Since 2011, home price appreciation across the United States has made significant increases resulting in a near doubling of home-equity wealth for homeowners. Indeed, CoreLogic’s Chief Economist Dr. Frank Nothaft described the increase as dramatic and reported that between June 2011 and June 2016, home-equity wealth grew from $6.1 trillion to $12.7 trillion.
Using their data sources from mid-2015 to mid-2016, CoreLogic sought to show the impact these increases have had on the average homeowner. Their finding revealed that the national average home-equity wealth gain for mortgaged homes was $11,152 per homeowner.
However, Idaho, Montana and Washington’s average home-equity wealth gain per homeowner exceeded the national average. Idaho homeowners averaged a $12,000 gain while Montana and Washington saw a $13,000 and $29,000 average gain, respectively. To read CoreLogic’s full report, visit http://bit.ly/2e3txcQ.