Like the last bubble nobody has a gun to their head to buy the home. No harm in sitting it out.
Once the supply normalizes, and it has been growing the past several weeks, prices will normalize.
People thinking there will be big price drops are incorrect. Price drops will be due to inaccurately priced homes that were listed to high to begin with. Once the supply normalizes compared to previous years the only major source for depreciation in San Diego will be due to the lending rates. You may see a small depreciation that will accompany the “normalizing” of the market but that is not a trend setter. The larger declines will be only tied to lending. That will be off in the future, but not in the short term.
