I bought in the Lamorinda (East Bay of SF) in Dec 2005 after moving from Southern Cal. We bid on ~12 houses before buying one. But we never went more than $100K over asking with is why it took so long to get a house.
NOW…Prices for the same tract home as mine are going for about $50K less… asking price about the same, just no more overbidding. Sales are slower weeks instead of days or even hours.
I would say a slow down not a big drop. I am planning to buy my retirement in SD and that’s why I read this site. Someday…back in the sunshine.
