INDEX FOR BAY AREA HOMES HAS DROPPED OVER 14%, DOWN YOY

The S&P CoreLogic Case-Shiller Index for single-family home values within the San Francisco Metropolitan Area – which includes the East Bay, North Bay and Peninsula – ticked down another 1.6 percent in November.  As such, the “San Francisco” index has dropped over 14 percent since last May. And as we projected, the index is now 1.6 percent lower than at the same time last year, representing the first year-over-year decline for the index since October of 2019 and the largest year-over-year drop in over a decade, and still trending down, none of which should catch any plugged-in readers by surprise.

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