The real estate market still has not hit rock bottom – according to a report our by the Urban Land Institute and PricewaterhouseCoopers, investors and real estate professionals can expect the market to continue to decline through 2009 and slump in 2010.

The report projects 15 percent to 20 percent losses in real estate values next year from the mid-2007 peak on a national level.

The slump is particularly bad in suburban markets and home sales; downtown properties will be more insulated from the trend.