{"id":575,"date":"2020-03-10T12:03:30","date_gmt":"2020-03-10T12:03:30","guid":{"rendered":"http:\/\/phphouses.com\/blog\/?p=575"},"modified":"2020-03-10T12:03:30","modified_gmt":"2020-03-10T12:03:30","slug":"home-equity-gain-growing-nearly-every-state","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/home-equity-gain-growing-nearly-every-state\/","title":{"rendered":"Home Equity Gain Growing in Nearly Every State"},"content":{"rendered":"
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Home Equity Gain Growing in Nearly Every State<\/p><\/div>\n

Rising home prices have been in the news a lot lately, and much of the focus is on whether they\u2019re accelerating too quickly and how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact they have on a homeowner\u2019s equity position.<\/p>\n

Home equity is defined as the difference between a home\u2019s fair market value and the outstanding balance of all liens on the property. While homeowners pay down their mortgages, the amount of equity they have in their homes climbs each time the value increases.<\/p>\n

Today, the number of homeowners that currently have significant equity in their homes is growing. According to the\u00a0Census Bureau<\/em><\/a>, 38% of all homes in the country are mortgage-free. \u00a0In a\u00a0home equity study<\/a>,\u00a0ATTOM Data Solutions<\/em>\u00a0revealed that of the 54.5 million homes with a mortgage, 26.7% of them have at least 50% equity. That number has been increasing over the last eight years.<\/p>\n

CoreLogic<\/a><\/em>\u00a0also notes:<\/p>\n

\u201c\u2026the average homeowner gained approximately $5,300 in equity during the past year.\u201d<\/em><\/p><\/blockquote>\n

The map below shows a breakdown of the increasing equity gain across the country, painting a clear picture that home equity is growing in nearly every state.<\/p>\n

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Breakdown of the Increasing Home Equity Gain across the US<\/p><\/div>\n

Bottom Line<\/strong><\/h3>\n

This may be the year to take advantage of your home equity by applying it forward, either as you downsize or as you move up to a new home.<\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719
\nFax:\u00a0(407) 205-1951
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
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Financial Benefits Finish Reading Home Equity Gain Growing in Nearly Every State<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[59,15,129,18,91,128,32,49,42,23,40,20,48,28,54,19],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/575"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=575"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/575\/revisions"}],"predecessor-version":[{"id":579,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/575\/revisions\/579"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}