Housing shows few signs of gaining momentum - Poll | Reuters

Housing shows few signs of gaining momentum - Poll | Reuters

House prices will likely end this year 2 percent lower before recouping some losses in 2012, according to the median forecast of 26 economists. In the last poll, in November, they forecast prices would be flat in 2011.

Respondents cited budget austerity measures, fresh signs of economic weakness and poor access to credit for first-time buyers as sources of uncertainty -- reflected in the wide range of forecasts, which went from a 10 percent drop in house prices this year to a 3 percent gain.

As homeowners face extra challenges from rising unemployment and high inflation, 2011 will likely prove a difficult year for homeowners.