Nov152014

Los Angeles County Housing Market News: November 2014

West LAHistorically, properties in this market sell at a 9.5% discount. Today’s discount is 12.1%. This market is 2.6% undervalued.

Median home price is $475,700 with a rental parity value of $548,500. This market’s discount is $72,800.

Monthly payment affordability has been improving over the last 6 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis increased from $386/SF to $387/SF. Resale prices have been rising for 8 month(s).

Over the last 12 months, resale prices rose 13.7% indicating a longer term upward price trend.

Median rental rates increased $17 last month from $2,465 to $2,482. The current capitalization rate (rent/price) is 5.0%.

Rents have been rising for 12 month(s). Price momentum signals rising rents over the next three months.

Market rating = 7

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