Tampa Bay area home prices fell 3.2 percent in July compared with a year earlier, the third-highest drop among 20 metro markets tracked in the S&P/Case-Shiller home price index.
The index released Tuesday showed home prices nationwide were up 3.2 percent in July from a year earlier, with half the cities up for the year, some strongly. But the growth rate weakened considerably with the phase-out of home buyer tax credits crimping sales this summer.
Hardest-hit markets over the year were Las Vegas, down 4.9 percent, and Charlotte, N.C., down 3.5 percent. On the flip side, California led the market rebounders: San Francisco prices were up 11.2 percent since July 2009, followed by San Diego (up 9.3 percent) and Los Angeles (up 7.5 percent).
From June to July, Tampa Bay home prices were down a fraction, 0.2 percent, one of eight metros with a monthly drop. Unlike some home price measures based strictly on current sales, Case-Shiller's index tracks the actual value of specific single-family homes over time. Condos are not included.