FL: Tampa Home Prices Up in July, But Still Depressed

Gay Tampa Real EstateTampa Bay area home prices rose in July, joining most major U.S. cities enjoying seasonal buying. But, experts warn, this won’t last, and prices are expected to decline in the coming months.

The Standard & Poor’s/Case-Shiller index released Tuesday showed that home prices increased in July from June in 17 of the 20 cities tracked. In the Tampa-St. Petersburg-Clearwater metro area, prices increased a modest 0.8 percent from June to July. That followed a 2.2 percent increase from May to June.

The market, however, remains depressed, and prices in Tampa dropped 6.4 percent from a year ago. This is still a seasonal period of stronger demand for houses, so monthly price increases are expected,” said David M. Blitzer, chairman of Standard & Poor’s index committee.

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