CoreLogic’s latest Equity Report revealed that 675,000 US homeowners regained positive equity in their homes. This is great news for the country, as 95.1% of all mortgaged properties are now in a positive equity situation.
“U.S homeowners with mortgages (roughly 63% of all the properties) have seen their equity increase by a total of $908.4 billion since the fourth quarter 2016, an increase of 12.2%, year over year.” This is great news for homeowners! But, do they realize that their equity position has changed?
To view your area stats check out the the April monthend market report from our Northeast Florida Association of Realtors: April Market Report
A study by Fannie Mae suggests that many homeowners are not aware that they have regained equity in their homes as their investment has increased in value. For example, their study showed that 23% of Americans still believe their home is in a negative equity position when, in actuality, CoreLogic’s report shows that only 4.9% of homes are in that position (down from 6.3% in Q4 2016). The study also revealed that only 37% of Americans believe that they have “significant equity” (greater than 20%) when in actuality, 83% do!
For more information or to schedule your free, no obligation in home market analysis please contact Phyllis Staines at (904) 476 – 7653 or email firstname.lastname@example.org..