Tampa home prices at new low in 2011


Because most economists believe the economic morass won't improve until the housing crisis alleviates, today's news that Tampa's home prices have hit a new low this year has to be a blow for local officials.

Standard & Poor's/Case-Shiller Home price index monthly report that came out on Wednesday showed "mixed signals" for recovery in home prices. They report that majority of cities are seeing improve annual rates, but cities which set new lows for this year include Las Vegas, Miami, Phoenix and Tampa.

For the year, Tampa's home prices are down 7 percent, with the average house selling for just under $129,000.