“I see very little, if any erosion in Tierrasanta SFR asking prices from 2005/6 …I think having such low inventory gives a floor support for prices.
Anyone else seeing this phenom in other SD areas? Will downturn be limited to overbuilt South Bay/Eastlake area?”
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Only a few homes in my Bay Ho neighborhood sold at peak prices in mid 2005 – the recent sales have been comparable to sales prior to that final ’05 spike. Inventory is currently low. I agree with all who believe that there has been and will continue to be significant differences between neighborhoods insofar as the degree of price erosion. Those who are waiting for a significant reduction in prices in quality, sought-after and established neighborhoods may never see a price they like.