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by CareyBot

Real estate prices sank from November 2009 to November 2010 in 16 of 20 metro areas tracked in a monthly Standard & Poor's-Case-Shiller index, according to a report released today. "(The) data points to weakness in home prices. With these numbers more analysts will be calling for a double dip in home prices," said David M. Blitzer, chairman of the Standard & Poor's Index Committee, in a statement. "Let's take a moment to define a double dip as seeing the 10- and 20-City Composites set new post-peak lows. The series are now only 4.8 percent and 3.3 percent above their April 2009 lows, suggesting that a double dip could be confirmed before spring." He added that there were new lows in nine metro areas tracked by the price indices, "with the only pos...