Standard & Poor's latest Case-Shiller Index examining changes in home sales prices around the country shows that San Francisco's prices have jumped 23 percent from this time last year. This means that current prices are higher than at any other time, including at the peak of the 2007 bubble. San Francisco's gain is second in the nation only to that of Las Vegas', but Las Vegas homes are still 45% percent cheaper than they were during bubble times. San Francisco leads the pack in growth around the Bay Area, although all five counties included under that umbrella (San Francisco, Marin, San Mateo, Alameda and Contra Costa) are on an upward trend. Much of San Francisco's rise occurred during a frenzied period of growth last spring, when high buyer demand and lower interest rates coincided with low supply to push up prices. The high-demand/low-supply situation has continued into this spring's upcoming buying season, and Paragon Real Estate, which analyzed the index in depth, predicts continued growth.
· Case Shiller Reflects Accelerating Home Prices [Paragon Real Estate]