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CoreLogic: Home equity levels surge on price growth


U.S. homeowners gained nearly an additional $1 trillion in home equity in the year through the second quarter, CoreLogic reported.

The gain was $981 billion since the second quarter of 2017, up 12.3 percent year over year. CoreLogic is tracking homeowners with mortgages, which represent just over 60 percent of all properties.

The average homeowner’s equity increased by $16,200 in the year through June, the company said.

Western states saw the biggest increases. California led the way with homeowners gaining an average of $48,800. Other states with big gains included Washington state at $41,100; Nevada at $32,000; and Hawaii at $30,000

Negative equity levels, a situation where the homeowner’s debt exceeds the property’s market value, also continued to decline in most states due to strong home price appreciation, CoreLogic said.  


 

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