Sonoma County homes sales rose slightly in June, apparently from buyers taking advantage of the last phase of a federal tax credit.
The county recorded 444 sales last month, up 3 percent from a year ago, according to The Press Democrat monthly housing report compiled by Rick Laws of Coldwell Banker in Santa Rosa. Sales were nearly 7 percent higher than May.
The median price dipped slightly to $356,000, down 1 percent from May but up 6 percent from a year ago.
Local sales likely got a bump from the $8,000 tax credit, said Glen Hurley, president of the Santa Rosa chapter of the North Bay Association of Realtors. To be eligible, buyers had to sign a contract by April 30, but Congress has given an extension until Sept. 30 for the sale to be completed.
Among buyers, Hurley said, “I’ve seen a slight decrease in interest in the $300,000 range” of homes for sale. Even so, he said, his clients are still facing competition for such properties.
Nationally, applications for new loans fell last week to the lowest level since 1996, the Mortgage Bankers Association reported Wednesday. The dip occurred even though home interest rates are the lowest in decades.
— Robert Digitale