According to the S&P Case/Shiller® published last Tuesday, home prices in San Francisco have increased by .15% since February 2007. This the first uptick since May 2006.
Since May 2006, San Francisco home prices have dropped by 3%. This is to be compared to a 8% increase between May 2005 and May 2006, which leaves me with the feeling that the correction is not over yet.
The data is available here.