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PO Box 1212 Tampa, FL 33601 Pinellas Updated November 2024
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RETURN TO NEWS INDEX Housing prices take a hit nationwide Home prices fell in nearly 90 percent of U.S. cities in the first quarter of this year. The increasing pace of foreclosures pushed prices lower but helped spur sales. Here are some of the highlights from two reports released Tuesday. Where prices fell The median sales price of existing homes declined in 134 of 152 metropolitan areas when compared with a year ago. The biggest drop, of more than 50 percent, was in Fort Myers. Prices fell 40 percent or more in Saginaw, Mich.; Akron, Ohio; San Francisco; San Jose, Calif.; Phoenix; Sarasota; and Riverside, Calif. Where prices rose In 18 cities, prices rose. The biggest price gain, of more than 21 percent, was in Cumberland, Md. The only other double-digit increase was in Davenport, Iowa, which saw the median price climb nearly 14 percent. Where the sales are When it comes to sales of existing homes, only six states saw increases. They also are among the states with the worst foreclosure rates: Nevada, California, Arizona, Florida, Virginia and Minnesota. More foreclosures Foreclosure activity remains at record levels, with one of every 374 homes nationwide in some state of foreclosure. That's 32 percent more than a year ago. Nevada, Florida and California topped the list. One in every 135 Florida homes is in foreclosure. LOCAL SNAPSHOT $130,800 Median home price in Tampa in first quarter $179,600 Price in Tampa in first quarter of 2008 27 Percent decrease 202 One in every 202 homes was in foreclosure in the Tampa area in March 18 Percent rise in sales of existing homes in Tampa during first quarter Sources: National Association of Realtors, RealtyTrac, The Associated Press |
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