Here's How Much Home Equity Rose in a Single Year
Posted by West + Main Homes on
Being a homeowner can pay off in many ways- and in same cases it's even profitable after only one year of building equity.
Nationally, the average homeowner with a mortgage saw their equity shoot up by nearly $16,200 in the past year alone, according to a recent report by CoreLogic. (The real estate data firm compared the second quarter of this year to the second quarter of the previous year.) That's a 12.3% annual increase, thanks to fast-rising home prices across the country.
Homeowners on the West Coast accrued even more equity. In just one year, those who own homes in California gained an average $48,800 in home equity. That was the most in the country—and more than many folks earn in a year.
But the huge equity gains could slow down at…
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