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Is now the time to trade in your home?

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712,000 Homes in the US Regained Equity in the Past 12 Months!

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CoreLogic’s latest Equity Report revealed that “over the past 12 months, 712,000 borrowers moved into positive equity.” This is great news, as the share of homeowners with negative equity (those who owe more than their home is worth), has dropped more than 20% since the peak in Q4 of 2009 (26%) to 4.9% today.

The report also revealed:

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Significant Equity Is on The Rise

Frank Nothaft, Chief Economist at CoreLogic, believes this is great news for the “housing market.” He went on to say:

“Homeowner equity increased by almost $871 billion over the last 12 months, the largest increase in more than three years. This increase is primarily a reflection of rising home prices, which drives up home values, leading to an increase in home equity positions and supporting consumer spending.”

Of the 95.1% of homeowners with positive equity in the U.S., 82.9% have significant equity (defined as more than 20%). This means that more than three out of four homeowners with a mortgage could use the equity in their current home to purchase a new home now.

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Bottom Line

If you are one of the many homeowners who are unsure of how much equity you have in your home and are curious about your ability to move, let’s meet up to evaluate your situation. Call Jenny TODAY! 803 372 8033

Our philosophy is simple: Clients come first. We pledge to educate our Clients, preparing and assisting them to be confident about their real estate decisions. We will be in constant communication with our Clients, keeping them fully informed throughout the entire buying, selling and investing process. We believe that if you’re not left with an amazing experience, we haven’t done our job. We measure our success through the satisfaction of our clients. Jenny is with the Keller Williams Charlotte Ballantyne Area office and serves South Carolina and North Carolina. Visit Jenny Online at www.JennyLinich.kw.com or www.newhousesfortmillsc.com or reach out at 803 372 8033.

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Updated: 31st January, 2018 8:23 PM.