But slowing home price gains may put a dent in the remodeling market.
CoreLogic® (NYSE: CLGX) Home Equity Report for the first quarter of 2019, out Thursday, shows that U.S. homeowners with mortgages (roughly 63% of all properties) have seen equity increase by 5.6% year over year, representing a gain of nearly $485.7 billion since the first quarter of 2018.
The average homeowner gained $6,400 in home equity between the first quarter of 2018 and the first quarter of 2019. Some states saw much larger gains. In Nevada, homeowners gained an average of approximately $21,000. In Idaho, homeowners gained an average of approximately $20,700 and Wyoming homeowners gained an average of $20,300.