Home Equity Gives Sellers Options in Today’s Market

Reblogger Joe Jackson
Real Estate Agent with Keller Williams Capital Partners Realty 277320
Original content by Kris Collis, Associate Broker AB067859

Home Equity Gives Sellers Options in Today’s Market

Home Equity Give Sellers Options in Today’s Market | MyKCM

Homeownership is one of the best ways to invest in your financial future, especially as your home equity grows. Home equity is a form of forced savings that can work to your advantage as the value of your home appreciates. Across the country, home equity was increasing before the health crisis swept our nation, and it continues to grow throughout the year, giving sellers powerful options in this market.

According to the just-released Q2 Homeowner Equity Insights Report by CoreLogic:

“U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of nearly $620 billion since the second quarter of 2019, an increase of 6.6%, year over year.” 

Dr. Frank Nothaft, Chief Economist for CoreLogic, attributes much of the equity growth to rising home prices:

"The CoreLogic Home Price Index registered a 4.3% annual rise in prices through June, which supported an increase in home equity.”

As the map below shows, CoreLogic also indicates that home equity is increasing in every state:

“In the second quarter of 2020, the average homeowner gained approximately $9,800 in equity during the past year.”

Home Equity Give Sellers Options in Today’s Market | MyKCM

What Does This Mean for Sellers? 

When equity is rising, as it is today, you may have more invested in your home than you realize. Mark Fleming, Chief Economist at First American, notes:

“As homeowners gain equity in their homes, they are more likely to consider using that equity to purchase a larger or more attractive home – the wealth effect of rising equity. In today’s housing market, fast rising demand against the limited supply of homes for sale has resulted in continued house price appreciation.”

Bottom Line

 

Contact Kris Collis, your Trusted Pro in the Poconos, for guidance and confidence in all market fluctuations.  If you’re ready to buy or sell – or maybe both – let’s connect to put your plans in motion. You may be in a position to pay that equity forward toward your next home purchase and afford it sooner rather than later.

 

Courtesy: KCM

"A Trusted Relationship with Professional Results You Expect" 

Kris Collis, Associate Broker

Smart Way America Realty

Client Endorsements

East Stroudsburg, PA 18301

702-574-8102

Mail to: HomeAgain@pm.me

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Rainer
612,590
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Good information!

 CoreLogic also indicates that home equity is increasing in every state:

“In the second quarter of 2020, the average homeowner gained approximately $9,800 in equity during the past year.”

Oct 01, 2020 06:21 AM #1
Rainer
23,558
Lisa Smith
Keller Williams Capital Partners - Worthington, OH
Listings Manager

2020 has been a good year for homeowners!

Oct 02, 2020 09:47 AM #2
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Rainmaker
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Joe Jackson

Clintonville and Central Ohio Real Estate Expert
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