Aug202016

Riverside County Housing Market Report: August 2016

Riverside County Housing Market Report: August 2016

free_postsHistorically, properties in this market sell at a 18.5% discount. Today’s discount is 28.6%. This market is 10.1% undervalued.

Median home price is $325,500 with a rental parity value of $458,600. This market’s discount is $133,100.

Monthly payment affordability has been improving over the last 6 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis increased from $181/SF to $182/SF. Resale prices have been rising for 9 month(s).

Over the last 12 months, resale prices rose 6.6% indicating a longer term upward price trend.

Median rental rates increased $9 last month from $1,919 to $1,928. The current capitalization rate (rent/price) is 5.7%.

Rents have been rising for 12 month(s). Price momentum signals rising rents over the next three months.

Market rating = 9

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