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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10917 E Tiburon Avenue
Mesa, AZ 85212
$562,825
4
Beds
2.5
Baths
1,960
SqFt
Status
Active
MLS #
6788481
Property Type
Single Family Residence
Price Type
--
MLS#6788481 March 2025 Completion. The Harlow is a spacious 1-story floor plan featuring 1,960 sq. ft. with 4 bedrooms, 2.5 bathrooms, a 2-car garage, and a dedicated study, making it the largest of the single-story designs. The foyer leads to the study, ideal for working from home, and flows into the open kitchen, dining, and great room, perfect for gathering with family and friends. Step outside to enjoy Arizona's beautiful weather from your private outdoor living space. The primary suite serves as a relaxing retreat with a private bathroom, double sinks, and a walk-in closet, blending comfort and functionality in this thoughtfully designed home. Structural options include: garden tub with separate shower, double gate at garage side, garage service door.
4656 E Laredo Lane
Cave Creek, AZ 85331
$562,500
3
Beds
2
Baths
1,314
SqFt
Status
Active
MLS #
6775740
Property Type
Single Family Residence
Price Type
--
No detail was overlooked in this immaculate and lovingly maintained - BETTER THAN NEW - single-level home in the highly sought-after, gated Dove Valley Ranch! Surrounded by desert preserve, this three-bedroom home features mountain views, an open-concept floor plan, and low-maintenance, worry-free living. Interior features include neutral tile flooring throughout, granite countertops, a gas stove, a renovated primary bathroom, plantation shutters, vaulted ceilings, and more. Step outside to find manicured desert landscape, a covered patio, and unparalleled views of surrounding mountain vistas and natural area open space. Beyond your new home, enjoy one of North Phoenix's finest public golf courses, a clubhouse bar/lounge, and easy access to first-rate schools, parks, hiking, & more. Roof 2019, HVAC 2015, water heater 2016, whole-home water filtration system... the list of thoughtful updates goes on. Come see your new home today!
4330 Copperhead Drive
Wickenburg, AZ 85390
$562,500
2
Beds
2
Baths
1,873
SqFt
Status
Active
MLS #
6769355
Property Type
Single Family Residence
Price Type
--
Discover a home that balances comfort and character in the coveted Lone Star neighborhood. This exceptional residence welcomes you with a warm, rich color palette, setting a relaxed and inviting mood throughout. Large rooms flow seamlessly across the tile flooring, while plantation shutters add a touch of elegance. The kitchen is a highlight, featuring a gas cooktop that makes cooking a pleasure. And with an owned wired alarm system, peace of mind is built right in! Out back, the space is designed for year-round enjoyment. Gather around the gas fire feature on cooler evenings, fire up the built-in BBQ, or relax under the shade of the pergola while taking in the desert air. It's an outdoor space made for quiet moments and lively get-togethers alike, with thoughtful details that invite... you to unwind. The extended-length 3-car garage isn't just practicalit's a well-organized space with attached shelving, providing room for vehicles, gear, and projects. It's the kind of garage that offers flexibility, whether you need extra storage or room for hobbies. This home at Wickenburg Ranch is all about easy living, with spaces that invite you to make them your own. It's a place where the details matter, offering a lifestyle that feels as good as it looks, ready to become your next favorite spot.
4207 E Ford Avenue
Gilbert, AZ 85234
$562,500
5
Beds
3
Baths
2,370
SqFt
Status
Active Under Contract
MLS #
6753341
Property Type
Single Family Residence
Price Type
--
INCREDIBLE ORIGINAL OWNER UNIQUE 5 BDR home in the HEART OF GILBERT. This Fulton Home features a vaulted ceiling great room with LARGE KITCHEN and tons of NATURAL LIGHT. Upstairs features primary suite + 2 additional bedrooms and full bath. Short steps down from great room features full FLEX SPACE, 2 additional bedrooms and a 3rd full bath! REAL WOOD FLOORS and tile throughout. BRAND NEW ANDERSEN WINDOWS, + AC & ROOF REPLACEMENT COMPLETED. Backyard features gardeners paradise: Pears and Pomegranates nearly ripe; Tangerines, Lemons and HUGE Ruby Red Grapefruit Tree, Katy Apricots and Figs in the Spring/Summer. Incredible fruit bearing grape vines on the west side and shade tree + paver patio provide the PERFECT BACKYARD CANVAS. Neighborhood park just down the street. Stop by today!
4919 W Hunter Trail
San Tan Valley, AZ 85144
$562,490
5
Beds
3
Baths
2,776
SqFt
Status
Active
MLS #
6776898
Property Type
Single Family Residence
Price Type
--
NEW HOME! The perfect blend of functionality comes to life. This stunning home boasts 5 bedrooms, 3 baths, bonus space and walk-in closets, ensuring that there's room for everyone. The island takes center stage, serving as a workspace or a social hub where family and friends can gather. Whether you're preparing a gourmet meal or enjoying a family breakfast, the kitchen is designed to be a culinary haven. Umber dark cabinets and granite counter tops with a generous amount of wood look tile! Stepping outside, the 3-panel sliding glass door offers an additional living space that seamlessly extends the indoor experience. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.
4354 Ponderosa Trail
Wickenburg, AZ 85390
$562,486
2
Beds
2
Baths
1,648
SqFt
Status
Active
MLS #
6770324
Property Type
Single Family Residence
Price Type
--
Introducing the Dream floor plan, a stunning 1,648 sq ft home with 2 beds & 2 baths, expertly designed by Shea's in-house interior design team. This home features a GE built-in induction appliance package, including a dishwasher, wall oven, microwave, & oven hood. Oil-rubbed bronze accents add elegance throughout. The primary bath boasts a heavy glass shower enclosure, quartz countertops, & under-mount sinks in both baths. Enjoy custom mosaic tile work, upgraded full overlay cabinets, generous cabinet pullouts, & quartz countertops in the kitchen. Additional features include a 15 ft sliding glass wall, extended covered patio, upgraded electrical, $20k in tile flooring, 4 ft garage extension, & custom landscaping front & back. Discover current incentives at Shea sales office.
2827 N 212th Drive
Buckeye, AZ 85396
$562,073
4
Beds
4
Baths
2,514
SqFt
Status
Active
MLS #
6741507
Property Type
Single Family Residence
Price Type
--
Welcome to your TO BE BUILT: 4-Bed, 4-Bath Mountain-View dream home nestled against the stunning White Tank Mountains, offering unparalleled privacy and breathtaking views. This East/West oriented gem boasts grand 10' ceilings and elegant 8' doors throughout, creating a sense of luxury and space. The chef-inspired kitchen is a culinary delight, featuring a gas cooktop, wall oven micro combo, large pantry, premium countertops, and 42-inch upper cabinets. Perfect for entertaining, the home seamlessly blends indoor and outdoor living with multiple sliding glass doors leading to a spacious patio. The expansive owner's suite is a retreat of its own, complete with a big closet and a huge walk-in super shower with a rainhead. Located just minutes from the Sienna Hills Swim park/gym/clubhouse!
1922 E Yale Street
Phoenix, AZ 85006
$562,000
3
Beds
2
Baths
1,231
SqFt
Status
Active
MLS #
6772421
Property Type
Single Family Residence
Price Type
--
This fully renovated 1925 classic home blends charm with modern luxury. Featuring stunning luxury laminate floors and brand-new windows, the open floor plan is enhanced by beautiful wood beams and elegant crown molding. The custom bathroom showcases period-specific tile choices, while the kitchen boasts white shaker cabinets, quartz countertops, a striking blue tile backsplash, a pot filler above the gas range, and a farmhouse sink. Stainless steel appliances complete the space. Plus, enjoy peace of mind with a new roof and serviced A/C—all part of a permitted remodel!
4676 N 177th Drive
Goodyear, AZ 85395
$561,990
5
Beds
3
Baths
2,776
SqFt
Status
Active
MLS #
6788576
Property Type
Single Family Residence
Price Type
--
BRAND NEW, energy-efficient home available in GATED COMMUNITY! There is space for everyone in the Lennon. With an open concept living space, 5 bedrooms, and 3 bathrooms entertaining has never been easier. Create your own play space in the included flex space. This home has slate cabinets with marble-look white quartz countertops, backsplash, wood-look tile flooring with beige carpet! ALREADY INCLUDED - washer, dryer, window blinds (except slider), refrigerator, soft water loop and MORE!! Enjoy EXCLUSIVE amenities right at your doorstep including parks, pickleball, soccer, play area, walking trails, basketball court, ramada with outdoor kitchen, gas grill and fireplace, and more!!! Each home is built with innovative, energy-efficient features designed to help you ENJOY more SAVINGS!
1473 W Saddle Run
Apache Junction, AZ 85120
$561,990
4
Beds
2
Baths
2,432
SqFt
Status
Active
MLS #
6750810
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 plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. The Avelino floor plan offers a refined single-story design with four bedrooms, including an AllGen suite, and a spacious flex area ideal for an office, TV room, or study. Featuring front yard landscaping, this home will be ready for occupancy in October or November. Conveniently situated near community parks, grocery stores, and dining options.
3131 N Central Avenue Unit 6021
Phoenix, AZ 85012
$561,900
2
Beds
2
Baths
1,125
SqFt
Status
Active
MLS #
6568555
Property Type
Apartment
Price Type
--
*Construction completed* 5% BUYER INCENTIVE! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom condo offers ten ft. ceilings, an open floor plan, and large master bedroom with ensuite bathroom. Chefs kitchen offers expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful pool and lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.
7931 E Quartet Avenue
Mesa, AZ 85212
$561,674
4
Beds
2
Baths
1,832
SqFt
Status
Active
MLS #
6714316
Property Type
Single Family Residence
Price Type
--
MLS#6714316 Ready Now!! The Edmonton at Hawes Crossing Discovery is a beautiful 1-story floor plan that comes standard with 1,832 sq. ft., 4 bedrooms, 2 bathrooms, 2-car garage, and 2 dining areas. The foyer takes you directly to the dining and kitchen area, which provides ample space for cooking all your favorite meals. Enjoy an open casual dining and great room area with direct access to the outdoor living area, which makes for great entertaining space. The spacious primary suite has a private bathroom with double sinks and a walk-in closet. Welcome home! Structural options include: 8' interior doors. Design upgrades include: tile throughout whole home, paver driveway, tankless water heater, soft water loop, window treatments on all window, 2 faux wood blinds.