After reading Brad Andersohn's "FeedBlitz" today he shared an interesting chart from Zillow. I changed the cities to show the markets of Oklahoma City and Dallas/Ft Worth and the result was both metro areas have remained relatively stable since 2006. I included The Miami/Fort Lauderdale area because I came from there in 2006. There the Home Value Index has dropped by over 50%. As a sales manager there in 2005 our company sold hundreds of condo conversion units. It is just unthinkable that all those units now sell for half of what we sold them for just 5 years ago.
Check out Brad's post and you can run the numbers on your own area.