Home Equity Increases, Homeowners 8% Richer Over the Past Year
Home equity continued to increase in the fourth quarter of 2018, with more homeowners profiting over rising home prices. U.S. homeowners with a mortgage saw their equity rise by 8.1 percent year over year in the fourth quarter of 2018, according to CoreLogic's Home Equity Report, released Thursday.
The average homeowner has gained $9,700 in home equity between the fourth quarter of 2017 and the fourth quarter of 2018, the report showed. Western states saw some of the most significant annual gains. Nevada homeowners, for example, saw an increase of $29,400 in home equity over the past year, and Hawaii homeowners saw gains of about $26,900.