BOISE -- While some experts say there are signs that the economy is recovering, home sales aren't one of those signs.

In fact, national home sales for 2010 were the lowest they've been in 47 years.

Forbes Magazine projects home sales in Boise for this upcoming year to actually decline seven percent - one of the worst declines in the country.

And over the next three years it doesn't look much better.

They're just about every where you look -- for sale signs, foreclosures and abandonded homes.

The hope is that the housing market has hit rock bottom, but some experts say that hasn't happened yet.

It's kind of grim. I would prefer to see some appreciation occuring here, but I realize there are still quite a number of houses still on the market, said Boise homeowner Rich Howard.

Howard is retired and has no plans on selling his home, but when he heared about Frobes projecting a seven percent decline in his home value over the next year, he's a little worried.

The county is certainly going to suffer with respect to its overall tax base, said Howard. That eliminates some options and flexibility that it would have.

Last week, John Eaton with the Idaho Association of Realtors, gave a presentation to a group of legislators.

He said that while the nation saw a slight uptick in new home sales, Ada, Canyon and Twin Falls counties all saw a significant increase in home sales. The numbers are comparable to 2001 and 2002.

However, prices were down five percent in Ada and Canyon counties.

And almost half of home sales are from short sales, foreclosure or bank-owned properties.

It's a little bit like what I went through in Las Vegas. I hope that it's not right, but if it is, it is pretty scary, said Lynn Kent.

Lynn Kent moved to Boise after losing her home in Las Vegas.

In my opinion it was going to get worse before it got better, said Kent. When are we going to stop saying that though? Why don't we stop saying it tonight? Turn it around. Turn it around. Start reinvesting. Easy for me to say. I'm reemployed, got a job, but for those people who have lost their jobs, it's hard, and I don't know that it's going to get better anytime soon for them.

That seven percent decline that Forbes projects for the next year is expected to improve over the next three years, but not much.

The three-year projection has Boise home prices decreasing by an average of three percent.

The Federal Reserve says that the economic outlook is improving, but this housing slump is working against that outlook.

Analysts say unlike other downturns, the damage caused by the mortgage crisis, a flood of foreclosures and falling home values have kept the market from playing a star role in this recovery.

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