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For The Love of People and Real Estate
  • About
    • The Beck Team
    • The Code of Ethics: 100 Years of Professionalism
  • All in, for you
  • Blog
  • COVID-19 Resources and Information
  • Podcast – Missoula Real Estate Today
  • Testimonials
  • Seller Resources
    • Seller’s Guide Spring 2020
    • Know the Value of Your Home
    • Marketing Your Property
  • Buyer Resources
    • Buyer’s Guide – Spring 2020
    • Community Resources
  • Missoula Neighborhoods
  • Real Estate by The Beck Team
  • Home
  • Your guide to all things Missoula!
  • Make It Missoula
  • We’re open for business!
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For The Love of People and Real Estate
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712,000 Homes in the US Regained Equity in the Past 12 Months!

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Diane Beck,01/12/2018

CoreLogic’s latest Equity Report revealed that “over the past 12 months, 712,000 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 4.9% today.

The report also revealed:

  • The average homeowner gained approximately $14,900 in equity during the past year.
  • Compared to Q3 2016, negative equity decreased 22% from 3.2 million homes, or 6.3% of all mortgaged properties.
  • U.S. homeowners with mortgages (roughly 63% of all homeowners) have seen their equity increase by a total of $870.6 billion since Q3 2016, an increase of 11.8%, 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.)

Significant Equity Is on The Rise

Frank Nothaft, Chief Economist at CoreLogic, believes this is great news for the “housing market.” He went on to say:

“Homeowner equity increased by almost $871 billion over the last 12 months, the largest increase in more than three years.This increase is primarily a reflection of rising home prices, which drives up home values, leading to an increase in home equity positions and supporting consumer spending.”

Of the 95.1% of homeowners with positive equity in the U.S., 82.9% have significant equity (defined as more than 20%). This means that more than 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 by state with a mortgage and significant equity.

Bottom Line

If you are one of the many homeowners who are 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! Call 406-360-7654!

 

Source: Keeping Current Matters, Inc. The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The Diane Beck Team does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.


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Windermere Real Estate
2800 South Reserve St.Missoula
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