Home Equity Increasing as Home Prices Rise
The Real Estate Market continues to be strong and we are continuing to see homes gain positive equity. Only 8.1% of homes are "upside down" which is a significant increase from recent years. Home prices are predicted to rise at least 5% over the next (on average nation wide). California home values are predicted to increase by about 11% in the coming year. while interest rates are only projected to rise about 1% over the same period. These factor paired together will continue to boost the California Housing Market. All in all it's a healthy outlook for for buyers and sellers. The American Dream is Alive and Well! whether you are a first time buyer or are looking to Sell your current home and find your next dream home, I'm here to help.
- 91.9% of homes in the US have positive equity
- 256,000 homes regained equity in the third quarter of 2015
- 37.5 million homes have significant equity (defined as more than 20%)