I often get appraisal orders for re-finace transactions for homes that were bought in 2005.  It appears that many people are still unaware that most homes that were bought in 2005 have lost considerable value since then. My personal residence has experienced about a 20% decrease since the high in 2005.  It is easy to find the current trends in the real estate market here in Southern California by clicking on the "Home Appreciation Rates" tab at the left on my website. This will bring you to the DataQuick site which has a breakdown of appreciation (or depreciation) according to zip code as gleaned from the Los Angeles Times or San Diego Union Tribune.