Double Dip?

According to CNBC's Diana Olick, a 17% drop in the number of new home sale contracts signed in February of this year, combined with an 8.9% drop in new home prices, could indicate the second hit in a double dip housing crash. Of course, the unrest in the Middle East and the crisis in Japan are having an effect on equity markets that likely acts as a drag on the recovery as well. On the other hand, the drop in the unemployment figure and an increase in consumer spending could create the impetus needed to bring real buyers back to the market rather than just opportunistic investors.