REFILE-MidAmerican's Sokol sees US housing staying weak

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* Sokol sees housing markets out of balance through 2011

* U.S. unemployment seen exceeding 10 pct

* Sokol warns of unseen wave of selling pressure

* Sokol says US economy, markets need time to recover

By Joseph A. Giannone

NEW YORK, May 28 (Reuters) - David Sokol, chairman of Berkshire Hathaway Inc's (BRKa.N: Quote, Profile, Research) MidAmerican Energy Holdings and a contender to succeed Warren Buffett, warned that the U.S. housing market still has a ways to go before bottoming out.

Sokol, who leads one of the largest U.S. power utility and energy pipeline companies, also heads up HomeServices of America Inc, the second largest U.S. real estate brokerage, title and mortgage lending firm.

MidAmerican's brokerage operates in 28 of the largest U.S. markets, and Sokol said the supply of housing still far outstrips demand. In the meantime, the economy is sluggish, with Sokol seeing unemployment rates exceeding 10 percent.