[quote=pencilneck]Submarkets aside, its pretty clear that nationally housing is currently softening. The plunge in mortgage applications is one telling indicator. Another is the shift from appreciation to depreciation in the case shiller index (in 18 of 20 markets I believe).

I believe San Diego, as a whole, will soon follow suit. The pause in the housing decline appears to be over. I think this will be visible in the San Diego markets by this Fall, but I’m not absolutely sure about this. I’m more confident in the general trend than exact timing.

Best of luck to all.[/quote]

FWIW, SD has historically been a leader in increases/declines relative to other markets rather than following suit. History would not bear out to SD following suit. With that said, we declined alot and then recovered a little. It wouldnt surprise me and I fully expect that we will go back to where we were a year ago in many but not all parts of SD.