Riverside County Housing Market Report: April 2016

Irvine_World_News_Cover_cleanIRVINE, Calif., April 1, 2016 – OC Housing News

Riverside County Housing Market Report: April 2016

Historically, properties in this market sell at a 18.5% discount. Today’s discount is 25.8%. This market is 7.3% undervalued.

Median home price is $309,700 with a rental parity value of $418,900. This market’s discount is $109,200.

Monthly payment affordability has been improving over the last 2 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis increased from $176/SF to $177/SF. Resale prices have been rising for 5 month(s).

Over the last 12 months, resale prices rose 6.7% indicating a longer term upward price trend.

Median rental rates increased $15 last month from $1,815 to $1,830. The current capitalization rate (rent/price) is 5.7%.

Rents have been rising for 12 month(s). Price momentum signals rising rents over the next three months.

Market rating = 9

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