The post title says it all: the March Case-Shiller report is out and US home values are still dropping significantly.
Here is Brent Hunsberger's write-up in the Oregonian and here is a nice sortable table from the Wall Street Journal. You can see from the latter that Portland has seen the fourth worst year over year drop in home values, but is one of the better markets in terms of monthly change, losing only 0.7% of value over the last month.
I had assumed this year (2011) would be one of bumps but no significant gain or loss. It'll take a minor recovery in the summer/fall for my prediction to come true and it is not looking so good right now.