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Tampa Area Drop In Home Prices Among Nation's Worst

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By SHANNON BEHNKEN | The Tampa Tribune

Published: May 27, 2008

TAMPA - Bay area home prices keep falling, but other cities are seeing steeper declines.

Tampa's 19.6 percent price drop from a year ago was the seventh worst decline among 20 cities, according to the S&P/ Case-Shiller home price index, released today.

The report tracked sales prices in March and compared the data to March 2007. It also showed a 3.4 percent drop from February, when Tampa had the sixth steepest price decline. However, the yearlong decrease was less severe at 17.5 percent.

The only other Florida city to make the list was Miami, which ranked second worst in the nation for its 24.6 percent drop.

Home prices in Las Vegas fell 25.9 percent, the largest year-long decrease.

Phoenix was third at 23 percent. Los Angeles and San Diego rounded out the top five with 21.7 percent and 20.5 percent drops, respectively. The Tampa area was edged out for sixth place by San Francisco's 20.2 percent drop.

Reporter Shannon Behnken can be reached at (813) 259-7804 or sbehnken@earthlink.net.

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