Home prices dropped 4.1% annually, in 2010. Although there was an increase in prices, overall 70% of the major market prices experienced a decline and 8 had double digit declines. There were 6 markets in California that managed to have some price gain.
Unfortunately, 2011 will probably be the same, unless unemployment and distressed homes decrease. Until there are more jobs and less people loosing their homes, we will not see too many price gains.
- Calif. home prices decline again (lansner.ocregister.com)
- California home prices increase slightly in 2010(fresnobeehive.com)
- U.S. Home Prices to Decline Another 3.7% in 2011, Says New Clear Capital Report(realestatechannel.com)
- Banks Repossess 1 Million Homes in 2010 (time.com)
- 2011 to top 2010 record of 1 million foreclosures(thenewstribune.com)
- Repossessions hit record – and ’11 will be worse(msnbc.msn.com)
- 2011 Could Be The Worst Year In The History Of Real Estate(realestateradiousa.com)
- November Home Prices Down 5%, More Downside Expected(bloggingstocks.com)
- 1 million homes repossessed in 2010 — 2011 will be worse(thegrio.com)