SF homeowners lucky they’re not in Vegas 

Homeowners in San Francisco may have had to face grueling competition when buying their lot, but at least they know that demand and value of their investment will remain relatively stable during a down economy.

That can’t be said for homeowners in Las Vegas, where home prices plummeted 26.6 percent between October last year and the same month this year, according to a recent Standard & Poor’s report.

Phoenix suffered an 18.1 percent slide, while Detroit, Tampa and Miami saw negative results above 14 percent, the report said.

In San Francisco, the year-round drop wasn’t so dramatic: only 2.6 percent.

And the market in The City has been trending upward, though slightly, the report said.

“San Francisco has reported seven consecutive months of positive returns,” it said.

Too bad about Vegas, where the outlook remains bleak.

“Las Vegas remains the one market that has not seen a glimmer of hope so far this year,” Standard & Poor’s said. “Prices have declined for 38 consecutive months, with a peak-to-trough reading of -55.4 percent.”


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