Riverside County Housing Market News: November 2014
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