Home price index mixed

A federal government home price index shows slow improvement for most areas of the Gulf Coast.

Three of the five metro areas of the Gulf Coast posted modest increases in the most recent Federal Housing Finance Agency's all-transactions home price index for the year ending in June, which includes purchase and refinance mortgages.

Areas of the Gulf Coast that posted one-year increase in the index included Cape Coral-Fort Myers (4.03%), Punta Gorda (2.62%) and Naples-Marco Island (0.74%). Areas that declined over the year were Tampa-St. Petersburg-Clearwater (down 2.08%) and North Port-Sarasota-Bradenton (down 0.82%).

Over the last five years ending in June, the all-transactions home price index in every area of the Gulf Coast has fallen more than 40%, with Naples-Marco Island suffering the biggest decline (down 49%).