Riverside County Housing Market Report: December 2015
Historically, properties in this market sell at a 18.5% discount. Today’s discount is 23.9%. This market is 5.4% undervalued.
Median home price is $305,000 with a rental parity value of $398,300. This market’s discount is $93,300.
Monthly payment affordability has been improving over the last 2 month(s). Momentum suggests improving affordability.
Resale prices on a $/SF basis declined from $172/SF to $172/SF. Resale prices have been falling for 2 month(s).
Over the last 12 months, resale prices rose 4.6% indicating a longer term upward price trend.
Median rental rates declined $4 last month from $1,785 to $1,781. The current capitalization rate (rent/price) is 5.6%.
Rents have been rising for 12 month(s). Price momentum signals rising rents over the next three months.
Market rating = 8