The economy continues to provide reason for concern, and the possibility of a double-dip recession remains high, according to Robert Shiller, professor of economics at Yale University and co-developer of Standard and Poor's S&P/Case-Shiller home price indexes.
Shiller recently told Reuters that he can't predict the path of home prices in the U.S., but believes the economy is in a precarious position.
"For me, a double-dip is another recession before we've healed from this recession ... The probability of that kind of double-dip is more than 50 percent. I actually expect it."
He added that when it comes to the future of home prices, he is taking a "wait-and-see" attitude.
In May, U.S. single-family home prices rose by more than expected, fueled by an upswing in spring sales as a result of homebuyer tax credits, according to the most recent Standard & Poor's/Case Shiller home price indexes.