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Decline in home values levels off

Decline in home values levels off

Home values in the nine-county Bay Area continue to decline.  In the first 11 months of 2009, Bay Area lost $38.1 billion in value, 3 percent decline, according to real estate site Zillow.com.  In 2008, Bay Area lost $233.1 billion in home values, a 15.7 percent drop in the previous year.

San Francisco lost $197.7 million in value, down 0.1 percent from the previous year. 

Across the country, homes lost $489 billion in value from January to November 2009, a 1.9 percent decline.  

SF Gate- 12/9/2009