Tampa Bay home prices reach new low – Tampa Bay Times

In a post from yesterday I noted that home prices in South Florida rose 0.2% from November to December 2011. This first article in contrast reports that housing prices in the Tampa Bay Area fell by 0.2% from November to December 2011. And, home prices fell by 4.3% from their December 2010 totals.

http://www.tampabay.com/news/business/realestate/tampa-bay-home-prices-reach-new-low/1217555

This second article reports that the government adjusted the new home sales figures for the 4th quarter of 2011, which now indicate that home sales rose 10% in that quarter. But new home sales are still the lowest since 1963, and stand at roughly half of what economists consider to be a healthy market.

http://www.tampabay.com/news/business/realestate/despite-january-dip-new-home-sales-look-promising/1217059

 

These articles report that there are signs that the market may be stabilizing, but prices are still falling, and home sales dipped again in January 2012. The result is that selling an underwater home will still be difficult.

If you find yourself unable to sell your home and facing foreclosure, please give me a call so we can discuss how I can help.

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