While most housing analysts believe there will be no double-dip recession, the number of foreclosures will continue to hound the industry in 2010.
"The only guys predicting a double-dip recession are guys who want to make a name for themselves," said John Tuccillo, national residential consultant and the former chief economist of the National Association of Realtors.
"If they can call this one right, everybody will remember them. But, in reality, it will be a long, grinding, slow recovery. Banks are sitting on too much cash now for a double dip, and I don’t think most people see that happening."