Riverside County Housing Market Report: November 2015

OCHN_good_newsHistorically, properties in this market sell at a 18.5% discount. Today’s discount is 23.8%. This market is 5.2% undervalued.

Median home price is $306,400 with a rental parity value of $405,700. This market’s discount is $99,300.

Monthly payment affordability has been improving over the last 1 month(s). Momentum suggests unchanging affordability.

Resale prices on a $/SF basis declined from $172/SF to $172/SF. Resale prices have been falling for 1 month(s).

Over the last 12 months, resale prices rose 4.2% indicating a longer term upward price trend.

Median rental rates increased $6 last month from $1,785 to $1,792. The current capitalization rate (rent/price) is 5.6%.

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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