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Tampa Bay home sales and prices jump up in December

New Year's Eve rang in another rebounding month for Tampa Bay's housing market, where home sales jumped 18 percent over December 2011, Multiple Listing Service data show.

Last month's single-family median home prices also jumped 12 percent over the past year, to about $140,000, continuing a steady climb out of the wreckage of the housing crash.

2012 marked the year when diving prices finally pivoted up, rising 10 percent from 2011, MLS data shows.

The typical time it took for homes on the market to come under contract dropped in 2012 to about six weeks, the lowest it's been in six years. That's a sign that the tight local housing supply is leading buyers to jump at good deals.

But the time it took for those same sales to actually close remained stubbornly high, at about 14 weeks, data show. That's mostly due to the boom in sales of homes for less than the owner owes the bank. Those "short sales" make up a quarter of all sales and depend on the bank's approval, a process that can take several months.

Tampa Bay home sales and prices jump up in December 01/08/13 [Last modified: Tuesday, January 8, 2013 6:40pm]
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