San Bernardino County Housing Market Report: February 2016
IRVINE, Calif., February 1, 2016 – OC Housing News
Historically, properties in this market sell at a 25.7% discount. Today’s discount is 31.4%. This market is 5.7% undervalued.
Median home price is $279,600 with a rental parity value of $407,600. This market’s discount is $128,000.
Monthly payment affordability has been worsening over the last 2 month(s). Momentum suggests worsening affordability.
Resale prices on a $/SF basis declined from $184/SF to $184/SF. Resale prices have been falling for 3 month(s).
Over the last 12 months, resale prices rose 7.2% indicating a longer term upward price trend.
Median rental rates declined $9 last month from $1,812 to $1,803. The current capitalization rate (rent/price) is 6.2%.
Rents have been rising for 12 month(s). Price momentum signals rising rents over the next three months.
Market rating = 7
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