Apr252015

Riverside County Housing Market Report: April 2015

1dancinghouse-sHistorically, properties in this market sell at a 18.5% discount. Today’s discount is 25.1%. This market is 6.5% undervalued.

Median home price is $292,300 with a rental parity value of $386,200. This market’s discount is $93,900.

Monthly payment affordability has been improving over the last 12 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis increased from $164/SF to $166/SF. Resale prices have been rising for 1 month(s).

Over the last 12 months, resale prices rose 4.7% indicating a longer term upward price trend.

Median rental rates increased $0 last month from $1,691 to $1,691. The current capitalization rate (rent/price) is 5.6%.

Rents have been rising for 10 month(s). Price momentum signals rising rents over the next three months.

Market rating = 8

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