Skip to main content

Home Equity Levels Rise in Q2

Phil Hall
Sep 20, 2018
Today’s average homebuyer earns more than 62.7 percent of all households, up from 59.8 percent in 2012, according to new data from Zillow

Homeowners with mortgages saw a 12.3 percent increase in their equity between the second quarters of 2017 and 2018, according to data from CoreLogic. For the average homeowner, this represented a gain of $16,200.
 
Perhaps not surprisingly, the pricey West Coast markets experienced the greatest equity gains. California homeowners pocketed an average of approximately $48,800 in home equity and Washington homeowners experienced an average increase of approximately $41,100 in home equity over the 12-month period analyzed by CoreLogic.
 
Also, the total number of mortgaged homes in negative equity decreased nine percent to 2.2 million homes, or 4.3 percent of all mortgaged properties, between the first and second quarters of this year. On an annualized measurement, the number of mortgaged properties in negative equity fell 20.1 percent from 2.8 million homes, or 5.4 percent of all mortgaged properties, in the second quarter. The national aggregate value of negative equity was approximately $279.8 billion at the end of the second quarter, down from $285.3 billion in the first quarter.
 
“Negative equity levels continue to drop across the US with the biggest declines in areas with strong price appreciation,” said Frank Martell, President and Chief Executive Officer of CoreLogic. “Further, the relatively low level of shadow inventory contributes to the chronic shortage of housing supply and price increases in many markets.”
Homeowners with mortgages saw a 12.3 percent increase in their equity between the second quarters of 2017 and 2018, according to data from CoreLogic

 
Published
Sep 20, 2018
ChainLogix Appoints New Vice President, Operations

Jeryl Graham hired to accelerate growth in title & mortgage services.

Industry News
Oct 15, 2021
JPMorgan Chase To Commit $8.4M To Improve Household Stability For The Underserved

JPMorgan Chase announced six organizations that will receive philanthropic capital as part of the firm’s $400 million five-year commitment to improve housing affordability and stability for Black, Hispanic and Latino, and other underserved households.

Community
Oct 15, 2021
SRE Mortgage Alliance 'Restructuring & Reorganizing'

Owner of technology-based wholesale residential mortgage lender in El Segundo to determine organization's future.

Wholesale
Oct 15, 2021
Ginnie Mae Issued Record MBS Volume In FY2021

The record $939 billion issued included nearly $73 billion in September.

Industry News
Oct 14, 2021
UWM Completes Test Of Cryptocurrency Mortgage Payments

United Wholesale Mortgage evaluated and accepted the first-ever cryptocurrency mortgage payment in September and an additional five payments in October from borrowers.

Industry News
Oct 14, 2021
Arvielo Re-Appointed To HUD Advisory Committee

Nationwide mortgage lender New American Funding’s Co-Founder and President Patty Arvielo has been re-appointed to serve on the U.S. Department of Housing & Urban Development's Housing Counseling Federal Advisory Committee.

Industry News
Oct 13, 2021