PO Box 1212
Tampa, FL 33601

Pinellas
(727) 726-8811
Hillsborough
(813) 258-5827
Toll Free 1-888-683-7538
Fax (813) 258-5902

Click For A FREE Quote
TOOLS
CONVERSION CHART
STANDARD DEVIATION
MORTGAGE CALCULATOR

Updated November 2024


RETURN TO NEWS INDEX

Housing prices take a hit nationwide
By Staff Report
Tampa Tribune
Published: May 13, 2009

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



| INTRO | FAQ | RESIDENTIAL | COMMERCIAL | NEWS | RESOURCES | TOOLS | TEAM | CONTACT | CLIENTS LOGIN | PRIVACY |

FacebookTwitterLinkedin
Copyright 1999-2024, Appraisal Development International, Inc