New study: Tampa shows largest home price decline among 20 cities

Tampa nudged out Miami, Detroit and San Diego for having the largest home price decline the past year.

The S&P/Case-Shiller U.S. National Home Price Index said housing prices fell 11.1 percent in Tampa, the worst among 20 cities listed on the survey. The average decline among those cities was 4.9 percent.

A chart and other information about the index is available at this link.

Case-Shiller measured housing prices from September 2006 to September 2007. The index lags a month behind the monthly housing statistics released by the National Association of Realtors, which is putting out October home sales figures this week.

The index tends to show a steeper price decline than does the Realtors report.

Comments

[James]

I'm betting that the Realtor report shows a gain in prices. They can spin any story to sound like rainbows and hugs from cuddly puppies.

[Fuzzy Bear]

James: I am betting that you are correct that the realtor report shows a gain in prices.

Anyone who understands the fluff and stuff put out by the realtors groups would understand.

[MC]

wow, from the responses Ive read on this blog, there are certainly alot of Realtor bashers out there. Its kind of funny since I bet those who do bash Realtors have had a bad experience with one. That's too bad that y'all base your opinions of every Realtor out there on that. And yes I am a Realtor, so I am biased, but you dont know one thing about me, my views, business practices, or anything and Im just tired of seeing all the whining about realtors. Unless you've met every Realtor out there and have proof that each of them are the bottom feeders that your opinions of them them convey, you really shouldn't make a collective judgement. I notice neither of you mention what you do for a living. Sorry, don't mean to sound whiny myself, but really, get over it already. Thanks for letting me vent

[James]

I am a licensed Florida real estate agent, so I know how the game is played. There are a number of great individual Realtors, but the organization itself is just a propaganda machine with little grasp of reality.

1. Forecasts and analyses from the National Association of Realtors have been so consistently off the mark that they cannot be justified with a straight face. If I was wrong that often, I would have been fired long ago.

2. NAR has spearheaded initiatives nationwide to reduce customer choice (by lobbying to ban discount brokers or set minimum commission levels, for example). Free markets, indeed.

3. I know many Realtors, and most have serious ethical issues in their desire to make a buck. Want to find out? Ask one if they will accept a lower commission from a FSBO if it is the right home for their client. I haven't found one yet that knows what the term "fiduciary duty" means. It does NOT mean squeezing out the last dollar at the expense of your client.

There is a reason why Realtor groups are being threatened with RICO laws.

[Jerzebear]

Lets put the problem back where it belongs... Mortgage Brokers and flippers... We need better ethics for all and better management of agents, BROKERS and all related industries...

Don't forget about HOME OWNERS INSURANCE !