I don’t know who the buyers are in general, but there are nearly 4000 SFRs and condos in escrow in SD County right now. I would say that there are very few investors in the market, though.

I will say that people buying now in San Diego, especially first-time buyers, are in a better position than those that bought 12 months ago. Although prices will almost certainly continue downward, at least to some extent, buyers today are paying up to 5-10% less than they would have last year, depending on the area, and whether they’re buying SFRs or condos. So at least they’ve got that going for them.