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2010 housing recap shows poor year, expects similar numbers in 2011

Clear Capital projects similar home prices this year as 2010.

Clear Capital projects similar home prices this year as 2010.

Clear Capital's Home Data Index Market Report was released this week, showing a year-over-year decrease in the national home price of 4.1 percent, and estimating 2011 will endure a similar drop of 3.7 percent.

The HDI report shows home prices in 2010 were volatile, as there was a 21-week period where prices increased 9.7 percent and a 9.4 percent decline over the following 19 weeks.

"In terms of home prices, this past year has certainly been characterized by uncertainty," Dr. Alex Villacorta, senior statistician at Clear Capital, said in the report.

According to the report, 50 major housing markets in the U.S. will experience a price drop of approximately 3.6 percent, with prices in the first half of the year remaining stable and only 14 of the 50 markets expected to show pricing gains in the second half of 2011.

The Home Buying Institute stated in October the projected 30-year average fixed mortgage rate for 2011 will be around 5.1 percent, with an increase in home sales of about 30 percent from 2010.