Equity Gains For Today's Homeowners

As home price appreciation has slowed down, homeowners today are still enjoying significant equity gains. Here’s what it means for you, even as the market moderates.

How Equity Has Grown in Recent Years 

Over the past few years, the number of homes for sale has not kept up with the demand from homebuyers, causing home prices to rise substantially. 

Even though home price appreciation has moderated this year, the average homeowner's equity has increased by $34,300 in the past year alone, according to the latest Homeowner Equity Insights report from CoreLogic.

And homeowners who have been in their homes longer likely have even more equity than they realize.

The Federal Housing Finance Agency (FHFA) map below shows how much home prices have risen on average over the past five years in different areas, driving equity growth. 

Why This Is So Important Right Now 

Homeowners can leverage their equity to achieve their goals, such as buying their next home. When they sell their current home, the equity built up in it comes back to them in the sale and can cover a large portion or even all of the down payment on their next home.

Therefore, homeowners who have been hesitating to sell should consider finding out how much equity they have and how it can help them with their next move. 

Bottom Line

Homeownership is a long-term game, and the equity gained over time can make a significant impact. By connecting with professionals, homeowners can find out how much equity they have in their homes and how to use it to fuel their next purchase.

Graham Team Real Estate • (702) 930-9551 • Team@grahamteamnv.com

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980 American Pacific Dr. Ste. 111 Henderson, NV 89014