In Riverside county the recovery of Moreno Valley’s housing market has been slow but steady. These gradual and gentle recoveries are typically a great sign of stability. Values that rise over time tend to stay where they are, so imminent danger is never a concern. At a modest growth rate of about 5% of year, it could be a while before they reach their previous highs, but measurable and predictable growth are always better than sharp upward ticks that are impossible to sustain.
Moreno Valley is slightly more of a seller’s market, but in the end, that may not mean much. The market’s health is slightly south of stable, and a gust of wind in the wrong direction can push it down to an unhealthy level. In terms of market standing, Moreno Valley is touch and go. Some homes sell, and others don’t. The better condition a home is in, the more likely it is to move in a market that’s a little more critical than most.
Another issue affecting Moreno Valley is high foreclosure rates. The United States annual average for foreclosure is one in 10,000 homes, where Moreno Valley’s is at 3 in 10,000. This is alarming, and it’s a very real problem for a significant amount of homeowners in the area. In a market full of quirks, the last thing a buyer wants to be confronted with is a situation in which an immediate sale of their home is paramount. While it’s rough, it’s not impossible to make that sale.