[quote=jrushton]I’ve done some research and found that the 92106 area really only dropped 2.3% since 2007 according to MDA Dataquick reports.[/quote]
Dataquick uses median prices, which is not a very reliable indicator. If more high cost houses are sold the median goes up, but that doesn’t mean prices have risen. Conversely, if more low cost houses are sold the median goes down, but again, that doesn’t mean prices have fallen.
While the rise and fall of prices is different in different zip codes, it’s probably also true that some areas will fall sooner and some later. But during the boom all housing in San Diego rose to high levels of unaffordability. Likewise, I’d bet that all areas will ultimately get hit by falling prices.
Best advice is to do lots of research in any area before you buy, not just look at dataquick’s median prices. And be patient, this housing collapse is definitely not anywhere near over.
