Riverside County Housing Market Report: May 2015
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