Home prices hit new post-bubble lows in March, according to a report out Tuesday.
Average home prices were down 2.6% from 12 months earlier, according to the S&P/Case-Shiller home price index of 20 major markets. Home prices have not been this low since mid-2002.
“While there has been improvement in some regions, housing prices have not turned,” said David Blitzer, spokesman for S&P.
Although five cities — Atlanta, Chicago, Las Vegas, New York and Portland — saw average home prices hit new lows, that’s an improvement from last month’s report, in which nine cities notched new lows, Blitzer noted.