patrick.net

http://ochousingnews.com/blog/orange-county-housing-market-news-october-2014/

Historically, properties in this market sell at a 0.6% premium. Today’s discount is 0.8%. This market is 1.4% undervalued.

Median home price is $565,300 with a rental parity value of $569,900. This market’s discount is $4,600.

Monthly payment affordability has been improving over the last 3 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis increased from $372/SF to $375/SF. Resale prices have been rising for 8 month(s).

Over the last 12 months, resale prices rose 8.7% indicating a longer term upward price trend.

Median rental rates increased $16 last month from $2,600 to $2,616. The current capitalization rate (rent/price) is 4.4%.

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

Market rating = 7

#housing