Homeowners twice as house rich as five years ago

Diana Olick | CNBC

America’s housing market is heating up again, fortifying the finances of current homeowners and frustrating potential first-time buyers.

A sales manager gives a tour of a model home to a prospective buyer in Hesperia, California./Irfan Khan | Los Angeles Times | Getty Images
A sales manager gives a tour of a model home to a prospective buyer in Hesperia, California./Irfan Khan | Los Angeles Times | Getty Images

After hitting bottom in 2012, home prices took off dramatically before leveling off a bit in mid-2014. In the last two months, though, they turned higher again. The amount of equity homeowners now have — the value outside their mortgage debt — has doubled in the last five years, according to CoreLogic.

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