How much did houses appreciate in SD after 2004? 2004 was a big year so Jan is different than Dec. After the end of 2004. I don’t really see anything going up that much comparing like to like situations. Keep in mind that a 10% appreciation through 2005-2006 in dollars was the same as 20-25% appreciation in 2003.Maybe in the neighborhoods you guys are watching prices sky rocketed in 2005-2006? I hope our ideas of prices is not contaminated by zestimates and the median too much.I sold my last property march 2005 for $575k and zestimated it later that year at around 675K.There is no way it would have ever sold for more than 600K.From my perspective reverting to 2004 is “soft landing”. .It is definitely not a return to “fundamentals” or “affordability”. 2001-2002 is somewhere in between the super bulls(1997) and the super safe bulls(2004). Its just that 2001-2002 prices would already reflect up to 50% off in so many areas and I think that is a number that is hard to accept. I am trying though!