Again: sale prices are still 20%(?) below their peak and were even lower before. Clearly, economic conditions did affect the market in SD. Your neighborhoods seem to the anomalous rather than the norm.[/quote]
Yes, they ARE 19% below the peak, on average according to Rich’s current graphs. BUT this means they may be 32% below peak in places like Lakeside and at or above peak in places like LJ or LaPlaya/Fleetridge SD (92106), for example.
It depends on the micro-area how values are currently faring in comparison to the (late 2005) peak prices. Some areas didn’t have a lot of bubble purchasers who purchased with funny money and hence, didn’t have a lot of distressed property afterwards. They had more all-cash buyers and well-heeled buyers with great credit who didn’t have to sign up for “funny money” mortgages in order to purchase the property.
