Halifax has recently released information regarding house prices falling. February saw a decline which was faster than the previous twelve months. This is creating more concerns about the already struggling housing market recovery.

The real estate housing company reported house prices fell almost 1% during the month of February. This was in direct contradiction of the 0.8% rise which occurred during January. The cumulative effect for the three months leading up to February was a decline in house prices of almost 3%. This equaled the largest annual drop in the prices of houses since the beginning of the fourth quarter of 2009.

The other interesting point is the contrast in figures compared with Nationwide last week. They reported a house price increase of 0.3% for the month of February. The figures reported by Halifax were also double compared to what analysts had forecasted.

Halifax has released expectations about 2011, indicating they expect house prices to decrease by an estimated 2%. This directly ties in with the uncertainty which exists in the housing market recovery.

Howard Archer, lead economist at IHS Global Insight, weighed in on the growth or contraction of the housing market in the coming months, saying: "It is clear that critical to the development of house prices over the coming months will be the amount of houses coming onto the market, mortgage availability, how well the economy and jobs hold up as the fiscal squeeze increasingly kicks in, and what happens with interest rates."

Uncertainty about the housing market has put the brakes on many homeowners’ decision to put their house on the market.