gn,
This goes back to post I made a few months back. Homes do not appreciate in%’s the appreciate in $’s. Forexample, in my area everything went up about $100,000 in one 3 month period (Dec 2003 to Feb 2004). Lower priced homes had a higher appreciate rate but everyone pretty much got the same amount of appreciation dollars. Likewise, on an individaul basis I believe it is ridiculous for a potenital homebuyer to try and predict what percentage the market will go down. You are better served by determining what you want and trying to figure out what the nominal price will be. Admittedly this is not easy but worth the effort. Overall market decline figures are for economists not homebuyers and the only price that really matters is of the home you actually buy unless you are buying as a speculator/investor.