And speaking of the S&P/Case-Shiller index (and no, that wasn’t a coincidence), according to the July 2007 index (pdf), single-family home prices in the San Francisco MSA slipped 4.1% year-over-year and fell 0.4% from June ’07 to July ’07. For the broader 10-City composite (CSXR), year-over-year price growth is down 4.5% (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).
∙ They’re Betting Against San Francisco On The CME [SocketSite]
∙ Summer Swoon Evident in the S&P/Case-Shiller® Home Price Indices (pdf) [S&P]
∙ June S&P/Case-Shiller Index: San Francisco MSA Mimics U.S. Decline [SocketSite]