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

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