I really have to agree with sdrealtor (although I do see what you are saying jg). Steve Beebo, are you really not seeing the drop in prices for houses you appraise, and has it not been more significant in many cases than the current decline expressed in the median?

I’ve seen plenty. Admittedly, I’m only looking at a few zip codes, but I have no problem finding homes that sold for significantly less than they were purchased for a year or two ago. You must see this, right, or am I mistaken and you’re not an appraiser?

Median might be useful for determining trends, but as a gauge of what is happening is to specific home values, I’d disagree. Are you saying they are?