Florida's home price gut check

Four Florida counties are among the worst-hit by price drops in the housing bust, according to a report released Tuesday by Integrated Asset Services, which tracks home valuations for banks, investors and hedge funds. Hernando and Pasco counties saw drops of 41.8 percent and 57.3 percent, respectively, since prices peaked in July 2006, the report states. Two other Florida counties were named among the 10 counties with the steepest drops. Charlotte and Lee counties had price drops of 52.4 percent and 56.7 percent, respectively. Florida has been hit much harder than most states, although prices are dropping nationwide. U.S. home prices have fallen 17.9 percent since the height of the real estate boom in '06, the report states.

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