Foreclosure signs are overtaking the housing market in 20 major U.S. cities. (AP)

Statistics released today from the Standard & Poor’s/Case-Shiller index of January’s home prices show a decline.

January was the sixth month in a row for a fall.

According to the S&P/Case-Shiller index, prices in 20 U.S. cities dropped an average of 3.1% in January from the same month a year earlier and 1% from December.

San Diego and Washington are the only two cities to show positive year-over-year numbers.  San Diego is up 0.1% and Washington 3.6% (latimes.com)

This wasn’t the only negative hit to the housing market this year.  Sales of existing homes were off almost ten percent in February and new home sales were at a record low.

“The housing market recession is not yet over and none of the statistics are indicating any form of sustained recovery,” S&P spokesman David M. Blitzer said (cnnmoney.com).

After these troubling statistics, Blitzer says Americans should prepare for a double dip recession.