Economic Outlook, the average American household gained over $11,000 in equity over the course of the last year, largely due to home value increases.
The map below was created from CoreLogic’s report and shows the average equity gain per mortgaged home from June 2015 to June 2016 (the latest data available).
For those that are worried that we are doomed to repeat 2006 all over again, it is important to note that homeowners are investing their new found equity in their homes and themselves, not in depreciating assets.
The added equity is helping families put their children through college, and even invest in starting small businesses, allowing them to pay off their mortgage sooner or move up to the home that will better suit their needs now.
CoreLogic predicts that home prices will appreciate by another 5% by this time next year. If you are a homeowner looking to take advantage of your home equity by moving up to your dream home, contact AMERICAN DREAM REALTY of AZ to discuss your options! Call Today 480 821 4900
Interested in learning your home’s value free? Allow us to help! http://americandreamrealtyaz.com/free-home-value-report/
“Realtor Rod Says”
Buying or selling may be good on either side. Many home owners have had awesome equity gains and can do well when selling (whatever the reason). CoreLogic predicts that homes prices will continue to raise. With that being said, you new buyers are also in a good position.
We would love to talk to you about the market values and the possibility of buying or selling. We are not high pressure but rather highly customer service focused. Give us a call and shoot us an email firstname.lastname@example.org
480 821 4900
Thanks Keep Current Matters.com and CoreLogic for data