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Tampa Bay-Lakeland
Business Observer Wednesday, Jun. 1, 2011 11 years ago

Home prices decrease in April

Distressed sales continue to hurt values in Tampa Bay and Sarasota.

Home prices fell by as much as 13% in select markets along the Gulf Coast in April, according to new data from CoreLogic.

Home prices in April in the Tampa-St. Petersburg-Clearwater metro market were down 13.3% over the year, CoreLogic says. In North Port-Bradenton-Sarasota, prices fell 10.9%; in Cape Coral-Fort Myers they fell 4.85%.

The Tampa Bay and Sarasota markets in particular were significantly impacted by distressed sales. If foreclosure and short sale transactions were excluded, CoreLogic says, price levels would be about the same as they were a year ago.

The statewide real estate market behaved similarly: Florida home values fell 9% over the year that ended in April, but prices on traditionally sold homes are down by just 1%.

Across the U.S., CoreLogic reports that the national real estate market saw its first month-over-month increase in home prices since the middle of 2010 between March and April of this year. But even with the recent bump, nationwide prices are still down roughly 7.5% from where they were a year ago.

CoreLogic (symbol: CLGX) is a research firm based in Santa Ana, Calif. Its 2010 revenues were $1.6 billion.

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