Money and Markets - Financial Advice | Financial Investment Newsletter
Skip to content
  • Home
  • Experts
    • Martin D. Weiss, Ph.D.
    • Mike Burnick
    • Sean Brodrick
    • JR Crooks
    • Larry Edelson
    • Bill Hall
    • Mike Larson
    • Jon Markman
    • Mandeep Rai
    • Tony Sagami
    • Grant Wasylik
    • Guest Contributors
      • Amber Dakar
      • Peter Schiff
      • John Sheely
      • Claus Vogt
  • Blog
  • Resources
    • FAQ
    • Personal Finance Corner
      • Hot Tips
      • Investments
      • Money & Banking
      • Consumer Loans
      • College Savings
      • Retirement
      • Credit & Debt
      • Taxes
      • Insurance
      • Life & Home
      • Investment Portfolios
    • Links
  • Services
    • Premium Membership Services 
      • Money and Markets Inner Circle
    • Trading Services
      • Marijuana Millionaire
      • Tech Trend Trader
      • Calendar Profits Trader
      • E-Wave Trader
      • Money and Markets’ Natural Resource Investor
      • Money and Markets’ Natural Resource Options Alerts
      • Supercycle Investor
      • Wall Street Front Runner
      • Pivotal Point Trader
    • Investment Newsletters
      • Real Wealth Report
      • Safe Money
      • Disruptors and Dominators
      • The Power Elite
    • Books
      • The Ultimate Depression Survival Guide
      • Investing Without Fear
      • The Standard & Poor’s Guide for the New Investor
      • The Ultimate Safe Money Guide
    • Public Service
  • Media
    • Press Releases
    • Money and Markets in the News
    • Media Archive
  • Issues
    • 2017 Issues
    • 2016 Issues
    • 2015 Issues
    • 2014 Issues
    • 2013 Issues
    • 2012 Issues
    • 2011 Issues
    • 2010 Issues
    • 2009 Issues
    • 2008 Issues
    • 2007 Issues
  • Subscriber Login
  • Weiss Education

Money and Markets: Investing Insights

Bay Area Sees Worst Home Price Drop In U.S.

By SHANNON BEHNKEN, The Tampa Tribune
Published: November 28, 2007

TAMPA – Bay area home prices skyrocketed nearly 140 percent during the housing boom. Now, a report shows the area leading the nation in falling prices.

The Tampa metro area posted the largest yearlong decrease in home prices in September among 20 cities tracked by Standard & Poor’s Case Shiller Home Price Index. Prices dropped 11.1 percent, compared with the same month last year, according to the index, released Tuesday.

Miami, the only other Florida city tracked, ranked second with a 10 percent drop. San Diego, Detroit and Las Vegas rounded out the five cities with the steepest drops.

"The cities with the biggest run-up in home prices are seeing the largest declines," said David Blitzer, chairman of the index committee for S&P. "Tampa saw prices go way up."

Since 2000, Tampa had the fifth largest increase in prices before the market cooled in 2006, according to information in the index. Tampa ranks second for falling prices since the peak of prices in 2005. Miami came in third.

The index tracks individual homes through repeat sales and takes a weighted average of the sales price differences for those homes. Some economists think the index more accurately reflects price trends than the median prices reported by the national and state associations of Realtors.

The index does not include actual home prices, but the Florida Association of Realtors data show the median sales price of homes in the Tampa-St. Petersburg-Clearwater area was $200,700 in September, down 10 percent from last year and down 16 percent from the market price peak in August 2006, when the median price of a home was $237,800.

The association is expected to release October numbers this week, and some analysts say the median sales price in Tampa Bay could drop below $200,000 for the first time since in May 2005, when the Realtors group reported a median sales price of $196,100.

Compare that with $122,100 in September 2000.

Mike Larson, with Weiss Research in Jupiter, also thinks prices in Tampa will fall further.

See the full article here:
http://www2.tbo.com/content/2007/nov/28/bz-worst-in-home-sales-bay-area-price-drop

>

Previous post: Dazzle 'em with Diamonds

Next post: Housing Can't Find A Floor!

  • Sign Up Free

    To receive editorial updates from The Weiss Center for Investor Advancement and Money and Markets, type in your email address. We respect your privacy

  • About Us
  • FAQ
  • Legal
  • Privacy
  • Whitelist
  • Advertising
  • Contact Us
  • ©2025 Money and Markets - Financial Advice | Financial Investment Newsletter.
Weiss Research
Weiss Research, Inc., founded in 1971, has a long history of providing research and analysis designed to empower investors with information and tools to make more informed, independent decisions along with an equally long history of public service. [More »]