Tampa socked by huge home price decline

Tampa Bay area home prices fell 19.6 percent from March 2007 to March 2008, bringing our home values back in line with what they were in February 2005, according to the S&P Case-Shiller home price index released Tuesday. Our home price decline was 7th worst among 20 cities listed on the index. Nineteen of 20 cities reported price declines. Charlotte, N.C., was the only exception. The average price decline was 14.4 percent. Once again, Tampa-St. Petersburg came off better than Miami and a slew of cities out West. Las Vegas suffered the worst price decline at 25.9 percent. Here's a list of the worst hit areas:

1. Las Vegas: -25.9 percent
2. Miami: -24.6 percent
3. Phoenix: -23 percent
4. Los Angeles: -21.7 percent
5. San Diego: -20.5 percent
6. San Francisco: -20.2 percent
7. Tampa: -19.6 percent

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