Standard & Poor's experts believe that housing prices in the US will be reduced by 7-10% in the next year. Stabilization of prices in their opinion is not expected before the end of 2011. Cost reduction is largely due to low demand for housing, which persists despite record low mortgage rates. According to the latest price index, housing prices, after rising in the first half-year decline for the second month in a row. "We are seeing a decline in prices across the country, with the exception of seven states", - said Mark Fleming, chief economist for CoreLogic. According to the CoreLogic index most strongly in housing prices fell in Indiana (14%), Alabama (9%), Mississippi (8.3%), Florida (7.7%) and New Mexico (7.5%). Only seven states, including California and New York was marked by a slight increase in prices, not exceeding 3%. On this Site www.propertywire.com