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San Francisco Case Shiller House Price Chart

By gregpfielding   Follow   Tue, 30 Oct 2012, 10:23am   1,077 views   10 comments
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http://bayarearealestatetrends.com/2012/10/30/case-shiller-san-francisco-area-home-prices-up-slightly/

The upwards trajectory lost a little steam in August. With what's happening out there right now I expect it will tick higher for a little while anyways.

Data released today from Case-Shiller showed San Francisco Area home prices up very slightly from July’s 138.37 to a 138.43 in August. Low housing supply continues to push prices higher, but the trend may be weakening.

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1. E-man Follow Befriend (31) 34 threads 2,612 comments San Jose, CA Premium

   1   12:25am Wed 31 Oct 2012   Share   Quote   Permalink   Like   Dislike   Protected   Greg, I'm also trying to figure out this market. I'm looking at history & trends, and it looks like we will have another 6-12 good months before it will become a buyer's market again. So I believe 2014 will be a buyer's market. After that, we will gradually ascending for several years. I might be a seller in 2020.

2. curious2 Follow Befriend (5) 32 threads 2,344 comments Premium

   2   12:36am Wed 31 Oct 2012   Share   Quote   Permalink   Like   Dislike   Protected   E-man says So I believe 2014 will be a buyer's market. After that, we will gradually ascending for several years. Interesting prediction, but am unsure of the reasons supporting it? The SF area is full of micro-climates, both in terms of weather and real estate. Pacific Heights vs Bayview and Hunter's Point, SF vs South City, all seem to move mostly independently. I've been trying to predict it for years, haven't found the key to it yet.

3. wave9x Follow Befriend 4 threads 74 comments

   3   7:15pm Wed 31 Oct 2012   Share   Quote   Permalink   Like   Dislike   I was looking to buy my first house in the first half of the year on the Peninsula, and this chart seems very conservative compared to what I experienced - multiple bids and houses selling for way over asking. I would have expected a sharper upturn.

4. E-man Follow Befriend (31) 34 threads 2,612 comments San Jose, CA Premium

   4   8:22pm Wed 31 Oct 2012   Share   Quote   Permalink   Like   Dislike   Protected   wave9x says I was looking to buy my first house in the first half of the year on the Peninsula, and this chart seems very conservative compared to what I experienced - multiple bids and houses selling for way over asking. I would have expected a sharper upturn. Wave, YTD, I've seen home prices shot up between 10%-30% in Santa Clara County. It depends on the location and the price range. As a buyer, I'm stunned at the price upswing this year. It feels just like 2005. Kind of like buy now or be priced out forever.

5. Goran_K Follow Befriend (4) 26 threads 1,566 comments Laguna Beach, CA Premium

   5   3:59am Thu 1 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   E-man says It feels just like 2005. Kind of like buy now or be priced out forever. It's definitely got that feeling again down here in SoCal. So much so that I've completely stopped looking at RE. This has "massive speculator crash" written all over it. The economy is much worse in 2012 than 2005-2006.

6. SiO2 Follow Befriend 3 threads 194 comments

   6   8:19am Thu 1 Nov 2012   Share   Quote   Permalink   Like   Dislike   E-man says YTD, I've seen home prices shot up between 10%-30% in Santa Clara County. The Case-Shiller San Francisco chart doesn't include Santa Clara County. It's San Mateo, SF, Alameda, not sure what else. But not Santa Clara. I think you are right though, prices have come up in SCC. get ready for the inevitable "prices are crashing, new construction is $60/ft, a brand new 2000 sq ft house is available for $120k anywhere in the USA". With no citation as to where such a thing actually exists.

7. exflirt Follow Befriend (1) 43 comments Chandler, AZ

   7   10:03am Thu 1 Nov 2012   Share   Quote   Permalink   Like   Dislike   And rents are going through the roof, too, reminding me of 2008/2009. It is just so hard to live there - I can't figure why people choose to stay. With the price of land in the Bay Area there's no way any new construction will be close to 120K. Heck, each tiny individual 3,000 sq ft lot probably costs more than that. SiO2 says I think you are right though, prices have come up in SCC. get ready for the inevitable "prices are crashing, new construction is $60/ft, a brand new 2000 sq ft house is available for $120k anywhere in the USA". With no citation as to where such a thing actually exists. 3... 2... 1...

8. The Professor Follow Befriend (5) 25 threads 1,324 comments Premium

   8   10:26am Thu 1 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   How can wages support price and rent increases? Median household income United States 2006: $52,347 2010: $50,046 (down 4.4%) California 2006: $61,251 2010: $57,708 (down 6%) San Francisco 2006: $70,664 2010: $71,745 (up 1.5%) Marin County 2006: $88,793 2010: $83,867 (down 5.5%) Alameda County 2006: $69,633 2010: $67,169 (down 3.5%) Contra Costa County 2006: $80,191 2010: $83,867 (up 4.6%) San Mateo County 2006: $83,984 2010: $82,745 (down 1.5%) Source: U.S. Census Bureau Read more: http://www.sfgate.com/bayarea/article/Bay-Area-income-beats-state-U-S-census-shows-2309174.php#ixzz2AzbFqIsK

9. bubblesitter Follow Befriend (5) 10 threads 2,329 comments

   9   10:42am Thu 1 Nov 2012   Share   Quote   Permalink   Like   Dislike   The Professor says How can wages support price and rent increases? Median household income United States 2006: $52,347 2010: $50,046 (down 4.4%) California 2006: $61,251 2010: $57,708 (down 6%) San Francisco 2006: $70,664 2010: $71,745 (up 1.5%) Marin County 2006: $88,793 2010: $83,867 (down 5.5%) Alameda County 2006: $69,633 2010: $67,169 (down 3.5%) Contra Costa County 2006: $80,191 2010: $83,867 (up 4.6%) San Mateo County 2006: $83,984 2010: $82,745 (down 1.5%) Source: U.S. Census Bureau Read more: http://www.sfgate.com/bayarea/article/Bay-Area-income-beats-state-U-S-census-shows-2309174.php#ixzz2AzbFqIsK Best and the only counter argument will be put up is, rates are super low and hence the high price is justified regardless of underlying economy/jobs/wage issue - meaning to say current home prices are still bubble prices. At the peak of the bubble it was the EZ loans that fueled the market,now it is the low rates that fuels it. Once the economy turns into much better shape the investment frenzy in housing will start waning down as stock market investment would look better,then another downward leg in housing prices regardless of what the rates would be.

10. Trivial Follow Befriend 3 threads 41 comments

    10   10:53am Thu 1 Nov 2012   Share   Quote   Permalink   Like   Dislike   LiarWatch says wave9x says I was looking to buy my first house in the first half of the year on the Peninsula, and this chart seems very conservative compared to what I experienced - multiple bids and houses selling for way over asking. I would have expected a sharper upturn. Sit tight. What goes inflated always deflates. maybe gas will deflate back to $1/gallon as well?