Ok mock is too strong of a word - mocking is just rude and I wouldn't do that - but I do disagree with the correction argument.

What you're seeing is a reduction in the rate at which prices go up, not a correction (reduction) in sales prices.

Holding open houses without getting offers and having to cut price from the initial listing price is what happens in normal markets - markets where prices are going up at single digit rates each year.

Corrections - significant drops in the median home sales price - really only happen when there is large scale forced selling (i.e. foreclosures and short sales). If you've seen a big spike in foreclosures here in Utah you're seeing something I've missed!