Homeowners Still Have Positive Equity Gains over the Past 12 Months
Andy Rose
Andy brings to the table over 12 years of real estate experience including becoming a licensed Georgia broker in 2018 and a licensed Broker in Fl...
Andy brings to the table over 12 years of real estate experience including becoming a licensed Georgia broker in 2018 and a licensed Broker in Fl...
If you’re a homeowner, your net worth got a big boost over the past few years thanks to rapidly rising home prices. Here’s how it happened and what it means for you, even as the market moderates.
Equity is the current value of your home minus what you owe on the loan.
Because there was a significant imbalance between the number of homes available for sale and the number of buyers looking to make a purchase over the past few years, home prices appreciated substantially.
And while home price appreciation has moderated this year, and even depreciated slightly in some overheated markets, that doesn’t mean you’ve lost all the equity you gained during the pandemic frenzy.
To prove you still have equity you can use, the latest Homeowner Equity Insights from CoreLogic finds the average homeowner equity has actually grown by $34,300 over the past 12 months.
That’s right, despite the headlines, the average homeowner still gained positive equity over the last year in just about every market. While the gains aren’t as dramatic as they were in the previous quarter due to home price moderation, they’re still significant. And if you’ve been in your home for longer than a year, chances are you have even more equity than you realize.
While that’s the national number, if you want to know what happened over the past year in your area, look at the map below from CoreLogic:
Why This Is So Important Right Now
While equity helps increase your overall net worth, it can also help you achieve other goals, like buying your next home. When you sell your current house, the equity you’ve built up comes back to you in the sale, and it may be just what you need to cover a large portion – if not all – of the down payment on your next home.
So, if you’ve been holding off on selling because you weren’t sure what the headlines meant for your bottom line, rest assured you’ve still gained equity in recent years, and it can help fuel your move.
If you’re planning to make a move, the equity you’ve gained over time can make a big impact. To find out just how much equity you have in your current home and how you can use it to fuel your next purchase, let’s connect.
Whether you are Buying or Selling, we are here to help along the way.
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Client Love!
He made the process of easy!! Would highly recommend him and Stephanie.
Andy did a great job!! Even after the buying and selling was done, he still followed up with us. He made the process of easy!! Would highly recommend him and Stephanie.
Cash in hand above asking within 10 days!
Our home was on the market for 8 months with multiple failures to close and numerous frivolous and expensive repairs being made before we were introduced to Andy. Within 10 days after we selected Andy as our... Read full review
Will work hard for his clients!
Andy did a great job for us in the sale of our house. We had relocated out-of-state and needed to just 'unload' our house. Andy was able to find us a buyer and close the sale. He is a great agent who will work... Read full review
Seriously amazing people!
Team Rose was very diligent in helping find our home. Very helpful, knowledgeable, and treated us like family. Seriously amazing people & always willing to help. They will help you find your dream home, no...
Andy was awesome!
Andy was awesome! He helped us find the right home, at the right price, in the right area. We were working with a very tight time schedule, Andy did a great job of finding and showing us houses that fit what we... Read full review
Helped us find our dream home!
Very helpful, always available, quick to respond, great listener, helped us find our dream home
He made the process of easy!! Would highly recommend him and Stephanie.
Andy did a great job!! Even after the buying and selling was done, he still followed up with us. He made the process of easy!! Would highly recommend him and Stephanie.
Cash in hand above asking within 10 days!
Our home was on the market for 8 months with multiple failures to close and numerous frivolous and expensive repairs being made before we were introduced to Andy. Within 10 days after we selected Andy as our realtor we had closed with cash in hand above our asking price. Select Andy as your realtor as soon as possible because his enthusiasm, prompt actions, professionalism and expertise will likely yield a transaction experience that is as pleasant and profitable as possible.
Will work hard for his clients!
Andy did a great job for us in the sale of our house. We had relocated out-of-state and needed to just 'unload' our house. Andy was able to find us a buyer and close the sale. He is a great agent who will work hard for his clients. If you need a realtor, I can't recommend Andy enough.
Seriously amazing people!
Team Rose was very diligent in helping find our home. Very helpful, knowledgeable, and treated us like family. Seriously amazing people & always willing to help. They will help you find your dream home, no matter what it may be.
Andy was awesome!
Andy was awesome! He helped us find the right home, at the right price, in the right area. We were working with a very tight time schedule, Andy did a great job of finding and showing us houses that fit what we were looking for. Give Andy a call when looking for your next home!
Helped us find our dream home!
Very helpful, always available, quick to respond, great listener, helped us find our dream home
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