The S&P/Case-Shiller Home Price Index for SD is down 6.8% from Nov 2005 to March 2007. These are nominal prices, and include resale SFRs only.
Now, if you factor in that condo and new home prices probably have not held up as well, you could put the overall level of prices declines for the period a little higher, say 8 or maybe 9%. Factor in a year and a half worth of inflation, and the developments since this March, and I’d say a reasonable guesstimate is that prices are down somewhere between 10 and 15% from peak right now. Nothing earth-shattering, but certainly an encouraging start.
