The Real Deal Miami

Home prices still falling in at least four Florida cities

December 06, 2012 03:00PM

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Jacksonville’s skyline where housing prices fell 3 percent from last year as Miami’s prices grew

While experts are rightly pointing to the major strides South Florida’s housing has made since the recession — especially in the luxury market — prices are still falling in at least four cities across Florida, Forbes reported.

Forbes looked at data from 300 metro areas across the U.S. and found that housing prices are still dropping in Gainesville — where home prices dropped 7 percent during the 12 months ending in September — Tallahassee — where home prices fell 6 percent over the same period — Panama City — where price deceased 6 percent and Jacksonville — where prices went down 3 percent year-over-year.

“I think the Florida market as a whole isn’t going to be taking off any time soon because demand for northern markets just isn’t there,” said Ingo Winzer, founder and president of Local Market Monitor, a Cary, N.C.-based real estate research company that helped Forbes compile its list. [Forbes] —Christopher Cameron

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