Home prices stabilize

GULF COAST — The Federal Housing Finance Agency reported house prices stabilized in the major metro areas of the Gulf Coast in the fourth quarter, another sign in the housing recovery.

In some areas, such as Cape Coral-Fort Myers and Punta Gorda, house prices increased more noticeably in the fourth quarter. The agency tracks existing single-family home average prices through refinancing and repeat sales of the same properties.

In the Cape Coral-Fort Myers area, house prices in the fourth quarter jumped 4.51% compared with the third quarter, according to the FHFA data. In Punta Gorda they rose 2.59%; in the North Port-Bradenton-Sarasota area they rose 1.42%; and in the Naples-Marco Island area they increased 1.08%. In the Tampa Bay area, house prices in the fourth quarter fell 0.17% from the third quarter.