SAN FRANCISCO - Despite fears of an economic slowdown or even a possible recession, luxury home values continued to rise precipitously in California during the fourth quarter, according to First Republic Bank's prestige home index.

The San Francisco Bay area led the way, reaching another record high, and values in Los Angeles and San Diego had their largest annual gains in more than a decade, according to the index.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.