Sonoma County home prices climbed 10.2 percent in August from a year earlier, far outstripping the rise in home prices statewide, property data service CoreLogic reported Tuesday.
The company forecasts that national home prices will climb another 4.3 percent by August 2016. The higher mortgage rates and greater number of single family starts “should dampen demand and augment supply, leading to a moderation in home price growth” next year.
The Press Democrat’s monthly housing report placed the county’s median price of single family homes sold in August at $546,000 a nearly 15% increase from a year earlier.