New Report Has Great News For Home Buyers
Tuesday's S&P/Case-Shiller home price index has great news for home buyers in the Tampa Bay area.
According to the highly respected index, home prices in Tampa Bay have backtracked to where they were five years ago.
Tampa Bay real estate values dropped 4.4-percent from December '08 to January '09. For the year ended January '09, values fell 23.3-percent. Local home prices are off 37.3-percent since reaching their peak in July of 2006 according to Case-Shiller.
Case-Shiller tracks real estate prices in 20 cities. The Tampa Bay area ranked seventh worst on the index. Other cities seeing big drops in real estate values included Phoenix down35-percent, Las Vegas down 32.5 percent, San Francisco down 32.4-percent, Miami down 29.4-percent, Los Angeles down 25.8-percent and San Diego down 24.9-percent.
Buyers should act now to take advantage of these falling real estate prices. There is still a huge selection of single family homes, condominiums, townhomes and income properties throughout the Tampa Bay area and, according to Case-Shiller, falling prices make them much more affordable -- just like to good ol' days in 2003 and 2004 before the big price run up.
The time to buy is now!
For more information on real estate in the Tampa Bay area, visit my website at www.TheStPeteRealEstateSite.com.
According to the highly respected index, home prices in Tampa Bay have backtracked to where they were five years ago.
Tampa Bay real estate values dropped 4.4-percent from December '08 to January '09. For the year ended January '09, values fell 23.3-percent. Local home prices are off 37.3-percent since reaching their peak in July of 2006 according to Case-Shiller.
Case-Shiller tracks real estate prices in 20 cities. The Tampa Bay area ranked seventh worst on the index. Other cities seeing big drops in real estate values included Phoenix down35-percent, Las Vegas down 32.5 percent, San Francisco down 32.4-percent, Miami down 29.4-percent, Los Angeles down 25.8-percent and San Diego down 24.9-percent.
Buyers should act now to take advantage of these falling real estate prices. There is still a huge selection of single family homes, condominiums, townhomes and income properties throughout the Tampa Bay area and, according to Case-Shiller, falling prices make them much more affordable -- just like to good ol' days in 2003 and 2004 before the big price run up.
The time to buy is now!
For more information on real estate in the Tampa Bay area, visit my website at www.TheStPeteRealEstateSite.com.
-30-
posted by Terry Ward at 2:51 AM
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