Home prices up in Stockton, Modesto

October 4, 2016

 STOCKTON — Home prices in Stockton and Modesto rose year over year in August, according to property information company Core Logic.

In the Stockton-Lodi area, home prices, including distressed sales, increased by 9.1 percent in August 2016 compared with August 2015. On a month-over-month basis, home prices, including distressed sales, increased by 0.3 percent in August compared to July.

In Modesto, home prices, including distressed sales, also increased by 9.1 percent in August 2016 compared with the year before. On a month-over-month basis, home prices, including distressed sales, increased by 0.7 percent in August compared with July.

Nationally, home prices including distressed sales, increased year over year by 6.2 percent in August and increased month over month by 1.1 percent in August compared to July.

“Housing values continue to rise briskly on stronger fundamental and investor-fueled demand, as well as lack of adequate supply,” said Anand Nallathambi, president and CEO of CoreLogic. “This continued price appreciation is contributing to a growing affordability crisis in many markets around the country.”

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