Prices are dropping in my Poway townhome neighborhood every month. Why do you think prices are not dropping? Check Sold prices, not listings. Ask your realtor to give you the Solds in your price range over the last 4 months, and notice the lower price/sq ft, dropping every month. It’s hard to predict how fast it will decline. I think it depends on several factors: how many people will keep leaving San Diego, the number of listings, the quality of listings (how many are vacant, REO, distress sales, moving), sales… Months supply keeps rising. The longer you wait, the cheaper it gets. I sold my Poway house and am renting; signed a 2 year lease this summer. My 3 kids are very happy in this rental. I suggest you rent for 2-5 years.
