Daily Real Estate News
As home prices rise, more homeowners are regaining equity. During the first quarter of this year, about 254,000 properties regained equity, according to CoreLogic’s latest equity report. That now brings the total number of residential properties with a mortgage that have equity to about 44.9 million – or 90 percent – by the end of the first quarter.
“About 90 percent of home owners now have housing equity and, as a result, have experienced an increase in wealth, which can spur additional consumption and investment expenditures,” says Frank Nothaft, chief economist for CoreLogic. “The remaining 10 percent of owners with negative equity will find their home value rising while they continue to pay down principal on their amortizing mortgage loan.”
