Investing in real estate in California, Nevada, Florida, and Arizona might not be a good idea for the next ten years, if a new report is to be believed. According to financial services provider Fiserv, housing markets that registered the highest inflation in home values, such as the four aforementioned states, will not see a return of peak-level property prices before 2025.

Based on the Fiserv Case-Shiller indices measuring historical home price data and forecasts for more than 375 housing markets, real estate markets across the country are expected to vary widely in recovery times. “Nationally, Fiserv Case-Shiller data points to a further 7% decline in home prices through the end of this year, with a prolonged recovery beginning early in 2011. In many markets, the emphasis is on the word ‘prolonged,’” Fiserv chief economist David Stiff said in a statement.

However, Stiff stressed that the data is not “uniformly grim” across all states. Some real estate markets are expected to return to peak-level property prices within the next few years. A number of trends, such as rising home sales, indicate that some areas are steadily recovering from the housing crisis. The report added that areas such as Columbia, South Carolina; Pittsburgh, Pennsylvania; and several metropolitan areas in Washington, Texas, and upstate New York could return to peak-level home values before 2013.

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