October 20, 2021
Real Estate

Soaring home prices juice average US homeowner equity growth

LOS ANGELES (AP) — Soaring home prices have pushed up average homeowner equity growth to the highest level in more…

LOS ANGELES (AP) — Soaring home prices have pushed up average homeowner equity growth to the highest level in more than a decade, though recent signs of a cooling U.S. housing market point to more moderate gains in the second half of the year.

Homes with a mortgage gained an average of $51,500 in equity in the second quarter, an increase of 29.3% from the April-June quarter last year, according to real estate information company CoreLogic. That’s the highest quarterly average gain in home equity since the second quarter of 2010, the firm said.

That works out to nearly $3 trillion in equity gained by U.S. homeowners with a mortgage, which is about 63% of all homes, CoreLogic said. Average…

Read full article here: wtop.com