideal for cooking and entertaining. The split-bedroom floor plan offers a private master retreat, complete with 8-foot interior doors and stylish tile flooring throughout. Located near shopping, dining, and the best of Cave Creek living!

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2809 N 70th Street Scottsdale, AZ 85257

$575,000

2 Beds

2 Baths

1,217 SqFt

Status Active

MLS # 6768285

Property Type Single Family Residence

Price Type --

VOTED BEST OUTDOOR SPACE-Scottsdale Tour! Where artistic design and nature combine. Large front and backyard with mature, low maintenance, desert acclimated flowering plants. Tasteful artistic design add to the serenity of the home. New roof, exterior paint, and natural gas heater/AC unit this year. Newer natural gas tankless water heater keeps utility costs to a minimum. Ready to move in and enjoy but plenty of space to add on should you desire.

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1844 W Virginia Avenue Phoenix, AZ 85007

$575,000

3 Beds

2 Baths

1,750 SqFt

Status Active

MLS # 6770895

Property Type Single Family Residence

Price Type --

Charming 3-bed, 2-bath Home backed up to the beautiful Encanto Golf Course, this home offers breathtaking views! With new Anderson windows and a sliding door, plus custom stonework inside and out, this house blends elegance with durability. The AC system is only 2-3 years old and comes with a premium dust-collecting filter, an upgrade valued at $1,250. The kitchen floor is finished with luxurious Colorado stone, New dishwasher and washer ready to go. The property features beautiful landscaping, a large garage that fits both a sedan and a truck. New electrical box. All the fascia and soffits are covered, so you'll never need to repaint. Enjoy energy efficiency with awnings on all windows, and the monthly electric bill is just $168 for this all-electric home. Don't miss this opportunity!!!

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624 Leisure World -- Mesa, AZ 85206

$575,000

3 Beds

2 Baths

2,269 SqFt

Status Active

MLS # 6782156

Property Type Single Family Residence

Price Type --

Beautiful home on the lake. Large open floor plan, lake views from the entrance. Two great patios for entertaining. Large 2 car garage as well as an additional door for your golf cart. Located in a quiet cul-de -sac in a central spot in Leisure World. This community is a safe, fun and clean place to live in full time or for your winter get away. All this in the Premiere Active Adult Community of Leisure World with 36 holes of private golf, new tennis complex, pickle ball, swimming pools, library, state of the art fitness center, theater, arts and crafts, billiard room, and much more!

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8143 E Obispo Avenue Mesa, AZ 85212

$575,000

4 Beds

2.5 Baths

2,516 SqFt

Status Active

MLS # 6774113

Property Type Single Family Residence

Price Type --

Move in ready home in a super convenient location! Convenient floor plan with ample living space and large bedrooms w/ walk in closets. NEW Interior paint. Wood plank tile flooring and modern fixtures. Kitchen features granite counters, newer cabinets, custom tile backsplash, and stainless steel appliances. Bathrooms updated with custom tile showers, vanities, toilets, tile accents, and lighting fixtures. Lots of storage and indoor laundry room with large pantry. French doors lead to the spacious low maintenance grassy backyard with pool and covered patio & RV gate. Playset conveys with property. 1 New AC unit! Community park is 2 doors down. Did I mention the private pool? 2 doors down from a community park

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22850 E Calle Luna -- Queen Creek, AZ 85142

$575,000

5 Beds

3 Baths

2,311 SqFt

Status Active

MLS # 6779462

Property Type Single Family Residence

Price Type --

Beautiful one level 5 bedroom 3 bathroom home located in Meridian community which features a community park walking paths and community pool. Upgraded kitchen featuring stunning cabinetry granite counters mosaic backsplash black/stainless steel appliances gas range and a spacious island that fits 4 barstools & large pantry. Kitchen opens to the dining area & great room. Home has high ceilings tile flooring and recessed lighting throughout. The great room has a sliding glass doors leading to private backyard, plumbed with a gas line for outdoor cooking/barbecuing. Low maintenance front & backyard with paver boarders & paver walk path. 2 front side gates. Primary bedroom has walk in closet and walk in shower 2nd bedroom has private bathroom. Home has reverse osmosis and a water softener.

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27602 N Denver Hill Drive Wittmann, AZ 85361

$575,000

5 Beds

3 Baths

2,278 SqFt

Status Active

MLS # 6778733

Property Type Single Family Residence

Price Type --

Welcome to your private desert retreat! A home that offers not just comfort and space, but a true sense of community in a peaceful neighborhood. Set on a quiet dirt road, this property is surrounded by friendly, welcoming neighbors and picturesque land with expansive mountain views. Both levels provide a cozy, private flow between the separate rooms. Designed to accommodate a range of outdoor interests, this property is ready for whatever you envision—from horseback riding, gardening, ATV trails, and more. An RV station with power and water hookups ensures guests can comfortably share in the beauty of this property. Located only 30 minutes from Wickenburg, and 20 minutes from Surprise, this home offers the perfect balance of rural living, without being a far drive from the city.

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905 S Canal Drive Unit 17 Chandler, AZ 85225

$575,000

3 Beds

2.5 Baths

2,092 SqFt

Status Active

MLS # 6779711

Property Type Townhouse

Price Type --

Home Sweet Home! Discover the charm of this beautiful 3-bed, 2.5-bath townhouse in Mission Crossing at Chandler Ranch! This Home exudes elegance with modern light fixtures, neutral paint, tons of natural light, and wood-look tile flooring w/plush carpet in all the right places. You'll LOVE the spacious, perfectly flowing open layout! The impressive kitchen boasts black SS appliances, quartz counters, a pantry, ample white cabinetry, & a large island w/breakfast bar. There is an ample storage room under the stairs! All bedrooms await upstairs, along with a versatile loft. Main bedroom has an ensuite with dual sinks & a walk-in closet. Outback, you have a covered patio, artificial turf, & well-laid pavers. Community Pickleball Court is right next door! Move-in ready!

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16848 W Alice Avenue Waddell, AZ 85355

$575,000

4 Beds

3 Baths

3,017 SqFt

Status Active

MLS # 6784462

Property Type Single Family Residence

Price Type --

Welcome to Northern Farms! This 4Bed+Den/3Bath/3,017sqft home has everything you need & is less than 2 years old! Upon entering, you're greeted by a bright & open floorplan which blends contemporary style w/ modern finishes throughout! Custom stair railings open the space & custom barn doors give it a warm feel. Fire up the built-in electric fireplace on those cool winter nights. Celebrate holiday cooking in the modern kitchen complete w/ quartz countertops & stainless-steel appliances. Custom gazebo w/firepit bench & artificial turf is ready for entertaining & no neighbors behind gives you ultimate privacy. Massive upstairs loft is your perfect game or theatre room. Conveniently located right off of the 303 & Northern. Don't miss your chance to own your dream home today!

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