PMI reports that they believe the likelihood of a price decline in the San Francisco Bay Area (San Francisco, San Mateo, Redwood City) housing market now stands at 56%. But as an astute reader pointed out in April, that’s not exactly going out on a limb.
At the same time, CAR reports that that the May ’06 median sales price of an existing, single-family detached home in San Francisco was $770,000 (down from $775,000 in April) and $752,830 in the Bay Area. This represents a year-over-year appreciation of 2.0% in San Francisco (4.3% in the Bay Area).
∙ Economic Real Estate Trends (pdf) [PMI]
∙ Heads You Win, Tails You Lose [SocketSite]
∙ May 06 sales/price report [CAR]
∙ May 2006 Median Home Prices [CAR]