San Francisco Home Prices Turn Negative For First Time Since 2011
It seems that San Francisco's tech billionaires and their lower-level millionaire minions have finally lost their appetite for outrageously priced homes in the Bay Area. After five years of posting some of the highest YoY pricing growth of any market in the country, single-family home prices in San Francisco and San Mateo counties dropped 2.5% YoY in Q1 2017, making it the the worst performing market of the 100 largest U.S. metropolitan areas, according to an index released earlier today by the Federal Housing Finance Agency. Per Bloomberg: