Oct262014

Riverside County Housing Market News: October 2014

RiversideHistorically, properties in this market sell at a 18.5% discount. Today’s discount is 21.5%. This market is 3.0% undervalued.

Median home price is $290,100 with a rental parity value of $369,500. This market’s discount is $79,400.

Monthly payment affordability has been improving over the last 3 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis declined from $166/SF to $166/SF. Resale prices have been falling for 1 month(s).

Over the last 12 months, resale prices rose 16.9% indicating a longer term upward price trend.

Median rental rates increased $8 last month from $1,688 to $1,696. The current capitalization rate (rent/price) is 5.6%.

Rents have been slowly rising for 4 month(s). Price momentum signals slowly rising rents over the next three months.

Market rating = 5

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