Tampa working through foreclosure glut

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Metro Tampa-St. Petersburg saw existing-home sales in September climb 10 percent from a year ago in an extremely tight housing market. Like most of Florida, the Tampa Bay regional market continues to grapple with sagging home prices and a glut of distressed properties.In Tampa, more than half of homes with mortgages were either underwater or close to being upside down with negative equity in the second quarter of 2011, according to CoreLogic, a real estate research firm. This report highlights real estate market statistics and trends in the Tampa-St. Petersburg-Clearwater region and includes a chart with detailed market data and commentary from local real estate professionals. Overview The median home sales price in the Tampa-St. Petersburg metro area in September dipped 2 percent to $126,900 from a year ago, with home values sinking to the lowest level in a decade, according to Florida Realtors, the statewide real estate trade group. Prices fell despite a double-digit ju...