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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8038 S 54th Lane Laveen, AZ 85339

$515,000
4 Beds
2.5 Baths
2,403 SqFt
Status Active
MLS # 6689698
Property Type Single Family Residence
Price Type --
Desirable 4 bedroom 3 bath floor plan with a sparkling blue pool home situated on a spacious corner lot in the sough after Cheatham Farms neighborhood! featuring bold decorative tones throughout. The formal living room offers soaring ceilings and fashionable staircase, separate formal dining leads to the sizable open kitchen, complete with new upgraded appliances with plenty of space to entertain as the kitchen flows through the family room out to your back patio. with a lots of space surrounding the pool for entertaining. The den downstairs is being used as a bedroom, this home is perfect for accommodating guests. With 4 more rooms upstairs the large primary suite is a great layout. Located in the heart of Laveen, you're just minutes away from dining options, easy access to the 202.

12770 W Burnside Trail Peoria, AZ 85383

$515,000
3 Beds
2 Baths
1,841 SqFt
Status Active
MLS # 6691239
Property Type Single Family Residence
Price Type --
Gorgeous 3 bedroom 2 bath house in Vistancia w/ over $61K in builder options and extras! Ring spotlight HD security camera with built in two-way talk and siren alarm with solar panel. Paved driveway leads towards a custom security door with a wide entry and plank tile throughout. First bedroom and bathroom are near entrance. Open-concept kitchen & family room are perfect for entertaining. Gourmet kitchen features chandelier crystal pendant lighting on a dimmer switch to set the mood. Craft amazing meals on the large island with a five-burner gas cooktop. Spacious staggered cabinets with LED lighting. Micro/oven combo, deep sink, tasteful granite counters and a GE Profile Top Control tall tub dishwasher with stainless steel tub and steam prewash. Stainless steel fridge stays with the home. Hunter Douglas remote control kitchen window blinds to adjust your lighting. Enjoy dinner under the fancy Artika DRGL celebrity drum chandelier on a dimmer switch. Want to make movie night amazing? Enjoy premium sound with built-in ceiling speakers for a true 5.1 surround sound and subwoofer, experience! The guest bathroom features an Inca 32 wide 4-light bronze crystal LED vanity light with custom frame around the bathroom mirror. Plenty of room for family or guests w/ 2 large spare bedrooms. Set up your workstation or play area in the large den. Yes, you can control your home temperature from outside the home with the Honeywell smart thermostat. Spacious owner's suite bathroom features double high sinks & large walk-in rain shower. Inca 23 polished chrome crystal drum flush mount lighting with custom frame on the bathroom mirror. Deep walk-in closet with custom lighting. Go outside and sit under the porch with guests and catch mountain views. Very high backyard fence for total privacy. Garage has mounted storage racks and offers a side door access to the backyard. The Vistancia community offers community centers, two community pools, two golf courses, pickelball and tennis courts. Explore the Discovery hiking trails, and numerous other luxury amenities. Top rated schools, close to Lake Pleasant, & the Peoria Sports Complex. Come see this amazing home today!

6821 S 45th Lane Laveen, AZ 85339

$515,000
4 Beds
2.5 Baths
2,456 SqFt
Status Active
MLS # 6693265
Property Type Single Family Residence
Price Type --
This beautifully maintained home located in a cul de sac boasts 4 bedrooms 2.5 bathrooms, a downstairs den and living room with recently installed flooring opens to the kitchen, stainless steel appliances, a room with a closet can be converted to a 5th bedroom or used as a multipurpose space, high ceilings providing plenty of natural light in every room, a HUGE, lush one of a kind PRIVATE back yard for entertaining, a sparkling pool with a gorgeous rock formation and ambient lighting, a built in BBQ gas grill STILL NEW, newly installed turf, the covered patio is perfect for al fresco dining in this outdoor sanctuary. Welcome home to your own slice of paradise in Phoenix. Located in a prime location close to dining, shopping, outdoor recreational activities and cultural attractions

15130 W Andora Street Surprise, AZ 85379

$515,000
4 Beds
3 Baths
2,607 SqFt
Status Active
MLS # 6694832
Property Type Townhouse
Price Type --
This beautiful 4 bed, 3 bath townhome in Marley Park has all the right upgrades in all the right places! Discover spacious dining & living areas w/high ceilings, and trending palette throughout. The fabulous kitchen is comprised of painted cabinetry w/quartz counters, a pantry, herringbone tile backsplash, SS appliances, and a lovely large island. Downstairs has a spacious bedroom with a beautiful custom ''California Closets'' walk -in closet and a full bathroom. End your busy day in the primary bedroom, boasting elegant hardwood flooring, a walk-in closet, and a lavish ensuite w/dual sinks & a freestanding tub and shower. You'll also find a cozy loft area, great for sitting or an office. This home also has a stunning travertine side patio w/an attached pergola! This home simply has it al

10282 E Trailhead Court Gold Canyon, AZ 85118

$515,000
3 Beds
2 Baths
1,737 SqFt
Status Active
MLS # 6694132
Property Type Single Family Residence
Price Type --
Welcome to gated Peralta Trails located on the famous Peralta Trail! This home has a great open floor-plan, NEW ROOF, new ext. paint, updated kitchen with lots of cabinets (soft closing), granite counters, $8k worth of newer appliances, vaulted ceilings, skylights to brighten it up, the same tile flooring throughout the home, remodeled guest bathroom, plantation shutters, garage cabinets, and much more! Once you step outside to the backyard you see the huge travertine paver patio areas with a Alumiwood pergola for extra shade sitting area off the covered patio and just steps away from the hot tub! Without a house backing up to the back wall you get extra privacy and have Superstition Mountain Views! Just down Peralta Road is access to unlimited hiking, mountain biking, & off road trails!

5059 N 83rd Street Scottsdale, AZ 85250

$515,000
4 Beds
2.5 Baths
1,752 SqFt
Status Active
MLS # 6694981
Property Type Townhouse
Price Type --
Discover the perfect blend of comfort and convenience in this inviting 4 bed, 2.5 bath townhouse located just moments away from Old Town Scottsdale. Entertaining is effortless with a spacious living area flowing seamlessly into a split dining area, complemented by an L-shaped kitchen island perfect for casual gatherings. Retreat to the private back patio to savor the Arizona weather. Take advantage of the nearby Chaparral Park and dog park for outdoor recreation. Conveniently situated near the 101 highway, this townhouse offers easy access to surrounding areas while being in close proximity to Old Town Scottsdale's dining, shopping, and entertainment offerings. With two designated carport spots, a detached storage shed, and a plethora of nearby amenities this residence offers the ultimate Scottsdale living experience. Whether you're looking for a new place to call home or an investment property that allows short terms rentals, this is place for you!

4363 E Pony Lane Gilbert, AZ 85295

$515,000
4 Beds
3.5 Baths
2,029 SqFt
Status Active
MLS # 6696081
Property Type Single Family Residence
Price Type --
Don't miss this beautiful Gilbert home in the neighborhood of Cooley Station. As you enter this home, you step into a large great room floorplan that flows into the kitchen and outdoor patio. The 18' stacked sliding patio doors connects indoors to the outdoors for great entertaining. Kitchen features lots of cabinets, Quartz countertops, breakfast bar and walk-in pantry. Half bath is just off of the kitchen. All 4 bedrooms, 3 Full Bathrooms and convenient laundry room are all upstairs. Primary bedroom features 2 walk-in closets, balcony through sliding glass door, en-suite bathroom with dual sinks and walk-in shower. 2nd bedroom features en-suite bathroom. Front/back yards maintained by HOA. Community includes pool, basketball court, playground and parks. Close to San Tan Village Mall.

3935 E Rough Rider Road Phoenix, AZ 85050

$515,000
2 Beds
2 Baths
1,386 SqFt
Status Active
MLS # 6695950
Property Type Townhouse
Price Type --
Located in the heart of Desert Ridge, this ground floor single story 2 Bed 2 Bath condo is beautifully situated in the prestigious gated community, Villages at Aviano. As you walk in to this immaculately kept home you will notice the open floor plan perfect for entertaining guests. This alluring home features a neutral palate, antique white kitchen cabinets, an abundance of granite counter space, travertine flooring, high ceilings with lots of light flooding in. Over 16k in recent additions (see list in documents) which includes high end security screen and gate, new window blinds throughout, epoxy in garage, carpet and light fixtures and more. Perfect for both seasonal enjoyment or as a primary home, Aviano community club house has so much to offer such as a resort style pool, work out facility, tennis and pickle ball courts, and professionally run community activities. In addition, The Villages has its own private pool for you to relax at located right across the street from the condo. Additional attractions include Desert Ridge Marketplace and High Street with so many entertainment, shopping and dining options all just minutes away! Major highways, 101 and 51, lead you to the airport in less than 30 min.

4195 N 198th Avenue Litchfield Park, AZ 85340

$515,000
3 Beds
2 Baths
1,740 SqFt
Status Active
MLS # 6698053
Property Type Single Family Residence
Price Type --
Experience this fabulous 3-bedroom home on a prime corner lot in the Verrado Community. The open floor plan is filled with natural light, with wide sliding glass doors leading to the back patio. The kitchen boasts wood-look tile flooring, stainless steel appliances, a pantry, and recessed and pendant lighting. It also features a subway tile backsplash, cabinets with crown molding, granite countertops, and a large island with a breakfast bar. The bonus room offers a perfect space for work or study. The primary suite includes plush carpeting, an ensuite with dual sinks, a glass-enclosed shower, and a walk-in closet. Enjoy the large backyard with its covered patio, providing a peaceful setting for relaxing afternoons.

445 Starlight Lane Wickenburg, AZ 85390

$515,000
2 Beds
2.5 Baths
2,052 SqFt
Status Active
MLS # 6699153
Property Type Single Family Residence
Price Type --
Well kept home on a large lot. Quiet cul-de-sac location. Two master bedrooms along with a 1/2 bathroom for guests. Large Kitchen with double ovens, and a cook top in the island. Plenty of cabinets and counter top space. Pella windows. Oversized two car garage. Well landscaped with large back yard.

3079 N Princeton Drive Florence, AZ 85132

$515,000
5 Beds
4 Baths
2,883 SqFt
Status Active
MLS # 6697837
Property Type Single Family Residence
Price Type --
Embrace the grandeur of this incredible 5-bedroom home nestled on a sprawling lot within a picturesque subdivision, boasting breathtaking mountain views and an array of outstanding features! This two-story residence features a spacious interior, separate den, generously sized bedrooms, and great room, provide ample room for everyone. One of the the standout features is the expansive lot, which backs to a common area, ensuring privacy and tranquility with no neighbors behind. The backyard is a true oasis, complete with a sparkling pool, a charming pergola, and citrus trees. Inside and out, this home offers exceptional entertainment options, with surround sound that extends to the patio, allowing you to create the perfect atmosphere for gatherings. The convenience of keyless front door

1572 Mission Viejo Drive Sierra Vista, AZ 85635

$515,000
5 Beds
3 Baths
2,779 SqFt
Status Active
MLS # 6698059
Property Type Single Family Residence
Price Type --
This gorgeous 5 bedroom & 3 bathroom home on over a quarter of an acre in the desirable Coronado Crossing neighborhood feels like a model home! The exterior of the home has fresh paint (2023), mature trees & flowers, shutters, a beautiful custom security screen door, & an additional driveway that leads to oversized covered parking for your RV or boat! When entering you will appreciate the vaulted ceilings, premium wood look tile in all the right places, an open layout & a gorgeous custom stone fireplace as the center of the home. The kitchen is bright & airy with an eat-in area, large windows, granite countertops, newer stainless appliances (double oven included), and a wall full of cabinets. This home has a large formal dining room, separate family room/den... granite countertops in all the bathrooms, spacious bedrooms, 2 AC units, newer hot water heater, smart thermostats, & so much storage! In the backyard you will find a covered patio, large grass area, a garden, beautiful native plant by design border the common areas, fruit trees, a custom chicken coop, raised garden beds, & storage shed!

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