TAMPA - Home prices in most areas nationally and locally were positive in April, and economists are braced for falling prices now that federal tax incentives have expired.

Prices in the Tampa-St. Petersburg-Clearwater metro area squeezed out a 0.5 percent monthly increase in April but fell 2.4 percent compared with the previous year, according to the Standard & Poor's/Case-Shiller home price index released Tuesday.

The 20 cities tracked by the index showed a monthly gain of 0.8 percent, the first in seven months. Prices rose 3.8 percent from the same month last year. They still remain 30 percent below their July 2006 peak.

Eighteen of 20 cities showed price increases in April from March. Washington, San Francisco and Dallas each posted gains of 2 percent or more. Eleven cities reversed their declines from the month before.

Miami, the only other Florida city tracked, saw prices drop 0.8 percent from March and 0.5 percent from a year ago. The only other city with a monthly drop was New York, which saw prices fall 0.3 percent.
Economists attributed gains to the flurry of sales activity as buyers take advantage of tax credits, which ended in April.

"Demand for homes has softened since then, and that is likely to weigh on prices, particularly in May and June," wrote TD Bank Financial Group economist Martin Schwerdtfeger on Tuesday.

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