Double Dip in 2011: How Will Your Market Fare?

Double dip in housing prices expected in 2011
Double dip in housing prices expected in 2011

The sky isn't falling just yet, but it may be wise to prepare the storm shed. Real estate analyst firm Clear Capital released new figures on Thursday suggesting that a double dip in housing prices is coming, but will not occur until at least spring 2011.

This isn't cause for celebration, however -- it merely implies that we have a cushion until prices sink below 2009 levels. National quarterly price gains dropped 2.2 percentage points from last month, and in the wake of the homebuyer tax credit, analysts expect the downward trend to continue.

The first sign to confirm analysts' fears of an impending double-dip arrived with June's existing home sales report, which marked the lowest sales level for the month since 1999.