Zillow Chief Economist Stan Humphries appeared live on FOX Business on Friday to discuss whether the housing market is at risk for a double-dip.
There was tremendous stabilization in home values in a lot of markets in 2009, but Zillow’s December data shows signs that momentum is starting to weaken. Metros like Harrisburg, PA and Oklahoma City are experiencing a double dip in home values, while Atlanta, Boston and Minneapolis saw an end to their streak of consecutive monthly gains. New York and LA saw a continued increase in home values on a month-over-month basis, but the rate of increase slowed.
Stan discusses why home values are falling and what we can expect to see in the coming months.