Single Family Home prices plummet -- what does that mean for apartment properties?

The Desert Sun reports that prices of single family homes sold in Coachella Valley declined:

http://www.desertsun.com/story/money/real-estate/2014/07/28/coachella-valley-home-prices-dip-june/13257669/

I follow economic reporting, and recall that I have never seen a study of prices for apartment properties compared over the long term to home prices.

Here's my guess: there's no connection. Sometimes, the supply of homes and the supply of apartment units vary. Sometimes, the demand for homes and the demand for apartment units vary. Interest rates vary. Demographic patterns change over time, so some people only want an apartment and some people only want a home.