Orange County Housing Market Report: December 2015
Historically, properties in this market sell at a 0.6% premium. Today’s discount is 4.1%. This market is 4.8% undervalued.
Median home price is $595,200 with a rental parity value of $614,400. This market’s discount is $19,200.
Monthly payment affordability has been improving over the last 2 month(s). Momentum suggests improving affordability.
Resale prices on a $/SF basis increased from $391/SF to $392/SF. Resale prices have been rising for 10 month(s).
Over the last 12 months, resale prices rose 4.6% indicating a longer term upward price trend.
Median rental rates declined $10 last month from $2,757 to $2,747. 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 = 8