How Much Equity have Homeowners Seen?
Those who have purchased homes in 2012 (the year prices reached their lowest point following the Great Recession) have earned a total of $203 billion in home equity!
That’s a big chunk of change.
On average, the typical homeowner earned $141,000 in home equity individually.
This Redfin analysis shows that an average home that sold in 2012 has increased $110,000 in value – with Tacoma, Washington and Virginia Beach, Virginia having the biggest percent increases in home equity.
Looks like homebuyers are able to eat their cake and have it too! Experts will be studying the housing market closely as we enter into the winter season.
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