This is an outlier example though of a high-end second home community. In my town, which admittedly is less desirable, home values peaked 6+ months ago. At this point, they're at most 10 - 15% over 2018 prices. That's still a lot but it's at pace with overall inflation. And we very clearly haven't hit the bottom yet, as anything that isn't in pristine condition is sitting with multiple price drops.