Equity Gain Growing in Nearly Every State

By
Real Estate Agent with REMAX Realty Group Lic. # SL3154233

 

Rising home prices have been in the news a lot lately, and much of the focus is on whether they’re accelerating too quickly and how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact they have on a homeowner’s equity position.

Home equity is defined as the difference between a home’s fair market value and the outstanding balance of all liens on the property. While homeowners pay down their mortgages, the amount of equity they have in their homes climbs each time the value increases.

Today, the number of homeowners that currently have significant equity in their homes is growing. According to the Census Bureau, 38% of all homes in the country are mortgage-free.  In a home equity study, ATTOM Data Solutions revealed that of the 54.5 million homes with a mortgage, 26.7% of them have at least 50% equity. That number has been increasing over the last eight years.

CoreLogic also notes:

“…the average homeowner gained approximately $5,300 in equity during the past year.”

The map below shows a breakdown of the increasing equity gain across the country, painting a clear picture that home equity is growing in nearly every state.

Home equity selling a house in cape coral

Bottom Line

This may be the year to take advantage of your home equity by applying it forward, either as you downsize or as you move up to a new home. Call Abby Stiller Realtor with REMAX Realty Group for a free CMA and consultation! 239-284-8637

 

 

 

Posted by

 

Abby Stiller 

Realtor® Lic. #3154233    

12 Years of Experience

RE/MAX Realty Group    Cape Coral Fort Myers Naples  Realtor Cape Coral      

 

I help Home buyers find their dream home & Homeowners sell for more. Thinking of buying or selling? Call/Text me: 239-284-8637   Your Honest & Dedicated Realtor!

or visit: www.TeamStiller.com

 

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Topic:
Home Selling
Location:
Florida Lee County Cape Coral
Tags:
selling a house
home equity
cape coral
local realtor
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Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Abby,  Always great information to pass on aboutthe whole nation.  Hope it keeps going up.

 

Mar 14, 2020 09:36 AM #1
Rainmaker
538,730
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Hi Will Hamm Thank you for stopping by . Have a great day!

Mar 14, 2020 03:04 PM #2
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Abby Stiller

Professional Bilingual Realtor (239) 284-8637
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