Has the New Port Richey area Housing Market Stabilized?

After years of stagnation, real estate analysts are finally reporting some good news on the home front.

According to Bloomberg, home prices rose more than analysts initially thought they would year-over-year in July.

“The S&P/Case-Shiller index of property values in 20 cities increased 1.2 percent from July 2011, the biggest 12-month advance since August 2010, a report from the group showed today in New York,” Bloomberg reported.

Analysts anticipated a 1.1 percent gain. While that .1 percent might not seem like a lot, it’s translating to seemingly good news in the Tampa Bay area.

The Tampa Bay Times reported that local home sales were up 12 percent in July over reports from July 2011. The median sales price also grew by 8 percent, bringing that number to $130,000.

Do you think the New Port Richey housing market is following the trend? Cast your vote in our poll or add your comments below.