Oct172015

Riverside County Housing Market Report: October 2015

Historically, properties in this market sell at a 18.5% discount. Today’s discount is 22.9%. This market is 4.3% undervalued.

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

[gview file=”http://ochousingnews.g.corvida.com/images/documents/ochn_riverside_housing_market_report_2015-10.pdf” height=”800px” width=”600px” save=”1″]


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