A10F03B49704A9555CB18D6BD506641C

Homeowner Equity Is Growing

Dated: 06/08/2018

Views: 30

Homeowner Equity Growth Streak Continues

DAILY REAL ESTATE NEWS | THURSDAY, JUNE 07, 2018

Homeowners with a mortgage saw their equity rise 13.3 percent year over year, according to CoreLogic’s Home Equity Report for the first quarter of 2018, released Thursday. The average homeowner gained $16,300 in home equity between the first quarter of 2017 and the first quarter of 2018. That is the highest growth in home equity in four years. 

“Home-price growth has accelerated in recent months, helping to build home-equity wealth and lift underwater homeowners back into positive equity,” says Frank Nothaft, CoreLogic’s chief economist. 

Western states saw the largest uptick in home equity. California homeowners gained $51,000 on average in home equity, while Washington homeowners saw about $44,000 on average, in equity.

“Home equity balances continue to grow across the nation,” says Frank Martell, president and CEO of CoreLogic. “In the far Western states, equity gains are fueled by a long run in the home price escalation. With strong economic growth and higher purchase demand, we expect these trends to continue for the foreseeable future.” 

 

Source: “Homeowner Equity Report,” CoreLogic (June 7, 2018)

Blog author image

Melissa Holder

Melissa knows South MS well since was born and raised on the coast. She attended Ole Miss then graduated from Southern Miss. This young lady has been in advertising/marketing, hospitality and sales si....

Latest Blog Posts

Aug 15 2018 46719 2

5 Reasons To Hire A Real Estate Professional Before Entering The Market! Whether you are buying or selling a home, it can be quite the adventure. In this world of

Read More

Aug 15 2018 46719 1

Are You Thinking Of Selling Your Home? Competition Is Coming! The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise

Read More

Inexpensive Fixer Ups

<img height="1" width="1" src="https://www.facebook.com/tr?id=156626651472275&ev=PageView&noscript=1" />6 Inexpensive Ways to Transform a Room in 3 Hours or Less | realtor.com® 6

Read More

Ceiling Fan Need To Knows

<img height="1" width="1" src="https://www.facebook.com/tr?id=156626651472275&ev=PageView&noscript=1" />What Are the Best Ceiling Fans for Your Home? A Handy Guide | realtor.com® What

Read More