Orange County Housing Market Report: October 2015
Historically, properties in this market sell at a 0.6% premium. Today’s discount is 3.6%. This market is 4.2% undervalued.
Median home price is $597,800 with a rental parity value of $629,100. This market’s discount is $31,300.
Monthly payment affordability has been worsening over the last 5 month(s). Momentum suggests worsening affordability.
Resale prices on a $/SF basis increased from $386/SF to $388/SF. Resale prices have been rising for 8 month(s).
Over the last 12 months, resale prices rose 3.6% indicating a longer term upward price trend.
Median rental rates increased $33 last month from $2,749 to $2,782. 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