Most definitely and even a little below. Spring 2004 represented absolute peak pricing for many homes and 2003 was a very fast moving market all year. Prices rose steadily throughout 2003, then rose dramatically in the Fall of 2003 and then shot through the moon in Early 2004. In many areas prices jumped $100 to $200K almost overnite in late Jan/early Feb 2004.
In many cases we are back to late 2003 prices. My guess is that we will go back to early to mid 2003 prices.
