I've seen both markets 5 days a week. (Then and Now)They are not very similar. Lending guidelines are tighter, appraisers aren't being bought, down payments are larger, more cash buyers, less speculation. Buyers are buying more economically on average, they are more focused on lifestyle not carnality. Your wife's, friends, brother's, cousin isn't very successful as an agent.
Short story, the fundamentals are in check.
Our market is 2/3rd's peak. CA seems to be a more dynamic and cyclical.
Look at the median rent vs. buy. Days on market trend, list price vs. sales price. It will lead you to an educated guess. It's important to look at each area and price range specifically.
I'm with Greg and Dave, I'm not going to play musical residences in hopes of timing the market. I don't have the time or ambition. I'll simply sell and buy in the same market eliminating most of the risk.
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Todd
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