Jun072015

Orange County Housing Market Report: June 2015

1for-sale-sign-animatedHistorically, properties in this market sell at a 0.6% premium. Today’s discount is 5.5%. This market is 6.2% undervalued.

Median home price is $564,400 with a rental parity value of $593,400. This market’s discount is $29,000.

Monthly payment affordability has been worsening over the last 1 month(s). Momentum suggests unchanging affordability.

Resale prices on a $/SF basis declined from $377/SF to $377/SF. Resale prices have been falling for 1 month(s).

Over the last 12 months, resale prices rose 3.5% indicating a longer term upward price trend.

Median rental rates increased $22 last month from $2,599 to $2,621. 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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