Equity Is Growing

Dated: 10/11/2016

Views: 268

Spread the Message: Equity Is Growing

DAILY REAL ESTATE NEWS | TUESDAY, OCTOBER 11, 2016

Home owners, on average, saw a gain in equity of $11,000 last year, according to data from CoreLogic. In states like California, Oregon, and Washington, home owners have seen average increases of nearly $30,000 per person.

Since 2011, the value of the nation’s single-family housing market has gone up 40 percent, with nationwide home equity doubling from $6.1 trillion to $12.7 trillion, CoreLogic’s data shows.

That has helped to rebuild the wealth of America’s home owners, writes Frank Nothaft, CoreLogic’s chief economist in his monthly column.

“Across the U.S., the value of the housing stock and the amount of home-equity wealth held by home owners have risen dramatically during the last five years,” Nothaft notes. The recovery in home equity “has helped support consumption spending and renovation expenditures” too.

Take a look at this chart that shows the breakdown of average equity gain per owner across the U.S.

CoreLogic predicts home equity will continue to make gains in the coming year, reaching $1 trillion, and will add to consumption spending and lead to greater economic growth in 2017.

As appreciation rises, the number is declining of home owners with negative equity, those who owe more on their home than it is currently worth. As of mid-2016, CoreLogic estimated about 3.6 million home owners – or about 7 percent – of home owners with a mortgage were in negative equity.

Source: “U.S. Economic Outlook: October 2016,” CoreLogic (Oct. 6, 2016)

Want to Advertise on this Site?

Latest Blog Posts

3 STORY HOMES WITH ELEVATOR STARTING 620K

Check out this UNBELIEVABLE Upscale home! 3 Stories with Elevator and Entire Master Suite Upstairs for Well Under 1 Million Dollars!  Exclusive offer: All Homes Purchased On the Lake

Read More

Furry Friday Chichi

ChiChi *F*'s Web PageTerrier / Mixed (short coat)  : :  Female (spayed)  : :  Senior About ChiChi *

Read More

Pool Maintenance Tips For Summer

                Owning a pool is sometimes compared to owning a boat, it provides the two happiest days of your life..

Read More

Open House WATERFORD LAKES 2 DAYS Starting TODAY

JOIN US TODAY FOR OPEN HOUSE AT THIS BEAUTIFUL HOME LOCATED IN SOUGHT AFTER WATERFORD LAKES  FROM 11 - 3. IF YOU CAN'T MAKE IT TODAY, WE WILL BE HERE AGAIN ON SUNDAY JUNE 10TH FROM-

Read More