01/19

Homeowners See Equity Gains


If you’re a homeowner, then chances are – you’ve been seeing your housing wealth rise over the last couple of years.

According to the National Association of Realtors®, homeownership is the largest source of wealth among most families. Gay Cororaton, NAR®’s Research Economist, explains: “The past five years have seen increasingly rapid price appreciation. A single-family purchase from 10 years ago would have gained $225,000 in home equity if they sold at the median sales price of $363,100 in the third quarter of 2021.”

How does equity rise? – A combination of paying down one’s mortgage and the appreciation in home prices.

Take a moment to review NAR®’s home equity gains inforgraphic below:

This image has an empty alt attribute; its file name is NAR-Infographic.jpg

For more real estate news, stop by Kittitas Title’s Blog.

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments