Jan252015

Riverside County Housing Market Report: January 2015

1RealEstateForSaleSignHistorically, properties in this market sell at a 18.5% discount. Today’s discount is 22.9%. This market is 4.4% undervalued.

Median home price is $290,800 with a rental parity value of $381,600. This market’s discount is $90,800.

Monthly payment affordability has been improving over the last 6 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 1 month(s).

Over the last 12 months, resale prices rose 8.7% indicating a longer term upward price trend.

Median rental rates increased $0 last month from $1,697 to $1,698. The current capitalization rate (rent/price) is 5.6%.

Rents have been rising for 7 month(s). Price momentum signals rising rents over the next three months.

Market rating = 7

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