The nation on the whole may have seen a small decrease in the January S&P Case-Shiller report released yesterday, but no one ever said the Bay Area reflects the rest of the country. The San Francisco Metro Area Index, which covers five Bay Area counties, bumped up again.
At this point, the index for higher-priced homes – which typically covers San Francisco – is at the previous market peak set in 2006. The city has exceeded the rise in the five-county area and has in general bypassed previous peak values.
We at Paragon expect to see further increases once the late winter/early spring selling season is reflected in the index. Keep in mind that Case-Shiller always runs several months behind.
You’ll find Paragon’s full report here. The chart accompanying this post shows market cycles over the past 30-plus years. Have questions? Give me a call!
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