Fewer U.S. homeowners expect the value of their homes to decline in the year ahead, but they also believe gains are unlikely, according to a Thomson Reuters/University of Michigan survey published Friday.

The proportion of homeowners that expected declines in the value of their homes in the year ahead fell to 15 percent in January, the lowest level since early 2007.

That is down from 16 percent in the fourth quarter, and sentiment has improved over the past year. In the first quarter of 2009, 26 percent expected their home value to decline.

The mean anticipated annual gain over the next five years held steady at 2.7 percent in January. Given consumers’ long-term inflation expectations, a zero inflation-adjusted gain was expected.

Last month, 46 percent said their homes decreased in value during the past year, while 14 percent said they increased.

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Souce : CNBC.COM/Routers