Tampa home prices down, but not as wildly as out West
Local home prices down 18.1 percent in August. Pretty familiar, huh?
That's the latest from the S&P/Case-Shiller home price index, which lags other indexes by a month, but wins plaudits for its supposed accuracy.
Repeating the pattern of much of this year, Tampa was 7th worst on the 20-city Case-Shiller index. Aside from Miami, most of the blood was spilled out West.
Phoenix, Las Vegas and Miami showed price declines of about 30 percent. Also harder hit than Tampa were San Francisco, Los Angeles and San Diego.
Tampa's home prices have receded to December 2004 levels. The region's peak price wasn't reached until July 2006, and housing values in August had fallen 27 percent below that. Our market will likely see further depreciation, but we've probably seen the worst already.
Here's information and charts directly from Case-Shiller's site.
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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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