Homeowners Gain in First Quarter – but How Much?

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.

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