Survey: Sonoma County home prices up nearly 11 percent in July

Sonoma County home prices rose 10.9 percent in July from a year earlier, property data service CoreLogic reported Tuesday.

CoreLogic’s Home Price Index, which measures sales prices of the same properties over time, calculated an increase in county values of?2.5 percent from June to July.

In comparison, California home prices rose 6.5 percent in July from a year earlier and national prices climbed?6.9 percent.

The company forecast that national home prices will climb another 4.7 percent by July 2016.

“Low mortgage rates and stronger consumer confidence are supporting a resurgence in home sales of late,” Corelogic President and CEO Anand Nallathambi said in a statement.

CoreLogic’s figures included sales of distressed properties. Excluding such sales, the county home values rose?11.5 percent in July from a year earlier.

The Press Democrat’s monthly housing report placed the county’s median home sale price in July at $545,000, an increase of?7.5 percent from a year earlier.

Robert Digitale