What is the average equity us homeowners have? What is a good home equity percentage? Is using home equity a good idea?
According to real estate data provider Black Knight, U.S. tappable equity surpassed $6 trillion for the first time in 2018. This means that approximately 44 million homeowners with mortgages could have the opportunity to tap into their home equity to fund home improvements, debt consolidation or other financial or cash flow needs.
And as illustrated by the chart from data provider CoreLogic, US homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by $981 billion, or 12.3% in the past year. This means that the average homeowner has gained roughly $16,200 in home equity wealth!
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Kevin Brierton - 480.553.8770
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NMLS 599873
Caliber Home Loans nmls 15622
16430 N Scottsdale Rd ste 170
Scottsdale AZ 85254
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The Brierton Team serving all over Arizona and the greater phoenix area including Scottsdale, Phoenix, Mesa, Glendale, Gilbert, Tempe, Peoria, Surprise, Avondale, Buckeye Casa Grande, Maricopa, Apache Junction, Queen Creek, El Mirage, Florence, Fountain Hills, Eloy, Paradise Valley, Coolidge, Wickenburg, Tolleson, Litchfield Park, Cave Creek, Carefree.
We are here to Educate, Inform and Empower homebuyers and homeowners so they can make the BEST mortgage decision... Period. Kevin Brierton (NMLS 599873) Caliber Home Loans nmls 15622
PLEASE NOTE: THIS ARTICLE AND OVERVIEW IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE LEGAL, TAX, OR FINANCIAL ADVICE. PLEASE CONSULT WITH A QUALIFIED TAX ADVISOR FOR SPECIFIC ADVICE PERTAINING TO YOUR SITUATION. FOR MORE INFORMATION, PLEASE REFERENCE IRS PUBLICATION 527 AND ALSO IRS PUBLICATION 544.
