Nov 3 2016 26157 1

Dated: 11/03/2016

Views: 3087

Home Owners Should Feel Twice as Rich

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!

Blog author image

Jaime Salgado

I am not an ordinary real estate agent. I am a Top Producer. That means that I work diligently to meet every client’s individual wants and needs. And, my clients like that. Why do Top producers c....

Latest Blog Posts

DO NOT LET FEAR STOP YOU

REALLY, don't let fear stop you from getting a new home (when you need to sell your current home first.)   Or, another way to put it is:  What are some of the most common fears

Read More

AUTUMN IS A GREAT TIME IN WEST TEXAS

 AUTUMN  is a great time of year!  Absolutely my favorite season!  The weather is changing from the sweltering heat of summer to a cooler, crisper temperature.  Many

Read More

Avoid Being Scammed

Holiday season is in full effect and so are scammers. Please be careful before you hand some stranger a large deposit for a rental. Usie a Realtor for all your real estate needs.To avoid being

Read More

Nov 3 2016 26157 1

Home Owners Should Feel Twice as Rich 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

Read More