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Home prices expected to fall 0.7 percent in 2012

Economists expect home prices to fall 0.7 percent in this year, according to a report Zillow released this week.

That’s a more pessimistic view than the expectation of a 0.2 percent decline reported in a survey released by Zillow in December.
The March survey was compiled from the responses of 104 economists, real estate experts and investment and market strategists who shared their predictions about what the Standard & Poor’s/Case-Shiller home-price index will do over the next five years.

Home prices are expected to appreciate 3.36 percent by 2016.

Pulsenomics conducted the Home Price Expectations Survey from March 1 to 14.

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