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Survey Finds Bay Area Home Prices Losing 20.4% In 1 Year

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By RUSSELL RAY | The Tampa Tribune

Published: June 24, 2008

Updated: 06/24/2008 12:09 pm

TAMPA - The housing slump is far from over, with home prices in Tampa and elsewhere continuing to fall in April, according to a private survey released this morning.

Home prices in the Tampa area in April were down 20.4 percent from the same month in 2007, the S&P/Case-Shiller home price index shows.

Prices have plunged 25 percent in the Tampa area since the housing boom's peak in July 2006, according to the survey.

Local home prices dropped 2.1 percent in April compared with the previous month, the index shows.

For the first time, all 20 cities tracked by the index posted an annual decline in home prices.

Six of the 20 cities recorded steeper decreases than Tampa. In Miami, home prices are down 26.7 percent when compared with the same month in 2007.

The index is down 15.3 percent from a year ago. The gauge, which tracks prices based on sales data, has fallen every month since January.

Reporter Russell Ray can be reached at (813) 259-7870 or rray@tampatrib.com.

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