What will the 2011 housing market look like?

The WSJ published an article today (which you can see HERE) speculating on the housing market in 2011.  Here are some interesting tidbits…..

*(2011) could very well be a peak year for foreclosures, says Rick Sharga, a senior vice president at RealtyTrac, an online marketplace for foreclosure properties…That’s partially due to issues the industry has faced with foreclosure processing that began in the fall and delayed a portion of foreclosures from being completed this year, he says.

*For the longer term, however, the outlook for the foreclosure market is better since fewer homeowners are becoming delinquent on their mortgage payments. Thirty-day delinquencies are down 11% since the height of the recession in the first part of 2009…

*High housing inventory, along with high unemployment, will likely add up to continued depressed home prices in the year ahead in many markets…

*(Analysts) are looking to 2012 for anything resembling a recovery in housing.