A couple of things to keep in mind when reading tomorrow’s reports of home prices in San Francisco having gained 22.6 percent in 2013.
The rate of appreciation has been on the decline for the past nine months and 98 percent of 2013’s gains were recorded in the first nine months of the year. In fact, the price index for single-family homes gained less than half a percent in the last quarter of 2013.
And with respect to San Francisco index for condo prices which gained 24.6 percent in 2013, 100 percent of the gain was recorded in the first nine months of the year. The condo price index actually slipped a nominal 0.3 percent in the last quarter of 2013.

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