May142016

Los Angeles County Housing Market Report: May 2016

Los Angeles County Housing Market Report: May 2016

1schoolhouseHistorically, properties in this market sell at a 9.5% discount. Today’s discount is 16.7%. This market is 7.2% undervalued.

Median home price is $521,600 with a rental parity value of $624,800. This market’s discount is $103,200.

Monthly payment affordability has been improving over the last 3 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis declined from $417/SF to $416/SF. Resale prices have been falling for 1 month(s).

Over the last 12 months, resale prices rose 7.6% indicating a longer term upward price trend.

Median rental rates increased $0 last month from $2,666 to $2,666. The current capitalization rate (rent/price) is 4.9%.

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

Market rating = 6