Sure, that likely isn't new news to you. Home prices have been falling for some time and the national media is covering the reports as often as they can.
While I don't believe in the concept of a 'national' housing market, the factors that are affecting many markets all over this great country are based in similar fundamentals. Mainly supply and demand factors... as in tons of units on the market... and fewer buyers in the market. Same old -- same old.
Here is the article that talks about the record drop in prices for the 'national' market.