Alert: List of Housing Markets in Decline or Correction

Moody's Economy.com recently released a list of housing markets that have potential for more than 10 percent house price declines, though chief economist Mark Zandi said these markets will "correct, not crash." Here's what they listed as reported by the Nation's Building News:

--Arizona: Phoenix, Flagstaff, Prescott, Tucson--

California: Bakersfield, Chico, Fresno, Hanford, Los Angeles, Merced, Modesto, Napa, Oakland, Oxnard, Riverside, Sacramento, Salinas, San Diego, San Jose, San Luis, Santa Ana, Santa Barbara, Santa Cruz, Santa Rosa, Vallejo, Visalia--

Connecticut: Bridgeport, Norwich--

Florida: Miami, Orlando, Cape Coral, Deltona, Ft. Lauderdale, Fort Walton Beach, Gainesville, Naples, Pensacola, Port St. Lucie, Punta Gorda, Sarasota, Tampa, Vero Beach, West Palm Beach--

Midwest: Chicago, Detroit, Lansing, Minneapolis, Warren--

Maryland: Baltimore, Bethesda--Massachusetts: Barnstable Town, Boston, Cambridge, Essex--

Nevada: Las Vegas--

New Jersey: Atlantic City, Ocean City, Edison, Newark, Trenton--

New York: New York City, Nassau--

Rhode Island: Providence--

Pennsylvania: Lancaster--

Washington, D.C.