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Home > home equity > 76% Of US Homeowners Now Have at Least 20% Equity in Their Homes!

76% Of US Homeowners Now Have at Least 20% Equity in Their Homes!

76% Of US Homeowners Now Have at Least 20% Equity in Their Homes!

Home Selling Home Equity
CoreLogic’s latest Equity Report revealed that 91.1% of all mortgaged properties are now in a positive equity situation, while 75.9% now have significant equity (defined as more than 20%)! The report also revealed that 548,000 households regained equity in the second quarter of 2016 and are no longer under water.

Price Appreciation = Good News for Homeowners

Frank Nothaft, CoreLogic’s Chief Economist, explains:

“Home-value gains have played a large part in restoring home equity. The CoreLogic Home Price Index (HPI) for the U.S. recorded 5.2 percent growth in the year through June, an important reason that the number of owners with negative equity fell by 850,000 in the second quarter from a year earlier.”

Anand Nallathambi, President & CEO of CoreLogic, believes this is a great sign for the market in the coming year as well, as he had this to say:

“We see home prices rising another 5 percent in the coming year based on the latest projected national CoreLogic Home Price Index. Assuming this growth is uniform across the U.S., that should release an additional 700,000 homeowners from the scourge of negative equity.”

76% Of US Homeowners Now Have at Least 20% Equity in Their Homes!

Below is a map illustrating the percentage of households in each state with significant equity: 

76% Of US Homeowners Now Have at Least 20% Equity in Their Homes! | Simplifying The Market

Many homeowners with more than 20% equity in their home would be able to use that equity as a down payment on either a larger home, or even a retirement home.

Bottom Line

If you are one of the many Americans who are unsure of how much equity you have in your home, don’t let that be the reason you fail to move on to your dream home this year!

76% Of US Homeowners Now Have at Least 20% Equity in Their Homes!

Sounds like it’s time to move up to your dream home today, an experienced Rapid City real estate agent can make the transition from selling your home to buying a new home a smooth one. Click to Call Jim Whittaker now 605-858-0775 and put our 30 years of experience using proven repeatable systems to work for YOU!

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Jim Whittaker

Rapid City Real Estate Agent

Jim-Whittaker

Broker Associate

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