5,300 Reasons to Be Happy You’re a Homeowner

Dated: December 24 2019

Views: 32

Studies have shown that, in many cases, the largest asset a family owns is the house they live in. Over the last twelve months, that asset has gained substantial value.

CoreLogic just released their 2019 3rd Quarter Homeowner Equity Insights Report. The report revealed that:

“U.S. homeowners with mortgages (roughly 64% of all properties) have seen their equity increase by a total of nearly $457 billion since the third quarter 2018, an increase of 5.1%, year over year.”

The equity in a property is determined by comparing the current value of the property against the outstanding mortgage debt. As prices rise, the equity in a home increases.

The report went on to explain that the average homeowner gain in equity over the last twelve months was $5,300.

Here’s a map showing the average equity gain by state:5,300 Reasons to Be Happy You’re a Homeowner | Simplifying The MarketSince the housing crash in 2008, many homeowners have felt trapped in their current houses, as they didn’t have enough equity to sell. The gains in equity over the past few years may have freed some homeowners who have a desire to move.

Bottom Line

If you’re curious about your home’s equity, let’s get together to do a market analysis on the current value of your house. You may be pleasantly surprised.

Latest Blog Posts

Why Waiting to Buy a Home Could Cost You a Small Fortune.

Many people are sitting on the fence trying to decide if now’s the time to buy a home. Some are renters who have a strong desire to become homeowners but are unsure if buying right now

Read More

Is Home Price Appreciation Accelerating Again?

At the beginning of the year, industry forecasts called for home price appreciation to slow to about half of the double-digit increase we saw last year. The thinking was that inventory would

Read More

Americans Find the Nonfinancial Benefits of Homeownership Most Valuable

Homeownership is a foundational part of the American Dream. As we look back on more than a year of sheltering in our homes, having a place of our own is more important than ever. While 

Read More

4 Tips to Maximize the Sale of Your House

Homeowners ready to make a move are definitely in a great position to sell today. Housing inventory is incredibly low, driving up buyer competition. This gives homeowners leverage to sell

Read More
xx