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Tampa recovers, despite REO

  • By Business Observer Staff
  • | 5:02 p.m. February 7, 2012
  • Tampa Bay-Lakeland
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TAMPA -- Home prices in the Tampa-St. Petersburg-Clearwater metro area were up 0.8% in January relative to the same month a year prior, according to an estimate from Clear Capital.

Furthermore, according to Clear Capital's quarterly analyses, Tampa Bay's most recent price recovery has been among the strongest in the country. Its quarter-over-quarter gains of 0.9% rank it 11th in the country, just behind Pittsburgh and ahead of Rochester, N.Y.

One other Florida metro ranked higher: Orlando, with a 1.8% quarterly increase in home prices, according to Clear Capital.

Tampa prices are up despite the continued prevalence of distressed sales. Clear Capital estimates Tampa's real estate owned (REO) saturation at 22.3%, representing the proportion of sold properties owned by banks.

 

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