I think it all depends what you are watching. I pay attention to central SD.
I the last 6 months
Dowtown- inventory seems to have doubled and roughly 20% of all re-sale condos are selling at a loss.
Hillcrest -where I live, prices seems to be hanging tough but inventory has skyrockeded with condos which is 2/3s of the market. People are starting to crack and sell under market value. Probably about 15 months supply+ and climbing on market.
Kensington/normal hieghts/north park/southpark-there used to be only 3-4 sfrs under 400K now there are at least 30-40 and climbing.
Combine all that with all the REOs that have popped up. Seems to be 1 in 10 are bank owned.
