I was looking at the home prices in the Albuquerque area and have this great chart that shows the Average Price per sqft. I like this number vs average or median price to get a better indication of appreciation/depreciation. Some takeaways… The avg price per sqft is at the same levels as Summer of 2006 and of Fall of 2010. The appreciation from 2012 to today is about 2.5% annually and from 2004 to 2008 it was about 7% annually. Tego