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As Tampa Bay home prices plummet, sales go up

January home sales rose 19 percent year over year in Hillsborough County and parts of Pasco County. Prices plunged 35 percent over the same January-to-January period. According to the Greater Tampa Association of Realtors, sales totaled 942 in January compared with sales of 791 in January 2008. The average price last month was $160,530. A year earlier it was $246,260. Sales of distressed properties, some in foreclosure, accounted for much of the rise in closings, though prices suffered as a result. Another sign of encouragement: The inventory of homes for sale stood at 17,733 in January, about 2,500 fewer than a year earlier.

As Tampa Bay home prices plummet, sales go up 02/11/09 [Last modified: Wednesday, February 11, 2009 8:14pm]
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