10/08/2024
🏡 Homeownership Wins: Building Equity Over the Years 📈
As a homeowner, one of the biggest perks is watching your equity grow! Over the past decade, the typical homeowner has lived in their current home for an average of 10 years. It’s incredible to see how much equity has been built during this time—and it's no different here in the Dallas-Fort Worth area!
🔍 Here are a few key stats:
According to the National Association of Realtors (NAR), the median homeownership tenure is now an average of 10 years, showing how many of us are staying in our homes longer and reaping the benefits of home appreciation.
In Dallas-Fort Worth, home prices have surged, helping boost the average annual home equity gain to around 7-10% per year over the past decade, according to data from the Federal Housing Finance Agency (FHFA).
Here’s why that’s such a big deal: you gain equity as you pay down your home mortgage and as home prices rise. And when you combine all of your mortgage payments with how much prices have gone up over the past 10 years, that really adds up. So if you’ve lived in your house for a while now, you may be sitting on a pile of equity!
If you’re thinking about starting your own homeownership journey, feel free to reach out—I’m always happy to chat!
Brokered by KWEC