Home Prices to See Slight Decline in 2012, Zillow Survey Shows

Home prices may fall slightly in 2012, according to projections released today by online real estate hub Zillow. Based on a survey of more than 100 economists, real estate experts and investment and market analysts, Zillow’s Home Price Expectations Survey shows a 0.7% decline in average home prices for 2012.

The estimate is down from survey’s previous projection that home values will lose 0.2% this year. Positive home appreciation is expected for 2013, at a rate of 1.39%—revised down slightly from a projection of 1.75% appreciation made in late 2011.

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Of those economists in the survey, the most optimistic project a 1% increase while the most pessimistic see additional losses of 2.8%. The most optimistic estimates show housing gaining 19% in value over the next five years .

Written by Elizabeth Ecker

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