651,000 Homeowners Regained Equity Last Year!

CoreLogic’s latest Equity Report revealed that "over the past 12 months, 651,000 borrowers moved into positive equity." This is great news as the share of homeowners with negative equity (those who owe more than their home is worth) has dropped more than 20% since the peak in Q4 of 2009 (26%) to 4.7%  present day.

The report also revealed: • The average homeowner gained approximately $16,300 in equity during the past year. • Compared to Q1 2017, negative equity decreased 21% from 3.1 million homes, or 6.1% of all mortgaged properties. • U.S. homeowners with mortgages (roughly 63 percent of all homeowners) have seen their equity increase by a total of $1.01 trillion since Q1 2017, an increase of 13.3% year-over-year.

The map below shows the percentage of homes by state with a mortgage and positive equity. (The states in gray have insufficient data to report.)

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