Thanks to rising home prices, home owners are getting richer. The amount of homeowner equity has doubled in the last five years largely because of the recovery in home prices. Nationwide during the past year, the average gain in housing wealth was about $11,000 per home owner, but with wide geographic variation.
Home owners in several markets across California, Washington, Oregon, Colorado, and Utah are seeing some of the most growth, with double-digit home price gains.
Home owners nationwide likely are to see even more equity in the coming months as well.
Call me to realize your equity gain.