76% Of US Homeowners Now Have at Least 20% Equity in Their Homes!
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:
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:
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.
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!
Posted on September 21, 2016 at 12:09 pm by Kaye Lewis