Homeowners and investors holding their breath after U.S. home prices made a double dip in the first quarter may still be left waiting to exhale. According to a report released today by data and valuation firm Clear Capital, five housing markets are likely to make modest gains in sale prices in the second half of 2011, including the resilient Washington, D.C., metro area. The firm tracked 50 metropolitan statistical areas for the report. While a few areas have regained their footing, many of even the country’s next best-performing metros are expected to see minor price drops. In the first three months of 2011, home sale prices fell 4.1 percent over the previous quarter and rose only 0.9 percent in the second quarter, according to Clear Capital estimates.

Still, it is unlikely that they have reached a true and sustainable bottom, because of high unemployment, poor consumer confidence, and the large number of bank-owned properties for sale, judges Clear Capital, which expects prices to fall another 2.4 percent in the second half of 2011. The good news? "The moderation of the projected price changes generally reflects a flattening market," states the report. Wild sales and price swings of the past two years—which resulted from temporary boosts from homebuyer tax credits—should level off, the firm predicts.
Homeowners and investors holding their breath after U.S. home prices made a double dip in the first quarter may still be left waiting to exhale. According to a report released today by data and valuation firm Clear Capital, five housing markets are likely to make modest gains in sale prices in the second half of 2011, including the resilient Washington, D.C., metro area. The firm tracked 50 metropolitan statistical areas for the report. While a few areas have regained their footing, many of even the country’s next best-performing metros are expected to see minor price drops. In the first three months of 2011, home sale prices fell 4.1 percent over the previous quarter and rose only 0.9 percent in the second quarter, according to Clear Capital estimates.

Still, it is unlikely that they have reached a true and sustainable bottom, because of high unemployment, poor consumer confidence, and the large number of bank-owned properties for sale, judges Clear Capital, which expects prices to fall another 2.4 percent in the second half of 2011. The good news? "The moderation of the projected price changes generally reflects a flattening market," states the report. Wild sales and price swings of the past two years—which resulted from temporary boosts from homebuyer tax credits—should level off, the firm predicts.

America’s Next Best-Performing Housing Markets

 Modest Outlook for the Rest of the Year
Modest Outlook for the Rest of the Year
Homeowners and investors holding their breath after U.S. home prices made a double dip in the first quarter may still be left waiting to exhale. According to a report released today by data and valuation firm Clear Capital, five housing markets are likely to make modest gains in sale prices in the second half of 2011, including the resilient Washington, D.C., metro area. The firm tracked 50 metropolitan statistical areas for the report. While a few areas have regained their footing, many of even the country’s next best-performing metros are expected to see minor price drops. In the first three months of 2011, home sale prices fell 4.1 percent over the previous quarter and rose only 0.9 percent in the second quarter, according to Clear Capital estimates.

Still, it is unlikely that they have reached a true and sustainable bottom, because of high unemployment, poor consumer confidence, and the large number of bank-owned properties for sale, judges Clear Capital, which expects prices to fall another 2.4 percent in the second half of 2011. The good news? "The moderation of the projected price changes generally reflects a flattening market," states the report. Wild sales and price swings of the past two years—which resulted from temporary boosts from homebuyer tax credits—should level off, the firm predicts.
No. 15 Next Best-Performing Housing Market: Riverside-San Bernardino-Ontario, Calif.
No. 15 Next Best-Performing Housing Market: Riverside-San Bernardino-Ontario, Calif.
Forecast price change, July to December 2011*: -1.7%
Observed January to June 2011*: -3.9%

*Source on all slides: Clear Capital
No. 14 Next Best-Performing Housing Market: San Jose-Sunnyvale-Santa Clara, Calif.
No. 14 Next Best-Performing Housing Market: San Jose-Sunnyvale-Santa Clara, Calif.
Forecast price change, July to December 2011: -1.6%
Observed January to June 2011: -0.3%
No. 13 Next Best-Performing Housing Market: Charlotte-Gastonia-Concord, N.C.-S.C.
No. 13 Next Best-Performing Housing Market: Charlotte-Gastonia-Concord, N.C.-S.C.
Forecast price change, July to December 2011: -1.4%
Observed January to June 2011: -0.6%
No. 12 Next Best-Performing Housing Market: Miami-Fort Lauderdale-Miami Beach, Fla.
No. 12 Next Best-Performing Housing Market: Miami-Fort Lauderdale-Miami Beach, Fla.
Forecast price change, July to December 2011: -1.2%
Observed January to June 2011: 0.6%
No. 11 Next Best-Performing Housing Market: Los Angeles-Long Beach-Santa Ana, Calif.
No. 11 Next Best-Performing Housing Market: Los Angeles-Long Beach-Santa Ana, Calif.
Forecast price change, July to December 2011: -1.0%
Observed January to June 2011: -2.0%
No. 10 Next Best-Performing Housing Market: Memphis, Tenn.-Miss.-Ark.
No. 10 Next Best-Performing Housing Market: Memphis, Tenn.-Miss.-Ark.
Forecast price change, July to December 2011: -1.0%
Observed January to June 2011: -7.1%
No. 9 Next Best-Performing Housing Market: Rochester, N.Y.
No. 9 Next Best-Performing Housing Market: Rochester, N.Y.
Forecast price change, July to December 2011: -0.9%
Observed January to June 2011: 0.7%
No. 8 Next Best-Performing Housing Market: San Diego-Carlsbad-San Marcos, Calif.
No. 8 Next Best-Performing Housing Market: San Diego-Carlsbad-San Marcos, Calif.
Forecast price change, July to December 2011: -0.8%
Observed January to June 2011: -2.1%
No. 7 Next Best-Performing Housing Market: Honolulu, Hawaii
No. 7 Next Best-Performing Housing Market: Honolulu, Hawaii
Forecast price change, July to December 2011: -0.5%
Observed January to June 2011: -6.1%
No. 6 Next Best-Performing Housing Market: Boston-Cambridge-Quincy, Mass.-N.H.
No. 6 Next Best-Performing Housing Market: Boston-Cambridge-Quincy, Mass.-N.H.
Forecast price change, July to December 2011: -0.1%
Observed January to June 2011: -2.8%
No. 5 Next Best-Performing Housing Market: San Francisco-Oakland-Fremont, Calif.
No. 5 Next Best-Performing Housing Market: San Francisco-Oakland-Fremont, Calif.
Forecast price change, July to December 2011: 0.2%
Observed January to June 2011: -3.9%
No. 4 Next Best-Performing Housing Market: Dallas-Fort Worth-Arlington, Tex.
No. 4 Next Best-Performing Housing Market: Dallas-Fort Worth-Arlington, Tex.
Forecast price change, July to December 2011: 0.3%
Observed January to June 2011: -5.1%
No. 3 Next Best-Performing Housing Market: Orlando, Fla.
No. 3 Next Best-Performing Housing Market: Orlando, Fla.
Forecast price change, July to December 2011: 0.7%
Observed January to June 2011: -0.1%
No. 2 Next Best-Performing Housing Market: New York-Northern New Jersey-Long Island, N.Y.-N.J.-Pa.
No. 2 Next Best-Performing Housing Market: New York-Northern New Jersey-Long Island, N.Y.-N.J.-Pa.
Forecast price change, July to December 2011: 2.6%
Observed January to June 2011: 1.9%
No. 1 Next Best-Performing Housing Market: Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.V.
No. 1 Next Best-Performing Housing Market: Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.V.
Forecast price change, July to December 2011: 2.8%
Observed January to June 2011: 4.4%