This is good news for home prices in Florida - FOX 13 News

This is good news for home prices in Florida

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TAMPA (FOX 13) -

A new report shows home prices have risen an average of 11.5 percent in 2013 – the best yearly performance for the national housing market since 2005.

Prices are now at new peaks or within 10 percent of previous peaks in 21 states, and price increases in Florida over the past year are among the best in the country.

The average home in Florida sold for 12 percent more than the year before, ranking the state 8th in the country. Nevada is No. 1 with price gains of 25 percent during 2013.

Research reveals median home prices here in the Tampa Bay area.

In Tampa, the median price is about $129,000. That's a 25 percent increase over a year, according to the website, Zillow. They predict prices in Tampa will climb another 10 percent during the next year.

In St. Petersburg, the median home price is almost $124,000, a one-year gain of 23 percent. Zillow predicts 10 percent growth over the next year.

Sarasota has some of the highest prices in the area. The median is $161,000, which is 20 percent higher than a year ago. Its forecasted increase is 6 percent.

In Lakeland and New Port Richey, the median price is about $100,000, with gains expected this coming year.

One thing slowing price growth down is the amount of foreclosures in Florida. That part of the housing market is also showing signs of improvement.

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