Record Equity Gains Can Power Your Next Move

Equity can be a real game-changer for current homeowners planning to make a move. According to the latest data from CoreLogic, the average homeowner gained $56,700 in equity over the past year, a number that grew substantially as home values appreciated.

For a homeowner, your equity is the current value of your home minus what you owe on the loan. Today, there aren’t enough homes on the market to meet buyer demand, so bidding wars and multiple offers are driving home values up, giving current homeowners a significant equity boost. Selma Hepp, Deputy Chief Economist at CoreLogic, explains it like this:

“Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”

Other experts agree. The graph below shows potential growth in household wealth based on the most recent projections from the Home Price Expectation Survey (HPES) by Pulsenomics. This data helps visualize how your household wealth is expected to continue building as home values rise.

How Rising Equity Impacts You

If you’re a homeowner, equity not only builds your wealth, but it also opens doors for you to achieve your financial goals.

It works like this: when you sell your house, the equity you built up comes back to you in the sale. You can use those proceeds to fuel your next move, especially if you’ve decided your needs have changed and you’re looking for something new.

Bottom Line

Let’s connect to determine if your current home equity can help you make your next move sooner than you may have thought possible.