Home prices down, especially in Portland

The S & P/Case-Shiller index of home prices for January 2011 for 20 cities came out today, and it shows a continued slide of home prices, as foreclosures stack up.  What is surprising is that Portland and Seattle are close to the top of the list in terms of declining home prices, even compared to cities which have been traditionally in the forefront of declines, like Detroit, Las Vegas, Los Angeles and Phoenix.  Portland home prices are at their lowest since January, 2005.