Aug062016

Orange County Housing Market Report: August 2016

Orange County Housing Market Report: August 2016

OCHN_Authority_smallHistorically, properties in this market sell at a 0.6% premium. Today’s discount is 7.9%. This market is 8.5% undervalued.

Median home price is $626,100 with a rental parity value of $687,500. This market’s discount is $61,400.

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

Resale prices on a $/SF basis increased from $404/SF to $406/SF. Resale prices have been rising for 11 month(s).

Over the last 12 months, resale prices rose 5.9% indicating a longer term upward price trend.

Median rental rates increased $25 last month from $2,865 to $2,890. 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 = 9

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