Zillow: 20 percent of U.S. housing markets likely to double-dip

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Stan Humphries, chief economist at Zillow, sat down with Fox Business last week to discuss the possibility of a double-dip in the housing market (click here to watch the clip). While home values stabilized to a large extent during 2009, data from the very end of the year was worrisome, Humphries said. Some metropolitan areas, like Oklahoma City and Harrisburg, Penn. are already experiencing a double-dip, while cities like Los Angeles and New York did not see declines in December but saw the rate of increase in home values slow. According to Humphries, 20 percent of Zillow.com’s top 143 markets had the “first precondition for double-dip switches, which is five consecutive months of depreciation in 2009.” [Fox Business]