In October 2005 the median sales price for a U.S. home was about 7.3 times per capita income. By this May it was just about back tot he historical norm at 5.7 times per capital income. In many locations it looks like inventory has flattened and the decline has ended. SmartMoney Magazine has noted that the following cities look like they are in line for a rebound:
Seattle, Raleigh, Des Moines, Philadelphia, Denver, Birmingham, Salt Lake City.
Ahhh...but where is Boston?!
Source: SmartMoney (11/01/08)