The Most Splendid Housing Bubbles in America: Price Drops & Gains in 33 Big Expensive Cities, May 2026

From all-time high in prior years: In 28 of the 33 cities, prices have dropped from their respective peaks in prior years, led by Austin (-27%), Oakland (-26%), and New Orleans (-19%). In 17 of those cities, the peaks were in 2022; in 9, the peaks were in 2024; and in 2, the peaks were in early 2025...