Homeowners with mortgages saw their equity jump by 20% in the first quarter from a year earlier.
Those with mortgages — about 62% of all properties — saw their equity jump by 20% in the first quarter from a year earlier, according to CoreLogic. This represents a collective cash gain of close to $2 trillion. Per borrower, the average gain was $33,400. "Homeowner equity has more than doubled over the past decade and become a crucial buffer for many weathering the challenges of the pandemic," said Frank Martell, president and CEO of CoreLogic. "These gains have become an important financial tool and boosted consumer confidence in the U.S. housing market, especially for older homeowners and baby boomers who've experienced years of price appreciation.
DianaOlick Great home price gain read. Noticed it mentioned 'High demand for homes spurred by covid pandemic amid already low supply caused bidding wars in markets across nation & low mortgage rates added to buying frenzy & helped fuel price gains' this is excellent data too. 🏡
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