Riverside County Housing Market Report: November 2015
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