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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1205 W Indian School Road
Phoenix, AZ 85013
$555,000
3
Beds
1
Bath
1,143
SqFt
Status
Active
MLS #
6770320
Property Type
Single Family Residence
Price Type
--
Welcome to Melrose! Completely remodeled by owner, this centrally located gem in Melrose district is walking distance to some of the top restaurants in Phoenix. Everything in this home has been meticulously thought out and upgraded by current owner. Beautiful tile through the entire home, large kitchen island and upgraded appliances including tankless water heater. Gated parking for multiple vehicles and rear rv gate for alley entry. Plenty of room in back yard for detached garage or ADU to be built. Bathroom has been completely re-done and boasts beautiful tile shower/tub and contemporary look. Covered back patio for entertaining and self watering landscaping. Owner will provide detailed list of upgrades. Great starter home or potential airbnb!
2308 E Loyola Drive
Tempe, AZ 85282
$555,000
3
Beds
2
Baths
1,631
SqFt
Status
Active
MLS #
6781434
Property Type
Single Family Residence
Price Type
--
Welcome to this beautifully updated 3-bedroom, 2-bathroom split floor plan home featuring a versatile office/den, wood and tile flooring, and a 2-car garage. Entertain effortlessly with a dedicated coffee/bar area complete with a mini fridge, wine rack, and wine fridge. The kitchen boasts a gas stove and recent updates include a new AC unit, newer water heater, and recently replaced main sewer/water line. Outdoors you can relax on the patio with a mount waiting for your TV and a charming planter area. Enjoy a private pool with a safety fence, and a shed for extra storage. Close proximity to ASU, shopping, and restaurants with quick access to the 101, it makes getting around so easy. Come take a look, this home has it all!
1859 N Morris --
Mesa, AZ 85201
$555,000
4
Beds
2
Baths
2,627
SqFt
Status
Active
MLS #
6783437
Property Type
Single Family Residence
Price Type
--
Welcome to your new home! This exceptional home has two large, professionally built additions and recent, high-quality updates throughout. The upgraded kitchen includes top-of-the-line appliances, like a steam/convection oven, white shaker cabinets, and granite countertops. The backyard is an entertainer's dream, featuring artificial turf surrounding a propane-heated pool, an outdoor shower, 4-6 person hot tub, and ample seating areas. The primary suite offers a spacious walk-in shower with a dedicated drying area, double granite-topped sinks, a separate toilet, and a bidet. Both bathrooms include additional bidet upgrades. Elegant imported Italian tile throughout the home complements its modern style. Situated on a large, 1/4-acre+ cul-de-sac corner lot, this property features an RV gate, 30-amp breaker for RVs or equipment, gravel covering on the north side, and an outdoor two-hole putting green. Perfect for relaxing, entertaining, or accommodating an RV lifestyle!
5849 W Monte Cristo Avenue
Glendale, AZ 85306
$555,000
3
Beds
2
Baths
1,839
SqFt
Status
Active
MLS #
6784316
Property Type
Single Family Residence
Price Type
--
Nestled in the highly desirable Sunburst Farms of Glendale, this expansive **.37-acre property** offers the perfect blend of rural charm and modern convenience. Ideal for horse enthusiasts, the property features a **horse trail directly behind** and plenty of space for equestrian needs. The **3-bedroom, 2-bath home** has been beautifully remodeled with thoughtful upgrades throughout. Step inside to discover a bright, open floor plan featuring **bamboo flooring**, **new butcher block countertops**, and freshly painted interiors. The **master bedroom** boasts luxurious Venetian plaster walls, while both bathrooms have been completely updated with new tile and vanities. A spacious living room, dining area, and cozy family room provide ample space for entertaining, complemented by a **large laundry room** with a convenient side exit to the yard. Outside, you'll find a true **backyard oasis**, complete with a **newly plastered sparkling pool**, a covered patio, and lush privacy provided by **mature mulberry and tangelo trees**. Two sheds, a **gated work area**, and **dual RV gates** offer plenty of storage and room for all your toys. The carport is thoughtfully tucked behind an RV gate, maximizing the backyard's usability. Don't miss this rare opportunity to own a piece of Sunburst Farmsa property that seamlessly combines country living with modern amenities!
2511 W Queen Creek Road Unit 164
Chandler, AZ 85248
$555,000
2
Beds
2
Baths
1,466
SqFt
Status
Active Under Contract
MLS #
6648361
Property Type
Apartment
Price Type
--
Located in the sought-after Downtown Ocotillo area. Built in 2023.This property boasts a comprehensive range of high-end amenities and upgrades designed to offer an exceptional living experience. A significant 950 square foot patio accessible from both the living room and master bedroom, offering extensive outdoor private space, which is a rare find in urban living environments. Gourmet Kitchen: Equipped with upgraded KitchenAid stainless steel appliances, white maple cabinetry, and two pantries—one with pullout shelving and another with custom shelves. The presence of quartz countertops and a spacious island enhances both its functionality and aesthetic appeal. An additional room that can serve as a den or office, featuring a Jack and Jill bathroom, providing a practical and flexible living space that can be tailored to various needs. Large laundry room complete with cabinets, shelving, and a soft water system, indicating a thoughtful consideration towards practicality and convenience in home design. High pH reverse osmosis (RO) water system is a notable feature, emphasizing the property's commitment to health and wellness. Wood-look style porcelain tiles offer a durable yet aesthetically pleasing flooring option, while upgraded light fixtures and a coat closet add to the property's luxurious feel. The inclusion of smart home security and the ButterflyMX system highlights the modern and secure living environment, catering to the increasing demand for integrated technology in residential spaces. A private gated garage and locked bike room storage suggest a high level of convenience and security for residents, addressing common urban living concerns. Proximity to restaurants, entertainment options, farmers markets, and more, underscores the appeal of urban living, with essential amenities and leisure activities within walking distance. This property appears to offer a blend of luxury, convenience, and modern amenities, making it an attractive option for those seeking a high-quality living experience in Downtown Ocotillo. With over $70,000 in upgrades, it reflects a significant investment in creating a space that is both comfortable and stylish, catering to the needs and preferences of discerning residents. Near INTEL, Price Technology Corridor, Restaurants, Shopping, Entertainment and Freeways.
10133 E Chestnut Drive
Sun Lakes, AZ 85248
$555,000
2
Beds
2.5
Baths
1,886
SqFt
Status
Active
MLS #
6786631
Property Type
Single Family Residence
Price Type
--
Beautiful LAKE VIEW home located in a highly sought-after Adult community of Cottonwood at Sun Lakes. The community offers a unique blend of luxurious tranquility and classic charm that is loaded with numerous amenities including Golf Courses, Tennis, Pickle Ball, Racquetball, Swimming Pools, a Library, Fitness Center, Fishing Lake, and Restaurants along with tons of activities, events, and clubs such as concerts, walking, dancing, cooking classes, etc. The home features 2 BEDROOMS, 2.5 BATHS, and a LARGE DEN. There is a BEDROOM and a FULL BATH ROOM DOWNSTAIRS. 2 ENCLOSED PATIOS (One of the patios has its own AC unit). Marble kitchen countertop. Home is well maintained with newer exterior paint, HVAC, and Water Heater. Don't wait to make this gem yours!
729 N Abalone Court
Gilbert, AZ 85233
$555,000
3
Beds
3.5
Baths
2,242
SqFt
Status
Active
MLS #
6787476
Property Type
Single Family Residence
Price Type
--
This home offers an unbeatable North Gilbert location, just a short bike ride to vibrant Downtown via the extensive trail system. Enjoy proximity to McQueen Park Activity Center, offering endless entertainment options, as well as nearby top-rated schools, exceptional dining, shopping, and more. Nestled in a sought-after community with a sparkling pool and additional amenities, this property sits on a premium lot with no side neighbors and borders a sprawling sports field. The thoughtfully designed open-concept layout seamlessly connects the living, dining, and kitchen spaces, creating a warm and welcoming environment perfect for both entertaining and everyday life. The kitchen is a chef's delight with abundant storage. With three generously sized bedrooms, a versatile loft, and 3.5 bath this home offers ample space for everyone to relax and recharge. Built by Lennar the home also offers many energy efficient features and so many upgrades.
628 W El Pajarito Drive
Wickenburg, AZ 85390
$555,000
3
Beds
3
Baths
1,824
SqFt
Status
Active
MLS #
6633676
Property Type
Single Family Residence
Price Type
--
New Build right in the heart of Wickenburg. Only 3 Existing masonry walls remain from existing home, and everything else is brand new. All new electric, plumbing, and sewer throughout. pebble-tech Pool and all new pool equipment. Includes new Built-in BBQ area in back yard. New Roof and New HVAC unit - 4 ton package heat pump, 15 seer dual stage by Trane w/ Ecobee Thermostat controls. Home is spray foam insulated in all walls and ceilings, including the garage. Smart TV's and apple TV modules in every room. 2-channel amplifier, 8'' sub-woofer, and in ceiling speakers in Master Bedroom and Living room. House includes 16-zone security and surveillance system with push button key-pad. Ring exterior video doorbell, exterior video camera on back of house included
20998 W Edith Way
Buckeye, AZ 85396
$555,000
4
Beds
2.5
Baths
2,465
SqFt
Status
Active
MLS #
6687452
Property Type
Single Family Residence
Price Type
--
Welcome to your new retreat in the heart of Buckeye! This modern haven boasts 4 bedrooms, 2.5 bathrooms, and a cozy, family-oriented living room seamlessly connected to a versatile den/playroom. The gourmet kitchen features top-of-the-line appliances and an inviting color scheme, perfect for culinary adventures and gatherings with loved ones. Nestled in a lush, family-friendly neighborhood, this vibrant home offers the perfect blend of comfort and style. With 2-year-old HVAC units and a newly upgraded garage opener, convenience and peace of mind are ensured. Step into the enchanting backyard oasis, complete with ample patio space for hosting get-togethers and creating cherished memories under the open skies. Thoughtfully designed for modern living, this home boasts bedrooms on the second floor for privacy and tranquility, while the main floor serves as a hub for entertainment and socializing. Located in a thriving community known for its quaint charm and family-oriented atmosphere, this Verrado gem invites you to experience the ultimate in comfort, style, and relaxation. Don't miss your chance to make this exceptional residence your own and embark on a journey of inspired living in one of Arizona's most coveted neighborhoods.
1830 W Alta Vista Road
Phoenix, AZ 85041
$555,000
5
Beds
3
Baths
1,554
SqFt
Status
Active
MLS #
6717285
Property Type
Single Family Residence
Price Type
--
🏡 **Investment Opportunity: Tenant-Occupied Gem!** Welcome to your next lucrative real estate venture! Nestled in a sought-after neighborhood, this remarkable 5-bedroom, 3-bathroom house with a spacious backyard offers an irresistible investment opportunity. Here's why you should seize the chance: **Key Features:** 1. **Tenant Occupied:** Sit back and watch your investment grow effortlessly! This property is already generating substantial rental income, with tenants paying well above market rates. A stable income stream awaits you from day one. 2. **Prime Location:** Located in a desirable neighborhood, this property promises enduring value and high demand. Enjoy the convenience of proximity to schools, shopping centers, parks, and more, ensuring maximum 5 Bedroom Three Bath w/ Large Backyard Tenant in place at $3,495.00 per month 1830 West Alta Vista Road, Phoenix AZ 85034 ReModel Year 2024 New Roof: New Shingles / Roof Boards/ HVAC: 3 ½ Ton (Duct Cleaned ) 2024 by George Brazil Certificate of Service 2024 (George Brazil) Mini Split: 1 ton Brand New 2024 (ReCamera 5) ELECTRICAL: New Wiring throughout Lighting/Ceiling lights; Ceiling Fans (new) Plumbing: New Plumbing (with PEX-A) throughout FLOORING: Brand New (Bruce Hardwood flooring in Bedrooms) Porcelain Tile in Bathrooms Bathrooms: New Vanity Sinks, New Shower heads, New Hollywood LED mirror nEW Medicine Cabinets, New Bidet, Hand Held showers Paints: New interior painting (all rooms ; living rooms) New Exterior Paints + Stone Tiles in the front PAVERS: Brand new Pavers both in Front and Back Laundry Room: New General Electric Combo (Washer/Dryer) Home Depot Water Heaters: Instant Water Heater (Natural Gas) / Tankless Kitchen + Living Room: New Kitchen Island + New Kitchen with New Appliance Dishwasher/Garbage Disposal; Double Oven Range (not brand new) New Kitchen Cabinets Drawers/ Drawer pul Prime Location: Located in a desirable neighborhood, this property promises enduring value and high demand. Enjoy the convenience of proximity to schools, shopping centers, parks, and more, ensuring maximum tenant satisfaction and retention. Modern Upgrades: Say hello to worry-free ownership! With a brand-new roof, washer, dryer, and appliances included, you can rest assured knowing that maintenance costs are minimized, and tenant satisfaction is maximized. Expansive Backyard: Embrace the outdoors! The large backyard provides ample space for relaxation, recreation, and entertainment, making it an attractive feature for potential tenants seeking a lifestyle of comfort and leisure. New Paver Driveway: Impress at first sight! The newly installed paver driveway enhances curb appeal and sets the stage for a warm welcome, leaving a lasting impression on both tenants and visitors. Investment Highlights: Income Potential: Benefit from immediate cash flow with tenants already in place, offering an attractive return on investment. Low Maintenance: With recent upgrades and meticulous upkeep, enjoy hassle-free ownership and minimal expenses. Value Appreciation: Capitalize on the potential for long-term appreciation in property value, fueled by the property's prime location and enduring appeal. Don't Miss Out! This tenant-occupied treasure presents an exceptional opportunity for savvy investors seeking steady returns and long-term wealth accumulation. Act now to secure your future in real estate! Buyer to verify all facts and figures. Explore Your Investment Opportunity: Rental Property Perfectly Situated near South Mountain Park and Light Rail Access! Looking for an investment property that combines location, convenience, and income potential? Welcome to your next venture at the prime location of South Mountain Park and Light Rail Access! **Strategic Location** Nestled in the thriving area near South Mountain Park, this rental property offers the perfect blend of urban convenience and natural beauty. South Mountain Park, one of the largest municipal parks in the country, provides residents with endless opportunities for outdoor recreation, from hiking and biking to picnicking and enjoying scenic views. **Easy Access to Light Rail** With the convenience of nearby light rail access, commuting has never been easier for tenants. The new light rail line provides seamless connectivity to downtown Phoenix, making it ideal for tenants who work in the city center or nearby employment hubs. **Thriving Employment Opportunities** Located in close proximity to major employment centers, including downtown Phoenix and surrounding business districts, this property offers tenants convenient access to a wide range of job opportunities. Whether they work in healthcare, technology, education, or hospitality, tenants will appreciate the short commute times and easy access to employment options. **Investment Potential** With its desirable location, proximity to employment centers, and easy access to recreational amenities, this property presents a lucrative investment opportunity in the thriving Phoenix real estate market. Whether you're a seasoned investor or a first-time buyer, don't miss out on the chance to add this gem to your portfolio.
17473 W Elizabeth Avenue
Goodyear, AZ 85338
$555,000
4
Beds
3
Baths
2,549
SqFt
Status
Active
MLS #
6717971
Property Type
Single Family Residence
Price Type
--
What a deal! PAID OFF SOLAR PANELS!! and one of the bedrooms located on the first floor for guests or mother in law. Resort like backyard and beautiful balcony that overlooks the pool! This 4 bedrooms and 3 bathrooms home has it all from soaring ceilings, spacious family room, 3 car garage and much more! Don´t miss out this opportunity and make this home yours today!
237 N Cottonwood Drive
Gilbert, AZ 85234
$555,000
4
Beds
2
Baths
2,298
SqFt
Status
Active
MLS #
6749131
Property Type
Single Family Residence
Price Type
--
BACK ON THE MARKET!!! Welcome to Stonebridge Lakes! Your 4 bedroom, 2 bathroom home in a prime location in Gilbert awaits you. The 4th bedroom is set up as an office, perfect for remote working or running your business! Walk or bike to downtown Gilbert for plenty of entertainment nearby. You will fall in love with the open floorplan that this home has to offer. Just wait until you see the tranquil backyard with plenty of shade, storage and room for outdoor grilling. Stonebridge Lakes offers catch and release fishing, a playground, a community pool and spa. This home is also located in the top A-rated Gilbert Unified School District.