It pays to be a homeowner – especially now.
According to the Home Equity Report by CoreLogic, homeowners gained $6,400 in home equity between the first quarter of 2018 and the first quarter of this year.
That’s an equity increase of 5.6%!
Frank Martell, President and CEO of CoreLogic, explains, “We expect home equity to continue increasing nationally in 2019, albeit at a slower pace than in recent years.”
The top ten states with the highest average gain:
- Idaho – $21K
- Nevada – $21K
- Wyoming – $20K
- Utah – $19K
- New York – $17K
- Hawaii – $16K
- Colorado – $14K
- Arizona – $14K
- Massachusetts – $14K
- South Dakota – $12K
And that’s not all.
Those who owe more on their mortgage than their home’s current value also dropped in the first quarter – these households dropped to 4.1% of all mortgaged properties.