Your Home Likely Has Positive Equity

Your Home Likely Has Positive Equity

93.9% Of Homes in The US Have Positive Equity

CoreLogic’s latest Equity Report revealed that ninety-one thousand residential properties regained equity in Q1 2017. The outlook for 2017 remains positive as well, as an additional 600 thousand properties will regain equity if home prices rise another 5% this year. 

The study also revealed that:

  • Roughly 63% of all homeowners have seen their equity increase since Q1 2016

  • The average homeowner gained about $14,000 in equity between Q1 2016 and Q1 2017

  • Only 1.6% of residential properties are near-negative equity

Below is a map showing the percentage of homes with a mortgage, in each state, that have positive equity. (The states in gray have insufficient data to report.)

Image title



Significant Equity Is On The Rise

Frank Martell, President & CEO of CoreLogic, believes this is great news for the “long-term health of the U.S. economy.” He went on to say:

“Homeowner equity increased by $766 billion over the last year, the largest increase since Q2 2014. The rising cushion of home equity is one of the main drivers of improved mortgage performance. Since home equity is the largest source of homeowner wealth, the increase in home equity also supports consumer balance sheets, spending and the broader economy.”

Of the 93.9% of homeowners with positive equity in the US, 78.8% have significant equity (defined as more than 20%). This means that nearly three out of four homeowners with a mortgage could use the equity in their current home to purchase a new home, now.

The map below shows the percentage of homes with a mortgage, in each state, that have significant equity. (The states in gray have insufficient data to report.)

Image title


Bottom Line 

If you are one of the many homeowners who are unsure of how much equity they have in their homes and are curious about their ability to move, let’s meet up to evaluate your situation.


Lance Whipple PA Headshot
Author:
Phone: 407-494-6030
Dated: August 8th 2017
Views: 97
About Lance: My name is Lance Whipple and I help first-time homebuyers, international investors, “active adults...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

SunRail Station Opens Up In Meadow Woods Florida - Dislike I-4 traffic and thinking
JUST SOLD 131 BLOOMINGDALE DRIVE DAVENPORT FL 33897 - SOLD!!!  Congratulations to
Have You Outgrown Your Starter Home - Have You Outgrown Your Starter?
Modern Design Vacation Home In Four Corners - Are you looking for a vacation

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

EXIT Realty Champions
7830 Lake Wilson Road
Davenport, FL
863-292-6217
321-445-5568