CoreLogic has released its Home Equity Report for the second quarter. The report shows that the average homeowner gained $4,900 in home equity between the second quarter of 2018 and the second quarter of 2019.
States that saw the largest gains include:
– Idaho, where homeowners gained an average of $22-thousand;
– Wyoming, where homeowners picked up an average of $20-thousand
– and Nevada, where homeowners added an average of $16-thousand.
This rise in home equity supports spending on home improvements and may help improve balance sheets of households who could take out home equity loans to consolidate their debt. We can also thank current, low mortgage rates.