Real estate market to hit bottom in 2011?

Altos Research: U.S. home prices to fall 5-10% more

Get smarter. Grow your referral network at Inman Connect San Francisco
Limited seating still available, July 17-20

Next year, housing prices will likely drop 5 to 10 percent nationally — finally hitting a trough, according to a webcast by real estate data company Altos Research.

"Prices are going to go down a little bit more, and if there’s nothing but bad news out there, (which is) what we’re seeing, then that must mean that at some point we are hitting the trough, and we feel that 2011 is finally going to be that point," said Scott Sambucci, the company’s vice president of data analytics.

"That doesn’t mean that we’re instantly going to bounce out of the trough. Expect local price volatility," he added.