Home buyers in the Tampa region are finally getting some good news about home prices: They are coming down.
According to the S&P CoreLogic Case-Shiller Home Price Index, Tampa was the only city in the 20-city index to show a price decline over the last year. Tampa's prices dropped 0.37% in the Case-Shiller index, compared to the national average, which rose 3.75%.
The only other Florida city in the index, Miami, saw home prices rise from October to November 2024 and posted a 3.17% increase over the last year.
"Markets out west and in once red-hot Florida are trending well below average growth," said Brian D. Luke, CFA, Head of Commodities, Real & Digital Assets. "Tampa’s decline is the first annual drop for any market in over a year."
Luke continued, "Returns for the Tampa market and entire Southern region rank in the bottom quartile of historical annual gains, with data going back to 1988."
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