DAILY REAL ESTATE NEWS | WEDNESDAY, NOVEMBER 02, 2016
Thanks to rising home prices, home owners are getting richer, a new study says. The amount of homeowner equity has doubled in the last five years, according to CoreLogic’s latest Home Price Index and HPI Forecast for September 2016.
"Home equity wealth has doubled during the last five years to $13 trillion, largely because of the recovery in home prices," says Frank Nothaft, chief economist for CoreLogic. "Nationwide during the past year, the average gain in housing wealth was about $11,000 per home owner, but with wide geographic variation."
Home owners in several markets across California, Washington, Oregon, Colorado, and Utah are seeing some of the most growth, with double-digit home price gains.
Home owners nationwide likely are to see even more equity in the coming months, too.
“Home-price growth creates wealth for owners with home equity,” says Anand Nallathambi, president and CEO of CoreLogic. “A 5 percent rise in home values over the next year would create another $1 trillion in home equity wealth for home owners.”
This is a very interesting article that may hopefully get some potential buyers off the fence to purchase a home. Those that rent off course don't build any equity, so it makes perfect sense to take the big step and buy!
Author:Jaime Salgado Phone: 432-770-5116 Dated: November 3rd 2016 Views: 2,333 About Jaime: I am not an ordinary real estate agent. I am a Top Producer. That means that I work diligently to me...
View our latest blog posts in your RSS reader. Click here to access.
Trust JPS Realty and our amazing team of professional real estate agents to help you find homes for sale or to sell your current home. We recognize the level of service that todays consumer expect and demand. We want to be part of your team that helps you achieve the american dream of home ownership. We possess experience, integrity, innovation, and care. Together we can make your dreams a reality. Texas Real Estate Commission Consumer Protection Notice
Home Owners Should Feel Twice as Rich DAILY REAL ESTATE NEWS | WEDNES
"We asked Gina to be our realtor when we bought our first house in 2009, in 2014 we asked her again to sell our house, and again she came through...words can not even explain how amazing she is. Gina is very profesional and prompt, she will answer any questions or concerns even when she's out of town or on vacation;) We are very grateful for her and consider her more than a friend,to us she is like family. She has helped tremenendously with this life changing experience.