Case Shiller’s methodology seems to be fairly accurate. I just looked at a property online in San Marcos that sold for 600k in 05′, 550k this year, or 8.3% less. This is one of many homes I have seen that have sold this year for 5-10% off peak, so these numbers seem about right. And then there are some areas that are flat, others that are down 15-20%, and averaged they also bring you to that same range of a market that is down 7-8% overall, with the caveat that it all depends on which area of SD you live.
