It looks increasingly more likely that the country may experience the dreaded "double-dip" in housing prices according to the S&P/Case-Shiller Home Price Indices released today. The indices reflect data through November and show a deceleration in the annual growth of home prices nationally and in 17 of the 20 metropolitan statistical areas (MSAs) that create its indices. S&P/Case-Shiller analyzes its national sample of 20 MSAs individually and uses them to construct a 10- and a 20-City Composite Index. Both indices fell in November from October levels by 0.4 percent and 1.6 percent respectively and prices fell in 19 of the MSAs; only San Diego eked out a negligible 0.1 percent gain. The report states that "since May 2010, the housing market has experienced an unambiguous deceleration...(read more)
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Source: http://www.mortgagenewsdaily.com/01252011_home_prices_double_dip.asp
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