Jan162016
San Bernardino County Housing Market Report: January 2016
The OC Housing News published its monthly housing market report, covering resale home prices and rental rates across Southern California.
IRVINE, Calif., January 2, 2016 – OC Housing News
San Bernardino County Housing Market Report: January 2016
Historically, properties in this market sell at a 25.7% discount. Today’s discount is 32.2%. This market is 6.6% undervalued.
Median home price is $280,200 with a rental parity value of $406,600. This market’s discount is $126,400.
Monthly payment affordability has been worsening over the last 1 month(s). Momentum suggests unchanging affordability.
Resale prices on a $/SF basis increased from $184/SF to $184/SF. Resale prices have been rising for 1 month(s).
Over the last 12 months, resale prices rose 7.0% indicating a longer term upward price trend.
Median rental rates declined $23 last month from $1,845 to $1,822. The current capitalization rate (rent/price) is 6.2%.
Rents have been rising for 12 month(s). Price momentum signals rising rents over the next three months.
Market rating = 8
About Shevy Akason and OC Housing News
Shevy Akason, exclusive agent for readers and clients of the OC Housing News. The OC Housing News provides entertaining and insightful real estate news coverage, advanced property search, and property analysis displaying the cost of ownership for every property on the multiple listing service.
Interview Contact:
Shevy Akason
OC Housing News
ochousingnews.com
9901 Irvine Center Drive
Irvine, CA 92618
(877) 409-8515
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Interesting info Shevy. Why the big discount for San Bernardino?
In the Coastal areas, the chronic shortage of houses forces people to substitute down in quality to obtain housing. In the Inland Empire, they still have room to grow, so price remain low relative to income and relative to rent. When these areas get built out, prices will rise there too, but it will take another couple of generations before that happens.
These are good places to find rental properties.