The Real Deal Miami

Home prices are double dipping: report

October 22, 2010 03:30PM

A new report from valuation firm Clear Capital shows that home prices are double dipping, CNBC’s Diana Olick reports in the video above. Clear Capital put out an alert because they saw “staggering numbers,” Olick said, with home prices dropping nearly 6 percent, and wiping out the gains which were observed last spring from the homebuyer tax credit. More losses are predicted for the coming winter months, as well, possibly another 10 percent on top of what’s been observed so far. Meanwhile, Bank of America and GMAC have said they will start sales again, which will result in “more inventory coming into a very difficult market,” Olick added.