Feb202016

Riverside County Housing Market Report: February 2016

IRVINE, Calif., February 2, 2016 – OC Housing News

Riverside County Housing Market Report: February 2016

OCHN_good_newsHistorically, properties in this market sell at a 18.5% discount. Today’s discount is 23.5%. This market is 5.0% undervalued.

Median home price is $305,500 with a rental parity value of $403,100. This market’s discount is $97,600.

Monthly payment affordability has been worsening over the last 1 month(s). Momentum suggests unchanging affordability.

Resale prices on a $/SF basis increased from $174/SF to $175/SF. Resale prices have been rising for 3 month(s).

Over the last 12 months, resale prices rose 5.9% indicating a longer term upward price trend.

Median rental rates declined $2 last month from $1,785 to $1,783. 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

About Shevy Akason and OC Housing News

Shevy Akason, exclusive agent for readers and clients of the OC Housing News. The OC Housing News provides entertaining and insightful real estate news coverage, advanced property search, and property analysis displaying the cost of ownership for every property on the multiple listing service.

Interview Contact:

Shevy Akason

OC Housing News

ochousingnews.com

9901 Irvine Center Drive
Irvine, CA 92618

(877) 409-8515