Interactive map: The home price correction (or lack of correction) in America's 400 largest housing markets

There's no doubt about it: We're in a sharp housing market downturn.

Across the country, mortgage brokers and builders are scrambling as millions of potential buyers sit on the sidelines after last year's historic mortgage rate shock. The numbers aren't pretty: On a year-over-year basis, mortgage purchase applications are down 36.4% and existing home sales have fallen 35.4%.