Do you think now is the time to sell in California? I've been doing my research and it seems at least in my market there's been a small shift in San Diego. On the buyers end what do you suggest to continue renting until we see a bigger shift or do you suggest buy now while rates are low and holding for 10 years minimum?
I suggest not trying to time the market unless you are really good at it. Figure out specifically what you want to achieve and try to find a property that will meet that goal. Lots of "experts" were calling the peak in 2015 or 2016 - if you'd taken the advice then and waited for the inevitable crash, you'd still be waiting.
What's for sure is that there will be a downturn. When it will be, and how large it will be, nobody really knows. Don't expect fire sale prices like we had in 2009-2011 though.
I really hope not, I'm just seeing in the last 3 months here in San Diego homes are on the market longer and List vs sales price is lower. In the end we will see and hopefully it's not as bad as 2008