May282016

San Bernardino County Housing Market Report: May 2016

San Bernardino County Housing Market Report: May 2016

1RealEstateForSaleSignHistorically, properties in this market sell at a 25.7% discount. Today’s discount is 35.9%. This market is 10.2% undervalued.

Median home price is $282,500 with a rental parity value of $449,500. This market’s discount is $167,000.

Monthly payment affordability has been improving over the last 2 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis increased from $187/SF to $188/SF. Resale prices have been rising for 3 month(s).

Over the last 12 months, resale prices rose 8.8% indicating a longer term upward price trend.

Median rental rates increased $31 last month from $1,887 to $1,918. The current capitalization rate (rent/price) is 6.5%.

Rents have been rising for 12 month(s). Price momentum signals rising rents over the next three months.

Market rating = 8