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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12925 W Seville Drive Sun City West, AZ 85375

$499,000 - 2Br/2Ba -  for Sale in Sun City West Unit 18, Sun City West
Open House
$499,000
2 Beds
2 Baths
2,020 SqFt
Status Active
MLS # 6653221
Property Type Single Family Residence
Price Type --
Don't miss this recently renovated home. This exquisite 2-bed, 2-bath residence was renovated in 2022. The great room showcases vaulted ceilings, recessed lighting, plantation shutters, a striking mirrored wall that enhances the sense of space, and attractive wood-look flooring. The spacious kitchen with quartz counters, paneled cabinets with custom accents, chic pendant lighting, sleek SS appliances, a stylish tile backsplash, pantry, and a peninsula with a breakfast bar. You'll also find a versatile den ideal for an office. The main bedroom is complete with a make-up vanity, a walk-in closet, and a private bathroom with dual sinks. Recessed lighting throughout. Outside, the large covered patio offers a serene space for outdoor living.

13119 W Avenida Del Rey -- Peoria, AZ 85383

$499,000
4 Beds
2.5 Baths
2,257 SqFt
Status Active
MLS # 6653977
Property Type Single Family Residence
Price Type --
Great short sale opertunity. This fantastic 4 bed, 2.5 bath residence now for sale in Peoria is the one for you! Featuring a stunning façade w/stone accents, easy-care landscape, and a 3 car tandem garage! Inside you will find a spacious open floor plan w/elegant wood-look flooring, tasteful wall accents, and designer palette throughout. The kitchen is comprised of ample cabinet & counter space w/built-in appliances, a walk-in pantry, recessed lighting, stylish backsplash, and an island complete w/a breakfast bar. Enjoy a good night's sleep in the primary bedroom, a private ensuite w/dual sinks, and 2 walk-in closets . Don't forget about the cozy open den, perfect for an office. Finally, the lovely backyard includes a covered patio, paver seating area w/a lovely pergola, and artificial

15958 W Shangri La Road Surprise, AZ 85379

$499,000
4 Beds
3 Baths
3,077 SqFt
Status Active
MLS # 6654011
Property Type Single Family Residence
Price Type --
REDUCED $75,000. This charming property offers comfort and practicality, featuring granite counters, oversize dark maple cabinets, 20' tile flooring, upgraded carpet, and stainless-steel appliances. The kitchen, overlooking the family room, creates a warm atmosphere for gatherings. A separate dining area and a generous living room provide ample space for everyday living. The master bedroom, complete with a sitting room and balcony, it's the perfect comfortable retreat. The backyard offers a refreshing pool, great for relaxation and outdoor enjoyment. Conveniently located close to schools, shopping, entertainment, and restaurants, this home provides accessibility without compromising comfort. Don't miss the opportunity to make this welcoming property your home sweet home

18200 S Wolf Run Trail Mayer, AZ 86333

$499,000
2 Beds
1 Bath
882 SqFt
Status Active
MLS # 6654333
Property Type Single Family Residence
Price Type --
STUNNING serene 13 acres of quiet paradise. Private well and septic. NO HOA/CCR! Has the original home from 1930 for the historical lovers. 2 beds, 1 bath with beautiful large walk in shower. Owner has lived and thrived here for 28 years. Make it your home or use for guest cabin / weekender and build a new home. also has nice stucco could be turn into guest house. NUMEROUS WATER AND ELECTRICAL hook ups throughout, making this an AMAZING AND PROFITABLE place to start an Air B&B, OFF ROAD RV CAMPING ECT.. Large metal storage shed. Surrounded on all sides by National Forest, state land. Come pan for gold in Turkey Creek, hike, utv, atv, horses, and more all right from your back yard!! STUNNING serene 13 acres of quiet paradise. Private well and septic. NO HOA/CCR! Has the original home from 1930 for the historical lovers. 2 beds, 1 bath with beautiful large walk in shower. Owner has lived and thrived here for 28 years. Make it your home or use for guest cabin / weekender and build a new home. NUMEROUS WATER AND ELECTRICAL hook ups throughout, making this a possibility for an AMAZING AND PROFITABLE place to start an Air B&B, OFF ROAD RV CAMPING ECT.. Has nice stucco building with electric, water and could be turned into guest quarters Large metal storage shed. Surrounded on all sides by National Forest, state land. Come pan for gold in Turkey Creek, hike, utv, atv, horses, and more all right from your back yard!!

5350 E Deer Valley Drive Phoenix, AZ 85054

$499,000
2 Beds
2 Baths
1,392 SqFt
Status Active
MLS # 6658250
Property Type Apartment
Price Type --
New HVAC, fresh paint, new washer/dryer, and much more await at this 2nd-floor condo in the Toscana at Desert Ridge community offers a combination of luxury features, convenient amenities, and a desirable location, making it a must-see for those looking for a resort-style living experience in the desert. The kitchen is equipped with stainless steel appliances, granite-tiled countertops, a breakfast bar, and attractive cabinetry, making it a functional and aesthetically pleasing space for cooking and dining. The spacious master suite includes a large walk-in closet, a dual vanity, a standalone shower, and a soaking tub. There is new carpet throughout that has recently been installed and lightly used. The unit boasts a covered balcony with views, providing an outdoor space to relax.

44088 W Palo Abeto Drive Maricopa, AZ 85138

$499,000
4 Beds
3.5 Baths
2,992 SqFt
Status Active
MLS # 6658934
Property Type Single Family Residence
Price Type --
This impressive single-story home spans 2,990 square feet and offers 4 bedrooms and 3.5 baths, complete with a refreshing pool! The family room boasts a cozy fireplace, while the formal dining area features elegant crown molding. In the kitchen, discover an island, ample cabinets, 42'' uppers, stainless steel appliances, and a convenient walk-in pantry. The owner's suite is a luxurious retreat with double sinks, executive height cabinets, a walk-in closet, walk-in shower, and a relaxing garden tub. The Jack-n-Jill bathroom features double sinks and a tub/shower combo. Step into the backyard to enjoy a pebbletec pool with a water feature, an extended patio with pavers, and a separate turf area - perfect for your furry friend!

2342 E Delgado Street Phoenix, AZ 85022

$499,000
3 Beds
2 Baths
1,702 SqFt
Status Active
MLS # 6659389
Property Type Single Family Residence
Price Type --
A fantastic family home in the heart of Phoenix. This beautifully updated residence is adorned with charm and offers a perfect blend of comfort and style. This home boasts distinctive curb appeal, highlighted by two mature trees in the front yard and a vast backyard that opens up a world of possibilities. You have a lemon tree, grapefruit tree, and orange tree. Centrally located near the 51 and North Central, convenience is at your doorstep.

12852 N Mountainside Drive Fountain Hills, AZ 85268

$499,000 - 3Br/3Ba -  for Sale in Ohryan Condominiums, Fountain Hills
Open House
$499,000
3 Beds
2.5 Baths
1,937 SqFt
Status Active
MLS # 6660254
Property Type Townhouse
Price Type --
The perfect low maintenance home, over 1900sf, nestled in the heart of Fountain Hills. Great for primary residence, lock & leave seasonal home, or investment property! Take in the breathtaking mountain views from the balcony of the owner's suite and relaxing sight of one of the ''World's Highest Fountains''. Soaring ceilings and a towering window as you walk into the living room invites plenty of natural light. New luxury vinyl flooring, carpet, and fresh paint throughout! Enjoy cooking in the large kitchen with stainless steel appliances and granite counter tops. New AC in 2023 offers worry-free comfort! This elegant residence seamlessly blends modern comfort with natural beauty, offering a unique lifestyle in a prime location.

2301 N 38th Street Phoenix, AZ 85008

$499,000
3 Beds
2 Baths
1,500 SqFt
Status Active
MLS # 6662657
Property Type Single Family Residence
Price Type --
Great Location (No HOA) with curb appeal on a large corner lot! OWNED Solar (paid for)! Ave Elect Bill = $125 Summer / $50 Winter. Entry BARS can be removed. Upgraded kitchen counter & backsplash. Newer Windows, Newer block wall with 16 foot RV Gate perfect for your toys! Great split floor plan includes 3 bedrooms & 2 bathrooms. Separate entrance to one of the bedrooms. New bathroom vanity, countertop & cabinet. Upgraded living room recessed lights. Free standing storage shed that matches the house. Inside laundry with tons of storage space. Perfectly located near freeways, Sky Harbor Airport, downtown phoenix, shopping, phenomenal restaurants, entertainment, etc.

624 E Pepper Place Mesa, AZ 85203

$499,000
4 Beds
2 Baths
2,251 SqFt
Status Active
MLS # 6664108
Property Type Single Family Residence
Price Type --
PROPERTY QUALIFIES FOR MULTIPLE LENDING INCENTIVES - See documents tab or call agent to inquire! Welcome to your new oasis in Mesa, AZ! Nestled in a prime location close to parks, shopping, and freeway access, this charming 4 bedroom, 2 bathroom home is ready to embrace its next owners with warmth and comfort. Step inside to discover a meticulously maintained interior that exudes coziness and modern appeal. The spacious living area welcomes you with abundant natural light filtering through large windows, creating a bright and inviting atmosphere perfect for both relaxation and entertainment. The heart of the home lies in the beautifully appointed kitchen, where culinary dreams come to life. Equipped with sleek countertops, stainless steel appliances, and ample cabinet space, this culinary haven is sure to inspire your inner chef. Adjacent to the kitchen, the dining area offers a delightful space to savor meals with loved ones and create lasting memories. Retreat to the serene master suite with an ensuite bathroom for added privacy and convenience. Three additional well-appointed bedrooms provide spaces for rest, work, or play, ensuring everyone has their own comfortable retreat. Outside, a private backyard oasis awaits, offering the perfect setting for outdoor gatherings, outdoor dining, or simply enjoying in the Arizona sun. The front and back yards both have irrigation making this yard easier to maintain. With its lush greenery, ample space, and extra storage the backyard presents endless possibilities for relaxation and recreation. Just a quick walk to Pioneer Park and a fast drive to the Mesa LDS Temple, this location has it all! Don't miss your chance to make this lovely Mesa home your own. Book a time to experience the magic of this delightful home!

4686 E Mia Court Gilbert, AZ 85298

$499,000
2 Beds
2 Baths
1,537 SqFt
Status Active
MLS # 6664275
Property Type Single Family Residence
Price Type --
FANTASTIC POOL!! This home sits on a choice corner N/S lot in a cul-de-sac. The model is an Azalea. Very Popular. This is a very active 55+ community of Trilogy At Power Ranch. Gorgeous clubhouse, fitness center, lap and play pools. Tennis, pickleball, Bocce, public golf course with restaurant. Very nice, mature, desert landscaping, fruit trees and relaxing pool features. 2 bed/2bath. Large primary bedroom. THIS HOME IS A MUST SEE!!!

13510 W Avalon Drive Avondale, AZ 85392

$499,000
4 Beds
2 Baths
2,219 SqFt
Status Active
MLS # 6664721
Property Type Single Family Residence
Price Type --
Excellent LOCATION This fantastic property comes with OWNED SOLAR! Discover the beauty of Arizona right from your front patio, then step into your 4-bedroom, 2-bathroom home with a 3-car garage. The home greets you with a living room and dining room. Delight in the bright open kitchen featuring a granite breakfast bar, pantry, abundant cabinet space, and room for a dining table. The family room is equipped with built-in space for media equipment and a cozy gas fireplace. Unwind in the primary bedroom with direct access to the backyard, a walk-in closet, soaking tub, and dual sinks. Outside, enjoy a serene oasis surrounded by mature trees and a spacious covered patio. The 3-car tandem garage provides additional overhead storage. Situated near the neighborhood playground and greenbelt, this home offers easy access to the I-10, dining options, and entertainment. Welcome to Fulton Estates - your new home sweet home!

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