Bay Area homes lose $38B in value in 2009

A home for sale is seen Tuesday, Oct. 17, 2006, in San Francisco. (AP Photo/Ben Margot)

December 9, 2009 11:48:17 AM PST
Homes in the Bay Area lost more than $38 billion in value during the first 11 months of 2009 according to a new report from real estate site"

It may sound like a lot of money, but it is only a fraction of the $233 billion lost in 2008.

Homes in Contra Costa County have been the hardest hit, losing $12 billion in value, followed by Alameda and Santa Clara Counties.

Homes in Marin County have actually increased in value slightly so far in 2009.