Jul162016

Los Angeles Housing Market Report: July 2016

turnkeyHistorically, properties in this market sell at a 9.5% discount. Today’s discount is 16.0%. This market is 6.5% undervalued.

Median home price is $534,900 with a rental parity value of $639,600. This market’s discount is $104,700.

Monthly payment affordability has been improving over the last 5 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis increased from $421/SF to $424/SF. Resale prices have been rising for 11 month(s).

Over the last 12 months, resale prices rose 7.4% indicating a longer term upward price trend.

Median rental rates increased $25 last month from $2,708 to $2,733. The current capitalization rate (rent/price) is 4.9%.

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

Market rating = 6

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