Many Bay Area homes have yet to recover pre-recession values
With double-digit price appreciation returning to some Bay Area markets, we’re used to hearing that the region’s homeowners are a lucky bunch, richer by the minute.
It’s often true, but not always.
A new report by Trulia, the real estate website, finds that only 60.4 percent of single-family homes in the Oakland metropolitan area have recovered their pre-recession peak values, compared with 84.3 percent in metropolitan San Jose and 98 percent in the San Francisco metro area. Out of 100 U.S. metros whose housing recovery was measured by Trulia, Oakland ranks 34th, while San Jose ranks 19th and San Francisco is No. 2 in the nation.