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California  | 

San Francisco Home Prices Drop, Finally

San Francisco home values fell for the first time since 2011, reversing a hot streak that pushed the market to the top of U.S. home price gains. It was the weakest market in Q1 2017, according to a Federal Housing Finance Agency index.

Bay Area single-family home prices dropped 2.5% from the previous year, which ranked it as the worst performer among the 100 largest U.S. metros. The biggest price gain was experienced in Grand Rapids, MI, which jumped 13.7%.

Data from CoreLogic Inc. showed a decline in values, too. In April, the median price for all home sales in San Francisco County dropped 4% to $1.3 million from a year earlier, and transaction volume dropped 12%.

Bay Area workers may find price deceleration a welcome relief. The booming tech industry helped push prices higher in recent years, which made real estate unaffordable for most buyers in the market.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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