Oct102015

Los Angeles County Housing Market Report: October 2015

OCHN_every_day (large)Historically, properties in this market sell at a 9.5% discount. Today’s discount is 12.8%. This market is 3.3% undervalued.

Median home price is $510,000 with a rental parity value of $590,000. This market’s discount is $80,000.

Monthly payment affordability has been worsening over the last 5 month(s). Momentum suggests worsening affordability.

Resale prices on a $/SF basis increased from $400/SF to $402/SF. Resale prices have been rising for 2 month(s).

Over the last 12 months, resale prices rose 4.3% indicating a longer term upward price trend.

Median rental rates increased $19 last month from $2,590 to $2,609. 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 = 8

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