According to CoreLogic, homeowners across the country are gaining significant equity.
Over the past year, the average homeowner gained $9,800 in equity, growing their overall net worth.
If you’re ready to sell your current house and begin looking for your dream home, contact your local real estate professional to learn how your home equity can help make that possible.
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Back in March, as the nation’s economy was shut down because of the coronavirus, many were predicting the real estate market would face a major collapse.
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Real estate continues to be called the ‘bright spot’ in the current economy, but there’s one thing that may hold the housing market back from achieving its full potential this year: the lack of homes for sale.
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When shelter-in-place orders brought the economy to a screeching halt earlier this year, many believed the residential housing market would follow suit.
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In today’s housing market, it can be a big challenge for buyers to find homes to purchase, as the number of houses for sale is far below the current demand.
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There’s great opportunity for today’s homeowners to sell their houses and make a move, yet due to the impact of the ongoing health crisis, some sellers are taking their time coming back to the market.
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With businesses reopening throughout the country and some experts indicating early signs of a much-anticipated economic recovery, more homebuyers are actively entering the housing market this summer.
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In a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won’t sell because of the pandemic and resulting economic recession.
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