Nope..speaking of San Diego…and pretty much anywhere in the United States.

When the seller can still make a mint on the sale of their house (obviously I’m not talking of anyone who purchased sinced late 2004) to a new “bag-holder”. The seller wins. The buyer loses. Plain and simple.

I know of people who moved away last summer, before selling their house, and are planning to move back here this summer because they “can’t” sell their house. Bullshit! If they drop the price to $650K from $750K, it’d likely sell, even in this market. And they’d pocket a cool $250K in tax-free gains. The seller has control, but will not exercise it due to greed. Buyers are really not forcing anyone’s hand just yet.

“When a seller has to cut their prices to meet the demands of the buyer”….if they are still making a KILLING–yes, it is still a seller’s market.