Mar212015

Riverside County Housing Market Report: March 2015

1dancinghouse-sHistorically, properties in this market sell at a 18.5% discount. Today’s discount is 24.8%. This market is 6.2% undervalued.

Median home price is $290,500 with a rental parity value of $384,800. This market’s discount is $94,300.

Monthly payment affordability has been improving over the last 10 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis declined from $165/SF to $164/SF. Resale prices have been falling for 1 month(s).

Over the last 12 months, resale prices rose 5.4% indicating a longer term upward price trend.

Median rental rates increased $0 last month from $1,691 to $1,691. The current capitalization rate (rent/price) is 5.6%.

Rents have been rising for 9 month(s). Price momentum signals rising rents over the next three months.

Market rating = 8

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