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- The Most Splendid Housing Bubbles in America, October Update: 10 of the 20 Metros Down From Their Peaks Last Year, 6 Metros Set New Highs
The Most Splendid Housing Bubbles in America, October Update: 10 of the 20 Metros Down From Their Peaks Last Year, 6 Metros Set New Highs
by Wolf Richter Wolf Street
From 2022 peaks: San Francisco -11%, Seattle -10%, Las Vegas -6%, Phoenix -6%, Portland -5%, then Denver, Dallas, San Diego, Los Angeles, Tampa.
We like the S&P CoreLogic Case-Shiller Home Price Index because it’s based on the “sales-pairs method” comparing the sales price of the same house over time, thereby eliminating the issues associated with median price indices (see “Methodology” toward the end of the article). And we like it because it shows the 20 metros it covers in all their individual glory. But we grumble because it lags months behind: Today’s index for “August” is a three-month moving average of home prices whose sales were entered into public records in June, July, and August. That’s the time frame we’re looking at here today.