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

712,000 Homes in the US Regained Equity in the Past 12 Months! | Simplifying The Market

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.)

712,000 Homes in the US Regained Equity in the Past 12 Months! | Simplifying The Market

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.

712,000 Homes in the US Regained Equity in the Past 12 Months! | Simplifying The Market

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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2518 E Osborn Road Phoenix, AZ 85016

$519,900
3 Beds
3 Baths
2,157 SqFt
Status Active
MLS # 6652619
Property Type Townhouse
Price Type --
Welcome to this stunning home in Sutton Place, a collaboration between Ralph Haver AIA and developer Dell Trailor! The home has been tastefully updated from top to bottom, with modern interior updates blending perfectly with the classic midcentury exterior. This quintessential community is conveniently located near Central Phoenix, Downtown, Biltmore Fashion Park, Arcadia, and Old Town Scottsdale, with nearby freeways providing easy access to Sky Harbor and the rest of the valley. Welcome home!

27012 W Marco Polo Road Buckeye, AZ 85396

$519,900 - 2Br/2Ba -  for Sale in Sun City Festival Parcels K1 And 01, Buckeye
Open House
$519,900
2 Beds
2 Baths
2,323 SqFt
Status Active
MLS # 6604996
Property Type Single Family Residence
Price Type --
FABULOUS FIESTA Model Home w/ LARGE Lot, 33 Pre-Paid SOLAR Panels, Newer 2019 HVAC, Newer 2019 Hot Water Heater & Fenced Backyard Waits Your Enjoyment. This Home has 10 Ft Ceilings, Popular Open Concept Floor Plan, Tiled Floors on the Diagonal in All the Right Places, Newly Carpeted Bedrms, Extra Can Lights in Great Rm, Den & Owners' Suite. REVEL in the GOURMET Kitchen w/ Granite Counter Tops, Island & Back Splash, UPGRADED Staggered Cabinets, Lower Cabinet Pull-out Shelves, 5 Burner Gas Cook Top, Newer 2019 French Door Refrigerator, Wine Cooler, Under Cabinet Lights and Pendant Lights. RELAX in the Spacious Great Room. Surround Sound Speakers in the Den & Owner's Suite. RETIRE to the Spacious Owner's Suite w/ Sliding Glass Door to Patio, Large Closet & the Owner's Bathrm w/ Tiled Walls & Counters. Guest Bedrm has a Jack & Jill Bathrm and a Walk-In Closet. Guest Bathrm has Tiled Walls and Counter. Laundry Rm has a Plenty of Counters, Cabinets, Deep Sink, Dryer & 2019 Washer. The 3 Car Garage has Epoxy Floors, Built-in Cabinets & Service Door. RELAX in the Extended Kool Dec Back Patio w/ Pony Wall, Private FENCED Backyard & Mature Landscaping. Garage has Built-in Cabinets, Service Door & Epoxy Garage Floor. Festival Ranch Special Assessment CFD Bond Balance has been Paid Off. Don't Wait to see this Spectacular Home & Start Enjoying the Incredible Sun City Festival Lifestyle.

16036 N 11th Avenue Phoenix, AZ 85023

$519,900 - 4Br/3Ba -  for Sale in Villas At Moon Valley Condominium, Phoenix
Open House
$519,900
4 Beds
3 Baths
2,270 SqFt
Status Active
MLS # 6693759
Property Type Single Family Residence
Price Type --
Located in the prestigious Moon Valley Villas Community, this stunning home features a Large Family Room & Living Room, Kitchen and Dining space main floor. One Bedroom and Full Bathroom main floor. Primary Bedroom and 2 additional Bedrooms upstairs. Gated Access Community, with Community Pool & Spa, Children's Play Area. All this in desirable North Phoenix, close to Moon Valley area Dining, Schools, Entertainment, Golfing, Hiking, and so much more. Don't Miss Out! This beauty will go FAST!

26176 S 228th Place Queen Creek, AZ 85142

$519,841
3 Beds
2 Baths
1,777 SqFt
Status Active
MLS # 6676164
Property Type Single Family Residence
Price Type --
Bright 3 bedroom, 2 bath Grange Quick Move In Floor Plan, available Summer 2024. This popular layout offers an open concept space, with abundance of natural light from the 18 Low E windows throughout the home. Entertain your friends and family in your brand-new gourmet kitchen, boasting a built-in gas range, chimney hood, and stainless-steel appliances. Enjoy the bright neutral pallet with white shaker cabinets, quartz countertops, custom tile backsplash, and wood plank tile throughout main living space; all hand selected by our award-winning design team. Unwind in your owners retreat in our signature super shower with custom tile to the ceiling. Notice the difference with our 10ft ceilings, 8ft doors, and 2x6 construction, all of this includes our extensive home warranty.

13391 W Chaparosa Way Peoria, AZ 85383

$519,800
4 Beds
2 Baths
2,370 SqFt
Status Active
MLS # 6674198
Property Type Single Family Residence
Price Type --
AMAZING OPPORTUNITY on this beautiful 4 Bedroom, 2 Bath Home in highly sought after NORTH VISTANCIA! Homes in this area at this price point are VERY RARE! Large Open Floor Plan. North/South Exposure. Tons of Natural Light. 3 Car Garage. Granite Countertops. Large Covered Patio. Mature Landscaping, plus all the Vistancia Village amenities!! HURRY, THIS HOME IS WAITING FOR YOU !!

2519 W Orchid Lane Chandler, AZ 85224

$519,800
3 Beds
2.5 Baths
1,883 SqFt
Status Active
MLS # 6689382
Property Type Single Family Residence
Price Type --
Talk about LOCATION! This gem is off the 101 and Ray rd on a corner lot! Shopping, restaurants, Chandler school district, freeway access..This 3 bedroom 2.5 bath home with loft has the master downstairs ! score ! Gorgeous plantation shutters in dining, complete tile downstairs, updated kitchen, The home has been partially remodeled and all appliances are staying..Cool off in your very own pool and a yard with little maintenance and artificial turf. NEWER AC unit with warranties still. Newer pool motor and vacuum too! Newer carpet. BUYER to verify school districts

726 W Milada Drive Phoenix, AZ 85041

$519,500
3 Beds
2 Baths
1,999 SqFt
Status Active
MLS # 6656874
Property Type Single Family Residence
Price Type --
BACK ON THE MARKET! This immaculately cared for POOL home is available and ready for you to make it your own. This RARE FIND in South Mountain, offers a small town feel with big city conveniences. It is only minutes away from popular hiking trails, popular golf courses, great schools, close to shopping, easy access to freeways and not far, from neighboring communities such as Chandler or Scottsdale. Low HOA dues, like new TRANE 15 SEER HVAC heat pump (4/21), quiet corner lot, and heated pool, makes this gem a great find. You will immediately notice, upon approaching this home the, north/south exposure, the stunning views of South Mountain, and a large HOA maintained greenbelt across from the property. As you step inside, you're warmly met with high ceilings neutral color tones, recessed lighting, and genuine wood flooring in the great room and dining area. The split-bedroom floor plan provides privacy. One of the bedrooms can easily be converted to a flex-office/den for those working from home. The generously-sized owner's suite boasts updated dual bathroom ensuite features, walk-in closet. In addition, you will have convenient access to the backyard oasis through patio doors - perfect for enjoying a tranquil morning coffee. You'll love the spacious great room and enjoy cooking your favorite meal in the kitchen with all the modern conveniences including a walk in pantry, spacious kitchen island, plenty of cabinetry and entertaining space in the great room for family events throughout the year. Need extra storage space? This home has RV gate making accessible ample storage space at the side of the house. Plus the 3 car garage allows for plenty of room for your vehicles and toys. Step off the great room, into your very own personal, resort-style backyard. This stunning backyard features a shimmering pool with baja steps and spa. This saltwater pool boasts a newer saltwater chlorinator that eliminates the need for chlorine and shock treatment, has well maintained pool equipment, in floor cleaning system, freshly cleaned and acid washed pool coping, and pebble tech pool surface. Whether you are unwinding from a hard day's work or preparing a family pool party, you will enjoy the size of the pool, ambience of the pool's waterfall feature, the heated spa, the privacy of a corner lot, and the expansive covered patio for shade in the lazy days of summer. This beautiful pool home is waiting for you and your family to make lasting memories. Call me and let's make this gem yours.

5897 S Banning Street Gilbert, AZ 85298

$519,500
4 Beds
2.5 Baths
1,757 SqFt
Status Active
MLS # 6680593
Property Type Single Family Residence
Price Type --
Fabulous 4 bedroom, 2 1/4 bathroom home nestled against Shamrock Estates neighborhood walking trail. Gourmet kitchen with granite countertops, maple cabinets, breakfast bar and pantry. Bay windows at kitchen nook with picturesque windows overlooking front courtyard. Open floor plan with decorative arches to dining room & great room. Primary bedroom with walk-in closet, raised double sinks, romantic bathtub and separate shower. 2nd bedroom with private 1/4 bathroom vanity sink and cabinets. 3rd and 4th bedroom with mirror closet doors. 2nd full bathroom with double sinks & opens to 1/4 bathroom. Backyard covered patio with lush grass backyard, lemon tree and wrought iron view fencing overlooking walking trail. Chandler Unified school district, close to parks, restaurants and trails

3911 N 13th Way Phoenix, AZ 85014

$519,500
3 Beds
2 Baths
1,256 SqFt
Status Active
MLS # 6661114
Property Type Single Family Residence
Price Type --
PRICE UPDATE REMODEL in the Longview area. This beautiful 3 bedroom and 2 bath home is move in ready. These items were recently redone: flooring is luxury vinyl, white shaker cabinets, bathroom vanities, all plumbing faucets and sinks, updated bathrooms, ceiling fans, two panel doors. Quartz counters. Epoxy finished garage features heating and cooling in the garage. Updated windows and garage door opener. Home is close to the 51 freeway. Minutes from Downtown Phoenix. NO HOA

14511 W Desert Hills Drive Surprise, AZ 85379

$519,500 - 4Br/3Ba -  for Sale in Mountain Gate Phase 3 & 4, Surprise
Open House
$519,500
4 Beds
2.5 Baths
3,064 SqFt
Status Active
MLS # 6682202
Property Type Single Family Residence
Price Type --
Discover the epitome of comfort and elegance in this stunning single-family home, nestled in the heart of Surprise, Arizona's sought-after gated community, Copper Canyon. This expansive 4-bedroom residence, complete with a versatile 2nd level loft/den and 2.5 well-appointed bathrooms, spans over 3,064 square feet of beautifully designed living space, making it an ideal haven for both relaxation and entertainment. Newly installed carpeting, light fixtures and a fresh coat of paint throughout the home. The solar system is owned free and clear, providing significant savings on energy bills. The masterfully designed kitchen, equipped with modern appliances, is a chef's delight, offering the perfect setting for culinary exploration. The property also boasts a generous 3-car garage, providing ample space for vehicles and storage. Outside, the well-maintained yard offers a peaceful oasis for outdoor activities or simply enjoying Arizona's beautiful weather. The Copper Canyon community enriches the living experience with several parks and lush green spaces, fostering a vibrant and welcoming neighborhood atmosphere.

23020 E Firestone Drive Queen Creek, AZ 85142

$519,240
4 Beds
3 Baths
2,505 SqFt
Status Active
MLS # 6658391
Property Type Single Family Residence
Price Type --
This is a To-Be-Built home, build time is 6-7 months. There is still time to add your own personal touch to this home with design options from our Design Studio. Home price will fluctuate based on design options selected. This is the popular Sienna Floorplan, 4 bedrooms, a loft, office and 3 full baths. One full bed/bath on the ground floor. Ask Sale Associate about special financing promotions as well as quick move-in inventory. This community offers an abundance of amenities including pickleball courts, resort-caliber outdoor pool with plenty of seating and lounging areas, fitness center with multi-use activity room, open air pavilion with fireplace and grilling stations, event and game lawns, shaded play parks, half-court basketball and two dog parks.

12200 E Chevelon Trail Gold Canyon, AZ 85118

$519,000
4 Beds
2 Baths
1,945 SqFt
Status Active
MLS # 6670725
Property Type Single Family Residence
Price Type --
Like new open and split floor plan built in 2022 with a three car garage! This super efficient home was built with new technology to keep the home super air tight for much lower electric bills. Within this great new community of Peralta Canyon you have access just a short walk away to Pickle Ball Courts, BBQ areas, playgrounds, Corn Hole boards, horse shoe pits, fire pit, basketball court, exercise stations, and much more! Located off Peralta Trail you are right near the Superstition Tonto Forest with access to many hiking trails, mountain biking trails, off roading trails, and tons of mountain and desert views! This home has very nice upgraded finishes with a backyard blank slate for you to make it exactly how you would like.

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