Riverside County housing market report: June 2016
Median home price is $316,500 with a rental parity value of $442,300. This market’s discount is $125,800.
Monthly payment affordability has been improving over the last 4 month(s). Momentum suggests improving affordability.
Resale prices on a $/SF basis increased from $179/SF to $181/SF. Resale prices have been rising for 7 month(s).
Over the last 12 months, resale prices rose 6.7% indicating a longer term upward price trend.
Median rental rates increased $24 last month from $1,886 to $1,911. The current capitalization rate (rent/price) is 5.8%.
Rents have been rising for 12 month(s). Price momentum signals rising rents over the next three months.
Market rating = 9