GRM (sales price/gross income) isn't typically used as a market indicator because the underlying data, primarily what is paid by the tenant versus what is paid by the owner, is different for every property. For example, in some complexes what is metered and billed by the utility company to each unit, in others it's metered at the building level and paid by the owner. Cap rates or cash-on-cash return provide a better view of profitability across a market. In general, prices for multi-family properties in Mountain View are down 10%-12% over the past year, depending upon the neighborhood. Rents are tracking along the same line, though in the better neighborhoods (primarily west of El Camino Real), demand is stronger and rents have not dipped as much.