Case Shiller Index: Tampa home prices back to Christmas 2004
Tampa area home prices fell 20.1 percent between June 2007 and June 2008, according to the highly regarded S&P Case Shiller home price index.
That put Tampa-St. Petersburg-Clearwater home prices back to December 2004 levels and 26.5 percent off the peak prices of July 2006.
The overall price decline on the 20-city index was 15.9 percent. Once again, Tampa dangled near the middle of the pack. Six metro areas showed steeper price drops: Las Vegas, Los Angeles, Miami, Phoenix, San Diego and San Francisco. Charlotte was least affected by home price depreciation, with a decline of 1 percent.
Case Shiller's reports lag a month behind home price reports put out by Realtors, but they generally get the nod for accuracy. The index tracks multiple sales of individual properties, ensuring apples-to-apples comparisons.
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Housing market news is the focus of the (Un)Real Estate blog. It offers an inside look at the Florida housing market and real estate news, with a focus on Tampa Bay. Its goal? Simple: To help you keep a roof over your head without losing your shirt.
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