The Case-Shiller Index for August for the 5-county San Francisco Metro Statistical Area was released today. It showed a small improvement from July’s reading and is now at its highest point since December 2008. http://my.paragon-re.com/Docs/General/SixtyFortyImages/Case-Shiller_High-Tier_2011.jpg
The June S&P Case-Shiller Index report released today continued to reflect the surge in Bay Area home values. Remember that Case-Shiller measures house values in a 5-county area and generally reflects the heat of the market 4-6 months ago. So … Continue reading →
The May reading for the S&P Case-Shiller Index, released today, substantiated what we’ve known for quite some time: the SF home market (though the Index is for the 5-County Metro Area) is rapidly accelerating. Since the Index is a rolling … Continue reading →
The forecast for the California Housing Market
The day after I posted my take on the Case-Shiller Index, they came out with July’s report (they’re always trailing three month averages) showing a continuing decline in the San Francisco MSA. Wait for it: down 27.3% from July 2007. Are we worried? Not that much. Why not? Read my October 27 blog: “San Francisco” means most of the Bay Area when it comes to the Case-Shiller Index.
You want scary? Median prices are down 45% year over year in Contra Costa County. ...
Yup, that’s right folks. According to the well-known and well-respected Case-Shiller Index published by Standard and Poor’s, San Francisco home prices in July 2008 were down a whopping 24.8% from a year previous. How can this be, when you read right here that median prices were down YOY (year over year) a “mere” 11.3% in September (see Oct 23 blog below) and just 5.5% YOY for July 2008 — see my market trends archive.) More realtor fluffery, you huff, designed to make the credulous public believe that things are not so bad. ...