Experts: Declining home prices have no relief in sight

Declining home prices might not improve until 2013, some experts believe.CNNMoney recently surveyed a panel of economists regarding the nation's continued declining home prices. The consensus among the experts is that relief could be further away than most had hoped.In all, 27 economists weighed in on the current housing market, a majority of which believe the sector is in for more troubles, which won't be solved until possibly 2013.Twenty two of the surveyed economists had predicted a decline for the recent Case-Shiller home price index, the median of their forecasts being a 3.9 percent reduction for the second quarter of 2011 and a 2.9 percent drop for the year. Just three of the economists believed the national home prices would improve during 2011.When asked about 2012, a majority of the economists predicted a 6 percent jump, however, six experts still felt prices would fall.The Federal Housing Finance Agency recently provided data regarding home sales during April, which revealed prices of properties in Texas increased 2.1 percent, the largest jump in more than a year. Despite the declining national trend, the Dallas, Fort Worth and Houston real estate markets are still showing progress.Courtesy of 2M Realty News?

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