I just got back from a trip to southern California. Their properties have seen dramatic adjustments in the last year and are projected to drop another 25% this year. In contrast our prices in the Chicago area have proven to be rather resilient. Even though individual home prices are dropping, both MLS statistics and Charles Rutenberg Realty sales records show that the average sales price in our markets have held even. While there are numerous anecdotal stories about sales at big discounts, the statistics don’t show that for the overall market. This continues to be a great time for a buyer to get into the market, especially if they qualify for the first time buyer tax credit.