There are zip codes that are above bubble levels and zip codes still below. From a very broad perspective higher end zip codes seem to have bounced back more forcefully than areas like Santee/Chula Vista.
If prices go up another 5-10% in the next year I’ll start talking “bubble”, but for now I’m sticking with prices being “relatively high”, but not a true bubble. The peak of a normal cycle isn’t a bubble, it’s only when prices overshoot “normal” highs significantly it becomes a bubble with high risk of popping.
I feel like it’s a great time to sell, and buyers should exercise extreme caution.
