It appears that SW will be devaluating RR points as of 1/1/2024

[dfwskier]

It will take 4% more RR points to buy a ticket as of that date.

So, if you are planning on 2024 points flights, you may want to buy them this year.

[jj1814 · Accepted solution]

Came here to post this as I just happened to see the fine print at the end of the rapid rewards statement email they just sent.

“Notice: Starting on January 1, 2024, for flights purchased using Rapid Rewards points, the number of Rapid Rewards points required per dollar of base fare will increase by approximately 4%. This change will not affect Rapid Rewards Members who book
travel prior to January 1, 2024.”