Sounds like we'd better get down there even sooner than I'd planned. :)
It's important to look to see where you are relative to the other baby boomers. The first wave of boomers have left the snowy winters and high cost of living areas of NY, NJ, CT and MA. They have sold their homes up north for a million dollars and have moved to areas such as the Carolinas and Georgia and have bought themselves mansions for $300,000. Sales of upper end houses on golf courses are strong and prices are more than holding their own.
Overall I don't think it is a good time to buy right now - the exception being areas where the baby boomers are moving. If you are planning on moving south (not Florida) where those boomers are heading it's probably a good idea to start looking now.