National home prices continue to slide

Economists say home prices nationwide may soon be heading for a double-dip, as the latest S&P/Case-Shiller home price index showed that home values have continued to slump following the expiration of the first-time homebuyer tax credit.

According to the report, each of the 20 cities included in the study saw prices fall from September to October, with the overall average slipping 1.3 percent. Over the past 12 months, prices in those cities are down 0.8 percent, a trend economists feel may continue.

"The trends we have seen over the past few months have not changed. The tax incentives are over and the national economy remained lackluster in October," said David M. Blitzer, chairman of the Index Committee at Standard & Poor's. "Existing homes sales and housing starts have been reported for both October and November, and neither is giving any sense of optimism."

According to the report, six of the 20 cities included in the report have now fallen to new lows since the fall of the housing market.

Even with recent home price drops, the value of Houston homes has continued to stay steady. According to a report last month from the Federal Housing Finance Agency, home prices in Houston were up nearly 3 percent over the past 12 months.