By JAMES R. HAGERTY

U.S. home prices will begin a gradual recovery by next year, according a survey of 92 economists and other housing analysts by MacroMarkets LLC.

Separately, the U.S. Census Bureau reported that single-family housing starts in April surged to a seasonally adjusted annual rate of 593,000, up 10.2% from March. Ivy Zelman, chief executive of research firm Zelman & Associates, said builders stepped up production ahead of the April 30 deadline for sales qualifying for a federal tax credit, but since then have cut back.

Question is – can we wait?