Nov222014

Riverside County Housing Market News: November 2014

RiversideHistorically, properties in this market sell at a 18.5% discount. Today’s discount is 21.8%. This market is 3.2% undervalued.

Median home price is $291,500 with a rental parity value of $375,000. This market’s discount is $83,500.

Monthly payment affordability has been improving over the last 4 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis declined from $166/SF to $165/SF. Resale prices have been falling for 2 month(s).

Over the last 12 months, resale prices rose 13.7% indicating a longer term upward price trend.

Median rental rates increased $0 last month from $1,696 to $1,697. The current capitalization rate (rent/price) is 5.6%.

Rents have been rising for 5 month(s). Price momentum signals rising rents over the next three months.

Market rating = 7

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