Brought to you by WBIW News and Network Indiana
Last updated on Wednesday, June 1, 2011
(UNDATED) - Home prices are dropping to a new low.
The latest S&P/Case-Shiller Report shows the national home price index dropped by 4.2% during the first quarter.
Analysts called the data further evidence of a continuing "downward spiral" in home prices.
However, Greg Cooper of Prudential Realty Richwine Group says it's not as bad in Indiana.
He says the numbers don't reflect the climate in Indiana. He says it's much worse in places like Las Vegas, Phoenix/Scottsdale, Southern California and parts of Florida because there were hundreds of homes built with the exact same floorplan, and Indiana doesn't have that.
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