Nov092014

Orange County Housing Market News: November 2014

OCHN report cover 04Historically, properties in this market sell at a 0.6% premium. Today’s discount is 1.6%. This market is 2.2% undervalued.

Median home price is $568,100 with a rental parity value of $585,500. This market’s discount is $17,400.

Monthly payment affordability has been improving over the last 4 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis declined from $375/SF to $374/SF. Resale prices have been falling for 1 month(s).

Over the last 12 months, resale prices rose 6.8% indicating a longer term upward price trend.

Median rental rates increased $33 last month from $2,616 to $2,650. The current capitalization rate (rent/price) is 4.5%.

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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