inception-app-prod/MWNjMmE1MWMtMTY1Ni00MmY4LThlNjEtYTNhMmNjNDlhZmY0/content/2021/12/eaa9713940918e708cf5eff9d38ff9b752b537ab.png
  • Search listings
  • About us
    • About us
    • Meet our team
    • Team Lunde & Gambino Realtors Office
  • Areas
    • Local Attractions
    • School Districts
    • Lifestyle living
  • Testimonials
  • Blog
    • Blog
    • Home Guide Magazine
    • Home Buyers Guide
    • Home Sellers Guide
  • Contact
    • Contact
    • Schedule an Appointment
  • Payment Calculator
815-985-9522
OpeningDoors@teamlunde.com
Sign In
Sign Up
inception-app-prod/MWNjMmE1MWMtMTY1Ni00MmY4LThlNjEtYTNhMmNjNDlhZmY0/content/2021/12/eaa9713940918e708cf5eff9d38ff9b752b537ab.png
  • Search listings
  • About us
    • About us
    • Meet our team
    • Team Lunde & Gambino Realtors Office
  • Areas
    • Local Attractions
    • School Districts
    • Lifestyle living
  • Testimonials
  • Blog
    • Blog
    • Home Guide Magazine
    • Home Buyers Guide
    • Home Sellers Guide
  • Contact
    • Contact
    • Schedule an Appointment
  • Payment Calculator
inception-app-prod/MWNjMmE1MWMtMTY1Ni00MmY4LThlNjEtYTNhMmNjNDlhZmY0/content/2021/12/eaa9713940918e708cf5eff9d38ff9b752b537ab.png
inception-app-prod/MWNjMmE1MWMtMTY1Ni00MmY4LThlNjEtYTNhMmNjNDlhZmY0/content/2022/03/5145ff1ad19e2e4b8f751a9f77d7bb24c50bfe05.jpg

The Average Homeowner Gained More Than $55K in Equity over the Past Year

Michael Lunde,03/25/2022

If you’re a current homeowner, you should know your net worth just got a big boost. It comes in the form of rising home equity. Equity is the current value of your home minus what you owe on the loan. Today, you’re building that equity far faster than you may expect – and this gain is great news for you.

Here’s how it happened. Home values are on the rise thanks to low housing supply and high buyer demand. Basically, there aren’t enough homes available to meet this high buyer interest,  so bidding wars are driving home prices up. When you own a home, the rising prices mean your home is worth more in today’s market. And as home values climb, your equity does too. As Dr. Frank Nothaft, Chief Economist at CoreLogic, explains:

“Home prices rose 18% during 2021 in the CoreLogic Home Price Index, the largest annual gain recorded in its 45-year history, generating a big increase in home equity wealth.”

The latest Homeowner Equity Insights from CoreLogic shed light on just how much rising home values have boosted homeowner equity. According to that report, the average homeowner’s equity has grown by $55,300 over the last 12 months.

Want to know what’s happening in your area? Here’s a breakdown of the average year-over-year equity growth for each state based on that data.

The Average Homeowner Gained More Than $55K in Equity over the Past Year | MyKCM

How Rising Equity Impacts You

In addition to building your overall net worth, equity can also help you achieve other goals like buying your next home. It works like this: when you sell your house, the equity you built up comes back to you in the sale.

In a market where you’re gaining so much equity, 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 and worried about being priced out of your next home because of today’s home price appreciation, rest assured your equity can help fuel your move.

Bottom Line

Equity can be a real game-changer if you’re planning to make a move. To find out just how much equity you have in your home and how you can use it to fuel your next purchase, let’s connect so you can get a professional equity assessment report on your house.

Print Details
Previous post
Next post
The Many Benefits of Homeownership
Did Your Dream Home Just Come on the Market?

Address

Gambino Realtors & Team Lunde
3815 N MulfordRockford
IL 61114
(815) 985-9522
Openingdoors@teamlunde.com

Areas

  • Local Attractions
  • Lifestyle living
  • School Districts
  • Riverfront Properties
  • Golf course listings

About

  • About us
  • Our office
  • Meet our team
  • Testimonials
  • Schedule an Appointment

Consumer Protection & Privacy

  • DMCA Compliance
  • Accessibility
For ADA assistance, please email compliance@placester.com. If you experience difficulty in accessing any part of this website, email us, and we will work with you to provide the information.
inception-app-prod/MWNjMmE1MWMtMTY1Ni00MmY4LThlNjEtYTNhMmNjNDlhZmY0/content/2021/12/aefd3d3a951e1633896ee11c96b81fcba1c1cae2.png

© 2022 All rights reserved

Created with Placester

Sign in

Sign In
Forgot your password?
Create an account
You have been successfully logged in
The page will reload automatically.
Go to the homepage
Sorry something went wrong
Login or password are incorrect. Please try again.
Try again

Sign Up

Sign Up
Already a User? Sign In
You have been successfully registered
Please check your email.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Reset password

Reset password
Return to Log In
Reset password email has been sent.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Change password

Change password
Sign Up
Your password has been successfully reset.
Go to the homepage
Sorry something went wrong
Please try again.
Try again
Send
Success! Your message was sent!
Great! Someone will be in touch with you shortly!
Back to homepage
Oops! Error occurred.
Please try again.
Back to form
Already a User? Sign In

Account verification in progress

Account Verified!
You may now log in into your account
Go to the homepage
Verify your email address
In order to log in to your account, you need to confirm your email address. Please check your inbox!
Go to the homepage

Share this listing

Copy Link