The Most Splendid Housing Bubbles in America (April, 2024 Update)

Estimated Reading Time: < 1 minute

New Highs in Miami, Los Angeles, San Diego, Boston, Chicago…

The S&P CoreLogic Case-Shiller Home Price Index, released today and dubbed “March,” is a three-month moving average of home prices whose sales were entered into public records in January, February, and March. So that’s the time-frame we’re looking at here. It reflects Rate-Cut Mania that commenced in November and peaked February 13, when the first of three nasty CPI reports in a row interfered.

During that time, the average 30-year fixed mortgage rate dropped from 7.8% at the end of October to about 6.6% in mid-February. Mortgage rates have since then zigzagged higher, with the daily measure of Mortgage New Daily pegging the average 30-year fixed rate mortgage today at 7.28%.

The 20-City Case-Shiller Home Price Index jumped by 1.6% in “March” (moving average of January, February, and March), from the prior month:

  • Month-to-month, prices rose in all 20 metros covered by the index.
  • Year-over-year, the 20-City Index was up 7.4%.
  • Compared to the previous all-time high of June 2022, the index was up 2.0%.

  1. San Francisco Bay Area: -9.7% (May 2022)
  2. Seattle: -8.2% (May 2022)
  3. Phoenix:  -5.5% (June 2022)
  4. Portland:  -5.4% (May 2022)
  5. Denver:  -5.0% (May 2022)
  6. Dallas: -4.2% (June 2022)
  7. Las Vegas: -3.6% (July 2022)
  8. Tampa: -0.14% (July 2022)…..


Continue reading this article at Wolf Street.


The Prickly Pear’s TAKE ACTION focus this year is to help achieve a winning 2024 national and state November 5th election with the removal of the Biden/Obama leftist executive branch disaster, win one U.S. Senate seat, maintain and win strong majorities in all Arizona state offices on the ballot and to insure that unrestricted abortion is not constitutionally embedded in our laws and culture.

Please click the TAKE ACTION link to learn to do’s and don’ts for voting in 2024. Our state and national elections are at great risk from the very aggressive and radical leftist Democrat operatives with documented rigging, mail-in voter fraud and illegals voting across the country (yes, with illegals voting across the country) in the last several election cycles.

Read Part 1 and Part 2 of The Prickly Pear essays entitled How NOT to Vote in the November 5, 2024 Election in Arizona to be well informed of the above issues and to vote in a way to ensure the most likely chance your vote will be counted and counted as you intend.

Please click the following link to learn more.