Riverside County Housing Market Report: August 2015
Median home price is $305,200 with a rental parity value of $387,400. This market’s discount is $82,200.
Monthly payment affordability has been worsening over the last 3 month(s). Momentum suggests worsening affordability.
Resale prices on a $/SF basis increased from $170/SF to $171/SF. Resale prices have been rising for 5 month(s).
Over the last 12 months, resale prices rose 3.8% indicating a longer term upward price trend.
Median rental rates increased $22 last month from $1,733 to $1,755. The current capitalization rate (rent/price) is 5.5%.
Rents have been rising for 12 month(s). Price momentum signals rising rents over the next three months.
Market rating = 8