When you’re under contract on a new house, it’s easy to fall in love with its potential. But before you linger on cloud nine too long, you’ll need the reality check of a home inspection.
Homeowners Gain An Average Of 64K In Equity From Q1 2021 To Q1 2022
Dated: June 30 2022
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When you buy a home, you want to gain equity in that home over time.
So, when it comes to equity, how did homeowners fare over the past year? According to the most recent Home Equity Insights Report from CoreLogic, homeowners did very well.
According to the report, homeowners gained, on average, approximately $64,000 in equity between Q1 2021 and Q2 2022—although many states saw much larger average equity gains for homeowners, including California ($141,000), Hawaii ($139,000), and Washington ($119,000). Overall, U.S. homeowners with mortgages (which makes up 62 percent of all properties) saw their equity increase by a whopping $3.8 trillion between Q1 2021 and Q2 2022—a year-over-year change of 32.2 percent.
The Takeaway:
If you’re a homeowner, chances are, you’ve gained some equity in your home over the past year—and if you’re planning to sell and/or buy a new home, understanding those equity gains is a must.
Kelly Combs
My name is Kelly Combs and I am a native of Fredericksburg, Va., born and bred. I grew up in the 80’s when Fredericksburg was a small rural town, and I had the joy of evolving from a child to an adu....
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