San Francisco’s housing market has retreated from record highs last April, with sales volume collapsing and pricing down double digits—approximately five times the decline recorded nationally.
Prices fell 3.3 percent across the country since last year, with values in San Francisco plummeting 16.7 percent, according to Redfin—an online real estate listing company.
This decline represents more than $330 billion lost from the estimated $2 trillion real estate market, according to online real estate firm Zillow. With a 13.3 percent discrepancy between city and national price declines, if the city’s devaluation matched the national average, homeowners would have retained more than $260 billion in equity….