TAMPA - After four months with no declines in monthly home prices, Tampa bucked the national trend in October by recording the largest drop among 20 cities measured in a private survey.
Greater Tampa saw a 1.6 percent decline in home prices compared with the previous month and a 15.2 percent drop from the same month a year ago, according to the S&P/Case-Shiller Home Price Indices.

Nationally, prices in the 20 cities were flat in October, indicating a possible stabilization in some areas. Home prices nationwide rose in October for the fifth consecutive month.

Eleven of the 20 metros tracked showed gains, but some areas, including Tampa, were still having trouble.

The news is especially disappointing for Tampa because so many experts thought prices had stabilized.

"In any month, there are ups and downs, but this is surprising for Tampa after months of consistent gains," said David Blitzer, head of the index board.

October's decrease comes after a 0.6 percent decrease from August to September and monthly increases of 0.4 percent, 1.4 percent and 0.4 percent, respectively, in reports for August and July and June.

Even worse than this month's decline, the home price index for Tampa hit 140.27 in October. That's the lowest it's been since home prices peaked in greater Tampa in July 2006, when the index was 238.09.

That means prices are at their lowest since the peak. S&P started the index at 100 for all cities during the year 2000.

Chicago and Atlanta saw the next biggest declines. Both cities had drops of 1 percent. Phoenix and San Francisco posted the largest monthly increases, 1.3 percent and 1.2 percent, respectively.

Nationally, the home price index edged up 0.4 percent to a seasonally adjusted reading of 145.36 in October. The index was off 7.3 percent from October 2008.

The index is up 3.4 percent from its bottom in May but still almost 30 percent below its peak in April 2006.

Information from The Associated Press was used in this report. Reporter Shannon Behnken can be reached at (813) 259-7804.