Riverside County Housing Market Report: October 2015
Median home price is $307,600 with a rental parity value of $405,100. This market’s discount is $97,500.
Monthly payment affordability has been worsening over the last 5 month(s). Momentum suggests worsening affordability.
Resale prices on a $/SF basis increased from $172/SF to $172/SF. Resale prices have been rising for 7 month(s).
Over the last 12 months, resale prices rose 3.8% indicating a longer term upward price trend.
Median rental rates increased $16 last month from $1,775 to $1,791. The current capitalization rate (rent/price) is 5.6%.
Rents have been rising for 12 month(s). Price momentum signals rising rents over the next three months.
Market rating = 8