According to the March 2007 S&P/Case-Shiller index (pdf), single-family home prices in the San Francisco MSA slipped 2.3% year-over-year but gained 0.1% from February ’07 to March ’07 (the first monthly uptick since May 2006). For the broader 10-City composite (CSXR), year-over-year price growth is down 1.9% and down 0.4% from February.
As previously noted: The S&P/Case-Shiller index only tracks single-family homes (not condominiums which represent half the transactions in San Francisco), is imperfect in factoring out changes in property values due to improvements versus actual market appreciation (although they try their best), and includes San Francisco, San Mateo, Marin, Contra Costa, and Alameda in the “San Francisco” index (i.e., the greater MSA).
∙ Spring Brings No Signs of Warming in Home Prices [standardandpoors.com]
∙ February S&P/Case-Shiller Index Decline Continues For SF MSA [SocketSite]