Wells Fargo Research--National Housing Trends

This week's report from Wells Fargo Advisors focuses on the housing market, with some interesting data and information about national studies of housing and studies of different markets throughout the country.  For once, a study looks at part of the Bay Area (here, San Jose, Santa Clara and Sunnyvale) v. the whole Bay Area region (from here to Sacramento).  

It is interesting that most neighborhoods in San Francisco are holding their value more than the national averages (as I have mentioned before, southern neighborhoods in SF, the Sunset and lofts in SOMA are the hardest hit in SF).  Does that mean that we are lagging the rest of the country and will be hit later on, or is our market less impacted by the economic downturn?