VIVIAN LEE

San Francisco home and condo values continue to build upon their big first quarter gains. Single-family home prices in San Francisco rose 4.9% from March to April 2013. The recovery is definitely broad based. Atlanta, Las Vegas, Phoenix and San Francisco posted year-over-year gains of over 20% in April. San Francisco was the highest at 23.9%. Recent economic data on home sales and inventories confirm the housing recovery’s strength. Currently in the early summer of 2013, we have experienced a slight cool down. This can be based on rising interest rates, buyer burnout on increasing values or just summer activities. Some pockets of the City have peaked dramatically while others are still climbing. Stay tuned!