FL: Tampa Home Prices Increased in Second Quarter

Tampa Gay Real EstateSpring buying pushed home prices up for a third straight month in most major U.S. cities in June. But the housing market remains shaky, and further price declines are expected this year.

The Standard & Poor’s/Case-Shiller home-price index showed Tuesday that prices increased in June from May in 19 of the 20 cities tracked. Prices rose 3.6 percent in the April-June quarter from the previous quarter. Neither of those numbers is adjusted for seasonal factors. Over the past 12 months, home prices have declined in all 20 cities.

But this year, home prices in many cities have reached their lowest points since the housing market went bust more than four years ago. Prices in Cleveland, Detroit, Las Vegas, Phoenix and Tampa are at 2000 levels. Yet Tampa home prices have been showing upward movement month-to-month. From May to June, prices rose 1.3 percent, the report said.

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