According to the May 2007 S&P/Case-Shiller index (pdf), single-family home prices in the San Francisco MSA slipped 4.0% year-over-year and fell 0.7% from May ’07 to June ’07. For the broader 10-City composite (CSXR), year-over-year price growth is down 4.1% (down 0.5% from May).
The standard SocketSite footnote: 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).
∙ U.S. National Home Price Index Posts a Record Annual Decline (pdf) [Standard & Poor’s]
∙ May S&P/Case-Shiller Index: San Francisco MSA Continues Decline [SocketSite]