The Case-Schiller index for September is out, and the good folks at Redfin have been kind enough to render that over-sized portion of data-graph-porn into digestible bites.
Basically, home prices across the nation are down, and the Bay Area didn't escape this fate. After a 1.5% dip month-over-month and a 5.9% dip year-over-year, housing prices now match those of April, 2002. But by far, "low tier" homes (those priced at/under $320,010) took the biggest hit. "All three of the Bay Area’s tiers fell in September, with the low tier losing the most ground. Month to month, the low tier was down 2.2%, the middle tier fell 1.1%, and the high tier decreased 0.9%." Does this mean low end properties could be more accessible for the middle-income Bay Area type (i.e. the vast majority of people linving here)? Readers, digest that data-porn yourselves and let us know.
· Case-Shiller: Get Ready for a Long Winter for Home Prices [Redfin]