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  • The Most Splendid Housing Bubbles in America, April Update: Year-Over-Year Price Drops Worsen in San Francisco, Seattle, San Diego, Portland, Las Vegas, Phoenix, Los Angeles, Denver

The Most Splendid Housing Bubbles in America, April Update: Year-Over-Year Price Drops Worsen in San Francisco, Seattle, San Diego, Portland, Las Vegas, Phoenix, Los Angeles, Denver

April 26, 2023

by Wolf Richter Wolf Street

Even Miami lost ground. Spring selling season is a dud so far. And the banking crisis hasn’t even made it into the data yet. That’s still to come.

Spring selling season is here, but so far, it’s a dud. In some markets, home prices fell from the prior month, despite spring selling season: Miami, Seattle, Las Vegas, Portland, New York City, Dallas, for example.

In other markets, prices ticked up from the prior month, but a lot less than a year ago, and so year-over-year, even in those markets, home prices either fell further, or the year-over-year gain was further reduced. This is based on today’s release of the S&P CoreLogic Case-Shiller Home Price Index today.