May232015

Riverside County Housing Market Report: May 2015

1gnuireskzj3Historically, properties in this market sell at a 18.5% discount. Today’s discount is 24.9%. This market is 6.3% undervalued.

Median home price is $294,800 with a rental parity value of $392,900. This market’s discount is $98,100.

Monthly payment affordability has been improving over the last 7 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis increased from $166/SF to $168/SF. Resale prices have been rising for 2 month(s).

Over the last 12 months, resale prices rose 4.2% indicating a longer term upward price trend.

Median rental rates increased $8 last month from $1,691 to $1,700. The current capitalization rate (rent/price) is 5.5%.

Rents have been rising for 11 month(s). Price momentum signals rising rents over the next three months.

Market rating = 8

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OCHN_Riverside_Housing_Market_Report_2015-5

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