Equity Rises And So Does Your Wealth

Dated: October 5 2021

Views: 75

Image title

As Home Equity Rises, So Does Your Wealth

First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing


Homeownership is still a crucial part of the American dream. For those people who own a home (and those looking to buy one), it’s clear that being a homeowner has considerable benefits both emotionally and financially. In addition to long-term stability, buying a home is one of the best ways to increase your net worth. This boost to your wealth comes in the form of equity.

Equity is the difference between what you owe on the home and its market value based on factors like price appreciation.

The best thing about equity is that it often grows without you even realizing it, especially in a sellers’ market like we’re in now. In today’s real estate market, the combination of low housing supply and high buyer demand is driving home values up. This is giving homeowners a significant equity boost.

According to the latest data from CoreLogic, the amount of equity homeowners have has continued to grow as home values appreciate. Here are some key takeaways from the Homeowner Equity Insights Report:

  • The average homeowner gained $51,500 in equity over the past year

  • There was a 29.3% increase in national homeowner equity year over year

To give you an idea of what that looks like in your area, the map below shows the average equity gains by state.As Home Equity Rises, So Does Your Wealth | Simplifying The Market

What does all of that mean for you?

If you’re already a homeowner, you likely have more equity in your house than you realize. The numbers in the map above reflect year-over-year growth. If you’ve been in your home for longer than a year, you’ll likely have even more equity than that. That equity can take you places. You can use the equity you’ve gained to fuel your next move, achieve other life goals, and more.

On the other hand, if you haven’t purchased a home yet, understanding equity can help you realize why homeownership is a worthwhile goal. Homeowners across the nation gained an average of over $50,000 in equity this year. Don’t miss out on this chance to grow your net worth.

Bottom Line

If you want to learn more, let’s connect. A trusted advisor can help you understand where home prices are today, how they contribute to a homeowner’s net worth, and the impact equity can have when you own a home.


Robin Cantrell, Realtor 


The Glover Team Inc.
United Real Estate Premier, 
540-845-7651 cell#
540-374-1111 office#
992 Bragg Rd., Suite A, Fredericksburg VA 22407
Licensed in the Commonwealth of Virginia
Robin.thegloverteam@gmail.com
 
Text robin to 540-369-8076 to access my mobile MLS app

Blog author image

Robin Cantrell

Real estate is a natural extension of my passion for family and community. In my spare time, I can be found spending time with my family, enjoying the outdoors on the local walking trails or doing....

Latest Blog Posts

Add Some Holiday Cheer

Selling soon? Adding some holiday cheer to your home will definitely put your prospective buyers in the Christmas spirit!Your decorated home will offer the kind of warmth that appeals to

Read More

Home Is Where The Heart Is

Home Is Where the Heart Is More than Ever This Year  First Time Home Buyers, For Buyers, Move-Up BuyersThere’s no denying the financial benefits of homeownership, but

Read More

5 Tips To Keep Holiday Spending From Trampling Your Down Payment Fund

As the holiday season moves into full swing, you might have your eye on a big gift for yourself: your first home. At this time of year, though, saving for a down payment and closing costs can seem

Read More

11 Steps To Winterize A House

11 Steps to Winterize a HouseKeep your house warm and damage-free all winter with these tips.Extreme winter weather can leave neighborhoods and communities without power or other public services

Read More