Riverside County Housing Market Report: February 2015
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