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Tampa Bay area home prices fell 22 percent in 2008, index shows
By Times staff Writer
St. Petersburg Times
Published: Feb 24, 2009

Tampa area home prices dropped 22 percent in 2008 and are down 35 percent since their July 2006 peak, according to the latest S&P/Case-Shiller home price index. Once again, the bay area ranks seventh from the bottom on the 20-city index. Price drops have been more severe in Phoenix, Las Vegas, San Francisco, Miami, Los Angeles and San Diego. They've been more modest in places like Seattle and Dallas. Case-Shiller said U.S. home depreciation at the end of 2008 was the steepest in the index's 21-year history. The Florida Association of Realtors plans to release January's home sale figures Wednesday. Sales have been increasing as prices, dragged down by foreclosures, attract bargain hunters.



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