Dec132014

Orange County Housing Market News: December 2014

OCHN report cover 04Historically, properties in this market sell at a 0.6% premium. Today’s discount is 2.3%. This market is 3.0% undervalued.

Median home price is $565,800 with a rental parity value of $584,600. This market’s discount is $18,800.

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

Resale prices on a $/SF basis increased from $374/SF to $374/SF. Resale prices have been rising for 1 month(s).

Over the last 12 months, resale prices rose 6.1% indicating a longer term upward price trend.

Median rental rates declined $16 last month from $2,650 to $2,633. The current capitalization rate (rent/price) is 4.5%.

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

Market rating = 8

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