Here comes the Case-Shiller
Cue the dramatic entry music – no, this isn’t a bride entering the wedding hall, it’s the notorious Case-Shiller Index report, this one for November 2013. Released today, it offers three views of what’s happened in the Bay Area’s “high-tier priced” homes, which are currently classified as those selling for more than $801,000 since 2013.
It’s important to keep a few things in mind: first, the recovery really seems to have began in early 2012, and the Case-Shiller is sometimes not the best indicator for San Francisco itself as it measures the five-county metro area, not just the city. But with these caveats, let’s proceed.
This chart shows Bay Area home appreciation in 2013. You’ll notice a definitely steady rise here, with Bay Area houses in the upper third of the price range appreciating approximately 18 percent since the beginning of 2013. Most activity occurred from March through June.
Something to note: Since the market recovery began in early 2012, prices have appreciated about 31 percent. This chart shows that market recovery from 2012 to 2013. Both years, after dramatic spring surges, home prices plateaued in mid-summer and autumn.
Finally, this chart shows market cycles from 1996 to 2013. Here you’ll obviously see a lot more dips and peaks. It can be a rough ride, so hang on tight.
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