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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501 S Saguaro Drive
Wickenburg, AZ 85390
$2,200,000
3
Beds
2.5
Baths
2,583
SqFt
Status
Active
MLS #
6787388
Property Type
Single Family Residence
Price Type
--
Welcome to your very own slice of roper's paradise! This stunning property blends the best of luxury living with a top-of-the-line roping facility, all set against breathtaking views. Step inside this beautifully updated Santa Fe-style home, where charm and comfort harmonize perfectly. Rock fireplace creates a warm and inviting centerpiece for cozy nights. In the kitchen the gorgeous granite countertops, updated refrigerator, and many cabinets add sophistication and practicality. The Spanish style tile floors and wood accents & rock wall are finishes that showcase the exceptional craftsmanship of the home. The numerous entertainment spaces are perfect for hosting family and friends. The courtyard entrance and gate provide a stunning welcome with extensive landscaping, mature plants and trees with true Southwestern charm. Enjoy the Arizona sunsets, relax and unwind in your private heated pool. Ropers will love the professional arena equipped with sprinklers, roping chute and return alley. There is also a large turnout, steer pen, and 7 pens with covers misters and automatic waterers. There is a hay barn and tack room with a covered tie rack that will fit all your storage needs. For visitors there are two full RV hookups that will make hosting friends and family a breeze. The property is also fenced with steel pipe and no climb. This extraordinary property offers the ultimate balance of luxury living and equestrian excellence. Whether you're a professional roper, a weekend cowboy, or simply someone who appreciates the Western lifestyle, this is the place where dreams become reality. Come and experience firsthand why this roper's dream is truly one of a kind!
7026 E Warner Road
Tempe, AZ 85284
$2,200,000
5
Beds
5
Baths
5,500
SqFt
Status
Active
MLS #
6786409
Property Type
Single Family Residence
Price Type
--
1.94 ACRE BULK SALE OPPORTUNITY includes APN 301-52-984 (Vacant Land to the North) in a highly sought after location in Tempe. City approved easement on the west side of the properties for access to the North lot; Build your Dream Estate, two brand new homes, or renovate the existing property. This is a rare opportunity with a variety of possibilities, in a prime Tempe location.
2809 E Frye Road
Phoenix, AZ 85048
$2,200,000
4
Beds
3
Baths
4,066
SqFt
Status
Active
MLS #
6788144
Property Type
Single Family Residence
Price Type
--
STUNNING mountain top luxurious estate in the heart of Ahwatukee and a private road entrance. Every detail carefully chosen to ensure luxury living at its finest. This 4 bed/3.5 bath extends over 4000 square feet offering breathtaking mountain and city views, a brand new swimming pool, marble tile floors throughout, and retractable glass doors in the great room bringing lots of natural light. The gourmet kitchen is a culinary masterpiece decorated with top of the line stainless steel appliances, and a spacious white granite island. Large bedrooms, spacious master suite with lots of natural light, fresh new paint throughout, and new designed landscaping. Come check out this gem that could be yours!
20475 E Indiana Avenue
Queen Creek, AZ 85142
$2,200,000
3
Beds
4
Baths
3,124
SqFt
Status
Active
MLS #
6788289
Property Type
Single Family Residence
Price Type
--
One year new, LUXURY 3 bedrooms plus office plus bonus room, single story, with pool & spa, 3 car garage in the gated community of Bridle Ranch. Many upgrades, tile flooring, high ceilings, upgraded cabinets and lighting throughout. 3 separate heating/cooling zones. Upgraded insulation to lower energy costs. Dual slab islands, extra kitchen cabinet storage, stainless steel appliances, double ovens. Upgraded closets throughout. Exterior cabana and outdoor firepit for entertaining and for those chilly desert evenings. Self cleaning heated pool is controlled via phone app. Close to dining shopping entertainment and walking/biking trails. Minutes from Fat Cats (movies/bowling/arcade games). Minutes from San Tan Mt Park (hiking horseback riding mountain biking). Close to Pecan Lake Entertain Close to Pecan Lake Entertainment. Sellers are licensed AZ & NV real estate agents. Please note there are recording devices throughout the property.
8170 E Kalil Drive
Scottsdale, AZ 85260
$2,200,000
3
Beds
3.5
Baths
3,888
SqFt
Status
Active Under Contract
MLS #
6782637
Property Type
Single Family Residence
Price Type
--
outstanding golf course water and mountain views one of the best view lots in Scottsdale Country Club East 9
7112 E Wildcat Drive
Scottsdale, AZ 85266
$2,200,000
4
Beds
3.5
Baths
4,203
SqFt
Status
Active Under Contract
MLS #
6783557
Property Type
Single Family Residence
Price Type
--
Stunning Tuscan elegance in North Scottsdale! Absolute luxury in this truly one of a kind Custom Entertainers Dream! Two gated entrances, guest casita, & indoor/outdoor living in this special home. Gourmet kitchen w/granite counters, commercial grade appliances, plenty of cabinets & walk-in pantry! Designer touches T/O are impeccable works of art & must be seen to be believed. Fireplaces throughout the home for those gorgeous winter nights, multiple outdoor living spaces, & custom built Coral Craft Stalls, tackroon, turnouts & 60 ft round pen! 6 waterfalls in your outdoor oasis including; Beach entry Diving Pool, Spa & Heated Exercise pool! Very private & secluded feeling & yet only minutes to world class dining, shopping, and art galleries. Stunning Mountain Views!
4150 E Dynamite Boulevard
Cave Creek, AZ 85331
$2,200,000
3
Beds
3
Baths
1,378
SqFt
Status
Active
MLS #
6664797
Property Type
Single Family Residence
Price Type
--
Seller-Financing Available! A very rare ''RU-43'' zoned Ranch to purchase in the absolutely best possible location of the Valley (a Hop & Skip from the Dynamite Roping Arena). And the Seller will consider ''Carrying the Paper'' on the financing. By the way, the ''U'' designation of the RU-43 affords additional privileges for equestrian purposes, and there is ''NO HOA''. This property is loaded with features. A Modern Barn with: Office, Ranch Hand Living Quarters, Fourteen (14) Stalls/Pens (7 in barn), Grooming Bay, Horse Drawn Carriage Garage, and Tac Room; Bull Pen, Walker, Multiple Corrals, Multiple Arenas, Breeding Facilities and a 'Hay Barn'' that would be difficult to get a permit to build these days. This ranch just went through a major renovation. Modern steel fencing was installed on the complete perimeter to help secure the property and keep unwanted animals from entering. A New Arena and Updated Corrals, were updated as well in the same way. And the house and barn were detailed throughout. The home was inspected as if the present Seller was a buyer, and items found to be an issue were repaired. And lastly, this Seller will consider owner financing for the right Buyer.
1775 S 131st Street
Gilbert, AZ 85233
$2,200,000
5
Beds
7
Baths
5,343
SqFt
Status
Active
MLS #
6714697
Property Type
Single Family Residence
Price Type
--
Experience unparalleled luxury in this meticulously designed Tuscan-inspired home. As you approach the grand front entry, custom old-world wood/metal doors welcome you into enchanting front courtyard. Step inside to discover a huge foyer and open interior that epitomize grandeur.Key Features*5400 Sqft Layout, Spacious and open, perfect for both relaxation & entertaining*Lush 1.38 Acre Lot:*A sprawling estate offering ample outdoor space for recreation*Gourmet Kitchen w granite counter tops/ designer cabinetry, a culinary haven ideal 4 entertaining *High-End Finishes, Meticulous attention to detail w/ luxurious finishes throughout*Resort-Style Outdoor Oasis: Heated pool & spa, gas fire pit, outdoor grill, putting green, & multiple covered entertaining areas. 8-Car Gar
11812 N 142nd Street
Scottsdale, AZ 85259
$2,200,000
5
Beds
4.5
Baths
5,863
SqFt
Status
Active
MLS #
6732175
Property Type
Single Family Residence
Price Type
--
Enchanting Hidden Hills home nestled amongst the McDowell Mountains with views of Camelback Mountain! Custom finishes throughout with new interior paint and carpet. Open floor plan..Great Room with Dining & Living Room ,wet Bar area that has a 300 bottle wine room. and your own Kegerator! Split floor plan ... MBR has its own wing with FP, sitting and patio areas. Bonus rooms include an Excercise area and furnished Media room. Ample parking and storage with a 4 car garage. Low maintenance back yard that is perfect for entertaining. Heated Pool with /waterfall, Spa,FP, Built in BBQ,Electric sun shades and artificial turf. Large laundry room with its own craft area! LOADS of Room to roam in this beauty......
25313 N 114th Street
Scottsdale, AZ 85255
$2,200,000
4
Beds
4.5
Baths
4,271
SqFt
Status
Active
MLS #
6733090
Property Type
Single Family Residence
Price Type
--
Sweeping and forever Epic Arizona Landscape Views, Quality Construction plus the entire walkout can be used as Guest Quarters and opportunity to extend the kitchenette to a full kitchen. At the base of Troon Mountain, aka TROON VILLAGE at WINDYWALK featuring breathtaking views of Troon Mountain, Four Peaks, and McDowell Mountain. This exquisite home offers single level living with no steps from the main entrance or the garage, into an open kitchen layout, formal living, family room, breakfast nook, primary bedroom and 2nd bedroom, full Laundry and powder room. The Guests Quarters: Down below: * Guest Quarters: Entire floor perfect for visitors or extended family. * Outdoor BBQ: Enjoy al fresco dining with a stunning '40-mile view.' * Old World Charm: Beveled travertine stone adds a touch of elegance. * Spacious Living: Two family rooms provide ample space for relaxation and entertainment. * Three Fireplaces: Cozy up in style with three fireplaces throughout the home. * Three-Car Garage: Plenty of space for vehicles and storage. Experience luxury living with epic views and exceptional construction quality. See motion Video; YOU MAKE THE CALLL
14562 N Valencia Drive
Fountain Hills, AZ 85268
$2,200,000
4
Beds
4
Baths
2,408
SqFt
Status
Active
MLS #
6773886
Property Type
Single Family Residence
Price Type
--
Mountain views abound from this modern, highly upgraded Adero Canyon residence completed in 2023. Boasting the coveted Meyer floorplan, this home offers a harmonious mix of contemporary design, high-end finishes and thoughtful architectural features, making it a standout choice for those seeking a sophisticated yet relaxed desert lifestyle. Approaching the property reveals striking curb appeal with a sleek modern façade and meticulously landscaped front yard. Raised vegetation beds create a wall of privacy, defining the yard and contemporary style highlighted by landscape lighting accentuating cacti. A detached casita opens to the front walkway, providing easy and private access for multi-generational living or a private home office. Soaring ceilings welcome you to the main house and set a sophisticated ambiance of open, airy living spaces drenched in natural light streaming through expansive windows and disappearing doors framing stunning canyon views. The well-appointed kitchen is equipped with top-of-the-line stainless steel appliances including Wolf dual ovens, microwave drawer, gas range with grill and SubZero refrigerator. Custom oak shaker style cabinets overlook quartzite counters and a large quartzite island with seating defining the area. The primary suite is a tranquil retreat, capturing views of the backyard and panoramic canyons. The ensuite bathroom includes a freestanding soaking tub, separate shower, dual vanities with backlit mirrors and an oversized walk-in closet with built-ins. All bedrooms are positioned for privacy and generously sized, with 4 bedrooms including ensuite bathrooms. The outdoor space of this home is just as impressive as the interior. Designed for both entertainment and relaxation, an expansive covered patio is an extension of the interior living space and opens to stunning canyon views. Travertine hardscaping surrounds a blue mosaic pool with sun shelf and spa, creating multiple lounging areas and leading to a custom pergola seating area. Turf and desert vegetation surround the yard, creating a pristine sanctuary. Conveniences of both Fountain Hills and Scottsdale are nearby, with Adero Canyon hiking trails and Adero Club in close proximity. The Mayo Clinic and top-rated Basis School are just a few miles away. This Toll Brothers gated community embraces the beauty of Arizona while offering residents the opportunity for a luxurious lifestyle of tranquility.
9112 E Sands Drive
Scottsdale, AZ 85255
$2,200,000
4
Beds
3.5
Baths
3,894
SqFt
Status
Active
MLS #
6787020
Property Type
Single Family Residence
Price Type
--
Exceptional Pinnacle Peak Vistas Estate with Unparalleled Views. Welcome to this custom-built masterpiece nestled on a secluded 1.8-acre cul-de-sac lot designed to embrace Arizona's natural beauty. This home offers breathtaking 360-degree mountain and desert views. Step into the backyard oasis featuring a saltwater Pebble-Tec heated pool and spa, a boulder waterfall, beach entry, built-in BBQ, expansive covered patio, and an observation deck complete with a cozy gas fireplace...the perfect setting for entertaining or relaxing under the stars. The open-concept kitchen is a chef's dream, showcasing upgraded appliances, glass-front cabinets, a walk-in pantry, all opening to a spacious family room with soaring ceilings. The luxurious primary suite boasts a private view patio, an oversized walk-in closet, and a jetted tub. The full basement offers versatility with a wet bar, bedroom and bathroom and lots of storage. The home office features custom built-ins, while the garage includes an extra storage room for convenience. Built with energy-efficient and high-tech features such as low-E dual-pane windows, a centralized A/C control system, CAT-5 wiring, built-in stereo throughout, and a central vacuum system, this home is designed for modern living. Perfectly located minutes from DC Ranch, Kierland Commons, Scottsdale Quarter, and TPC Scottsdale, this property offers both tranquility and accessibility to world-class shopping, dining, and golf. Don't miss this rare opportunity to own a private desert retreat!