Today’s homeowners are sitting on significant equity, even as home price appreciation has eased recently. If you’re a homeowner, your net worth got a boost over the past few years thanks to rising home prices. Here’s what it means for you, even as the market moderates.

How Equity Has Grown ...

Experts agree there’s no chance of a large-scale foreclosure
crisis like we saw back in 2008, and that’s good news for the housing market.
As Mark Fleming, Chief Economist at First American, says:

“. . . don’t expect a housing bust like the mid-2000s, as
lending standards in this housing cycle ...

As the housing market cools in response to the dramatic rise
in mortgage rates, home price appreciation is cooling as well. And if you’re
following along with headlines in the media, you’re probably seeing a wide range
of opinions calling for everything from falling home prices to ongoing
appreciation ...

If you’re a homeowner, your net worth has gotten a big boost. That’s because recent home price appreciation has increased your equity.

Your equity grows as you pay down your loan and as your home increases in value. Over the past year, the average homeowner’s equity grew by $55 ...

According to CoreLogic, homeowners across the country are gaining significant equity.

Over the past year, the average homeowner gained $9,800 in equity, growing their overall net worth.

If you’re ready to sell your house and begin looking for your dream home, let’s connect to plan how your equity ...