<article class="post-646492 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-646492"><span class="entry-date">March 2, 2023</span><div class="entry-header center-block text-center"><h1 class="entry-title">Equity Gains for Today’s Homeowners</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=Equity+Gains+for+Today%E2%80%99s+Homeowners&url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fequity-gains-for-todays-homeowners%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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</div></div><div class="post-tax post-category"><span></span><a href="../category/realtor-blog/index.html" rel="tag">Realtor Blog</a></div><div class="post-tax post-post_tag"></div></div><div class="entry-content"><div><img alt="Equity Gains for Today’s Homeowners Simplifying The Market" decoding="async" loading="lazy" src="https://media.agentaprd.com/sites/222/equity-gains-for-todays-homeowners-KCM.webp" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width="358"/>
<p>Today’s homeowners are sitting on significant equity, even as home price appreciation has eased recently. If you’re a homeowner, your <a href="https://www.simplifyingthemarket.com/2023/02/27/one-major-benefit-of-investing-in-a-home/?a=712984-fa409495d5d70154d03a25e81e9540e2">net worth</a> got a boost over the past few years thanks to rising home prices. Here’s what it means for you, even as the market moderates.<!–more–></p>
<h4><strong>How Equity Has Grown in Recent Years</strong><strong> </strong></h4>
<p>Because of the imbalance between how many <a href="https://www.simplifyingthemarket.com/2023/02/17/the-spring-housing-market-could-be-a-sweet-spot-for-sellers-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2">homes</a> were for sale and the number of homebuyers in the market over the past few years, home prices appreciated substantially.</p>
<p>And while price appreciation has <a href="https://www.simplifyingthemarket.com/2023/02/16/wondering-whats-going-on-with-home-prices/?a=712984-fa409495d5d70154d03a25e81e9540e2">slowed</a> this year, that doesn’t mean you’ve lost all the equity in your home. In fact, the latest <em>Homeowner Equity Insights </em>report from <em>CoreLogic</em> <a href="https://www.corelogic.com/intelligence/homeowner-equity-insights-q3-2022/">finds</a> <strong>the average homeowner’s equity has grown by $34,300 over the past year alone</strong>.</p>
<p>And if you’ve been in your home longer than that, chances are you have even more equity than you realize.</p>
<p>While that’s the national number, if you want to know what happened in your area, look at the map below from the <em>Federal Housing Finance Agency</em> (FHFA). It <a href="https://www.fhfa.gov/DataTools/Tools/Pages/House-Price-Index-(HPI).aspx">shows</a> on average how much home prices have risen over the past five years, which has been a major driver behind equity growth.</p>
<p><a href="https://api.simplifyingthemarket.com/wp-content/uploads/2023/03/percent-change-in-home-prices-MEM.png"><img alt="Equity Gains for Today’s Homeowners | Simplifying The Market" class="aligncenter wp-image-48883" decoding="async" fetchpriority="high" height="488" src="https://api.simplifyingthemarket.com/wp-content/uploads/2023/03/percent-change-in-home-prices-MEM.png" width="650"/></a></p>
<h4><strong>Why This Is So Important Right Now</strong><strong> </strong></h4>
<p>While equity helps increase your overall net worth, it can also help you achieve other goals, like buying your next home. When you <a href="https://www.simplifyingthemarket.com/2023/02/21/the-two-big-issues-the-housing-markets-facing-right-now/?a=712984-fa409495d5d70154d03a25e81e9540e2">sell</a> your current house, the equity you’ve built up comes back to you in the sale, and it may be just what you need to cover a large portion – if not all – of the down payment on your next home.</p>
<p>So, if you’ve been holding off on selling, it may be time to find out how much equity you have and how it can help fuel your next move.</p>
<h3>Bottom Line</h3>
<p>
Homeownership is a long game, and if you’re planning to make a move, the equity you’ve gained over time can make a big impact. To find out just how much equity you have in your current home and how you can use it to fuel your next purchase, let’s connect.</p>
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