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Tag Archives: Double Dip

National Home Prices Down 5.8%, Major Metros See Double Dip: Report

The November home market report from Clear Capital shows that prices nationally fell another 5.8 percent over the previous three months. The company says although the pace of decline has slowed, home prices show no signs of bottoming out yet. Thirteen of the 50 major metros in the study have already entered into double-dip territory, indicating that their current price levels are the lowest since the housing downturn began. Among them are Vegas, Seattle, Tucson, Philadelphia, and several major Florida markets.

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National Home Prices Down 5%, Local Pockets See Gains: Clear Capital

Home prices continue to plunge across much of the U.S., according to Clear Capital, but the company says it's seeing trends at the micro-market level which give credence to the old adage that real estate is local. Clear Capital's home price report released Tuesday shows that residential values at the national level are down 5 percent for the three months ending in October. Several markets in the East are bucking the national trend and posting gains, but Clear Capital also names six markets that have already entered double dip territory.

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Capital Economics Warns of Another Dip Ahead

The analysts at Capital Economics say that dreaded double-dip is already underway, in both housing activity and residential property prices. The research firm is forecasting home prices in the United States to steadily decline over the next 12 months and have fallen back by over 5 percent by the end of next year, taking them to a new cycle low. The company's analysts say there are currently about 1.5 million too many homes up for sale, and that excess supply will likely grow by another 4.9 million due to elevated foreclosure activity.

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Moody’s Forecast for Housing and the Economy: Dim

The analysts at Moody's are downbeat in their outlook for both the U.S. economy and the housing market. They warn that the there's a stronger chance the country will slide back into a recession, and they are forecasting a longer and deeper housing correction. Because of weak housing demand, soft job creation, and the slow speed at which the industry is working through distressed mortgages, Moody's says recovery is already back-sliding into a double-dip. The agency expects house prices to fall until the third quarter of next year.

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Report: Price Gains Narrow, but Double Dip Not Expected…until Spring

A study released by Clear Capital Thursday shows that quarter-over-quarter home prices were up 5.7 percent in August, compared to the previous month's reading. It's a gain, but the company says price increases are beginning to narrow and appear to be poised for a descent. Even with the slowdown, Clear Capital's assessment is that home prices won't fall below the lows seen in 2009 and bring about that dreaded double dip...at least not until next spring.

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