Apr112015

Orange County Housing Market Report: April 2015

1for-sale-sign-animatedHistorically, properties in this market sell at a 0.6% premium. Today’s discount is 6.3%. This market is 6.9% undervalued.

Median home price is $560,500 with a rental parity value of $593,400. This market’s discount is $32,900.

Monthly payment affordability has been improving over the last 11 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis increased from $375/SF to $375/SF. Resale prices have been rising for 2 month(s).

Over the last 12 months, resale prices rose 4.7% indicating a longer term upward price trend.

Median rental rates increased $0 last month from $2,599 to $2,599. 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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