03/05/2023
Equity Gains for Todayâs Homeowners
Todayâs homeowners are sitting on significant equity, even as home price appreciation has eased recently. If youâre a homeowner, your net worth got a boost over the past few years thanks to rising home prices. Hereâs what it means for you, even as the market moderates.
>>How Equity Has Grown in Recent Years
Because of the imbalance between how many homes were for sale and the number of homebuyers in the market over the past few years, home prices appreciated substantially.
And while price appreciation has slowed this year, that doesnât mean youâve lost all the equity in your home. In fact, the latest Homeowner Equity Insights report from CoreLogic finds the average homeownerâs equity has grown by $34,300 over the past year alone.
And if youâve been in your home longer than that, chances are you have even more equity than you realize.
>>Why This Is...
Todayâs homeowners are sitting on significant equity, even as home price appreciation has eased recently. If youâre a homeowner, your net worth got a boost over the past few years thanks to rising home prices. Hereâs what it means for you, even as the market moderates.