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Tampa Bay home prices reach new low

Tampa Bay area home prices reached a new low in December, according to a Standard & Poor's/Case-Shiller home price index of 20 cities released Tuesday.

Tampa Bay area prices were down 4.3 percent from December 2010 and dipped 0.2 percent from November to December.

Atlanta, Las Vegas and Seattle also hit new lows. Property values in the 20 cities fell 4 percent drop from December 2010. The index does not list prices in dollar figures.

The Case-Shiller index is based on a three-month average, which means the December data included transactions in November and October. The index does not list prices in dollars.

Florida Realtors stated that in January the median price of single-family homes in the Tampa Bay area was about $117,000. According to the Realtors, the median price bottomed out during this economic downturn at $110,000 in January 2011.

Tampa Bay home prices reach new low 02/28/12 [Last modified: Tuesday, February 28, 2012 8:23pm]
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