Article: California Luxury Home Values Move Lower.

Los Angeles, San Diego and San Francisco All Drop For Second Straight Quarter

SAN FRANCISCO, May 19 /PRNewswire/ -- Luxury home prices in Los Angeles, San Diego and San Francisco all posted modest declines in the first quarter of 2008, according to the First Republic Prestige Home Index(TM) by First Republic Bank, a leading provider of private banking, private business banking and wealth management services.

 
  In the quarter ended March 30, 2008, the Index indicated the following: 
  -- Los Angeles area values decreased 2.2% from the fourth quarter of 2007 
 and 3.7% from the first quarter of 2007.  The average luxury home in 
 Los Angeles is now $2.35 million. 
 ...

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