Probably not. In the last two years, values in Sierra Vista have deflated about 15%. There is still a gradual (about a half-percent per month) decline in values
As bad as that sounds, it is better than in many, if not most, communities in the Unitd States.
Practically every separate real estate market in the nation is in the process of "deflating."
Dropping home prices are painful for Sellers, while appealing to Buyers. More Buyers are now able to qualify for homes, as the prices drop into their price range.
The fact is this: sooner or later, equilibium will be reached. Sellers and Byers will agree that Home pricing is "right." Then, and only then, will the real estate market will start "humming" again.