89.2% of Texas Homeowners Now Have Equity in Their Homes

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Real Estate Agent with Keller Williams Realty Dallas Fort Worth 214-552-2091 TX License# 0581538

74% of Households in the US Now Have Significant Equity!

74% of Households in the US Now Have Significant Equity! | MyKCM

CoreLogic’s latest Equity Report revealed that 92% of all mortgaged properties are now in a positive equity situation, while 74% now actually have significant equity (defined as more than 20%)! The report also revealed that 268,000 households regained equity in the first quarter of 2016 and are no longer under water.

Price Appreciation = Good News for Homeowners

Frank Nothaft, CoreLogic’s Chief Economist, explains:

“In just the last four years, equity for homeowners with a mortgage has nearly doubled to $6.9 trillion. The rapid increase in home equity reflects the improvement in home prices, dwindling distressed borrowers and increased principal repayment.  

These are all positive factors that will provide support to both household balance sheets and the overall economy.” 

Anand Nallathambi, President & CEO of CoreLogic, believes this is a great sign for the market in 2016 as well, as he had this to say:

“More than 1 million homeowners have escaped the negative equity trap over the past year. We expect this positive trend to continue over the balance of 2016 and into next year as home prices continue to rise.  

Nationally, the CoreLogic Home Price Index was up 5.5% year over year through the first quarter. If home values rise another 5% uniformly across the U.S., the number of underwater borrowers will fall by another one million during the next year.” 

Below is a map illustrating the percentage of households in each state with significant equity: 

74% of Households in the US Now Have Significant Equity! | MyKCM

Many homeowners with more than 20% equity in their home would be able to use that equity as a down payment on either a larger home or even a retirement home.

Bottom Line

If you are one of the many Americans who are unsure of how much equity you have in your home, don’t let that be the reason you fail to move on to your dream home this year!

Curious What Your Home is Worth?

Feel free to give me a call at 214-552-2091 for a Free Market Analysis or visit us on the web at www.NTXHouseValues.com

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Rainmaker
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Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

And 2nd highest in the nation! We still have some ground to make up in Ohio.

Jun 29, 2016 06:18 AM #1
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Rainmaker
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Raymond Edler

#1 Real Estate Office in DFW
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