According to CoreLogic’s most recent Equity Report, over 90,000 properties regained equity in the first four months of 2017. This means that 48.2 million mortgaged properties in this country are now in positive equity, which is a great sign for the housing market this year.
This rise in home equity has been the largest increase since 2014, with over $766 billion in equity growth. Not only does this improve mortgage performances, it also adds to homeowner wealth, supports consumer balance sheets, and stimulates the economy.
This is great news for homeowners, being that over ¾ of them now have more than 20% positive equity in their homes, which more and more homeowners are becoming aware of according to Fannie Mae’s HPSI survey.
This is the second time in the history of this survey that the consensus that it is a good time to sell has transcended the consensus that it is a good time to buy.
This means that homeowners now have the ability to take part in the seller’s market, opening up the possibility of moving into a housing situation that more closely fits their growing needs. Now, homeowners have the chance to sell their homes and come out of the situation with a profit rather than losing money in the pursuit of a new home.
If you’re one of the many Americans uncertain about how much equity you’ve accumulated in your house, don’t let that stop you from finding your dream home in 2017. You may be closer to being able to purchase a home that suits your individual needs now than ever before. For your convenience, there is valuable material available through the Things to Consider When Selling Your House E-book. Let’s collaborate and access your situation!
Want more information on home equity? I’m Edwena Potter with the DFW Real Estate Team. I’m here to help you with all your real estate needs. Please visit my website for current listings, call me at (469) 616-0561, or email me at Info@DFWSeniorRealEstate.com.
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