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: 1,802 About Jaime: I am not an ordinary real estate agent. I am a Top Producer. That means that I work diligently to me...
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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 come to JPS Realty? They come here because JPS Realty gets results. And that is good for you and me. After all, when you’re buying or selling your house results are what we want and expect.
Moreover, our homes are lifetime investments that endear strong ties and cherished family memories. We understand that and take great care to be sensitive and professional.
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Home Owners Should Feel Twice as Rich DAILY REAL ESTATE NEWS | WEDNES
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