Homeowner Equity Increases to $871B
Homeowner equity has been on a steady rise in 2017 and according to new 3Q stats, homeowner equity has hit a whopping $871 billion in Q3.
"The total amount of equity controlled by U.S. homeowners continued its steady climb in the third quarter of 2017, with an $871 billion gain from the same time last year," according to Reverse Mortgage Daily.
"That’s an 11.8% increase from the third quarter of 2016, according to the most recent data from real estate analysts CoreLogic — the largest year-over-year jump in more than three years."
Despite a huge jump in homeowner equity, there is still $275.7 billion in negative equity that is currently sitting. States like Louisiana and Florida are sitting on plenty of negative equity according to the report.
Meanwhile, most of the equity growth seems to be generated out of the West. For more information on the current state of homeowner equity, click on the image above.
