The new Case-Shiller Index report for the five-county San Francisco metro area is out. It reflects activity in March and shows the same acceleration in home prices that buyers and sellers have been experiencing in the market.
The 2.4 percent increase from February to March 2014 is the largest since Spring 2013, with further significant increases expected in the Index reports for April and May when they are released over the next two months.
On a national scale, home prices saw only a 0.17 percent increase month-over-month, and Case-Shiller’s 20-City Index showed a 0.87 percent increase, so San Francisco and the Bay Area are strongly outperforming the rest of the country in terms of home price appreciation.
Home prices in the Bay Area have been appreciating since the market recovery began in earnest in early 2012, with northern Bay Area high-tier home prices jumping an estimated 37.5 percent through March. Typically we track the high-tier index, as it best reflects San Francisco’s market.
Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email firstname.lastname@example.org. www.ceceblase.com