Misleading medians

I've been talking about this for months now (as recently as this morning), how, as more higher-end homes finally succumb to foreclosures and distressed sales at much lower prices, median home prices could actually go up as these prices tumble. In this post, Bill at Calculated Risk provides an excellent example of just how this can be using the data below.
Go read the whole thing if you have any doubts about this and then get ready for the headlines later this year and next year about how home prices are rising when they're really falling.