According to a recent article posted by REALTOR® Magazine, home equity has been boosted so much in the past year that homeowners may be feeling a little bit richer! According to a new report from CoreLogic, a real estate research firm, “Homeowners with a mortgage have seen their equity climb nearly 20% year over year.”
In the first quarter of 2021 alone, the average homeowner gained around $33,400 in equity. According to Frank Martell, president and CEO of CoreLogic, “Homeowner equity has more than doubled over the past decade and become a crucial buffer for many weathering the challenges of the pandemic…These gains have become an important financial tool and boosted consumer confidence in the U.S. housing market, especially for older homeowners and baby boomers who’ve experienced years of price appreciation.”
Additionally, the National Association of REALTORS® recently reported that the median existing-home sales price for all housing types reached a record high in April, at $341,600. To learn more, please visit the original posted article, here.
At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR®, visit our website at NorthEasternGroup.com.
North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.
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