Riverside County Housing Market Report: March 2016

IRVINE, Calif., March 1, 2016 – OC Housing News  OCHN_every_day

Riverside County Housing Market Report: March 2016

Historically, properties in this market sell at a 18.5% discount. Today’s discount is 24.7%. This market is 6.1% undervalued.

Median home price is $306,200 with a rental parity value of $414,000. This market’s discount is $107,800.

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

Resale prices on a $/SF basis increased from $175/SF to $175/SF. Resale prices have been rising for 4 month(s).

Over the last 12 months, resale prices rose 6.7% indicating a longer term upward price trend.

Median rental rates increased $4 last month from $1,798 to $1,802. The current capitalization rate (rent/price) is 5.7%.

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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