Tampa area home sales post July rebound

Another sign that home sales are no longer skydiving without a parachute? The Greater Tampa Association of Realtors showed July home sales rising 5 percent over those in July 2007.

GTAR reported 1,336 sales in July 2008, 68 more than the 1,268 reported a year earlier. The association includes home sales from east-central Pasco County in its tabulations.

One reason for the sales improvement is that prices have taken a pounding. They're down 16 percent in the July-to-July period. The average home sales price in July 2007 was $269,058. A year later the average price was $225,692.

The top July for sales was 2,932 homes in 2005. This year's showing is 54 percent below that peak.