Values are very, very low. A few go through auction at decent prices, but not the majority, and it's rare you'll get anywhere near "what you expect" on trade.
In January, our '04 Suburban trade value ranged from $15-17k generally, according to the never correct online calculators (well, except for our '02 Avalanche back in '04 which we got the dead on Edmunds outstanding value for). From the GM dealer we always buy from, service at, etc., the best they could do was $11k. Earlier in November, looking at some crossovers, both in PA and NJ, we were offered $12k--thought it was a fluke then, but no.
I had a friend with access look up Manheim values, and these were pretty much dead on reality.
Knowing what was going to continue happening with truck & SUV values, we took it and never looked back. Miss it and sometimes can't believe how little such a big, useful, outstanding SUV was worth, but that's the market. SO glad to have the Malibu now, because even though the room isn't there, trying to trade it off now even 4 months later would be more of a nightmare.