Feb212015

Riverside County Housing Market Report: February 2015

1gnuireskzj3Historically, properties in this market sell at a 18.5% discount. Today’s discount is 24.1%. This market is 5.6% undervalued.

Median home price is $289,600 with a rental parity value of $389,100. This market’s discount is $99,500.

Monthly payment affordability has been improving over the last 9 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis increased from $165/SF to $165/SF. Resale prices have been rising for 2 month(s).

Over the last 12 months, resale prices rose 7.4% indicating a longer term upward price trend.

Median rental rates declined $6 last month from $1,698 to $1,691. The current capitalization rate (rent/price) is 5.6%.

Rents have been rising for 8 month(s). Price momentum signals rising rents over the next three months.

Market rating = 7

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