Home equity continues to increase

Given the continued appreciation of home prices, it’s no surprise that CoreLogic’s Home Equity Report states that U.S. homeowners with a mortgage saw an increase in equity of 8.1 percent year over year. The average homeowner saw home equity gains of approximately $9,000 between the fourth quarter of 2017 and the fourth quarter of 2018.

The number of homes with negative equity, where the loan balance is higher than the home’s current worth sits at 2.2 million or 4.2 percent of all mortgaged properties.

Given that home prices are predicted to rise 4.5 percent over the next year, this number should be reduced by 350,000.

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