Aug222015

Riverside County Housing Market Report: August 2015

newerHistorically, properties in this market sell at a 18.5% discount. Today’s discount is 22.2%. This market is 3.6% undervalued.

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

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