I think the 24x is from brick and mortar retail establishments and was losely applied here years ago.
The more insecure the environment, the lower the prices.
It’s a good time to buy if you want to assume the risk, and a bad time to sell unless you need the cash badly.
I think prices are coming back up slowly, the fire sales appear to have stopped.
It’s a beleaguered industry and both buyers and sellers are taking risks. Personally I figure I am looking at 2 years of the same before things start looking up again.