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 Orange County Housing Market Report: January 2016 Historically, properties in this market sell at a 0.6% premium. Today's discount is 3.5%. This market is 4.1% undervalued. Median home price is $594,700 with a rental parity value of $611,600. This market's discount is $16,900. Monthly payment affordability has been improving over the last 3 month(s). Momentum suggests improving affordability. Resale prices on a $/SF basis increased from $392/SF to $394/SF. Resale prices have been rising for 11 month(s). Over the last 12 months, resale prices rose 5.1% indicating a longer term upward…[READ MORE]

The median sales prices does not give any indication of what was obtained for the money spent. Median prices may be flat while people are either getting more for their money or settling for less. Also, the median sales price when charted over time occasionally gives false signals when prices appear to be moving on one direction when the prices of individual properties in the market are moving another. To deal with these problems with the median, alternate measures of pricing are used. Cost Per-Square-Foot Many data reporting services measure, record, and report the average sales cost on a per-square-foot basis to address the problem of evaluating what buyers are getting for their money. For instance, in a declining market…[READ MORE]