Orange County Housing Market Report: July 2016
Median home price is $619,400 with a rental parity value of $668,000. This market’s discount is $48,600.
Monthly payment affordability has been improving over the last 5 month(s). Momentum suggests improving affordability.
Resale prices on a $/SF basis increased from $401/SF to $402/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 $31 last month from $2,823 to $2,854. 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