We can debate the downturn all we want but there’s nothing like looking at the listings to see the down market.
I have some searches saved on zip realty. There were few results last year but now I see inventory added all the time. One example is Downtown SD for under $299k. The prices are lowered yet they sit and sit… If they are such good deals, why are they not moving?
The professor predicted 25% down from the peak. I see listings already 15% down(in today’s supposedly ‘stable’ market) but with no takers. So in my mind 25% drop is too conservative. I know that a few examples don’t reflect the whole market. But since so many listings already reflect 15% drop, I can imagine that it will only get worse as the statistics reflect the beginning of a downturn.
