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Case-Shiller index: Tampa Bay home prices rose a bit in June

Tampa Bay area home prices rose 1.3 percent from May to June, according to a Standard & Poor's/Case-Shiller 20-city home price index released Tuesday.

Nationally, prices rose 1.1 percent from May to June in the 20-city index that includes the Tampa Bay area. Nineteen of the 20 metropolitan regions covered in the report posted gains from May to June. Portland remained flat. Home prices are back to their early 2003 levels, the report said.

The report detailed mixed signals for recovery in home prices. None of the cities recorded new lows in June 2011. Eight cities where prices hit bottom in 2009 have remained above those lows. The Tampa Bay area, along with Detroit, Miami, Phoenix and Las Vegas, hit bottom in 2011. Tampa Bay area prices are down 7 percent from June 2010.

The shifts suggest that the housing markets are operating regionally, rather than as a national housing market where everything rose and fell together, the report said.

The Case-Shiller index does not list prices in dollars. Florida Realtors reported that the median price of a single-family home in the Tampa Bay area in July was $124,000.

Case-Shiller index: Tampa Bay home prices rose a bit in June 08/30/11 [Last modified: Tuesday, August 30, 2011 12:17pm]
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