May
24
San Francisco Goes From First to Worst in U.S. Home-Price Gauge
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Prices drop 2.5 percent in first decline since 2011, FHFA says
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Buyers may be held back by affordability constraints
San Francisco, which in recent years had the biggest home-price gain in the U.S., was the country’s weakest market in the first quarter, with values falling for the first time since 2011.
Single-family home prices in the region that includes San Francisco and San Mateo counties dropped 2.5 percent from a year earlier, the worst performance among the 100 largest U.S. metropolitan areas, according to an index released Wednesday by the Federal Housing Finance Agency. Grand Rapids, Michigan, a relatively affordable area where prices jumped 13.7 percent, had the biggest gain…
San Francisco Goes From First to Worst in U.S. Home-Price Gauge
