“The Market in San Diego County” is actually about 100 little market segments. Loren Nancarrow would call them “micro markets”. While they are all connected they do move at different paces. During a declining market the less desirable areas and less desirable homes will pave the way for the others, and the better homes in the better areas will suffer a little less.

Poway has always been a desirable area because of its highly rated schools and its relatively young housing stock, so it should come as no surprise that it won’t get as beat up as Escondido or San Marcos to the north. There will still be losses over the long run, though; they’ll just be at the lighter end of the scale.