712,000 Homes in the US Regained Equity in the Past 12 Months!

CoreLogic’s latest Equity Report revealed that “over the past 12 months, 712,000 borrowers moved into positive equity.” This is great news, as the share of homeowners with negative equity (those who owe more than their home is worth), has dropped more than 20% since the peak in Q4 of 2009 (26%) to 4.9% today.

The report also revealed:

• The average homeowner gained approximately $14,900 in equity during the past year.
• Compared to Q3 2016, negative equity decreased 22% from 3.2 million homes, or 6.3% of all mortgaged properties.
• U.S. homeowners with mortgages (roughly 63% of all homeowners) have seen their equity increase by a total of $870.6 billion since Q3 2016, an increase of 11.8%, year-over-year.

The map below shows the percentage of homes by state with a mortgage and positive equity. (The states in gray have insufficient data to report.)

Significant Equity Is on The Rise

Frank Nothaft, Chief Economist at CoreLogic, believes this is great news for the “housing market.” He went on to say:

“Homeowner equity increased by almost $871 billion over the last 12 months, the largest increase in more than three years. This increase is primarily a reflection of rising home prices, which drives up home values, leading to an increase in home equity positions and supporting consumer spending.”

Of the 95.1% of homeowners with positive equity in the U.S., 82.9% have significant equity (defined as more than 20%). This means that more than three out of four homeowners with a mortgage could use the equity in their current home to purchase a new home now.

The map below shows the percentage of homes by state with a mortgage and significant equity.

Bottom Line

If you are one of the many homeowners who are unsure of how much equity you have in your home and are curious about your ability to move, let’s meet up to evaluate your situation.

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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

18983 N 259th Lane Buckeye, AZ 85396

New

$459,000

2 Beds

2 Baths

1,569 SqFt

Status Active

MLS # 6694613

Property Type Single Family Residence

Price Type --

Better than New, immaculate Hideaway Model with Smart Home Features. 2-bed/2-bath, split floor plan w/ upgraded plank tile flooring and ''leather'' granite countertops. Designer light fixtures & custom window treatments. Open concept living offers plenty of room for dining & entertaining. Extended height, soft close cabinets, SS appliances & walk-in pantry. The spacious primary bedroom has a large bathroom, dual sinks, walk in shower & walk-in closet. Charming guest bedroom w/adjacent bath. Enjoy the beautiful landscape from the extended back patio with privacy wall and pavers. 2 car garage with tandem 4ft extension, great for a golf cart, or additional storage. Additional features: Soft water system, tankless water heater, security door, additional iron fencing with gate access on both sides of the house. Front & backyard pavers & drip system for landscaping. Sun City Festival is an active adult community with plenty of activities. Complete gym, pickleball court, group classes, 27-hole golf course, 2 resort-style pools, onsite rec center, walking trails, and an indoor walking track. Don't miss the opportunity, come see this home today.

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8723 E Sandtrap Court Gold Canyon, AZ 85118

$459,000

2 Beds

2 Baths

1,812 SqFt

Status Active

MLS # 6553229

Property Type Townhouse

Price Type --

Price reduction and seller willing to do below market rate seller financing. Contact agent for details. Welcome to this beautiful 2-bed, 2-bath Townhome in the gated Fairway Views! A paver courtyard and a 2-car garage w/attached cabinets are just the beginning. Inside the previous owner completely remodeled the interior of this home in 2021. New vinyl flooring, interior paint, custom Stone Creek cabinets in kitchen, bathrooms, laundry, and dry bar. New quartz countertops with travertine backsplash, baseboards, doors, custom showers and bathtub, new water heater/RO/water softner and Pella sliding doors. New light fixtures/fans, faucets and supply lines, Whirlpool print resistant appliances, Zephyr wine and beverage cooler with separate temperature settings and lots more! Home has desirable open layout, layered crown molding, a skylight, neutral paint and tons of natural light. Master bedroom has backyard access and an ensuite with dual sinks, travertine step-in shower, & a walk-in closet. Secondary bedroom also includes a private bathroom for added comfort. Enjoy the private backyard offering a covered patio, pavers, built-in BBQ, & exterior fireplace for chilly nights! You MUST see it!

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3007 E Woodland Drive Phoenix, AZ 85048

$459,000

3 Beds

2 Baths

1,242 SqFt

Status Active

MLS # 6614031

Property Type Single Family Residence

Price Type --

NEW ROOF March 2024! Welcome to Mountain Park Ranch! This gem won't be around long, so be sure to plan your visit today! The seller has taken great care and added many improvements such as the kitchen renovation in 2017, the master bathroom remodel was completed in 2023, and the exterior was painted in 2020! The property is North/South facing, has an RV gate, is a corner lot and nearby the 202 freeway for an easy commute! The community offers lakes, parks, walking paths, there are multiple community pools nearby, and the house is kitty corner from Vista Canyon Park! There is plenty of shopping nearby such as Trader Joes, Dutch Brothers, Starbucks, Frys grocery store along with plenty of dining options!

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12002 N Rio Vista Drive Sun City, AZ 85351

$459,000

2 Beds

2 Baths

1,999 SqFt

Status Active

MLS # 6629615

Property Type Single Family Residence

Price Type --

WELCOME HOME TO THIS BEAUTIFULLY REMODELED TWO BEDROOM TWO BATH HOME. LOOKIG FOR AN ENTERTAINER'S KITCHEN BOASTS GRANITE COUNTER TOPS, UPDATED APPLIANCES, INDUCTION STOVE TOP, TONS OF STORAGE, KNOTTY ALDER CABINETS. THE BATHROOMS HAVE BEEN UPDATED WITH BEAUTIFUL WALK IN TILE SHOWERS. ENJOY THE BEAUTIFUL GOLF COURSE VIEWS AND SUNSETS IN YOUR SCREENED IN PATIO. ALL MAJOR TICKET ITEMS HAVE BEEN REPLACED WITHIN THE LAST 3 YEARS.

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