Most Americans appear to be waiting out the economic crisis before buying or selling a home, suggesting the U.S. housing market may not return to normal for at least a year or two, according to a poll conducted by Harris Interactive on behalf of the American Institute of Certified Public Accountants.

The vast majority of Americans, 79 percent, say they have no plans to buy or sell a home anytime soon. Among those Americans who intend to put their homes on the market or who plan to buy, 70 percent intend to wait one to two years or more before entering the market.

"For most Americans, their home is the largest investment they will make in their lifetimes and declining values are a threat to their financial well-being," said Carl George, chair of the AICPA’s National CPA Financial Literacy Commission. "“The U.S. economy is not likely to return to health until the housing market rights itself. This latest survey shows an increasing number of Americans are delaying buying a home because of fears about the economy and real financial pressures they face now."

U.S. policymakers are trying to revive the housing market by promoting easier refinancing and lower interest rates. The latest AICPA poll shows many homeowners who plan to sell, two-thirds, are waiting for home values to come back up before attempting to put their homes on the market. Eight percent of homeowners say they are simply seeking to refinance.

Meanwhile, 66 percent of Americans have seen home values falling in their local real estate markets. More than a fifth of those, 23 percent, estimated declines in home values fell more than 30 percent over the past two years, suggesting the decline in home prices may have wiped out the equity some Americans had in their homes.