Orange County Housing Market News: October 2014
Median home price is $565,300 with a rental parity value of $569,900. This market’s discount is $4,600.
Monthly payment affordability has been improving over the last 3 month(s). Momentum suggests improving affordability.
Resale prices on a $/SF basis increased from $372/SF to $375/SF. Resale prices have been rising for 8 month(s).
Over the last 12 months, resale prices rose 8.7% indicating a longer term upward price trend.
Median rental rates increased $16 last month from $2,600 to $2,616. The current capitalization rate (rent/price) is 4.4%.
Rents have been rising for 12 month(s). Price momentum signals rising rents over the next three months.
Market rating = 7