According to the Chron, the real estate report known as the Case-Shiller/S&P Home Price Index actually claims that Bay Area homes rose in value. The San Francisco Bay Area, which includes Alameda and Contra Costa counties, saw home prices rise 1.2 percent from September to October. This makes the Bay Area one of seven metropolitan areas with a modest gain in home prices, out of 20 surveyed. Now, home values are still 2.6 percent lower than they were in October of 2008. But consider this: they're 46 percent higher that they were in 2000.