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While people are still registering domains, fewer of them do so less often. Remember, market price is the equilibrium point of the supply and demand. Now the demand is getting weak due to the world economy, and the supply is increasing as domainers need to liquidate their portfolios to increase cash flow. That is a lot of domainers becomes unemployed, and they don't have the money to pay for the mortgage or rent, foods and other essential stuff, they will need to sell the domains for money. Now if they are selling at the normal prices, it will take months to get a sale. Therefore, the more desperate domainers need money, the lower price they are willing to take in order to get the money as quick as possible. Ok, say you don't need money that desperate, but still you now cannot price your domain like before, because if you do that, your domains will look expensive; therefore, buyers will resort to buying other premium domains at cheaper prices. Consequently, the domain market is shifting toward cheaper prices, whether you want it or not, regardless of whatever growth reports you're shoving down.

Also remember that businesses cut their advertising costs in this economic situation. Apparently, Google is earning less from its advertising products (AdWords and AdSense), and so are the rest of webmasters who rely on AdSense. This is one important indicator how businesses spend their money on advertising. So look around, websites are earning less, and naturally, they will fetch less dough in the market.

A lot of you guys understand this. No need to elaborate more.